A new poll finds that 96% of American women who have shopped online in the past 12 months have purchased at least one product over the Web. Most online shoppers do both their product research and shopping online while 31% do their research online and then go to a store to buy. The poll conducted by Consumer Reports National Research Center for ShopSmart magazine also found that women spend an average of 1.2 hours per week shopping online. Despite the amount of time women are spending online, one-third said they had a negative online experience. Among those women, 20% said they never got the item they ordered. Another 13% said the merchandise was very different than represented. And, 451,588 American women claimed to have had their credit card number stolen online in the last 12 months.Details
RIA Envia, a money transfer subsidiary of Euronet, has signed
agreements for sending money transfers to Mexico on the Banamex
network. RIA has
41,000 money transfer agents in more than 95 countries and territories
and processes approximately $4.5 billion in money transfers annually.
Originating money transfers across 13 countries in North America, the
Caribbean, Europe and Asia, the company terminates transactions
through an extensive payer network across 85 countries. Banamex,
owned by Citigroup, has a network of over 1,500 bank branches and
more than 3,000 Banamex non-bank locations in Mexico.
Affiliated Computer Services(ACS) has signed a 6.3 million euro contract
district councils of Nancy, France to provide the ACS “ATLAS” contactless
ticketing system. “ATLAS” combines magnetic and contactless ticketing
equipment. The equipment is compatible with both the new ticketing
traditional magnetic tickets of which over 800 are to be installed on
and approximately 300 on buses in the area. ACS will also provide dashboard-
devices called the “ACS Proxibus CPE 020” compact console, a ticketing
console and an operation-aid system with an integrated Global
In the virtual world of Linden Lab, Wirecard Bank has opened a branch
in the online world of “Second Life”, the first of German banks to do so.
Sales revenues with online games in 2006 were up over a third year-on-
year, to reach 3.4 billion euros and research shows that in five years
worldwide market volume is to increase to approximately ten billion euros. “Second Life” has over six million members and a daily trading volume of 1.5 million U.S. dollars. Wirecard Bank service personnel are
represented by avatars in the branches to assist customers with questions on services to also be available through “Second Life”. Interactive entertainment serves to offer Wirecard Bank AG an island of its own in the interactive program.
Fair Isaac Corporation has announced that its fraud detection
technology will be available on their solution, “Faster Payments”.
The core functionality of “Faster Payments” fraud coverage
builds upon the proven transaction analysis capabilities of Fair
Isaac’s “Falcon” for Online Access solution.
The solution analyzes the risk of each funds-transfer in real time,
reviewing the sender’s and receiver’s account profile stopping the
payment with any detection of fraud. The information is then sent to a
fraud analyst for further review. The solution can be applied to
transactions channels other than just card transaction channels, such as
telephone and bank branches.
Gemalto has been chosen by LifeNexus to provide technology and professional services for its “LifeNexus Personal Health Card”. The new program is based on the patented “LifeNexus Personal Health Card” equipped with Gemalto’s “.NET” technology to enable secure storage of health and financial information. Consumers will use the LifeNexus card to keep track of their personal health information, give it to healthcare providers when needed, and then pay for services. Gemalto’s digital security solution also protects the privacy and security of the cardholder. Gemalto provides digital security solutions.Details
The Commercial Bank of Qatar has launched its first EMV smart card on
TSYS’s “PRIME” card-management solution. CBQ plans to roll-out
a multitude of EMV chip card products this year, including credit,
debit, charge and prepaid cards. The bank recently completed
certification with MasterCard “M/Chip” and “VISA Smart Debit Credit”
card issuing. The “PRIME” card system is offered TSYS Card Tech, formerly known as Card Tech Limited. In Qatar alone, TSYS Card Tech clients include the top four banks, which have combined assets of 85% of the market share.
A Manulife Bank Survey reveals that 48% of Canadians open bank accounts
and products as needed, without a strategy, losing an average of $1,000 a year through poor debt and short term asset management. Furthermore, of the 87% with a checking account, 96% also have a high interest savings account. While the average number of bank credit cards per respondent was just over 1, 93% of those also held department store or gas company cards. Of the 30% who said they have a mortgage, 45% also have a line of credit. The average Canadian has 8 different bank products across multiple bank accounts. For this reason, Manulife bank has introduced an ‘all-in-one’ account, which 40% said
they would consider opening to save money on fees and the like.
Las Vegas-based Cash Systems has announced first quarter 2007 revenue was $25.5 million, an increase of 25%, compared to $20.5 million in the first quarter of 2006. The Company reported a loss of $268,021 from operations of in the first quarter of 2007 compared to loss from operations of $1.5 million in the prior year period. Net loss was $1.4 million, or $0.08 per diluted share, compared to net loss of $1.2 million or $0.07 per diluted share in the first quarter of 2006. The Company’s long-term EBITDA margin target is 10% to 12%. Although the Company does not expect to achieve its long-term EBITDA margin target in 2007, the Company does expect EBITDA to be positive in every quarter of fiscal 2007 and the second half of the year should reflect new product introductions and their positive contribution to margins. Cash Systems is a provider of cash-access and related services to the retail and gaming industries.Details
ViVOtech has announced that the “ViVOpay 5000” Contactless Reader
of VISA’s Globally Interoperable Contactless Payment Specification has
received VISA Asia Pacific Level 3 Type Approval. This VISA approval
recognizes the reader as an industry standard that has undergone rigorous
testing demonstrating software stability, card data security and
interoperability. The “ViVOpay 5000” reader is compatible with all
worldwide contactless payment programs run by major organizations,
directs consumers through the contactless buying process with helpful
prompts, offers low-cost upgrading to existing POS systems, and has an
expandable memory slot for additional applications. Vivotech currently has
more than 250,000 NFC units in 22 countries.
Consumer Action and American Express have expanded their jointly developed credit card education program, “Credit Cards: What You Need to Know,” and scheduled three additional free training events in Plantation, Florida; Phoenix, Arizona and Birmingham, Alabama. The program is centered on a training module with a curriculum and educational brochures, translated into five languages, that are distributed to the more than 9,000 community-based organizations within Consumer Action’s network to educate consumers about how to best choose and use credit cards. Last year, American Express and Consumer Action awarded $82,250 to 30 agencies that had been trained at the project’s training meetings to support their own education activities and the use of the materials. American Express and Consumer Action launched the program in 2005. Consumer Action is a non-profit 501(c)(3)advocacy and education organization. Consumer Action conducts surveys of credit card rates and terms, tracks trends in the industry and assists consumers in comparing cards and understanding their rights when using credit.Details