BRT issues national cyber security strategy
The Business Roundtable (BRT), a forum of chief executives of several leading U.S. companies, issued Mission Critical: A Public-Private Strategy for Effective Cybersecurity, a report calling for creation of a modern, flexible, collaborative approach to protecting national secrets and strategic information.
"Safeguarding America's strategic information systems, most of which are privately owned and operated, is 'mission critical' for U.S. business and government," MasterCard Worldwide President and Chief Executive Officer Ajay Banga said. "We need government to do its part by providing the tools only government can provide - including strategic threat assessments, technical assistance and much more robust public-private information sharing partnerships - to help businesses effectively counter growing threats."
The report's recommendations, which can be found at http://businessroundtable.org/studies-and-reports/mission-critical/, include:
"Mobile technology is changing the way people across the globe access information, and we're starting to experience the full capabilities of the digital revolution," said Dr. Paul E. Jacobs, Chairman and CEO of Qualcomm Inc. "However, the promise and potential of technology may be limited by growing cyber threats. America runs on information, so we must address the need for cyber security in order to realize the full potential of this revolution."
BRT's executive leaders represent U.S. companies with combined annual revenues of more than $6 trillion and over 14 million employees. Member companies comprise nearly one-third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development.
- Nizar Assanie, Vice President Research, IE Market Research Corp.
Leveraging private-label in retail
A Mercator Advisory Group Inc. report, Private Label 2011: Innovative Reward Strategies & Retail Lending, reveals how retailers are revamping private-label programs to leverage sales and using rewards as a point of differentiation. Report highlights include private-label credit market trends during the past decade, a discussion of key features and best practices, and the potential impacts of these programs on future retail lending.
Durbin impact varies by state
From Oct. 1 to 16, 2011, Heartland Payment Systems Inc. collected state-specific data on the impact of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Data from HPS' portfolio of 250,000 merchant locations found that for every $100,000 in Visa Inc. and MasterCard Worldwide signature debit and credit card volume processed, average savings per merchant nationwide was $260.24. Washington, D.C., merchants ranked highest, saving an average $333.94, and Montana merchants were lowest at $127.87.
Asia-Pacific to fuel card growth
Asia-Pacific is expected to move from the third to second largest card payment market in volume worldwide in the years ahead, according to the Research and Markets' report titled Assessing the Payment Landscape in Asia Pacific. It identifies growth sectors and factors driving change in global card payments, and projects debit will fuel the largest growth in cards circulated and payment volume.
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