09 Aug 2004 03:50 AM

MasterCard sees the Latin American/Caribbean region as having the best growth potential in the world for its business, given the low bank penetration, growing card culture and improving economies. The LAC region currently accounts for 12 per cent of MasterCard's total billing volume, but this share is expected to grow strongly

06 Aug 2004 05:20 AM

With 10 billion electronic transactions cleared every year across the US payments system, the Federal Reserve has warned banks of an increase in unauthorized checking-account debits and fraud. The introduction of the Check 21 Act on October 28 heightens the risk of checking-account fraud as banks will no longer

06 Aug 2004 02:45 AM

Debit cards are growing as the most popular consumer payment option, and as such, banks and credit card issuers are having to adapt their strategies to the implications of this growth. At end-2003, Visa International reported that for the first time, its global debit volume had surpassed its credit card volume at a respective USD 1.48 trillion

05 Aug 2004 03:44 AM

By 2009, the Internet- and mobile phone-based micropayments market in the US will grow at a 23 per cent CAGR, to USD 11.5 billion in revenues, up from USD 2 billion in 2003, according to TowerGroup. Internet publishing and digital media services drove Internet-based micropayments, or transactions of under USD 5, to USD

04 Aug 2004 06:29 AM

Debit cards, over 285 million of which are in circulation in the US, are popular at the point-of-sale, but may take a hit if more banks charge consumers fees of up to USD 1.50 for a PIN-based transaction. Although merchants

03 Aug 2004 02:54 AM

Corporations optimizing their use of the data accompanying payments benefit from the automation and streamlining of processes for cash management, receivables allocations and bank reconciliations, according to

02 Aug 2004 10:21 AM

According to Business Wire, by 2007, the US self-service transaction market could be worth almost USD 1.3 trillion, fueled by strong consumer demand for self-checkout systems. In 2003, US consumers initiated almost

30 Jul 2004 03:06 AM

By 2007, the US self-service transaction market could be worth almost USD 1.3 trillion, fueled by strong consumer demand for self-checkout systems, according to IHL Consulting. In 2003, US consumers initiated almost

29 Jul 2004 06:50 AM

Global mobile commerce revenues are tipped to grow from USD 6.86 billion in 2003, to USD 550 billion by 2008, according to research firm Telecom Trends, and US startups such as Massachusetts-based firm Mobile Lime

28 Jul 2004 04:53 AM

US enterprises seeking to cut costs are focusing on order-to-pay processes to reduce savings leakage and optimize their cash flow while avoiding penalties or overpayments. Corporations responding to a survey by Aberdeen

27 Jul 2004 05:05 AM

By end-2004, McDonalds’ will accept credit cards at up to 8,000 of its 13,500 stores, while Burger King aims to take credit cards at half of its restaurants and Wendy’s plans to accept credit cards at 95 per cent of its stores,

26 Jul 2004 05:53 AM

Online auction firm, eBay, has stated that it is looking to its e-payments unit, PayPal, for future growth as its merchandise sales trends start to reflect those of mainstream retailers, according to Silicon.com. To this end,

26 Jul 2004 04:03 AM

Enterprises using electronic invoices to optimize their order-to-pay processes stand to gain per-invoice cost savings of 50 to 60 per cent, to USD 12.50 per invoice, down from USD 34 for a paper invoice, according to Aberdeen Group. While corporate focus on invoice reconciliation and payment (IR&P) “is at an all-time high”, Aberdeen analyst Jeff Pikulik states, closing the procurement loop is frequently a hurdle to a successful IR&P program

24 Jul 2004 02:41 AM

Credit card skimming in 2003 comprised one-quarter of the UK’s card fraud total of Stg 402.4 million, according to card industry association, APACS. While the UK banking industry is currently spending Stg 300 million

23 Jul 2004 04:08 AM

Checking account fraud cost US banks USD 698 million in 2002, according to the American Bankers’ Association, while those perpetrating the fraud attempted to take USD 4.3 billion in total. Identity theft cost