From the e-Secure-IT News Feed 

Reliance on passwords is biggest security threat, says hacking expert
from ComputerWeekly at 30-6-2010)
Passwords are fundamentally insecure and represent the biggest security threat facing organisations, says Jason Hart, senior vice-president for Europe at security firm Cryptocard.

Hart, a former ethical hacker, is able to demonstrate how
easily available software can be used by hackers to capture every username and password of any user on a network.

It is impossible to protect anything that connects with the internet through any means against this kind of attack at the protocol level, he said.

Hackers are able to view the username and password victims type in to access e-mail systems, business systems and cloud services,
even those using a secure internet protocol (https) or encryption.

Editor's Note: Which explains why Eugene Kaspersky, co-founder of Kaspersky Labs has called for the mass adoption of peripheral card readers for ALL Internet Banking users...
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Posted by John B. Frank Wednesday, June 30, 2010 0 comments

Just Say No to Overdraft Fees: Opt-Out Deadline for New Customers Begins July 1, 2010

Starting August 15th, (July 1st for customers opening an account at a new bank) your bank cannot charge you overdraft fees on debit card transactions UNLESS you opt-in. Instead, if you lack funds, your transaction will be declined at no cost.  

June 30 /PRNewswire-USNewswire/ -- Starting tomorrow, banks must obtain permission from new customers before enrolling them in costly overdraft coverage for debit-card transactions. The Federal Reserve Board's new rule improves the status quo but still falls far short of what's needed: Banks should not be allowed to impose exorbitant charges that bear no reasonable connection to the overdraft amount or a lender's cost for making the loan. Banks also continue to pile on overdraft charges, including by manipulating transactions to maximize the number of fees they hit customers with each day.
In addition, starting August 15th, banks will need permission from existing customers before they can enroll them in overdraft programs.
Banks have been scrambling in advance of the July and August deadlines to persuade customers to say okay—to opt in—to overdraft charges, but routinely fail to fully disclose the existence of lower-cost options, such as a line of credit.
The Federal Reserve has watched for years as abusive overdraft practices became widespread. The Fed—and, eventually, the new consumer financial protection agency Congress is about to create—must do more to protect customers from practices that maximize fee revenue but provide little or no additional benefit to debit-card holders. The Fed's failure to do more means that the most financially vulnerable, who tend to overdraw more frequently than others, continue to be trapped in debt by unfair overdraft practices.
About the Center for Responsible Lending
The Center for Responsible Lending is a nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices. CRL is affiliated with Self-Help, one of the nation's largest community development financial institutions.
SOURCE Center for Responsible Lending

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Motley Fool Reports:

....But for one section of the bill, what began as a valiant attempt to score points for consumers and small businesses may end up haunted by unintended consequences.  I'm talking about the regulation of debit-card interchange fees -- 1%-3% licks off the top of every purchase you make with a debit card, paid by merchants. 
Here's how it works: Say you make a $100 purchase at the grocery store, paid on your debit card. For the privilege of processing the transaction, the grocer owes the card processor -- usually Visa (NYSE: V) or MasterCard (NYSE: MA) -- between $1 and $3 in interchange fees (plus a few other nominal fees for service). That's the cost of doing business. Visa and MasterCard then remit substantially all interchange fees back to the bank that issued you the card. Today, Citigroup (NYSE: C)Bank of America (NYSE: BAC)JPMorgan Chase(NYSE: JPM), and Wells Fargo dominate this market.  For retailers with sliver-thin margins, interchange fees can be deadly serious. Costco(Nasdaq: COST), for example, doesn't allow customers to pay with anything other than cash, check, pin-based debit (different than so-called signature debit) ), its own self-branded credit cards, or American Express (NYSE: AXP), which negotiated a special deal in exchange for exclusivity in 1999. That lets Costco avoid most interchange fees and keep retail margins extremely low, which is how its business model works.

