Apple Inc.'s iPhone accounts for only a tiny fraction of the cell phones out there, but it's the undisputed headline grabber in the niche of mobile devices called smart phones that enable enhanced Web browsing, play music, and perform other gee-whiz functions. The iPhone also is the focus of intense …
Read More »How the Onset of Web 2.0 Puts E-Commerce up for Grabs
This article kicks off a six-part series by electronic-payments researcher and consultant Steve Mott that explores how the next generation of e-commerce will be defined by the Web 2.0 phenomenon, leading to dramatic changes in the transactional environment. The final installment of the series will appear in the February issue …
Read More »Bill Me Later Not Likely to Suffer from Its Ouster from Amazon
Not surprisingly, Amazon.com Inc. disclosed this week that it would no longer accept Bill Me Later Inc., the fast-growing online credit system now owned by Amazon archrival eBay Inc. But at least one analyst expects the damage to Bill Me Later will be minimal despite the loss of access to …
Read More »Facebook Balks, But Expect Social Networks to Launch Payments
Don't look for Facebook to get into the payments business any time soon. According to a report this week in “Inside Facebook,” a Web site that tracks Facebook developments for software developers and marketers, the social network has put on hold a payments platform that the network had announced a …
Read More »Fraudsters Run One-Stop Shop Online to Sell Data-Stealing Code
Fraudsters are running an online trading post for highly sophisticated code that allows criminals to more easily steal consumers' log-on credentials, Social Security Numbers, PINs, and other confidential information, according to the latest report from RSA Security Inc.'s Anti-Fraud Command Center. The fraudster Web site, which RSA analysts call a …
Read More »Software And Smart Phones Will Drive Mobile Payments, Report Says
Not every cog is in place yet, but payments from remote devices, especially so-called smart phones, are poised to grow from an estimated $389 million next year to $8.6 billion in 2014, according to a new report from Mercator Advisory Group. The report reviews the payments implications of new mobile …
Read More »Online Holiday Sales Track with Last Year, But Average Tickets Drop
Despite a sputtering economy, online merchants overall are breaking even with last year in terms of holiday sales, and the largest e-commerce sellers are running slightly ahead, according to statistics released this week. Web-based sales from Nov. 1 through Dec. 19 totaled $24.03 billion, a 1% decline from the equivalent …
Read More »RBS WorldPay Breach Rings Alarm Bells About Acquirer Security
The latest data-breach battleground has shifted to merchant-acquiring and prepaid card territory. Atlanta-based RBS WorldPay, a big acquirer owned by the Royal Bank of Scotland Group that also provides prepaid card programs, late Tuesday afternoon reported a breach of its computer system that may have compromised personal information on about …
Read More »No Letting up on the Merchant-Acquiring Throttle at Discover
As both a card issuer and payment card network, Discover Financial Services is feeling the sharp pinch of recession. Discover chief executive David Nelms indicated to analysts on Thursday that Discover would play a conservative game on the issuing side in 2009, but not necessarily so on the merchant side. …
Read More »Boston Transit System Tests Mobile Payments for Commuter Parking
It started not even a week ago, but a pilot program in which Boston-area commuters can pay for parking by mobile phone appears to be a hit with riders, according to early anecdotal feedback. “The buzz has been huge with customers, we've only been deployed for four days,” Ian Larrabee, …
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