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The Consumer Payments Research Center of the Federal Reserve Bank of Boston has published a new working paper titled "Why Are (Some) Consumers (Finally) Writing Fewer Checks? The Role of Payment Characteristics" 
by Scott Schuh and Joanna Stavins.
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TwitPay, the Twitter-based person-to-person payments service, has announced that it's exiting its beta phase and will be moving "real money" starting today using Amazon Payments.
Working with Amazon Payments, we’ve built a new version of Twitpay that means we don’t have to be the middle-man for your cash. That’s good for you as a user because you don’t have to trust us with your money, you just have to trust Amazon. It’s good for us as a service because it allows us to focus on adding new features and focus on the core of our business."
First Data and Urban Trust Bank have announced that Urban Trust Bank will offer the Money Network payroll card and related prepaid products to businesses and consumers. READ MORE »
Verifi, a provider of transaction risk management services for card-not-present merchants, has announced that the company has signed a preferred partner agreement with Chase Paymentech. "Verifi will recommend Chase Paymentech as a preferred merchant account provider to its merchant customers, and will provide its transaction risk management services, including chargeback prevention and management, to Chase Paymentech’s card-not-present merchants." READ MORE »
In a press release this morning, the Department of the Treasury and the Federal Reserve Board have announced the launch of the Term Asset-Backed Securities Loan Facility (TALF). They say that "the TALF has the potential to generate up to $1 trillion of lending for businesses and households. Under the TALF, the Federal Reserve Bank of New York will lend up to $200 billion to eligible owners of certain AAA-rated ABS backed by newly and recently originated auto loans, credit card loans, student loans, and SBA-guaranteed small business loans.
Elavon, the merchant acquiring subsidiary of U.S. Bancorp, has announced that it is the "first acquirer to commercially market the American Express OnePoint program to its third party sales channels, including Merchant Service Providers (MSP's) and Agent Banks." Under this program, Elavon says it performs all set up, processing, settlement, funding, customer support and reporting for eligible American Express acceptance, thereby providing merchants with one processing relationship for all major card brands. Elavon also offers OnePoint to merchants in its direct sales and alliance bank referral channels. READ MORE »
The Boston Consulting Group has announced its ninth major study of the payments industry titled "Weathering the Storm: Global Payments 2009" find that "banks must take forceful steps to overcome major challenges to their payments businesses if they are to bolster their overall profitability amid the ongoing financial crisis." READ MORE »
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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