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In a move aimed at addressing widespread fears about e-commerce security, MagTek Inc. has launched a company to commercialize its card-based authentication technology and leverage it for both online and point-of-sale transactions. Magensa LLC, a subsidiary of the Carson, Calif., maker of check scanners and card-terminal components, officially began operation …
Read More »Gift Cards, Web Shopping Will Be Big Winners in Holiday Season
A trio of studies released on Monday indicate the 2006 holiday-shopping season should be merry and bright for gift cards and Internet transactions. Gift cards will be the second most popular item on gift-givers' lists this year, edged out only by apparel, according to survey results from both American Express …
Read More »Order-Review Efficiency Rises for Online Sellers, But So Does Fraud
Online merchants' fraud losses will hit $3 billion in 2006, up 7% over last year, but the overall growth in e-commerce means fraud as a proportion of sales will dip slightly, to 1.4% from 1.6%. This mixed news comes as Web merchants adopt an increasing array of alternatives to bank-issued …
Read More »Online Resources Starts to Process Online Gift Card Orders
The links between the growing payment sectors of prepaid cards and online banking just got a little tighter with the creation by Online Resources Corp. of a new service that lets consumers buy private-label gift cards through their financial institutions' online banking and bill-payment sites. The service, called CardHQ, currently …
Read More »MODASolutions Joins the Incentive Parade for Online Payments
First came PayPal Inc., then Google Inc.'s Checkout service. Now MODASolutions, an Ottawa-based company that lets consumers pay e-retailers as if they were paying any other online bill, is offering incentives tied to the holiday-shopping season to promote alternative ways to pay online. But in MODASolutions' case, its SECURE-eBill service …
Read More »PayPal to Launch Promotion for Express Checkout Merchants
PayPal Inc. will pour as much as $100 million into a new promotional campaign aimed at driving traffic to merchant sites that accept PayPal. The campaign, which kicks off Nov. 23 and includes cash-rebate offers between $10 and $20 as well as free shipping when consumers use PayPal, is entirely …
Read More »Online Resources Gets Princeton eCom Boost, Points to New Products
Bill-payment processor Online Resources Corp. on Thursday reported sharply higher third quarter numbers for transactions, clients, and users as the Chantilly, Va.-based company for the first time included results from rival processor Princeton eCom Corp. Online Resources, which acquired Princeton eCom for $180 million this summer, also said its integration …
Read More »August’s Dog Days Brought Some Relief in Phishing Onslaught
August brought some relief in the generally rising onslaught of phishing, with the number of newly detected, unique Web sites hosting attacks dropping dramatically to 10,091 from a record 14,191 in July, according to the latest report from the Anti-Phishing Working Group, which monitors the online fraud. Similarly, the number …
Read More »PayPal’s off-eBay Campaign Begins to Register in Its Numbers
PayPal Inc. 2-year-old campaign to diversify its transaction-processing business beyond the online auction marketplace of its parent, eBay Inc., is starting to show results. Some 37% of the processor's payment volume in the three months ended Sept. 30 came from merchants outside of eBay, up from 32% in the year-earlier …
Read More »E-Retailers’ Appetite for Payments Hikes PayPal, Checkout Acceptance
It's not yet four months old, but already Google Inc.'s Checkout Internet payment service is making an impact, with 7% of online retailers surveyed in recent weeks by CyberSource Corp. having adopted it. That compares with 35% for PayPal, 24% for e-checks and other automated clearing house debits, and 16% …
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