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Australian consumers may soon be able to shop online using their EFTPOS cards. Click on the title to read more $5million deal offers Australians shopping online with EFTPOS. Offshore sites are where Australians lost most of the total losses of $A88million to fraudulent card-not-present transactions last year. Soure: www.cartoonstock.com And with the losses some $15million higher than last year, the news isn’t good for Australian holders of Visa, Mastercard and American Express credit and charge cards. Click on the title to read more Australians lose $88million to virtual card fraud last year, up $15million on 2008 An international organised crime network is stealing PIN and account numbers in attacks on EFTPOS terminals at major Australian retailers. Michael Outram, CEO of the Australian Crime Commission, said this week that skimming devices installed in EFTPOS terminals are capturing customer card information and Personal Identification Numbers (PINs).Counterfeit cards are being created with the information and Click on the title to read more Australian EFTPOS terminals targeted in skimming attacks Proposed new Reserve Bank of Australia (RBA) rules could help Australia’s EFTPOS system regain lost ground from Visa and Mastercard. Click on the title to read more RBA proposes new deal for wholesale EFTPOS fees Giant US card companies, Visa and Mastercard, have been foiled in a bid to escape regulatory control of their Australian interchange fees. They had hoped to escape the irksome regulation, which caps the fees that their banking agents can charge each other for switching and processing card transactions. Instead, the fees will continue, and may even Click on the title to read more Visa , Mastercard foiled in bid to escape Reserve Bank regulation |
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