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- 2010 Online Retail Payments Update and Forecast: Shift in Consumer Payment Behavior – A Temporary Reaction or a New Reality?
This study found that credit cards fell from 44 percent of online total payments volume in 2009 to 40 percent in 2010. At the same time credit card transaction velocity (the average number of times that a card is used per month for online purchases) fell significantly. Debit cards increased their market share to 29 percent of total online purchase volume in 2010, though consumers are not solely replacing their credit card purchases with debit.Click here for more...
- Avoid Becoming A Statistic - May 2010
Credit card fraud has topped the £600m mark for the very first time, with the chip and pin feature fingered as one of the root causes. Despite desperate attempts by the powers that be, a UK card is stolen or fraudulently used once every seven seconds
- Blippy Users’ Credit Card Numbers Exposed in Google Search Results - April 23, 2010
Sharing your credit card and online purchases with friends on the web sounds risky and it is. We’ve just discovered that several credit card transactions shared on social networking site BlippyBlippy have been exposed — with full credit card numbers included — in GoogleGoogle search results.
- Byndl and Big Data
Seattle area startup BYNDL, Inc. is a mobile transaction services joint venture based on technology first developed in Estonia to enable commuters to pay for parking with their mobile devices. BYNDL’s vision, however, extends well beyond parking.
- Chicago Fed to Explore Online and Card Not Present Transaction Security
The Federal Reserve Bank of Chicago and the Secure Remote Payment Council said they will team up for an invitation-only event exploring fraud as it relates to card not present payments this September. The free event, which will be held at the Chicago Fed’s headquarters, will examine the security of Internet mobile payments, issues around using debit cards for remote payments and how merchants and banks can decrease the losses associated with them. In addition to sessions devoted to fraud mitigation and the future of e-commerce and m-commerce one session will be devoted entirely to the current state of CNP payments transactions.
- China to Become Largest Mobile Payments Market by 2013
Mobile Payments in China: Emergence of a Mega-Market examines the market size, market characteristics, major supply chains, vendors, technology and customer experience of mobile financial services in mainland China.
- CRE Secure Now Integrated Into Electronic Merchant Systems Gateway - July 2010
ATLANTA - CRE Secure, the industry's first cloud-based, secure payment solution for online merchants, announced today the successful integration of its PCI-compliant payment acceptance service into Electronic Merchant Systems' (EMS) product offering.
- Credit Card Processing – How to Avoid Fraud and Lower Chargeback Rates? - March 27, 2010
Credit card fraud is a serious problem that results
in significant loss to credit card companies and businesses that accept
- Different Types of Merchant Accounts and What Defines Them - May 2010
Within the payment processing industry, merchant accounts are
categorized according to how they collect their credit card information
and how they process their transactions.
- eCommera and PayPal partnership gets virtual tills ringing at House of Fraser - March 30, 2010
Ecommerce platform provider eCommera has joined forces with PayPal to offer integration of the popular consumer payment service with major retailers' current online payment methods. The first UK retailer to offer shoppers the PayPal option as a result of this partnership is House of Fraser.
- E-Commerce Platform Review: A Detailed Comparison of 11 Internet Payment Processing Solution Providers
Javelin reviewed leading online platform providers, identifying each platform’s key product features and examining each provider’s value proposition, market positioning and differentiation.Click here for more...
- Elavon Streamlines Merchant Acquiring Services Using Intellect(TM) GUB - March 2010
Polaris Software (POLS.BO), a leading Financial Technology company, announced that Elavon a wholly-owned subsidiary of U.S. Bancorp (NYSE: USB) and a leading global payments provider, has gone live on Intellect(TM) Global Universal Banking (GUB) - Business Process Studio. Elavon has streamlined the core business processes of merchant boarding, credit card acceptance, vouchers and chargeback processing to provide best of services for its 1 million and more merchant customers.
- Emerging Card Technology - May 2010
With an increasing trend in online shopping and transactions happening across the globe, there is an imperative need for a plastic card, which will be safe and secure to use.
