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« September 8, 2002 - September 14, 2002 | Main | September 22, 2002 - September 28, 2002 »

September 19, 2002

MasterCard International and Xign announce eB2B payment solution

This morning MasterCard International and Xign announced "the introduction of an electronic payment and information management service that is expected to dramatically simplify procurement processes and contribute to an organization's bottom line."
The solution, part of MasterCard's global eB2B strategy, will provide organizations with streamlined financial supply chain benefits, including increased management controls, buyer-approved electronic payments, enhanced data capture, and data reconciliation. In addition, the new payment platform will support a varied choice of settlement options including the MasterCard Corporate Purchasing Card®, MasterCard Remote Payment and Presentment Service˙(MasterCard RPPS˙), and the Automated Clearinghouse (ACH).

Visa International develops global payment specification for contactless smart cards

Visa International has developed a new global payment specification that removes the need to physically insert a smart card into a reader. The new specification, designed to work side-by-side with conventional chip and magnetic stripe technologies, will support a faster and more convenient way to pay and be paid, particularly in environments where access to traditional, card-based payment methods has been limited. Based on an international standard, ISO 14443, the new specification uses a chip embedded in a plastic card or an electronic device, such as a mobile phone. The card, mobile phone or other device is then held in front of a terminal and a wireless interface transits the payment information.

Visa International sues Reserve Bank of Australia

In an attempt to overthrow recently enacted regulatory rules, Visa International has filed suit against the Reserve Bank of Australia, the central bank of Australia. READ MORE »

September 17, 2002

CNET: CIBC outsources to HP

Congratulations to Hewlett-Packard who has been awarded a seven year I/T outsourcing contract with Canadian Imperial Bank of Commerce.
"This is one of the largest outsourcing deals in terms of revenue that's been signed this year by any services company," said Ann Livermore, executive vice president for HP Services. It's also by far the biggest services agreement signed by HP since its merger with Compaq Computer last May, HP executives said.

September 16, 2002

MSNBC: Debit cards overtake credit cards

MSNBC follows up on an earlier Visa USA press release that reports on a transaction basis (as opposed to a dollar value basis) Visa debit cards have overtaken Visa credit cards.
During the first six months months of the year, there were 3.04 billion Visa debit card transactions compared to 2.96 billion credit card transactions, credit card association Visa said Monday.

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