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...

K2 Enterprises has announced its 2014 technology awards in 27 categories. The only clear message may have been that there was no clear message in a field marked by many good ideas, but no unanimous winners.The company, which...
We're all about QuickBooks this morning. First, read this late-breaking news from John Stokdyk, editor of AccountingWEB (U.K.), who is attending the QuickBooks Connect conference in San Jose, California. Then, for more...
Technology—specifically internet technology—has a record of disrupting tried-and-true methods of operation in ways that we often don't foresee. Look no further than the recent HBO announcement that they *gasp...

Already a member? log in here.

Upcoming CPE Webinars

Oct 30Many Excel users have a love-hate relationship with workbook links.
Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.
Nov 12This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.
Nov 18In this session Excel expert David Ringstrom, CPA tackles what to do when bad things happen to good spreadsheets.