But most retailers could never get away with this, and many get gutted...<<read more>>

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Recipients Can Obtain Funds Even If Their Account Is Not With A Participating Bank, Providing Banks With Massive Opportunities For Customer Acquisition

TORONTO, June 29, 2010 – Mobile commerce solution provider CPNI Inc. (CPNI) announced today a significant enhancement to their person-to-person payment offering PATsend™. In the latest release of the PAT™ (Phone Authorized Transfer™) solution set PATsend provides bank customers, whose bank does not yet offer the service, with the ability to receive P2P payments. This functionality supplies the highest possible level of convenience and options to the end user, while offering banks valuable customer acquisition opportunities.

The PATsend solution can be integrated with existing online web portals. CPNI solutions have the ability to use multiple identifiers and multiple channels such as a mobile phone, the web or an ATM, which supplies the flexibility required to provide financial institutions with a comprehensive P2P solution.

With the new capabilities, banks widen the number of potential customers as participants. Participating financial institutions can act as a conduit for the clientele of other banks, providing the opening to interface with new potential customers. Early adopting banks will have a substantial advantage in the race to attract and retain consumers in the growing mobile market. By providing for payments to recipients regardless of whether or not they have a bank account or whether or not their financial institution participates with the P2P service, the number of potential customers increases dramatically. The provision for ad hoc discovery of recipients is the key to promoting the viral growth of P2P payments.

Unregistered recipients need only claim once. Upon claiming for the first time, users can choose to become a registered recipient and discovered by all senders on the network. Consequent payments to them will be depositied directly into the the account they register with, even if their institution does not participate in the network.

The latest enhancements continue CPNI’s commitment to convenience for the end user by providing options and flexibility to P2P recipients. To receive money, unregistered recipients simply need to either register their details in advance with a participating institution or when claiming at the time of the transfer.

Sending money is just as easy. Simply by entering the recipient’s phone number, email address or social networking ID, bank customers can conveniently send money from their account domestically or internationally, using a mobile phone, the web or an ATM. This multi-ID ability of CPNI’s P2P solution PATsend; offers consumers the highest possible level of mobility and convenience, while empowering banks to maximize the number of potential customers for the service.

About CPNI

CPNI Inc. (CPNI) is a private software development company headquartered in Toronto, Canada, with offices in Boston, MA. For Financial Institutions seeking mobile financial solutions, CPNI provides Phone Authorized Transfer (PAT), a global, bank-branded, account-centric solution for remote payments and banking services. PAT allows people to transfer funds via PATsend™, make purchases via PATbuy™ and access banking services via PATbank™. Financial Institutions are able to leverage their existing accounts, security processes and settlement channels while retaining the ability to innovate, differentiate and compete. For more information, visit the company’s web site at at

For more information please contact:

Brady Frost


Telephone: +1.617.201.3876


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 Slashdot is reporting that 22 Million SSL Certificates in use are invalid:  From the e-Secure-IT News Feed

22 Million SSL Certificates In Use Are Invalid
(from Slashdot at 29-6-2010)
While SSL certs are widely used on the Internet today, a new study from Qualys, set to be officially released at Black Hat in July, is going to show some shocking statistics.

Among the findings in the study is that only 3% of SSL certs in use were actually properly configured.

Quoting: '"So we have about 22 million SSL servers with certificates that are completely invalid because they do not match the domain name on which they reside," Ivan Ristic, director of engineering at Qualys, said.... 
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Boston, June 30, 2010 -- The Canadian debit card market has been under increasing pressure in recent years to open itself to new card network schemes. Simultaneously, Canada's financial services industry has not been immune to the dynamics playing out in the rest of the world's market including the economic downturn, the rise of mobile and ecommerce payment forms, and the emergence of a more savvy and cost-conscious consumer.
Mercator Advisory Group's 'Canadian Debit Market Warning: Contents Under Pressure' report provides a holistic view of the market and examines the impact of the newly adopted Code of Conduct, trends in electronic payment usage, the implementation of Chip & PIN, and identify the best opportunities for issuers, solution providers, and the card networks.
This report contains:
  • An analysis of payment card adoption rates and activity.

