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« April 11, 2004 - April 17, 2004 | Main | April 25, 2004 - May 1, 2004 »

April 24, 2004

Beepcard

New Scientist reports on Beepcard, a credit card that will not work unless it hears its owner's voice.

More about Beepcard in Bruce Schneier's latest Crypto-gram newsletter.

UK Phishing Attacks

The BBC reports on phishing attacks in the UK including estimates of financial losses suffered to date as reported by APACS.

More Smart Card Standards Needed

FCW.com reports on a recent NIST study (PDF) that found a need for additional technical and policy standards as agency officials discover more uses for smart cards spanning organizations.

FDIC Warns About Phishing

The FDIC has issued a warning about phishing emails.

April 22, 2004

Verifone's Rob Regan on Contactless

Verifone's Rob Regan writes in The Green Sheet about contactless/proximity payments.
The benefits of contactless payment for consumers and the retailers have been proven in numerous implementations. Increased convenience for the consumer has resulted in increased sales and faster transaction times for the retailer. Retailers also enjoy lower costs due to fewer requirements to handle cash, improved operational efficiencies, and lower maintenance costs due to the reliability of contactless readers.

Chase Launches Instant Credit Card Issuance Program

Chase and Universal Studios today announced a new instant credit card issuance program for the Universal Entertainment MasterCard from Chase. READ MORE »

PayPal's Financial Performance

eBay reported earnings yesterday - including results from PayPal. At the end of the quarter, PayPal reported 45.6 million user accounts, a growth of 67% over last year. PayPal's total purchase volume for the quarter was $4.3 billion, a growth of 64% over last year, and generated revenues of $158.2 million, a growth of 66% over last year. PayPal's loss rate came down to 27 basis points vs. 31 basis points in the December quarter.

Based on this report, PayPal now has more users than AOL (AOL has 40.2M users according to a recent comScore Media Metrix analysis). Given PayPal's currrent user account growth rates, they'll likely pass up HotMail this month, and Yahoo in June.

First Data Announces Earnings

First Data Corp. announced its first quarter 2004 financial results this morning.

April 21, 2004

Retail Loss Prevention

CSO Magazine has a feature article on retail loss prevention.
We're definitely seeing more and more organized theft, as opposed to opportunists and amateurs. Part of the reason for this could be the ease of getting rid of the merchandise. In the past you would find stolen products showing up in flea markets across the country. But today with Internet auctions like eBay, there's a whole new outlet for stolen products.

eFunds Announces Two Acquisitions

eFunds has announced two acquisitions in the fraud and risk management arena.
"We are pleased to welcome both Penley and LCS to the eFunds group of companies," said Paul Walsh, chairman and chief executive officer, eFunds Corporation. "These acquisitions will allow eFunds to offer an integrated platform for risk management, fraud prevention and revenue optimization through our industry leading ChexSystems(SM) product suite. In addition, these acquisitions provide us with an entry point to extend our solutions into the Credit Card, Insurance and Broker Dealer markets.

April 20, 2004

Smart Card Alliance Issues Report on Contactless Payments

The Smart Card Alliance has issued a new report on the benefits of contactless payments to merchants, consumers and issues.

CyberSource Enhances Small Business Offering

CyberSource has announced that it has enhanced its small business offering by bundling in additional risk management tools.

Visa's Global Debit Volume Surpasses Credit

Visa International has announced that, for the first time, its global debit card volume has surpassed its global credit card volume.
The company reported that global Visa debit card volume reached US$1.48 trillion at the end of 2003, an increase of 17 percent over the previous year. At the same time global Visa credit volume increased five percent from the previous year to US$1.45 trillion.

April 19, 2004

Cryptography Research to License Smart Card Techniques

ZDNet reports on plans by Cryptography Research to license patented technology that can protect devices from differential power analysis attacks. More in a press release.

Chip and PIN Rollout

The Herald reports from Scotland on the rollout of chip and PIN.

Vital Introduces Planet Payment Dynamic Currency Conversion

Vital has announced an agreement with Planet Payment to offer dynamic currency conversion services.

Hypercom to Support Authorize.net

Hypercom has announced that it will be adding support for Lightbridge's Authorize.net payment gateway to its Optimum T4100 POS terminals.

April 18, 2004

Zip Code at the Pump

Hillary Wasch reports in the Miami Herald on some gas stations requiring customers to enter their ZIP codes when using credit cards to pay at the pump.

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