Visa Promoting Card-Based E-Procurement In LAC
Visa International expects to achieve commercial card sales of over USD 1.8 billion in its Latin American and Caribbean market by end-2003, given the increased business use of credit cards in the regi...
JCB Testing Phone-Based Biometric Payments
JapanÆs largest credit card issuer, JCB Co, is running a pilot in which customers will be able to access their accounts via mobile phones and fingerprint biometrics. The test is being run in the ôexpe...
ATM Fraud In UK Rose Dramatically In Past Year
ATM card fraudsters stole over GBP 8,200 in what was the first ATM fraud case in Britain involving pin-hole cameras to go to court, before being busted by City of London police in July of this year. T...
Latinos Are Wells Fargo's Fastest-Growing Market
The number of accounts opened at Wells Fargo by customers with MexicoÆs matricula consular card has risen seven-fold to more than a quarter-million, in the two years since the bank started accepting t...
Bistro Owner Cheats 800 Patrons Of USD 125,000
A restaurant payment system that required just a credit card number and expiry date to initiate payments, enabled the owner to defraud customers by over SGD 213,000 worth in bogus transactions. Betwee...
Financial Industry Setting Up Identity Theft Center
From May 2004, US consumers affected by identity theft will be able to notify banks, credit card and law enforcement firms with one phone call through a new bank-sponsored Identity Theft Assistance Ce...
Japan's Credit Card Fraud Hits 'Worst-Ever' Levels
JapanÆs losses to credit card fraud in January to March 2003 totaled 4.7 billion yen, versus the 16.5 billion yen recorded for all of 2002, according to the Japan Consumer Credit Industry Association....
Enhanced Payments Can Tip Balance Toward EMV
Card issuers can, ôfor every USD 100 spent on introducing EMV, paying an additional USD 2 to 3 dollars, add enhanced payments to the fraud reduction propositionö, Electronic Payments International rep...
Fed Predicts Checks To Drop 9 Per Cent In 2004
Checks processed by the US Federal Reserve Board will drop 4.8 per cent this year, when e-payments will outnumber check payments for the first time, and another 9 per cent in 2004, according to the Fe...
Merchants Gain 'Fresh' Revenues From Prepaid
North America now has over 109.5 million mobile phone subscribers, out of a global total of 131 million, and almost 19 million prepaid mobile phone users who roam the country, according to the Pelorus...
Debit Fraud Is 'A Problem Banks Don't Talk About'
ATM fraud in the US totaled USD 2 billion in 2002, but the Canadian Banking Association lacks comparable statistics, even with increasing ATM fraud at drive-thrus and grocery stores across the contine...
Japan Seen As Visa Asia-Pacific's Main Challenge
Japan is Visa International Asia PacificÆs ônumber one geographic challenge and opportunityö in the region, as just 2.9 per cent of its personal consumption expenditure (PCE) is spent on Visa cards, a...
Napster Looks To Prepaid Card To Bypass Fees
Online music retailer, Napster, is launching prepaid cards to allow users, especially teenagers, to download songs from its site without needing to use a credit card. The cards will be available from ...
Automated Funds Transfers Help Firms Cut Costs
Financial automation is central to fiscal cost containment in financial supply chains as businesses seek to improve their cash flow and credit lines by accessing real-time data and electronic record o...
SiNSYS Eyeing Cross-Border Expansion In Europe
SiNSYS, the joint processing venture of Banksys (Belgium), Interpay (the Netherlands) and SSB (ItalyÆs Societa per i Servizi Bancari) is now priming its technology to target cross-border expansion in ...
Banks Need To Improve E-Payments Ecosystem
SMEs tend to resist e-payments programs, argues Tarek Anwar, of Bank of America Global Treasury Services, as they "see no advantages in [such programs], particularly if that means investing in new pay...
ATM Fraud 'Far More Profitable Than POS Fraud'
With chip & PIN, criminals may "move away from POS fraud to attack bank accounts and ATMs", writes Martin Hewgill, of ACI Worldwide, as "it is far more profitable to steal from an ATM than from a merc...
Visa USA To Focus On New IT Projects In 2004-05
Visa USA will allocate most of its 2004-05 budget to new IT projects, and less to ongoing projects, in contrast to previous years, so as to accommodate emerging payments initiatives and methods. Incre...
Marks & Spencer Is Almost Ready For Chip & PIN
UK retailer, Marks & Spencer, is almost ready to accept chip & PIN payments at all its stores, and is one of the first firms to issue large volumes of chip cards after launching its EMV-based &More in...
HSBC Malta Addressing Illicit ATM Withdrawals
Banks in Malta are investigating the use of fraudulent debit cards to withdraw cash from ATMs operated by HSBC, but are uncertain as to how the criminals obtained the actual card data and PINs. HSBC d...