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July 12, 2007

BarCampBankSeattle - A Banking Camp in Seattle

Jim Bruene posts on NetBanker about the Banking Camp that's getting organized for next weekend (July 21/22) - called BarCampBankSeattle.

Wesabe Introduces API

Marc Hedlund, co-founder and chief product officer of personal financial information provider Wesabe, blogs about the new API they're introducing. He writes "We want to take the idea of a credit bureau (where businesses report their experiences with consumers so that other businesses can benefit) and turn it on its head — building instead a value bureau, where consumers can share their experiences with businesses, so all consumers can benefit." Documentation on the new Wesabe API is available online.

Verizon, Chase Paymentech Partner for Broadband Merchant Services

Verizon has announced Verizon Merchant Services, Payments Powered by Chase Paymentech - a new offering for small and medium-sized businesses with a broadband connection from Verizon Online.

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Obopay Closes $29 Million Third Round Venture Funding

Obopay has announced the closing of its third round of venture funding, raising $29 million. The round was led by Richmond Global Cellular, an affiliate fund of Richmond Management LLC. Other new investors included AllianceBernstein L.P., Citi, Societe Generale.

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2010 Market Size Projections for POS Terminals

Global Industry Analysts, Inc. has published a new report that projects that the world EFTPOS terminal market will grow to 10,769,000 units by 2010.

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Debit Cards’ Hidden Fees

The press is picking up on the Center for Responsible Lending's report on bank overdraft fees and overdraft loans. The CBS Evening News covered the story In an article titled 'Debit Cards' Hidden Fees" citing the study's conclusion that "the single largest use of overdrafts was using your debit card. And those debit card purchases are very small. If you were to calculate an annual percentage rate interest for that loan, it would usually be well into the five digits."

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Delivering Targeted Messages and Promotions on POS Receipts

Welcome Real-Time's Aneace Haddad blogs about some new study results that show the benefits to merchants from having the technology to deliver targeted messages and promotions to their customers on POS receipts.

Headline News - July 12, 2007

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers looking to hire payments professionals can post their job openings there as well.

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