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The CNP Report Archive - April 2011

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  • Visa Hosts Security Summit in Capitol - April 28, 2011
    Visa Inc. chief enterprise risk officer Ellen Richey opened the company’s fourth Global Security Summit in Washington, D.C. yesterday by applauding progress made in electronic payments security but warning that all stakeholders need to rapidly adopt "smarter" technologies and better application of risk-management intelligence. Despite progress, Richey highlighted several challenges ahead, including persistent and negative consumer perceptions about data security. She said 61 percent of consumers believe criminals are ahead of the payment industry when it comes to fraud.
  • PayPal Payment Volume Increases 28% - April 28, 2011
    Global ecommerce and online payments provider eBay Inc. reported first quarter net income on a GAAP basis of $475.9 million, a 12 percent increase from the same time a year ago. Revenue jumped 16 percent to $2.5 billion. The company’s PayPal unit grew active registered accounts 16 percent year over year, ending the first quarter with 97.7 million and adding approximately one million active accounts per month for the sixth consecutive quarter. PayPal said its Q1 net total payment volume grew 28 percent to $27.4 billion compared to the same period in 2010, driven primarily by 38 percent year-over-year growth in its Merchant Services business across global markets, increased merchant adoption and greater usage by customers.
  • PathwayLINK Integrates with Merchant e-Solutions - April 28, 2011
    TGate Payments said the integration of its PathwayLINK processing software with the Merchant e-Solutions platform was officially certified. The company said the certification enables merchants using PathwayLINK to process credit and debit transactions to Merchant e-Solutions host and take advantage of their integrated merchant account, online tools, and real time, web-based reporting for easy reconciliation.
  • Bongo Localizes International E-Commerce Transactions - April 28, 2011
    Bongo International, a Bridgeport, Conn. provider of e-commerce technology, recently launched Bongo Checkout—an international e-commerce fulfillment solution that allows U.S. online retailers access to foreign markets. “The concept of Bongo Checkout is simple; make international expansion seamless and secure,” said Gregory Unger, product manager for Bongo Checkout. “Payments are received by the merchant in U.S. dollars while Bongo takes on the inherent risk of international transactions. The only way to reap the benefits of expanding internationally is to just get out there and do it, and we remove the risk involved in making that shift.”
  • Durbin Giveth, Durbin Taketh Away - April 26, 2011
    Sen. Richard Durbin, who spearheaded the debit interchange amendment to the Dodd-Frank Act that bears his name, plans to introduce legislation in the Senate that will not be nearly as well-received by CNP merchants. While some experts have suggested CNP merchants will not benefit significantly from Durbin’s efforts to control interchange rates, retailers—CNP and brick-and-mortar alike—have been nearly unanimous in their support of Durbin’s legislation. Durbin’s newest plan, however, is to target e-commerce merchants that traditionally have not been required to collect sales tax for purchases made by consumers in locations in which the merchant did not have a physical presence.
  • Trustwave Prepares for IPO - April 26, 2011
    Trustwave Holdings Inc., a Chicago-based security compliance solutions provider, has filed for a proposed initial public offering of shares of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined. A registration statement relating to these securities has been filed with the SEC, but has not yet become effective, according to a Trustwave statement.
  • Olympics Fans Pay Cash for Tickets Online with Ukash, 3V - April 26, 2011
    Ukash and 3V Transaction Services, two European firms that enables consumers to use cash to make e-commerce payments, have partnered to provide such a service to U.K. consumers who want to buy tickets for the 2012 Olympic Games tickets online. The partnership combines Ukash’s extensive distribution with 3V’s Visa-issued vouchers (tickets for the games can only be purchased using Visa). Consumers who want to purchase Olympic tickets, but don’t have a Visa card to complete the CNP transaction, can purchase a Ukash voucher at any of its thousands of retail locations in the U.K. and convert it to a 3V Visa Number at 3V’s Website.
  • PayPal to Integrate Where.Com App Post-Acquisition - April 21, 2011
    eBay Inc. has acquired location-based media company Where.com and it will operate as part of the e-commerce giant’s PayPal division. The terms of the acquisition were not officially disclosed, but unconfirmed published reports suggest the deal was worth $135 million. Where.com is a “hyper-local” advertising network that also offers a mobile app that enables consumers to find personalized deals and local recommendations.
  • Acculynk Integrates PIN Debit Solution with JetPay - April 21, 2011
    JetPay, LLC, a Dallas-based payments processing software provider recently announced it has integrated Acculynk’s PaySecure service for secure PIN debit transactions into its platform. PaySecure enables consumers to enter their PIN in a graphical interface while making Internet purchases.
  • WorldPay Launches Mobile Payments Solution - April 21, 2011
    WorldPay recently announced a partnership that will enable the U.K.-based processor to process any type of mobile payment, including remote and online payments. The company launched a mobile payment reseller program based on CellPoint Mobile’s mPoint mobile payment solution. Via the agreement, WorldPay said it will tailor its offering specifically for the retail and transportation industries.
  • Researchers Exploit Flaws in PayPal, Others to Avoid Payment Online - April 18, 2011
    Researchers from Indiana University and Microsoft recently released a report detailing "logic flaws" that can afflict Web merchants that use third-party payment services like PayPal, Amazon Payments and Google Checkout. How to Shop for Free Online: Security Analysis of Cashier-as-a-Service Based Web Stores details flaws that can create inconsistencies when the merchant, the third party and the Web client controlled by the consumer are communicating.
