Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   Advertise   About         SUBSCRIBE:

« March 2, 2003 - March 8, 2003 | Main | March 16, 2003 - March 22, 2003 »

March 15, 2003

New York Times: Tiny transactions, without the coins

Ken Belson reports from Tokyo on the Suica and the bitWallet Edy proximity payment cards -- both developed by Sony.
Pockets in Japan, however, are getting lighter with the growing use of integrated-circuit smart cards. The size of a credit card, they are packed with thin antennas and an encrypted integrated chip that can be used thousands of times to pay for train fares, meals at restaurants and snacks at convenience stores. In less than two years, nearly seven million people in Japan have started using one of two types of cards, both based on technology developed by Sony.
Discussion continues on Slashdot. Howard Rheingold also covers the story.

March 14, 2003

MasterCard seeks separation from Visa in merchant litigation

MasterCard has announced that it has asked the court to order separate trials of MasterCard and Visa in the Wal-Mart/merchant anti-trust lawsuit.
„After more than six years of litigation, 350 fact and expert depositions, and the exchange of millions of documents, plaintiffs have not - and cannot - prove by any evidence, much less a preponderance of evidence, any conspiracy between MasterCard and Visa,‰ Noah J. Hanft, MasterCard‚s general counsel, said. „MasterCard believes that if given the opportunity to have a full and fair trial based purely on its own acts, the case against it will fail, and its Honor All Cards rule, which requires that merchants who agree to accept MasterCard accept all MasterCard-branded cards, will be recognized as being pro-competitive and providing American consumers with the broadest choice of payment options in the world,‰ Hanft said.

MasterCard's US$1.99 multi-application smart cards

MasterCard has announced that a number of technology vendors are supporting its $1.99 multi-application smart card initiative.
MasterCard first introduced its MULTOS-based multi-application smart card under its US$2.99 chip program in December 2000. Now, MasterCard has brought down the price of its state of the art, 16K multi-application MULTOS card by 33 percent to US$1.99. The US$1.99 card contains MasterCard's EMV compliant M/Chip credit/debit application, Mondex e-cash, Public Key Infrastructure (PKI) file storage and PKI identification applications built into the chip, ready for enablement as required by MasterCard's member financial institutions. The ability to offer these high specification smart cards at such a competitive price was made possible by the increasing numbers of such cards being issued.

Biometrics in Financial Services: New Glenbrook Research

My partner, Allen Weinberg, has just completed a new research report on Biometrics in Financial Services.
This advisory report investigates the fit of biometrics to financial service applications, looking first at market structure, key biometric concepts, and common misconceptions before moving on to explore potential application areas in financial services and adoption challenges.

ComputerWorld: Don't ask, don't tell ecommerce

Robert Mitchell writes about the recent theft of 8 million credict card numbers from a processor.
The card associations' policies, as demonstrated, could be described thusly: Don't publicize credit card thefts in any way; don't require card issuers to notify affected card owners unless they ask; don't share the list of compromised account numbers with merchants; and don't require banks to reissue stolen cards. And don't worry -- banks will monitor accounts for "unusual activity" with automated, high-tech monitoring tools.

March 12, 2003

Visa Asia Pacific updates chip card progress

Visa Asia Pacific has put out a press release today updating the status of chip card activities within that region.

March 10, 2003

The Age: Catch me if you can

James Hall reports from Melbourne about the use of fraud detection technologies in a variety of financial services businesses.


News View

Payments Consultants