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« February 26, 2006 - March 4, 2006 | Main | March 12, 2006 - March 18, 2006 »

March 11, 2006

On PayPal's Omaha Expansion

A friend writes: Be sure to see this article about PayPal's expansion in the Omaha area: PayPal Expansion: La Vista Business to Add 600 Jobs

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PayPal's Jeff Jordan To Keynote CTIA Conference

Amid all of the recent announcements about mobile payments startups, m-wallets, etc., PayPal's president Jeff Jordan is scheduled to give a keynote address to the upcoming CTIA Wireless 2006 conference being held in Las Vegas April 5-7. Jordan's keynote is scheduled for April 6 at 9:30 AM.

Montreal's GFI Solutions Catching The Wave Of The Future

Robert Gibbens writes for the Montreal Gazette about Gilles Letourneau - mathematician, computer expert, co-founder and CEO of Montreal's of Montreal's GFI Solutions Inc., a specialist in niche services, such as back-office systems and electronic payments.

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Headline News - Saturday, March 11, 2006

Note: Throughout the day, as Payments News happens, this post is updated.

Debit Cards Offer Less Security Than Credit Cards

Frank Norton writes for the Raleigh, NC News-Observer about the differences between debit and credit cards when it comes to protections against fraud, billing disputes, etc.

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March 10, 2006

Real Life Chip And PIN Frustrations

In an article titled 'Pick a card, any card or your number is up," Isabel Berwick writes for the Financial Times (UK) about her personal frustration attempting to check out of a swanky hotel last weekend and not being able to pay because she couldn't remember her PIN.

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Banking Strategies - JD Power Retail Bank Satisfaction Study

A friend writes: I'd like to draw your attention to a big customer satisfaction study published in current issue of BAI's Banking Strategies magazine In an article titled 'Why Can't Some People Commit?"

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Javier Perez Named President of MasterCard Europe

MasterCard International announced today that it has named Javier Perez President of MasterCard Europe, effective immediately. Perez will report to Alan Heuer, Chief Operating Officer, and have responsibility for the 53 countries that encompass MasterCard's European region.

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The Net Best Thing: Purchasing Card Update

Andrew K. Reese writes for Supply & Demand Chain Executive on the current state of purchasing card adoption and what American Express, MasterCard, Visa and GE have in their 2006 plans for their purchasing card products.

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Jeff Jonas - Pioneering The Future of Personal Data

NPR's Morning Edition had an interview this morning with Jeff Jonas, chief scientist with IBM's Entity Analytic Solutions, in which he talks about the future of privacy protection.

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InfoCard - Can Microsoft Save the Net?

Stanford Law School Professor Lawrence Lessig writes in Wired about Microsoft's InfoCard, the company's new identity management system scheduled to debut later this year with the release of Windows Vista. Lessig says InfoCard "could be the most important contribution to Internet security since cryptography."

When to Say "Freeze!"

Sonja Ryst writes for Business Week about her personal experience getting worried about a potential identity theft and what she learned about putting a freeze on her credit file at the three major credit bureaus.

Americans Using Credit Cards To Pay For Basics

Stephanie Salter writes for the Tribune-Star (Terre Haute, IN) about a "riveting" recent study examining how Americans use credit cards titled "The Plastic Safety Net: The Reality Behind Debt In America" (PDF). The 44-page report is the result of a year long, joint effort of Demos and the Center for Responsible Lending.

Issuer Marketing Of Credit Card Payment Insurance

David Lazarus reports for the San Francisco Chronicle on some of the marketing techniques being used by credit card issuers to sell "credit card payment protector plans" - otherwise known as credit card payment insurance or debt suspension agreements - to consumers.

March 09, 2006

Gartner - Fraudulent ATM Withdrawals Reflect Widespread Threat

Gartner analyst Avivah Litan writes about recent debit card/ATM fraud involving Citibank and other banks.

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An Innovation Process For Bankers

Matt Stichnoth writes for Tom Brown's Bankstocks.com about innovation - "the search for the new, new thing in banking" - the latest book from Ideo's Tom Kelley and how some of Kelley's notions apply to innovation in financial services.

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If You Can't Trust Your Bank, Who Can You Trust?

Larry Greenemeier blogs for InformationWeek about the problems some US debit cardholders are having getting cash at ATMs when traveling internationally - as a result of some banks blocking PIN-based transactions in certain countries that have experience unusual patterns of debit card fraud.

MobileLime Focusing on NFC Mobile And Loyalty Solutions

In a press release late last month, MobileLime announced a new platform that will allow consumers to get rewards and pay for purchases by waving their cell phone over a contactless reader at merchants.

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Debit Card Attacks Also Involve PIN Compromises

Bob Sullivan reports for MSNBC on the recent incidents of debit card fraud that appear to be the result of card data being captured and used to create new counterfeit cards that are then used to access cash from ATMs.

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ICBA, Microsoft Team Provide Data Security Resources for Community Banks

The Independent Community Bankers of America and Microsoft have announced they are teaming up to help community banks manage the security of their technology infrastructures and battle emerging security risks.

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Debit Cards For Unemployment Benefits In North Carolina

Tom Murphy reports for The Rocky Mount (NC) Telegram that the Employment Security Commission of N.C. will soon stop mailing checks to unemployed people who qualify for benefits and replace them with debit cards.

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European Commission Holds Payment Fraud Prevention Seminar

The European Commission has announced the completion of a two-day seminar on prevention of payment fraud with countries aiming to join the EU, which took place on 8-9 March 2006 in Brussels.

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Experian Introduces Triple Alert Credit Bureau Monitoring

Experian Consumer Direct has announced that Triple Alert, the only three-bureau credit monitoring product at the low price of $4.95 per month, is now available at http://www.TripleAlert.com.

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Headline News - Thursday, March 9, 2006

Note: Throughout the day, as Payments News happens, this post is updated.

March 08, 2006

Contactless Pay Technology Opens Up A New Frontier for Vending

Michael L. Kasavana reports for AMonline.com on how proximity payment systems powered by radio frequency identification media is pushing vending to the forefront of the dynamic changes taking place in retail commerce.

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Obopay Plans Mobile Payment Service In US

Palo Alto-based Obopay has announced closing a $10 million Series A financing round with investors Redpoint Ventures, ONSET Ventures, and Richmond Management. Obopay says it will soon bring to market "the first comprehensive mobile payment service in the U.S. that allows subscribers to get, send and spend money directly from their mobile phones."

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Zits On Mobile Payments

Today's Zits cartoon by Jerry Scott and Jim Borgman features a comic commentary on mobile payments! You know mobile payments have arrived when the humor does too. Next thing you know, Jon Stewart will be reporting on them too!

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