All articles by Charles Davis
Charles Davis
e-payments move beyond banks
Financial institutions may still be the first-choice providers of electronic payment services, but new research suggests that their dominance is being challenged by more technologically aware innovators.Charles Davis investigates the new kids on the e-payments block But the bank-centric model for online bill payment at financial institutions has stagnated, and is being challenged by a host of innovators seeking to streamline the model by combining it with other payment services, or by linking bill payment to data storage, personal finance management and other services.
Ahead of the game
The new online security rules announced last year by the Federal Financial Institutions Examination Council have seen financial institutions scrambling to keep pace. But one US bank National Penn Bancshares is a long way ahead of the rest of the field, writes Charles Davis.
M-payments fraud rising, says report
A survey has claimed mobile payments face far higher card-not-present fraud threats than any comparable category. Charles Davis looks at how US retail fraud is affecting merchants, financial institutions and consumers; and why many merchants are still interested in accepting m-payments despite these findings.
Going global
Payment processor TSYS has gone global in a big way, diversifying its income streams in the face of new regulations, rising consumer defaults and declining credit card-based spending. Charles Davis reports on the firms recent expansion into Europe, Latin America and Asia.
Transfer by text at Obopay
Obopay is trying to simplify its payments system with text messages. The company has refined a tool that can initiate transfers with texts, one of several efforts Obopay is making to shed the inefficiencies of its original consumer-facing mobile payments system. Charles Davis reports.
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Banks make Swift entry into remittances
Swift has launched a new system for banks to extend their remittance businesses into new markets. It claims the standardised format can cut set-up times from six to two months and reduces fees, including legal fees, by as much as 80 percent. Charles Davis reports.
WePay’s P2P collection tool for clubs
WePay, whose service allows consumers to create free FDIC-insured accounts, has PayPal in its sights, as Charles Davis reports. WePay has introduced an online person-to-person payment service that enables groups and individuals to collect, manage and spend money easily, all fueled by electronic payments
VeriFone goes retail
VeriFone, the terminal and software vendor, is offering mobile phone payment terminals to consumers through Apples retail stores in an apparent change of strategy It is also offering a secure card reader for VeriFones gateway payment service. Charles Davis reports.
Criminals intensifying their offensive
Backed by increased sophistication and spurred on by the weak economy, criminals once again took payments fraud to new highs in the US in 2009, reports Charles Davis However, providing some hope were bank successes in detecting fraud and a significant increase in prosecutions and convictions. Already a scourge on the minds of payments executives, identity fraud shows no signs of slowing despite industry-wide fixation on stopping data crimes
Hypercom declares war on card fraud
Responding to the card industrys need to fight fraud, Hypercom is bringing its Asia-Pacific-based EFTSec Server payment data encryption technology to North America, Latin America and Europe.