Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Revolution Money inks card processing deal with Fifth Third

Revolution Money, a Web 2.0 interchange-free payment platform launched in the US last year, has recruited Fifth Third to provide processing services for its "anonymous" PIN-based credit card.

05 February 2008

News/Card fraud

Hbos signs for SAS card fraud detection technology

UK banking group Hbos is implementing card fraud detection technology supplied by business intelligence software vendor SAS which it will use to monitor debit card transactions.

31 January 2008

News/Card fraud

Jump in adoption of alternative payment methods

Around 30% of US online retailers now offer customers the option to use alternative payment methods (APM) - such as Google Checkout, PayPal and Bill me Later - which is a 25% increase since February 2007, according to a poll conducted by interactive marketing firm Brulant.

16 January 2008

News/Card fraud

Barclays chairman loses £10,000 in ID fraud scam

A fraudster managed to con high street bank Barclays out of £10,000 in a credit card scam by posing as its high-profile chairman Marcus Agius.

10 January 2008

News/Card fraud

Halifax facing chip and PIN fraud lawsuit

UK high street bank Halifax is facing a lawsuit brought by a customer who claims that fraudsters cloned his chip-based card and withdrew £2100 from his account at ATMs.

07 January 2008

News/Card fraud

FTC prosecutes payment processor

The US Federal Trade Commission (FTC) has filed charges against payment processing company Your Money Access (YMA) which has been accused of attempting to debit customers' bank accounts on behalf of fraudulent telemarketers and online merchants.

12 December 2007

News/Card fraud

MobiClear signs TheCard to mobile phone verification system

Card security outfit MobiClear has signed business travel account firm TheCard Scandinavia to technology that enables customers to use mobile handsets to authorise transactions and "switch off" credit and debit cards.

04 December 2007

News/Card fraud

UK Christmas shoppers to spend over £5bn online - Apacs

Christmas shoppers are expected to spend a record £5.6 billion online during December, a 55.6% rise on the same month last year, says UK payments association Apacs.

30 November 2007

News/Card fraud

Over eight million Americans hit by ID theft in 2005 - FTC

A new report released by The Federal Trade Commission (FTC) estimates that 8.3 million Americans - around four per cent of the US population - fell victim to identity theft in 2005.

29 November 2007

News/Card fraud

PayPal set to roll out virtual card payments system

Ebay subsidiary PayPal is gearing up to launch a 'virtual card payment system' which allows surfers to pay for purchases on Web sites that don't accept Paypal services directly.

19 November 2007

News/Card fraud

Hi-tech gang indicted on card fraud and laundering charges

The Manhattan District Attorney has indicted 17 individuals and one corporation on multi-million dollar fraud charges related to global trafficking in stolen credit card numbers, cybercrime and identity theft.

09 November 2007

News/Card fraud

Apacs and petroleum industry in card fraud prevention initiative

Payments association Apacs is teaming with the UK Petroleum Industry Association to launch a national card fraud prevention campaign. The move follows a spate of card cloning cases involving petrol stations across the country.

01 November 2007

News/Card fraud

London police hunting online account hackers

Police in London are hunting a gang of online thieves that hacked into bank accounts and stole hundreds of thousands of pounds.

29 October 2007

News/Card fraud

Visa talks up merchant PCI compliance

Card association Visa says 65% of the largest US merchants are now compliant with the Payment Card Industry Data Security Standard (PCI DSS), up from 36% in December 2006.

26 October 2007

News/Card fraud

Chip and PIN trial kicks off in Canada

Canada's national payments association Interac is to kick off full-scale trials of chip and PIN technology for debit payments in Ontario later this month.

17 October 2007

News/Card fraud

Card fraud patent to go under the hammer

A patent for software that tackles card not present (CNP) fraud, as well as cross border card fraud, is expected to fetch at least $500,000 when it goes up for auction in Chicago later this month.

16 October 2007

News/Card fraud

Nigerian banks begin migration to chip and PIN technology

Nigerian financial institutions Access Bank and United Bank of Africa (UBA) have chosen technology from IT security vendor Thales to secure migration to chip and PIN.

15 October 2007

News/Card fraud

Jump in card fraud abroad drives up UK losses - Apacs

A massive rise in fraud committed on UK cards abroad pushed up industry losses in the first half of the year, even though domestic card fraud levels fell during the period, according to industry figures released by payment association Apacs.

03 October 2007

News/Card fraud

Eiger targets direct debit fraud

Experian subsidiary Eiger Systems is launching a new customer verification service designed to help UK firms detect direct debit fraud.

02 October 2007

News/Card fraud

TJX card fraud gang leader jailed

The 19 year old ringleader of a gang that used financial information stolen during the computer hacking at US retailer TJX has been sentenced to five years in prison and ordered to pay nearly $600,000 in restitution.

18 September 2007