HomeATM Headline News through January 22nd

Who Wins The Mobile [Payments] Platform Wars?

SYS-CON Media (press release)  The PYMNTS.com Briefing Room on Mobile Platform Wars focuses on the varying and sometimes competing approaches to mobile commerce currently in play,

Identity Theft on the Rise

PC World  ... (in the form of a Social Security card, driver's license, or birth certificate), but there has not been a credit or debit card fraud committed. ...

CONSUMERS REMAIN INSECURE WHEN BANKING ONLINE AS FRAUDSTERS STAY A STEP AHEAD

Consumers around the world are becoming increasingly aware of, and concerned by, online security issues, yet more people than ever are falling prey to cyber-scams, according to a survey from RSA.  More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=20974

WONGA TURNS IPHONE INTO 'VIRTUAL CASH MACHINE'

London-based online credit start-up Wonga has launched a mobile app that offers instant short-term loans over the iPhone to approved applicants.   More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=20971

American Express acquires Revolution Money

Trading Markets (press release)  American Express Company, a provider of travel related services, has acquired Revolution Money, Inc., a provider of online payment solutions and online



EBay Profit Nearly Quadruples On Core Strength, Skype Gain

Wall Street Journal  EBay Inc.'s (EBAY) fourth-quarter profit nearly quadrupled on strength in PayPal and the core marketplace business as well as a $1.4 billion gain from the



PayPal Gives eBay A Boost

Forbes  Online auctioneer eBay Inc. said Wednesday its fourth-quarter profit more than tripled because of "excellent growth" at PayPal and StubHub, a robust holiday ...

Risky Business Valley startups aim to text MONEY

San Jose Mercury News  Meanwhile, PayPal, a division of eBay, has opened its payment platform to outside developers, leaving observers to wonder what tricks it may yet unveil in

HEARTLAND SETTLEMENT WITH VISA PROMPTS LAWSUIT AGAINST ACQUIRING BANKS

In the wake of Heartland Payment Systems' data breach settlement with Visa, lawyers representing five financial institutions have filed a class action lawsuit against two acquiring banks, claiming they share responsibility for damages caused by the intrusion.   More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=20983

New Group Seeks Safe Debit Payments Online And for Mobile

Digital Transactions  Now a new one has come onto the scene, one is dedicated to furthering the cause of

Rixty Raises $1.24 Million in Seed Capital to Fuel Growth of Its Cash-Based ...

SYS-CON Media (press release)  ... and was previously director of product management at Google, Inc., and co-founder of Achex, a developer of online payment systems which was eventually

Google takes on Netflix, offering film rentals through YouTube

Starting tomorrow, consumers will be able to rent five films, all affiliated with the Sundance Film Festival, through YouTube. The launch of the movie rental service could open the door for more paid content, including educational material.

Payment Volume, Platform Response Swell for an Upbeat PayPal

Digital Transactions  The processor saw some progress with Bill Me Later, the online transactional credit provider eBay acquired in 2008. Despite a tough economy and high ...

Pricing, Security Deter Mobile App Downloads, Says Survey

eWeek  “Mobile commerce is a rapidly maturing market. We have seen e-commerce continue to gain widespread user acceptance,” Aston Fallon, president of Asknet, ...

Recession Helps Fuel Merchant Interest in Online PIN Debit

Merchant e-Solutions Inc., which on Tuesday announced it is actively marketing online PIN debit to both existing and prospective e-commerce merchants, credits the deep recession of the past year or so with helping to drive merchant interest...  http://www.digitaltransactions.net/newsstory.cfm?newsid=2425

China's Internet titans leave West behind

CNN International   Social Internet service providers like Tencent trounce foreign latecomers like MySpace and Facebook. While the Google-China spat has raised questions ...

Magento Ecommerce Platform Integrates Moneybookers Payment Service

Auctionbytes  By Ina Steiner Magento has integrated Moneybookers as a core module in the upcoming Version 1.4 of the Open Source Magento eCommerce platform. ...

