According to consulting firm Treasury Strategies losses caused by fraud could result in the closing of as many as 10 financial institutions within the next three years. According the Barry Barretta, a principal at Treasury Strategies, “Fraud risk in the industry is at an unprecedented..

Three-quarters of online economic users - those Americans who use the internet to keep up with news about the economic recession or their own personal finances - go online to relax and take their minds off of the recession, according to a 2009 survey by the Pew Research Center's Internet &..

Paper checks for ongoing consumer expenses such as rent, mortgage, utilities, and taxes are rapidly being replaced by electronic payment processing. Consumers expect to be able to pay bills online. Companies that to offer electronic payment options to their customers satisfy customer demand while..

Carla Balakgie, CEO of the Electronic Transactions Association says that the current economic condition and malicious fraudsters with criminal intent are among the biggest problems facing the payment processing industry.According to Balakgie, the downturn in the economy is the biggest problem..

According to researcher Mercator Advisory Group, the load volume on open-loop, also called general-purpose or network branded, prepaid cards will surpass load volume on closed-loop cards by 2012.In its sixth annual prepaid card Mercator said users loaded $187.2 billion onto closed-loop cards last..

The largest debit card issues in the US, Bank of America and JPMorgan Chase announced major changes to their overdraft-fee policies. The changes came in response the government pressure due to the rising number of consumer complaints about excessive fees.Senator Christopher J. Dodd, who is chairman..