Timothy O'Brien reports in the Sunday New York Times about the biggest case of identity theft ever uncovered in the United States.
Joan Goldwasser reports on Kiplinger.com about new credit cards targeting high spending individuals.
Yahoo! has announced that it is closing its PayDirect money transfer service effective November 22, 2004. Yahoo! is no longer accepting any new PayDirect accounts effective immediately. There will be a transition period through May 15, 2005 at which time the PayDirect web site will be shuttered completely.
"Without a large user base to support PayDirect, the business doesn't scale," said Yahoo spokesman Brian Nelson. "We're discontinuing the service in an effort to focus on the businesses that are core to our future growth."
The National Geographic Channel will be airing a TV special this Sunday, October 24, at 8 PM ET/PT titled "Inside the U.S. Secret Service".
Reuters is reporting from Seoul that South Korea's three mobile operators (SK Telecom, KTF Corp., and LG Telecom) have agreed to setup a joint venture to allow customers to pay for goods using their cell phones.
Citi Cards is telling cardholders about a new "email security zone" that will be included in every legitimate email it sends them. The purpose of the "zone" is to convince the cardholder that the email is legitimate by including the cardholder's name as well as the last 4 digits of the cardholder's account number at the very top of the body of the email.
Tavia Evans writes in the St. Louis Post-Dispatch about the shift to card-based payments.
Economists long have predicted a cashless society, where digital transactions replace paper money and coins. Now, nearly one in three in-store purchases is made with a debit card, a study by American Bankers Association and Boston-based Dove Consulting shows.
I4 Commerce has announced a new private label credit offering. Ross-Simons, a current Bill Me Later customer, is the first merchant to expand its relationship with I4 Commerce by offering the Ross Simons Preferred Customer Card.
eBay reported third quarter financial results (PDF) earlier this afternoon including results for PayPal, its payments subsidiary.
Charles Jade on arstechnica.com covers the recent opening of the new Apple "mini" retail store in the Stanford Shopping Center in Palo Alto. Included is a picture of Apple's new self-service checkout facility. Here's another view.
The Wharton School's Strategic Management newsletter highlights a talk by Visa International CEO Christopher Rodrigues at a conference last month in London.
Moodys reports that US consumers paid back credit card debt at record levels during August.
"The payment rate has increased from its year-earlier levels for the past 15 consecutive months, demonstrating an improvement in cardholders' willingness and ability to make payments on their credit card debts," Moody's said in a statement.
Gartner reports that it believes microcommerce opportunities will generate an estimated $60 billion in revenue per year by 2015 -- using the definition that a micropurchase is a purchase conducted electronically that is valued at less than $5 and where the settlement can be either prepaid, by subscription, on-the-spot, of invoiced.
In its quarterly earnings report this morning, Wells Fargo Bank reported some interesting statistics about its online Internet-based business:
Keynote has published the initial results for its new Keynote Credit Card Web Transaction Performance Index. The initial results from Keynote's Credit Card Transaction performance index showed a wide range of performance for some of the largest credit card issuers' Web sites.
Visa International has announced that dollar value of all purchases and cash withdrawals made with Visa Commercial payment solutions globally reached $200 billion for the year ending June 30, 2004, an increase of 26 percent over the same period last year.