Google sees revenues increase 17%

BBC News  ... due to it having to write down $1bn to cover a fall in the value of its investments in internet group AOL and wireless service provider Clearwire. ...

Javelin Study: End-to-End Encryption, Tokenization, and EMV in the US

Javelin has announced a new report titled "End-to-End Encryption, Tokenization, and EMV in the US: Vendor Analysis of Emerging Technologies and Best Hybrid Solutions" that "assesses the capabilities of end-to-end encryption, tokenization, virtual terminals, magnetic-stripe security and the EMV standard as solutions to combat payment-related data breaches."

eCommerce Headline News - January 22nd

Ebay Q4 Report Receives Mixed Reactions From Investors and Analysts ZippyCart - ‎21 minutes ago‎ Auction ecommerce giant Ebay recently released their fourth quarter report and the response is mixed from analysts and investors alike. ... NetSuite Wins CRM Excellence Award TMCnet - Patrick Barnard - ‎54 minutes ago‎ NetSuite (News - Alert) offers a comprehensive suite of CRM and business applications (including full-featured financials, inventory and ecommerce software) ... FastPivot.com Attends WNC “Lessons In Leadership” Conference Mountain Xpress (blog) - Jonathan Poston - ‎2 hours ago‎ FastPivot.com strives to not only find the best ecommerce developers for custom Yahoo Store build and design projects, but to hire the ones who love what ... Internet forum database 'hacked' Ecommerce Journal - ‎3 hours ago‎ Tell us what topics you want to be covered in the Ecommerce Journal? Alexa's Archive.org is one of the absolute best spots to find abandoned content. ... Ecommerce Tips: Chuck Norris vs. ZippyCart ZippyCart - ‎3 hours ago‎ Running a successful ecommerce business is hard work, but sometimes you need to have a little fun. We thought it would be great to provide some informative ... InterDyn AKA Announces Creation of Advanced Distribution Partners for ... IT News Online - ‎3 hours ago‎ ... Marketing & New Customer Acquisition -- Financial Risk Management -- eCommerce and EDI Integration The relationships between Supplier, Manufacturer, ... The Unexpected Ecommerce Potential of the New Apple Tablet ZippyCart - ‎3 hours ago‎ Lost in the debate about the Apple tablet: any mention of e-commerce. Here's today's take from The Wall Street Journal: "New York Times Chairman Arthur ... Merchant e-Solutions adds online PIN debit to e-commerce platform ATM marketplace.com (press release) - ‎4 hours ago‎ Merchant e-Solutions Inc. has announced the addition of an online PIN debit payment option to its e-commerce platform. “As the popularity of shopping on the ... Collins Computing, Inc. Announces Creation of Advanced Distribution Partners ... TMC Net - ‎4 hours ago‎ ... Discounts Marketing & New Customer Acquisition Financial Risk Management eCommerce and EDI Integration The relationships between Supplier, Manufacturer, ... Twitter users vulnerable to security flaw Ecommerce Journal - ‎4 hours ago‎ Tell us what topics you want to be covered in the Ecommerce Journal? A Russian police officer who posted a video on the internet alleging the police force ... Internet World Show BigNews.biz (press release) - ‎5 hours ago‎ The internet world exhibition has a lot to offer its visitors with exhibitors from the UK's leading suppliers in online marketing, ecommerce and IT. ... AdAge.com More CPG Players Embrace E-commerce AdAge.com - Jack Neff - ‎6 hours ago‎ Currently P&G has about $500 million in e-commerce sales globally through its own sites and others -- far from inconsequential, but still less than 1% of an ... The lawsuit against Microsoft over WGA can't be classified as class action Ecommerce Journal - ‎6 hours ago‎ Tell us what topics you want to be covered in the Ecommerce Journal? You can use BBCode tags in the text. URLs will automatically be converted to links. ... MSFT 5 reasons your press page should lose the PDFs Econsultancy (blog) - Rebecca Lieb - ‎6 hours ago‎ Good user experience isn't a concept limited to ecommerce sites. Disagree? Then consider another tactic, suggested by a veteran journalist. ... Phones Review Google Nexus One has multitouch functionality Phones Review - ‎7 hours ago‎ Apparently according to somebody who wished to remain anonymous Google axed the feature at the request of Apple. Source - ecommerce-journal.com Share a ... GOOG CIO Magazine Says These are the Companies to Watch in 2010 CMSWire - Barb Mosher - ‎7 hours ago‎ Enterprise productivity apps anyone? Endeca: Enterprise search for eCommerce websites and partnerships with SAP, Open Text and Nstein are also key. Seven Tips for Picking the Best E-Commerce Program ECommerce-Guide - Kerry Watson - ‎7 hours ago‎ So one of your New Year's resolutions is to start making money from your Web site with e-commerce. How do you get there from here? ... 