Advertisement

The CNP Report Archive - December 2010

Read the news below & Sign Up for the Newsletter

  • PayPal to Develop E-Commerce Hub in SW China - Dec. 30, 2010
    Paypal and the government of Chongqing said in a statement that they have signed a deal to jointly develop a foreign exchange settlement platform in the mega-city to enable users to pay for cross-border online shopping transactions. They also agreed to set up five international e-commerce centers over the next few months for verification, investment promotion, national telesales, merchant training and regional business development.
  • Online Sales Surge during Holiday Season - Dec. 28, 2010
    SpendingPulse, an examination of aggregate sales activity in the MasterCard payments network, reported that e-commerce spending was up significantly this holiday season. For the full 2010 holiday shopping season (Oct. 31 to Dec. 24) consumer spending online grew 15.4 percent from last year to $36.4 billion. “Today e-commerce accounts for a much larger share of overall retail sales compared to a few years ago. And during this holiday season, it registered double digit growth for 6 out of 7 weeks,” said Michael McNamara, vice president for MasterCard Advisors SpendingPulse.
  • Report: PayPal Transcends 'Niche' Status - Dec. 28, 2010
    A New York-based consulting firm found that 76 percent of American consumers have an active PayPal account, up from 55 percent two years ago. Auriemma Consulting Group (AGC) said the numbers indicate PayPal has completely eclipsed its humble niche as a way to pay for eBay transactions to become a mainstream payment product for U.S. consumers.
  • U.K. Online Holiday Sales to Surge, Merchant Systems Could Struggle - Dec. 22, 2010
    Chase Paymentech Europe Limited, the European division of New Hampshire-based online transaction processor Chase Paymentech, predicts record breaking online sales during the holiday season in the U.K., but predicts significant downtime for merchant e-commerce systems. Independent research conducted for Chase Paymentech by Dynamic Markets found U.K. consumers will spend £11.5 billion ($17.8 billion) this Christmas—up nearly 30 percent from a year ago.
  • Shopify Nets $7 Million Investment - Dec. 22, 2010
    Shopify, an Ottawa, Canada-based e-commerce storefront provider, announced this week it has secured $7 million in Series A funding from Bessemer Venture Partners, FirstMark Capital and Felicis Ventures. Shopify said it will use the proceeds for product development and international expansion.
  • DateBid Exclusively Accepting Facebook Credits for Payment - Dec. 22, 2010
    DateBid, a webcam auction-style dating game on Facebook, recently announced this week that it now exclusively accepts Facebook Credits for the purchase of its in-game currency, DateBid dollars. DateBid Limited, the game's parent organization, has agreed with Facebook that it will make the virtual currency the primary method of payment for the social networking game.
  • Fed Proposes to Cap Debit Interchange - Dec. 20, 2010
    The Federal Reserve Board on Thursday delivered news the merchant community had been working toward for years. The Fed delivered a proposal that would establish debit card interchange fee standards and prohibit network exclusivity arrangements and routing restrictions. The Fed said it is requesting comment on two alternative interchange fee standards: one based on each issuer's costs, with a safe harbor (initially set at 7 cents per transaction) and a cap (initially set at 12 cents per transaction); and the other a stand-alone $.12 per transaction cap.
  • Report - Debit Creeps Up on Credit for Online Transactions - Dec. 20, 2010
    The economic downturn has not dampened consumer online spending, but it is changing how consumers pay for their purchases, according to a new report from Javelin Strategy & Research. While credit cards are still the most popular way to pay online, Javelin’s 2010 Online Retail Payments Update and Forecast: Shift in Consumer Payment Behavior – A Temporary Reaction or a New Reality? found that credit cards fell from 44 percent of online total payments volume in 2009 to 40 percent in 2010.
  • TNS Provides Gateway for Australian Online Mall - Dec. 16, 2010
    Transaction Network Services (TNS), a U.S.-based data communications and interoperability solutions provider, announced it has partnered with Australian mall operator Westfield to support a recently launched online mall with its TNSPay gateway solution. Westfield’s online mall, launched in November, uses TNS’ payments technology to offer the shopping center’s merchants access to a secure e-commerce service for end-to-end payment processing, authorization and settlement of card transactions.
