The ROC is a summary of findings resulting from a Payment Card Industry (PCI) Data Security Standard audit.  The report details the security protocols of a company’s network environment that processes and/or transmits credit card data.  The ROC is submitted to credit card associations for validation of compliance with the PCI standard.

    In a prepared statement, the committee said it cannot recommend proceeding with a transaction at that price level. The special committee will explore alternatives that will enhance stockholder value, including, without limitation, the sale of the company with potentially interested purchasers and a recapitalization transaction, as well as remaining independent and not undertaking any such transactions.
    Mr. Daily, after notification of the special committee's determination, withdrew his proposal and stated that he would be willing to participate in any process conducted by the board with respect to exploring strategic alternatives, but only if he were granted certain waivers in connection with Delaware law and the company's stockholder rights plan to permit him to engage in discussions with certain members of management who also are stockholders of the company.
    “The special committee determined not to grant such waivers at this time in order to ensure that members of management are not perceived to be supporting a transaction with Mr. Daily as compared to a transaction with other potential bidders.” The special committee emphasized that no decision has been made at this time to sell the Company or effect a recapitalization transaction or undertake any other strategic transaction.

    Under a new corporate governance and ownership structure, MasterCard's current shareholders, approximately 1,400 financial institutions worldwide, are expected to retain a 41 percent equity interest in MasterCard Incorporated through their ownership of non-voting Class B common stock. In addition, existing shareholders will receive Class M common stock that will have no economic rights but will provide them with certain rights, including the right to elect several directors from financial institutions around the world.
    MasterCard also intends to issue shares of voting Class A common stock to public investors through an initial public offering. Upon successful completion of the offering, these public investors will hold shares representing an expected percent of the company's equity and 83 percent of its voting rights. Additional shares of Class A common stock, representing an expected 10 percent of the company's equity and the remainder of its voting rights, will be issued to a new MasterCard charitable foundation.
    MasterCard intends to use a portion of the net proceeds from the proposed initial public offering to redeem shares of Class B common stock from its existing financial institution shareholders.

    “This decision clears the way for us to continue to make and build upon the considerable investments in our superior service technology and intellectual property that we believe provides customers with the most dependable service available,” said David Bucci, Senior Vice President of Diebold Customer Solutions.
    A month earlier, the U.S. District Court for the Northern District of California denied a motion filed by FSPA seeking a preliminary injunction to prevent Diebold from implementing its policies on ATM software, parts and documentation.
    Last October, the FSPA filed the lawsuit on behalf of its members, which include several third-party maintenance providers that service ATMs manufactured by Diebold and other similar companies. Diebold vehemently denied the allegations.

    Any merchant using VirtualPay to process credit card or e-check/ACH payments are now able to access the mobile version with their Internet-enabled cell phone or PDA by simply navigating to the same Web site URL they use to access their virtual terminal.
    The Paradata application detects their mobile device and formats the content appropriately. All mobile transactions are logged in Paradata’s Merchant Support Center, as they would be when using VirtualPay through a PC.

    Merchants using this product are not required to establish separate bank accounts and credit lines in each country where payments are accepted and can consolidate funds into one currency with a single banking entity for easier funds transfers and funds management.
    Merchants get a single file transmission of all currencies, real-time authorizations and complete chargeback management. Paymentech guarantees the exchange rate for each transaction, including chargebacks, which tend to be reduced because merchants are able to bill customers in their local currency.
    The product is designed to help merchants localize their marketing campaigns

    Of the companies offering some form of customer incentive, 40 percent are using gift cards most often, second only to product or service discounts at 52 percent. Twenty-nine percent said that their primary use of gift cards was for the consumer market, while roughly the same number (28 percent) said their primary audience for gift card incentives was for the business-to-business market. The remaining 43 percent split their use of gift cards as incentives among consumers and other businesses equally.
    According to the companies surveyed, the most popular gift cards given as customer incentives are for: Sit-down/table service restaurants, (67 percent); specialty stores (56 percent); department stores, (45 percent); and large discount stores (40 percent).
    The study showed a strong interest by incentive decision makers in expanding use of gift cards for customers in the coming year. Twenty percent of the companies currently offering gift card customer incentives said they will increase use in the coming year, and 52 percent of all companies surveyed said they are likely to use gift cards as customer incentives in the coming year.
    Top reasons for the strong interest in gift cards are similar to previous ValueLink studies:  Easy/convenient to give and use; valued and seen as a good reward; and strength in meeting customer relations objectives.

    The Internet Protocol solution will be targeted to convenience stores in the United States. The RBS Lynk IP solution benefits merchants with faster transactions and cost savings as they can leverage existing high-bandwidth Internet services to handle ATM transactions, reducing their reliance on dedicated phone lines.

    TUSA offers consumer money transfer services, primarily between consumers in the U.S. and Latin America, and bill payment services within the U.S. The company will operate under the name Euronet Payments and Remittance, Inc., and will be part of Euronet's prepaid processing segment.

    The court also found that the merchants had no factual basis to support their allegation that MasterCard set the merchant discount fee.
    The lawsuit, filed by several merchants last year, was directed at payment card transaction fees, alleging that the defendants violated Section 1 of the Sherman Act by setting merchant discount and interchange fees. The plaintiffs sought both monetary relief and an injunction.
    The Court found that the retailers lacked standing to challenge the payment card transaction fees MasterCard establishes for the merchants' banks to compensate issuing banks, commonly known as interchange fees. The Court also found that the retailers alleged no facts to challenge MasterCard or the other defendants with regard to the setting of the merchant discount fees - the fees merchants are charged.
    "This is the first recent decision to address the challenge to POS interchange fees in the United States. The strength of the decision, coupled with its conclusiveness, represents a key win for MasterCard and our customers. We are pleased that Judge White applied existing antitrust precedent and dismissed plaintiffs' claims that the setting of interchange rates and the merchant discount rates somehow violate the U.S. antitrust laws," said Noah J. Hanft, MasterCard General Counsel. "We have always maintained that interchange fees are efficient, pro-competitive and essential to the operation of a four-party system. Judge White's decision should send a strong message to class action plaintiffs' lawyers who have recently sought to bring similar claims against MasterCard and our members."

    PDC has worked with Ezic to launch the technology introducing the kiosk and wristband combination at the Jacksonville SuperBash, an official Super Bowl event, in February, 2005. They have since been installing kiosks in stadiums, water parks, and fair grounds. Patrons were able to load money from a credit card or debit card onto a wristband through a kiosk. Each vendor was equipped with readers to display the balance and deduct their sale from the wristband each time the patron wished to purchase something.

    Wachovia has selected instant issue software from DCS to standardize and enhance two specific programs to start: the University of North Carolina at Chapel Hill's One Card program and the University of North Carolina at Greensboro's First Card program.  Wachovia and DCS worked together to integrate the CardWizard instant issuance software into each school's existing network platforms, making the instantly issued student ID and Visa check card possible.  Now, when students get their IDs on campus, they have the option to open a Wachovia checking account that can be linked to deduct funds automatically from the student's checking account when he or she uses it as a debit card.

    The POSLynx220 connects up to four existing dial or serial based POS devices, including payment terminals, ATMs, PC cash registers, and petroleum monitors to broadband networks. It is the ideal solution to help high volume convenience, foodservice and other merchants eliminate dedicated dial lines.
    The POSLynx220 also offers SSL security, split dial for greater application flexibility, and dial back-up for enhanced reliability. For the first time, the POSLynx220 will be released with NetVuT, a network configuration manager designed to streamline deployment.