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« September 12, 2004 - September 18, 2004 | Main | September 26, 2004 - October 2, 2004 »

September 25, 2004

Perks of Plastic: Credit Card Rewards

Mellody Hobson of ABC News takes a look at the kinds of rewards programs now available on many credit cards. Today, credit card rewards programs are what many card issuers are using to try to attract new consumers. READ MORE »

Use of E-Check Growing Rapidly

Michelle Singletary reports on the increasing use of e-checks.
An e-check is a one-time electronic debit made from your checking account. So, your checking account statement would reflect an electronic funds transfer. Under electronic check conversion, your check is simply used to obtain information -- bank routing number, check number, etc. -- to process your purchase or payment. All that information is used to make an electronic withdrawal from your account using the Automated Clearing House network (ACH).

September 24, 2004

How Consumers Pay Bills Online

Research and Markets has a new report available that looks at consumer preferences and actual behavior with respect to paying bills online. READ MORE »

Bank Cash Management Services Pricing Information

The Association for Financial Professionals has announced that it is partnering with Informa Research Services to provide its members with information about prices that banks charge for nearly 200 frequently used cash management services.

Mobile Payments Impact on Cards

Wireless Developer Network reports on a roundtable held in London recently that explored the impact that mobile payments will have on established payment methods including cards.
Instead of replacing the credit card, mobile payments will evolve in two directions: managing transactions for small digital purchases and, in the long term, being integrated with credit cards so that phone users can trigger a larger credit card purchase from their phone. In this way mobile payments will complement, not replace the credit card model.

September 23, 2004

Card Compromises

MSNBC's technology correspondent Bob Sullivan reports on the growth in card compromises.

PayPal Wars

Eric Jackson's new book PayPal Wars will be published later this month.

Consumers Confused About Online Best Practices

Wells Fargo has announced the results of a recent consumer survey that shows that many Internet users are confused about which online activities are safe and which are not. READ MORE »

September 22, 2004

Peppercoin, Moneris Establish Small Payments Alliance

Peppercoin and Moneris Solutions have announced a strategic alliance to make Peppercoin's 2.0 service available to merchants by the end of the year. READ MORE »

September 21, 2004

PayPal Hacks Now Available

O'Reilly's new book PayPal Hacks by Shannon Sofield, David Nielsen, and Dave Burchell has just been published -- I received my advance order copy today. More details here -- including the ability to purchase the book from O'Reilly online using your PayPal account.

Payments 2004: The Merchant Perspective

Glenbrook's Allen Weinberg recently keynoted the Direct Response Forum's conference in San Francisco. Allen spoke on key issues and opportunities affecting card-not-present merchants.

Allen has turned his DRF presentation into an article titled Payments 2004: The Merchant Perspective that is now available on the Glenbrook web site.

DDoS Attacks on Authorize.net

Netcraft reports on distributed denial of service attacks against payment processor Authorize.net. The company has also posted an update about the attacks on its home page.

AOL, RSA Security Launch AOL PassCode

AOL and RSA Security announced this morning the launch of AOL PassCode, a new premium service that offers members a second level of AOL account protection through the use of a keychain-sized device that generates and displays a unique six-digit numeric code every 60 seconds.

AOL is offering AOL PassCode as a premium service to AOL members for a one-time cost of $9.95 for each device plus an additional $1.95 - $4.95 per month, depending on the number of screen names on the account that are secured to an AOL PassCode device. READ MORE »

TRM Acquires eFunds ATMs

TRM Corporation has announced that it is acquiring over 17,000 ATM's in the US and Canada from eFunds for $150 million. The portfolio is comprised of approximately 2,200 full placement and 15,000 merchant owned units located in geographically diverse retail locations. Following this acquisition, TRM will be the largest operator of ATM's in the world.

Credit Cards That Scream "I'm Rich!"

Amey Stone reports in Business Week Online about credit cards for elite consumers. READ MORE »

iBill and DuoCash Partner

iBill and DuoCash have announced a joint marketing agreement that allows iBill's online merchants to accept prepaid phone cards as an alternative to credit cards for payment. READ MORE »

September 20, 2004

Contactless Payments Now Accepted at Three NFL Stadiums

CR80 News reports on the implementation of contactless payment systems at three of the National Football League stadiums using Smart Systems Technologies PowerPay or MasterCard's PayPass solutions. READ MORE »

Too Many Phish in the Internet Sea

David Gallagher writes in the New York Times about the continuing stream of email-based phishing attacks.

Separately, Symantec is releasing the latest update of its Internet Security Threat Report today. Of particular concern is the increasing use of bot networks of compromised PC's in perpetrating various attacks.

September 19, 2004

Hip-Hop Tycoon Jumps Into Banking

Carolyn Said reports in today's San Francisco Chronicle on Russell Simmons' RushCard, a prepaid Visa debit card for the "unbanked" offered by Unirush Financial Services. READ MORE »

Portland's Smart Parking Meters Take Cards

Betsy Hammond reports in the Oregonian on the smart parking meters developed by Sweden's Cale Access AB that are being deployed in the city of Portland and how they're a model for other cities considering similar systems.
So-called SmartMeters require motorists to walk as far as 100 feet from their cars to pay for a receipt to stick on the vehicle window. But the solar-powered machines have proved a hit in Portland, city officials say, because they take debit and credit cards -- the option chosen by more than half the Portland parkers given the choice.

Pluses and Minuses of Payroll Cards

The AP's Eileen Alt Powell reports on the pluses and minuses of payroll cards for workers.

Paying It Smart

Regina Marie Glick writes in Newsday about new card technologies.
Experts can't predict specifically when smart cards will be in wide use in place of traditional magnetic stripe credit and debit cards, but they say that improving technology and the expanding list of uses for such cards bring that day ever closer.

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