A discussion about MasterCard's PayPass product is taking place on Slashdot.
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.
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.
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.
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.
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."