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« January 26, 2003 - February 1, 2003 | Main | February 9, 2003 - February 15, 2003 »

February 07, 2003

WSJ: First Data's growth prospects

The Wall St. Journal's Heard on the Street column this morning focuses on First Data's growth prospects.
Chief among the risks: Western Union is losing market share to other money-transfer companies and big banks even as unwelcome headlines loom amid regulatory scrutiny of the unit's compliance in the wake of a settlement it reached recently with the New York State Banking Department over allegedly lax antimoney-laundering controls. In paying an $8 million fine, the company neither admitted nor denied wrongdoing.

February 06, 2003

Washington Post: Fed to cut 400 jobs as it processes fewer checks

John Berry reports on job cuts at the Federal Reserve resulting from fewer checks to process.
With Americans writing fewer checks, the Federal Reserve announced yesterday that it will stop processing checks at 13 of its 45 nationwide sites, close five of them and reduce employment by a net of 400 jobs.

Washington Post: Big stores to charge tax online

Brian Krebs and Jonathan Krim report on recent moves by online retailers to collect sales taxes on online sales.
Under a deal with 38 states and the District, several big retailers that also have major stores around the country -- including Wal-Mart Stores Inc., Target Corp. and Toys R Us Inc. -- will have their online divisions collect sales tax.

American Express Financial Community Presentations

American Express hosted a financial community update yesterday. Slides and text from the presentations are available.

Eula Adams leaving First Data Corp.

First Data Corp. announced this morning that Eula Adams, president of Card Issuing Services, is leaving March 1st. More from the Omaha World-Herald.

February 05, 2003

FCW: GAO flags smart card challenges

Federal Computer Week reports on smart card experience in the US government.
Prepared for Rep. Tom Davis (R-Va.) chairman of the Government Reform Committee, the report said that the 18 agencies have initiated 62 smart card projects among them. Most of them were small-scale demonstrations until the past two years. Since then, some agencies ˜ notably the Defense Department ˜ have launched much larger implementations. "While the technology offers benefits, launching smart card projects ˜ whether large or small ˜ has proved challenging to federal agencies," the report states.
The full GAO report is available here, highlights here.

February 04, 2003

Destination CRM: Outsourcing call centers

Ramin Ganeshram reports on call center outsourcing including CompuCredit's outsourcing of its call center to India-based ICICI One Source.
Rief has protected his company by making a huge stateside investment in redundancy. It costs more, Rief says, but he wants all the systems where he can control them. That translates to multiple IVRs and ACDs in multiple, colocated facilities--all controlled and monitored from Rief's Atlanta Office. There are even Web cams on the call center floor in India. "In terms of technology we even had to think about things like power sources--it's not uncommon to lose power in parts of India," he says.

Washington Post: Choice of credit card

Don Oldenburg reports on tailoring your credit card to your spending and repayment profile as well as intended use.

February 02, 2003

Sydney Morning Herald: eBay account hijacked, bidders bilked in 'rampant' fraud

The story of how Kevin Pilgrim's eBay account was hijacked.
While online auctions rely on trust between buyers and sellers, scammers take advantage of that trust to do their dirty work. In the past, many scammers simply opened their own accounts to hoodwink bidders. But they were more easily traced. Now, the scammers - often international gangs - have wised up. They hack into the accounts of users with good reputations, sellers who showcase their positive feedback, and use those good reputations to ambush bidders. That's what happened to Pilgrim. On December 16, when he checked his email, he found 18 eBay users wanting to buy camcorders from him. When he tried to access his account, he found he was locked out. The password had been changed.

Washington Post: How stores play their cards

Krissah Williams reports on the importance of store cards to retailers and their effects on consumers.

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