Alto Global Processing: Russia To Introduce National Payment Card

The Central Bank of Russia has revealed plans to launch a national payment card that will both rival Visa and Mastercard and create more choice for consumers, according to the country’s officials.

The card, which is the first of its kind in Russia, will use technical infrastructure provided by one of the country’s existing payment systems, with Sberbank’s Pro100 and Zolotaya Korona both being considered as partners. The latter, which means “Golden Crown”, was developed by the Centre of Financial Technologies Group, based in Russia. The chosen operator will clear payments made within Russia using the national card system, but the card will also be valid for payments abroad.

The move was welcomed by Russian Prime Minister Dmitry Medvedev as a way of giving Russian consumers more choice. However, it has also been interpreted as a reaction to financial sanctions imposed by the US over the Ukraine crisis, which led to Visa and Mastercard blocking card operations by Rossiya and SMP banks. Both institutions have been blacklisted by the Obama administration due to close ties between their key shareholders and Russian President Vladimir Putin. In addition to competition created by the national payment card, new rules mean that Visa and Mastercard will have to place collateral deposits into special accounts created at Russia’s Central Bank in order to continue operating in the country.

The national payment card system operator is undergoing state registration,” said Elvira Nabiullina, the Central Bank’s chief. “We have a roadmap for infrastructure development and the Central Bank has set up a commission composed of MPs, senators and government members for finding technological solutions.”

Source: http://www.paymenteye.com/2014/06/20/russia-to-introduce-national-payment-card/?utm_source=PaymentEye+Daily+Newsletter&utm_campaign=bf9e1621ce-20_06_2014&utm_medium=email&utm_term=0_3bd2a3a3c5-bf9e1621ce-14476705

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Safari In iOS 8 Uses Camera To Scan and Enter Credit Card Info by JORDAN KAHN of 9to5mac.com

In iOS 8, Apple has a new feature in Safari that allows users to scan a credit card with the device’s camera rather than manually entering the number when making a purchase online.

When entering a credit card number into a form online to, for example, make a purchase, Safari already allowed users to quickly select credit cards stored in its Passwords & AutoFill settings. You can still do that, but in iOS 8 you’ll now also have the option to select “Scan Credit Card” and snap a picture of the card. Apple then uses optical character recognition of sorts to input the number into the text field in Safari. There’s also a way to scan and save cards using the camera directly from within the Passwords & AutoFill settings.

Website developers don’t have to do anything to enable the feature, as Safari appears to automatically detect when a credit card number is being requested and presents the option to scan above the keypad.

Written by:   @JordanKahn for http://9to5mac.com

Source: http://9to5mac.com/2014/06/05/safari-in-ios-8-uses-camera-to-scan-and-enter-credit-card-info/

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Alto Global Processing: DISH Network Becomes Largest Company Accepting Bitcoin

alto global processing dish network card not present DISH Network said this morning it will begin accepting bitcoin payments. Bitcoin processor Coinbase confirmed its role as DISH’s processor in a short post on the company’s corporate blog. The satellite- TV service said it would accept the digital currency as payment beginning Q3 this year. DISH said it is the largest company so far that accepts bitcoin as payment, and the first subscription-based TV provider.

While Bitcoin had a run of negative publicity in February and March, the ship seems to have righted itself over the past few weeks. Investors remain optimistic, the regulatory environment is beginning to become clearer and a recent study said Bitcoin will become more prominent in the U.S. as an alternative to credit cards online. And, last week, Bitnet, a new company touting deep experience in the traditional payments industry, officially launched at the CNP Expo in Orlando, Fla.

DISH displaces retailer Overstock.com, which began accepting bitcoin payments in January, as the most prominent company to accept the cryptocurrency.

“We always want to deliver choice and convenience for our customers and that includes the method they use to pay their bills,” said Bernie Han, COO of DISH. “Bitcoin is becoming a preferred way for some people to transact, and we want to accommodate those individuals.”

Source: http://cardnotpresent.com/news/cnp-news-may14/DISH_Network_Becomes_Largest_Company_Accepting_Bitcoin_-_May_29,_2014/

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Alto Global Processing: State Of The Art Microchip Technology Can Save American Merchants And Consumers Over USD190bn Per Year

By  of  Paymenteye

De Sonneville International has announced it has filed two US patent applications that are the solution to end the systemic US credit card fraud epidemic. According to Forbes and a 2009 Lexis Nexis study –  The True Cost of Fraud, the United States loses an estimated USD190bn per year to credit/ debit card fraud, which is more than the country spends on energy.

