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« April 25, 2004 - May 1, 2004 | Main | May 9, 2004 - May 15, 2004 »

May 08, 2004

Canada: Dexit

Dexit, a Toronto-based firm, is pursuing the market for low value electronic payments using RFID technology at physical point of sale locations.

May 07, 2004

Needed: A Reliable Payment System for Virtual Goods

Is there a reliable payment system for virtual goods? Robert Cringely claims it's not PayPal.
PayPal is not built to reliably support a peer-to-peer economy.

PayPal Ecommerce Safety Guide

PayPal has posted in their Security Center a new Ecommerce Safety Guide (pdf).

Discover in Quest to Find New Image

Ellen Kelleher reports in the Financial Times about Discover's prospects.

May 06, 2004

Discover Seeks Partnerships

Discover CEO David Nelms has announced that Discover is actively seeking partnerships with US financial institutions and merchants. READ MORE »

Gartner Estimates Costs of Phishing

Gartner has announced results of a study on phishing that concludes that direct losses from identity theft fraud perpetrated against phishing attack victims cost U.S. banks and credit card issuers about $1.2 billion last year.

Avoiding Phish Hooks

Mark Fernandes reports on phishing in the Prague Post.
Experts say the threat from phishing could potentially have a devastating impact on consumer trust in e-commerce and e-banking despite attempts by government and law-enforcement officials to crack down on fraudulent Web sites. The open nature of the Internet makes it easy for criminals to hide, say police and consumer advocates.

Separately, David Ticoll reports in Canada's Globe and Mail on how to avoid being the victim of a phishing attack.

May 05, 2004

Plastic Overtaking Paper

Carolyn Said reports in this morning's San Francisco Chronicle on the growth in card payments and some other comments based upon an interview with Visa USA CEO Carl Pascarella..

May 04, 2004

Citibank's Signature-Free Account Opening

Lavonne Kuykendall reports in today's American Banker on Citibank's new signature-free account opening process for new checking accounts via its web site. READ MORE »

The Phisher Kings

Glyn Moody reports on Netcraft about the parallels between spam and phishing.

May 03, 2004

NACHA Says Consumers Save with Direct Deposit and Direct Payments

NACHA reported today that more than 60 percent of consumers are enrolled in Direct Deposit, up over 4 percent from 2003. Direct Payment (a pre-authorized debit that uses the Automated Clearing House network for recurring consumer bills such as mortgages, loans, and utilities) is being used by more than 50 percent of Americans. NACHA estimates that by using Direct Deposit and Direct Payment the average consumer can save more than $400 a year.

MasterCard Reports First Quarter Growth

MasterCard has announced growth in purchase activity on MasterCard-branded cards of 13.6 percent for the first quarter 2004 as compared to the prior year.

PayPal Launches Web Services API

PayPal has announced PayPal Web Services, a suite of new web services API's.
PayPal Web Services enables more streamlined and automated access to the PayPal platform, and broadens the audience for PayPal's ecommerce tools to include advanced technical developers and enterprise customers. PayPal Web Services are based on open standards, supporting Simple Object Access Protocol (SOAP) and Web Services Description Language (WSDL).

"Through PayPal Web Services, we are able expand the availability of advanced online payment capabilities to a new class of developers, third-party tool vendors and merchants," said Dave McClure, Director of PayPal's Developer Network. "These new standards-based APIs will allow almost anyone to create innovative applications and services incorporating PayPal."

May 02, 2004

Choicepoint CEO Interviewed

AP Technology Writer Brian Bergstein has interviewed Choicepoint chairman Dennis Smith regarding his views on identity vs. security.

Smarter Phishing

Dennis Fisher reports in eWeek on the increasing sophistication of phishers. Meanwhile, the IRS has warned email users to be on the lookout for emails attempting to solicit personal information by spooking the consumer into thinking they're under investigation.


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