More on the Novo Dia Group WIC EBT Mobile Platform

“Novo Dia plans to make the application available on any smart phone and to make it compatible with other mobile card readers, such as the device being developed by HomeATM ePayment Solutions.”

Mobile Banker has more on the Novo Dia Group in an article published in Mobile Banking:



Michigan is preparing to test a system that lets merchants accept government benefit payment cards with mobile phones.



Novo Dia Group Inc., an Austin, Texas, software vendor that developed the app for Apple Inc.'s iPhones, said that letting small merchants at Michigan farmers' markets accept electronic benefits transfer cards is part of the state's efforts to make fresh produce more readily available to participants in the Special Supplemental Nutrition program for Women, Infants and Children.



"WIC EBT is still a fairly immature market," said Josh Wiles, a Novo Dia senior partner. "If this takes off, it can open up the farmers' markets to accept WIC."

Continue Reading at American Banker

More on the Novo Dia Group WIC EBT Mobile Platform

“Novo Dia plans to make the application available on any smart phone and to make it compatible with other mobile card readers, such as the device being developed by HomeATM ePayment Solutions.”

Mobile Banker has more on the Novo Dia Group in an article published in Mobile Banking:



Michigan is preparing to test a system that lets merchants accept government benefit payment cards with mobile phones.



Novo Dia Group Inc., an Austin, Texas, software vendor that developed the app for Apple Inc.'s iPhones, said that letting small merchants at Michigan farmers' markets accept electronic benefits transfer cards is part of the state's efforts to make fresh produce more readily available to participants in the Special Supplemental Nutrition program for Women, Infants and Children.



"WIC EBT is still a fairly immature market," said Josh Wiles, a Novo Dia senior partner. "If this takes off, it can open up the farmers' markets to accept WIC."

Continue Reading at American Banker

Surprise Surprise! Blippy Exposes Credit Card Numbers

You can bet your "Bippy" that it was only a matter of time before "Blippy" exposed your PAN's (primary account numbers).  Now, I've just learned (from Mashable.com) that they can be "Googled" (see below)  



How could "anyone" NOT see this coming?  Now that I mention it, why does "anyone" still think you can type your PAN's into boxes on websites? You just can't do it.  Again, my favorite definition of insanity is the act of doing the same thing over and over again expecting different results.  You Type...The Bad Guys Swipe.  You Swipe, Your NOT the bad guys type.  It's that simple.



Here's what I had to say back in January when I first heard about Blippy: (the full post is below)  

When Blippy, which lets you twitter credit/debit card purchases rolled out earlier this month, my eyes rolled as well.

Click to Enlarge

BLIPPY CREDIT CARD DETAILS EXPOSED ON GOOGLE - MASHABLE



Nearly 200 credit card transactions shared on social networking site Blippy  have been exposed - with full credit card numbers included - in Google search results, according to Mashable.



More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=21323

Blippy: Do You Really Want Your Card Transactions Showing Up as a Blip on the Bad Guys Radar Screen

When Blippy, which lets you twitter credit/debit card purchases rolled out earlier this month, my eyes rolled as well. Maybe because I still don't get Twitter. Somebody Tweets "I'm at Peet's" and frankly, it won't be more interesting finding out how much they spent there and what card they used. Who cares? Answer: The bad guys! 




Social networking sites have been identified as a nesting ground for purveyors of malware and phishing techniques, thus financial information gathering. It isn't difficult for them to round up needed information, but why make it easy for them by signing up to have your purchases show up as "blips" on the bad guys radar screens? I was waiting for someone else to see the naked emperor before saying anything. Cyveillance has spoken...



Blippy, could be a valuable tool for cyber criminals, warns Cyveillance. 



Blippy, a Spear Phisher’s Dream

This month, a service called Blippy was rolled out to the general public. In a CNN article this week, Blippy was described as a “financial version of twitter.com”, where users’ credit card transactions are posted to the internet much like the short tweets that people post to twitter.



On twitter, users post up to 140 characters on any topic they wish to discuss. On Blippy, a posting displays how much a person paid for a recent purchase. In the image below for example, we see that Michael Arrington of TechCrunch paid $112.64 at Amazon for a SanDisk 16GB 60MB/s Extreme Compact Flash Card.