6 elements shared by social media winners iMedia Connection - Julia Hix - ‎8 hours ago‎ When Party City launched its ecommerce website only weeks before Halloween, its biggest sales season, the goal was to increase website visits. ... Google Expands Personalized Search Practical Ecommerce - ‎8 hours ago‎ And, although natural search optimization should continue to be core to any ecommerce online marketing campaign, this shift to personalized search augments ... GOOG SDL Tridion Makes New Friends, Brings SaaS to Japan CMSWire - Chelsi Nakano - ‎8 hours ago‎ On a beeline for global domination, SDL Tridion also recently acquired European eCommerce company, Fredhopper. The significance of getting hands-on with a ... Choice Hotels announces home-based agent strategy Hotel News Now - ‎8 hours ago‎ ... our Minot operation while positioning us effectively for the future," said Mary Beth Knight, senior vice president, eCommerce and global distribution. ... CHH Snow Valley reports on the state of online deliveries InternetRetailing.net - Sarah Clark - ‎8 hours ago‎ UK online retailers are continuing to improve their delivery services, according to the fifth annual Snow Valley Online Retail Delivery Report, ... Google Memo On the Year Ahead TMC Net - ‎8 hours ago‎ Ecommerce players now understand online marketing is a truly measurable medium, and that by constantly testing and improving their landing pages, ... GOOG - OTC:CMTX Agent Provocateur takes email marketing in-house InternetRetailing.net - Sarah Clark - ‎8 hours ago‎ ... them by sending the most relevant, targeted and engaging communications possible,” says Joanna Kelly, senior ecommerce manager at Agent Provocateur. ... CEO/President of OmniReliant Resigns; Replacement Named FOXBusiness - ‎8 hours ago‎ The Company successfully markets its products through various direct response formats, live shopping networks, ecommerce, direct mail, and traditional ... OTC:ORHI Record high for ecommerce website sales in December Bluhalo (blog) - ‎8 hours ago‎ The most popular ecommerce website segments included accessories, gifts and electricals as consumers turned to the web to purchase festive gifts and escape ... InternetRetailing.net Guest Comment: How to implement a successful friends and family promotion InternetRetailing.net - Sarah Clark - ‎8 hours ago‎ ... your on-hold message to advertise it. • Steve Davis is president of the European arm of ecommerce and multi-channel solutions specialist GSI Commerce. Ecommerce Journal Mybetwinn, you bet to lose Ecommerce Journal - ‎9 hours ago‎ Tell us what topics you want to be covered in the Ecommerce Journal? You can use BBCode tags in the text. URLs will automatically be converted to links. ... iMergent Fourth Quarter Calendar 2009 Financial Results Conference Call ... CNNMoney.com (press release) - ‎9 hours ago‎ iMergent provides eCommerce solutions to entrepreneurs and businesses enabling them to market and sell their business products or ideas via the Internet. ... IIG Shop Online With a Little Help From Your Friends GeekSugar.com (blog) - ‎9 hours ago‎ Ecommerce is an important slice of the retail pie, and online shopping is fast, simple, and convenient. But, it doesn't beat a day out at the mall with your ... Bazaarvoice Wins Rubbermaid Texas Tech Pulse (blog) - ‎9 hours ago‎ Austin-based Bazaarvoice, a supplier of ratings and review applications for ecommerce sites, reported Thursday that the Rubbermaid is using the firm's ... Cart of the Week: Ecwid Practical Ecommerce - Kate Monteith - ‎9 hours ago‎ In this "Cart of the Week" installment, we feature Qualiteam's latest release, Ecwid, an ecommerce platform that can be installed on any website by ... Magento Ecommerce Platform Integrates Moneybookers Payment Service Auctionbytes - Ina Steiner - ‎9 hours ago‎ Magento has