December was an ominous month for banks, retailers, processors, and other service providers concerned about the safety of the Internet commerce channel. Although the reported number of phishing incidents declined in the last month of last year, that drop masked alarming increases in the number of malicious Web sites launching …
Read More »SMS-Based Promotions Fuel Grocer’s Interest in Cell-Phone Payments
Four months after introducing a marketing system that communicates with customers' mobile phones, Broadway Marketplace has had such positive sales results its top executive says the Cambridge, Mass.-based supermarket will add an electronic payment function within the next two months. The store, which last September began using a service called …
Read More »With GE Consumer Finance, AmEx Claims Seven Bank Card Issuers
American Express Co. has announced the seventh financial institution to agree to issue AmEx cards since the New York-based travel-and-entertainment giant began courting banks for its network two years ago. GE Consumer Finance, a Stamford, Conn.-based unit of General Electric Co., said it will issue cards on AmEx's network that …
Read More »TextPayMe Aims Its Nascent Cell-Phone P-to-P Service at Web Markets
A tiny startup in Redmond, Wash., has signed up about 500 users for its week-old person-to-person payment service based on mobile phones and expects to launch a commercial service in 2006. With a head count of three, including two former Microsoft Corp. employees, TextPayMe Inc. allows individuals with cell phones …
Read More »Survey: Popularity Propels Gift Cards into Consumer Mainstream
Some 59% of adults, or an estimated 131 million people?either bought or received a gift card over the year from August 2004 to August 2005, a study released today reveals. In part, this has meant that the electronic stored value cards are gaining popularity as gifts for a more diverse …
Read More »New Research Unveils Big Challenges for Mobile Content Market
Separate reports released this week show that the market for mobile content?everything from games to ring tones to video clips and beyond?may have farther to go than previously supposed by those who see the market as a nascent source of micropayments. Also, other research reveals content marketers may have to …
Read More »I4 Commerce Reports Bill Me Later Growth, Looks to Debit, Prepaid in ’06
Reporting rapid growth for its payment service and rising interest in a new marketing and finance platform it rolled out last month, I4 Commerce Inc. says it will begin next year expanding into new payment channels, with debit and stored-value ranking as distinct possibilities. The company will end the year …
Read More »Good News: Phishing Incidents Decline. Bad News: Malware Use Is up
Recent reports concerning the dual online threats of phishing and malware indicate mixed news: the phishing threat is down as measured by number of incidents, but fraudsters' use of malicious code to steal passwords and re-direct unsuspecting Web users is increasing steadily. Postini Inc., a Redwood City, Calif.-based producer of …
Read More »Chase Brings ‘Blink’ to Loyalty Cards with Contactless United Card
JPMorgan Chase & Co. has installed contactless payment technology in the cobranded Visa credit card it issues with United Airlines Inc. The new card, said to be the first airline loyalty card to feature the technology, is part of an ongoing launch the bank has conducted since May of cards …
Read More »Citi Plans to Roll out 2.5 Million PayPass Key Fobs for RFID Debit
Citigroup Inc. plans to roll out 2.5 million key fobs for contactless debit card payment following a launch of the technology this fall in the New York area, the banking giant announced today. The so-called tap-and-go transaction devices will fit on consumer's keychains, and will be based on MasterCard International's …
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