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The CNP Report Archive - May 2011

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  • AisleBuyer Combines Mobile Checkout and Online Purchases - May 31, 2011
    AisleBuyer LLC, a Boston-based company that offers mobile self-checkout in retail locations using CNP transactions, now offers a full multi-channel checkout solution to retailers. The company said that for the first time ever, shoppers can use a single application for both in-store mobile self-checkout and mobile ordering of items for home delivery. Customers can scan barcodes, read product information and reviews, receive tailored discounts and check out without ever waiting in line, and can also purchase products online as part of a single transaction from one application.
  • Security Firm Touts Twitter to Fight Fraud - May 31, 2011
    Security company IronKey, noting that phishing attacks are corroding trust in email, points to an Australian bank’s recent use of Twitter as an appropriate channel to notify customers of fraud threats. IronKey says banks could learn from Australia's WestPac, which last week sent a tweet to its 5,000 followers to warn them about a fraudulent e-mail that had been making the rounds.
  • Ball Club Courts young Fans for E-Commerce Site - May 31, 2011
    Moggle Inc., an online payment processor specializing in secure transactions between the youth market and online merchants, said the Camden Riversharks, a minor league baseball team in Camden, N.J. has adopted the Virtual Piggy payment platform for its e-commerce fan site. Virtual Piggy is an online payment tool that enables children to initiate transactions with Internet retail merchants, online games and social networks in a safe environment under parental supervision.
  • M2 Obtains Patent for One-Time Security Code Technology - May 26, 2011
    Muscato Group, Inc., a Maitland, Fla.-based processor that operates as M2, has secured a U.S. patent for a single-transaction security code technology for credit and debit cards. The company said Secure Access for E-Commerce (SAFE) enables a cardholder to generate a unique, one-time use card security code for card-not-present transactions.
  • mopay Releases Latest Mobile Payments Platform - May 26, 2011
    mopay, a payment solutions provider for online merchants, recently released its next-generation mobile payments platform. The company said merchants can run mopay on virtually every Internet-connected device and across most operating systems including Android, Samsung’s bada, iOS and Windows Phone 7. mopay also said it added third-party solutions to support every payment scenario from stationary Internet purchases and mobile Internet shopping to in-app billing on virtually all platforms.
  • Bill.com Expands Mobile Billing Service - May 26, 2011
    Bill.com, an online bill payment technology provider, has expanded its mobile offering with the introduction of powerful new accounts receivable and collaboration features. The Palo Alto, Calif.-based company said its customers, especially small and midsize businesses and accountants can free themselves from antiquated paper-based accounting systems while gaining complete oversight and control of online invoicing and money movement. Bill.com Mobile enables customers to pay and get paid faster using their Android, iPhone, Blackberry, or Windows mobile device.
  • Tester Offers Compromise on Durbin Delay Bill - May 23, 2011
    Sen. Jon Tester, a Montana Democrat who has sponsored legislation that would force a delay in the implementation of swipe fee regulation that resulted from the Durbin Amendment, last week offered a compromise that would reduced the delay. The so-called "stop-and-study" bill that proposes further study on the implications of debit interchange reform initially called for a delay of two years on any Fed rules governing debit swipe fees. Tester, however, in a speech on the Senate floor extended an offer to reduce the study period to 15 months.
  • Report: Online Fraud in Airline Industry Plunges 31% Since 2008 - May 23, 2011
    Despite losing nearly $1.5 billion to fraudsters in 2010, the airline industry is making strides controlling fraud in online transactions, according to CyberSource Corporation. The e-commerce anti-fraud software provider, acquired by Visa just over a year ago, said the results of the Airline Online Fraud Survey found fraud in the industry is 31 percent lower than it was in 2008.
  • BilltoMobile to Expand Service Globally - May 23, 2011
    BilltoMobile, a San Jose, Calif.-based company that enables consumers to bill online purchases to their mobile phone account, said it will be launching its payment service globally next month. The move will offer U.S.-based online digital goods and services merchants the ability to process Web purchases on more than 200 carriers in 60 countries.
