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« August 4, 2002 - August 10, 2002 | Main | August 18, 2002 - August 24, 2002 »

August 17, 2002

Line56: MasterCard

Line56 reports on MasterCard's SmartLink and SmartData Online initiatives. IBM, Paybox offer wireless payment system

IBM Corp. and German software vendor AG will combine their efforts to offer customers the ability to make secure payments from wireless devices, the companies announced Thursday.

Omaha World-Herald: TSA could lose its listing on NASDAQ

Virgil Larson reports on the problems Transaction Systems Architects is facing because of delays in completing an audit as a result of questions about a possible financial restatement.

Barrons: Concord EFS -- profits from debits

Eric Savitz reports on Concord EFS in this week's Barrons.
The combined effects of the hedge-fund incident, the SEC rumors and slightly messy accounting in the latest quarter have taken their toll. The result, though, is an opportunity to buy a highly profitable, fast-growing company at a relatively low price. Concord should earn a little over $400 million this year, or about 75 cents a share, on revenues of $2.2 billion. For 2003, the Street is figuring on roughly 25% earnings growth, to about $500 million, or 95 cents a share. Labry says he's "comfortable" both with the current range of Street estimates and with the notion that the company can keep growing at 25% a year for the foreseeable future. With the stock a shade under 20, you're paying about 20 times 2003 earnings -- not bad for a company growing that fast.
Olga Kharif writes a similarly upbeat story in Business Week.

August 13, 2002

Gail Hoffman: e-Payments

Gail Hoffman gave a presentation to the Electronic Commerce course at the Zicklin School of Business, Baruch College, City University of New York, last March which describes in wonderful detail the evolution and reality of e-payments. Gail was, for many years, with Citibank in New York. The full course material for Prof. Koufaris' Electronic Commerce course is also available here.

eWeek: CyberSource develops C# component

eWeek reports on CyberSource's new C# interface.

August 11, 2002

NY Times: Financial institutions may facilitate identity theft

Matt Richtel reports that the accomplices who enable identity theft may be their own financial institutions.
What is less obvious is one of the report's central conclusions: that financial institutions are contributing to the theft by failing to take obvious steps to prevent it. "The majority of credit card fraud is the result of financial institutions' leniency in the account-opening process," according to the report. It said thieves used victims' identities to open fraudulent accounts and then used those accounts, for example, to launder money.

NY Times: Bigger bar code

Kate Murphy reports in Monday's New York Times on the conversion retailers face in going from 12-digit to 13-digit bar codes.
Starting Jan. 1, 2005, the 12-digit bar codes retailers use to identify everything from cars to candy bars will go to 13 digits. The additional number (and associated bars and spaces) is enough to make checkout scanners seize up and make computers crash, perhaps disrupting entire supply chains. But many retailers have yet to focus on a problem that will require significant investments in time and capital.

Barrons: JMP Securities downgrades First Data Corp.

First Data First Data Corp. (FDC-NYSE) By JMP Securities (31.85, August 6, 2002) We are downgrading our rating on shares of First Data to Market Perform from Market Outperform, as we continue to accumulate data that suggest the quality of First Data's earnings is deteriorating in every segment. The deterioration is due to a combination of increased competition, stepped-up pricing pressures, an over-reliance on acquisitions, and questionable acquisition prices being paid by the company.


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