3D Secure Online Payment System Not Secure, Researchers Say
PC World By Jeremy Kirk, IDG News Service A widely deployed system intended to reduce on-line payment card fraud is fraught with security problems, according to
5 Burning Questions: CHARGE Anywhere's John Coloe
In an exclusive video interview, PYMNTS.com puts CHARGE Anywhere's vice president of Corporate Development, John Coloe, in the Briefing Hot Seat to answer burning questions on the mobile platform wars and its impact on the payments industry. Watch the interview
CAMBRIDGE SCIENTISTS BLAST 3-D SECURE SYSTEM
The 3-D Secure protocol adopted by banks and card schemes under the Verified by Visa and MasterCard SecureCode banners has been branded by Cambridge University academics as "a textbook example of how not to design an authentication protocol" by ignoring good design principles and presenting "signifi cant vulnerabilities". More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=21005
The 50 most innovative mobile apps in the world
Mobile Entertainment M-commerce got an (espresso) shot in the arm with this app, that lets people pay for their coffees using their iPhones. Well, in Silicon Valley, anyway.
How Merchants Deal with Rising Credit-Card Costs
Wall Street Journal ... going to get a great price on any type of terminal fees or premium," says Conrad Sheehan, founder and CEO of mPayy, a mobile and online payment service.
Grab VoIP technology to make free internet calls
TMC Net With the ease of internet, now the user can easily make calls on the move also. The demand of VoIP calls are increasing day by day so service providers are
Unbanked India could give traction to e-wallet
Economic Times Andley says it is the unbanked who would embrace M commerce more than those who have bank accounts, because for the latter M-commerce would be just another ...
Japan - Mobile Market - Overview & Statistics - 2010
TMCnet Mobile content 6.1 Global Positioning System (GPS) 6.2 M-commerce/m-cash 6.3 Mobile banking 6.4 Mobile advertising 6.5 Mobile TV and radio 6.6 Mobile
iPhone in 2010: Mobile Commerce, Social Networking Star
San Francisco Chronicle Some analysts say that this year will also be the year of the start of a mobile commerce tidal wave. Market researcher Gartner predicts mobile app revenue
Grooming its image, eBay lowers listing fees
CNET While eBay beat Wall Street's expectations last quarter, much of that growth was fueled by transaction system PayPal and ticket reselling outlet StubHub
Biz Break: Apple tablet countdown: Stock rises after record profit
Today: Apple stock gains after the Mac maker posts record profit. Yahoo reports earnings for its latest quarter. Plus: eBay, Google Voice, San Francisco-area home prices. Read article »
Google.cn attack sparks Internet security debate
Tiger Weekly Baidu is now suing Register.com, its US service provider, for negligence during the attack. Register.com responded in a statement that said Baidu's lawsuit ...
Apple and the Dawn of i-Commerce: What the iPad Means for Payments
The tech world is abuzz with Apple's latest and greatest invention, but what does it mean for the payments industry? For industry insight from Silicon Valley, Commerce Fault Line's Patrick Gauthier weighs in: "It will take a couple of iterations, but the iPad will open new frontiers for 'e-transactions'."
Read more
New PCI Phone Rules: A Number Spoken Is Just As Risky As One Typed
Last week, PCI changed its policy on audio recordings. It now instructs retailers to treat a digital audio capture exactly the same as if it was written. This means that all of those call centers asking for credit card details over the phone must dispose of those recordings, or at least the parts that store the prohibited data, immediately. The PCI community has been debating the audio rules for years, with our first story on it back in August 2007. The issues go beyond the literal digital audio capture ruling that PCI just issued. Another key concern are overheard snatches of conversation. Read more.
HONG KONG AND CHINA PLOT CROSS-BORDER E-MONEY SCHEME
The Hong Kong Monetary Authority is hatching a scheme to create a common cross-border e-money card and eftpos framework for transit and small value payments in the Pearl River Delta region, which comprises Hong Kong, Macau and nine municipalities of the Guangdong Province in the mainland of China. More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=21013
How Facebook, Cloud, Mobility Are Changing Enterprise IT
Over the next five years, enterprise IT will undergo a dramatic change. In that time, cloud computing and virtualization will become even more important, as fewer business will own their own hardware. Facebook and other social networking Websites will also change the landscape. Here, eWEEK looks at several trends that are changing enterprise IT. READ MORE >>
Walmart gears up for global online push
Financial Times By Jonathan Birchall in New York Walmart, the world's largest retailer, has set up a new global e-commerce unit that it says will be tasked with driving ...
Amazon.com grows annual sales by 28% in 2009
While other web retailers may have seen their sales and profits lag in 2009, Amazon.com flourished. Total sales for the year and in Q4 increased 28% and 41.9%, respectively.
Featured Article: Card Fraud Costs Payments Industry Billions Annually
PaymentsSource | Thursday, January 28, 2010 By Meghan Boyer
Card fraud costs the U.S. payments industry, including issuers, merchants and acquirers, an estimated $8.6 billion per year, according to a report from Aite Group LLC, a Boston-based consulting firm. However, fraud amounts to only 0.4% of the estimated $2.1 trillion in U.S. card volume annually, according to the report “Card Fraud in the United States: The Case for Encryption.” Aite interviewed more than 30 fraud-management professionals for the report. While card-fraud losses represent a small percentage of overall card volume, “this remains a troubling area for the industry due to the volatile nature of fraud,” notes Adil Moussa, Aite analyst and author of the report. As the industry prevents fraud in one area, “it will inevitably pop up in a less-protected area,” he says. The largest category for U.S. card fraud is first-party fraud committed by crooks pretending to be legitimate cardholders or by legitimate cardholders who decide not to pay off their balances. First-party fraud represents between 7% and 10% of overall issuer charge-offs, according to the report. The three main forms of third-party fraud in the U.S. are card-not-present, counterfeit and lost-and-stolen data fraud, representing roughly 15% of overall card fraud per category, according to the report. ID theft and non-receipt fraud account for 1.5% and 0.3% of card fraud respectively.