Read more: http://pindebit.blogspot.com/2010/01/blippy-do-you-really-want-your-card.html#ixzz0lwY41HWK

Surprise Surprise! Blippy Exposes Credit Card Numbers

You can bet your "Bippy" that it was only a matter of time before "Blippy" exposed your PAN's (primary account numbers).  Now, I've just learned (from Mashable.com) that they can be "Googled" (see below)  



How could "anyone" NOT see this coming?  Now that I mention it, why does "anyone" still think you can type your PAN's into boxes on websites? You just can't do it.  Again, my favorite definition of insanity is the act of doing the same thing over and over again expecting different results.  You Type...The Bad Guys Swipe.  You Swipe, Your NOT the bad guys type.  It's that simple.



Here's what I had to say back in January when I first heard about Blippy: (the full post is below)  

When Blippy, which lets you twitter credit/debit card purchases rolled out earlier this month, my eyes rolled as well.

Click to Enlarge

BLIPPY CREDIT CARD DETAILS EXPOSED ON GOOGLE - MASHABLE



Nearly 200 credit card transactions shared on social networking site Blippy  have been exposed - with full credit card numbers included - in Google search results, according to Mashable.



More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=21323

Blippy: Do You Really Want Your Card Transactions Showing Up as a Blip on the Bad Guys Radar Screen

When Blippy, which lets you twitter credit/debit card purchases rolled out earlier this month, my eyes rolled as well. Maybe because I still don't get Twitter. Somebody Tweets "I'm at Peet's" and frankly, it won't be more interesting finding out how much they spent there and what card they used. Who cares? Answer: The bad guys! 




Social networking sites have been identified as a nesting ground for purveyors of malware and phishing techniques, thus financial information gathering. It isn't difficult for them to round up needed information, but why make it easy for them by signing up to have your purchases show up as "blips" on the bad guys radar screens? I was waiting for someone else to see the naked emperor before saying anything. Cyveillance has spoken...



Blippy, could be a valuable tool for cyber criminals, warns Cyveillance. 



Blippy, a Spear Phisher’s Dream

This month, a service called Blippy was rolled out to the general public. In a CNN article this week, Blippy was described as a “financial version of twitter.com”, where users’ credit card transactions are posted to the internet much like the short tweets that people post to twitter.



On twitter, users post up to 140 characters on any topic they wish to discuss. On Blippy, a posting displays how much a person paid for a recent purchase. In the image below for example, we see that Michael Arrington of TechCrunch paid $112.64 at Amazon for a SanDisk 16GB 60MB/s Extreme Compact Flash Card.

Read more: http://pindebit.blogspot.com/2010/01/blippy-do-you-really-want-your-card.html#ixzz0lwY41HWK

Canadian EMV Cards Expected to Reach 54.8 Million by 2010

Research and Markets: The Number of EMV Payment Smart Cards in Circulation in Canada Is Expected To Reach 54.8 Million Cards by 2010 According To Latest Report

Research and Markets: Canadian Payments Forecast, 2009, Is A Comprehensive Review, Analysis and Forecast of Consumer Payments in Canada

Canadian EMV Cards Expected to Reach 54.8 Million by 2010

Research and Markets: The Number of EMV Payment Smart Cards in Circulation in Canada Is Expected To Reach 54.8 Million Cards by 2010 According To Latest Report

Research and Markets: Canadian Payments Forecast, 2009, Is A Comprehensive Review, Analysis and Forecast of Consumer Payments in Canada

B2B Payments Fraud Still Raging in US, AFP Survey Shows

To manage payments fraud, organizations should adopt an effective mix of internal controls and fraud-management services

WASHINGTON, April 22 /PRNewswire/ -- B2B payments fraud is still a threat to U.S. organizations, but many are employing fraud control measures to keep it at bay, according to a survey by the Association for Financial Professionals (AFP).

The 2010 AFP Payments Fraud Survey, underwritten by J.P. Morgan, found that a majority of organizations experienced attempted or actual payments fraud in 2009.   It also found that most now employ measures to combat these threats, using a combination of account-level solutions and services provided by their banks.  

