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February 28, 2006

Payments News - Now in High Definition!

We've been doing a bit of experimenting with "going wider" for our basic format here on Payments News. We sorta like the 16:9 ratio of the HDTV displays - and most of our readers (over 90 percent) appear to have displays on their PC's that will support this wider format.

If you're interested in seeing what Payments News might look like in "HD", click here! For the moment, only the Payments News home page is available in HD format. Please send us any comments/feedback that you might have about the new "HD" version of Payments News.

Joint Ventures Win Antitrust Shield

Bloomberg reports on a US Supreme Court decision today that affirmed that "joint ventures have broad power to set prices without violating U.S. antitrust laws." The case, TEXACO INC. v. DAGHER ET AL (PDF), involved oil company joint venture pricing decisions.


S1 Integrating PassMark's Multi-Factor Authentication

S1 Corporation has announced a strategic relationship with PassMark Security to integrate PassMark's risk-based authentication security system with its retail and small business online banking solutions to S1's nearly 1,000 financial institution customers.


Cardtronics, Info Touch - "Bi-Directional" Cash ATM

Cardtronics and Info Touch have announced a hybrid ATM unit which is the result of combining a traditional, cash- dispensing ATM with a cash-accepting financial services kiosk.


Banking Customers Prefer to Bank Online

J.D. Power and Associates has announced the release of their 2006 Retail Banking Satisfaction Study which concludes that, with transaction times of nearly three times faster than interacting with a branch teller, online banking is the preferred transaction method among banking customers.


Global Payments Investor Presentation

Earlier this month, Global Payments posted an updated investor presentation (PDF) to their web site.

Capital One Investor Presentation

Capital One CEO Rich Fairbank gave a presentation on his company's strategy earlier this month. A copy of his presentation (PDF) is available online on the Capital One web site.

Chase Card Services Investor Presentation

Earlier this month, Chase Card Services CEO RIch Srednicki spoke at the 2006 Credit Suisse Financial Services Conference. A copy of his presentation (PDF) is available online on the JPMorganChase web site.

February 27, 2006

An Ecommerce Merchant's Frustration With Bank Cards

In an article titled 'How Mastercard, Visa Seem To Be Strangling Ecommerce," Marketing Sherpa publisher Anne Holland writes about her company's recent experience with their merchant acquirer's ecommerce merchant risk management practices.


An Approach To Masking Data For Privacy

I attended a talk at Stanford this afternoon on "Data Privacy" given by Sachin Lodha of the Tata Research Development and Design Centre in Pune, India. The talk was part of Stanford's Security Seminar series.


Best Practices Limiting Fraud Exposure On/Offline

Mercator Advisory Group has announced a new research report titled "Total Transaction Security: Best Practices in Limiting Fraud Exposure Online and Offline" that traces the lifecycle of fraud from theft to detection to identify strategies for protecting payment transactions.


Banks Increasingly Concerned About Retaining Deposits

Grant Thornton has announced the results of its thirteenth Annual Survey of Bank Executives, concluding that bankers are most concerned about their abilities to retain deposits in the face of increased competition, retain key employees, and attract new business.


Gary Bender Named Pay By Touch VP of Biometrics

Pay By Touch has announced that Gary Bender has been named vice president of biometrics at Pay By Touch where he will oversee Pay By Touch's biometric technology applications.


Using Mobile Phones For Local Marketplace Purchases

TextPayMe blogs about the use of their new SMS-based mobile payment service for face-to-face transactions -- such as paying the seller when you're picking up goods you're purchasing from a Craigslist listing -- following mention of the idea in a Search Engine Journal post about Google Payments last Friday.


Fair Isaac Reportedly Plans Click Fraud Effort

Burt Helm reports for Business Week on increasing concerns about click fraud on Internet advertising - and on plans by Fair Isaac, a company with considerable expertise in the area of financial fraud detection, to announce at this week's Search Engine Strategies Conference that it intends to help the online advertising industry better address the growing problem of click fraud.


Another Look At Fed's Consumer Finances Survey

David Wyss reports for Business Week on last week's release of the Federal Reserve's triennial Survey of Consumer Finances.


Mobile Banking, Payments Are Inevitable

Business Day reports from South Africa on mobile banking applications, a recent study done by Arthur D. Little on prospects for and progress in mobile payments, and comments from mobile payments software developer Craig Saks, COO at Cape Town-based Fundamo.

According to Saks, "few people will deny that mobile banking will become pervasive - it is just a question of what form it will take."

Pulse's Stan Paur Predicts More Flexibility in Debit

David Breitkopf writes for the American Banker about Stan Paur's view of the future of the US debit card market. Paur has been president and CEO of Pulse EFT for years and is about to step up from that role to chairman following last year's acquisition of Pulse by Discover.


Another Look At Google Payments

Mike Arrington's TechCrunch blog takes a deeper look at Google Base and Google Payments (with screenshots) in a post written by Nik Cubrilovic.

February 26, 2006

Keyloggers Replace Phishers

Phishing is already passé among global cybercriminals - according to Tom Zeller Jr.'s article "Cyberthieves Silently Copy as You Type" in Monday's New York Times.


The Personal Finance Blogs - Money Bloggers

This week's Business Week reports on a new category of personal finance blogs called "money bloggers" - where the authors discuss their personal financial situations, their goals and strategies, and share their financial results as they make their moves.


Ask Glenbrook: PayPal's Revenues, Seller Fees

We recently received the a question about PayPal's revenues and the fees it charges to sellers:

I do have a question for you regarding Paypal's revenues. In your summary of PayPal's 2005 financial results, PayPal's revenues were reported as representing "3.67% percent of gross payment volume, up 10 basis points from 3.57% last year." It seems like that number is high.


Googling Me The Money?

Eric Bangeman writes for Arstechnica about Google's Friday update on its payment plans, explores the potential implications for eBay and PayPal (Buy It Now listings seem most at risk from a Google Base/Payments combo), and asks, in a year or so, whether people will be saying "Googling me the money" instead of "PayPaling" it like they do today.


Your Call Should Be Important to Us

In his article "Your Call Should Be Important to Us, but It's Not," William C. Taylor writes for the Sunday New York Times about how silly it is that companies who could be learning so much directly from their customers use technology to attempt to deliver customer service without even listening.


A Penny Earned Is A Penny Spent - In America

Marilyn Gardner writes for The Christian Science Monitor about the personal savings rate of Americans hitting a new low last year (actually a negative number -0.5%) for the first time since the Depression era 1930's.


Most Savings Accounts Paying Next To Nothing

Kathleen Pender writes for the San Francisco Chronicle about how most bank savings accounts, including her daughter's at Wells Fargo, are paying out very low rates of interest and she urges examining several better alternatives.


Breaking The Cycle of Bad Credit

Sonja Ryst reports for Business Week the for many young adults in the 25-to-35 age group, credit-card debt can seem insurmountable. Her "Five for the Money" column lists five specific steps to follow to get control of credit card spending and reduce credit card debt.


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