Newly released data shows that PayPal is up to five times more fraud-prone than regular credit cards, based on statements made by eBay to the Australian ACCC last year. Financial Fraud Action UK, the voice of the industry in the UK for financial fraud matters, (previously known as APACS) has published the latest payment industry [...]

Whilst the overall global economy has been at the forefront of financial news so far this year, I’ve noticed that the news-feeds are rapidly filling up with an ever-increasing number of stories focussed on the US Credit Card Industry. I’m not talking about panic depression about financial performance indicators and quarterly results worse than even [...]

The biggest data breach ever disclosed was announced on Tuesday, January 20th. A major payment processor, which claims that 40% of their processed transactions are from restaurants across the USA, admitted that tens of millions of credit and debit card transactions were compromised. This data breach disclosure event follows two other data breach events, in [...]

In an article titled “Credit Card Companies Go to War Against Losses“, Ron Lieber wrote for the New York Times about the actions that US credit card issuers are taking in an effort to reign in credit losses on their cards. According to Lieber, the steps the issuers are taking include; raising interest rates, lowering [...]

Citi has announced the first edition of a new quarterly report on its use of TARP funds. The report, titled “What Citi Is Doing to Expand the Flow of Credit, Support Homeowners and Help the U.S. Economy” (pdf document) includes a section on Citi’s credit card business, on page 23, where it states – “Citi’s [...]

A recent Auctiva Edu blog post caught my eye, while preparing for a week on BuildaSkill looking at the bank plastic industry and it’s future for small businesses.  The Auctiva post begins – Paper or plastic? Customers are used to hearing this question at their local grocery stores, but they also want the option when [...]

Technology Strategies International has released a report titled “Canadian Payments Forecast – 2009″. The report forecasts that the Canadian debit and credit card market will be hit by the decline in personal expenditure on consumer goods and services as a result of the economic downturn, but over the long term both forms of payment will [...]

Six of the largest US credit, debit, and charge card issuers have reported 4th quarter 2008 financial results this month. Included in their results are some steep drops in the purchase volume on the cards they issue – 6% at US Bank 7.6% at JP Morgan Chase 10% at American Express 10%+ at CapitalOne 15% [...]

This week in the Bloggosphere and beyond … I’m out of bed early today, so it’s another bumper issue week, with a focus on the payments industry and how it is coping with the global economic crisis, and the knock-on effects to online retailers and auction sellers.  There’s a heavy emphasis on how US consumers, [...]

Saturday’s New York Times included an editorial titled “Curbing Credit Card Predators” discussing the recent actions announced by federal regulators regarding credit card issuer practices and suggesting that more legislative action in needed in Congress to “to get fair, clear credit card rules that allow (Americans) to make informed spending decisions.” The editorial suggests that [...]

Keith Koenig of PayPal’s merchant services team has added a revealing post to the PayPal official blog today. Announcing the introduction of the PayPal MagneSafe Secure Card Reader, which looks like, and operates like, the portable card reader ProPay introduced recently. OK, I could be critical and cynical about ulterior motives etc. however I’d prefer [...]