Visa, meet CyberSource. More than 40% of online payments are done through Visa, and e-commerce is getting old. Cell phone companies are pushing smart phones because they can increase their revenues as we become increasingly tethered not only to our cells phones, but to our computers.
CyberSource, Visa needs you. At $2 billion, this is the largest amount of money Visa ever paid for anything. But, hey, Visa needs to compete with PayPal. As much as people complain about the fees, they know they're stuck with it if they want to buy something on eBay. M-commerce is not going away and CyberSource may even be able to serve those who refuse to embrace BlackBerry devices and iPhones.
Now it comes down to data protection. There will be be a new level of penetration tests those of us in IT security need to learn. I hope Visa doesn't skimp on this. Otherwise, they will be in the same embarrassing -- and costlier -- position as other financial institutions that decided to gamble on security. They ended up paying for "free" credit monitoring. It wasn't free for them.
Read more at: http://www.nytimes.com/2010/04/22/business/22visa.html
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