Electronic commerce provider Concord EFS Inc. was chosen as the online debit POS processor for Wal-Mart Stores Inc. and Sam's West Inc. (Sam's Club) locations nationwide. Concord was already a processor for electronic benefit transfer card payments at Wal-Mart stores.
At the Electronic Commerce 2001 conference in San Francisco, NACHA - The Electronic Payments Association said that financial electronic data interchange (EDI) over the automated clearing house (ACH) network had grown by 21.5 percent during 2000. More than 96 million financial EDI transactions crossed the ACH during that year. Fraud prevention website launched
Fraud Prevention Network unveiled its fraud prevention website: www.merchantfraudsquad.com. The site, which still exists, provides advice about how merchants can combat online fraud and information on how to report cyber crime and prevent the use of stolen credit cards.
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