A new whitepaper from J.P. Morgan entitled, Payments Fraud. How It Happens. And What You Can Do to Protect Your Organization is available for download. From JP Morgan: "Payments fraud protection has never been more important. Economic uncertainty coupled with the emergence of new payment types and technologies has brought out fraudsters of all stripes — from first-timers desperate for cash to the most sophisticated technological manipulators in the industry. In this white paper, we explore ... Read Full Story

Steve Case and Ted Leonsis throw in the towel on Revolution Money SummaryWow! It’s a great country. American Express is paying $300 million for alternative payments venture Revolution Money. For a venture with virtually no revenue, no material clients, and, a faulty – or to be charitable unproven, business model, that’s a nice exit. So, in a nutshell Amex is buying a pricey payments platform. To what end? Amex says it plans to use the technology so develop online, reloadable prepay, soc... Read Full Story

Massive Fraud Hits Canadian Debit Card Holders "Thousands of Cards...Millions of Dollars" My boyfriend was hit with this on Saturday evening… we had gone to my Grandfather’s 80th birthday party at the Meadows Garden Golf Club, and he took money out of the ATM for the cash bar. We stopped at 7-11 on our way home to pick up money for his sister, who was babysitting for us; I am guessing this is where his card was picked up. He used the ATM and the PIN machine at the till that night. The ne... Read Full Story

Ruling: Visa within its rights to pull back payment Court sounds an alert to merchants to be clear on e-fraud protections By Howard Fischer Tucson, Arizona | Published: 11.23.2009 A new court ruling holds that merchants who accept credit card payments for orders they get online need to know exactly what the card company is promising or risk having the money taken back.  In a unanimous decision, the state Court of Appeals turned aside arguments by a Tucson firm that Visa acted ... Read Full Story

New Worm Attacks iPhones, Targets Mobile Banking A second iPhone worm is in the wild, and unlike the jokey Australian worm authored by hacker prankster Ikee two weeks ago, this one is dangerous. Unlike Ikee’s hack, which merely rick-rolled owners of infected iPhones, the new Dutch variant targets customers of the bank ING. When triggered, the worm redirects users visiting the banking site to an address in Lithuania which shows a fake login screen for ING online banking. It is essentially... Read Full Story

CPNI’s Payments Software Integrated Into MMV’s Mobile Financial Services Platform TORONTO and SAN FRANCISCO, November 23, 2009 –PIN Payments News Blog-  Mobile Money Ventures (MMV) and CPNI Inc. (CPNI) today announced they will be working together to offer financial institutions a comprehensive solution that integrates CPNI’s mobile commerce solutions into MMV’s mobile financial services platform. The multifaceted relationship will combine CPNI’s PATsend™ remote mobile payment techno... Read Full Story

Global Commercial Payments Summit February 26-27, 2009 Early Bird Rates Expire November 30, 2009 The Global Commercial Cards and Payments Summit 2010 Growth through Customer-Centric Innovation Register by November 30th to Take Advantage of Early Bird Rates for CPI's Global Commercial Cards and Payments Summit 2010 March 23 - 24, 2010, Hilton Hotel, New York City Early bird rate valid through November 30, 2009 - $1595 Regular rate beginning Decembe... Read Full Story

UK BANKS SET TO VOTE ON ABOLITION OF CHECKS The UK's major banks are set to vote next month on whether to stop clearing checks as consumers increasingly turn to cards and electronic transfers. More on this story: http://www.finextra.com/news/fullstory.aspx?newsitemid=20780 Read Full Story

BOSTON--(BUSINESS WIRE)--IT security and data protection firm Sophos today announced its collaboration with Juniper Networks® to integrate its anti-spam technology into Juniper Networks SRX Series Services Gateways, SSG Series Secure Services Gateways and J Series Services Routers for the branch. Juniper’s high-performance security platforms, designed for branch offices in small to large global deployments, provide protection from internal and external attacks, prevent unauthorized access, a... Read Full Story

New site helps cardmembers make their money worth more RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover® card today announced the launch of ItPaystoDiscover.com, a new Web site that brings together all the ways cardmembers can get the maximum value from their Cashback Bonus® rewards. All across America Discover Cardmembers are earning Cashback Bonus on every purchase. This interactive Web site shows how it all adds up, features exclusive limited-time deals and offers a peek at how cardmembe... Read Full Story