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« August 15, 2004 - August 21, 2004 | Main | August 29, 2004 - September 4, 2004 »

August 28, 2004

Goodbye to Check Float

Getahn Ward writes in the about reductions in check float that will result from the upcoming implementation of Check 21.

August 27, 2004

The Lowdown on Gift Cards

Lucy Lazarony writes on about everything you want to know about gift cards.

August 26, 2004

PayPal Enhances Merchant Referral Bonus Program

PayPal has increased the PayPal merchant referral bonus paid for bringing new businesses to PayPal. It's now possible to earn up to $1,000 per merchant referred as compared to $100 previously. READ MORE »

American DreamCard Launches

A subsidiary of Metris, Direct Merchants Credit Card Bank, has announced the launch of the American DreamCard Platinum MasterCard.
The American DreamCard gives the cardholder the opportunity to win a monthly cash jackpot every time they spend $1.00 on everyday purchases. The American DreamCard is not a lottery; it is a MasterCard, so there is no need to stand in line, buy tickets or pick numbers. Simply use the card for everyday purchases and get an entry for every net $1.00 spent on the American DreamCard (up to 1,000 entries per a $1,000 transaction). The monthly jackpot will grow with the amount of money spent on the American DreamCard by all American DreamCard cardholders.

Bank of America Names Barbara Desoer Payments Head

Information Week reports on the appointment by Bank of America of Barbara Desoer as chief technology, service and fulfillment executive.
She will lead strategy development and execution for the bank's technology platforms and fulfillment capabilities, which include ATMs, call centers, consumer-risk operations, and its Latin American business. She'll also lead development and implementation of the company's payments strategy.

August 25, 2004

Counterfeit Card Losses

Datamonitor has published a new report on credit card counterfeiting, estimating that losses from counterfeiting have grown 30% in the last year.

The Usher Card - Prepaid Debit

The Boston Globe's Ann Chin reports on the Usher card, a prepaid MasterCard debit card. READ MORE »

Smart Cards for Strong Authentication

Bank Systems and Technology has an article by the Tower Group's John Gould on the use of smart cards to provide strong authentication over insecure public networks.

August 24, 2004

Phishing: What's Your Responsibility?

Larry Ponemon writes an opinion piece in ComputerWorld that asks the question about what exactly is the responsibility of financial institutions in dealing with a phishing attack?

Financial Institutions Warned of Threats from Within

Gary Fields of the Wall St. Journal this morning reports on the results of a recent first of a kind survey by the Secret Service exploring threats to financial institutions from insiders. The report, "Insider Threat Study: Illicit Cyber Activity in the Banking and Finance Sector" (PDF), was conducted with researchers at Carnegie Mellon University. READ MORE »

Experian Acquires Americas Software Corporation

Experian has announced the acquisition of Americas Software Corporation, a developer and marketer of regulatory compliance software systems which provides anti-money laundering solutions for banks and other financial institutions worldwide. READ MORE »

Paymentech to Deliver eFund's SCAN Check Authorizations

eFunds has announced a new relationship with Paymentech to deliver its SCAN check authorization database to Paymentech's merchant customers.

GE Consumer Finance Plans Emerging Markets Expansion

Reuters reports on a Wall St. Journal story this morning about the growth plans of GE Consumer Finance for emerging European and Asian markets -- in a strategy similar to that of Citibank's.

Encryption Flaws Present No Immediate Security Risk

Gartner has posted a briefing on potential vulnerabilities in the Secure Hash Algorithm (SHA-1) as discussed at the recent Crypto 2004 conference in Santa Barbara.

August 23, 2004

Dealing with Credit Card Debt

Stacy Teicher writes about how American consumers are attempting to deal with big credit card balances in a two-part series in the Christian Science Monitor. The second part profiles four American consumers and how they are dealing with their credit card debit.

Separately, Reuters reports that US credit card delinquencies fell to a four-year low in June.

Moody's credit card delinquency index, which measures credit card bills 30 days or more past due, fell to 4.37 percent in June from 5.12 percent a year earlier. June marked the 11th consecutive month of declines in delinquencies and was the lowest since June 2000, the rating agency said.

Hong Kong Banks Promoting Credit Card Usage

Brian Kelleher reports for Reuters on new advertising campaigns being launched by Hong Kong banks to promote credit card usage.

The Lure of Phishing

Jonathan Sidener writes in the San Diego Union-Tribune about the lure of phishing and the anti-phishing activities of San Diego-based WebSense.

Meanwhile, ComputerWorld reports on phishing attacks against two of Germany's biggest banks: Postbank and Deutsche Bank.


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