  • A discussion of the implementation of Chip & PIN technology.

  • An analysis of the potential market impact of the code of conduct.

  • Projections of the market opportunity in Canada for prepaid cards.

  • Market drivers for both consumers and small business.

  • A review of fraud trends in this market.

"...will the Canadian market continue to be courted by the Visa and MasterCard card networks, or will they turn their attention to friendlier regions, such as Brazil or Africa for example? At the moment, Canadian debit card issuers are even more reluctant to show their hand and the market appears to be waiting for the dust to settle. Canadian merchants are clearly not interested in inviting any higher cost schemes into the market and at the moment, momentum is on their side," states Patricia Hewitt, drector of the Debit Advisory Service and author of the report.

This report contains 27 pages and 16 exhibits.

Companies mentioned in this report: Visa, MasterCard, Interac, NYCE, Accel, Exchange, Acsys, Bank of Montreal, CIBC, Scotiabank, TD Bank, VanCity, RBC, TSYS, Zoompass, DirectCash, ITSPaid.
Members of Mercator Advisory Group have access to this report and upcoming research for the year ahead, presentations, analyst access and other membership benefits.
Please visit us online at 

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MasterCardImage via Wikipedia
Irvine, Calif., June 30, 2010 -- Global Cash Card, a leader in customized paycard solutions, and MasterCard Worldwide today announced the introduction of the GEM Program, an exclusive prepaid payroll card program for new Global Cash Card clients that offers educational benefits through the American Payroll Association (APA).

The program facilitates payments to employees as payroll funds are automatically loaded onto a reloadable Prepaid MasterCard card issued by First-Citizens Bank & Trust. The prepaid MasterCard cards can be used anywhere Debit MasterCard is accepted.

The GEM Program provides up to four complimentary one–year APA memberships for current non-members and/or renewals of membership, as well as up to four $500 MasterCard prepaid Global Cash Card gift cards for those payroll professionals who contract with Global Cash Card to implement a prepaid payroll card program for their organization. MasterCard prepaid Global Cash Card gift cards are provided for exclusive use on the APA’s educational programs, including classes, e-learning, Webinars and conferences, among others.

“As a direct processor, Global Cash Card offers unmatched, fully customized state-of-the-art technology and in-house customer service to improve payroll processing for organizations of all sizes, said “Joseph F Purcell, President and CEO, Global Cash Card. “The GEM Program is a unique offering designed to encourage ongoing education for payroll professionals, and to support the work of the APA. We’re excited to be working with MasterCard to offer complimentary memberships and educational assistance to APA members, and to raise awareness of the benefits of prepaid payroll cards over cash and check.”

Prepaid payroll cards are an easy and cost-effective alternative to paper check payroll distribution. For employers, prepaid payroll cards can save time and money by streamlining the payment process. For employees, prepaid cards offer a simple and secure way to make purchases, pay bills and access funds at ATMs, thereby improving the overall payday experience. For employees without bank accounts, prepaid cards can also make it easier to manage their finances than with cash or check.

“As a leader in prepaid, MasterCard offers flexible, convenient and easy-to-use prepaid payroll solutions. Well-respected and innovative organizations, like Global Cash Card and the APA, consistently choose MasterCard as their prepaid development and implementation partner,” said Laura Kelly, senior vice president, Global Prepaid & Debit Product Solutions, MasterCard Worldwide. “The GEM Program provides added benefits and value to corporations and payroll professionals, and demonstrates MasterCard’s commitment to improving payroll for all parties involved. We’re proud to support the APA through this exclusive program.”

To qualify for the GEM program, organizations must meet specific eligibility requirements. Organizations must have a minimum of 50 full-time employees, must sign an agreement with Global Cash Card and must implement a Global Cash Card prepaid paycard program. Current Global Cash Card clients are not eligible. For more information, visit .

