The Indian Payment Card Market Forecast to 2012



Image representing Business Wire as depicted i...Research and Markets: An Extensive Research and Conceptual Analysis of The Indian Payment Card Market Forecast to 2012



DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/52a195/indian_payment_car) has announced the addition of the "Indian Payment Card Market Forecast to 2012" report to their offering.
“Indian Payment Card Market Forecast to 2012.”
With the continuous rise in middle class households and the shift in consumer spending pattern, the Indian payment card market, which includes both credit cards and debit cards, has been growing rapidly in the recent years. This huge demand for payment cards is providing tremendous growth opportunities for card issuers, suppliers and manufacturers, according to this new research report "Indian Payment Card Market Forecast to 2012."
The publisher has found that the number of debit cards issued by banks grew at a CAGR of around 40% between FY 2006 and FY 2009, and anticipate that the future prospects of the industry will remain buoyant, owing to low payment card penetration coupled with surge in card spending due to rising income levels of the Indian population. Moreover, consumers preference to the use of cards over cash will boost due to its safety and easy access. Besides, there are many other benefits, like reward points and discounts, offered by merchants as well as bankers, which will lure customers to shop by their payment cards. Moreover, the increasing trend of online shopping has also provided the impetus for the growth of the industry. The publisher has also studied the Indian payment card industry in terms of technology adoption and scope of different technologies in future.
The research also indicates that the future growth trend, to some extent, will be impacted by the financial turmoil and credit squeeze. Nevertheless, the overall trend will remain positive over the forecast period. The baseline for the optimistic future outlook of the report is that the government has been actively supporting card usage in current years to cut the operating cost and to avoid tax delinquencies. In fact, RBI has proposed to launch a domestic payment card (India Card) and a POS switch network for issuance and acceptance of payment cards.
Indian Payment Card Market Forecast to 2012 provides an extensive research and rational analysis along with reliable statistics of the payment card market in India. The report has thoroughly examined the current market trends, industrial developments and competitive landscape to enable clients understand the market structure and its progress in coming years. Besides this, the report also provides brief overview of the key market players including ICICI Bank Ltd, HDFC Bank Ltd, Citibank NA, State Bank of India and Punjab National Bank.
Forecast presented in the report has been done considering the possible post-recession impact on the industry. It will help clients to have proper insight into the current and future outlook of credit card market in developing economies.
Key Topics Covered:
1. Analyst View

2. Economic Overview

3. Market Attractions

4. Indian Financial Card Market: Current and Future Outlook

5. Future Growth Avenues

6. Industry Restraints

7. Competitive Landscape
Companies Mentioned:
  • ICICI Bank Ltd

  • HDFC Bank Ltd

  • Citibank NA

  • State Bank of India

  • Punjab National Bank

Contacts

Research and Markets

Laura Wood, Senior Manager,

press@researchandmarkets.com

U.S. Fax: 646-607-1907

Fax (outside U.S.): +353-1-481-1716
Permalink: http://www.businesswire.com/news/home/20100331005990/en/Research-Markets-Extensive-Research-Conceptual-Analysis-Indian


Reblog this post [with Zemanta]

Full Story
Posted by John B. Frank Wednesday, March 31, 2010 0 comments

The Indian Payment Card Market Forecast to 2012



Image representing Business Wire as depicted i...Research and Markets: An Extensive Research and Conceptual Analysis of The Indian Payment Card Market Forecast to 2012



DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/52a195/indian_payment_car) has announced the addition of the "Indian Payment Card Market Forecast to 2012" report to their offering.
“Indian Payment Card Market Forecast to 2012.”
With the continuous rise in middle class households and the shift in consumer spending pattern, the Indian payment card market, which includes both credit cards and debit cards, has been growing rapidly in the recent years. This huge demand for payment cards is providing tremendous growth opportunities for card issuers, suppliers and manufacturers, according to this new research report "Indian Payment Card Market Forecast to 2012."
The publisher has found that the number of debit cards issued by banks grew at a CAGR of around 40% between FY 2006 and FY 2009, and anticipate that the future prospects of the industry will remain buoyant, owing to low payment card penetration coupled with surge in card spending due to rising income levels of the Indian population. Moreover, consumers preference to the use of cards over cash will boost due to its safety and easy access. Besides, there are many other benefits, like reward points and discounts, offered by merchants as well as bankers, which will lure customers to shop by their payment cards. Moreover, the increasing trend of online shopping has also provided the impetus for the growth of the industry. The publisher has also studied the Indian payment card industry in terms of technology adoption and scope of different technologies in future.
The research also indicates that the future growth trend, to some extent, will be impacted by the financial turmoil and credit squeeze. Nevertheless, the overall trend will remain positive over the forecast period. The baseline for the optimistic future outlook of the report is that the government has been actively supporting card usage in current years to cut the operating cost and to avoid tax delinquencies. In fact, RBI has proposed to launch a domestic payment card (India Card) and a POS switch network for issuance and acceptance of payment cards.
Indian Payment Card Market Forecast to 2012 provides an extensive research and rational analysis along with reliable statistics of the payment card market in India. The report has thoroughly examined the current market trends, industrial developments and competitive landscape to enable clients understand the market structure and its progress in coming years. Besides this, the report also provides brief overview of the key market players including ICICI Bank Ltd, HDFC Bank Ltd, Citibank NA, State Bank of India and Punjab National Bank.
Forecast presented in the report has been done considering the possible post-recession impact on the industry. It will help clients to have proper insight into the current and future outlook of credit card market in developing economies.
Key Topics Covered:
1. Analyst View

