Smart Unveils Mobile Phone-Based Remittances
Filipino wireless telco, Smart Communications, has launched a text-based overseas remittance service in an extension of its over-the-air prepaid recharge service. Overseas Pinoys can use the Smart Pad...
Chip And PIN Effecting Change In Payment Habits
UK grocery chain, The Co-Op, is piloting self-service checkouts in the Channel island of Jersey, after successfully deploying the technology on the UK mainland. On the basis that chip and PIN-secured ...
Bank Sees Profits In EDI Transaction Management
A major, unnamed US bank has become the sole positive pay provider to one of its clients by using a dedicated EDI solution to support the receipt and subsequent translation of 821 EDI files from the c...
MSU Cards Compromised At Local Restaurant
Michigan State University Federal Credit Union has advised about 2,000 of its Visa Check Card holders that their cards may have been compromised after a security incident at a local restaurant. New ca...
Ten Per Cent Of UK Card Purchases Made Online
Ten per cent of credit card purchases by UK consumers now occur online, up from just 2 per cent five years ago, and a five-fold increase since 1999, according to new figures from APACS. Payment of cre...
Prepaid Mobile Growth To Outdo Industry Growth
Prepaid wireless adoption is growing more quickly than the overall wireless market, according to recent research, at 15 to 20 per cent annually, and by 2007is expected to reach 12 per cent of the mark...
Kiosk Sales Of Gift Cards Extend Retailers' Reach
Kiosk sales of gift cards enable retailers to reach a wider audience for their product, while providing a convenient sales channel that is distinct from a retail point-of-sale. Retail tenants within a...
Self-Checkouts To Win Mass Acceptance By 2009
Sales of USD 128 billion were made at self-checkouts in the US in 2003, an 80 per cent increase on the previous year, according to IHL Consulting Group. Almost 30 per cent of US supermarkets operate s...
Mobile Ticketing To Spur mCommerce Growth
By 2009, global mobile commerce revenues will total USD 88 billion, Juniper Research predicts, with ring-tones and logos being the most popular application for phone-based purchasing activity. Ticket ...
POSA Helps Retailers Tap Prepaid Market Boom
Global wireless services will equal crude oil production in terms of value by 2007, according to the Prepaid Press, when subscriber revenues are tipped to reach USD 584 billion, up from USD 387 billio...
UCPM Using Trintech's ReconNET For Reporting
The University of Pittsburgh Medical Center (UPMC), a major health care provider in the US, is using TrintechÆs ReconNET system to automate the verification and reconciliation of its bank deposit and ...
MasterCard Predicts Solid Growth In LAC Region
MasterCard sees the Latin American/Caribbean region as having the best growth potential in the world for its business, given the low bank penetration, growing card culture and improving economies. The...
Most UK Shopping Malls Not Chip & PIN-Compliant
Just 28 per cent of UK shopping mall tenants and 31 per cent of retail park tenants have installed chip-and-PIN payment systems, according to the Annual Retail Tenants Survey from analysts King Sturge...
Prepaid Cards Allow Banks To Tap New Markets
Banks with a stored-value payments strategy are advised by Financial Insights to target the low-volume, high-value market, consisting of æopenÆ cards from the card associations, for instance, and whic...
Checking Account Fraud Will Grow Post-Check 21
With 10 billion electronic transactions cleared every year across the US payments system, the Federal Reserve has warned banks of an increase in unauthorized checking-account debits and fraud. The int...
Cash Is Most Pricey Consumer Payment Option
With card payments having overtaken cash and checks as a payment option in the US last year, analysts and governments in several world regions are evaluating the direct costs and benefit of plastic pa...
Card Fraudsters Now Targeting India's Major Cities
Credit card skimming devices have surfaced in the Indian cities of Bangalore and Pune, where the shift from imprinted credit card charge slips to POS terminals is forcing fraudsters to change their ha...
Discover To Upgrade Its Pseudo-Number Service
Discover Financial Services is about to launch a æthinÆ version of its single-use credit card number technology, although critics argue that such solutions are losing to the card associationsÆ 3D-Secu...
Banks Advised To Offer Micropayment Services
By 2009, the Internet- and mobile phone-based micropayments market in the US will grow at a 23 per cent CAGR, to USD 11.5 billion in revenues, up from USD 2 billion in 2003, according to TowerGroup. I...
Popularity Of Debit Cards Forces Banks To Adjust
Debit cards are growing as the most popular consumer payment option, and as such, banks and credit card issuers are having to adapt their strategies to the implications of this growth. At end-2003, Vi...