The Global Cash Card™ Debit MasterCard® Card is issued by First–Citizens Bank & Trust. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

About Global Cash Card

Global Cash Card™ is THE proven specialist in customized paycard solutions that are simple to implement and easy to use. The company is a wholly owned subsidiary of World Processing, Ltd, a leader in electronic financial transaction technology. Global Cash Card is a direct processor that offers Debit MasterCard cards, Visa Prepaid cards and PIN-based ATM cards. The company develops and owns the proprietary software, which enables the products and services it offers. The platform provides payroll cards, travel, gift, FSA, HSA, and many other types of applications. Global Cash Card also offers branded and customized programs. Global Cash Card's cutting edge technology continues to improve, offering more value and greater flexibility to meet the particular requirements of its customers. For more information visit or call (888) 220-4477 ext. 202.

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to . Follow us on Twitter: @mastercardnews.

Source: Company press release.

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San Francisco, June 30, 2010 -- A new Javelin Strategy & Research report issued today – 2010 Mobile Banking Vendor Analysis: Detailed Comparison of Top 12 Providers and Strategies to Address Market Shifts – finds that by 2013, more U.S. adults will have smartphones than feature phones. This shift will break open the mobile banking market, which has experienced lack of consumer confidence and slow growth since its inception 10 years ago.

Previous Javelin research determined that smartphone owners are more likely to try mobile banking, see its value, use it daily, make stickier transactions and rarely abandon it. “Our data show that mobile banking is already a source of profitability for financial institutions, through account-switching and fraud safety. Downloadable apps for Androids, iPhones and other smart phones are creating a whole new ‘always-on user’ experience,” said James Van Dyke, President & Founder of Javelin Strategy & Research.

To capitalize on the confluence of the predominance of smartphones and on-the-go consumers who are more often using their mobile devices as their primary communication tool for conducting personal and business affairs, financial institutions need to act now to create mobile banking strategies that offer triple play modes of access: mobile browser, SMS text banking and smartphone applications.

The Mobile Banking Vendor Analysis report discusses these three modes and includes guidance for financial institutions for developing mobile banking strategies. It also evaluates 12 mobile banking vendors on the three modes of mobile banking services, the depth of their product functionality and the existence of strategic partners that can assist with sales and implementation of their mobile banking offering. ClairMail and M-Com/Fiserv, which each scored nine out of a possible 10 points, took Best in Class top honors. Other vendors that Javelin evaluated are FIS, Firethorn (Qualcomm), Fundamo, Harland Financial Solutions, Jack Henry & Associates, mFoundry, MShift, Monitise Americas, Sybase and Tyfone.

Selected Key Report Findings – 2010 Mobile Banking Vendor Analysis

Financial institutions need to move beyond treating mobile banking as an extension of online banking.

Mobile web is still the preferred way to access mobile banking data, but consumers are moving toward smartphone applications.

The top four financial institutions have implemented mobile banking initiatives and vendors now need to move down-market to mid- and small-sized FIs and credit unions.

The Hispanic and Asian populations in the U.S. – which are frequent users of mobile banking –are growing and financial institutions can tap these markets by offering multilingual mobile financial services.

Consumer adoption of mobile banking has not met market expectations.

“While mobile banking originally got off to a slow start, smartphones have ignited consumer interest and the iPad may be the next technology disrupter that catapults demand. Savvy FIs and vendors should craft or update their strategies to include mobile banking enrollment that can take place via the device without requiring an online banking registration,” said Mary Monahan, Managing Partner and Research Director. “This will position them to cater to current and new customers, who will demand mobility and 24x7 access to their accounts, whenever and wherever they are.”

Javelin’s 2010 Mobile Banking Vendor Analysis report is based on data collected online in July 2009 and March 2010 from two random-sample panels totaling more than 8,211 consumers. The data is also based on information collected during April and May 2010 from executive interviews and surveys of four financial institutions and 12 vendors.

About Javelin Strategy & Research

Javelin provides superior direction on key facts and forces that materially determine the success of customer-facing financial services, payments and security initiatives. Our advantages are rigorous process, independent position and expert people. For more information about this or other Javelin reports, please visit or contact Liz Travers at (925) 225-9100 ext. 31 or

Source: Company press release.

