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« November 24, 2002 - November 30, 2002 | Main | December 8, 2002 - December 14, 2002 »

December 07, 2002

iPayment files for IPO

Nashville-based iPayment filed a preliminary S-1 Registration Statement with the SEC on Friday. READ MORE »

SF Business Times: Visa starts big push for debit cards

Mark Calvey reports on Visa USA's upcoming launch of a rewards program for its debit cards.
"The program will be easy to implement for card issuers," said Elizabeth Buse, executive vice president of new market development and deployment. Visa is building the infrastructure for the program and will use its hefty marketing muscle to promote the program when it launches in the second quarter of next year. "This is Visa building a platform and a marketing message," Buse said. Visa, which has been working on the program for the past year, declined to discuss how much is being spent on the new rewards program.

Sydney Morning Herald: Fees would deter credit card users

Daniel Dasey reports on an ACNielsen survey which concluded that most Australians would ditch their credit cards rather than pay a proposed surcharge to use them in shops and restaurants.
The ACNielsen study found 73pc of credit-card holders would switch to cash if a fee were introduced for buying goods on their cards.

December 05, 2002

Globe and Mail: BC hit by debit card fraud

Jane Armstrong reports on debit card fraud in British Columbia -- similar to earlier losses in the Montreal area.
Police in Montreal said debit-card fraud is skyrocketing, accounting for $37-million in losses this year, compared with $4.5-million in credit-card fraud. They say debit-card fraud there has jumped 25 per cent in the past year. Canada's banks won't say how much they have lost to debit-card fraud, but they're eating the losses. Fraud victims have been compensated and the banks don't want the thefts to scare people off using their cards.

CNET: No cash? Just blink

Winston Chai reports from Singapore:
To make a mobile payment, cell phone users have to call a dedicated telephone number and key in their passport or ATM (automated teller machine) card numbers. They will then be prompted for a bank-issued personal identification number (PIN), and a confirmation SMS (Short Message Service) message will be sent to their handphones. To complete the purchase, consumers have to display the confirmation SMS message to the cashiers.

December 04, 2002

New York Times: Canada's big 5 banks are a study in contrast

Bernard Simon reports on the big five Canadian banks: Royal Bank of Canada, Scotiabank, the TD Bank Financial Group, Canadian Imperial Bank of Commerce and Bank of Montreal.

Bankrate.com: Foiling credit card fraud

Jenny McCune has authored a basic introduction to credit card fraud issues for merchants.

December 03, 2002

Straits Times: Make card payments through cell phones

Steve Dawson reports from Singapore on a service lets users store credit-card details in phones and use them to pay for purchases, such as movie tickets.
Best-selling phone manufacturer Nokia first introduced its wallet application in its 6510 model during the first quarter of this year. Since then, it has been a feature on seven of its latest models. Nokia has developed the wallet application according to open Electronic Commerce Modelling Language standards. That means that it can be installed and implemented by other phone manufacturers as well. The forthcoming announcement also involves Visa, whose credit-card accounts will be the first that customers can use with the system, and Nets, whose technology is the infrastructure on which it will all be based.

San Francisco Chronicle: Privacy bill back in the hopper

California State Senator Jackie Speier (D-Hillsborough) has re-introduced a new financial privacy bill (SB1 - The California Financial Information Privacy Act) in the California Senate after a similar measure was killed last year.
"It's a new Legislature, a new year and a new opportunity to bring financial privacy protection to Californians," said state Sen. Jackie Speier, D-Hillsborough, as she began her fourth attempt to pass privacy legislation. This time, Speier has a powerful ally -- Senate President Pro Tem John Burton, D-San Francisco -- who vowed to "do everything" to ensure the bill passes.

Glenbrook: Digital identity is not just about security any more!

My partner Carol Coye Benson writes:
There's a sea change happening in the world of digital identity. Suddenly, crypto-geeks and impassioned aficionados of biometrics, software tokens, and smart cards are being pushed to the side. The suits have arrived! Digital identity is no longer about security; it's now a marketing conversation.

December 02, 2002

Encorus Technologies: New web site available

eOne Global's mobile commerce subsidiary Encorus Technologies has a new, updated web site available.
Encorus Technologies is a software company working in the wireless payments space, a family member of the First Data Corp., the world's largest supplier of transaction processing services. It is driving the development of an open, global, mobile payment standard, working with mobile network operators and their customers and merchant acquirers. The company is already working with the Vodafone Group, T-Mobile International and Sprint.

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