PINcept.com: June 2010

Impossible to Protect Anything that Connects with the Internet, Even https and Encryption

From the e-Secure-IT News Feed Reliance on passwords is biggest security threat, says hacking expertfrom 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...

Posted by John B. Frank Wednesday, June 30, 2010 0 comments

Overdraft Protection Ends July 1st, 2010 Unless You Consent

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. WASHINGTON, June 30 /PRNewswire-USNewswire/ -- Starting tomorrow, banks must obtain permission...

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Look What Congress Just Did to the Debit Card Market

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...

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CPNI P2P Payment Solution PATsend Further Expands Industry Leading Recipient Pool Capabilities

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

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22 Million SSL Certificates Invalid, Only 3% Configured Properly

Slashdot is reporting that 22 Million SSL Certificates in use are invalid: From the e-Secure-IT News Feed22 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...

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Mercator Report: Pressures on Canadian Debit Market Leads to Opportunities

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...

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Global Cash Card, MasterCard to Offer GEM Payroll Card

Image via WikipediaIrvine, 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...

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New Javelin Report: Smart Phones will Dominate Mobile Market by 2013

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...

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Don't Let Twitter and Facebook Lead to Compliance Challenges

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...

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40,000 Boy Scouts Get Pre-Funded Smart Bracelots from FreedomPay

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

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FIS Announces Completion of Amendment and Extension of Existing Credit Agreement and Plan to Raise Additional Funds

JACKSONVILLE, 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...

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Ceridian Stored Value Solutions Travels the Road with Vehicle Administrative Services

The premier provider of wholesale roadside assistance programs partners with Ceridian Stored Value Solutions to launch new corporate Prepaid MasterCard® cardLOUISVILLE, 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...

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