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September 13, 2011

Blackhawk Network Expands REloadit Network

BlackhawkNetwork logo 140pxBlackhawk Network has announced five new companies that have joined Blackhawk's REloadit Network –– AccountNow, Galileo, NetSpend, Precash and Ready Credit.

"This impressive line-up of new partners expands Blackhawk Network's services to more prepaid debit cardholders than ever before," says Talbott Roche, President, Blackhawk Network. "We look forward to continuing to enhance our REloadit Network through valuable partnerships and giving consumers the choice and flexibility they deserve in managing their finances."

Openbucks Launches the Gift Card Payment Network

Openbucks logo 140x60pxOpenbucks has announced the launch of its Gift Card Payment Network which lets consumers use gift cards from trusted retail brands as payment at online sites.

"We've created Openbucks to provide consumers with a simple and safe way to pay online – similar to cash in the brick-and-mortar world," said Marc Rochman, CEO and founder of Openbucks. "Twenty-five percent of U.S. households and most U.S. teens have no or very limited access to credit cards, and many consumers are leery of giving out financial information. We're aiming to give these people a frictionless way to purchase online."

LexisNexis Releases 3rd Annual 'True Cost of Fraud' Study

LexisNexis logo 140pxAccording to a new study released by LexisNexis Risk Solutions, for every $100 in fraudulent transactions, retailers surprisingly incurred a 'true' cost of $230.

According to the study, retail merchants and financial institutions reported an overall decline in fraud rates and transactions while total retail sales rose. However, the research suggests that this is not the time to lose focus on fraud mitigation, as fraudsters’ techniques continue to evolve as retailers enter new markets through international and mobile channels. Consumers also experienced a decline in fraud losses overall but the average time it took to resolve fraud issues rose by 57% and the out-of-pocket costs of fraud rose by $244.

hyperWALLET Launches Low-Cost Online Merchant Payment Service

Hyperwallet logo 140pxhyperWALLET has announced the availability of its new low-cost online merchant payment processing service. "hyperWALLET’s 'Direct Pay' online merchant payment option provides a secure, cost-effective complement to card payments by enabling customers to pay for products using funds from their bank account, an online e-wallet, or combination of both."

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