Criminal entrepreneurs commit most of the B2B Payments fraud attempts, with outside individuals accounting for over 85 percent of the fraud reported in the AFP survey.

Checks are by far the payment method of choice for fraudsters.  A full 90% of organizations experiencing at least one fraud attempt in 2009 reported fraud by check, and a full 64 percent of fraud losses were linked to checks. In fact, the single best action organizations can take to reduce fraud is to reduce or eliminate their use of checks, according to AFP.

"I see payments fraud as a good news/bad news situation," said David Belligner, AFP's director of payments.  "On the one hand, fraudsters continue to assault organizations with fraud attempts.  On the other hand, organizations have continued to improve their defenses against fraud."

Corporate treasury professionals who responded to the AFP survey cited bank-provided control measures that include positive pay/reverse positive pay (83 percent), ACH debit blocks (77 percent), ACH debit filters (58 percent), and payee positive pay (52 percent). Two-thirds of companies also rely on internal processes such as daily reconciliation and account segregation, for example using separate accounts for ACH and check transactions.  In addition, a handful (8%) of organizations use non-bank provided fraud control services.

"J.P. Morgan is committed to helping our clients understand the threats from fraud as well as the means to control it." saidIqbal M. Khan, executive director, J.P. Morgan Treasury Services.  "We are pleased to sponsor the 2010 AFP Payments and Fraud Control Survey.  We look forward to the data being used to foster important discussion around this issue and to ensure corporates understand and have access to the anti-fraud tools that they need."

Since 2005, AFP has examined the nature and frequency of fraudulent attacks on business-to-business payments as well as the tools that organizations use to control payments fraud.   Continuing that research, in January 2010 AFP conducted its Payments and Fraud Control Survey to capture the payments experiences of organizations during 2009.

KEY FINDINGS

• Seventy-three percent of organizations experienced attempted or actual payments fraud in 2009.


• Eighty-one percent of organizations with annual revenues over $1 billion were victims of payments fraud in 2009 compared with 63 percent of organizations with annual revenues under $1 billion.


• Thirty percent of survey respondents report that incidents of fraud increased in 2009 compared to 2008.


• Nine out of ten organizations (90 percent) that experienced attempted or actual payments fraud in 2009 were victims of check fraud. The percentages of organizations affected by other types of payments fraud were:


• ACH debit (25 percent)


• Consumer credit/debit cards (20 percent)


• Corporate/commercial cards (17 percent)


• ACH credits (seven percent)


• Wire transfers (three percent)


• Seventy percent of organizations that were victims of actual and/or attempted payments fraud in 2009 experienced no financial loss from payments fraud.


• Among organizations that did suffer a financial loss resulting from payments fraud in 2009, the typical loss was relatively small at $17,100

ABOUT THE SURVEY

In January 2010, AFP surveyed corporate practitioner members who held the job title of cash manager, analyst or director and received responses 416 responses.  AFP received an additional 69 responses from non-member corporate practitioners holding similar job titles. The vast majority of respondents were from mid-market and large U.S. organizations with revenues of at least $250 million and spanning a wide range of industries. The survey was developed and implemented by the AFP Research Department.

Read the full report: www.afponline.org/research

AFP Payments Resources: http://www.afponline.org/pub/res/topics/topics_pay.html

ABOUT AFP® (www.afponline.org/about )

The Association for Financial Professionals (AFP) serves a network of more than 16,000 treasury and finance professionals. Headquartered outside Washington, DC, AFP provides members with news, economic research and data on the evolving world of treasury and finance, as well as treasury certification programs, networking events, financial analytical tools, training, and public policy representation to legislators and regulators. AFP is the daily resource for treasury and finance professionals.

AFP's global reach extends to over 150,000 treasury and financial professionals worldwide, including AFP of Canada;London-based gtnews, an on-line resource for the treasury and finance community; and bobsguide, a financial IT solutions network.

SOURCE Association for Financial Professionals

B2B Payments Fraud Still Raging in US, AFP Survey Shows

To manage payments fraud, organizations should adopt an effective mix of internal controls and fraud-management services

WASHINGTON, April 22 /PRNewswire/ -- B2B payments fraud is still a threat to U.S. organizations, but many are employing fraud control measures to keep it at bay, according to a survey by the Association for Financial Professionals (AFP).

