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November 17, 2009

Discover Launches iPhone Mobile Application

Discover_logo-140px.jpgDiscover has launched a new Discover Mobile iPhone application - now available as a free download from the iTunes App Store. The app allows a Discover cardholder to view account summary including current balance, etc., make a Discover card account payment, view recent transactions and rewards activity, and enroll in rewards programs.

This Afternoon's Senate Hearing: Abusive Overdraft Fees

The US Senate Committee on Banking, Housing and Urban Affairs is holding a hearing this afternoon on the subject of "Protecting Consumers from Abusive Overdraft Fees: The Fairness and Accountability in Receiving Overdraft Coverage Act". The witnesses will be: Mr. Mario Livieri, Consumer, State of Connecticut; Mr. Michael Calhoun, President, Center for Responsible Lending; Mr. Frank Pollack, President and CEO, Pentagon Federal Credit Union; Mr. John Carey, Chief Administrative Officer, Citibank NA; and Ms. Jean Ann Fox, Director of Financial Services, Consumer Federation of America. READ MORE »

Today's Senate Hearing: Aggressive Sales Tactics on the Internet

The US Senate Committee on Commerce, Science and Transportation is holding a hearing today titled "Aggressive Sales Tactics on the Internet and Their Impact on American Consumers" to explore efforts by some ecommerce companies to offer post-transaction marketing offers to consumers following a purchase. As part of this process, the ecommerce companies usually pass along the consumer's payment card information they've just captured for the purchase to the marketing partner. The Committee staff has prepared a report on the issues involved with this practice and a set of exhibits documenting some of the offers. READ MORE »

MasterCard Launches M/Chip Advance Payment Platform

MasterCard has announced the availability of M/Chip Advance, a payment platform takes traditional debit, credit and prepaid chip cards to the next level by advancing payment functionality, facilitating deployment of contactless applications and integrating information needed for business applications such as transit and loyalty. The result according to MasterCard: "the potential to deliver versatile, multi-functional payment capabilities to consumers on one payment card." READ MORE »

Visa's Transaction Alerts Now Available in North America

Visa has announced the North American rollout of its new transaction alert service allowing card issuers to provide near real-time alerts to Visa account holders throughout the U.S. and Canada.

According to Visa, "the service enables consumers to better manage and track their spending while providing them with an early warning system for potential fraudulent activities. Alerts are sent on behalf of participating issuers directly from VisaNet, Visa’s global processing network, typically within seconds of a transaction occurring. Alerts are triggered when the transaction meets certain criteria the account holder has selected and are delivered directly to the account holder via email, SMS text message or the Visa Mobile application. Visa’s transaction alerts let consumers monitor their accounts for unusual activity and take immediate action if they believe a potentially fraudulent transaction is taking place." READ MORE »

GoPayforit Launches Mobile, Small Payments Service in the UK

GoPayforit_logo-140px.jpgGoPayforit has announced that it has launched its new mobile, small payments service to enable bloggers and content owners to more easily sell content online. The company says that "by using GoPayforit, lower priced content can now be purchased by consumers in an easier, more manageable and less time-consuming way. GoPayforit allows bloggers and content owners to set up a payment service for their site by inserting one simple line of code. Once established, this enables consumers to debit money directly from their mobile phone bill (PAYG or contract) in order to make payments. UK mobile operators provide support for GoPayforit as a secure transaction platform as it is based on the tried and tested Payforit platform." READ MORE »

MasterCard Expands Utility of MoneySend Platform

MasterCard has announced that starting in 2010, MasterCard's financial institutions will have the capability to offer MasterCard cardholders money transfers from any MasterCard or Maestro card to any other MasterCard or Maestro card. According to MasterCard, "this global card-to-card money transfer service will expand the usability and value of MasterCard products and global payments network by providing its customers with a convenient and cost-effective money transfer platform enabling person-to-person payments and cross-border remittances." READ MORE »

MasterCard Selects Cryptomathic for OTA Data Preparation

Cryptomathic has announced that it has been selected by MasterCard Worldwide to manage the data preparation requirements for the deployment of the MasterCard Mobile Over The Air Provisioning Service that enables MasterCard PayPass applications to be provisioned on to mobile phones. READ MORE »

Aconite, Ecebs Collaborate on Multi-Function Smart Cards

Aconite has announced that it will collaborate with Ecebs Limited to develop and deliver a smart card that combines transport ticketing and payment capabilities with other services. According to the company, "he combination of Aconite’s back-office smart card administration and transaction processing software with Ecebs’ software for developing on-card applications will provide a unique end-to-end solution for managing smart card products, individual smart cards and their applications." READ MORE »

CyberSource 2009 eCommerce Fraud Survey Shows Decline in Merchant Losses

CyberSource has announced the results of its latest annual survey of eCommerce fraud finding that "merchants in 2009 were fighting back against fraud, and seeing considerable evidence of success. U.S. and Canadian merchants expect to lose about $3.3 billion to eCommerce fraud this year, down from $4 billion last year. This is the first drop in estimated revenues lost since 2003. The percentage of revenue merchants predict they will lose in 2009, on average, is 1.2%, the lowest estimate in the 11-year history of the survey." READ MORE »

Cambodian Bank selects M-Com for Mobile Banking

M-Com has announced that ACLEDA Bank Plc has selected its BankAnywhere to power its mobile banking and payment services. ACLEDA will deploy M-Com’s BankAnywhere product within its secure data center in Phnom Penh and integrated to its Temenos T24 core banking system. The solution will enable ACLEDA customers to make person-to-person payments, pre-paid top up, utility bill payments and manage their finances in both Khmer and English scripts. READ MORE »

Headline News - November 17, 2009

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers looking to hire payments professionals can post their job openings there as well.

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