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

« June 2004 | Main | August 2004 »

July 31, 2004

Smart Card Uptake Threatened by Alternative Technologies

Tekrati reports on a new Frost & Sullivan analyst report that explores how alternative technologies including proximity cards, USB dongles, etc. could affect adoption of smart card solutions.

July 30, 2004

Lightbridge Results Include Authorize.Net

Lightbridge on Wednesday reported second quarter financial results including results from its Authorize.net payment processing business that was acquired from InfoSpace on March 31, 2004. READ MORE »

July 29, 2004

Smart Cards and Loyalty Programs

Malcolm Fowler writes an opinion piece in CRM Buyer about loyalty programs and related technologies. READ MORE »

Comdata Teams with eFunds

Comdata has announced it is teaming with eFunds to offer a surcharge-free network option to its payroll card customers at the more than 15,000 eFunds US ATM network locations.

On the Hooks of Phishers

Leslie Walker asks in the Washington Post whether we all just need to go to school, a digital self-defense school!
Phisher attacks are skyrocketing. They have the Internet and banking industries terribly worried -- though apparently not enough to fix the problem yet.

July 28, 2004

Building a Business Using Cards

Business Week's Robbie Vorhaus takes a look at building a business using credit cards as a financing source.

Hispanic Banking

Knowledge@Wharton takes a look at Hispanic banking in the US.

Consumer Bankruptcies Decline

Lundquist Consulting reports that consumer bankruptcy filings in the first six months of 2004 have declined 3 per cent as compared to the first six months of 2003. The largest decline took place in California where filings decreased 11.8 percent over 2003.

Oberthur Ready for E-Passposts

Oberthus Card Systems has announced its ID-One 64K dual interface contact and contactless smart card has received FIPS 140-2 Level 3 certifcation, qualifying it to compete globally for e-passport contracts.

PayPal Class Action Settlement Claims Procedures

PayPal has been emailing members regarding procedures they should follow for submitting claims related to the recent settlement by PayPal of a class action lawsuit. READ MORE »

FDIC White Paper: Limited-Purpose Banks

Earlier this month, the FDIC released a white paper as part of its Future of Banking series looking at limited-purpose banks (PDF) including credit card banks.

Malaysia: Your Cellphone as Credit Card

The Star reports on a mobile commerce solution developed by Cassis Services working with SK Telecom.

India: Smart Card Applications

Thomas Simonis writes in India's Financial Express on other applications for smart cards -- particularly related to health care and transportation.

July 27, 2004

Consumers and Phishing

Bob Sullivan reports on MSNBC about MailFrontier's recent survey of consumer reactions to phishing emails.
About 28 percent of the time, the consumers incorrectly identified the phishing messages as legitimate. What's more, the legitimate e-mails were often dismissed as potential fraud.

ATMs: The Money Machines

Fortune writer Ellen Florian takes a look back at the early days of ATM machines. READ MORE »

NRF Says Banks Mislead Consumers on Debit Card Fees

The National Retail Federation announced today that it has filed comments with the Federal Reserve Board on the subject of fees charged by banks for consumers using a PIN number with their debit cards. READ MORE »

American Express Discount Rate Declines Slightly

American Express CFO Gary Crittenden held a conference call yesterday afternoon to review second quarter financial results. In the talking points (PDF) prepared for the call, Crittenden noted that Amex's discount rate (fees charged to merchants) had declined 3 basis points from the first quarter of 2004 and from the same quarter last year. READ MORE »

NASA Selects Philips MIFARE Contactless Chip Technology

Philips has announced that NASA has selected its MIFARE contactless chip technology for use in smart cards enabling physical site access. READ MORE »

Stored Value Systems Invests in ProfitPoint

Stored Value Systems has announced a strategic investment in ProfitPoint, a provider of gift and loyalty card solutions to small and medium-sized retailers and restaurants. READ MORE »

Velosant Acquired by Harbor Payments

Velosant, the electronic invoice presentment and payment business of eONE Global, has been acquired by Atlanta-based Harbor Payments.
"Adding Velosant's clients to our already impressive customer base makes Harbor Payments the clear leader within the EIPP market," said Harbor Payments' CEO, Ashish Bahl. "We are the only player in the marketplace that can offer a fully integrated solution across all collection and disbursement functions including EIPP, EBPP, payment management and disbursement," stated Bahl.

Fed Publishes Check 21 Regulatory Amendments

The Federal Reserve has published final amendments to Regulation CC and its commentary as part of the implementation of Check 21.
The Board's amendments: (1) set forth the requirements of the Check 21 Act that apply to banks; (2) provide a model disclosure and model notices relating to substitute checks; and (3) set forth bank indorsement and identification requirements for substitute checks. The amendments also clarify some existing provisions of the rule and commentary.

The Board's Federal Register notice is available online.

July 26, 2004

American Express Reports 18% Increase in Discount Revenues

American Express has reported second quarter financial results including an 18% increase in card-related discount revenues.
"Our record results this quarter reflected outstanding growth in cardmember spending among consumers, small businesses, corporations and on cards issued on our network by bank partners," said Kenneth I. Chenault, Chairman and CEO. "Continued investments in the card business helped us to capitalize on competitive opportunities and generated broad increases in the retail, everyday spending, travel and entertainment sectors of the market."

Mercator Report: The Point of Sale Industry

Mercator Advisory Group has published a new report by analyst Nick Holland titled POSsibilities: The Point of Sale Industry - Global Markets and Players. READ MORE »

A Look at Aggregation Services

David Robinson reports in the Buffalo News about online consumer aggregation services. READ MORE »

VeriSign Internet Security Intelligence Briefing

VeriSign has just published the third edition of its Internet Security Intelligence Briefing.
This edition highlights Internet usage trends, threat and vulnerability patterns, and best practices to improve enterprise security. The report features a section devoted to the analysis of phishing attacks, a fast-growing category of criminal scams that trick Internet users into disclosing personal information, leading to identity theft.

July 25, 2004

Checkfree Auction Payments

Mark O'Neill writes in AuctionBytes about Checkfree's Auction Payments service and some differences between it and PayPal for auction sellers.

Cellphones Quickly Becoming Wallets

The Taipei Times carries an AP story from Tokyo on NTT DoCoMo's wireless network and new cellphones capable of carrying electronic cash.
To pay you simply wave your cellphone within a few centimeters of a special display found in stores, restaurants and vending machines around Japan. A fairy-like tinkling sound means your purchase is being deducted from the embedded chip using radio-frequency ID technology. It's instantaneous.

July 23, 2004

Ecommerce Chargebacks Declining

Linda Punch reports in Credit Card Management on the progress being made by online ecommerce merchants in reducing their losses due to cardholder chargebacks.
The progress e-merchants made against chargebacks over the past year is encouraging. Nevertheless, the battle rages on.

While chargeback ratios have "come down significantly, it's still a big problem," says Visa's McCarthy. Chargebacks for face-to-face transactions are "somewhere in the neighborhood of 7 cents to 8 cents out of every $100 put on a Visa card," he says. "We are still in the 25-cents-to-30-cents range in the e-commerce channel. There's still a big gap we want to close."

Sponsors

News View

Payments Consultants

Subscribe

Languages