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Financial services firms face social media compliance challenges

Marcia Savage, Site Editor

Brokerages and other financial services firms turning to sites like Facebook and Twitter for marketing and customer outreach face a number of thorny social media compliance issues. Earlier this year, the Financial Industry Regulatory Authority (FINRA), which oversees U.S. securities firms, released Regulatory Notice 10-06.  The notice provides guidance on how FINRA rules governing public communications apply to use of social media sites by financial firms and their employees for business purposes.

Read the full story

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FreedomPay Makes Payments and Transactions Safe, Secure and Convenient for BSA’s 2010 National Scout Jamboree

When 40,000 Boy Scouts celebrate 100 years of scouting at this year’s Jamboree, pre-funded Smart Bracelets from FreedomPay mean Scouts and their parents will leave the cash at home
RADNOR, Pa.--(BUSINESS WIRE)--When 70,000 attendees comprised of 40,000 Boy Scouts and 30,000 visitors and volunteers convene this July in rural Fort A.P. Hill, Virginia for the 2010 National Scout Jamboree, they will be sporting a high tech bracelet that allows them to purchase snacks and souvenirs with the simple swipe of their wrists, all thanks to Radnor, Pennsylvania based FreedomPay, and the company’s highly flexible transaction gateway, FreeWayTM.
“As the Jamboree has grown and evolved over the past 100 years, so have the needs of the Scouts that attend”
As planning began for this year’s Jamboree, which will celebrate 100 years of Scouting, The Boy Scouts of America (BSA) identified the need for a safe, secure and convenient payment solution in its discussions with Scouts and parents. The challenge was to find a solution that could be deployed in a rural, remote location that lacks the infrastructure needed for most payment and transaction providers.
The BSA enlisted the help of FreedomPay to provide a BSA branded Smart Bracelet. The Smart Bracelet provides a virtual wallet that can be funded by parents on-line prior to and during the Jamboree. To enable wireless transactions in the woods of Virginia, FreedomPay worked in concert with a leading mobile infrastructure provider to develop a 3G wireless network that ensures that the Smart Bracelet works, even in the remote environs of rural Virginia.
The result is a customized, easily deployed payment and transaction processing solution that allows Scouts full access to concessions, activities, and memorabilia without the hassle of cash or credit cards. What’s more, the bracelet can also be used as a credit or debit card by BSA staff, Scout leaders and other onsite adults, allowing them the same freedom to securely and conveniently buy concessions at the Jamboree’s Trading Posts.
For Michael Ramsey, Director of Brand Management for the BSA, FreedomPay’s solution offered the high level of security, convenience and flexibility that they were looking to offer parents and Scouts.
“As the Jamboree has grown and evolved over the past 100 years, so have the needs of the Scouts that attend,” says Ramsey. “The transaction solution that FreedomPay has customized especially for this event gives Scouts, and more importantly their parents, an easy, flexible and secure way to give their Scout access to needed funds during the Jamboree. Even better, it eliminates the need to carry cash, which could be lost during the event, and gives parents the ability to add additional funds as needed.”
The rugged, water-resistant Smart Bracelet is easy to set up and means there is no need for Scouts to carry cash, credit cards or a wallet during the Jamboree. Parents can load funds and monitor their Scout’s spending from home. Scouts can purchase snacks, beverages and supplies from the Trading Posts without worrying about losing cash or credit cards, and can even swim while wearing the bracelet.
“The Smart Bracelet for the BSA’s 2010 Jamboree is a great illustration of how our highly flexible and customizable transaction gateway, FreeWay, can be developed and deployed for just about any business or organization,” says Tom Durovsik, Chief Executive Officer of FreedomPay. “The BSA had a truly unique set of circumstances to address their Scout’s payment needs during the Jamboree, including access, location and multiple uses for the Smart Bracelet. The customized options that FreeWayTM offers at the point of transaction, processing and fulfillment allowed for a secure and easy-to-use payment network for Scouts and parents during this important event.”
Parents with Scouts attending the 100th Boy Scout Jamboree in Fort A.P. Hill, Virginia, can set up a stored value Smart Bracelet account by visiting the BSA Jamboree website,, and clicking on the “Smart Bracelet” tab,
To learn more and register for the Smart Bracelet for the Jamboree provided by FreedomPay, parents can also visit
About the Boy Scouts of America
The Boy Scouts of America is one of the nation's largest and most prominent values-based youth development organizations. The BSA provides a program for young people that builds character, trains them in the responsibilities of participating citizenship, and develops personal fitness. The mission of the Boy Scouts of America is to prepare young people to make ethical and moral choices over their lifetimes by instilling in them the values of the Scout Oath and Law. For nearly a century, the BSA has helped build the future leaders of this country by combining educational activities and lifelong values with fun. The Boy Scouts of America believes — and, through nearly a century of experience, knows — that helping youth is a key to building a more conscientious, responsible, and productive society. Visit us online at
About FreedomPay
FreedomPay® helps companies realize new productivity and revenue opportunities through enhanced transaction processing and analysis that delivers greater insight into how companies interface with their customers. With FreedomPay, businesses are free to choose their payment method; cashless, debit/credit, stored-value and vouchers, while also accessing enhanced transaction and payment analysis, security and a single, easy to understand transaction statement. Visit the company at
About FreeWay
FreedomPay’s easily deployed software-as-a-service (SaaS), FreeWayTM, is the world’s most flexible transaction gateway, joining all areas of payment and transaction management into a single, easy to use interface and reporting system.
With FreeWayTM, businesses are free to choose their provider for payments, processing and POS, while giving them limitless transaction solutions, fine tuning of promotional offerings, cross-selling opportunities, and delivering enhanced service at the point-of-sale. FreeWayTM ensures the security of customer data with end-to-end encryption and PCI compliance.



