Payment Critical Component Of mCommerce
By 2003, 40 million people worldwide will use wireless financial services, according to Meridien Research, while Nokia names mobile banking as the top service demanded by wireless users. In 1999, Durl...
Food Retailer Seeks Banking License
ICA Kundkort, the card subsidiary of Swedish food retailer, ICA, which conducted a retail WAP trial with Ericsson, has applied for a banking license with a view to opening in-store banks. The applicat...
Visa Iceland to Implement Trintechs' ICS
Visa Iceland has signed an agreement to implement Trintech's dispute management software, called PayWare ICS. Visa Iceland - the sole processor of Visa transactions in that region - intends to stream...
Lack of e-Security Is 'Barrier' To eCommerce
Datamonitor sees the lack of online security as an "effective barrier" to eCommerce with over 50 per cent of firms worldwide spending 5 per cent or less of their IT budget on network security. In shor...
P-Cards Vehicle For 'Full B2B Transactions'
Businesses using purchase cards for e-procurement pay an average of USD 15 per transaction, against USD 91 for paper transactions, according to a survey by AICPA. Although the concept of p-cards origi...
Users Cool About Wireless Internet
There is no denying that the Mobile Internet is gaining in appeal, but according to a report by Accenture (formerly Anderson Consulting), very few consumers have "any compelling reason" to access the ...
Banks Moving Towards SIM-Based Payment
The recent move by Europay and SmartTrust to interface wireless PKI into 3D-SET reflects the evolution of SIM-based solutions in the mobile payment market. For example, the Movil Pago system from BBVA...
US Chip Players To Play 'Leapfrog' For Edge
Competitive fear is a key driver of the US smart card market, but observers interpret differences in current chip programs as tenuous moves by the players to gain a strategic edge over rivals. For exa...
BCG: Banks, Telcos Must Partner On Payments
Partnerships between banks and telcos are essential if both entities are to retain their place in the mobile payment value chain, according to the Boston Consulting Group. With payments giving telcos ...
Brokat: New Mobile Digital Signature Patent
eBusiness solutions provider Brokat announced today that it has been granted a patent in Germany for a new mobile digital signature process. The new technology is said to offer 'significant improvem...
Community Banks Risk Losing to Non-Banks
Community banks risk losing out to non-banking lenders such as AmEx, AT&T and Merrill Lynch, who are all targeting the SME market, the fastest growing segment of the US economy. With OCC figures showi...
EU Launches Fight Against CyberCrime
Credit card fraud in the EU grew by a staggering 50 per cent to 600 million euros ($553 million) in 2000, according to a report issued Monday by the European Commission. A 'large' proportion of that w...
Bank of America Online Banking Outages
For over three days last week, Bank of America had many frustrated customers as a result of sporadic outages on their online banking site. From Tuesday to Thursday the site was in accessible for some...
European Issuers Adopt Net for Credit Lines
Although the Web sites of US card issuers like American Express and NextCard set a benchmark for world issuers, two Spanish banks rank in the top three in the latest Lafferty Internet Ratings. Banco E...
Ericsson, IBM Join For Mobile Services
Two industry giants û Ericsson and IBM - have announced that they will be working together to enable financial institutions to offer next generation mobile Internet services. Their aim is to take 10%...
Latin 'Buyer Conversion Rates' Must Improve
Online auctions top the list for consumer activity in Latin America, with revenues of USD 192 million in 2000, while financial services scored USD 61.5 million, according to eMarketer. In Mexico, wher...
Mobile Phone Fraud Drives Visa Projections
Mobile phone fraud is a major driver of Visa EU's projections for card-not-present fraud in Europe, which rose by 138 per cent in the year to March 2000. For this reason, Europay predicts card-not-pre...
Smart Cards Help Merchants Trade Securely
Smart cards offer a solution for e-tailers and consumers concerned over the security of customer data stored in Web databases, since no account details are disclosed in a chip-based payment. Instead, ...
Star Tests Cert-Secured Debit Payments
According to James Van Dyke, of Jupiter Research, consumers want "a payment option that combines a recognizable brand with ease of use". The bank or payment provider meeting these needs "is probably t...
EU Card Firms, Interpol Join To Fight Fraud
Global fraud on Visa and MasterCard systems totaled USD 4 billion during