A substantial breakthrough, Bank of America can now connect an enterprise's pre-approval workflows straight through to the card network, enabling purchasing cards to become the payment vehicle of choice in business- to-business transactions.
The new capability is enabled by technology from Works, Inc.
"Charter One's commitment is to provide value for its customers and the communities it serves. The Make-A-Difference debit card does both by providing a free way for our customers to support some wonderful charities just by doing what they already do," said Mark Grossi, Charter One's executive vice president and head of retail banking. "Everyone has a bank account, but this is one that people can actually feel good about."
"There’s real concern about financial losses, but what these companies are really concerned about is the erosion of their brand name and trust, and that people won’t use the Internet as a channel for commerce or customer service—especially if you’re an e-commerce vendor, and all your business is done online,” says the APWG’s Jevans.
It's even easier today than when he was a globe-trotting flimflam man 40 years ago, Abagnale said. "The fact is that what I did 40 years ago is 2,000 times easier to do today," he said.
Payments with debit cards look set to rise by more than a third following the introduction of new-style, more secure “plastic”, according to research today. Four out of 10 people said they would use their debit card more often once chip and PIN cards were launched, while nearly a third thought they would carry less cash, according to MasterCard.
The Times of London also covers the MasterCard report.
We've seen it explode from last year because it works," said David Jevans, chairman of the Anti-Phishing Working Group, a coalition of financial-services, software and Internet companies based in Redwood City, Calif., that works to alert consumers about e-mail scams.
So, the bigger banks are using a carrot-and-stick approach to get consumers to see it their way. Many are imposing fees of 25 cents or 50 cents locally if you use your card with the PIN. You only get the airline miles and other rewards points now available with some cards at Citibank, KeyBank, and Charter One if you sign for purchases.
The Citi Home Rebate Card provides an effortless way to help homeowners pay off what is often their biggest financial commitment -- their mortgage -- simply by charging their regular, everyday purchases. But the reward is significant, as they build equity in their home faster, while shortening the length of their mortgage," said Gina Doynow, Senior Director, Citi.
"The acquiring market has long demanded an alternative to the services that are out there today, and we are responding to that demand with a reliable, powerful and effective solution that offers processors a fresh and highly competitive alternative for their dial POS merchant portfolios," said Sharon Cline. "This is a great step forward for the acquiring industry and Hypercom."
Consumers have long been victimized by Internet scams and fraud. But the newest scams are more dangerous because the perpetrators are getting more experienced at deception and marketing, experts say. Where early "phishing" e-mails were often poorly written and inconsistent, now they are carefully crafted and include logos, links and Web sites that mimic the real thing.
If inhabiting the shadowy side streets and shady cul-de-sacs of the information superhighway teach Lee Goehring anything, it's this:
Think like a thief.
When Goehring thinks like a thief it's to thwart bad guys who favor phishing, skimmers and spyware -- not to commit crimes, because he's vice president and loss prevention manager for 1st Source Bank in South Bend, Ind.