In recent years, certain technological advances have been introduced to combat the counterfeiting of payment cards. Such advances include the introduction of Chip and PIN, which is also known as EMV. It is apparent from works such as the University of Cambridge’s Chip and Pin is Broken, and the BBC’s Newsnight’s new flaws in chip and pin system revealed, that Chip and Pin is far from fool proof, let alone a firm security and defence against fraudsters. Such sophisticated fraudsters continue to find ways to circumvent the Chip and Pin protocol, and defraud people of billions of dollars every year.

In the case of SIM cards, the same is taking place. Sophisticated fraudsters have discovered ways to by-pass the security features and gain access to mobile networks to commit crimes under assumed identities and to use the network without payment. According to the Communications Fraud Control Association (CFCA), ‘Experts estimate 2013 fraud losses at USD46.3bn, up 15% from 2011 and the main reason for the relative increase in fraud is due to more fraudulent activity targeting the wireless industry.’

As recorded and filed in De Sonneville’s US patent application on April 9th, 2014, its microchip self-authenticates before it can perform any subsequent action or function. Simply put, if the chip does not authenticate itself, through the authentication circuit, it does not allow the chip to proceed to process a payment at a point-of-sale (POS) or, in the case of a SIM card, to access the mobile network. This has obvious benefits in protecting against the counterfeiting of payment cards and SIM cards.

Also, conveniently, De Sonneville has developed its’ self-authenticating SIM card as an encrypted payment SIM card that can be accepted at any radio-frequency (RF) or NFC POS. The self-authenticating SIM cards contain the same payment data as a payment card (in an encrypted form), and are operable to a contactless POS. Currently, contactless transactions are limited to an average of approximately USD50 per transaction. De Sonneville’s payment cards and payment SIM cards will be used for any amount that the user’s payment limit allows.

“Convenience does not have to be a choice over security,” said De Sonneville’s Chairman and technology co-inventor Dennis van Kerrebroeck.“Companies have become accustomed to payment card fraud as a cost of doing business, which is wrong. In this day and age, merchants and consumers have the right to be assured by their payment network providers that their payment card purchases are conducted without compromise. According to the study conducted by Lexis Nexis, (The True Cost of Fraud – 2009), in the US, over the next 10 years, the payment card fraud losses will equate to more than USD1.9 trillion, unadjusted, and that is simply not acceptable. Ultimately, these costs are passed on to the consumers and the merchants; we want to eliminate these costs by giving consumers and merchants a better option.”

The payment account information on De Sonneville’s chips cannot be intercepted. If the chip does not perform its’ patent pending self-authentication, the card does not allow itself to transmit the payment data through to the POS and then on to the network, and therefore would instead terminate the attempted transaction as counterfeit. This eliminates pre-play attacksman-in-the-middle attacks, cloning and the like.

Before a De Sonneville SIM card can gain access to its mobile network, it must first perform its patent pending self-authentication, therefore ensuring the SIM, the subscriber, the communication or a mobile payment is authentic. This stops call and text message interception. Other applications include ID cards, passports, and access systems. De Sonneville’s payment SIM cards protect the payment data in the same manner as its’ traditional payment card. In the future, and as required, the Company would be able to seamlessly integrate digital currency transactions throughout its payment network, POS terminals, payment cards, and SIM cards.

It is the mission of De Sonneville and its potential partners in banking, wireless communications, networking and large retailers, to build a new global payment network that will include encrypted payment cards and encrypted POS terminals all the way through to bank settlements, thus working towards eliminating payment card and SIM card counterfeiting, as well as the subsequent fraud that accompanies it.

Current global payment networks process in excess of USD6 trillion annually. The average merchant discount in the United States is 1.9%, and the average interchange fees break-down as 0.1% goes to the acquirer, 1.7% to the issuer, and 0.09% to the network.

There are currently approximately 6 billion SIM cards in use in the world. The Company is currently in the process of selecting an investment bank to represent its private capital needs for development of its technology, and in an anticipated subsequent initial public offering.

