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« June 15, 2003 - June 21, 2003 | Main | July 6, 2003 - July 12, 2003 »

July 05, 2003

Moneris readies for chip cards in Canada

Moneris Solutions, Canada's largest processor of credit and debit card payments, put out a press release yesterday on the migration to chip cards in Canada. Included is a strategic partnership with Ingenico for POS terminals.
"Moneris Solutions believes the move to chip technology will, over the long term, be highly beneficial to consumers and merchants alike," said Jim Baumgartner, President and CEO, Moneris Solutions. "Moneris is committed to investing the substantial resources required to make chip technology a reality in the Canadian marketplace. As the only remaining Canadian-based processor of scale, Moneris believes it is uniquely positioned to launch chip technology in a manner that makes sense for Canadian merchants."

July 02, 2003

Why old tech is beating new in B2B bill payment

The American Banker reports this morning on how traditional EDI continues to slow progress of Internet-based EIPP solutions.
The most basic reason for this is that EDI systems work. Companies typically work with a private networking partner, called a value-added network. Buyers send EDI-formatted purchase orders to their suppliers through the VAN and receive both shipping confirmation notices and invoices. Some can also transmit electronic payment instructions through the VAN to financial institutions, though the majority of payments are still made with paper checks. These systems have been in place for years, sometimes decades, and are commonly used by many of the nation's largest corporations. Velosant and other EIPP vendors may rue this situation, but EDI vendors are sitting pretty, largely because big companies have put so much money into their technology.

July 01, 2003

BitPass launches new online content and services payments solution

BitPass, a content and services payments company we've been helping, soft launched their new service last night. READ MORE »

EU may go digital with passports

Thomas Fuller reports in the International Herald Tribune on a European Union plan to use biometric technology in passports.
Under the U.S. Enhanced Border Security and Visa Entry Reform Act of 2002, countries whose citizens enjoy visa-free travel to the United States - as is the case with most if not all of Western Europe - must issue passports with biometric identifiers no later than Oct. 26, 2004.

June 30, 2003

Off eBay - PayPal volume growth

eBay held its annual meeting last week -- a copy of the presentation is available online (PDF format). Among other things, it highlights that PayPal's "off eBay" volume grew at 50% year over year in the first quarter of 2003.

MasterCard announces rewards program for small and medium-size financial institutions

MasterCard announced a new turn-key loyalty and rewards program intended for small to medium-sized financial institutions called Preferred Rewards.
The MasterCard Preferred Rewards package offers similar competitive advantages to current customized card-user loyalty and reward programs without the large financial investment associated with development and implementation, staffing, and data processing resources. Cardholders earn points for using their cards and have options for reward choices in the three most desirable award categories: travel and entertainment, merchandise, and gift certificates. The program represents an affordable alternative to the fully-customized MasterCard rewards solutions available since 1997. "Preferred Rewards provides a comprehensive yet flexible payment platform that takes the expense and guesswork out of launching and managing a world-class payment card rewards program," said Barbara Hvasta, vice president, Loyalty Consulting and Rewards Services, MasterCard Advisors. "Our wealth of hands-on expertise is critical to providing a financial institution with everything from set-up and roll-out, to marketing support, and professionally staffed customer service capabilities."

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