Compiled by Mitch Cobrin, COO of HomeATM ePayment Solutions
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US BANKS FAILING TO PROTECT ONLINE CUSTOMER INTERACTION - JAVELIN
Nearly half of large US banks are leaving themselves unprotected against hijacking of online customer interaction, according to Javelin Strategy & Research. More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=20847
Retailers to receive $1 billion from Visa/MasterCard lawsuit this week
December 7, 2009 More than half a million retailers should begin receiving checks totaling over $1 billion this week as the result of a federal judge’s approval of an early payout of funds remaining from the 2003 settlement of a lawsuit brought by NRF and others against Visa and MasterCard’s debit card practices. The funds will give many retailers struggling to make a profit during the current recession a welcome influx of cash at a time when slow sales and the ongoing credit crunch have left some short of operating cash needed to fully stock shelves and staff stores during the important holiday season. The class-action lawsuit, brought by NRF and about 20 of the nation’s largest retailers in 1996, was settled in 2003 for $3.1 billion.
'Keystroke logging' targets credit card customers
CompareAndSave.comAdvanced computer hacking techniques used for credit card fraud have been exposed by a new report. Tech website Pocket-lint.co.uk said that sophisticated
OBOPAY AND FIRETHORN FACE CHOP AS CITI STREAMLINES MOBILE STRATEGY
Citi has ended its three year mobile money test with Obopay and appears set to dump its relationship with m-banking supplier Firethorn as part of a global enterprise-wide evaluation of its wireless strategy. more on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=20840
Pivotal Payments Selected
Pivotal,an ISO with over 280 employees, more than $7 billion in annual volume, and 600 agents, was selected as a finalist for Canada's 50 Best Managed Companies award; winners will be chosen March 9
Three years to catch up on payment security standards
The Sheet Speakers at last week's Payment Card Industry Data Security Standard Compliance Conference in Sydney described the online payments market as “the wild west
VeriFone Debuts iPhone Secure Payments Solution
PAYware Mobile, a payment solution for the iPhone, provides small businesses with simple and secure card processing capabilities on the popular smartphone platform. Read more and let us know what YOU think!
Fed Reports 9.3% Decline in Revolving Consumer Credit in October
The Federal Reserve's G.19 Consumer Credit report issued this afternoon reports that consumer credit decreased at an annual rate of 1.7 percent in October. Revolving credit decreased at an annual rate of 9.3 percent while nonrevolving credit increased at an annual rate of 2.6 percent.
Belgian Online Payments Business Clear2Pay Gets $75 Million VC Funding
paidContent.org Online payments business Clear2Pay has bagged a big €50 million ($75.4 million) round of funding led by New York-based PE outfit Aquiline Capital Partners
SEPA: What's Next in Payments for Europe?
How has the European payments industry weathered the financial crisis and the move towards a single European payment area? Paying with Plastic author David S. Evans, Vitor Bento (CEO, SIBS) and Oliver Bretz (partner, Clifford Chance) discuss the state of the payments industry in Europe. Watch the interview
BMO and MasterCard Beta BlackBerrys at the POS
A network of about 8,500 Canadian merchants that accept MasterCard's contactless payments will also accept contactless BlackBerry payments as Bank of Montreal, MasterCard and Research in Motion launch a new mobile pilot.
CEO of UATP talks about payment network for airlines
eTurboNews UATP is the low-cost payment network privately owned by the world's airlines. UATP is the preferred form of payment for corporate travel in large
PayPal Admits to Phishing It's Own Users
PC Magazine The response he got from PayPal stated (in part—see the ESET blog for the full response):Thanks for forwarding that suspicious-looking email. ...
Mobile banking can play vital role in financial inclusion: RBI Deputy Governor
Microfinance Focus We all agree that the benefits of M-Commerce should reach the common man at the remotest locations in the country, said Dr. kcchakrabarty, Deputy Governor,
Thiel facing big loss
New York Post Peter Thiel, the PayPal co-founder who struck gold when he invested $500000 in Facebook five years ago, is facing a second consecutive year of losses at his ...
Card Companies Asked About Aggressive Sales Tactics by Online Companies
Senator John D. (Jay) Rockefeller IV, Chairman of the U.S. Senate Committee on Commerce, Science, and Transportation, has sent letters to Visa, American Express, and MasterCard asking them what they know about the aggressive online sales tactics many online companies use to charge consumers’ credit cards for unwanted club memberships. An earlier Committee staff report found that "millions of online consumers have been enrolled in these membership clubs and their credit card or debit cards have been charged even though they never provided the companies with their sixteen digit credit card or debit card numbers." More info here.
How the Square mobile payment service will work
CNN International By Eliot Van Buskirk (Wired) -- Twitter creator Jack Dorsey's Square application, which is like a smartphone PayPal for credit cards, has attracted lots of
Startup lessons from Bill Me Later's success
Baltimore Sun... one of the four co-founders of Bill Me Later -- a Baltimore area online payments company that was snapped up by eBay/Paypal for $945 million last year.