The nine casinos include Horizon Casino Resort, Lake Tahoe, Nevada; Remington Park, Oklahoma City, Oklahoma; The Stables Casino, Miami, Oklahoma; Kickapoo Casino, McLoud, Oklahoma; Deerfoot Inn & Casino, Alberta, Calgary; Finger Lakes Racetrack, Farmington, New York; Mazatzal Casino, Payson, Arizona; Cher-ae Heights Casino, Trinidad, California; and Golden Nugget, Laughlin, Nevada.
VIP LightSpeed is an Internet-accessible, PC-based platform that provides cash access services for traditional and electronic check cashing, ATM check cashing, credit and debit card cash advances, player histories and credit reports. In addition, VIP LightSpeed provides highspeed processing of cash access transactions, reduction of risk associated with check-cashing and cash advance services, and a full spectrum of management reporting tools.
Note from the Editor
Gaming. Now there is a hot Canadian payments topic. Canadian banks earn handsome fees in their card issuing business from the booming online gaming industry. However, they will likely deny any involvement in gaming. One of
The morals of processing for the thriving gaming industry is for each person or company to decide for themselves. I do not pass judgment on those who do or do not involve themselves in that business. However, I do judge those, such as some Canadian banks, who say they abhor gaming, and yet continue to profit from it in spades. I would support a line item in each Canadian bank financial statement indicating direct and indirect revenue from online gaming. I posit that some morally inclined shareholders would divest from Canadian banks if they knew from where their record profits were drawn.
On a lighter topic, MasterCard has now followed Visa’s lead in admitting Global, Moneris and Paymentech representatives to its board. The third party processing and acquiring business now has seats at the Canadian bank associations. This is a great move to the non-bank acquiring business that is poised to become competitive and entrepreneurial.
Finally, if you are looking for new business relationships in the Canadian payments market, there is no better place to advertise than in our pages. We invite you to call our advertising department to book an advertisement in our next issue 514-667-7016.
We wish all our readers a great Canadian spring.
Adam N. Atlas
Editor in Chief
The Frontier Times Team
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NEWS
Global, Moneris, & Paymentech Join the MasterCard Canada Board
"The addition of more acceptance-side representation on the board epitomizes MasterCard's commitment to transparency and being the best business partner in payments," said Kevin Stanton, President, MasterCard
Also joining the Board of Directors are Amolak Grewal, Chief Operating Officer, ATB Financial, and Stephen Stewart, Senior Vice President, Operations, President's Choice Bank.
Kathryn (Kathy) P. Silmser, Senior Vice President, Cardholder Services, BMO Bank of
The addition of non-bank processors to the MasterCard board follows a similar addition by Visa
Protection laws urged on pre-authorized debits
The six-member Canadian Consumer Initiative is calling for Parliament to revise the existing legislation governing electronic payments in the upcoming Bank Act review.
With electronic payments being used more and more often by most Canadian consumers than notes and coins, the coalition argues that new legislation is required to govern the millions of electronic transactions that happen each year.
Pre-authorized debits allow companies to withdraw money from a customer’s bank account after obtaining his or her consent. In March the coalition commissioned an Environics survey which found there are more than 1,000 Pre-authorized debit problems that happen every day.
The survey interviewed 2,035 Canadians and discovered that 66 per cent of Canadian households use pre-authorized debits to pay for various types of bills.
The survey suggests that when consumers noticed a problem, 44 per cent turned to their financial institution. But in 25 per cent of these cases, the bank sent them to the merchant.
The coalition says that this is contrary to a rule adopted by the Canadian Payments Association which requires financial institutions to reimburse their customer immediately in most cases.
Payment Industry Works Together for a Smooth Migration to Chip Technology in
Toronto, April 26 06 - Members of the Interac Association, MasterCard Canada Inc., Visa Canada Association, and many of their card issuers and acquirers announced a commitment to an industry migration to chip technology.
The payment card industry has come together to ensure a common set of international standards around this new technology. This global standard, known as EMV™, allow for the balancing of policies, procedures and technical standards among all payment schemes and simplifies the execution requirements for payment system participants, including merchants.
The move to chip card technology is the latest improvement in the debit and credit card environment, and demonstrates the industry’s efforts to further secure Canadian electronic payments.
In addition to providing increased security, the technology behind the chip card also offers both merchants and cardholders superior convenience at POS.
During the transition period to chip, magnetic stripe cards will continue to provide Canadians with a reliable and convenient method of payment.
Satellite Networks has approximately 81 employees. Advantech, a leading designer and manufacturer of satellite and wireless telecommunications products, employs 300 people in locations across the
Keyloggers Replace Phishers
International, April 30 06- Phishing is already outdated among global cyber criminals. What’s replacing phishing is the keylogger. Hidden software secretly downloaded to a user’s computer that captures and reports back the specific keystrokes entered by the user including username and password combinations.
Keylogging’s simplicity is most likely the reason for its sudden popularity among thieves. Phishing takes a lot of time and effort.
An estimated 10 Million computers in the
Esso and RBC offer Speedpass with debit card
Montreal, April 21 06-In Canada, Esso also known as Imperial Oil has expanded its Speedpass technology for customers who bank with RBC Royal Bank.
The Speedpass with Debit capability allows RBC Royal Bank cardholders to pay for purchases at Esso retail outlets from their RBC account without using their actual card. Speedpass with debit is linked to the client’s card account.
To complete a transaction, the customer points the key tag at the pump, or POS terminal in-store, and then it selects the appropriate payment account and enters their PIN.
