 |
25 May 2004 09:14 AM
|
|
|
Banks’ IT Spending To Reflect Business Goals :
|
|
|
As US banks move to align their business and IT strategies, Datamonitor has predicted IT spending by US banks to total USD 37.8 billion by 2006, up from USD 33.5 billion in 2003. Banks’ need to offset shrinking revenue and profit
|
|
|
24 May 2004 08:25 AM
|
|
|
Major UK Retailers Now Gearing For Chip and PIN :
|
|
|
By end-2004, UK card association, APACS, is aiming to chip-enable 42 million credit and debit cards, and to date, one in three cardholders hold a chip and PIN card, according to APACS’ latest ‘barometer’. The rollout of
|
|
|
24 May 2004 08:18 AM
|
|
|
Overseas Money Transfers Possible At Grocers :
|
|
|
International remitters living in the US can send money abroad from their local grocery store with the Poni PIN card from American Cash Exchange, which is offered as the first POS-based foreign money transfer product.
|
|
|
24 May 2004 08:15 AM
|
|
|
Banks Can Use Check 21 To ’Regain Payments’ :
|
|
|
Check 21 will act as a ‘tipping point’ for banks to “pave their own way back to a position of preeminence in payments” while speeding the elimination of paper from the payments system, according to solutions firm, Carreker. Payments amount to a USD 600 billion business globally, of which the US accounts for about a third, or USD
|
|
|
21 May 2004 10:42 AM
|
|
|
Japan’s CardNet To Route Card Data Via Internet :
|
|
|
Japan’s CardNet, operated by Japan Card Network Co, is to use the Internet to enable retailers to send credit card data to the credit card companies for processing, in place of current ISDN (integrated services digital network
|
|
|
21 May 2004 10:29 AM
|
|
|
EU Banks Choosing Step2 As A Common Platform:
|
|
|
Six of the ten new EU countries affirmed their readiness to join the Step2 euro payments system shortly after accession on May 1, with 19 banks in line to join as indirect participants, according to Electronic Payments International.
|
|
|
20 May 2004 05:52 AM
|
|
|
Wachovia To Roll Out Digital Certification Internally:
|
|
|
US bank, Wachovia, is using software from RSA Security to centralize the administration of its digital certificate program and verify the identity
|
|
|
20 May 2004 05:38 AM
|
|
|
BONY To Use Internet To Speed Exception Items :
|
|
|
The Bank of New York is enabling its treasury management clients to process exception items on a same day basis and to access archived material
|
|
|
20 May 2004 05:36 AM
|
|
|
Banks Need Payment Volume To Retain Revenues:
|
|
|
As e-payments eat into the share held by paper payments, banks have to react on behalf of the entire institution, and offset lost revenues by identifying new businesses such as cash forecasting, liquidity or risk management, according to Treasury Strategies. Banks need to grow their payment volume by 6 per cent a year to keep their
|
|
|
19 May 2004 06:31 AM
|
|
|
Virtual Card Numbers A ’Stunt Double’ For Security :
|
|
|
Credit card issuers Citibank, MBNA and Discover are offering what the New York Times terms a ‘stunt double’ for online shopping, namely virtual credit card numbers that are valid for only one purchase. Disposable card numbers are a solution to the risk of hacking, and of online identity theft, since not all of the 400,000 e-tailers in the US
|
|
|
19 May 2004 06:02 AM
|
|
|
UK Banks Can Use Chip & PIN To Combat Phishing :
|
|
|
Chip and PIN payment systems offer banks a solution to the threat of ‘phishing’, or the fraudulent online solicitation of consumers’ financial details by hackers masquerading as a genuine online entity, according to consulting
|
|
|
19 May 2004 05:56 AM
|
|
|
Core Systems A New Priority For European Banks :
|
|
|
Banks in Europe are expected to prioritize core systems replacement as a near-term project, in light of past mergers, and the imminent entry of EU accession countries to the pan-European banking system. With overlapping
|
|
|
18 May 2004 05:54 AM
|
|
|
Security Issues Do Not Deter Internet Consumers :
|
|
|
Existing online shoppers will increase their Internet purchasing activity in 2004 despite the growth of ‘phishing’ or spoofing scams, according to a recent AC Nielsen study commissioned by eBay and PayPal. Of 1,000
|
|
|
18 May 2004 05:38 AM
|
|
|
Japan’s Carriers, Issuers Exploring M-Payments :
|
|
|
High market penetration of cell phones in Japan is fueling several payment initiatives, in which Visa International, local operators and banks are participating, according to Electronic Payments International. In
|
|
|
18 May 2004 05:21 AM
|
|
|
Solid Growth Seen In US Corporate Payable Market :
|
|
|
Increasing e-payment share in the B2C and B2B markets will ensure future growth in the US corporate payables market, according to JP Morgan Chase, particularly in the recurring payments sector. By 2005, JP Morgan Chase
|
|
|
|
|
|
|