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The CNP Report Archive - May 2010

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Senate Names Conferees for Financial Reform - May 27, 2010
The U.S. Senate this week named 12 Senators who will comprise half of a conference panel that will attempt to resolve the differences between separate financial reform packages passed by the U.S. House and the Senate.

Symantec Acquires VeriSign’s Authentication Services Business for $1.28 Billion - May 27, 2010
Technology security company Symantec announced recently it has acquired VeriSign’s authentication services business for $1.28 billion. The product lines in the deal include...

Canadian Payment Card Industry Adopts Proposed Code of Conduct - May 27, 2010
Jim Flaherty, Canadian Minister of Finance, announced last week that all payment card networks, major credit and debit card issuers, and payment processors have adopted the Code of Conduct for the Credit and Debit Card Industry.

Ethoca Launches Anti-Fraud Measure for e-Tailers Accepting ACH Payments - May 27, 2010
Dublin-based Ethoca Limited announced it has released the Ethoca360 eCheck Fraud Solution enabling online retailers to safely accept direct electronic payments from customers’ checking accounts while preventing ACH fraud.

Wal-Mart Calls for EMV Standard in U.S. - May 27, 2010
While the U.S. remains a holdout among developed nations migrating to the EMV standard for card-based payments, the move toward Chip-and-PIN cards may have gotten a boost recently from the world’s largest retailer.

Google Launches YouTube Channel for CNP Merchants Using Google Checkout - May 25, 2010
Google has established an e-commerce YouTube channel to explain the chargeback resolution process to CNP merchants using the alternative online payment system Google Checkout.

PayPal Launch Online Payment Solutions in Malaysia - May 25, 2010
PayPal announced today that it has entered a strategic partnership with Maxis Berhad, the largest mobile operator in Malaysia. The two companies will offer online and mobile payment solutions to 12 million Maxis customers.

Merchant Groups Laud Senators for Tackling Swipe Fees - May 21, 2010
Late Thursday the U.S. Senate approved a sweeping financial services reform package by a vote of 59-39. The measure included an amendment introduced by Sen. Richard Durbin (D-Ill.) that would limit swipe fees on debit transactions. Despite intense lobbying from the financial services industry, President Obama said the goal of the legislation “is not to...

Q1 E-Commerce Sales Jump 14.3% - May 20, 2010
Retail e-commerce sales in the U.S. for Q1 2010 jumped 1.5 percent from the fourth quarter of 2009 and are more than 14 percent higher than during the same period a year ago, according to the Census Bureau of the Department of Commerce.

After Merchant Victory in Senate, Payments and Banking Industry Respond - May 20, 2010
After last week’s vote that added Sen. Richard Durbin’s amendment addressing swipe fees on debit cards to a financial services regulatory overhaul bill under consideration in the Senate, representatives of the banking and payments industries fired back.

Obopay Service Enables Debit Payment via Mobile Device - May 20, 2010
Mobile payments company Obopay announced recently it has launched a suite of mobile banking services that includes a product enabling small businesses or individuals to accept debit card or ACH payments via mobile phone, Website or email.

Australian Regulator Drops eBay Investigation as Company Expands Payment Options - May 20, 2010
The Australian Competition and Consumer Commission (ACCC), which had been investigating the Australian subsidiaries of eBay Inc. in connection with anti-competitive practices, dropped the probe after the company removed the requirement that sellers offer PayPal as a payment option.

BAMS to Offer VeriSign EV SSL - May 20, 2010
VeriSign, Inc. announced a partnership with Bank Associates Merchant Services (BAMS) whereby BAMS will now offer VeriSign’s Extended Validation (EV) Secure Sockets Layer (SSL) Certificates to online merchants.

Square Launches Mobile Payments for iPhone, iPad, Android - May 17, 2010
After making a big splash with its December Launch, Square said last week that it has made its mobile payment systemavailable for iPhone, iPad and Android devices, enabling small merchants, street vendors and eventually individuals to accept credit-card payments anywhere.

Durbin Amendment Passes; Retailers Rejoice - May 17, 2010
Merchant groups lauded Senators for passing an amendment to a massive financial services reform bill that addresses interchange fees assessed against purchases made with debit cards.