Different coloured key tags will help customers distinguish between credit and debit - black for credit and blue for the new Speedpass linked to RBC Client Cards. Speedpass can be used at all participating Esso-branded retail stations and On the Run stores throughout
So you don’t miss the previews
Moviegoers carrying PayPass MasterCard cards will be able to pay for tickets and concession items by simply tapping their cards at designated PayPass readers.
Cineplex Entertainment will execute the MasterCard PayPass program in three theatres in the Greater Toronto Area: Cineplex Odeon Queensway Cinema, SilverCity Mississauga, and Coliseum Mississauga. Cineplex Entertainment will expand the program to more than 100 Cineplex Entertainment theatres across the country throughout 2006.
Smart cards and cashless payments catching on in
Pay By Touch is a free service that allows you to pay with your fingerprint at certain stores. Your finger image securely links you, and only you, to your accounts. This system works as a kind of electronic wallet, allowing you to choose a method of payment from a Pay By Touch account that you set up on their website.
The system is now also much more affordable to retailers than it was a few years ago. Today Pay By Touch offers fingerprint scanners for $50 each, while three years ago those same scanners were $2000 each. And at a cost of only 15 cents per transaction, it’s a much more affordable option than paying the surcharges that go with accepting credit and debit cards. Pretty soon we won’t even need a wallet.
DirectCash Purchases ATM Assets
Acquired assets include 260 ATMs and long-term ATM processing and service contracts, inventory, and vault cash. Moneta operates a network of 260 ATMs, all of which will be converted to the DirectCash ATM banner.
DirectCash has expanded its credit facilities to take advantage of its strong balance sheet and good leverage, to position itself for additional acquisition opportunities should they arise. DirectCash increased the limit on its acquisition credit facility from $15.0 million to $30.0 million.
DirectCash is the largest branded ATM provider in
CyberSource and Visa Canada Bring eCommerce Fraud Detection System to Canadian Merchants
CyberSource Advanced Fraud Screen provides fraud risk prediction scores. It does so through behavioral scoring by assessing over 150 order variables such as Canadian and international address validation, order frequency, and order history. Risk scores are typically calculated in less than 2 seconds. This service is a component of the CyberSource Decision Manager System and Managed Risk services.
Small Businesses Get ‘Zero Liability’ Card
New York, May 5 06- Financial institutions that issue credit and debit cards with a MasterCard logo will soon start paying for small-business cardholders whose plastic is used without their permission.
MasterCard International Inc. plans to announce that it is extending its 12-year-old zero liability policy to owners of small businesses and their employees. MasterCard’s current policy applies to cards that are dedicated to personal use.
The card industry is encouraging small businesses to put more purchases on plastic. Although the industry has been successful in convincing consumers to pay for everyday purchases with debit or credit cards, 75% of small-business payments are still made with cash and checks.
While Visa and American Express already provide some fraud coverage for smallbusiness cardholders, MasterCard will offer the protection on both credit and debit cards Visa, on the other hand, has a zero-liability policy for small businesses that use its branded debit cards, but not its credit cards.
Corn on the Card
This new plastic will be called Corn Card USA. This environmentally friendly alternative to the petroleum-based cards currently used for credit cards, gift cards, and prepaid cards alike, is the first of its kind.
RSA Security Acquires PassMark Security
The acquisition of PassMark will increase RSA Security’s channels-to-market in the financial sector by adding strength to a growing distribution network.
The deal also gives more than 20 leading financial institutions the ability to contribute information to the RSA eFraudNetwork, which could be an advantage to their online banking customers by protecting them from online fraud.
RSA Security purchased PassMark for total of $44.7 million, which consisted of $9.0 million in cash and the issuance of approximately 2.0 million shares of RSA Security common stock.
Bank of
As a result of the latest move by the Bank of Canada, consumers should expect to see higher interest rates for things such as lines of credit and variable rate mortgages.
The Bank of Canada hinted in its commentary it may have plans to hike rates again to keep the economy moving and inflation under control. The Bank of Canada’s next decision on interest rates is set for May 24.
Rent-a-Guard Empire bulks up
11 per cent higher, reaching a new peak at $24.45.
The approximately $60-million deal has loans from BMO Nesbitt Burns and
FEATURES
TNS Teams with Precidia for IP Migration
FusionPoint Express provides a secure path for legacy dial and serial POS devices over TNS or customer-provided IP networks to major card processors worldwide. Precidia's IP access products, which feature the NetVu network configuration management tool suite, deliver a cost effective and actively managed IP migration path for POS equipment.
Precidia has customized its access devices and management system to support TNS' monitoring and authentication requirements, offering a wide range of powerful new deployment, diagnostic, and transaction routing capabilities.
The DPL Group saves the day and foils ATM & store theft
At approximately
A quick trip to the convenience store where the ATM was located revealed two persons inside the store filling bags with cigarettes, lottery tickets, and other easily-cashable items. The police were immediately notified and arrived at the location within minutes. The robbers must have witnessed the truck slowing down as it passed the store prior to calling the police and took off before they arrived.
The robbers had defeated the store alarm by cutting the phone line. The quick response by the DPL Group to the ATM’s alert actually foiled the robbers attempt to pry open the ATM for the cash inside and saved the store owner over $10,000 in cash and goods that the robbers left behind.
The DPL Group is now in the process of switching all of it’s ATMs from regular phone line connections to wireless communicators. The peace of mind in knowing the ATMs are monitored is just one of the advantages to these devices.
I have always been curious about functionality in websites and, well, the world in general. I read this article with great interest. It does seem to me that the reason we comment is to speak our minds so why not have the comment field first? However, as others have pointed out, one gets used to the conventions regardless of reason.
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