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The CNP Report Archive - May 2012

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  • Retail Locations to Offer Bitcoins - May 31, 2012
    The virtual online currency Bitcoin will be available for sale at retail locations in the U.S., Russia and Brazil. BitInstant LLC says consumers can visit its Website to order the digital currency, print out a receipt and take it to a participating retailer, pay with cash and have Bitcoins added to their account within 30 minutes.
  • WorldPay Launches Chargeback Management Platform - May 29, 2012
    London-based payments processor WorldPay yesterday launched its Dispute Management System (DMS) that will automate much of the chargeback resolution process for its merchant clients. The company says DMS “bolts-on” to any existing payment gateway, so merchants can get a detailed electronic record and audit trail of chargeback and Request For Information (RFI) history, regardless of acquirer or gateway provider.
  • Optimal Payments Signs on with F1 Racing Team - May 29, 2012
    U.K.-based online payment gateway provider Optimal Payments yesterday revealed that it has signed a partnership agreement with a team in one of the most popular auto racing circuits in the world. Optimal Payments, headquartered on the Isle of Man, says it will work with the Lotus F1 Team to create “unique solutions for credit card, debit card, and alternative methods of payment in a card-not-present environment.”
  • IdentityMind Taps ‘eDNA’ for New Anti-Fraud Platform - May 24, 2012
    IdentityMind, a Palo Alto, Calif.-based company whose technology enables customers to establish Internet identities, used the CNP Expo on Monday to officially launch its anti-fraud platform. The company says the basis of its IdentityMind Antifraud Platform is the concept of “electronic DNA” (eDNA)—the profile created for each Internet identity based on certain parameters observed over time during the execution of online transactions.
  • Report: Small Businesses that Don’t Accept Credit Cards Forgo $100 Billion per Year - May 24, 2012
    Fifty-five percent of the 27 million small businesses in the U.S. do not accept credit cards, according to research conducted by Intuit Inc. The company’s GoPayment product, which enables credit card acceptance using a mobile device, hopes to leverage some of the nearly 15 million small businesses in the U.S. that the research says are missing out on $100 billion in sales (an average of $7,000) annually.
  • CNP Expo Panel Looks at E-Commerce Payments in Emerging Markets - May 23, 2012
    The very nature of e-commerce ensures that, as soon as a business’ Website is live, that business is global. It can be accessed by any consumer in the world with an Internet connection. The final general session of the first annual CNP Expo in Orlando, Fla. yesterday explored how much effort—if any—an e-commerce business should put into generating sales in emerging economies. The answer, according to panelists—and a common one at panels throughout the week at the CNP Expo—is: it depends.
  • CNP Expo Panel: Merchants ‘Never Too Small’ to Think about Fraud - May 22, 2012
    The CNP Expo continued its educational tracks on Monday with another examination of fraud. In one of the centerpiece general sessions of the entire conference, a panel of seven experts moderated by CardNotPresent.com president and founder Steve Casco discussed the issues merchants should consider when choosing a fraud screening solution.
  • Shark Attacks Stage at CNP Expo - May 22, 2012
    On the first full day of the CNP Expo yesterday, clothing entrepreneur Daymond John addressed attendees at a morning session in Orlando, Fla. John, the fashion trendsetter who dressed a generation of urban youth raised on the first wave of hip-hop culture, shared lessons culled from his years building clothing brand FUBU and considering investment opportunities on the ABC television show Shark Tank.
  • CNP Award Winners Revealed - May 21, 2012
    Ten card-not-present service providers took home 20 awards in eight different categories today in the first annual CNP Awards. The awards, presented by Steven Casco, founder and president of CardNotPresent.com, at a special session of the CNP Expo in Orlando, Fla., honor the companies, programs and solutions that have distinguished themselves in the card-not-present space in the last year.
  • CNP Expo Kicks Off with Fraud Panels - May 20, 2012
    Two of four preliminatry sessions this afternoon on the first day of the CNP Expo looked at the challenge of preventing different types of fraud in e-commerce. One six-member panel looked at many of the steps merchants—along with their processors and anti-fraud technology providers—can take to minimize their risk.
