Digital Transactions Authoritative, insightful and timely information for payments professionals
With the traditional lines between e-commerce and the point of sale blurring, a Boston-based startup on Tuesday introduced a mobile wallet that lets consumers shop at multiple stores, both brick-and-mortar and online, and skip past checkout lines. AisleBuyer LLC’s app, which works on iPhones and handsets running Google Inc.’s Android …
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Getting on the Out-of-Band Bandwagon
Security Peter Lucas While it’s effective against malware like the pesky Zeus Trojan, banks have been slow to adopt out-of-band authentication. Now, with mobile and P2P applications growing, that may soon change. Imagine the following scenario: A cybercrook plants a malware Trojan, infamously known as Zeus, in the Web …
Read More »Why EMV Chip And PIN Is Still Homeless in the United States
Endpoint A few smaller banks get it, and have issued EMV cards to their customers who travel abroad. But most bigger banks are still on the sidelines. We’re still stuck with the mag stripe and all of its attendant problems because the big banks have too great a stake …
Read More »RSA Breach Sends ‘Wake-up Call’ About Vulnerability of Two-Factor Authentication
It’s big news, not to mention a major embarrassment, when a leader in data security itself becomes a victim of a serious breach. That was the case for RSA, which stores the tokens widely used by financial institutions as a second factor of authentication for online-payment transactions. In the breach—announced …
Read More »Prepaid Cards’ Big Bullseye
Can the fast pace of innovation that has characterized the prepaid card sector in recent years continue as lawmakers and regulators increasingly target the business? By Linda Punch After years of skirting the edges of the industry, the prepaid card market finally is getting a toehold in the mainstream of …
Read More »A ‘Bill Me Later’ for Bill Pay Launches with a $4.5 Million Warchest
BillFloat Inc. launched its service this week with a hefty vote of confidence from initial investors that include PayPal Inc. and a business proposition that grants spot credit to hard-up consumers so they can delay paying their bills. Like Bill Me Later, which grants so-called transactional credit for online purchases, …
Read More »Despite the Recession, Online Fraud Takes a Dip in 2009
It often seems impossible to thwart online fraudsters, but e-commerce merchants made headway in the past year, according to CyberSource Corp.'s 11th annual study of e-commerce fraud. For the first time in four years, U.S. and Canadian merchants reported a decline in the average percentage of online revenues lost to …
Read More »NACHA Proposes to Use WEB for Mobile Payments, for Now
The rules-setting body of the automated clearing house plans to classify mobile ACH transactions under the existing WEB code rather than create a new code for such payments, at least for the short term. Mobile payments could get their own code some time after 2010. Those ideas are part of …
Read More »Kemesa Looks to Banks to Help Sell Its New Online Security Tool
Kemesa LLC entered the war on online fraud on Monday with a product that allows consumers to pay e-commerce merchants using so-called anonymous data that would be useless to cyber thieves. The Aventura, Fla.-based startup says it plans to market the product to consumers through their financial institutions and is …
Read More »How Verient Combines Security And Customization in Cards
Verient Inc. is the startup behind SafeDebit, NYCE Payments Network LLC's effort to allow consumers to use their NYCE cards on the Internet (Digital Transactions News, July 2), but the company's ambitions go well beyond enabling debit-based e-commerce. By the end of the year, it expects to have between 3,000 …
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