Tara Keller

Marketing Manager



Gregory FCA

Lauren Rumsey

Account Executive


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http://www.fisglobal.comJACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS™ (NYSE:FIS), one of the world’s largest providers of banking and payments technology, today announced the completion of the amendment and extension of its existing credit agreement, and plans to enter into a new Term Loan B under the amended credit agreement.

“We are pleased with the progress we have made towards finalizing the recapitalization and stock buyback program that we announced in May”
The amended and extended credit facility, which totals $3.4 billion in the aggregate, includes $2.0 billion of Term Loan A and $933 million of revolving loan capacity that will mature in July 2014, as well as $397 million of Term Loan A and $103 million of revolving loan capacity that will mature in January 2012. The amended agreement provides FIS with approximately $560 million of incremental proceeds from the Term Loan A and approximately $140 million of additional revolving loan capacity. The company also announced plans to incur incremental debt through a new $1.4 billion Term Loan B. The proceeds from the additional extended Term Loan A and the new Term Loan B will be used to refinance FIS’ existing Term Loan B assumed in the acquisition of Metavante Technologies, Inc., and to partially fund the previously announced leveraged recapitalization and share repurchase plan. Further details will be provided in the coming weeks.
“We are pleased with the progress we have made towards finalizing the recapitalization and stock buyback program that we announced in May,” stated FIS President and CEO Frank R. Martire. “The extension and increased financial commitment from our existing lenders signifies the strong relationship we have with our bank partners and provides FIS with additional flexibility to facilitate the recapitalization and manage our business on an ongoing basis.”
JP Morgan Securities, Inc., Bank of America Securities, LLC and Wells Fargo Securities, LLC acted as joint lead arrangers of the credit facility.
Forward-Looking Statements
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. FIS undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, use of the incremental borrowings under the credit agreement and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of FIS’ Form 10-K and other filings with the Securities and Exchange Commission.
Additional Information
This news release is for informational purposes only and is not an offer to purchase or the solicitation of an offer to sell any shares of the company’s common stock. The solicitation and offer to purchase the company’s common stock will only be made pursuant to the offer to purchase and related materials that the company will send to its shareholders. Shareholders will be able to obtain free copies of these materials and other documents filed by the company with the Securities and Exchange Commission when available at or at the Investors section of the company’s website at Shareholders are urged to carefully read these materials prior to making any decision with respect to the offer because they will contain important information about the offer.
FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE Network. FIS maintains processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor's (S&P) 500® Index and consistently holds a leading ranking in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 on a global basis. FIS is listed on the New York Stock Exchange under the “FIS” ticker symbol. For more information about FIS see