  • USDT, SignatureLink Calls Hybrid Payment Type 'Game-Changer' - Dec. 16, 2010
    US Digital Transactions Corporation (USDT) recently announced a partnership with SignatureLink, Inc. that will create a new form of payment transaction for online retailers. The new e-commerce hybrid payment type is a signature-based CNP transaction with promise to pay. The new patent-pending payment type, called CNPS, will easily integrate with all existing PCI-compliant e-commerce applications and payment gateways.
  • CDS Global announces enhanced Web Stores - Dec. 13, 2010
    CDS Global, an Iowa-based business solutions provider, recently announced it has launched an enhanced Web Store solution. The Des Moines company said its e-commerce solution suite allows for easy cross-promotion and up-selling, reduction in cart abandonment, increased site traffic, and an improved overall user experience.
  • Voltage SecureData Open License Program Continues Growth - Dec. 13, 2010
    Voltage Security, an enterprise data protection company based in Palo Alto, Calif., announced it has expanded its Voltage SecureData Open License Program with point-of-sale (POS) vendor integrations of its industry-leading end-to-end encryption solution. The Voltage program enables participants to protect payment card data across a wide range of channels including e-commerce platforms.
  • Hackers Target MasterCard, Visa - Dec. 9, 2010
    A terse MasterCard statement hit newswires early Wednesday morning saying “heavy traffic” had affected its corporate Website and that the company was “working to restore normal speed of service.” It became apparent later in the day and was reported via multiple sources that the site had been taken down by a coordinated attack at the hands of hackers worldwide in response to the arrest order executed in Sweden against WikiLeaks founder Julian Assange.
  • Online Holiday Spending Surges - Dec. 9, 2010
    The most recent results from the Chase Paymentech Cyber Holiday Pulse Index found that e-commerce transactions in the five-day period beginning on Black Friday rose 37 percent from the year before.
  • EU to Accept Visa Europe Offer on Debit Interchange Cut - Dec. 6, 2010
    Reports out of Brussels indicate that eurozone regulators are prepared to accept Visa Europe's offer to cut interchange fees on its debit cards. If the European Commission accepts the deal as expected next month, it will abandon antitrust proceedings that could result in a fine to the payments network, according to reports.
  • Report - European E-Commerce Fraud Down Slightly - Dec. 6, 2010
    The number of fraud attempts online in Europe has declined slightly in the past year, according to a report by Cologne, Germany-based Deutsche Card Services. The company’s E-Commerce Report 2010 said chargebacks on credit card transactions—still the most popular e-commerce payment method in Europe—fell slightly.
  • G&D Launches Display Cards for Online Payments - Dec. 6, 2010
    Munich, Germany-based payment card manufacturer Giesecke & Devrient (G&D) recently announced it has introduced two new display card models that make online banking and online payments more secure. Both card products generate one-time passwords for online applications at the touch of a button, with the passwords appearing on a flexible display embedded within the card.
  • Southern Universities Accept Tuition Online via SVP - Dec. 6, 2010
    eWise, an online payments provider, said online acceptance of tuition payments by American universities via Secure Vault Payments (SVP) is gaining momentum. Auburn University and Columbus State University have joined the University of Georgia in giving their students the option to pay tuition online using ACH transactions.
  • PayNearMe Facilitates Cash Payments for E-Commerce via Mobile - Dec. 2, 2010
    PayNearMe, a Mountain View, Calif.-based service that enables cash payments for Internet purchases, recently announced a mobile option. Using only their mobile phones and a PayNearMe Card they can get for free at 7-Eleven, consumers can complete transactions with a list of payees that includes Amazon.com and Facebook.
  • Javelin Looks at E-Commerce Payment Providers - Dec. 2, 2010
    California-based payments consultancy Javelin Strategy & Research issued a report yesterday that examines several e-commerce payment providers. In 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.

Search our NEWS Section here:
 
FD