integrated Moneybookers as a core module in the upcoming Version 1.4 of the Open Source Magento eCommerce platform. ... CEO/President of OmniReliant Resigns; Replacement Named Trading Markets (press release) - ‎10 hours ago‎ The Company successfully markets its products through various direct response formats, live shopping networks, ecommerce, direct mail, and traditional ... OTC:ORHI Internet and e-commerce industry in Sweden Ecommerce Journal - ‎10 hours ago‎ And we're to consider what stage of progress ICT and e-commerce sectors currently are. Sweden's broadband market pretends to be one of the most developed in ... CEO/President of OmniReliant Resigns; Replacement Named SYS-CON Media (press release) - ‎10 hours ago‎ The Company successfully markets its products through various direct response formats, live shopping networks, ecommerce, direct mail, and traditional ... OTC:ORHI MetaPack release white paper to Support Snow Valley Delivery Report Econsultancy (press release) - ‎11 hours ago‎ ... alongside retailers of all sizes, eCommerce companies and the carrier industry, bringing them together in a seamless solution that benefits them all. ... PacificHost drops bandwidth limits and revamps hosting plan lineup HostReview.com (press release) - ‎11 hours ago‎ Magento is an open-source ecommerce script that allows individuals and organizations to build their own ecommerce website. To pay or not to pay? IAB UK - ‎12 hours ago‎ Tribal DDB created the biggest online game of Monopoly ever, using Google Maps to take the game into the real world. More on Tribal DDB's award winning ... A Dangerous Match? Credit Cards and the Internet Credit Card Guide News - Eva Norlyk Smith - ‎12 hours ago‎ When it comes to the Internet and ecommerce, the always blurry line between providing legitimate information and conning people into buying useless products ... JAPAN AIRLINES Bankruptcy News, Issue No. 1 Earthtimes (press release) - ‎12 hours ago‎ COURT A copy of today's newsletter is available for free at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=JAPAN|AIRLINES. Copies of all back issues are ... ETR:JAY - OTC:JALSY Xmas ecommerce sales record IAB UK - ‎12 hours ago‎ Ecommerce sales rose by 17 per cent year on year, compared with the 14 per cent annual increase recorded in December 2008. About £5.46 billion was spent ... Most European firms are 'now online' Global Gold Internet Services - Debra Hastings-Henry - ‎12 hours ago‎ On domestic shores, the case for embracing ecommerce is even stronger, as the figure rises to 15 per cent among British firms. Last week, a spokesperson for ... Ecommerce Journal Mozilla Firefox 3.6 review, what's the new? Ecommerce Journal - ‎13 hours ago‎ Tell us what topics you want to be covered in the Ecommerce Journal? Comments on Mozilla Firefox 3.6 review, what's the new? You can use BBCode tags in the ... Customer Experience takes a Giant Leap with Infibeam.com New Search Live-PR.com (press release) - ‎13 hours ago‎ Infibeam's user interface provides the most unparalleled and smooth shopping experience amongst all eCommerce sites in India. product engine, ... News sites 'easiest to use of any sector' Netimperative - ‎13 hours ago‎ Local authority and government websites are identified as the most difficult to use, followed by financial services and retail and ecommerce websites, ... Payment firm to create 100 Dublin jobs Ireland Online - ‎14 hours ago‎ With more than 81 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company and ... Whitehead appointed as The Hut's M&A director Crain's Manchester Business - Michael Fahy - ‎14 hours ago‎ The Hut Group, the Northwich-based online ecommerce retailer, has appointed Steven Whitehead as its new mergers and acquisitions director. ... The Business Desk (registration) The Hut appoints M&A director as it prepares to buy bolt-ons The Business Desk (registration) - Joanne Birtwistle - ‎14 hours ago‎ ONLINE entertainment retailer The Hut Group has appointed a former investment manager for Barclays Private Equity as ... InteractiveTV Today [itvt] The iTV Doctor Is In: Introducing "Looking for a Gig" InteractiveTV Today [itvt] - ‎14 hours ago‎ Contact Grumpy c/o rickhowe@aol.com Sr digital media pro with exp in cross-platform ITV, online and mobile (across all genres, from ecommerce to sports to ...

