ACN Credit Union Blog

(www.allCUnews.com) - It's now estimated that somewhere in excess of 45 million cards have been stolen in the TJX breach and the total estimate cost is near $1.7 billion dollars. Here is a good break down of the estimated costs and impact....click here for breakdown on Wired News

Payment Processing solution provider, Aperta(www.aperta.com), has announced record growth for 2006.

"2006 was our strongest year in a number of areas since our inception in 1992,"said Tim Kickham, National Sales Director. In the US, 30 additional financial institutions, primarily credit unions and banks, implemented our check imaging branch capture solution. We also installed our VRPA+ remittance and lockbox processing solution in many small to large companies, many of whom installed Aperta's image cash letter software as well, allowing them to improve funds availability and to reduce costs. We now have approximately 400 users in total worldwide."

Chances are you are seeing more and more stories about phishing with a twist using the telephone to collect the victim’s personal data. You may even have personally experienced such activities yourself. We have been seeing this type of activity for some time and have personally experienced a similar scam but with a different spin.

PayPal mobile is currently open only as a pilot with their employees, but you can find out more about the PayPal mobile service now. Follow this link once you have logged into your PayPal account Mobile Overview

News from the Prepaid Card Expo in Orlando, FL

According to Stephen Diamond, Visa vice president of prepaid products there is an estimated opportunity worth nearly $1 trillion in prepaid cards through four applications.

I was able to listen to the Smart Card Alliance webinar today hosted by Stores, MasterCard, Visa and VivoTech. The session provided the basics to accepting contactless payments at the point of sale. It was interesting to see the latest updates on what’s happening in the market and get the perspective from a bank issuer, retailer and processor and how its being presented....