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Two rival online payment companies in Canada are making moves to expand the market for Web-based debit payments to the U.S. Toronto-based UseMyBank Services Inc. has linked with processors in both Europe and the U.S., while Othentik Technologies Inc., Montreal, has signed a deal to license its software to US …
Read More »Paymentech Breaks into Small Payments with Pepsi Vending Deal
Paymentech L.P. is breaking into the market for small-value transactions with an agreement it announced today with Pepsi Cola North America to process credit and debit card payments at vending machines. Pepsi bottlers have deployed “several hundred” machines in high-traffic locations in the U.S., such as malls, hotels, and casinos, …
Read More »Visa’s Web, QSR Volume Get a Big Boost from ‘Black Friday’ Activity
Merchant channels that are converting to electronic payments, such as fast food, or are heavily dependent on them, such as the Internet, continue to benefit from the impetus lent by the holiday shopping season. Visa USA's credit and debit card statistics for so-called Black Friday, the day after Thanksgiving, indicate …
Read More »Visa Report: Early Holiday Spending Drives Big Jumps in Transactions
With a month to go until Christmas, holiday spending by consumers is driving double-digit increases in electronic transactions, according to the latest report from Visa USA, which is tracking spending on its cards each week from early November until early January. Total spending on all Visa-branded cards hit $23.1 billion …
Read More »Phishing Sites Multiply, Taking a Toll on Online Transaction Potential
Recent survey statistics document a continuing rise in both phishing sites and attacks, and underline the toll such security problems are taking on consumer confidence when conducting online transactions. In its latest report, the Anti-Phishing Working Group says the number of unique Web sites engaged in phishing fraud jumped to …
Read More »Equifax Touts a ‘Secret Question’ Test for Online Authentication
With concern mounting about the adequacy of commonly used authentication technologies in online transactions, a technique devised by a major credit-reporting agency to secure the sale of consumer credit reports online is finding adoption among financial institutions and could appeal to Internet merchants. Equifax Information Services LLC is actively licensing …
Read More »Valista Breaks into U.S. Web Payments with AOL Premium Content Deal
America Online Inc. will begin offering packages of premium content on its Internet service through new software from Valista Ltd., an Ireland-based payment software company, the companies announced today. The new solution allows AOL to target and price particular packages, or bundles, to particular audiences, with special promotional pricing and …
Read More »Fraud Losses Have Climbed 37% for Online Merchants, Survey Says
Fraud losses will total $2.6 billion in 2004 for Internet merchants, 37% higher than last year, with smaller merchants suffering the worst fraud. That's according to the sixth annual survey of online fraud from CyberSource Corp., a Mountain View, Calif.-based transaction gateway for e-commerce sites. The survey, which gathered responses …
Read More »Criminals Escalate the Phishing War with an Alarming New Weapon
Up to now, phishing schemes only worked if the fraudsters could entice recipients of their e-mail to visit transaction sites tricked up to look like the real thing, such as a fake eBay site or spoofed online banking site. The sites would collect login and other confidential information the criminals …
Read More »VeriSign Expects Its New Seal to Spread Rapidly on E-Commerce Sites
VeriSign Inc. says heavy promotion it's putting behind its new trust mark for e-commerce will drive the number of payment-gateway client sites displaying the mark from 40,000 currently to more than 70,000 by year's end. And it expects that number to double by the end of 2005. The Mountain View, …
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