| Vouchers make it safer online
Online shopping holdouts can now buy virtual Visa vouchers to pay for internet purchases without the need for plastic cards or even a bank account. The move is expected to assuage fears of thousands of Australians who avoid shopping over the internet or telephone for fear of credit card fraud. Customers can buy "VCard" credit from retail stores in the same way they buy pre-paid mobile phone credit. The credit - up to $1000 per VCard - can then be used in place of a credit card anywhere in the world that accepts Visa. A once-off fee of $5.50 applies for each voucher and you can't spend more than the amount you put on. Market research firm Forrester, in a report released in April, found 7.2 million Australians were online shoppers. It forecast that figure would grow by an average of 22 per cent a year between now and 2010.
Napa supplier of bank investment software on a growth path
NAPA � An 18-year-old broker-dealer is reaping the benefits of growth in investment services offered by banks and credit unions.
Napa-based Essex National Securities Inc. supports the sale and management of stocks, bonds, annuities and other investments by more than 40 financial institutions around the country, focusing on those in the range of $250 million to $30 billion in assets.
Last year, it launched new software that allows institutions to integrate customers� investment portfolios into their online banking systems, creating a one-stop Web site for financial services.
�A lot of financial institutions that are in our target market don�t have that capability right now, and we�re just introducing it,� said Scott Davis, president and CEO for ENSI.
Vouchers to beat fraud on internet
PEOPLE who are nervous about online shopping can now buy virtual vouchers to pay for internet purchases without the need for plastic cards or even a bank account. The move should assuage the fears of thousands of Australians who avoid shopping over the internet or telephone for fear of credit card fraud. Customers can buy VCard credit from retailers in the same way they buy prepaid mobile phones. The credit - up to $1000 per VCard - can then be used in place of a credit card anywhere that accepts Visa. A one-off fee of $5.50 applies for each voucher and the customer cannot spend more than the amount on it. The market research firm Forrester, in a report released in April, found that 7.2 million Australians were online shoppers. It forecast that that figure would grow by an average of 22 per cent a year until 2010.
Wachovia is looking to add products as part of its overhaul of credit-card unit
Wachovia Corp. is looking for innovative thinkers and fresh ideas as it expands its card and payments business. And the bank also wants to introduce new products from that business soon. This week, the company began interviewing candidates to lead its emerging payment services group. It's one three segments of the new consumer and small-business payments unit headed by Steve Boehm, who previously ran Wachovia's relaunched credit-card business. The others are card services and payment services. In weighing new products, Boehm is particularly interested in areas such as mobile payments, in which consumers would use phones or handheld devices to process payments. Other possibilities include products in the health-care arena and online peer-to-peer payments such as PayPal.
|
