Wednesday, August 17, 2011
By IB Times Staff Reporter | August 17, 2011 9:52 AM EDT
- Consumers Union warns that T-Mobile's Direct Carrier Billing program could expose consumers to fraud, merchant errors (epaymentnews.2blog4.com)
- T-Mobile payment system leaves users vulnerable, report says (nfcdata.com)
- Ireland moves from cash to cards (epaymentnews.2blog4.com)
- Payfone to power Fortumo's in-app payments SDK direct carrier billing (epaymentnews.2blog4.com)
According to VRL, Singapore’s electronic payments provider, NETS, is to offer the city-state’s youth market prepaid contactless-enabled key fobs and wristbands as alternative form factors to its NETS FlashPay cards.
The key fobs will be the first of the alternative form factors to be launched next month. These will be later followed by contactless wristbands. The proposed price for both the prepaid contactless key fobs and wristbands is S$15 – three times more than a NETS FlashPay card.
At present, the wristbands and key fobs cannot be used on trains and buses in Singapore. However, Rakesh Krishnamuti, vice president for product issuance and usage, consumer services at NETS, said: “It is our plan in future to enable them to be used [on trains and buses]”.
NETS also plans to launch a mobile payments offering that includes prepaid funtionality, thereby allowing consumers to store value and top-up funds.
The mobile payments offering from NETS would take the form of a microSD card, which can be slotted into mobile phones with microSD slots, such as those sold by Samsung and Research in Motion. NETS has yet to release a date for the commercial launch of its mobile payments offering, but it is expected to be commercially available within the next year.
Commenting on its activity in the mobile payments space, Cynthia Liaw, general manager for consumer services at NETS, said: “We will launch a form factor on the phone that is very similar to the use of the NETS FlashPay card. There is minimal need to educate customers on how to use it.”
Liaw said the fact that the NETS FlashPay non-card form factors for the key fobs, wristbands and mobile phones, will be accepted at 14,000 retail outlets across Singapore, is a key advantage.
Krishnamuti added that research has shown that the Singapore market is quite receptive to a novelty form factor and consumers are willing to pay more for payment form factors that are both unique and useful in terms of form and functionality.
SAN DIEGO, Aug. 16, 2011 /PRNewswire/ -- The leading experts in payment processing met at the 22nd annual Direct Response Forum (DRF) at the Sheraton Hotel and Marina in San Diego. Over 420 executives that collectively represent billions of dollars in credit and debit card transactions every year met to discuss the latest issues facing payment professionals.
The DRF featured main stages and dozens of in-depth break out sessions that allowed attendees to focus on their areas of interest including mobile payments, international payment processing, chargebacks, recurring payments, PCI Compliance, fraud prevention, Durbin Bill compliance, and cyber-security.
"The DRF's goal is to develop a community of card not present professionals (CNP) that are committed to helping each other grow and develop into the best payment professionals in the world. We want to be a resource our members can rely on 365 days a year." Chantal Gaspie, Executive Chair, Direct Response Forum.
At this year's forum the membership elected a new merchant board of directors of the DRF composed of the following executives:
L.L. Bean, Inc.
Transamerica Life & Protection
The merchant board is augmented by the Eagle Advisors who are payment industry leaders that have been recognized for their many years of CNP expertise and service supporting the DRF.
Polly Bauer and Associates, Inc.
There is also an Advisor Board that supports the DRF made up of executives from the major payment networks and acquirers.
In addition to the election of new board members, the DRF announced the launching of a Job Board that will allow member companies to announce openings on their payments teams. The DRF Board believes this will be a valuable resource for their members to find the best talent available among CNP professionals.
Top payment professionals from the U.S., Europe, Asia, and Latin America were all in attendance at this year's DRF. For 22 years the Direct Response Forum has been among the leading sources for reliable and actionable knowledge on payment processing.
About Direct Response Forum, Inc.
The Direct Response Forum (www.directresponseforum.org) brings together leading direct merchants, acquirers, card companies and service providers for two days of interactive panels, breakout sessions, and roundtable discussions focused on key topics affecting the customer/card not present (CNP) merchant community. The Direct Response Forum is a not-for-profit educational organization that is managed by a Board of Directors that are executives at leading companies including Affinion Group, Ancestry.com. Comcast Cable, Digital River, Expedia, Inc., L.L. Bean, Inc., Rosetta Stone, ShopNBC, Transamerica Life & Protection, and Western Union.
SOURCE Direct Response Forum, Inc.