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A Hampton, Ga.-based processor that has tried for four years to bring to market a system to enable on the Internet debit card transactions linked to personal identification numbers may be close to signing an additional network for access to PIN debit accounts. Kryptosima, a unit of InstaPay Systems Inc., …
Read More »Canadian Banks Will Launch PIN Debit for the Web Next Spring
Canada's five major banks next spring will roll out a service that will allow consumers to pay for goods and services on the Internet with debit cards linked to personal identification numbers. The service, called iDebit, has been at least 18 months in the making and is expected to be …
Read More »Challenged by 3D Secure, Orbiscom Touts Proxy Numbers
Despite widespread industry perceptions that 3D Secure technologies are rendering proxy payment numbers obsolete, the primary vendor of such single-use-number technology says its system remains highly attractive to card issuers looking for ways to encourage customers to spend on the Internet. “I feel very bullish about our product,” says Diane …
Read More »Websnare Helps, But Internet Fraud Fight Is Far from Over
The arrests announced yesterday by the federal government in an operation directed against e-commerce fraud is cause for optimism, but there's still plenty to keep online merchants up at night, according to a key executive who helped carry out the latest law-enforcement action. The government's Operation Websnare led to the …
Read More »ReD Looks to Add on Payment Types to Build Online Business
PayPal isn't likely to be the last new payment channel Retail Decisions USA Inc. adds to its transaction products for online merchants. The Hazlet, New Jersey-based unit of Retail Decisions PLC in the U.K. announced earlier this month it was adding PayPal acceptance to its transaction-processing software, LiveProcessor, and its …
Read More »Keynote Will Test Credit Card Sites as Cardholders Move Online
With an increasing number of consumers checking credit card statements and paying bills online at credit card issuers' Web sites, Keynote Systems Inc., San Mateo, Calif., announced it will begin measuring the speed and reliability of nine sites as part of a benchmarking index. The company, which specializes in measuring …
Read More »With Gateways Under Pressure, Authorize.net Tries to Reinvent Itself
As transaction processors add services to their basic product, they put increasing pressure on gateway providers to differentiate themselves. One of the most ambitious strategies for differentiation is being pursued by Authorize.net Inc., acquired this spring for $82 million by Lightbridge Inc., a Burlington, Mass.-based provider of billing and fraud-management …
Read More »Mer-Tec Gets Set to Grab a Share of the Micropayments Market
Competition in the nascent market for micropayments, or transactions of $5 or less, is about to become even more heated. A 10-year-old maker of e-commerce systems for retailers says it is 30 to 45 days away from introducing a micropayments product that will be tied to prepaid consumer accounts and …
Read More »Phishing Attacks Climb 19% in June As Citi Again Tops Target List
The Internet scam known as phishing continued to grow in June, jumping 19% from May to 1,422 unique attacks, according to The Anti-Phishing Working Group, which tracks the fraud. Attacks have increased at an average monthly rate of 52% since the group began keeping statistics last fall. For the third …
Read More »Reeve Quits Lightbridge Four Months After Buying Authorize.net
Pamela D.A. Reeve, long-time president and chief executive of Lightbridge Inc., has resigned from the Burlington, Mass.-based company, which this spring acquired Authorize.net, a major transaction gateway for Internet merchants, from Infospace Inc. Lightbridge announced that Robert Donahue, a member of the company's board, would step in as interim president …
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