CyberSource announced today "the availability of the first payment solution based on web services architecture, including payment-grade transaction security."

CyberSource is the first payment services provider to offer the full spectrum of web services compliant clients. These clients support the SOAP communications protocol, XML document format, and WS Security data signature specifications to provide the level of security required for payment transactions. With CyberSource support of Web Services standards, including transaction security, developers can more quickly implement payment functionality. By accessing the CyberSource Web Services Development Language from a CyberSource or a UDDI resource, developers will be able to enable payment functionality via most major toolkits that support SOAP, such as Microsoft's Visual Studio.net, Apache Project's Axis, and any of the IBM developer kits, such as Emerging Technologies Toolkit.

The plaintiffs' legal counsel in the Visa/MasterCard debit antitrust litigation has posted on its web site additional information and documents on the settlement (including the settlement MOU's signed with Visa USA and MasterCard n April 30, 2003).

John Morgan from Perkins Coie writes about stored value cards and some considerations regarding their use.

Stored-value cards ("SVCs") are prepaid cards that may be used to purchase goods and services. SVCs are rapidly replacing traditional gift certificates due to their versatility and enhanced features such as the ability to reload, incrementally draw down balances, increase point-of-sale integration, and link to loyalty and other incentive programs. However, while SVCs provide convenience to customers, businesses offering SVCs need to be wary of the possible legal implications of using SVCs, including laws that concern banking, money-service businesses, financial privacy, anti-money laundering and unclaimed property.

Meanwhile, The Register comments on e-money in the context of prepaid accounts in Europe and the UK (see: UK FSA Consultation Paper 172 - Electronic Money: Perimeter Guidance).

Lynn DeRocco reports in RFID Journal on last week's announcement by Philips and Visa International.

Reinhard Kalla, VP and general manager of identification at Philips Semiconductors, sees contactless Visa payments using Philips technology as a big opportunity for both companies. He says the process will be not only convenient, but also private and safe for consumers and merchants. "Philips has been working for years in RFID with tags and labels, and contactless applications are also based on RFID," Kalla says, "You would use this technology as if it were a smart card." He adds that consumers will see "new and more exciting applications and content" resulting from the relationship with Visa in about a year.