  • Report: Merchants Weak at Communicating Anti-Fraud Measures to Consumers - May 19, 2011
    Of all the companies involved in transmitting personal information online, consumers are the most confident that banks will protect them and least confident in online retailers, according to a report from anti-fraud technology provider ThreatMetrix and the Poneman Institute. Surprisingly, consumers have more confidence in social networks’ ability to protect personal information than online merchants, the report said.
  • NRF Launches Campaign to ‘Set the Record Straight’ on Durbin - May 19, 2011
    The National Retail Federation today launched a nationwide 60-day campaign to fight assaults by the financial services industry on the recently passed Durbin Amendment that would regulate swipe fees on debit card transactions. The Washington, D.C.-based trade group said it will leverage lobbying, grassroots and media efforts to ensure that the new federal law that would save retailers more than $1 billion a month takes effect July 21 as scheduled.
  • Processor Enables Cardless ATM Transactions - May 19, 2011
    Louisville, Ky. processor Payment Alliance International (PAI) and mobile payments technology provider MagTek said they have deployed MagTek’s Qwick Codes across PAI’s nationwide network of over 50,000 ATM machines. The deployment enables smartphone users who have downloaded the Qwick Codes Mobile Wallet app to swipe any traditional magnetic stripe payment card through an authenticator to generate a one-time, disposable account number and PIN. Consumers use their Qwick Code and PIN at supported ATMs to withdraw cash, eliminating the need to physically carry a payment card while reducing exposure from skimming and related fraud.
  • Report: BillingTree Largest Direct-Biller Vendor - May 16, 2011
    According to a recent report, BillingTree, an on-demand payment processor based in Phoenix, was found to be the largest biller-direct vendor. In an April report titled Biller Direct Technology: Vendor Overview, Boston-based Aite Group said it estimated that nearly 26 percent of consumers will make their payments at billers’ websites by 2013, a percentage that is directly proportional to the expected decline in check-by-mail payments.
  • ReD Joins PCI SSC - May 16, 2011
    London-based fraud prevention and payment processing company Retail Decisions (ReD), has joined the PCI Security Standards Council as a Participating Organization. As a Participating Organization, ReD said it will work with the council to evolve the PCI Data Security Standard (DSS) and other payment card data protection standards.
  • PaymentVision Launches New Gateway - May 16, 2011
    Gaithersburg, Md.-based PaymentVision launched a new payment gateway it said offers customers easier, faster and more secure processing. The company’s 3.0 Universal Payment Processing Gateway includes features that enable merchants to filter out certain categories of cards, verify bank account information if a customer is paying via an ACH transaction or control batch cutoffs for any payment type.
  • U.K. Ad Network Offers Mobile Payment Solution - May 12, 2011
    InMobi, a London-based mobile ad network, has launched its own mobile payments solution. InMobi said SmartPay, aimed at app developers, game companies, and content providers in the U.S. who are looking to operate internationally, provides consumers a seamless mobile checkout experience initially via direct-to-carrier billing. By yearend the company will have expanded the solution to all forms of mobile payment methods including credit cards, PayPal, and local mobile wallets. The company said it can leverage the reach of its ad network business in seven countries to potentially offer the solution to more than a billion consumers.
  • eWise Adds Banks to Roster of Sponsors - May 12, 2011
    eWise, a Denver-based online payment solutions provider, has added two new community banks to its growing customer base in the U.S. Meridian Bank and Metro Phoenix Bank will sponsor merchants and ISOs to accept Secure Vault Payments (SVP). eWise said SVP gives merchants and billers the only online payment option that provides real-time authorization of funds and guaranteed payments for ACH transactions at costs typically lower than traditional and other alternative payment methods.