Source: http://www.paymenteye.com/2014/04/29/state-of-the-art-microchip-technology-can-save-american-merchants-and-consumers-over-usd190bn-per-year/?utm_source=PaymentEye+Daily+Newsletter&utm_campaign=c7973ffb82-29_04_2014&utm_medium=email&utm_term=0_3bd2a3a3c5-c7973ffb82-14476705

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Alto Global Processing: Target CIO Resigns Following Massive Data Breach

Posted by  (@sarahintampa) for TechCrunch.com 

Target Corp.’s Chief Information Officer Beth Jacob is resigning, effective immediately, in the wake of the massive data breach during the holiday 2013 shopping season during which as many as 70 million customers had their personal information stolen, including 40 million debit and credit card accounts.

The retailer also said it would be overhauling its information security practices and compliance division, and would be looking for external candidates to serve as interim CIO.

Jacob had worked at Target from 1984-86, then returned in 2002 as Director of Guest Contact Centers. She was promoted to her current position in 2008, after becoming a VP two years prior.

“While we are still in the process of an ongoing investigation, we recognize that the information-security environment is evolving rapidly,” Target Chairman, President and CEO Gregg Steinhafel said in a brief statement released this morning. “To ensure that Target is well positioned following the data breach we suffered last year, we are undertaking an overhaul of our information-security and compliance structure and practices at Target.”

This also includes elevating the role of the Chief Information Security Officer – another position that Target will hire externally, along with a Chief Compliance Officer.

The company also noted that it’s working with external adviser Promontory Financial Group to help it with its transformation.

Target has been working towards the implementation of chip and PIN card support, a tool that will further ensure customer security. The company also offered free credit monitoring for a year in the wake of the breach disclosure.

Hackers connected to the internal wireless systems at Target stores and grabbed credit card information as it passed through the system. The resulting breach, one of the biggest to date, resulted in millions of credit cards being sold on the black market.

Additional reporting: John Biggs

Source: http://techcrunch.com/2014/03/05/target-cio-resigns-following-massive-data-breach/

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Alto Global Processing: Target Breach Widens, Neiman Marcus Also Admits to Attack by CardNotPresent.com

011314-Target-Breach-Widens-Neiman-Marcus-Admits-to-Attack

On Friday, Target disclosed that the security breach it originally said exposed the payment-card information of up to 40 million U.S. consumers, may end up affecting more than 70 million. The retailing giant acknowledged on Friday that, in the course of its investigation of the original breach, the company uncovered 70 million accounts where names, mailing addresses, phone numbers and emails were compromised. The company acknowledged that overlap between the two breaches—that is some customers whose credit-card numbers were stolen also had their names, emails and other information hacked as well—was “likely.”

And, this weekend, Dallas-based luxury department store Neiman Marcus also admitted it had been hacked during the holiday season. In a statement, the company said it had been informed by its processor in mid-December of “unauthorized payment card activity.” The retailer has not disclosed any guesses on the size of the breach and has enlisted both the U.S. Secret Service and a third-party forensics firm to investigate.

A Reuters report yesterday suggested three breaches that hit “well-known” but unnamed retailers earlier in the year were tests for hackers for the big holiday breaches. Sources told Reuters the techniques used in the smaller attacks were similar to the ones that hit Target and Neiman Marcus. The sources suspect the attacks were carried out by the same criminals but cannot be sure.

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Alto Global Processing: Datacard Group acquires Entrust Inc.

Datacard Group, a provider of secure identification and card personalisation solutions, has acquired Entrust, a provider of secure digital identities and information and a Thoma Bravo LLC portfolio company. Image

The acquisition builds on the strengths of each company to enable its customers and partners to deliver better services in highly connected environments.

“We are pleased to announce the proposed combination of two market pioneers with one ambitious goal – helping our customers and partners reduce complexity while strengthening trust,” said Todd Wilkinson, president and CEO of Datacard Group.“Connectivity is redefining physical and digital boundaries. For our customers and partners, this means opportunity, but also significant complexity. For years the paths of our companies have intertwined as we served customers – often the same financial and government customers – from different points within the technology spectrum. Those paths now converge to bring powerful new innovations in secure identity to enable trust while reducing complexity in deployment, management, and use.”

“Entrust is firmly established as a leader in identity-based security. We take this position very seriously, and because of that it was important that we find the right partner,” said Bill Conner, president and CEO of Entrust. “As a result of our deliberate shift to a SaaS-based business model, a significant portion of Entrust’s revenue is recurring, positioning it well for growth. I’m confident both Entrust and Datacard customers will realize value from our companies’ combined expertise. Simply put – this is a win-win scenario.”

 Source: http://www.paymenteye.com/2014/01/06/datacard_group_acquires_entrust_inc/#.UsrNpWRDtLo

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