Payment Systems News
Payment Systems: US company claims patent on SMS authorisation system - sues VISA
A lawsuit filed by a small Miami company demonstrates ridiculous nature of US Patent law - and handicaps anti-fraud measures by Card companies, potentially worldwide.
Payment Systems - UN's INCB fingers PayPal as medium for drugs payments
Melvyn Levitsky, a member of the International Narcotics Control Board says that anyone with a PayPal account could buy drugs through a “phoney consultation with a so-called doctor by e-mail.”
Payment systems: Credit cards used in large international counterfeit software scheme
A supplier of illegal copies of software used more than 60 credit card merchant accounts in an international scheme grossing about USD800 thousand.
Payment Systems: MasterCard increases stake in Strategic Payments Services
MasterCard - which recently bought OrbisCom and has owned Mondex for several years, is to increase its stake in Australian payment services provider Strategic Payments Services Pty Limited.
Payment Systems: MasterCard buys Orbiscom
MasterCard has agreed to pay approximately USD100 million for Irish software house Orbiscom which has worked with MasterCard to develop a new payment system inControl.
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