Intuit has added a geolocation feature to its GoPayment mobile card reader to help mobile merchants calculate the correct sales tax to be collected (and paid) based on where a payment is being accepted. <<…>>

As we observe this holiday, we would like to take the opportunity to reflect on the true meaning of Memorial Day by honoring all the valiant men and women who have defended their country.

Our way of life and the freedoms we enjoy here in America are a result of their sacrifices.

Enjoy today and remember the sacrifices made by others on this Memorial Day. God bless America.

It’s no longer unheard of for leaders to use language that would strip paint in a bid to demonstrate their passion and commitment. Former Yahoo and Autodesk chief Carol Bartz was notoriously profane in her internal communications, and a younger generation of CEOs is using similarly salty language in daily interactions with workers. "Companies increasingly prefer authentic leaders," Jeffrey Cohn says. "Using colorful language can play to your advantage — as long as you also demonstrate empathy and good business judgment."

Read more in today’s The Wall Street Journal: http://online.wsj.com/article/SB10001424052702304840904577422683764866606.html

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Citibank NA has ended its 13-year credit card program with Jet Airways (India) Ltd, India’s largest airline by passengers carried. Instead, it has announced it launched its own “airline agnostic” card to tap the growing number of air travelers across the country. “The decision was based on market estimates that said fragmentation in the airline industry kept customers from flying with a single airline,” said Anand Selvakesari, country business manager, global consumer group, Citibank India.

The importance of key vendor relationships requires that retailers and banks monitor their vendor’s business activities and environment as closely as their own, says consultant Brad Keller. "Vendor risk management practices have not kept pace with changes in the vendor-risk environment and do not effectively account for changes in how our vendors operate."

Brad writes, “According to Ernst & Young’s recently released study on supplier risk management , 73% of the companies surveyed rely on individuals in their business units to identify that a vendor has subcontracted some or all of the services they provide. Acquiring information on subcontracting is not part of their vendor-assessment process. In addition, over one-third of the companies that are notified that services have been subcontracted take no action to assess either the subcontractor or the subcontracting process.”

Read more: http://www.bai.org/bankingstrategies/risk-management-and-fraud/risk-management/keeping-track-of-your-vendors <<…>>

Robert Arthur Moog, known as Bob Moog among friends, was an American best known as the inventor of the Moog synthesizer. A Google doodle today honors the legacy of Bob Moog, considered by most as the grandfather of electronic music.

I remember his instruments best under the fingers of legendary rock keyboard player Keith Emerson, of the band “Emerson, Lake and Palmer.”

The Bob Moog Foundation’s resident synth expert, Marc Doty, has created a “how-to” video to help those of us not familiar with all the capabilities of a synthesizer get full use of the “Goog”. Check out Marc Doty’s How-To Video () and get started making your own composition! Read more: http://www.moogfoundation.org/

Born: May 23, 1934, New York City

Died: August 21, 2005, Asheville

Education: Queens College, City University of New York (1957)

Apple Is getting ready to release their new pre-paid iPhone based on the 3GS model operating as a private-label MVNO. Opening up prepaid will create a massive new market opportunity for Apple in a market that is underserved by smart-phone manufacturers.

Apple has already signed an agreement with a major global distributor and retailers who will drive ways to penetrate the new pre-paid iPhone into domestic and developing markets. The new prepaid iPhone will be priced (at the wholesale level) in the $200 to $250 range, down considerably from the current average wholesale of $375.

PCI SECURITY STANDARDS COUNCIL PROVIDES GUIDANCE TO MERCHANTS ON MOBILE PAYMENT ACCEPTANCE SECURITY

- Customized fact sheet offers tips for leveraging PCI Standards to accept mobile payments securely –

WAKEFIELD, Mass., May 16, 2012—The PCI Security Standards Council (PCI SSC), a global, open industry standards body providing management of the Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS), today published a customized fact sheet outlining how merchants can securely accept payments using mobile devices such as smartphones or tablets.

The At a Glance: Mobile Payment Acceptance Security fact sheet provides merchants with actionable recommendations on partnering with a Point-to-Point Encryption (P2PE) solution provider to securely accept payments and meet their PCI DSS compliance obligations.