Amazon Payments Chooses Yodlee for Account Verification - May 17, 2010
Yodlee, Inc., a RedwoodCity, Calif.-based provider of personal financial management and payments solutions, recently announced that Amazon Payments, Inc., has implemented Yodlee's InstantAccountVerification technology into Amazon Payments.

Mobile Payments Expected to Nearly Quadruple in Four Years - May 13, 2010
The mobile payments market will grow from $170 billion in 2010 to nearly $630 billion in 2014, according to newly released estimates by U.K.-based Juniper Research. The research said that SMS based ticketing schemes and mobile shopping efforts have boosted m-payments markets in developed nations. In addition...

CNP Processor Wirecard Signs Acquiring Agreement with Diners Club - May 13, 2010
Wirecard Bank, a subsidiary of Munich-based financial services technology company Wirecard AG, announced it has entered into an agreement with Diners Club International, a business division of Discover Financial Services, to become a licensed acquirer for the credit cards Diners Club and Discover.

YESpay Brings EMV Card Acceptance to Canada - May 13, 2010
YESpay International Ltd, a global payments processor, said its EMBOSS card payment service has been certified with Chase Paymentech as the first fully hosted EMV Chip and PIN payment service in Canada.

Durbin Offers Interchange Amendment to Reform Package - May 10, 2010
On Friday, Sen. Dick Durbin (D-Ill.) fired the latest salvo in the interchange debate by introducing amendments to Wall Street reform legislation currently under consideration in the U.S. Senate.

NRF Urges Vt. Gov. to Sign Bill Allowing Discount for Cash Purchases - May 10, 2010
The National Retail Federation on behalf of merchants across the country last week asked Vermont Governor Jim Douglas to sign a bill passed in the state legislature that would eliminate some of the issues that have arisen as retailers battle the card networks and issuers on swipe fees.

Chamber Members Get eCommerce Help via Partnership - May 10, 2010
ChamberofCommerce.com has signed an exclusive online marketing partnership with Merchant Warehouse, an independent sales organization offering merchant account and credit card processing services. The partnership will provide more than one million...

MasterCard: Network Upgrades Mean Faster Authorization at POS - May 6, 2010
MasterCard Worldwide announced recently it has completed a worldwide upgraded of its global processing network that will result in faster authorization response times around the world. More efficient authorization will translate into an improved cardholder experience with merchants at the point of sale...

NACS Drive Nets 2 Million Signatures for Interchange Reform - May 6, 2010
A national trade group representing convenience stores across the country delivered 2 million consumer signatures asking Congress to put an end to unfair credit and debit card swipe fees.

RBI Extends CNP Directive to Cover IVR - May 6, 2010
The Reserve Bank of India extended the reach of a 2009 directive that made it mandatory for banks in the country to put in place additional authentication procedures based on information not visible on the cards for all online card not present (CNP) credit and debit card transactions except those made via IVR (automated telephone systems).

U.K. Payments Council, Accenture Launch Authentication Selection Tool - May 6, 2010
The U.K. Payments Council and Accenture, a global management consulting, technology services and outsourcing company, have launched a new modeling tool to help banks and businesses select authentication technologies for secure customer interactions online.

Ethoca Fraud Prevention Available to GB Group Customers - May 6, 2010
Ehoca Limited, a provider of card-not-present fraud detection services, announced a partnership with London-based identity management company, GB Group. Under the arrangement, Ethoca will make its new Ethoca360 Negative Signals service available to all GB Group customers

Visa Proposes Debit Interchange Deal with EC - May 3, 2010
Visa Europe and the European Commission (EC) announced an agreement to reduce interchange fees the card network charges on both domestic and cross-border debit transactions. The EC said it accepted a Visa proposal...

Alibaba.com to Accept PayPal Payments - May 3, 2010
Chinese e-commerce site operator Alibaba.com Ltd. said recently it will start offering PayPal, the online payment system owned by competitor eBay Inc., for use on its new wholesale site, AliExpress.

Fairfax Selects TNS for Online Payment - May 3, 2010
Fairfax Media, the Australian print and online media company, has selected Transaction Network Service to provide ecommerce payment solutions for its online subsidiary, Fairfax Digital, a network of online news, information and classified web

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