FTC Calls for Reform The FTC has recently called for reforms to the Federal Telemarketing Sales Rule and as a result has issued a Notice of Proposed Rule Making. The proposed amendments would prohibit the use of certain novel payment methods by telemarketers and extend the ban on recovery services. If the amendments are approved […]
Introducing Mobile Contactless Payments in the United States Using your cell phone as a primary method to make mobile contactless payments may finally become a reality in the U.S. AT&T and Verizon are indeed encroaching into the electronic payment space, possibly creating a real threat to Visa and MasterCard. According to Bloomberg, the two wireless […]
Social sharing networks meet the credit card industry – in a new way this time. Although, I’m sure a recent new venture would have preferred a more favorable type of news release. Blippy, a new social sharing network site which allows users to share their credit card purchases, unintentionally exposed the financial information of some […]
If your merchant account is set up to accept only credit cards (i.e. you are on online merchant or you do not have the ability to accept PIN-based transactions), then the answer is simple – you can only accept credit card transactions at this time. If you accept POS (Point of Sale or in-person) transactions, […]
In Part I, I discussed the importance of PCI compliance, consequences of non-compliance and the effect of account termination on a merchant. Part II will discuss the basics of PCI compliance responsibility and how merchants can avoid fines and account termination. Who is Responsible for PCI Compliance? In order to be PCI compliant, all acquirers, […]
In January, MasterCard made an effort to enforce new regulations and best practice guidelines pertaining to online direct marketing – specifically “negative option” marketing, which they consider to be a “brand damaging” practice. The FTC Negative Option staff report, featuring five key marketing principles, triggered both Visa and MasterCard to make changes to their operating […]
Some recent news and government actions affecting online retailers enrolling consumers in membership clubs warrants a follow up to our blog a few months ago about post transaction marketing. In late January, NY Attorney General Cuomo made some strong moves in the battle against post-transaction marketing. His office reached an agreement with Fandango, in which the […]
Having a merchant account comes with responsibility. While a merchant may be concerned with revenue and how to grow its business, payment card industry (PCI) compliance should be at the top of the list as well. The main purpose of PCI compliance is data security, which applies to any party involved in processing credit card […]
Mobile Phones with Your Money Recent reports about the security of mobile phone payments has raised red flags on the next hot payment channel. Encryption on GSM calls has already been hacked and various researchers have released findings and tools that might encourage cybercrime. Well, maybe not exactly the motive, but a GSM encryption codebook […]