  • Billeo Launches iPad App for Deals - May 12, 2011
    Billeo Inc., a San Francisco-based online billing solutions provider, has created an iPad app that integrates offers and rewards directly into online shopping. The company said the ShopSmart iPad app, which layers promotional offers into people's search results, helps partners better engage mobile shoppers, drive revenue, and increase brand loyalty. The app also connects shoppers with their Facebook friends, allowing financial institutions to become part of the vibrant online conversations already happening around shopping and daily deals.
  • Card Fraud Biggest Concern of Brits - May 9, 2011
    Concern about card fraud has outpaced fears of identity theft and terrorism as the number one security concern in the U.K. according to the Unisys Security Index. Ninety-three percent of the nearly 1,000 respondents to the Unisys survey named bank card fraud as a worry compared with 91 percent concerned about thieves stealing their identities and only 85 percent worried about terrorist attacks.
  • Kount Garners Patent for Device Fingerprinting and 'Proxy Piercing' - May 9, 2011
    Kount Inc., a Boise, Id. fraud prevention solution provider, said it has received a patent for its device fingerprinting and proxy piercing geolocation technologies. U.S. patent number 7,937,467--“Online Machine Data Collection and Archiving Process”—describes the generation and analysis of a machine data profile of a customer computer accessing a merchant website. In addition to creating a device fingerprint, the technology “pierces” through anonymizing proxies to detect the true IP address and geolocation of the customer computer.
  • Polaris Takes Majority Stake in IdenTrust - May 9, 2011
    An Indian financial services technology provider has acquired a majority stake in digital identification authentication firm IdenTrust Inc. IdenTrust was founded in 1999 by a group of financial institutions that included Citigroup, Bank of America, Chase, Barclays, HSBC, and Deutsche. The system provides applications that use electronic identities that establish contracts, grant authority, support secure encrypted data and information storage and secure online interactions/transactions. The acquisition means Chennai-based Polaris Software Lab Limited now counts 10 of the largest financial institutions in the world as its clients.
  • WorldPay Acquires U.K. Alternative Payment Provider - May 5, 2011
    London-based payments processor WorldPay is set to acquire alternative online payment solutions provider Envoy Services Limited. Envoy, also headquartered in London, provides international e-commerce merchants alternative payment acceptance through a global network of over 200 local bank accounts and 40 alternative payment services as well as a leading fraud screening service.
  • Compass Plus Launches Online Gateway - May 5, 2011
    Compass Plus, a St. Louis-based provider of electronic payments systems to banks, has launched a new online payment gateway. The company said the TranzWare Online Universal Payment Gateway contains functionality that enables banks to accelerate the development of interfaces in-house, streamlining operations, reducing development costs and speeding time to market.
  • Report: Consumers Expect E-Commerce Merchants to Take Extra Authentication Steps - May 2, 2011
    Eighty-five percent of consumers are worried and dissatisfied with the level of protection online businesses are providing to stop fraudsters today according to the results of a study by ThreatMetrix and the Ponemon Institute. Of those who responded to the survey, 42 percent said they have been the victim of online fraud. Of those, 80 percent said they did not report the crime and only 19 percent said they reported it only to the online business directly.
  • Mass. AG Fines Retailer for PCI Non-Compliance in Breach - May 2, 2011
    The Massachusetts Attorney General’s office recently fined a Boston restaurant operator $110,000 for failing to secure the personal data of its customers. According to legal experts, holding a company legally responsible for protecting data—and especially determining that a violation of PCI-DSS standards constitutes consumer fraud—is unprecedented, but could signal a willingness by Massachusetts courts (and other jurisdictions) to do so.
  • Voltage Launches New Piece of Encryption PIE - May 2, 2011
    At the recent Visa Security Summit, payment card data protection provider Voltage Security announced a new encryption product for protecting personal data entered by consumers on Web pages. The company said Page-Integrated Encryption (PIE) is particularly useful for card-not-present applications, ensuring data retains its format and semantics upon encryption.

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