The ability to use smartphones and tablets as point-of-sale terminals to accept payments in place of traditional hardware terminals offers great flexibility. As mobile technology continues to change at a rapid pace, the Council continues to work with the industry to ensure data security remains at the forefront of mobile evolution.

This latest educational resource is the product of the Council’s Mobile Working Group and is the result of valuable input from leading merchants, vendors and organizations actively involved in the mobile payment acceptance industry. The document helps clarify and distill some of the more complex technology and security terminology into straightforward, practical guidance that can help merchants to:

· Better understand their responsibilities under PCI DSS, and how they translate to mobile payment acceptance

· Leverage the benefits of the Council’s recently published Point-to-Point Encryption (P2PE) standard and program

· Choose a mobile payment acceptance solution that complements the merchant’s PCI DSS responsibilities, for example a P2PE solution provider

The fact sheet also draws on recent updates made to the PIN Transaction Security (PTS) Requirements at the end of 2011, creating the foundation for data security in mobile payment acceptance.

Using this resource to guide them in how PTS and P2PE standards work together, merchants can better understand how to securely use external plug-in devices with smartphones or tablets to accept payment cards by first encrypting and securing the data at the point that the account data is captured. The smartphone or tablet has no ability to decrypt the data, thus simplifying PCI DSS scope for the merchant.

“We know merchants are eager to take advantage of their existing smartphones or tablets to accept payment cards,” said Bob Russo, general manager, PCI Security Standards Council. “And the Council and its stakeholders want to help the market to do this in a secure way. We’re excited about this easy-to-use reference that will help merchants understand how to use the suite of PCI Standards to enable their businesses while still keeping data security top of mind.”

As with all SSC fact sheets, this guidance does not replace or supersede any of the PCI Standards. The Council continues to work with the payments community to address mobile payment acceptance security and evaluate whether additional requirements are needed in this area. As part of this ongoing initiative, the Council plans to publish best practices for securing mobile transactions later this year.

“The PTS and P2PE standards are being leveraged by mobile solution providers today. With this fact sheet we hope to help merchants understand how these standards work and the options that are available to them for accepting mobile payments in a secure

and PCI DSS compliant manner,” said Troy Leach, chief technology officer, PCI Security Standards Council.

PCI Standards and mobile payment acceptance security will be a topic of discussion at the Council’s Annual Community Meetings scheduled for September 12-14 in Orlando, Florida and October 22-24 in Dublin, Ireland. For more information, please visit: https://www.pcisecuritystandards.org/communitymeeting/2012/.

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About the PCI Security Standards Council

The PCI Security Standards Council is an open global forum that is responsible for the development, management, education, and awareness of the PCI Data Security Standard (PCI DSS) and other standards that increase payment data security. Founded in 2006 by the major payment card brands American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc., the Council has over 600 Participating Organizations representing merchants, banks, processors and vendors worldwide. To learn more about playing a part in securing payment card data globally, please visit: http://pcisecuritystandards.org

Connect with the PCI Council on LinkedIn: http://www.linkedin.com/company/pci-security-standards-council

Join the conversation on Twitter: http://twitter.com/#!/PCISSC

7-Eleven Inc. intends to add 630 new branded convenience stores to its U.S. and Canada roster before yearend 2012. Most of these new locations were acquired or transitioned from another brand. So far in 2102, 7-Eleven acquired 55 locations from Sam’s Mart in the Carolinas and 51 from ExxonMobil in North Texas.

Jacksonville, Fla., and Charlotte, N.C. are two new markets being re-opened where 7-Eleven previously had operated stores until the 1980s. The company previously announced plans to grow its 20-store presence in Manhattan to 135 units by 2017.

Based in Dallas, 7-Eleven operates, franchises or licenses more than 9,200 7-Eleven stores in North America. Globally, there are approximately 46,400 7-Eleven stores in 16 countries. During 2011, 7-Eleven stores worldwide generated total sales close to $76.6 billion. <<…>>

ExxonMobil will soon announce their new cross-promotion vendor for its upcoming loyalty program, “return and earn,” according to CSP Daily News. Marketers and Jobbers attending a recent brand meeting with the refiner in Texas said company executives declined to name the supplier, saying that an announcement would come “soon.” <<…>>