AmEx Increases Security for Online Purchases

Even though rumors have circulated for years that buying goods and services online isn't secure, most everyone who does shop with their credit cards over the Internet has not ever had a problem. Still, companies are searching for that next level of security that will ease the minds of wary consumers and businesses alike.

To come to the rescue, American Express has created its new Private Payments services. A free service, AmEx customers will be issued a number that can only be used one time for purchases versus using the regular credit card number. AmEx hopes that the single-use numbers will combat any fears of anyone stealing the credit card number and using it again.

In conjunction with Private Payments, AmEx has partnered with Privada to create a technology that enables users to release to Internet sites exactly the information they want rather than be subjected to a site-take-all mentality.

While services like Private Payments are beginning to spring up around Europe, AmEx is the first U.S. bank to begin such a service.

You may like these other stories...

Regulatory compliance, risk management and cost-cutting are the big heartburn issues for finance execs in the C-suite. Yet financial planning and analysis—a key antacid—is insufficient.That's just one of the...
Continuing its efforts to simplify accounting procedures, the FASB has issued a proposed Accounting Standards Update on customer fees paid in a cloud computing arrangement. The newly-proposed update (Intangibles—...
How are you planning? What tools do you use (or fail to use) for forecasting? PlanGuru is a business budgeting, forecasting, and performance review software company based in White Plains, N.Y. AccountingWEB recently spoke...

Already a member? log in here.

Upcoming CPE Webinars

Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.
Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.
Sep 26
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.