Alternative Payments Come of Age: Threat or Opportunity

http://www.americanbanker.com/papers/-1006363-1.html

Price: FREE

Publisher: Moneta

Publication Date: Friday, January 22, 2010

Pages: 12

Document Format: PDF

This white paper challenges banks to rethink their payment offerings and look strategically at payment solutions that offer a significant stake in this growing marketplace. Alternative (non-card) payments currently represent more than 20% of all online sales with analysts projecting this market share to reach 25% by 2011. The largest portion of this market share is with PayPal, which typically disintermediates banks from the transaction process and can potentially reduce deposit levels. Learn how to assess the value offered for three key stakeholders: Banks, Consumers and Merchants in available alternative payment methods.

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Visa Europe Says UK PIN Debit Card Use to Exceed Cash for First Time

Visa Europe is reporting that 77% of its business is now done with PIN Debit cards and that eCommerce growth made up 20 percent of all transactions in the U.K.  Here's an excerpt:

UK PIN Debit card use to exceed cash for first time

By Patrick Jenkins, Banking Editor | Financial Times



Debit card spending is on track to overtake cash as a payment method in the UK this year, according to Visa Europe, the card processor.



The group, owned by the banks for which it processes payments, said on Tuesday that 77 per cent of its business was now done with debit cards, rather than credit cards, after a 10 per cent rise in debit card transactions last year.



Visa said the swing was driven by a continued shift away from the use of cash and that online shopping has also driven growth, with 25%r of all Visa spending in the UK conducted online over the Christmas period and 20 per cent for the year as a whole.



“The growth in e-commerce is really staggering. The proportion has doubled in four years,” said Peter Ayliffe, chief executive of Visa Europe.

Read the Article in it's Entirety

About Visa Europe

Visa Europe is a membership association of 4,147 European banks that have collectively issued over 380 million Visa debit, credit and commercial cards in Europe.



In 2009, those cards were used to make purchases and cash withdrawals to the value of over €1.3 trillion.



In October 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe.



As a dedicated European payment system it is able to respond quickly to the specific market needs of European banks and their customers – cardholders and retailers, and to meet the European Commission’s objective to create a true internal market for payments.



Visa enjoys unsurpassed acceptance around the world. In addition, Visa/PLUS is one of the world’s largest global ATM networks, offering cash access in local currency in over 170 countries.

European focus

• Visa Europe is strongly committed to the goals of a Single Euro Payment Area (SEPA), in particular the ability for consumers to use card payments all across Europe and have a consistent experience doing so


• Visa Europe confirmed in January 2007 that all its products were in compliance with the SEPA Cards Framework (SCF) principles since January 2007, a full year ahead of the implementation deadline set by the European Payments Council (EPC)


• Europe is a distinct market – commercially, culturally and politically – and Visa Europe is a truly European payments organisation addressing these factors. Visa Europe has a unique business model backed up by around 1000 employees drawn from nearly all of its 36 European markets.

