About   Advertise   Archives   Education   Glenbrook   Jobs   Store   Views   Subscribe:

« April 1, 2007 | Main | April 3, 2007 »

April 02, 2007

Metavante Spin Off Rumors

The winds of change are really blowing in the US payments business. Tonight, Dennis K. Berman reports for the Wall St. Journal on rumors of a plan to spin Metavante out of Marshall & Isley Corp. into a new public company. According to Berman, Warburg Pincus would take a minority position in the new company. Former Bank of America CEO David Coulter, also a member of the board of directors of First Data Corp, is reported to be helping Warburg Pincus with its financial technology investment efforts.

New Papers from the Payment Cards Center of the Philadelphia Federal Reserve Bank

The Payment Cards Center of the Federal Reserve Bank of Philadelphia has published two new papers. The first, titled "Bankruptcy: Is It Enough to Forgive or Must We Also Forget?", authors Ronel Elul and Peiro Gottardi develop a model in which entrepreneurs must repeatedly seek external funds to finance a sequence of risky projects under conditions of both adverse selection and moral hazard. The second, titled "Competitive Effects of Basel II on U.S. Bank Credit Card Lending", by William W. Lang, Loretta J. Mester, and Todd A. Vermilyea analyzes the potential competitive effects of the proposed Basel II capital regulations on U.S. bank credit card lending.

UK Tells Consumers To Report Financial Fraud to Their Banks

As of Sunday,April 1, 2007, new procedures went into effect in England, Wales and Northern Ireland requiring that "banks and financial institutions become the first point of contact for cheque, plastic card and online fraud offences. In most cases consumers will be required to report instances of this type of fraud straight to their bank or building society and not to the police. It will be up to the financial institution involved, and not the account holder, to pass details of the relevant crime on to the police."

READ MORE »

A Look at Citi Mobile

Anita Hamilton writes for Time.com about Citi's launch of its new Citi Mobile mobile banking service - noting that the new service is independent of any wireless carrier. There's an FAQ on Citi Mobile available from the bank's web site.

Contactless Vending Machines Now At Atlanta's Hartsfield-Jackson Airport

SkyeTek, in partnership with Isochron, has announced they have enabled cashless payment at vending machines located throughout the Hartsfield-Jackson Atlanta International Airport. Consumers equipped with RFID enabled credit cards can now make a purchase by just waving a card within a few feet of the new vending machines.

READ MORE »

New ‘MasterCard Nearby’ Mobile Services

MasterCard Worldwide has announced MasterCard Nearby - calling it "a trial of a new service that allows MasterCard cardholders to use their mobile phones to access a wealth of helpful information, including ATM and merchant locations, driving directions, rewards and special offers, and much more. All MasterCard cardholders in the United States are now eligible to sign up for MasterCard Nearby at www.mcnearby.com or by calling (877) 877-NEAR from any phone."

READ MORE »

First Data to Be Acquired by KKR

First Data Corp. has announced that it has entered into an agreement to be acquired by an affiliate of Kohlberg Kravis Roberts & Co. (KKR) in a transaction with a total value of approximately $29 billion. The agreement was unanimously approved by the First Data Board of Directors based upon the recommendation of the Strategic Review Committee comprised of three independent directors. Under the agreement, First Data shareholders will receive $34 in cash for each share of First Data common stock they hold, representing a premium of approximately 26% over First Data's closing share price of $26.90 on March 30, 2007 and a premium of approximately 34% over the average closing share price during the previous 30 trading days.

READ MORE »

ClairMail, TELUS Offer Mobile Banking to Canadian Banks

ClairMail has announced a strategic partnership with TELUS, a Canadian national telecommunications company, to enable retail banks, credit unions, brokerages, and credit card companies across Canada to offer mobile banking and payments services.

READ MORE »

Card Issuers, Retailers At Odds

Molly Hennessy-Fiske writes for the Los Angeles Times about payment card interchange fees - and the prospect that Congress may begin a close examination of them.

Sponsors

News View

Payments Consultants

Subscribe

Search

Languages



Glenbrook Partners

PAYMENTS NEWS IS PRODUCED BY AND IS A SERVICE MARK OF GLENBROOK PARTNERS, LLC
ISSN 1556-4487

Glenbrook's Consulting Services

  • Innovation and Strategy
  • Payments Product Development
  • Payments Market Assessments
  • Payments Vendor Selection
  • Merchant Payments Optimization
  • Payments Risk Management
  •  
  • To discuss how Glenbrook can
    help you
    , email us:

Glenbrook's Payments Education

  • Payments Boot Camp
  • Emerging Payments Roundtables
  • Special Focus Workshops
  • Private Payments Workshops
  •  
  •  
  •  
  • For more information on Glenbrook's payments education, email us:

Tools for Payments Professionals

  • Glenbrook Writings
  • Payments News
  • Payments Jobs
  • Payments Education
  • Payments Bookstore
  • Payments Glossary
  •  
  • To send us news that you'd like us to cover on Payments News, email us:

Contacts:                        
Compilation Copyright © 2002 - 2009 Glenbrook Partners LLC. All Rights Reserved.
Terms of Use        Privacy Policy        RSS Feed        Payments News RSS Feed

Subscribe to Payments News   

Follow Payments News on Twitter for Real-Time Updates