General Motors Corp. has announced it has entered into a definitive agreement to sell a 51-percent controlling interest in General Motors Acceptance Corp. (GMAC) to a consortium of investors led by Cerberus Capital Management and including Citigroup and Aozora Bank. GM expects to receive approximately $14 billion in cash from this transaction over three years, including distributions from GMAC, with an estimated $10 billion by closing.

In an article on IT Voices titled "Reading, Writing And Security", Nathan Cummings, director of product line management for HID Corp., compares the various technology standards for contactless smart cards: International Organization for Standardization (ISO) 15693 and 14443 vs. MIFARE.

Discover Financial Services has announced that its fraud protection services and online customer security center at Discovercard.com have been ranked number one in a comprehensive, third-party report on the credit card industry.

Renee McGaw writes for the Denver Business Journal about the rollout of contactless cards in the Denver market area led by Chase and Key Bank.

Red Herring interviews I4 Commerce's CEO Gary Marino in which he talks about progress with Bill Me Later, now offered by more than 240 merchants and actively used by over 1 million active buyers.

BioPassword has announced a new multifactor authentication software solution that authenticates users and reduces fraud over the Internet by combining the user's standard login credentials (userID and password) with the behavioral biometric of keystroke dynamics (their unique typing rhythm).

• Obopay Working on Complete Mobile Payment Service for QUALCOMM's BREW(R) Solution
• The 41st Parameter Partners with Analytics Expert to Improve Online Security for Merchants and Banks
• Detica launches new type of fraud detection system
• PINs are card security's Achilles heel
• First American Payment Systems Selects AdvanceMe for Solution Benefiting Its ISOs and Merchants
• paybox Goes Live With the 3rd Generation of Its Proven and Patented Mobile Payment Solutions
• Gartner highlights significant trends in wireless and mobile industry
• GlobalPlatform appoints full time executive director
• UK: OFT investigates payment protection insurance
• New Paymetric XiBuy 2.0 Extends Purchasing Card Processes within SAP - from Requisition and Purchase Order to Payment and Reconciliation
• CompuCredit Designs Credit Card Portal Using iRise
• The U.S. Credit Card Processing Industry is Highly Concentrated with the Top Four Companies Accounting for 40 Percent of Industry Revenues
• First Data Corp., Electronic Clearing House Inc. and Nova Information Systems Inc. Enter Into License Agreements With LML for Check Conversion
• Turkey's Central Bank sets maximum credit card debt rate
• Penn State: Semester bills are going paperless
• Standardization and Rising Venture Capitalist Interests Spearhead Growth in European Biometric Market
• NTT Comware Launches PHISHCUT Digital Watermarking Anti-Phishing Solution
• Tackling the debt problem
• Bill-payment kiosks gaining ground in c-stores
• WebWatch: Why does phishing work?
• Business Week: Dazed and Confused: Data Law Disarray
• Nuance Communications Changes the Way People Interact with Mobile Devices and Services; Nuance Mobile Bridges Mobile Search, Communication and Device Control
• CFC says merger terminated over card glitch
• U.S. Bank Launches Service Campaign by Asking Consumers ``How Many Stars Does Your Bank Have?''
• Lindsay Goldberg & Bessemer Agrees to Acquire Majority Position in Miami's Intermex Wire Transfer, LLC
• Alliance Data Signs 10-Year Contract Renewal With Goody's; Expands Relationship to Include Co-Brand Credit Card Services
• Vietnamese prefer chip bank cards: survey
• Vital Processing Services Approves On Track Innovations' Saturn 5000 Contactless Reader
• Bread Box stores step into future to offer biometric pay system
• Most Americans Plan to Use Their Tax Refunds for Savings, Investments, or to Pay Off Debt
• India: UP police probe credit card cloning