  • White Paper Helps Small Merchants Avoid Breaches - May 17, 2012
    ControlScan has published a free white paper for small businesses that details the most effective steps they can take to protect themselves from data thieves. The company says small merchants are complacent about the impact a data breach would have on their business yet are particularly vulnerable to attacks.
  • SafetyPay Launches Global Online Cash Payment Network - May 17, 2012
    SafetyPay, a Miami-based online payment provider, yesterday launched an alternative payment method that lets online shoppers pay with cash. The company says the cash payment solution will be available to consumers in the U.S., Brazil, Peru, the Caribbean, Russia and the CIS countries.
  • MasterCard Ranks Global Preparedness to Adopt Mobile Payments - May 14, 2012
    The Purchase, N.Y.-based card network has developed an algorithm that synthesizes six components—environment (economy and scale), infrastructure (telecommunications and technology), regulation, financial services, consumer readiness, and mobile commerce clusters (the degree of integration and partnering among banks, telcos, and the government)—into an index that enabled it to rank the markets in terms of which are most ready to adopt mobile payments right now.
  • FICO Charts European Fraud Shifts Since 2006 - May 14, 2012
    The U.K. went from nearly €650 million ($838 million) in fraudulent transactions in 2006 to around €420 million ($540 million) last year. Most of the fraud migrated to France and Germany, which both saw significant increases in payment card fraud in the past five years.
  • ControlScan Acquires CRE Secure - May 11, 2012
    ControlScan, an Atlanta-based provider of PCI compliance and information security services for merchants and their service providers, has acquired CRE Secure, another Atlanta company that specializes in secure cloud-based payment solutions for online merchants.
  • MasterCard to Launch Wallet for Online Payments - May 10, 2012
    The card network’s PayPass Wallet Services comprise components that enable online or contactless in-store purchases with a linked payment card and an API that allows partners to connect their own digital wallets into the PayPass Acceptance Network, leveraging MasterCard’s checkout, fraud-detection and authentication services.
  • VeriFone Sets SAIL for Mobile Acceptance - May 10, 2012
    VeriFone this week introduced SAIL, its mobile credit-card acceptance system that will compete with Square, PayPal Here and Intuit’s GoPayment. The company is offering smaller merchants the app and plug-in dongle that enables iOS and Android devices to accept card payments for free.
  • BOKU Signs Direct Billing Agreement with Deutsche Telekom - May 7, 2012
    Direct carrier billing technology provider BOKU,Inc. on Thursday signed a direct billing agreement with Deutsche Telekom, the largest mobile network operator in Germany. Under the agreement, Deutsche Telekom’s 34 million subscribers can purchase digital and virtual goods online and charge them to their existing wireless account.
  • WePay Nets $10 Million Investment - May 7, 2012
    WePay, a Palo Alto, Calif.-based technology provider that enables online payment, said Friday Ignition Partnersit has closed a $10 million financing round led by. The company launched two years ago as a group payments system but evolved into a full suite of tools that merchants can integrate into their Websites to collect online payments.
  • First Data Acquires Remaining Stake in OmniPay - May 3, 2012
    First Data Corporation has acquired the remaining 30 percent of Irish payments processor OmniPay. The Atlanta-based processing giant acquired the remaining equity from FEXCO, a provider of transaction processing, foreign exchange and outsourcing services.
  • MasterCard Removes Global Payments from ‘Approved’ List - May 3, 2012
    Fallout from the Global Payments data breach, reported more than a month ago, continued this week as MasterCard confirmed it has removed the payments processor from its list of approved vendors. MasterCard’s move follows that of Visa, which removed Global Payments from its list of PCI-Compliant service providers shortly following disclosure of the April breach.
  • Fed: Debit Interchange Fees Nearly Halved - May 3, 2012
    According to the Federal Reserve, data collected after the rule took effect show that the average interchange fee per transaction received by non-exempt issuers in the fourth quarter of 2011 declined substantially to 24 cents while the average interchange fee received by exempt issuers was 43 cents.
  • Walmart Launches Online Cash Purchases - May 3, 2012
    Walmart recently launched a system that enables consumers to shop and order online, but pay using cash. The “Pay with Cash” offering is available at Walmart.com in the U.S. and is aimed at consumers who do not have bank accounts or credit cards or who are uncomfortable using payment cards online.

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