Secure Transactions News
Some news from the Secure Transactions Industry are here. A lot more are in Smart Insights Weekly.
Iris Corporation has won an US$ 84 million (EUR 74 million) contract from the Senegal government to produce and supply 10 million new multi-application biometric identity cards based on contactless chip technology and 10 fingerprint biometry over the next five years. Senegal has an estimated population of 13 million.
Docapost, a subsidiary of the French La Poste Group, announced the acquisition of Applicam, a specialist in electronic payment facilities, previously owned by Blackfin Capital Partners.
This operation allows Applicam to speed up its development by relying on a recognized partner. It gives Docapost the possibility to strengthen its presence on the market of e-administration and in the field of electronic banking. Especially, on the international level where Applicam holds a strong position.
Entrust Datacard has closed on the acquisition of Trend Micro SSL business assets. The closing was finalized on April 29, 2016 and comes after the passing of regulatory approval procedures. (cf. SIW #16-13)
Through this acquisition, Entrust Datacard has now assumed all asset rights from Trend Micro's SSL business, including high-assurance certificates, roots and its SSL customers. In addition, industry experts will be joining Entrust Datacard from this acquisition – including Chris Bailey and Kirk Hall, among others – bringing decades of combined SSL experience and leadership to Entrust Datacard.
UnionPay is on a path to global expansion, both on acceptance and issuance sides.
By the end of Q1/2016, the transaction volume of overseas-issued UnionPay cards accounted for about half of UnionPay's total international business; this figure by the end of 2013 was only 27%. The transaction number of overseas-issued UnionPay cards in the Chinese mainland increased by over 30% year on year. UnionPay is now one of the world’s largest bankcard schemes, with over 5.4 billion cards issued.
US retailer-led consortium MCX has postponed the nationwide rollout of its CurrentC mobile wallet and has laid off approximately 30 of its employees. The decision was taken in order to “concentrate more heavily” on other aspects of the business, including working alongside JPMorgan Chase to roll out the Chase Pay mobile payments service.
MCX dropped the news on the same day one of its premier partners in Walmart began the rollout of a similar product called Walmart Pay that relies on QR codes much in the same way as CurrentC. MCX’s leading supporter, Walmart, announced that its own payment service for mobile devices is now available in 500 stores across two US states, following its debut late last year.
Europe has taken another step towards abolishing roaming costs for consumers by introducing more price caps on calls, SMS and data usage (cf. Smart Insights Weekly #15-28).
On 30th April, roaming rates for operators in Europe have been capped to a greater extent. Calls and data are now limited to EUR 0.05 per minute/Mb, while SMS will be capped at EUR 0.02 per message. The European Commission has called this a short transition period since June 2017 will see Europeans pay the same price for mobile use across the continent as they do in their home market.
In April 2015, Walmart SVP and Assistant Treasurer Mike Cook said that the EMV rules, as they were being implemented in the US, were a “joke” (cf. Smart Insights Weekly #15-40). Cook’s view was that giving signature and PIN equal weight in authenticating the consumer at the point of sale put the customer’s security at risk. Now, Walmart filed a lawsuit in New York alleging that Visa prohibits Walmart from insisting that its customers use a PIN when paying with a chip-enabled debit card at checkout.
The SIMalliance membership, which represents approximately 88% of the global SIM market, has reported 2015 SIMalliance shipment volumes equaling 4.7 billion, reflecting a 0.3% increase on 2014 shipments. The estimated total available market in 2015 was 5.3 billion, compared to 5.2 billion in 2014, marking a 2% increase in total SIM shipments worldwide. Significant advances were reported by SIMalliance members in key markets and regions, notably, the Americas (+6%), Europe (+1%), India (+25%), Japan / Korea (+12.5%) and the Middle East & Africa (MEA) (+14%).
ETSI signs a Memorandum of Understanding (MoU) with Eurosmart. This cooperation agreement will enrich the ecosystem of security-related issues in ETSI and help to ensure the security robustness of next generation (5G) telecommunications networks.
Sharing a common view on the importance of the role of ETSI in the European Commission’s ICT standardization rolling plan and the European Union’s Digital Single Market, both organizations will develop collaborative activities in various ways.
Giesecke & Devrient (G&D) reports 2015 financial results and surpasses the two-billion euro sales mark for the first time in the company’s history. Overall, G&D achieved strong growth of 9.7% last year reaching EUR 2.01 billion in sales. All three business units – Banknote, Mobile Security, and Government Solutions – contributed to this growth. Not including the 2014 provision for restructuring costs, the EBIT operating result increased by around EUR 40 million to almost EUR 102 million. G&D has overcome the decline in earnings it experienced in previous years.