Visa Europe Management

• Peter Ayliffe is President and CEO of Visa Europe. He is responsible for Visa’s business in 36 countries


• With over 70% of Visa Europe’s business focused on debit, and thus directly connected to its member banks current accounts (the core of their business), its members have an invested interest in how Visa Europe is managed. One of Visa Europe’s unique attributes is the way that its member banks influence and oversee the management of the company, its systems and its operations


• Visa Europe's members are represented by 17 non-executive Directors, each of whom is a board-level employee of their respective organizations elected from member banks in Europe. The Visa Europe Board is chaired by Jan Lidén, President and Chief Executive Officer of Swedish bank FöreningsSparbanken


• The Executive Management Committee is the most senior internal day-to-day decision making body in the company. Meeting regularly and reporting to the Board of Directors, it makes all the decisions that relate to the day-to-day operation of the company

Products and services

Consumer Products: Visa has a complete portfolio of payment products to suit every bank customer – from basic ATM cash cards, through to debit and credit cards with a full range of benefits and services. These include Visa Classic, Visa Gold, Visa Platinum, Visa Infinite, Visa Electron, PLUS and now, V PAY, a new European debit product. Prepaid cards issuance has registered significant growth in the last 12 months, being a perfect idea as a gift card and being an ideal product for people who do not have a bank account.



Moreover Visa continues to introduce innovative payment technologies to the world. Contactless payments are the faster and more convenient way of making everyday purchases using a Visa chip card instead of cash. Visa payWave is the new contactless alternative to cash for low value transactions. We are also taking part in the O2 mobile wallet trial in London.



Visa Commercial: Visa Commercial products Visa Business, Visa Corporate, Visa Purchasing, Visa Distribution, Visa Commerce and Visa Government Procurement Card provide an easy, convenient way to buy office supplies, manage travel and entertainment expenses, control employee spending limits, meet cash flow needs, reduce operational expenses, and track, monitor and control business expenses. Backed by Visa’s unsurpassed acceptance and utility, Visa commercial products and services can be tailored to meet the changing needs of every business segment — from the multinational corporation to the sole proprietor and national governments.



Member Services: Visa provides a range of technology-related services to its Member banks. These include the processing of card transactions various fraud and risk-control systems and international cardholder assistance services.



Processing: Visa Europe Processing is the largest inter-bank card processor in Europe. Owned and operated in Europe by Visa Europe, it has a fully SEPA compliant European transaction switching platform. It is also the most technically advanced, fastest (4 time faster than competition) and cheapest processing system in Europe.



Visa Europe’s member institutions come from 36 European countries –

Andorra	France	Italy	Portugal
Austria	Germany	Latvia	Romania
Belgium	Gibraltar	Liechtenstein	Slovakia
Bulgaria	Greece	Lithuania	Slovenia
Cyprus	Greenland	Luxembourg	Spain
Czech Republic	Hungary	Malta	Sweden
Denmark	Iceland	Netherlands	Switzerland
Estonia	Ireland	Norway	Turkey
Finland	Israel	Poland	UK

Visa Europe’s headquarters are in London and there are local offices in Athens, Brussels, Frankfurt, Paris, Istanbul, Lisbon, Madrid, Milan, Stockholm, and Warsaw.

For more information:

Visa Europe Corporate Communications

+44 (0) 20 7795 5336

europeanmedia@visa.com

www.visaeurope.com









.

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American Express Introduces: LoyaltyEdge for Business

American Express Introduces New Line of Business that Extends Loyalty Program Expertise and Services to Strategic Business Partners



NEW YORK--(BUSINESS WIRE)--American Express announced today the launch of a new line of business, LoyaltyEdgeSM from American Express. LoyaltyEdge will work with strategic business partners and merchants to create, implement, and/or enhance their customer loyalty programs in order to help attract and retain customers, thus driving incremental business growth. Long-time strategic partner, Delta Air Lines, is the first to utilize the services of LoyaltyEdge.



