Monetha DTRS Mirrors Paypal and Trustpilot Running on Ethereum Blockchain

A combination of PayPal and Trustpilot, run on the Ethereum blockchain will commence on the August 22nd. Ethereum blockchain based mobile payment processing company Monetha, is powered by smart contracts with a decentralized trust and reputation system. Monetha’s decentralized trust and reputation system (DTRS) uses smart contracts integrating flawlessly with the payment processor. It is…

WooCommerce Expands Local Payment Methods in Local Currencies Globally

Payment methods like SEPA, iDEAL, eps, Sofort, giropay, BoletoBancarió, UnionPay and many more are now just a few clicks away. Alternate Payments, a specialist in local payment methods, has launched a plugin for WooCommerce. The company just improved this globally popular e-business platform by developing a plugin which will enable millions of eCommerce merchants, and…


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Revel IT

Revel Systems announced the official opening of its IT division in Vilnius, Lithuania. Revel Systems iPad POS was founded in 2010 in San Francisco with the goal of changing the Point of Sale market.


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Danske Bank Launches mBanking Transfer Service

Smart phones users no longer need to know the beneficiary’s bank account to make a money transfer, just the recipients mobile telephone number. This allows bank transfers will be completed at the speed of an SMS and free of charge by entering the required amount and the beneficiary’s telephone number in a smartphone application. This service is particularly convenient for a circle of close acquaintances when it comes to paying for items purchase jointly, sharing the bill for dinner, or quickly transferring money to children. Mobile payment can be used not only for transfers of money, but also for money orders by specifying the required amount and pressing the confirmation button. Security and reliability of payments is ensured by additionally signing the transaction with a PIN code and allowing the user to set transaction limits himself.

Ðiauliø bankas Expands ATM network

Ðiauliø bankas has joined the joint ATM network of Ûkio bankas, “Citadele” bankas, Nordea and Danske banks. With this, forty ATMs of Ðiauliø bankas will be connected to the joint network of automated teller machines. It is the fourth ATM network in Lithuania by size which soon will cover 270 ATMs in forty seven towns of the country. The network is managed and administrated by the provider of electronic commerce and payment solutions “First Data Lietuva”. The cooperation of banks in this project enables not only improving the accessibility and quality of cash withdrawal by optimal location of ATMs but also assists in rational management of network development costs.

ID CARDS

Gemalto is delivering 900,000 of its “Sealys Laser-Secured e-ID” cards to the Ministry of Interior. The “Gemalto e-ID” card is made of polycarbonate. The national ID card is mandatory for all citizens above 16 and also serves as a travel document in all EU countries. The card features contactless technology for identity verification at border crossings, based on fingerprint check. It also embeds a contact microprocessor which contains a certificate for on-line identification and a qualified certificate for electronically signing official documents such as contracts and declarations. Gemalto’s references in national e-ID programs include notably Bahrain, Belgium, Finland, Oman, Portugal, Qatar, Saudi Arabia, Sweden and UAE. Taiwan has also recently deployed Gemalto’s digital security technology for its smart
card-based resident card.

NEUROTECHNOLOGIJA ID SOLUTION

For its VeriFinger and MegaMatcher fingerprint identification,
Neurotechnologija biometric identification technologies has introduced
the “Smartcard Finger-Match.” The security add-on utilizes smartcard
technology for biometric fingerprint verification that is stored on the
card,
providing increased security over smart cards or fingerprint identification
alone and is fully integratable with existing card infrastructures.
Neurotechnologija’s VeriFinger and MegaMatcher fingerprint templates,
when used with the solution, provides accuracy and reliability for security
applications in various industries using fingerprint matching templates.
Matching is determined using the cards embedded microprocessor and
biometric information without transfer to an external computer, enhancing
security. This two-factor authentication verifies the validity of the
smartcard
and the identity of the person, allowing the original template to remain on
the smartcard to ensure privacy. Neurotechnologija solutions are integrated
with over 1000 system integrators and fingerprint sensor providers with
more than 30 products and version upgrades.

BS/2 Expands its ATM Security Solution

BS/2, a division of the Penki Kontinentai Group has
announced the availability of their ATM security service in Western
Europe. The security service, “ATMeye”, monitors ATM activity triggered
only when the machine is approached, resulting in less ‘dead’ time on
recordings. This system also helps banks address complaints regarding
ATM failure. BS/2 has developed products to suit self-service networks
and ATM’s and services more than 10,000 installations at banks in 54
countries.

