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« August 30, 2009 - September 5, 2009 | Main | September 13, 2009 - September 19, 2009 »

September 11, 2009

Card Hacker Albert Gonzalez Pleads Guilty to 19 Counts

Thief-140px.jpgAlbert Gonzalez, 28, of Miami, pleaded guilty today to 19 counts of conspiracy, computer fraud, wire fraud, access device fraud and aggravated identity theft relating to hacks into numerous major U.S. retailers including TJX Companies, BJ's Wholesale Club, OfficeMax, Boston Market, Barnes & Noble and Sports Authority. Gonzalez was indicted in August 2008 in the District of Massachusetts on charges related to these hacks. More than 40 million credit and debit card numbers were stolen from major U.S. retailers as a result of the hacking activity.

Gonzalez also pleaded guilty to one count of conspiracy to commit wire fraud relating to hacks into the Dave & Buster's restaurant chain, which were the subject of a May 2008 indictment in the Eastern District of New York. The pleas in both cases were entered before U.S. District Court Judge Patti B. Saris in federal court in Boston. READ MORE »

September 10, 2009

Mobile Financial Services for the Next Billion Customers

PaymentsViews_logo-140px.jpgOver on our sister blog PaymentsViews.com, Glenbrook's Erin McCune reports on a recent panel discussion on mobile payments in developing markets organized by Menekse Gencer of mPayConnect.

According to Erin, "The evening started with a primer on mobile financial services..." Click here to read on.

Finovate 2009 - Last Call for Early Bird Registration!

Finovate2009_logo-140px.jpgFinovate will return to New York City on Tuesday, September 29 to showcase the best new financial and banking technology innovations from established leading companies and hot young startups. Handpicked from hundreds, the companies get a mere 7 minutes on stage to demo (no powerpoint allowed) their latest and greatest.

Early bird registration closes Friday, Sept. 11th - so if you're interested in attending and saving some money in the process, be sure to register ASAP!

Mobile Banking “Report Card” From ABI Research

mobilepayments-140px.jpgABI Research has published a mobile banking “report card” which assesses 29 banks on the discoverability and accessibility of their mobile banking services.

Senior analyst Mark Beccue says, “People are asking ‘Is mobile banking taking off in the US?’ For that to happen, two things are required: the services must be easy to find, and accessible to a broad range of consumers . So the ‘grades’ in this report card are not about subscriber numbers or any other measure of success, but about how consumer-friendly the banks’ offerings are.” READ MORE »

PULSE, TRIONIS Sign European ATM Acceptance Agreement

pulsenetwork_logo.pngPULSE, the Discover Financial Services business unit responsible for expanding global cash access for the company, has signed a long-term ATM acquiring agreement with TRIONIS, a European interbank processing network. TRIONIS is jointly owned by retail banks from nine European countries, the European Savings Banks Group, and First Data. READ MORE »

Google Planning Micropayments as part of Google Checkout

Google-checkout_logo-140px.jpgIn a blog post titled "Google Plans Tools to Help News Media Charge for Content", Miguel Helft writes for the New York Times that "Google is planning to roll out a system of micropayments within the next year and hopes that newspapers will use it as they look for new ways to charge users for their content."

Headline News - September 10, 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.

September 09, 2009

100,000,000 Accounts in Apple's iTunes

In today's Apple announcement, Steve Jobs said that Apple's iTunes now had over 100,000,000 accounts - each including payment card credentials and enabled for one click purchasing.

M-Com Supports Broadest Range of One and Two-Way SMS Alerts

International mobile banking solution provider, M-Com, announced today that it now has reached the milestone of 50 distinct one and two-way SMS (text messaging) alerts live in the market, the broadest range in the industry. M-Com has found that alert capabilities are increasingly in demand by consumers, as they provide relevant and timely information on account activity.  

 

“We are delighted to be leading the market when it comes to the breadth and range of one and two-way text message alerts being delivered to consumers by our financial institution customers,” comments M-Com CEO and Founder, Adam Clark.  “The research and M-Com’s proof points around the world demonstrate that the demand for such alerts is from both online consumers and those that have limited access to online banking channels.”

READ MORE »

Firms Help Pilot Open Identity for Open Government in US

Ten industry leaders — Yahoo!, PayPal, Google, Equifax, AOL, VeriSign, Acxiom, Citi, Privo and Wave Systems — have announced "they will support the first pilot programs designed for the American public to engage in open government — government that is transparent, participatory, and collaborative. This open identity initiative is a key step in President Obama's memorandum to make it easy for individuals to register and participate in government websites — without having to create new usernames and passwords. Additionally, members of the public will be able to fully control how much or how little personal information they share with the government at all times."

These companies will act as digital identity providers using OpenID and Information Card technologies. The pilot programs are being conducted by the Center for Information Technology (CIT), National Institutes of Health (NIH), U.S. Department of Health and Human Services (HHS), and related agencies. The participating companies are being certified under non-discriminatory open trust frameworks developed under collaboration between the OpenID Foundation (OIDF) and the Information Card Foundation (ICF) per the federal government Trust Framework Provider Adoption Process. READ MORE »

A Look at Debit Cards and Overdraft Fees

In an article titled "Overspending on Debit Cards Is a Boon for Banks" in today's New York Times, Ron Lieber and Andrew Martin write about the fees banks charge on debit card overdrafts - reporting that "this year alone, banks are expected to bring in $27 billion by covering overdrafts on checking accounts, typically on debit card purchases or checks that exceed a customer’s balance."

A Look at Mobile Money - M-PAISA in Afghanistan

On the GSMA's Mobile Money for the Unbanked blog, Paul Leishman interviews Zahir Khoja, Executive Director - Mobile Money (M-PAISA) about the launch of mobile money in Afghanistan.

World Payments Report 2009

Non-cash payment volumes continued to grow in 2008 after an increase of 8.6 percent globally in 2007 to 250 billion transactions, according to the World Payments Report 2009, released today by Capgemini, RBS and Efma. The use of cards continues to be the single strongest driver for this growth with llobal card transactions (credit and debit) growing 14.5% in 2007 and 11.2% in 2008. READ MORE »

September 08, 2009

US Consumers Really Ratchet Down Credit in July

The Federal Reserve is out with its latest G.19 Consumer Credit report for July 2009. According to the Fed, US consumer credit decreased at an annual rate of 10-1/2 percent in July 2009. Revolving credit decreased at an annual rate of 8 percent, and nonrevolving credit decreased at an annual rate of 11-3/4 percent.

Summer's Over - and the News is Slow!

There's a relative dearth of interesting payments-related news today. Obviously, the post-Labor Day announcement strategy is a thing of the past in the current economy! If you've got any interesting news to share, please send it to gotnews@paymentsnews.com!

Headline News - September 8, 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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