“Our expertise and success in the rewards program business spans two decades from our award-winning Membership Rewards program to our cobrand cards,” said Ralph Andretta, executive vice president, Cardmember Services, American Express. “We know that effective loyalty programs help drive customer loyalty and deepen customer relationships. Through the launch of LoyaltyEdge, we are helping business partners build and manage customized rewards programs that will resonate with their customers and give them an edge over the competition in an increasingly challenging and competitive marketplace.”



LoyaltyEdge provides end-to-end services in a one-stop-shop – from designing the rewards program to providing the redemption options and fulfillment to analyzing redemption patterns and behaviors to help inform future marketing strategies. LoyaltyEdge will work with business partners to understand their loyalty program needs and objectives, and identify which offerings best meet those objectives. Then, leveraging American Express’ vast network of partners, capabilities, and unique customer insights, LoyaltyEdge will provide an individually tailored “plug and play” solution for business partners. In turn, business partners will be able to increase customer engagement and satisfaction, while reducing loyalty program costs.

• LoyaltyEdge can deliver a full range of loyalty program services based on partner needs, including:
  
  Valuable customer insights


• Program design and execution


• Expanded loyalty and redemption options as well as fulfillment capabilities


• Customer service solutions


• Targeted and segmented marketing


• Loyalty and cost management analytics

Companies interested in LoyaltyEdge services should email loyaltyedge@aexp.com for additional information.



American Express



American Express Company (www.americanexpress.com) is a leading global payments, network and travel company founded in 1850.  In 2009, for the third consecutive year, American Express was ranked “Highest in Customer Satisfaction with Credit Card Companies” by J.D. Power and Associates.

Security Fears Dog Online Banking

Online banking customers are worried about their financial security but banks are lagging behind, according to a global survey of 4,500 internet users.

• The survey found security concerned 86 per cent of online banking users, compared to just 68 per cent for users of government web sites and 64 per cent for online health care. 



• Four out of five wanted better protection than a simple password.

"Consumers are very much aware of these threats," Seth Geftic, senior manager of Identity Protection and Verification at RSA told V3.co.uk.



"They are not satisfied with simple password. Consumers really and need this security."



He continued that while some European banks were going down the line of two factor authentication UK and US banks were instead relying on risk-based authentication.   These monitor user behavior and apply computer algorithms to usage patterns to try and determine if an account has been compromised. Such systems avoided the 'man in the middle' attacks which could defeat two factor authentication.



Nevertheless internet users are getting more savvy about the threats from phishing and malware. In a similar survey in 2007 63 per cent of respondents were aware of Trojans, but last year that rose to 81 per cent.



The study also looked at the security needs of social networking sites, and found that users were seriously worried about the levels of security there.



"People are asking for more security and have said they would use it," said Geftic.



"A lot of data on social networking sites is used to steal banking information. People have been trained not to answer an email from a bank now, but attacks are more likely to come from social networking."

Visa Inc. Board of Directors Declares Dividend and Approves an Additional Class C Share Release Program

SAN FRANCISCO,  -Payments Industry News Blog- Visa Inc. (NYSE: V) announced that its board of directors had declared a quarterly dividend in the aggregate amount of $0.125 per share of class A common stock (determined, in the case of class B and class C common stock, on an as-converted basis) payable on March 2, 2010, to all holders of record of the Company's class A, class B and class C common stock as of February 12, 2010.



The Company also announced that its board of directors had approved the release of additional class C shares. The number of shares released for any class C shareholder will be the greater of (a) 50% (fifty percent) of the restricted class C shares held by that shareholder as of March 1, 2010, and (b) 5,000 (five thousand) class C shares. Shareholder application will not be required. The shares will automatically become eligible for public sale on March 8, 2010. The remaining restricted class C shares will continue to be subject to the general transfer restrictions that expire on March 25, 2011, under Visa's certificate of incorporation. Class C shares sold in the public market upon release under this program will automatically convert to class A shares. Approximately 56 million class C shares are expected to be released from transfer restrictions. The release of the class C shares will not increase the number of outstanding shares on an as-converted basis of the Company's common stock, and there will be no dilutive effect to the outstanding class A common stock share count on an as-converted basis.



