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Posted by admin on Feb 02, 2010

 

According to consulting firm, the TowerGroup, nearly $5 billion of money on gift cards will go unspent.  This is known as breakage.An example of breakage is the $10 left unspent on a card if you spend $40 out of the $50 on on the card.  Breakage also occurs if a card is lost or misplaced,..

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Posted by admin on Jan 27, 2010

 

Electronic payment processing card fraud cost $8.6 billion in 2008. The fraud rate, was 0.4% of $2.1 trillion in total charge volume in 2008.A new report about fraud management from Aite Group says that end-to-end encryption of cardholder data during an electronic payment processing transaction is..

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Posted by admin on Jan 22, 2010

 

EFT network NYCE raised interchange for issuers by 1.1 cents in October of 2009.  Competitor Star EFT is also changing interchange rates and eliminating fee maximums.  Both networks are doing so as an incentive to banks to use their networks.Merchants are the ones who will be absorbing the new..

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Posted by admin on Jan 18, 2010

 

Smart phones are taking over and payments on mobile phones are becoming accepted ways of sending and receiving money for millions of people. According to research company Javelin Strategy and Research, mobile phone companies will be controlling the customers and be the channel of payment flow, not..

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