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Visa Security - New Dates for Chip and PIN Rollout in Australia
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Visa announces dates for chip and PIN rollout for
Australia
Signatures will be phased out as part of a seven-point strategy to crackdown
on card fraud
Sydney, 2 November 2009 – Visa today announced it will move to chip and PIN technology for all
Australian Visa cards over the next four years, with signatures no longer accepted at the checkout
from 2013, as part of a wide-ranging agenda to cut card fraud.
Visa’s General Manager for Australia and New Zealand, Chris Clark, said Visa was working with
financial institutions and retailers to upgrade more than 14 million Visa cards in Australia1, half a
million merchant point of sale terminals and thousands of ATMs to chip and PIN technology.
“From January 2010, all new Visa credit cards issued in Australia will feature secure embedded
smart chips to give Australians a higher level of confidence in the security of their transactions,” Mr
Clark said. “This will be followed by the upgrade of Visa debit and reloadable prepaid cards from
January 2011,” he added.
“Chip technology will also offer banks and merchants the ability to provide their customers with
benefits such as faster transactions, innovations such as contactless payments and the opportunity
to store information such as reward programs on their cards.”
Mr Clark said the move to chip and PIN was part of a comprehensive seven-point security agenda
that also includes initiatives to enhance the security of online transactions. Cardholders will be
enabled to use a Verified by Visa password when shopping over the internet. Online retailers will
be required to capture the three-digit cardholder verification number when processing transactions,
while small and medium sized businesses will be required to enhance their levels of data security.
“These initiatives are part of a comprehensive security upgrade aimed at providing cardholders
with a higher level of confidence and significantly reducing all types of card fraud including
counterfeit, skimming and online fraud,” Mr Clark said.
“While card fraud in Australia remains low by world standards, overseas criminals are becoming
increasingly active in seeking out new arenas. The time is right to take advantage of the new
technologies available to work across the industry, with banks and merchants, to strengthen
security across the board,” Mr Clark said.
Visa announced its security strategy in December 2008 and has been consulting with financial
institutions and merchants to agree on the following actions and timelines:
· Moving to 100 percent chip card issuance. By 1 January 2010, banks and other financial
institutions must issue all new Visa credit cards on chip; by 1 January 2011 all new Visa debit
and reloadable prepaid cards must be on chip; and by 1 April 2013, 100 percent of all Visa
cards must be on chip.
1 At 31 March 2009 as reported by client financial institutions and may be subject to change
· Ensuring all merchant acceptance terminals must be chip capable and activated by 1 April
2012
· Ensuring all new Automated Teller Machines (ATMs) commissioned must be chip capable by
1 January 2011.
· Introducing a broad rollout of PIN (Personal Identification Number) verification for all domestic
transactions, with signatures no longer accepted from 1 April 20132
· Issuers must enrol all Visa cards for Verified by Visa, a free service for cardholders that
provides a password for secure online shopping, by 1 April 2012
· All merchants who take online, telephone and mail order transactions must check the threedigit
card verification code (known as CVV2) from 1 January 2011
· Small and medium sized (Level 4) merchants will be required to implement higher levels of
data security. Acquiring banks will be required to provide Visa with a program for their
merchants to comply with the Payment Card Industry Data Security Standard (PCI DSS) by
30 April 2010 that includes a strategy for risk profiling, merchant education and compliance
reporting twice per year.
Currently about 37 percent of Visa cards issued in Australia are chip-enabled3. Chip cards used
with PINs have proven to be effective in reducing counterfeit card fraud overseas. The UK
introduced compulsory chip and PIN in 2006, resulting in fraud losses at UK retailers falling by 35
percent between 2005 and 20084. In Malaysia, chip technology was mandated in 2005 and
resulted in domestic counterfeit fraud on Malaysian-issued Visa cards being virtually eliminated
within 12 months5
“The migration from signature to PIN will allow us to take full advantage of the protection provided
by chip card technology,” Mr Clark said.
He added that recent fraud trends have highlighted Card Not Present (CNP) fraud as an area of
concern. “Initiatives such as CVV2 and Verified by Visa will focus on online security and empower
cardholders to play a more active role in protecting their information,” Mr Clark said.
In addition to its multiple layers of security, Visa offers purchase protection across all of its credit,
debit and prepaid cards issued in Australia under its Zero Liability policy. Under this policy, Visa
cardholders are not held liable for unauthorised transactions whether they are conducted online, in
person or over the phone
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ADT Announces New Asia Pacific VP
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ADT Security Appoints Kelvin Lam as Vice President of Retail and Security Products for Asia Pacific
SINGAPORE, Oct. 20 /PRNewswire-Asia-AsiaNet/ --
ADT Security has appointed Kelvin Lam as Vice President of Retail and Security Products for Asia Pacific.
Based in Singapore, Mr Lam will be responsible for leading the regional team to aggressively drive ADT's
Retail Solutions business and expand its market share. He will also spearhead the region's strategic sourcing
initiatives to broaden the range of security products to contribute to market growth and profitability.
