Archive for February, 2014

26.02.2014 Uncategorized No Comments

MasterCard to Enhance Credit Card Transactions with Smartphones.

February 25, 2014 | Dara Kerr | CNET
Using geolocation data, the credit card company proposes a plan that will only allow card transactions when a users’ smartphone is within close proximity.

MasterCard and Syniverse partner on new plan to boost credit card security with smartphones. With hacks, stolen credit card data, and identify fraud constantly on the rise, some credit card companies are looking into how to better beef up security.

20140226-191112.jpg
MasterCard announced Tuesday that it has partnered with mobile technology company Syniverse to make it more difficult for unauthorized users to buy goods with nabbed credit cards. While working to heighten credit card security is nothing new, MasterCard’s most recent plan is a bit different because it involves users’ smartphone geolocation while they’re traveling abroad.

The idea is that a users’ credit card cannot be used unless it is within close range of their cell phone. For instance, if someone is traveling in Mexico, but their card is supposedly swiped in Canada, the transaction will be declined.

Lots of times credit cards are declined when people use them in foreign countries without notifying their banks they are traveling. MasterCard’s smartphone geolocation feature would also avoid this issue.

Along with the amped up security, MasterCard will also offer travelers prepaid data packages in order to ensure their smartphone’s GPS is turned on without incurring expensive roaming fees.

“This collaboration of two global technology leaders opens up a whole new range of possibilities for end users, ensuring a seamless payment and mobile experience,” MasterCard president of Global Strategic Alliances Hany Fam said in a statement. “By leveraging the speed and intelligence of our global network and combining it with geolocation solutions, we are enabling your MasterCard to uniquely work where you and your phone are, anywhere in the world.”

It seems MasterCard and Syniverse’s new plan is a half step toward digital wallets, which have been on the rise the past couple of years. It appears many major credit card companies are on the path to one day offer users a way to pay for items with only a smartphone.

In October, MasterCard, Visa, and American Express announced a partnership to create a new digital payment technology that would increase the security of payments via Web sites and mobile products by using a digital “token.” MasterCard has also worked on projects like the MasterPass system, which addresses all forms of digital transactions.

Currently, MasterCard and Syniverse’s smartphone security plan is still in a pilot-phase; when it does roll out, it will be an opt-in service.

13.02.2014 Uncategorized No Comments

Digital Health Funding 2010-2014

The post Infographic: 2010-2014 Digital Health Funding Insights appeared first on HIT Consultant Media.

20140213-215823.jpg

03.02.2014 Uncategorized No Comments

Castlight Health Secretly Files for $2B IPO.

Castlight Health, a San Francisco-based online benefits software company, secretly filed for a $2 billion-plus initial public offering, according to an exclusive report by Fortune over the weekend.

The Fortune report, published Feb. 1, said Castlight will seek a valuation “upwards of $2 billion,” in an offering expected to be led by Goldman Sachs with participation by Morgan Stanley.

The company was started in 2008 by former Athenahealth executive Todd Park who later led the effort to build the oft-criticized Healthcare.gov web site for the Obama Administration as chief technology officer for the U.S. Department of Health and Human Services.

But Castlight didn’t begin offering its services online until 2011. Its software helps employees access health care quality and price information, and it helps both workers and employers cut health care costs, according to the company.

Giovanni Colella, another co-founder, is the current chief executive of Castlight, which has raised $160 million in two rounds of funding so far.

In a Jan. 18, 2013 article, the San Francisco Business Times identified Castlight as one of two Bay Area health care IT companies likely to file for a big IPO. The other was San Francisco’s Practice Fusion.

So far, Castlight hasn’t confirmed the Fortune account, which the business publication said was based on confidential SEC filings.