The Association for Payment Clearing Services (APACS) in the UK says that after consumers have been advised of online risks such as phishing, they may stop providing refunds to those customers who have safety information but ignore it.
Kristen Millares Bolt reports in the Seattle Post-Intellligencer on gift cards.
Gift cards as a modern method for spreading holiday cheer may not have been what St. Nick had in mind when he first began loading up his sleigh, but it's going to allow people to stuff their own stockings. It's a sure bet walnuts and oranges won't be rounding out the toe.
VeriFone has announced that it is teaming with McAfee to jointly develop the industry's first virus protection solution addressing point-of-sale payment terminals.
The Scotsman reports on action by the UK's Office of Fair Trading announcing an inquiry into Visa and issuing a last-chance warning to MasterCard regarding interchange fees. The OFT's press release on the matter is available online.
Unisys has announced consumer research results that found that nearly half of US households would be willing to switch their accounts to financial institutions that offer stronger identity theft protection and alert services. The study also reported that one in five US households -- more than 21 million -- have been directly affected by identity theft.
Chase announced today that it is sponsoring Amazon.com's new Amazon Theatre.
"Amazon Theater brings the silver screen to consumers' computer screens and discounts and rewards to Amazon.com Platinum Visa(a) cardmembers' wallets. The program also gives Chase an innovative way to market its payment products to Amazon.com's tens of millions of customers during the holiday season when traffic is highest."
MasterCard has announced the results of their SecureCode Holiday Shopping Survey conducted by Harris Interactive.
The BBC reported last Friday on an investigation of a major security breach at Abbey Bank's Cahoot online banking website. The issue involved "a loophole which meant customers could log in to other people's accounts using just a user-name and bypassing any security information."
Checkfree Software has announced a new payer verification capability for checks that uses image capture technology to pull payee names off of check images. The new capability allows banks to identify altered or unmatched payee paid exception items. If the results conclude the check has been changed or added to, it is rejected as an exception and may be presented to the company for a "pay" or "return" decision with no loss to the customer or the bank.
Visa USA has reported the results of its second annual cash management survey which showed that more than half (51 percent) of financial executives surveyed plan to reduce their organization's reliance on the use of checks for commercial payments. Forty percent of respondents indicated they intend to increase their use of commercial payment cards instead.
Visa USA has announced that spending on Visa branded payment cards during the first week of November 2004 rose to $22 billion, an increase of 15.7% over the same week last year.
Consumer spending on Visa branded credit cards surpassed $10.8 billion while debit spending reached more than $9 billion, a 5.8 and 28.7 percent increase from the same period in 2003, respectively.
The Electronic Payments Network has announced a minimum remittance information standard, EPN 820, intended to improve the straight through processing for business-to-business payments.
Fundtech has announced that it plans to support the new Minimum Remittance Information Standard in its next software release.