In an article titled "The Future of Money: It’s Flexible, Frictionless and (Almost) Free", Daniel Roth writes for Wired.com about the world of electronic payments...

Moving money, once a function managed only by the biggest companies in the world, is now a feature available to any code jockey. Ivey is just one of hundreds of engineers and entrepreneurs who are attacking the payment ecosystem, seeking out ways small and large to tear down the stronghold the banks and credit card companies have built."

Wired Magazine has published an article titled "From Credit Card to PayPal: 3 Ways to Move Money" that graphically depicts the payments process for a) credit cards, b) iTunes and c) PayPal. Can you guess who's most "frictionless" - according to Wired?

The Federal Reserve has provided a new online Federal Reserve Board publication titled What You Need to Know: New Overdraft Rules for Debit and ATM Cards intended to help consumers better understand rules that provide additional protection when a debit card or automated teller machine (ATM) transaction causes an account to be overdrawn. READ MORE »

CyberSource reports that its 11th annual Online Fraud Report shows that among U.S./Canadian merchants accepting international orders, 21% of their online orders came from abroad, up from 17% the year before and 8% in 2005. According to the company, "this steady growth is supported by dramatic progress in meeting the increased fraud challenge of international orders, with 50% lower fraud rates and 30% lower order rejection rates." READ MORE »

Acculynk has announced an Internet PIN Debit Advisory Council to "establish the processes, procedures, rules and best practices around PaySecure for Internet PIN debit." The company says that the PIN debit networks ACCEL/Exchange, Alaska Option, Credit Union 24, PULSE and SHAZAM are participating in the Council. READ MORE »

Visa has announced that Bill Gajda, currently Chief Commercial Officer at the GSMA, will join Visa as head of mobile. Visa said that Gajda’s position "is designed to further advance Visa’s mobile strategy, working in collaboration with the wireless and financial services industries to bring mobile payments and related services to consumers around the globe." READ MORE »

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