Recurring Payments Market Seen As New Niche
Card issuers and payment processors alike are targeting the recurring payments market, with MasterCard being the latest to promote the benefits of recurring payments to its merchants. US payment proce...
New York Cabs To Accept Card Payments By 2005
Cab drivers in New York City are to be mandated to accept credit card payments by November 1, 2005, in a move to bring New York in line with other US cities, such as Chicago, Dallas and Los Angeles. T...
London Police Using Thumbprints As EMV Stopgap
As a stopgap while the UK migrates to chip and PIN payments, police in the City of London are running a Thumbprint Scheme in which local retailers will be encouraged to ask customers making a check or...
GMAC Insurance Advises Of Potential Identity Theft
GMAC Insurance, a division of GMAC Financial Services, has advised 200,000 customers that their personal data may have been compromised after two laptop PCs were stolen from an employeeÆs car near Atl...
Tourist's Card Used For Spree In South Africa
A gang of card fraudsters operating in South Africa has been busted by police for using a counterfeited credit card to extract R 50,330 from the Visa account of an US citizen who visited the country e...
Merchants Using 'New' Debit Market To Cut Costs
While Visa is predicting debit to comprise 15 per cent of consumer payments in the US by 2007, up from 2 per cent in 1996, merchants are leveraging the changed landscape to reduce their payments costs...
Banks Opt To Reissue Cards After BJ's Breach
After the recent network security breach at BJÆs Wholesale Clubs, Pennsylvania State Employees Credit Union is to spend over USD 100,000 on reissuing 15,000 Visa cards and covering fraudulent purchase...
Cash Management Boosts Corporations' Efficiency
Web-based trading platforms with transaction reporting can help corporations seeking to contain costs to improve their cashflow processes, consolidate balances and optimize their cash management proce...
First National Bank Addresses Credit Card Fraud
South AfricaÆs First National Bank has reduced credit card fraud at its Card Fraud Investigation Business Unit by 40 per cent after using anti-fraud software to automatically monitor all card transact...
Prepaid Cards Find A Niche In The Travel Market
Around USD 250 million worth in travel-specific prepaid cards were sold during 2003, and card industry newsletter, The Nilson Report, predicts sales to increase by 50 per cent in 2004. Conversely, les...
Paper Checks Unlikely To Vanish After Check 21
From October 28, 2004, when the Check 21 Act comes into effect, US banks will be able to use check images in place of paper checks, but until 2006, only the larger banks are expected to use substitute...
McDonaldÆs To Double Card-Accepting Locations
Of McDonaldÆs 13,609 US restaurants, just 3,000 are equipped for card payments, but by end-2004, this number may rise to 8,000 after new alliances with the four major credit card schemes and the Star ...
Theft Of Card Receipts Affirms Need For Security
Over 180 credit card receipts were stolen from a Cricket Communications kiosk in the Boulevard Mall, Buffalo, New York State, by thieves who also took cash from a neighboring kiosk in the mall. The cr...
ACCA Warns UK Retailers Of Chip & PIN Deadline
With the UKÆs chip and PIN compliance deadline looming in nine monthsÆ time, the Association of Chartered Certified Accounts (ACCA) is warning that retailers need to comply, or face the risk of con-ar...
Japan's Retailers Taking To Edy E-Money System
Japanese convenience store chain, Don Quijote, is to facilitate payments with Sony CorpÆs smart card-based e-wallet, Edy, at all of its stores by September 2004 and will issue Edy-enabled credit cards...
Competition Growing In Chile's Credit Card Market
Competition in ChileÆs credit card market is intensifying, with state bank, Banco Estado, aiming to grow its base by 14 per cent to 160,000 in 2004, and the largest bank, Santander Santiago, seeking c...
NACHA Considers Fee For Exception Processing
National clearing house, NACHA may begin charging banks an exception processing fee for ACH payments that are returned for unauthorized reasons, so as to maintain the quality of its service. In view t...
Credit Card Fraud A Risk At Offshore Call Centers
US credit card firm, Capital One, has ended its call center operations in India after reports that local staff were misleading its customers with unauthorized offers of credit, free gifts and club mem...
A Quarter Of UK Purchases Will Be Online By 2009
By 2009, one-quarter of all retail purchases in the UK will be made online, versus one in 24 at present, according to the UK retailersÆ association, Interactive Media Retail Group. About Ç120 billion ...
Banks Take To Enterprise-Wide Risk Management
Wachovia has built what it terms a risk-management æenvironmentÆ to integrate its technology, processes, reconciling, integrity and controls, and is reaping the benefits in the form of transparency in...