MKS Orders 5,000 Hypercom ICE Terminals

Mokejimo Korteliu Sistemos has ordered nearly 5,000 “ICE 5500Plus” and “S9” card payment devices. Hypercom says this new contract marks the largest one-time order ever for Hypercom Russia whose territory includes the Baltic States. After acquiring the point-of-sale network of Vilniaus Bank, MKS selected Hypercom for its EMV-certified stable technology, “TermMaster Suite” and terminal choices. Set up in 1995, MKS provides banks with the services of processing and transfer of data of operations with international and local payment cards, also, with services of certification of the issue of payment cards with international payment card organizations, ensures access to VISA and MasterCard payment cards networks.

Hansabank will use Thales e-Security’s P3 for EMV Smart Cards

TietoEnator, a leading IT services provider in the Nordic countries, has chosen Thales e-Security’s “P3” smart card personalisation and preparation process for Estonia based Hansabank. EMV migration in the Baltics is moving fast with the first EMV smart cards issued in December 2002. To-date Baltic banks have issued more than 200,000 smart cards. Hansabank issued its first VISA smart cards in August. The “P3” system is designed to provide card issuers with a ready-made way of migrating from magnetic stripe cards to smart cards. Aimed primarily at the payments card industry, it offers the ability to generate data for credit/debit and electronic purse payment cards. Using P3 reduces or eliminates the need to make changes to the issuer’s host system thereby reducing implementation costs and timescales. Thales’ “P3” sits at the core of TietoEnator’s EMV solution and helps simplify the smart card migration process by providing all the cryptographic data required. The key benefits of Thales’ “P3” are a secure data preparation process, 100% in-house control over cryptographic keys and limited impact on the banks’ host systems. P3 is developed in conjunction with MasterCard and Visa and has been sold to smart card issuers in more than 30 countries around the world.

FINGERCELL EDK

Vilnius-based Neurotechnologija has released a complete biometric fingerprint solution for embedded devices that can match 500 fingerprints per second, one of the fastest EDK systems on the market.
FingerCell EDK can be used for both verification (1:1 matching) and identification (1:N). FingerCell’s algorithms are custom set for the EDK’s hardware, enabling enrollment times of less than one second; the software also provides a False Rejection Rate (FRR) of 3% and False Acceptance Rate (FAR) of 0.001%. FingerCell code is extremely compact, requiring only 512 KB of memory. The software is compatible with both the AuthenTec FingerLoc AF-S2 and AuthenTec EntrePad AES4000 sensors, or can be read from fingerprints from TIF and BMP format image files.

VB INTERNET@s

SEB’s wholly owned Lithuanian bank, Vilniuas Bankas, started its e-bank, VB Internet@s, in September 2000, with the aim of having 3,000 customers by year-end 2000. The bank acquired 11,262 customers and, since the beginning of this year, the number of e-bank customers has tripled to a total of 30,000 in July 2001. The goal for full-year 2001 was to have 30,000 customers, a figure that has now been achieved in half the time.

This means that 10 percent of Vilniuas Bankas’ total number of customers are e-bank customers. Approximately 80 percent are private customers and 20 percent consists of small and medium-size companies that conduct their banking via the Net.

Today, Lithuanian customers use Vilniuas Bankas e-bank primarily to pay bills, check their accounts and to transfer money between accounts. During this year, Vilniuas Bankas also anticipates being able to offer its customers the possibility of applying for consumer loans, mortgage loans, share-trading and management of all their home-related bills via the Net.

SEB owns three Baltic banks; Eesti Ühispank with 390,000 customers, 70,000 e-bank customers and 64 branches in Estonia, Latvijas Unibanka with 318,600 customers, 27,000 e-bank customers and 70 branches in Latvia, and Vilniuas Bankas with 280,000 customers, 30,000 e-bank customers and 57 branches in Lithuania. SEB owns 32 percent of the shares in the Polish bank Bank Ochrony Srodowiska, BOS. SEB is a European financial group, primarily for companies and financially active private individuals. SEB has 630 branches in Sweden, Germany and the Baltic States, with a total of 4 million customers. Of these, 900,000 are Internet customers. SEB also has operations in the other Nordic countries, the UK, Luxembourg and Switzerland. The Group’s total assets are SEK 1,123 billion and managed capital amounts to SEK 910 billion. The number of employees totals 21,500.