Tuesday , July 17, 2018

E-Commerce

ReD Beefs up Technology to Combat Growing Swarms of Fraudsters

E-commerce gateway Retail Decisions Inc. has announced enhancements to its anti-fraud technology that will, among other things, cut the number of transactions online retailers must refer for manual review by up to 30%. The Hazlet, N.J.-based operating unit of U.K.-based Retail Decisions PLC has integrated neural-networking technology called Prism and …

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PayPal Says It Will Stop Blocking of Payments Backed by Credit Cards

PayPal Inc. has announced it will no longer allow sellers that have bank accounts registered with the San Jose, Calif.-based processor to block payments funded by credit cards, effective next month. Sellers' ability to refuse such payments has been part of the company's “Payment Receiving Preferences” policy for so-called premier …

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eFunds Buys ClearCommerce, Picks up CNP Anti-Fraud Expertise

eFunds Corp. today announced it is buying ClearCommerce Corp., an e-commerce transaction gateway specializing in online fraud detection and prevention, for $19.4 million in cash. The deal is expected to close by March 31. By acquiring Austin, Texas-based ClearCommerce, eFunds picks up anti-fraud products and expertise for the card-not-present market, …

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Half of Online Banking Customers Are Phishing Targets, Survey Shows

Half of online banking customers now receive fraudulent e-mails, known as phishes, and 78% say they are less inclined to respond to e-mails from the banks they do business with. That's according to a study released by New York-based security software company Cyota Inc. that illustrates how much worse the …

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USPTO Will Re-Examine CyberSource’s Patent at ReD’s Request

The United States Patent and Trademark Office has said it will re-examine a patent granted in 2000 to CyberSource Corp. that lies at the heart of a patent-infringement suit the Mountain View, Calif.-based processor filed last August against rival Retail Decisions PLC (ReD) and its U.S. operation, Retail Decisions Inc. …

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Visa: Consumer Spending Surged in Stores on Christmas Eve

Consumer holiday spending surged ahead on Christmas Eve, according to new data released over the weekend by Visa USA. The card company says total spending on its credit and online and signature-based debit cards last Friday came to more than $4.35 billion, up 11.7% from Christmas Eve last year, ranking …

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LexisNexis Looks to ID for Transactions As Its Next Step

With the unrelenting rise of phishing attacks, banks and merchants are hunting for new ways to secure the identity of consumers in online transactions. That's creating opportunities for companies like LexisNexis, proprietor of one of the world's largest databases of public-record information. Now the company's RiskWise unit is looking at …

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Popularity of Gift Cards May Cause a Problem for Online Merchants

The expected surge in gift cards received this holiday season may cause a problem for online merchants that try to match billing addresses given by consumers at checkout with those on file with issuers before authorizing transactions, says ClearCommerce Corp. Online retailers will usually set their address-verification systems (AVS) to …

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Visa Logs Busiest Weekend Yet for This Year’s Holiday Season

Visa U.S.A. says spending on its cards over the past weekend was the strongest yet seen this holiday shopping season, exceeding spending during the so-called Black Friday weekend after Thanksgiving by 15%. Indeed, Black Friday itself now ranks third in Visa spending, behind the volume reached this past Friday and …

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BitPass Rolls out a Hosted Service for Small Sellers of Digital Content

Bitpass Inc., a 2-year-old processor of micropayments on the Internet, has rolled out a new service allowing individuals and small businesses to sell music, photos, or other digital content without creating an e-commerce site. Palo Alto, Calif.-based Bitpass says it will host the content for sellers and handle payments, “from …

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