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« July 4, 2004 - July 10, 2004 | Main | July 18, 2004 - July 24, 2004 »

July 16, 2004

Gift Cards Bought with Stolen Credit Cards

Emily Achenbaum reports in the Charlotte Observer on how stolen credit cards are being used to buy gift cards -- before the credit cards themselves are reported missing.

Data Card Replaces Wallet

Jenifer Nii reports in the Deseret News on 1st eTech's biometric secured data card. More information about 1st eTech is available on their web site.

Glenbrook Research Note: Peppercoin V2.0

Glenbrook's Russ Jones has posted a new Glenbrook research note exploring the transaction aggregation platform recently announced by Peppercoin as V2.0. READ MORE »

July Edition of Glenbrook Flash Now Available

The July edition of the Glenbrook Flash newsletter is now available on the Glenbrook website. This edition includes coverage of Peppercoin, Blackboard, Coinstar, I-S-Cubed, Next Estate and Vindicia.

NPC Reports Earnings

National Processing, Inc. (NPC) -- now in the process of being acquired by Bank of American -- reported earnings yesterday. In an industry that some pundits claim is "experiencing pricing pressure", NPC reported a 17% increase in revenue year over year on transaction volumes up 16% and payment dollar volume up 14-15%.

July 15, 2004

Merchants Benefit from Australia Credit Card Reforms

The Reserve Bank of Australia has published an article reviewing the effects that its recent reforms have had on the credit card industry (PDF) in that country. READ MORE »

Carl Pascarella to Retire from Visa USA

Visa USA has announced that its current president and chief executive officer, Carl Pascarella, plans to retire from Visa in 2005.

[Update - July 11, 2005: Visa USA has announced John Philip Coghlan as its new president and CEO, replacing former CEO Carl Pascarella.]

July 14, 2004

Moogul is for Renting and Sharing

Leslie Walker reports in the Washington Post on, a new website billing itself as the "eBay of renting and sharing." See Moogul's About Us page for more information about the company. READ MORE »


41st Parameter, a Scottsdale, AZ-based startup, has announced PhishingNet, a product designed to allow enterprise customers to "immediately differentiate between legitimate and fraudulent users on their websites, even when UserId’s and passwords have been compromised." READ MORE »

Micropayment Market Size Updated

Peppercoin and Ipsos-Insight have published the results of a consumer survey focusing on online purchases of digital content by U.S. consumers. READ MORE »

Corillian Launches Anti-Phishing Solution

Corillian has announced the Corillian Fraud Detection System designed to allow financial institutions to detect and prevent phishing attacks on their customers. READ MORE »

More on Bank of America's Acquisition of NPC

Ken Berzof reports in the Louisville, KY Courier-Journal (NPC's home town) on the acquisition announced yesterday of NPC by Bank of America.
National Processing processes debit- and credit-card transactions with about 1,350 employees at its processing and call center on Durrett Lane. The union could boost National Processing's Louisville presence, said David Fountain, chief financial officer. "Bank of America is intent on growing its merchant business and making Louisville its headquarters. That sounds positive to me," he said.

TD Bank Outsources ATM Network to HP

David Akin reports in the Globe and Mail on Toronto-Dominion Bank's decision to outsource the management of its ATM network to Hewlett-Packard that will be worth some C$420 million over seven years to HP.

Reserve Bank of Australia Posts Comments Received

The Reserve Bank of Australia has posted comments it has received from the industry on its proposed EFTPOS and ATM interchange fee reforms.

July 13, 2004

AirPlus Launches Corporate MasterCard in U.S.

AirPlus International has announced it is partnering with GE Corporate Payment Solutions to introduce the AirPlus Corporate Card to the U.S. market. READ MORE »

Mark Goldstein: InStoreCard

Investor Outlook Ventures profiles the CEO of one of its portfolio companies: Mark Goldstein, CEO of InStoreCard. READ MORE »

Australia's NAB Issues Ant Rewards Card with American Express

Tim Boreham writes in The Australian about the National Australia Bank's new co-branded American Express card and wonders whether the NAB was motivated to launch the card because of the Reserve Bank of Australia's regulation of Visa and MasterCard interchange fees. READ MORE »

Bank of America to Acquire NPC

Bank of America has announced it is acquiring National Processing, Inc. (NPC) from National City Corporation for $1.4 billion in cash. When combined with its existing merchant acquiring business, the acquisition will result in Bank of America being the second largest merchant acquirer in the U.S. market. READ MORE »

NACHA Reports Big Growth in ARC ACH Payments

NACHA has announced a major surge in the growth of accounts receivable (ARC) e-check payments as major billers are rapidly adopting the use of ACH to truncate checks in their lockbox operations. READ MORE »

July 12, 2004

Visa USA Launches Signature Card Campaign

Visa USA has announced that it is launching a new national marketing campaign focused on positioning Visa as the card of choice among high-end consumers. READ MORE »

How to Subscribe to Payments News

We're often asked by our readers how they can subscribe to Payments News. Here's what we recommend. READ MORE »

Substitutes for Checks Carry Costs

Shannon Buggs reports in the Houston Chronicle on the costs that may be associated with certain payroll debit cards and questions the lack of a savings mechanism on the cards.

Meanwhile, an AP story in the Fort Wayne Journal Gazette highlights the growth that Visa and its member banks are seeing on its payroll card product.

The potential market is huge. About $11 billion in payroll payments and $4 billion in benefits payments such as commissions and incentives were loaded onto prepaid cards in 2003, according to a study by the Mercator Advisory Group in Shrewsbury, Mass. Such payments are growing at more than 11 percent a year, said Tim Sloane, Mercator’s director of debit advisory service.

If cards replaced checks issued each year to 130 million employees who lack bank accounts, are temporary employees or work at remote locations, such payments could reach an annual $109.8 billion, Sloane said.


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