The 2010 AFP Payments Fraud Survey, underwritten by J.P. Morgan, found that a majority of organizations experienced attempted or actual payments fraud in 2009.   It also found that most now employ measures to combat these threats, using a combination of account-level solutions and services provided by their banks.  

Criminal entrepreneurs commit most of the B2B Payments fraud attempts, with outside individuals accounting for over 85 percent of the fraud reported in the AFP survey.

Checks are by far the payment method of choice for fraudsters.  A full 90% of organizations experiencing at least one fraud attempt in 2009 reported fraud by check, and a full 64 percent of fraud losses were linked to checks. In fact, the single best action organizations can take to reduce fraud is to reduce or eliminate their use of checks, according to AFP.

"I see payments fraud as a good news/bad news situation," said David Belligner, AFP's director of payments.  "On the one hand, fraudsters continue to assault organizations with fraud attempts.  On the other hand, organizations have continued to improve their defenses against fraud."

Corporate treasury professionals who responded to the AFP survey cited bank-provided control measures that include positive pay/reverse positive pay (83 percent), ACH debit blocks (77 percent), ACH debit filters (58 percent), and payee positive pay (52 percent). Two-thirds of companies also rely on internal processes such as daily reconciliation and account segregation, for example using separate accounts for ACH and check transactions.  In addition, a handful (8%) of organizations use non-bank provided fraud control services.

"J.P. Morgan is committed to helping our clients understand the threats from fraud as well as the means to control it." saidIqbal M. Khan, executive director, J.P. Morgan Treasury Services.  "We are pleased to sponsor the 2010 AFP Payments and Fraud Control Survey.  We look forward to the data being used to foster important discussion around this issue and to ensure corporates understand and have access to the anti-fraud tools that they need."

Since 2005, AFP has examined the nature and frequency of fraudulent attacks on business-to-business payments as well as the tools that organizations use to control payments fraud.   Continuing that research, in January 2010 AFP conducted its Payments and Fraud Control Survey to capture the payments experiences of organizations during 2009.

KEY FINDINGS

• Seventy-three percent of organizations experienced attempted or actual payments fraud in 2009.


• Eighty-one percent of organizations with annual revenues over $1 billion were victims of payments fraud in 2009 compared with 63 percent of organizations with annual revenues under $1 billion.


• Thirty percent of survey respondents report that incidents of fraud increased in 2009 compared to 2008.


• Nine out of ten organizations (90 percent) that experienced attempted or actual payments fraud in 2009 were victims of check fraud. The percentages of organizations affected by other types of payments fraud were:


• ACH debit (25 percent)


• Consumer credit/debit cards (20 percent)


• Corporate/commercial cards (17 percent)


• ACH credits (seven percent)


• Wire transfers (three percent)


• Seventy percent of organizations that were victims of actual and/or attempted payments fraud in 2009 experienced no financial loss from payments fraud.


• Among organizations that did suffer a financial loss resulting from payments fraud in 2009, the typical loss was relatively small at $17,100

ABOUT THE SURVEY

In January 2010, AFP surveyed corporate practitioner members who held the job title of cash manager, analyst or director and received responses 416 responses.  AFP received an additional 69 responses from non-member corporate practitioners holding similar job titles. The vast majority of respondents were from mid-market and large U.S. organizations with revenues of at least $250 million and spanning a wide range of industries. The survey was developed and implemented by the AFP Research Department.

Read the full report: www.afponline.org/research

AFP Payments Resources: http://www.afponline.org/pub/res/topics/topics_pay.html

ABOUT AFP® (www.afponline.org/about )

The Association for Financial Professionals (AFP) serves a network of more than 16,000 treasury and finance professionals. Headquartered outside Washington, DC, AFP provides members with news, economic research and data on the evolving world of treasury and finance, as well as treasury certification programs, networking events, financial analytical tools, training, and public policy representation to legislators and regulators. AFP is the daily resource for treasury and finance professionals.

AFP's global reach extends to over 150,000 treasury and financial professionals worldwide, including AFP of Canada;London-based gtnews, an on-line resource for the treasury and finance community; and bobsguide, a financial IT solutions network.

SOURCE Association for Financial Professionals