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« January 15, 2006 - January 21, 2006 | Main | January 29, 2006 - February 4, 2006 »

January 28, 2006

January's Top 11: Most Read New Stories

January's Top 11 Most Popular News Stories on Payments News are:

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The Cash-Back Card Face-Off

Ron Lieber reports for the Wall St.Journal on the best choices among cash-back credit cards - he particularly likes two Fidelity Investments rewards cards issued by MBNA.

January 27, 2006

The US Financial System Response To Katrina

The Payment Card Center (PCC) of the Federal Reserve Bank of Philadelphia has announced a new discussion paper: "How Effective Were the Financial Safety Nets in the Aftermath of Katrina?" (PDF), written by Julia S. Cheney of the PCC and Sherrie L.W. Rhine of the Office of Regional and Community Affairs at the Federal Reserve Bank of New York.

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Japan: Banks Implement Consumer Tokens

RSA SecurIDRSA Security has announced that Japan Net Bank and Sumitomo Mitsui Banking Corporation have selected RSA SecurID strong authentication tokens to better protect online banking customers in Japan. Japan Net Bank will be the first to deliver two-factor authentication tokens to over one million online banking customers.

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Japan: Mobile Phones For ATM Access

Yomirui Shimbun reports on plans by Japan's Sumitomo Mitsui Banking Corp. to introduce a service later this year to allow ATM access by customers using mobile phones equipped with contactless chips in lieu of cards - plus the customer's PIN number. The bank says it will remodel about 7,000 ATMs to provide the new service.

American Express RED Card Contributes To Global Fund

American Express RED CardAmerican Express has announced the American Express RED Card - currently only available in the UK - that contributes a percentage of purchases on the card to the Global Fund, a leading funder of programs to fight AIDS, tuberculosis and malaria.

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PayPal Expands Operations In Omaha

Expansion Management reports on PayPal's expansion in Omaha, adding a new 125,000 square foot building at its La Vista operations center.

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Chase's New 'blink' Credit Card Has Critics Concerned

Richard Burnett of the Orlando Sentinel reports on a debate between some consumer groups and Chase over whether the new contactless technology being used in Chase's new 'blink' cards makes credit card fraud any easier.

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Paper Checks Face Electronic Dethroning

Kim Crompton reports for the Spokane Journal of Business on an accelerating decline in the use and popularity of paper checks.

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Heartland Payment Systems Invests in Parcxmart

Heartland Payment Systems has announced that it is making a strategic investment in Parcxmart Technologies, an electronics payments company.

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January 26, 2006

More On Today's First Data Corp. News

First Data Corp. has posted the webcast of its investor call earlier today along with the accompanying Investor Presentation.

Betsy McKay reports on the story for the Wall St. Journal.

Reuters reports that Fitch Ratings has lowered FDC's issuer default rating as a result of today's announcement.

Most Trusted Retail Banks

Ponemon Institute and Vontu, Inc. have announced the results of their 2006 Privacy Trust Study for Retail Banking concluding that National City and US Bank tied for first place.

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Choicepoint Settles Data Security Breach Charges

The Federal Trade Commission has announced that ChoicePoint, Inc., which last year acknowledged that the personal financial records of more than 163,000 consumers in its database had been compromised, will pay $10 million in civil penalties and $5 million in consumer redress to settle FTC charges that its security and record-handling procedures violated consumers’ privacy rights and federal laws.

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First Data Plans to Spin-Off Western Union

First Data Corp. has announced that it plans to separate its Western Union consumer payments business into an independent publicly traded company through a tax-free spin-off of 100% of Western Union to First Data shareholders.

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Pay By Touch Raises Over $60 Million in New Financing

Pay By Touch has announced it has closed more than $60 million in new financing through the sale of Series C Preferred Shares.

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Reminder: Digital Commerce Summit

Digital Media Wire is hosting a 1-day executive forum for companies addressing the digital entertainment space on Tuesday, January 31 in New York City.

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January 25, 2006

Bank of America Begins Sales of Affinity Credit Cards

Bank of America has launched online sales of more than 200 affinity credit cards for certain sports, universities and charities in what is the first major integration of MBNA offerings, the company announced today.

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Dynamic Passcode Displayed On A Visa Card

Visa Display CardVisa says it is working with Innovative Card Technologies and nCryptone to offer a new technology that enables Visa payment cards to generate and display a dynamic passcode for one-time use when banking or shopping online.The generated passcode is only accepted once and is useless in subsequent transactions. Visa expects the new display card to be available in select markets later this year.

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Visa: Consumers Worried About Personal Information

Visa International has released the results of new global survey of consumer attitudes concluding that the theft or loss of personal and financial information is the No. 1 concern of consumers worldwide (64 percent). A media backgrounder on the survey results (PDF) is available online.

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Consumers Confused About Payment Security

The US Department of the Treasury has released results of a new survey that revealed several key misconceptions among US consumers about payment security.

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Experian Launches Collections Solution

Experian has announced the launch of Collection Triggers, a collections solution that monitors a company's portfolio of collections accounts and identifies new information indicating the possibility of recovering the debt.

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January 24, 2006

Duques Named Unisys Chairman

The Board of Directors of Unisys Corporation has elected First Data Corp. Chairman and CEO Henry C. "Ric" Duques as non-executive Chairman effective Feb. 1. Duques has been on the Unisys board since 1998.

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Is Everyone Your (Pay)Pal?

eMarketer.com explores PayPal's latest quarterly results and also reports that, based on a recent SG Cowen report, 91 percent of US online consumers have a PayPal account.

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CheckFree Seeking VP Payment Management

CheckFree is seeking a VP Payment Management to be based in either Atlanta, GA or Columbus, OH.

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Analysts Expect Big News From First Data On Thursday

Julie Macintosh reports for Reuters that analysts expect First Data to update its plans regarding restructuring and potential divestiture at its analysts' meeting coming up this Thursday.

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The Best Rewards Cards: Airline Miles Or Cash Back?

Scott McCartney writes in his Middle Seat column for this morning's Wall St. Journal about rewards cards - the traditional airline mileage variety vs. some of the newer cash-back rewards cards - and concludes that for many travelers, frequent-flier mileage cards may offer the better deal.

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