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November 26, 2012

New Visa Consumer Authentication Service Combats eCommerce Fraud

Visa logo 60pxhVisa announced a new solution in its information products line up to help issuers reduce the risk of eCommerce fraud using real-time, risk-based transaction analysis.

Visa Consumer Authentication Service authenticates the consumer prior to the authorization process, adding a powerful layer of protection against fraud. As the consumer begins the online checkout process, the solution performs a real-time risk assessment of the transaction based on numerous inputs including device and transaction information and historical spending patterns. The result is that issuers can complete lower-risk eCommerce transactions without requiring consumers to go through the extra step of entering their passwords or other verification. The solution minimizes disruption and abandonment at the point of purchase, while also helping issuers and merchants reduce fraud losses.

The Visa Consumer Authentication Service supports Verified by Visa and is available in all Visa Inc. markets immediately.

Vindicia Bridges Physical and Digital Economies for Online Retailers

Vindicia logo 140pxVindicia has introduced a new capability that allows online merchants to sell access to online content via Vindicia's in store displays at physical retail locations.

"By providing online merchants a way to sell their virtual goods and subscription services at retail locations, we've given them access to a massive customer buying platform," said Gene Hoffman, Chairman and CEO of Vindicia. "Whether an impulse buy, a seasonal shopper or savvy consumer, we're able to increase the value of a traditional retailer by expanding offerings. For the retailer with a loyal customer base, this is done with zero inventory overhead and wide margins and profits."

This new capability allows retail stores to sell digital content subscriptions via on-premise end cap systems, checkout lanes or self-checkout.

New Boston Fed Report on Mobile Payments Technology

Boston fed logo 140pxThe Federal Reserve Bank of Boston has released a new report entitled, "Mobile Phone Technology: 'Smarter' Than We Thought".

This report examines in detail how near field communication (NFC) and cloud technologies address security for mobile payments at the retail point-of-sale (POS). It also provides a brief overview of security for two other mobile technology platforms, QR code, and direct carrier billing (DCB). Each technology manages and processes information uniquely; hence security practices and issues will vary with the technology deployed by each payments platform provider.

The full report is available here.

BlackBerry App World Expands Integrated Carrier Billing To 50 Carriers

Rim logo 140x60pxRIM has announced that more than 50 carriers have now implemented integrated carrier billing on the BlackBerry App World storefront for their customers.

Integrated carrier billing enables a customer to purchase apps or digital goods on their BlackBerry smartphone, and simply and conveniently have the purchases put directly on their regular monthly bill from their carrier. Integrated carrier billing is also integrated with the BlackBerry Payment Service, which enables developers and content providers to offer in-app purchases (such as additional levels in a game), as well as supporting one-off and recurring (subscription-based) purchases, without interrupting the customer's app experience.

Bango is the bill-to-mobile payment platform behind the new BlackBerry App World features.

WEX Partners with Higher One to Launch VendorPay for Higher Education

Wex logo 140x60pxWEX announced it has partnered with Higher One to launch VendorPay, a customized virtual payment solution for higher education institutions.

“As the pioneer in developing a virtual payment solution more than 10 years ago, we are continually looking for ways to bring our technology solutions to markets where there is a real need, like higher education,” said Jim Pratt, vice president of corporate payment solutions at WEX. “Higher One’s deep knowledge and experience in delivering efficiencies and cost savings to universities and colleges across the country makes it the ideal partner to offer the new VendorPay service.”

MasterCard and FiftyOne Partner on Merchant Offers for Global Cardholders

MasterCard logo 140px MasterCard and FiftyOne Global Ecommerce have announced a partnership that will provide exclusive online shopping offers from top U.S. merchants to MasterCard cardholders outside the United States.

“Fueled by growing emerging economies, broadband penetration and access to information, consumers all over the world have developed a ‘global mindset’ with vast brand recognition and a desire to buy these brands, whenever and wherever,” said Geoff Iddison, Group Executive, Global E-commerce at MasterCard. “MasterCard recognizes this trend, and is working with customers and partners like FiftyOne to provide cardholders an enhanced global shopping experience that is a safe, simple and frictionless.”

The promotion will run from November 22 to December 10, and is available to MasterCard cardholders in 14 markets.

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