News

March, 2007

• 29 March

  Scope of TJX Breach Has Some Questioning Attainability of PCI

  The startling size of the TJX Cos. Inc. data breach–at least 45.7 million credit and debit cards compromised–has some electronic-payments experts wondering whether the card networks will ultimately succeed in winning merchant compliance with their data-security rules. “If a major U.S. retailer cannot have its house in order, how can …
• 27 March

  Eye on M-Commerce: Firethorn, Metavante, ViVOtech, MobileLime

  It has been a busy week for mobile banking and payments, with an announcement from Firethorn Holdings Inc. about new bank and carrier signings; from Metavante Corp. about a joint venture to launch a U.S. mobile-payments service; from ViVOtech about a new service to allow over-the-air provisioning of event tickets; …
• 27 March

  Web Gambling Torpedoes ECHO’s Deal To Be Acquired by Intuit

  Merchant processor Electronic Clearing House Inc. and accounting-software giant Intuit Inc. on Tuesday announced that their planned $142 million merger is off. ECHO chairman and chief executive Joel M. Barry laid much of the blame on a federal investigation into Internet gambling that will involve a $2.3 million settlement from …
• 26 March

  Recent Breaches Could Be a Bonanza for a Startup Security Vendor

  Recent cases of card-data theft from retailers?and the publicity surrounding them?are apparently generating opportunity for startup security-software companies. “More and more retailers are looking for ways to prevent breaches,” says Mark Buczynski, vice president of marketing at BitArmor Systems Inc., a 4-year-old, Pittsburgh-based company that markets encryption software it has …
• 26 March

  Morgan Stanley Outlines Risks for an Independent Discover

  Broadening merchant acceptance and negotiating the shoals of merchant pricing will be key parts of Discover Financial Services LLC's strategy to survive and grow once parent company Morgan Stanley spins off the No. 4 payments network. Morgan Stanley, a New York City-based investment bank, late on Friday filed a document …
• 26 March

  Current ACH Risk-Management Proposal To Be Followed by Two More

  Proposals to print originators' names on statements and to make compliance audits hinge on the kind of transactions banks are originating are set to follow a current proposal from NACHA-The Electronic Payments Association to increase penalties for unauthorized transactions on the automated clearing house network, according to a NACHA official. …
• 22 March

  A Startup Pitches Revenue from Receipt Ads to Merchants

  DreamPlayVentures, a Cedar Knolls, N.J.-based startup, is talking to transaction processors and retailers about a product that would let merchants generate revenue by selling advertising space on credit and debit card receipts. The firm this week reported that its parent, DreamPlay LLC, has filed a patent application describing its underlying …
• 22 March

  POP Continues Its Rebound, But Will BOC Take a Bite?

  The automated clearing house's point-of-purchase electronic-check code in 2006's fourth quarter once again posted the highest growth rate among the various e-check codes, but the new back-office conversion (BOC) application that went live March 16 could soon claim POP's place in the sun. According to new data from Herndon, Va.-based …
• 21 March

  Phishing Sets Record As Fraudsters Link Hands Across Borders

  The volume of unique phishing attacks hit an all-time high in January, while fraudsters broadened their reach to spoof Web sites they hadn't targeted before, such as social-networking and gambling sites, according to a group that tracks phishing fraud. The number of unique phishing e-mails hit 29,930, up 26% over …
• 20 March

  A Telecom Processor Rolls out Gateway with Online Phone Billing

  A San Antonio, Texas company that specializes in clearing and settling consumer charges for telecommunications companies has signed up seven sellers of digital content for a new online payments gateway that lets users charge downloads to their phone bills. The seven undisclosed merchants are the first clients for what BSG …