About Visa: Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

Western Union Helps Raise over $1,265,000 to Support Earthquake Relief Efforts in Haiti

ENGLEWOOD, Colo.--(BUSINESS WIRE)--The Western Union Company (NYSE:WU), a leader in the money transfer segment of global payments, today announced it has helped raise over $1,265,000 in support of earthquake relief efforts in Haiti.



Western Union in cooperation with its Agents has activated a "No Transfer Fee" program, for a limited time, for money-transfers sent to Haiti from participating Agent locations in the United States, Canada, Dominican Republic, Jamaica and select locations in France.1



The "No Transfer Fee" program, subject to network, service and currency availability, also is available through WesternUnion.com from the United States and Canada.



How Consumers Can Send Money to Haiti

Consumers sending money to Haiti may visit Western Union Agent locations to send a money-transfer to family and friends in Haiti or may do so online www.WesternUnion.com.

For more information about Agent locations that are open and offering services in Haiti consumers may visit www.WesternUnion.com or call in the:

• U.S. 1 800 325-6000 (English and Spanish) or 1 877 984-1726 (Creole)


• Canada 1 800 235-0000 (English and French) or 1 877 984-1726 (Creole)


• Dominican Republic (1-809) 200-7380 (English and Spanish)


• Jamaica (876) 926-2454


• France 08 25 00 98 98.

Western Union and its Agents in Haiti continue to work around-the-clock to reopen additional Agent locations. The earthquake damages have generated a number of infrastructural challenges for businesses operating in the country, and our company continues to work toward restoring service as quickly as possible.



“The damages in Haiti and the need for support are immeasurable,” said Luella Chavez D’Angelo, president The Western Union Foundation. “We will continue to look for ways to work with organizations providing disaster relief efforts in Haiti. Our thoughts are with those affected by this disaster.”



Western Union Programs Supporting Haiti Disaster Relief Efforts Have Helped Raise $1,266,654.

• Through its corporate signature program, Our World, Our Family®, The Western Union Company and The Western Union Foundation have donated $250,000 to help provide basic necessities such as food, safe drinking water, access to sanitation facilities, clothing and temporary shelter through Mercy Corps and Save the Children response teams actively working in Haiti. Additionally, The Western Union Foundation has matched employee and Agent donations for a total of $533,261.
  
  
  
  Collectively, Western Union has directly contributed $783,261 to support disaster relief efforts in Haiti.

• Western Union, through its Foundation, also has activated its Agent Giving Circle, matching one-for-one Agent donations from the region and around the world. To date, Western Union Agents have donated $443,675.


• Western Union employee donations to the Western Union Foundation Haiti Earthquake Relief Fund, matched two-to-one for U.S. based employees and three-to-one for international employees. To date, Western Union employees have donated $39,718.


• Additionally, The Western Union Company has set up a special account in the U.S. – MERCYCORPS, OR – benefitting Mercy Corps in support of disaster relief efforts in Haiti. Consumers in the U.S. can donate by sending a no fee money transfer, using the Western Union Quick Collect service, directed to the Mercy Corps account, for up to $5,000 over the next 30 days, concluding February 11, 2010, by visiting a Western Union Agent location.

¹ For a limited time, Western Union is not charging a transfer fee for remittances from selected locations in the U.S., Canada, the Dominican Republic, Jamaica and France to Haiti. However, if there is a conversion of currency, the conversion may result in a foreign exchange gain, which is retained by Western Union and its Agents. Western Union pays out in US dollars in Haiti.

About Western Union

The Western Union Company (NYSE:WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta and Pago Facil branded payment services, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. Western Union, Vigo and Orlandi Valuta operate through a combined network of more than 400,000 Agent locations in 200 countries and territories. In 2008, The Western Union Company completed 188 million consumer-to-consumer transactions worldwide, moving $74 billion of principal between consumers, and 412 million consumer-to-business transactions. For more information, visit www.westernunion.com.

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