CR80News profiles Transport for London's Oyster transit fare payment card.

Oyster, Transport for London's popular transit fare payment card, is about ready for a new benefit for its more than two million users. They'll soon be able to use their contactless card to make small purchases–coffee, newspapers, milk–at participating retailers. TfL in July released what it calls its shortlist of seven companies or consortia bidding on what could be a very lucrative contract.

The Payments Card Center of the Federal Reserve Bank of Philadelphia has just posted two new discussion papers.

The first, “Identity Theft: Do Definitions Still Matter?,” is an original research discussion paper by Industry Specialist Julia S. Cheney. This paper examines four types of financial fraud – fictitious identity fraud, payment card fraud, account takeover fraud, and true name fraud – that fall under the legal term identity theft. It also identifies three areas key to the development of solutions that would benefit from further definitional delineation.

The second, “Federal Consumer Protection Regulation: Disclosures and Beyond (PDF),” summarizes a symposium hosted by the Center this past June at which industry leaders, legal scholars, economists, consumer advocates and policymakers discussed standardized credit card disclosures and other means of protecting credit card consumers. Written by Industry Specialist Mark Furletti, the paper details the key policy recommendations of symposium participants.

Glenbrook regularly conducts two day Executive Workshop "boot camps" covering the world of payments.

This fall, in response to the tremendous financial services industry interest in online authentication, we are also teaching a one day "Authentication in Financial Services" boot camp which is being held in New York City on September 20th and in the San Francisco Bay Area on October 13th.

The authentication workshop will present a comprehensive view of both the problem: fraud, hits to consumer confidence, financial losses, etc., along with many of the proposed solutions. More details are available at the Glenbrook web site.

If you have questions or want more information about the Authentication Boot Camp or any of Glenbrook's other boot camps, contact Carol Coye Benson.

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