Experian Traffic

Experian Consumer Direct reported this week that its family of Web sites, according to comScore Media Metrix, produced first quarter traffic of 26.1 million unique visitors compared to Equifax’s 4.0 million and TransUnion’s 1.6 million. Experian Consumer Direct’s family of sites produced a 22 percent increase in traffic from the previous quarter. Experian Consumer Direct offers consumers quick, easy and inexpensive access to their credit histories, to help them better manage their financial lives.

Details

Authorize.Net & Yaga

UT-based Authorize.Net and San Francisco-based Yaga have teamed to offer digital content commerce services, including micropayments, to merchants. Services offered will include content access control to secure content files behind a payment, flexible merchandizing and selling tools including multi-level subscriptions & pay-per-access. Authorize.Net, an InfoSpace service, provides secure, reliable, IP-based payment gateway solutions that enable merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, at brick-and-mortar stores, and on wireless devices.

Details

FDC & BANCO POPULAR

First Data has signed a five-year agreement with Banco Popular Dominicano for transaction processing software and support services. The bank will use First Data’s “VisionPLUS” software for accounts receivable and transaction processing for its credit and
private label card accounts on file. Under the new agreement, FDC also will provide software management support including maintenance, enhancement, conversion and consulting services. FDC has provided credit card processing services to Banco
Popular Dominicano since 1985 for its international credit card portfolio. Banco Popular Dominicano is the largest bank in the Dominican Republic.

Details

Credit Watch Silver/Gold

Equifax is now offering consumers “Credit Watch Gold” for $100 annually, and “Credit Watch Silver” for $50 annually. The newly released Equifax Credit Watch Gold and Equifax Credit Watch Silver were developed in response to consumer research that indicated the need for two distinct levels of identity theft protection. All Equifax consumer products are backed by Equifax’s patented authentication technology to protect its customers from privacy invasion and identity theft. Equifax Inc. is the leading provider of critical information to businesses, consumers and the public sector.

Details

SMART CARD REPORT

The slowdown in the growth of smart card shipments in 2001 and 2002 will likely continue for the next few years according to a new research report. The study also says that the wireless industry will remain the most lucrative industry for smart card vendors, yet its overall importance will drop. Datamonitor says it will account for 43% of smart card vendors’ total revenues by 2006, down from 49% in 2002, making vendors marginally less vulnerable to market fluctuations. Of all the vertical markets analyzed in the report, Datamonitor believes that security/access will experience the strongest growth in revenues, rising to $137 million in 2006.

Details

BIO-KEY BANKING

BIO-key International has signed agreements with two large Latin American banks. Under terms of the deals, BIO-key’s fingerprint identification capabilities will be tested with the banks’ fully integrated Internet banking applications. Additionally, the project will study, design and plan future integration of the technology with other current and planned banking processes. The vision is to provide a convenient, secured, fast, and reliable fingerprint authentication platform for the almost 16,000 on-line banking users to access their accounts via the Web. BIO-key’s systems integration partner, E|Corporation Global, a leading Latin American biometric consultant group, made the awards.

Details

Replace-to-EMV

Seoul-based CyberNet has launched a trade-in program, developed in cooperation with VISA, that enables VISA members worldwide, to migrate to EMV at a cost of about US$200. The “Replace-to-EMV” program applies to CyberNet’s “JADEBreakthrough” EMV terminal, that was announced In January, and which is powered by a 32 bit processor, the CyberSoft operating system, and supported by a JAVA development toolkit. VISA members who acquire “JADEBreakthrough units” will receive a credit for each non-EMV terminal that the member retrieves from its retailers and sends back to CyberNet. The acceptance device program is part of the “VISA Smart Breakthrough” global initiative designed to support EMV migration. According to this week’s The RAM Report, CyberNet began in 1998 in Korea as CyberNet Information System. Today, the company has regional offices in the USA, Australia, UK, Russia, Poland and Brazil.

Details

MC EUROPE 1Q/03

MasterCard’s gross dollar volume for Europe increased more than 10% during the first quarter to $66.0 billion, a pace significantly slower than 4Q’s 16% annual growth rate. For 1Q/03, MasterCard processed 793 million purchase transactions and 157 million cash advance transactions, up 15% and 2% over 1Q/02, respectively. At the end of the first quarter, MasterCard had 78.5 million accounts representing 88.2 million cardholders. Europe continues to be the largest cardholder base for “Maestro,” with 226.4 million “Maestro” cards, an almost 7% increase over the same period in 2002. There was also a 41.7% increase in the number of merchant terminals accepting “Maestro” in the first quarter of 2003.

Details

I-Gambling Ban

The House of Representatives this week passed the “Internet Gambling Funding Prohibition Act” which bans the use of credit cards and wire transfers for use on Web gaming sites. However, the bill exempts horse racing and other state-approved gambling activities. Most Internet gambling operations are offshore. The GAO estimates there are between 1,600 and 1,800 such sites producing about $4 billion in annual revenue. VISA and MasterCard have rules to enable member banks to prevent the use of their cards in connection with Internet gambling transactions. The rules require that, in order for a merchant to seek payment authorization in connection with an Internet gambling transaction, the merchant must code the authorization request to indicate that the transaction is an Internet gambling transaction. Merchants who will not abide by these rules are not permitted to accept cards. As a result, the GAO says some Internet casino operators now estimate that four out of every five requests for credit card payments are denied. Also, the New York Attorney General announced earlier this year agreements with several individual card issuers to block cardholders from using their credit cards for transactions identified as online gambling. (CF Library 2/13/03; 3/18/03)

Details