FIS Global Marketing and Corporate Communications

Marcia Danzeisen, 904.854.5083

Senior Vice President


FIS Investor Relations

Mary Waggoner, 904.854.3282

Senior Vice President

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The premier provider of wholesale roadside assistance programs partners with Ceridian Stored Value Solutions to launch new corporate Prepaid MasterCard® card
LOUISVILLE, Ky.--(BUSINESS WIRE)--Ceridian Stored Value Solutions (SVS), a leading prepaid, gift card, and stored value solution provider, has partnered with Vehicle Administrative Services, Ltd.(VAS) to implement Maintenance Pro Plus (MPP) Direct Vehicle Maintenance and Protection Program.
“Our prepaid expertise and service combined with their desire to take care of customers when they need it most has created another winning combination.”
VAS, the premier provider of wholesale roadside assistance and ancillary automotive benefit programs, is launching Maintenance Pro Plus Direct Prepaid MasterCard® which will be pre-loaded with funds to allow customers ease of use when redeeming their maintenance benefits under their MPP Direct maintenance service plan. The card may be used at any nationally recognized automotive repair/maintenance quick-lube location, auto dealer service department, or licensed repair facility that accepts Debit MasterCard™.
“MPP Direct will provide our customers with many valuable automotive related maintenance benefits designed to off-set their out-of-pocket expenses,” said Michael Reth, chief financial officer of VAS. “By partnering with SVS to provide our customers with this prepaid debit card payment solution, MPP Direct will be the first vehicle maintenance service plan that offers this type of flexibility, convenience and prompt direct payments to any service center that provides service under our program. MPP Direct will be the first of its kind using a prepaid card solution making vehicle maintenance easy for our customers. They now have the convenience of choice.”
“We are excited to work with VAS to bring this concept to market,” said Keith Sorrels, senior vice president of Sales and New Business Development for Ceridian Stored Value Solutions. “Our prepaid expertise and service combined with their desire to take care of customers when they need it most has created another winning combination.”
Ceridian Stored Value Solutions is the world’s premier provider of custom gift card solutions, serving marquee household brands from a variety of industries around the world. As a leading prepaid service provider, Ceridian Stored Value Solutions manages more than five hundred million card products and processes over one billion transactions annually. Ceridian Stored Value Solutions is based in Louisville, KY, and is owned by Minneapolis-based Ceridian Corporation.
About Vehicle Administrative Solutions (VAS) / MPP Direct
Vehicle Administrative Services, Ltd. (VAS) is the premier wholesale provider of automotive related benefits specializing in emergency roadside assistance and first notice of loss services in the United States. With 20+ years of management experience, our 24-Hour, 7/365 days a year North American Service Network provides coverage in all 50 U.S. states, Canada and Mexico. VAS is proud to call many fortune 500 companies clients and works with each and every one to provide a seamless, professional, wholesale benefit offering. MPP Direct is maintenance service and vehicle appearance protection plan ( VAS is based in Addison Texas.
The Maintenance Pro Plus Direct Prepaid MasterCard is issued by MetaBank™ pursuant to a license by MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.


Ceridian Stored Value Solutions

Jenny Parris, 502-394-1554

Marketing and Communications

At A Glance

Ceridian Corporation
Source: via Business Wire
Updated   02/16/2010   by company
Headquarters:Minneapolis, Minnesota
CEO:Lee A. Kennedy

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Kapersky Calls for Mass Adoption of Card Readers

Kapersky Calls for Mass Adoption of Card Readers