A comparison-shopping application that works on mobile phones will soon tie into PayPal Inc.'s payment platform, blurring the distinction between online commerce and brick-and-mortar retailing and setting the stage for potentially big transaction volumes. Alexander Muse, co-founder of Dallas-based Big in Japan Inc., says he expects his company's ShopSavvy app …
Read More »Congress Mulls Alternatives to Unlawful Internet Gambling Ban
Although implementation of the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) begins Tuesday, the U.S. House Committee on Financial Services next week will hold a hearing on two bills that would replace or set a new date for implementation of the controversial gambling legislation. A hearing on the new …
Read More »As More Banks Fight ID Fraud, Many Still Lag in Alerts, Report Says
U.S. financial institutions have made considerable progress in fighting identity fraud, but still lag in their use of one of the most potent weapons in their arsenal: putting anti-fraud controls in the hands of the consumer. That's according to research released on Tuesday by Javelin Strategy & Research. The Pleasanton, …
Read More »Early Read on the Holidays: Tickets Drop As Transactions Climb
With one week to go until Cyber Monday, the e-commerce equivalent of the day after Thanksgiving in physical stores, the early read on the 2009 e-commerce holiday-shopping season is that it will probably continue 2008's trends. Last year was most notable for its decline in average tickets as consumers put …
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 »Merchant Attrition Is Top Challenge As Acquirers Look Ahead to 2010
Coming off a tough year in 2009, independent sales organizations and other acquirers rank merchant attrition and shrinking margins as their top challenges as they look ahead to next year. Acquirers also rank mobile-related products as their biggest emerging market for next year, while they plan to invest more in …
Read More »First Data Works with Accertify to Democratize Fraud Screening
First Data Corp. has begun integrating fraud-screening software from an outside vendor that it will offer on a per-transaction basis to its e-commerce merchants. The move brings the software, called Interceptas, within reach of tens of thousands of small online sellers at a time when online fraud is expected to …
Read More »Visa Warns of Suspect Web Marketers, Requires More ISO Disclosure
Visa Inc. is paying more attention to a broad category of merchants it dubs Internet direct marketers, according to a Visa security executive who spoke on Thursday to independent sales organization executives. These marketers bear many similarities to the often-suspect sellers of the 1980s and '90s who peddled their wares …
Read More »Payvment Uses a PayPal API to Launch a Next-Gen Shopping Cart
In a move that could change the way consumers shop and pay on the Web, a startup called Payvment is marketing a free shopping cart that lets online shoppers accumulate merchandise from a variety of Web sites?including Facebook?and then pay for all of it with a single checkout. “We call …
Read More »PayPal Unveils Platform X, And with It an Array of APIs And New Pricing
Hoping to inspire a burst of innovation beyond what it could expect to deliver within its own research-and-development budget, PayPal Inc. on Tuesday officially turned its global payment engine over to software developers with an array of new application programming interfaces (APIs). With the unveiling of the APIs, which took …
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