  • ReD to Provide Anti-Fraud Program in Japan - April 18, 2011
    London-based anti-fraud services provider Retail Decisions (ReD) recently signed an agreement with Tenso, a company that enables overseas customers to buy from Japanese online stores. According to the agreement, ReD, in collaboration with its Japanese partner NDS, will now be used to screen all online sales through Tenso.com
  • AisleBuyer Adds Card Capture - April 18, 2011
    Mobile commerce solutions provider AisleBuyer LLC has added card capture technology to its product line that it said will enable retailers to reduce barriers to sales and improve the in-store shopping experience for customers. The technology enables consumers to scan the details of a credit card into a smartphone using the device’s camera and use the phone to make purchases online and in-store using their AisleBuyer account.
  • Amex Sinks $19 Million in Mobile Payments Processor - April 14, 2011
    American Express has thrown its hat into the mobile space with a $19 million investment in mobile payments processor Payfone. The companies, both based in New York City, will partner to create and power a new global mobile checkout service that will enable consumers to pay for e-commerce transactions using their cell phone number.
  • TNS Rebrands E-Commerce Platform - April 14, 2011
    U.K.-based Transaction Network Services (TNS) has incorporated a series of new features into its TNSPay payment management platform for e-commerce merchants to improve security, combat fraud, and ease their PCI compliance efforts. The company said it has rebranded the platform as TNSPay for eCommerce.
  • Visa Europe to Invest €100 Million Annually in Mobile and E-Commerce - April 11, 2011
    A Visa Europe executive said recently the company expects to spend €100 million a year on mobile and e-commerce payments ventures and infrastructure. Visa Europe CEO Peter Ayliffe noted that the company has invested €1 billion building its network in Europe since its formation in 2004 and plans to direct much of its future spending toward new payments technologies.
  • ECB Calls for Extended Timetable for SEPA - April 11, 2011
    The European Central Bank (ECB) recently urged the European Commission (EC) to delay concrete end-dates for the implementation of new payment instruments under the Single Euro Payments Area (SEPA) project. In December, the European Commission proposed the banking industry move to new EU-wide credit transfers and direct debits by the end of 2012. The ECB, which had initially been calling for a yearend 2012 date for credit transfers and a shift to direct debits the following year, has reiterated its call for an extended timetable in its formal response to the European Commission's December paper.
  • eWise Moves Corporate HQ to U.S. - April 11, 2011
    eWise, a company that developed an online payment method that steers consumers to their online banking site to pay for e-commerce transactions, has moved its corporate headquarters from Sydney, Australia to Denver, Colo. and has incorporated in the United States under the name eWise Group, Inc. The company said the move is significant because it brings a real-time, secure and simple financial solutions to U.S. banking institutions and their customers.
  • Bernanke: Fed Won’t Meet Deadline for Debit Interchange Rule - April 7, 2011
    In a letter sent recently to the House Financial Services and Senate Banking Committees, Federal Reserve Chairman Ben Bernanke said the Fed would be unable to meet the April 21 deadline to formulate the final rule implementing debit interchange regulation. Bernanke said the deluge of public comments—more than 11,000 of them—in response to the Fed’s December proposal has forced the delay. “The issues raised by the comments are complex and difficult and are significant to the payments system, its providers and its users,” he wrote. “We are reviewing these comments and the issues they raise very carefully within the framework established by the Act.”
  • One-Fifth of U.K. Online Shoppers Affected by Fraud - April 7, 2011
    Twenty-one percent of adults in the U.K. who have made a purchase online have been a victim of online fraud, according to a study commissioned by online payment solution provider eWise payo. The research also showed that 88 percent of online shoppers have either been the victim of online fraud or are worried that it will happen to them in the future. More than two thirds (69 percent) agreed with the statement: ‘I am concerned about security when paying for goods/services online.’
  • Digital River Awarded Patent for Online Payment Fraud Technology - April 4, 2011
    Digital River, Inc., a Minneapolis-based e-commerce solutions provider, said it has secured a patent for fraud detection technology “specifically for purchase order transactions processed by online stores.” Digital River said patent No. 7,881,972, entitled Electronic Commerce System and Method for Detecting Fraud, joins other patented technology in its Transaction Defender service, which is capable of linking risks from independent data gathered from global online transactions for digital and physical product purchases.
  • Open Payments Platform Integrates Retail Decisions’ Anti-Fraud Technology - April 4, 2011
    New York City-based IP Commerce, an open payments platform, recently signed an agreement with fraud prevention company Retail Decisions (ReD) to offer its merchants ReD’s ReD Shield technology. IP Commerce said its open payments platform, with the integration of Retail Decisions’ technology, enables software companies, developers and their merchants to combine payment transaction services with “real-time, all-the-time” fraud prevention.
  • OmniPark Enables Remote Payment for Parking via iPhone - April 4, 2011
    A Spokane, Wash.-based company specializing in parking management products and services has launched an application by which consumers can pay for parking using their mobile device. OmniPark recently released the app CallToPark Pay by Phone Parking for the iPhone with an Android version on the way.

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