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News

January, 2004

  • 30 January

    MBNA-AmEx Deal Helps Them More Than It Hurts the Bank Networks

    The card-issuing alliance American Express Co. and MBNA Corp. announced yesterday will benefit the two financial-services companies more than it will hurt Visa and MasterCard, some observers note. Although MBNA, second only to Citigroup Inc. as a credit card issuer, has already said it will seek to convert current cardholders …

  • 29 January

    MyDoom Hardly Makes a Dent in Web Performance

    MyDoom, characterized by many experts as one of the most virulent viruses ever to hit the Internet, has had only a slight impact on Web transaction speed and page availability, according to Keynote Systems Inc., a San Mateo, Calif., company that measures Web site performance. Keynote analysts credit the nature …

  • 29 January

    A Visa Member Letter Touches off A Debit Card Debate

    A brief reference to a rival debit card network in a recent document sent from Visa USA Inc. to its members has raised the hackles of the co-founder of that network and embroiled him in a debate with Visa USA chief executive Carl Pascarella over the risk associated with debit …

  • 28 January

    Continental Aims at a 20% Expansion of Its Kiosk Network

    Already the second-largest deployer of electronic ticketing machines at airports, Continental Airlines Inc. plans to add another 150 units this year, including some at international destinations. The first airline to deploy self-service ticketing kiosks nine years ago, Continental now has 779 online at 130 domestic airports, trailing only Delta Air …

  • 27 January

    Yankee Group Charts the Rise of Outsourced Network Security

    As network security managers scramble today to combat the so-called MyDoom virus, one of the most malicious network attacks security experts have seen yet, the Boston-based consulting firm Yankee Group has released a report predicting that the frequency and virulence of such incidents will create a flourishing new market in …

  • 27 January

    A New Online Processor Charts An Ambitious Course

    Digency Inc., an El Dorado Hills, Calif.-based third-party processing startup specializing in Internet payments, has begun processing transactions for a handful of merchants and now looks to execute an ambitious business plan that calls for the company to earn $13 million in fee revenue in 2004 from some 240 online …

  • 23 January

    AmEx Looks to Have Its First Bank Issuer by Year’s End

    American Express Co. says it will be a matter of “months,” not “years,” until banks in the United States are issuing the company's card products now that the U.S. Second Circuit Court of Appeals has thrown out a motion from Visa International Corp., Visa USA Inc., and MasterCard International Inc. …

  • 22 January

    Prepaid Plastic Zeroes in on the Payroll Market

    With gift cards accounting for more than $17 billion in retail sales, or about 8% of merchants' total take, during the recent holiday shopping spree, according to the National Retail Federation, the plastic has become a star in the electronic transaction firmament. But while gift cards are stealing the headlines, …

  • 22 January

    Network Security: One Step Ahead of the Bad Guys?

    This week's outbreak of yet another computer-network virus has served as a reminder to the online transactions industry that the networks they rely on for e-commerce?and increasingly for ATM and point-of-sale traffic?are vulnerable to malicious code. Although the latest outbreak, called the “bagle” virus, was quickly brought under control after …

  • 22 January

    NACHA Adopts a Third-Party Processor Rule

    The Herndon, Va.-based National Automated Clearing House Association announced its members have approved a new rule governing third-party processing of automated clearing house (ACH) transactions. The rule, an amendment to the NACHA Operating Rules that goes into effect next December, requires that third parties agree to be bound by the …

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