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 Register Online
for the 2008 Forum Strategic Leadership and Networking Forum online registration is now open. It's quick and easy to register. Just click here to get started.
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Transaction Trends Online |
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In the September Issue of Transaction Trends: 
- Profiting From Brand Convergence
- Critical Exec-Level Compliance Issues
- Who'sYour Security Guard?
- And much more...
Visit the Transaction Trends Web Site
Advertise in Transaction Trends Need to reach the most powerful audience in the acquiring industry? Download our media kit and get started right away!
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 Strategic Leadership &
Networking Forum
October 21-22
The Fairmont, Chicago
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 Compliance Day
November 5-6, 2008
Dallas, TX
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Featured Stories
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CyberSource-Authorize.Net Deal Final |
CyberSource Corporation, , a leading provider of electronic payment and risk management solutions, today announced that it has completed the acquisition of Authorize.Net Holdings, Inc. of Marlborough, Massachusetts. CyberSource first announced an agreement to acquire Authorize.Net Holdings on June 18, 2007. Requisite stockholder approvals have been obtained and all regulatory requirements have been met.
The acquisition was a stock and cash transaction valued at
approximately $662 million, based on the closing price of CyberSource
common stock on October 31, 2007. Under the terms of the merger
agreement, Authorize.Net stockholders will receive 1.1611 shares of
CyberSource common stock for every share of Authorize.Net common stock.
Additionally, Authorize.Net stockholders will receive a pro-rata share
of $125 million, or approximately $4.42 per share, in the form of a
cash payment.
As a result of the acquisition, CyberSource now has approximately
217,000 customers, ranging in size from home-based businesses to some
of the largest enterprises in the world. (PR Newswire)
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TJX Breach Details Revealed |
Attorneys suing retailer TJX have added to their original
complaint, relying on newly discovered details regarding the company’s widely
reported security breach.
In a news story in E-Week, it was revealed that TJX failed to
comply with nine of 12 applicable PCI requirements and that the data thief
managed to walk away with 80 gigabytes of data on TJX customers.
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Read more...
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Processing powerhouse TSYS will become an independent public company under a plan unveiled by SYNOVUS, which currently owns about 80 perxcent of outstanding TSYS shares. Under the plan, holders of SYNOVUS shares will each receive a proportionate share of the TSYS stock held by SYNOVUS.
Officials of both companies say the change in status will not lead to siugnificant changes in the identity or operations of TSYS, which will remain headquartered in Columbus, GA.
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Visa to Push on Compliant Applications |
Beginning January 1, 2008, Visa will implement a series of mandates to eliminate the use of non-secure payment applications from the Visa payment system. These mandates require acquirers to ensure their merchants and agents do not use payment applications known to retain prohibited data elements and require the use of payment applications that adhere to Visa’s Payment Application Best Practices (“PABP”). PABP-compliant applications help merchants and agents mitigate compromises, prevent storage of prohibited data and support overall compliance with the Payment Card Industry Data Security Standard (“PCI DSS”) and the Visa U.S.A. Inc. Operating Regulations. A list of PABP-validated applications is available at www.visa.com/pabp.
Vulnerable payment applications have proved to be the leading cause of compromise incidents, particularly among small merchants. Visa U.S.A. Inc. Operating Regulations prohibit the storage of the full content of any magnetic-stripe, CVV2 or PIN data and require compliance with the PCI DSS. Merchants and agents that use payment applications that store prohibited data or have inherent security weaknesses will not be compliant with the PCI DSS and are at high risk of being compromised.
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