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« March 30, 2003 - April 5, 2003 | Main | April 13, 2003 - April 19, 2003 »

April 11, 2003

Glenbrook: I can prove who I am

My partner Carol Coye Benson shares her opinions re: identity theft -- and how the future may not be so bleak.

April 09, 2003

ComputerWorld: Fidelity looks at biometrics to ID clients, employees

Juan Carlos Perez reports on Fidelity's biometric efforts.
About three years ago, Fidelity's top management decided it was time the company explored biometrics and how it could benefit from the use of these technologies. Since then, Boston-based Fidelity has taken some decisive steps toward implementing biometrics tools and learned quite a bit about the challenges associated with the field, according to Sheldon Watson, a senior systems analyst at Fidelity who chairs the company's biometrics steering committee.

April 08, 2003

Reuters: Court rules Visa, MasterCard hid fees

Reuters reports on California Superior Court Judge Ronald Sabraw's decision today ordering MasterCard and Visa to pay millions in refunds to customers after failing to properly disclose currency conversion fees. Both MasterCard and Visa said they would appeal the decision.

RFID Journal: RFID smart cards gain ground

RFID Journal reports on the use of RFID tokens for payments.
Michael Madden, VP of e-business development for Mastercard International, said that using a contactless smart card could reduce the average transaction by 15 seconds. And since customers don't have to figure out how to swipe a card through a reader, the shopping experience is more satisfying.

TSYS, PAR3 Give Consumers Faster Warnings of Card Fraud

TSYS has announced TSYS Notification, a new service which alerts cardholders of suspicious transactions.
Here's how it works: After TSYS gauges a transaction's veracity with its TSYS CardGuard® fraud detection system, TSYS Notification immediately sends a detailed, automated phone message that requests the customer to verify the transaction (e-mail notification will be added later). TSYS Notification then offers the customer several sophisticated response options: the customer could confirm the purchase, forward the information to other users on the account or connect to a CSR to discuss the transaction in more detail. The customer's responses are immediately updated in the processing system, which ensures that service personnel are fully prepared to meet the customer's needs before receiving the call.

April 07, 2003

Alliance Data Systems plans secondary offering

Alliance Data Systems has announced plans for a secondary offering. The S-3 filed by ADS with the SEC is available online.

NTT DoCoMo, Visa in mobile payments trial

PMN reports on a new mobile payments trial in Japan involving NTT DoCoMo, Visa, Nippon Shinpan, OMC Card and AEON Credit.
The service uses an i-Appli Java application and the IR port of DoCoMo's 504i series handsets. Users enter their credit card details into the i-Appli application and can then use the handset to transmit payment via IR to specially-equipped retail terminals. The trial will involve about 3000 users, selected by Nippon Shinpan from its existing Visa customers, and 500 retailers in the Tokyo area. Visa is supplying technical expertise and implementation of its 'Visa Proximity Payments Messaging Specification'.

GE Investor Day

GE held an investor day last week focused on commercial and consumer finance. Of particular interest is the presentation on GE's global consumer finance business. In the US, GE has about 100 million consumer relationships through its private label card business. GE claims that merchants benefit greatly from private label cards -- visiting 50% more frequently and spending 30% more per visit. In addition, merchants save money when private label cards are used as they are less expensive than traditional bankcards. GE also discussed its plans for dual use cards -- combining private label and bankcard together in a single piece of plastic (similar to cards issued today by Sears and Target). GE is planning to launch dual use cards later this year.

April 06, 2003

Minneapolis Star-Tribune: Target defends growth of its credit card operations

Eric Wieffering and Melissa Levy report on Target's credit card operations.
"The sole reason we're in the credit-card business is to give our guests a reason to visit the store more often and spend more on each visit," Douglas Scovanner, Target's executive vice president and chief financial officer, said in a recent interview. But the growth in Target's $6 billion credit portfolio, and the Minneapolis-based company's ability to manage risk at a time of rising joblessness and personal bankruptcies has given some analysts pause.


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