Mr Lam brings over 12 years of experience from Avery Dennison's Retail Information Services Group where
he held a number of key regional roles in Marketing, Business Development and General Management. His
most recent appointment at Avery was General Manager of Regional Operations. In this position, he was
accountable for Retail Information Services' Asia Operations outside of China. During his tenure with Avery, he
helped grow its Retail Information Services business in Asia more than 20-fold through geographical
expansion, building and developing its sales organization, mergers and acquisitions, and expanding its
product portfolio. Prior to joining Avery, he held a number of regional sales and marketing positions in the IT
industry, including Channel Sales Director and North Asia Territory Manager with Novell Inc.
Mr Lam reports directly to Robert Zhu, President of ADT Security, Asia Pacific. "Kelvin's extensive
experience in managing a substantial retail business in our region will help accelerate our business growth
and further strengthen our leadership position as the leading security solutions provider in the region," said Mr
Zhu. "We are excited by his dynamism and outstanding leadership qualities which we believe will inspire the
regional team to scale new heights of success."
"This is the beginning of an exhilarating journey in my career," said Mr Lam. "New opportunities and
challenges in today's business environment highlight the importance of spearheading new strategies and
innovations in order to stay ahead in the security industry. Broadening our product offerings to help our
customers address the increasingly complex security issues will be a key focus for us."
A graduate of the University of Aston, Birmingham, UK, Mr Lam holds a Bachelor of Science degree in
Computer Science.
About ADT Security Services
ADT Security Services, a Tyco International company, is the world's largest provider of electronic security
services to more than seven million commercial, industrial, government and residential customers worldwide.
ADT's total security solutions include intrusion, fire protection, closed circuit television, access control, critical
condition monitoring, electronic article surveillance, radio frequency identification (RFID) and integrated
systems. ADT's Web site address is http://www.adt.com/global
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WPCS Completes Acquisition of Australia Based Pride Electronic Security Systems
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5 November 2009
WPCS International Incorporated (Nasdaq: WPCS), a leader in design-build engineering services for
communications infrastructure, has announced that it has completed the acquisition of Pride Electronic
Security Systems located in Queensland, Australia. The purchase price included a payment at closing of AUD
$2 million with a potential of up to an additional AUD $2 million of purchase price based on the achievement of
certain earnings goals over the next two years.
Founded in 1997, Pride Electronic Security Systems is an electrical and
security services provider specializing in the commercial and government
sectors. The company focuses on low voltage security installations, alarm
systems, video surveillance and access controls. The company has established
a stellar reputation for high quality services and maintains a strong
customer base which includes the Queensland Police, Queensland Rail, Sunshine
Coast District Health Service and General Water Australia.
Historically profitable, Pride Electronic Security Systems generated AUD
$7.6 million in revenue and approximately AUD $900,000 in earnings before
interest and taxes (EBIT) for their recent fiscal year ended June 30, 2009.
The company also has a net tangible asset value of approximately AUD $1.2
million. The transaction closed on November 4, 2009 and the company will be
assimilated into the WPCS Australian operations.
Robert Paynter, president of Pride Electronic Security Systems,
commented, "The security market in Australia is expanding at a rapid pace and
it became apparent that it would be beneficial for our growth if we were
acquired by a larger organization that can support our leadership role in
electrical and security services. WPCS is an ideal partner as they are a
successful company that has displayed a commitment to developing the
Australian market for communications infrastructure. We are pleased to become
part of the WPCS team and look forward to a prosperous and productive
future."
Andrew Hidalgo, CEO of WPCS International Incorporated, commented, "The
acquisition of Pride Electronic Security Systems is very important for WPCS
as it not only adds a financially successful company but also a company with
a very talented management team. In addition, the acquisition allows us to
strengthen our service capabilities in the Australian public services market
through the design and deployment of security systems. We are excited to add
such an outstanding company."
About WPCS International Incorporated:
WPCS is a design-build engineering company that focuses on the
implementation requirements of communications infrastructure. The company
provides its engineering capabilities including wireless communication,
specialty construction and electrical power to the public services,
healthcare, energy and corporate enterprise markets worldwide. For more
information, please visit www.wpcs.com
Statements about the company's future expectations, including future
revenue and earnings and all other statements in this press release, other
than historical facts, are "forward looking" statements and are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward looking statements involve risks and uncertainties and
are subject to change at any time. The company's actual results could differ
materially from expected results. In reflecting subsequent events or
circumstances, the company undertakes no obligation to update forward looking
statements.
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Test
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TEst
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Paqworks releases 3G Wireless IP Camera System for Remote Monitoring
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New from Paqworks is a 3G wireless IP Camera system for remote monitoring. With high quality IP Cameras from Mobotix remote monitoring is possible for sites where traditional wireless or wired internet access isn’t available. Typical applications include construction sites, wildlife observation, remote property, road congestion and covert video surveillance. For short term applications the ability to communicate over the 3G network eliminates the reliance upon Ethernet or internet networks.
Systems can be pre-configured and set to individual requirements with plug and play deployment. For sites with difficult access to power, solar power may be integrated. Mobotix cameras have a low power consumption (no more than 3W).
Mobotix IP cameras provide a very high picture resolution. Up to 12 times the clarity of traditional analog CCTV systems. Each camera has a rugged design with IP65 rating and require no additional housing or heating. Models can feature dual lenses with IR sensitive imager producing exceptional low light, black and white images. Cameras come with a standard 1.3 megapixel resolution and have internal image storage and file management systems.
For more information on a complete wireless IP camera system please contact Paqworks Industrial Data Communications. 1 800 72 79 79
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