2. Economic Overview

3. Market Attractions

4. Indian Financial Card Market: Current and Future Outlook

5. Future Growth Avenues

6. Industry Restraints

7. Competitive Landscape
Companies Mentioned:
  • ICICI Bank Ltd

  • HDFC Bank Ltd

  • Citibank NA

  • State Bank of India

  • Punjab National Bank

Contacts

Research and Markets

Laura Wood, Senior Manager,

press@researchandmarkets.com

U.S. Fax: 646-607-1907

Fax (outside U.S.): +353-1-481-1716
Permalink: http://www.businesswire.com/news/home/20100331005990/en/Research-Markets-Extensive-Research-Conceptual-Analysis-Indian


Reblog this post [with Zemanta]

Full Story
Posted by John B. Frank 0 comments

X9 Calls for Authentication Standard for Debit Transactions

Annapolis, Md., March 31, 2010 -- The Accredited Standards Committee X9 (X9) announced today plans to launch a new effort to develop an American National Standard that will provide secure authentication for debit transactions.



"Consumer demand and industry trends are moving towards more security for card transactions over the Internet", said Lilik Kazaryan of the STAR Network. Kazaryan is a member of X9 and proposed the new work item. "Currently there are no industry-wide standards for secure consumer authentication of debit transactions over an on-line environment, yet security issues are paramount with card users".





Editor's Note:  Although it may be true that there are no industry wide standards, HomeATM secures consumer authentication of debit (and credit) transactions by capturing and encrypting the Track 2 data at the magnetic head of our device.  In addition, we end-to-end DUKPT (Derived Unique Key Per Transaction) encrypt the PIN.  In fact, HomeATM is currently the only PCI Certified online payment platform based on the fact that transactions are conducted with our PCI 2.0 Certified PIN Entry Device.



 The new project was approved by X9's board of directors as a standard development work initiative and will be managed under its X9F6-2 working group. When completed, the industry will have a consensus-based standard for increasing the integrity of card use among customers. "The approval of our board for this new work item should mobilize the financial services community to put effort behind formulating a new security standard", said Cindy Fuller, X9 Executive Director. "X9 standards and technical reports are widely adopted by the financial services industry. To date X9 has developed more than 90 national standards and technical reports."



The target audience for the standard is expected to be financial institutions, merchants/acquires, and EFT networks. "Membership in X9 is open to all interested parties, said Cindy Fuller, "interested persons can contact X9 about how to join and begin to participate in the standards development work".


With the launch of the project, experts who should be interested in joining and participating include vendors who offer consumer authentication solutions for debit transactions on the internet, financial institutions, and EFT networks and internet merchants. In the call for experts, X9 is looking to include persons skilled with Dynamic Floating PIN, One-Time Passwords, Cardholder Authentication, and On-line Banking. "We are not limiting the expertise and would like to include any firm or individual with a security background within the financial services industry," said STAR's Kazaryan.



First Data's STAR NetworNetwork is one of the nation's leading electronic funds transfer (EFT) networks with more than two million retail and ATM locations. The network has processed an annual average of more than 3.6 billion debit transactions in the U.S. over each of the past three years.





Source: Company press release.



Reblog this post [with Zemanta]

Full Story
Posted by John B. Frank 0 comments

X9 Calls for Authentication Standard for Debit Transactions

Annapolis, Md., March 31, 2010 -- The Accredited Standards Committee X9 (X9) announced today plans to launch a new effort to develop an American National Standard that will provide secure authentication for debit transactions.



"Consumer demand and industry trends are moving towards more security for card transactions over the Internet", said Lilik Kazaryan of the STAR Network. Kazaryan is a member of X9 and proposed the new work item. "Currently there are no industry-wide standards for secure consumer authentication of debit transactions over an on-line environment, yet security issues are paramount with card users".





Editor's Note:  Although it may be true that there are no industry wide standards, HomeATM secures consumer authentication of debit (and credit) transactions by capturing and encrypting the Track 2 data at the magnetic head of our device.  In addition, we end-to-end DUKPT (Derived Unique Key Per Transaction) encrypt the PIN.  In fact, HomeATM is currently the only PCI Certified online payment platform based on the fact that transactions are conducted with our PCI 2.0 Certified PIN Entry Device.



