Visa Joins with CyberSource to Improve Internet Security

All of youse work for Visa now

As Visa Inc. gears up for mobile and online commerce, their planned purchase of Cyber Source Corp. proves that their also keen on sharpening their eye on security breaches. A $2 billion cash agreement was a portion of what will be an immensely orchestrated effort to tighten Visa‘s grip on security at retail locations, where anti-fraud campaigns have evolved and dramatically improved over the past few years.

Visa hired CyberSource as an internet bodyguard

Visa’s chairman and chief executive, Joseph W. Saunders said that a combination of Visa and CyberSource technologies and services will position the company on the crest of an immense mobile e-commerce wave. ¬†Cybersource sports over 295,000 merchant clients,and is notorious for its cutting-edge security technology. Visa’s head of global e-commerce and authentication, Gerry Sweeney, agreed that the acquisition will greatly improve upon Visa’s solitary anti-fraud effort, and equip them for online transactions.

Mobile banking is still a baby, and widespread attacks occur constantly as hackers repeatedly attempt to access valuable information that is stored on smart phones. VP of the Stamford, Connecticut, market research organization, Gartner, Avivah Litan said that a solution for mobile fraud has yet to come about, because it isn’t prevalent enough to pose a high-priority threat; however, she anticipates that it will change in the near future.

Glad to see visa has a handle on things – which makes me wonder: what’s in your wallet?!

Americans Crave Constant Connectability, but Banks Remain Closed on Sundays

Banking on your phone is smart

As the fortunes of the world rebound, today’s economy proves to be a wonderfuly exciting time to be in charge of a large financial institution. Bank executives should be ecstatic about the task at hand; currently speaking, industry wealth has saturated the financial institutions, and it just so happens that there’s a growing trend of techno-savvy consumers who are freakishly eager to embrace new gadgets and technologies, instead of getting motivated about learning how to incorporate new tools instead of their ever-evolving super-sophisticated smart phones/ mobile devices.

People want to make deposits from across the street

According to Red Gillen, a Celent analyst, every bank that he’d spoken with had reported that their adoption numbers exceeded expectations. A few notable statistics found in a recent research study by mobile tracking vendor Sybase 365 included: 67 percent of Americans who claim tat they prefer to be in constant contact; 69 percent report they use SMS; 39 percent expressed an interest in mobile banking, and another 32 percent would even change banks to take advantage of free mobile banking.

Despite the apparent American interest, the consumers of the US are lagging behind their European and Asian counterparts, who have adopted the widest range of mobile services that are theoretically available. ¬†This can be expected when considering how American banks weren’t very quick on the draw.

Perhaps the banks don’t want to progress the system? Weird.