- Ethoca360 eCheck Fraud Solution™ Helps Merchants Safely Accept Direct Electronic Payments From Checking Accounts; Prevents ACH Fraud - May 2010
Ethoca Limited, provider of Ethoca360 fraud detection services and the unique collaboration engine that powers the Global Fraud Alliance, has released Ethoca360 eCheck Fraud Solution, a service online retailers use to safely accept direct electronic payments from customers’ checking accounts while preventing Check21 and ACH fraud. Merchants can download a free eCheck Fraud Solution product sheet at http://www.ethoca.com/echeck-product-sheet/
- FAC and Ukash extend their partnership to better serve merchants in emerging markets - June 2010
This is a significant product release for FAC, providing a fully integrated and secure alternative payments solution enabling the service across both Card Present and Card Not Present networks
- Fraud Mythology in the Payment World
On September 26, 2011, the Federal Reserve Bank of Chicago and the Secure Remote Payment Council cosponsored an invitation-only symposium focused on security issues for remote payments. During this complimentary event, thought leaders from throughout the payments industry, law enforcement, academia and government convened to discuss issues related to Internet, mobile and card not present payments:
- Handy Merchant Glossary - May 2010
This is a list of definitions to help the reader understand terms as they are used in policy and procedures/best practices.
- How secure are mobile payments? - Aug. 2010
While mobile payment technologies offer a convenient way to pay for goods and services, consumers could be at risk of losing money when mistakes are made by merchants and processors or as a result of fraud, according to Consumers Union, the nonprofit publisher of Consumer Reports.
- How to Manage Chargebacks Resulting from Accepting Cards with Account Numbers on the Exception File - July 2010
While merchants must request authorization for all transactions that are above
their floor limit, they don’t have to do that for the ones below it. The floor
limit is zero for all card-not-present transactions which means that they must
always be authorized, regardless of the dollar amount.
- How Tokenization Affects PCI Compliance - May 2010
PCI compliance – the security measures mandated by the Payment Card Industry of any merchant stores, processes, or transmits sensitive credit card information. The PCI DSS (Data Security Standard) is a set of 12 requirements that merchants must adhere to, or risk some hefty fines and penalties.
- Implementing The Payment Card Industry Data Security Standard - May 2010
In order to protect the integrity of card-not-present transactions, such as online commerce, the five major credit card companies came together and created the Payment Card Industry Data Security Standard. As more and more stories about security breaches reach the public awareness, consumer confidence in electronic transactions is in danger of falling off significantly.
- iReel.com Reduces Horror Show of Fraudulent Credit Card Not Present Use with ThreatMetrix Fraud Network - March 27, 2010
ThreatMetrix™, a fast growing provider of fraud detection solutions that do not require personally identifiable information (PII), today announced that iReel.com, a leading provider of online movie rentals, is using ThreatMetrix to eliminate real-time fraudulent credit card not present use.
- Market Opportunities for Cash-Based Alternative Online Payments ‘Astonishing’
Spending Cash Online: Alternative Payment Channels for e-Commerce 2010 explores alternative online payment solutions in international markets that allow consumers to buy online and pay offline using cash.
- MasterCard Chargeback Reason Codes - July 2010
Each chargeback is identified by a code that specifies the reason why an issuer is disputing a transaction’s validity. Visa and MasterCard use different Reason Codes and often a code used by one of the Associations does not have an exact equivalent with the other. Visa’s Reason Codes are two-digit numbers, while MasterCard uses four-digit numbers...
- Merchant Risk Council: New Leadership Looks Outward
The Merchant Risk Council (MRC), which began 10 years ago as a group of merchants concerned about fraud in the burgeoning world of e-commerce, recently had one of its two major U.S.-based events in Chicago.
- NRF Releases Mobile Retailing Blueprint
The Mobile Retailing Blueprint—produced by the NRF with the assistance of GS1, NACHA, the NFC Forum, the Retail Solutions Providers Association and the SmartCard Alliance—examines the technology of how mobile devices can be used in marketing, m-commerce applications and remote mobile payment.
- Online Alternative Payments: A Merchant vs. Consumer Divide
Online merchant sales continue to be dominated by the credit card, but as the e‐commerce market and the volume of online sales grow, merchants are broadening the array of payment options they offer.
- Q&A with Ben Love, VP of Mobile Strategy, Vantiv
Love joined Vantiv in July of 2011 as vice president of mobile strategy. Prior to joining Vantiv, he worked for Visa after his previous company, CyberSource, was acquired by the card network. Before that Love worked for terminal manufacturer Ingenico. Love sat down recently with CardNotPresent.com founder and president Steven Casco to discuss the mobile payments landscape.
- Q&A with Davíð Guðjónsson, CEO, handpoint
handpoint is a UK based company that specializes in mobile payments, accepting MSR, EMV and NFC payments on smartphones and tablets. handpoint was founded in 1999 by three engineering students at the University of Iceland, Davíð Guðjónsson, Magnús Þór Torfason and Þórður Heiðar Þórarinsson. Prior to founding handpoint they had setup an internet company in 1997 along with classmates from high school, but sold in 1999. Recently, Guðjónsson sat down with CardNotPresent.com’s founder and president Steven Casco to talk about the origins of the smartphone, EMV mobile solutions and why NFC will take longer to reach widespread adoption then people think.
