"This transaction underscores a strong and strategic commitment First Data has made to meeting the future payment needs of merchants in growth segments such as petroleum, supermarket and QSR," said Scott Betts, president of First Data Merchant Services. "Our first priority is to ensure new benefits and continued quality service for PayPoint clients, and to complete the BP implementation. Both First Data and PayPoint clients will benefit from the combined strength of First Data and PayPoint. It will enable us to deliver market- specific payment-processing solutions to more merchants. That includes capitalizing on First Data's ongoing success in penetrating the PIN-based debit market," Betts added.
Digital ID World today announced the formation of the industry's first venture capital working group to focus on opportunities within the emerging digital identity industry. Participants include Brad Feld of Mobius Venture Capital, Walter Knapp of Novell Technology Capital, Dave Chen of OVP Venture Partners, Gus Tai of Trinity Ventures, Rick Patch of Sequel Partners, Alex Tosheff of St. Paul Venture Capital and Shawn Luetchens of Saffron Hill Ventures. The group is supported by Allen Weinberg of Glenbrook Partners, a consultancy focused on identity, and by Digital ID World, the premier source for digital identity news, views and the presenter of the Digital ID World Conference.
The real surprise is that it took so long. For months, rumours had been circulating on Wall Street that eBay, the leading online-auction service, would buy PayPal, the dominant provider of Internet payments. When the takeover was finally announced on July 8th the terms, too, were much as expected.The article also contains a rumor about Google potentially being acquired by Yahoo.
But Liberty's biggest achievement with the Phase 1 specification is likely to be the softening of the market for federated identity. The language of the specification talks of multi-level authentication of users --- i.e., the ability to authenticate Johnny's bank transaction at a different level than Sally's Amazon purchase. This language is an extension of a core concept of the Phase 1 specification. It allows separate silos of identity to be linked, so that, while Silo B can determine the strength of authentication Silo A used, Silo B cannot at any time learn the data associated with the identity in Silo A.Peter Drayton shares some of his thoughts about the specifications.
Mr. Sinclair said that during the last year he received virtually no business plans for new online casinos but more than 100 business plans from people looking to find a way around the payment problem. "The opportunity to create the better payment mousetrap is just huge," he said.
Mr. Rusick said the company did not accept credit cards on overseas orders because foreign credit card issuers do not have address verification systems. "So we can't verify that, yes, indeed, the person making the order matches the information the bank has on them," he said.