 The new project was approved by X9's board of directors as a standard development work initiative and will be managed under its X9F6-2 working group. When completed, the industry will have a consensus-based standard for increasing the integrity of card use among customers. "The approval of our board for this new work item should mobilize the financial services community to put effort behind formulating a new security standard", said Cindy Fuller, X9 Executive Director. "X9 standards and technical reports are widely adopted by the financial services industry. To date X9 has developed more than 90 national standards and technical reports."



The target audience for the standard is expected to be financial institutions, merchants/acquires, and EFT networks. "Membership in X9 is open to all interested parties, said Cindy Fuller, "interested persons can contact X9 about how to join and begin to participate in the standards development work".


With the launch of the project, experts who should be interested in joining and participating include vendors who offer consumer authentication solutions for debit transactions on the internet, financial institutions, and EFT networks and internet merchants. In the call for experts, X9 is looking to include persons skilled with Dynamic Floating PIN, One-Time Passwords, Cardholder Authentication, and On-line Banking. "We are not limiting the expertise and would like to include any firm or individual with a security background within the financial services industry," said STAR's Kazaryan.



First Data's STAR NetworNetwork is one of the nation's leading electronic funds transfer (EFT) networks with more than two million retail and ATM locations. The network has processed an annual average of more than 3.6 billion debit transactions in the U.S. over each of the past three years.





Source: Company press release.



Reblog this post [with Zemanta]

Full Story
Posted by John B. Frank 0 comments

WePay Goes Live with Max Levchin as Backer

 From Read Write Web:



If you've ever lived in a house with multiple roommates, then you know the pain of collecting for the various bills each month and keeping track of who paid what and when.  Add to that the frustration of one person paying cash while another only has checks on hand, and you'll be ready to call it quits.  That is, unless you've found WePay, the online payment service launching tomorrow custom made to handle situations like roommates, teams, organizations or any group where everyone pitches in.


The company has been in private beta for the past six months and says that its testers have been giving it rave reviews. If it does what it says it does, we wouldn't see why not.  


So far, it has received funding from August Capital, Max Levchin (the founder of PayPal), Ron Conway (early investor in Google, Facebook and Twitter), Eric Dunn (former CTO and CFO of Intuit), and others...









Related articles by Zemanta

Related articles by Zemanta
Reblog this post [with Zemanta]

Full Story
Posted by John B. Frank 0 comments

WePay Goes Live with Max Levchin as Backer

 From Read Write Web:



If you've ever lived in a house with multiple roommates, then you know the pain of collecting for the various bills each month and keeping track of who paid what and when.  Add to that the frustration of one person paying cash while another only has checks on hand, and you'll be ready to call it quits.  That is, unless you've found WePay, the online payment service launching tomorrow custom made to handle situations like roommates, teams, organizations or any group where everyone pitches in.


The company has been in private beta for the past six months and says that its testers have been giving it rave reviews. If it does what it says it does, we wouldn't see why not.  


So far, it has received funding from August Capital, Max Levchin (the founder of PayPal), Ron Conway (early investor in Google, Facebook and Twitter), Eric Dunn (former CTO and CFO of Intuit), and others...









Related articles by Zemanta

Related articles by Zemanta
Reblog this post [with Zemanta]

Full Story
Posted by John B. Frank 0 comments

ACI Worldwide on the "Threat to Online Banking Security"



Wednesday, 31 March 2010





Threat to online banking security

According to this month’s figures released by the UK Cards Association, the number of "phishing" attacks on consumers rose by 16% in 2009 and the total amount of online banking losses saw a 14% rise on the previous year. These stats are worrying for consumers and banks alike – increasingly fraudsters are using Trojans that can infect a user’s PC, and then launch man-in-the-browser attacks that can get around the strongest user authentication measures. The consumer may not even be aware that the funds have been moved from their account as the Trojan can alter the page being displayed.



To tackle this problem, banks need to get a better understanding of their customers’ online banking activity so that they can check to see if it fits the established profile of the genuine customer. Alongside other fraud prevention methods such as authentication, a layered approach to online banking fraud monitoring – one that analyses the login, the transactions, and risky sequences of events – gives banks the best chance to minimise online banking fraud. In addition, consumers need to be educated around the dangers of clicking links in unsolicited emails and on social networks. Fraudsters will always look for weaknesses in the system, in this case the user’s PC, and banks must work with their customers to plug the security gaps.



For more information on fraud mitigation strategies to protect customers from man-in-the-browser attacks, please take a look at ACI's recent white paper Securing Online Banking





About ACI

Software from ACI Worldwide helps ensure electronic payments transactions are processed reliably and safely, 24 hours a day. ACI also provides some of the world’s largest financial institutions with international and domestic wholesale payments and financial message processing solutions.

Find out more at:www.aciworldwide.com
Reblog this post [with Zemanta]

Full Story
Posted by John B. Frank 0 comments

Payments Industry News Blog

Search the PIN Debit Blog by Subject

Kapersky Calls for Mass Adoption of Card Readers

Kapersky Calls for Mass Adoption of Card Readers