- Reform Extends to Debit Card Interchange Fees - May 2010
In its relentless effort to deprive big banks of as much profit as possible, Congress has now also ordered they shrink debit card interchange fees. These fees, paid by businesses as a percentage of each transaction when consumer swipes their card, are a multi-billion dollar boon for banks. Sen. Dick Durbin's (D-IL) amendment, which passed on Thursday, takes a strange sort of moderate approach to reforming these fees, however. As a result, it might satisfy no one.
- Small Daily Security Breaches Worse than Large High-Profile One
Another compromised data center is making headlines. Epsilon, a Dallas-based online marketing company, was the victim of a massive breach in early April. This time, it appears only email addresses were obtained. With luck, the worst those affected will experience is an increase in email marketing spam.
Could more be done to protect companies’ backend data centers? Yes, always. But it is worth asking if we should be spending more money to further lock down the back door to the data centers, especially when the "front door" phone transactions are banging in the breeze.
- Some Merchants Just Can’t Win – Refunds Vs Chargebacks - March 2010
Although many business owners use the terms, “return” and “chargeback”
interchangeably, they do not have the same meaning. A merchant return
is simply a means to repay a customer who decides not to keep a product
or retain a service. Often, when a return is initiated, a merchant may
credit the customer’s account on the same credit card that was used
initially at the time of the transaction. Store credit may also be an
option when a customer requests a return.
- The Costs of Credit Card Payments - May 2010
In today’s global economy, it is a rare case when a business does not accept some form of electronic payment. That said, there is often a hidden cost associated with e-payments, and for most small businesses, understanding the fees associated with accepting credit card payments is a lot like playing three-card Monte.
- The Future of Card-Not-Present Security - May 2010
Chip and PIN cards have introduced a higher level of security to our face-to-face transactions. The industry is now looking at ways of using chip’s security features in the card-not-present environment.
- TNS and Blue Bamboo Partner to Provide Smartphone Payment Solutions for Synapse Customers - March 2010
Transaction Network Services (NYSE: TNS) is partnering with Blue Bamboo to enable ISOs, acquirers and processors across North America to offer their customers the ability to accept credit and debit payments through smartphone devices.
- Understanding the Impact to CNP Merchants of Visa’s Fraud Chargeback Changes
This spring, Visa Inc. will be making some significant changes to fraud-related chargebacks. While some card not present (CNP) merchants may not be aware of the adjustments, others may be confused by added complexity or understand which of the new rules apply to them (e.g., none of these changes apply if the card issuer is located in Europe). For merchants that might have missed the announcement or are unsure what the changes mean, this article will provide some clarification.
For CNP merchants, these new changes only apply to fraud-related Visa chargeback reason code 83 – Fraud-Card Absent Environment.
Effective April 16, 2011 through Oct. 14, 2011 issuers will have two options for meeting the technical requirements to initiate any of the above fraud related chargebacks.
- Visa Chargeback Reason Codes and Time Limits - July 2010
Visa’s chargeback reasons are organized into six general groups...
- Visa Interchange Program Rates - July 2010
Click here to view the Visa Interchange Program Rate PDF
- Visa’s Interchange Program & Rate Schedule - Oct. 2010
Click here to view the Visa’s Interchange Program & Rate Schedule PDF
- Volaris Joins Growing Number of Airlines Using Accertify's Interceptas Platform - July 2010
HTML clipboardAccertify®, a leading provider of enterprise-wide
transaction risk screening solutions, today announced the signing of another
new airline customer. Volaris, Mexico's
most efficient low-cost airline, recently implemented Accertify's
Interceptas® platform to strengthen its defenses against fraudulent
bookings and ensure a high-quality experience for customers.
- Wells Fargo and Visa Rollout Rapid Alerts for Credit Cardholders - May 2010
Wells Fargoand Visa today announced the rollout of Rapid Alerts for Wells Fargo Visa credit cardholders. The free service allows consumers to better manage and track their spending while providing them with near real-time¹ detection of potentially fraudulent activity.
- What do I have to do to become PCI Compliant? - March 2010
Even if you know vaguely what PCI Compliance is, the “What” may still be a mystery. There are four Validation Levels of businesses that each require different security measures. Current Validation and Requirements are established for Visa/Mastercard in the following chart.
- Which Payment Platform Will Dominate Mobile? - March 30, 2010
A recent study found that consumers are getting more comfortable with mobile shopping, and you best believe that will only continue, as people continue to spend more of their web time on their phones. So as everybody reaches for their mobile devices to make payments, which platforms are they going to use?>>