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« April 10, 2005 - April 16, 2005 | Main | April 24, 2005 - April 30, 2005 »

April 23, 2005

China: eBay's Eachnet Cuts Listing Fees

Bill Bishop reports on his blog re: news from China about eBay's Eachnet cutting its listing fees as of May 1st.

I doubt they would be cutting prices if business were booming for them in China. I believe Alibaba's Taobao continues to take share from Ebay in China.

Compare PayPal's Fees

PayPal has a handy online calculator that allows merchants to compare their current bank card acceptance pricing with that of PayPal's.

We're often asked if a PayPal Business account is more or less expensive than a traditional online merchant account. The inquirer is often surprised when we say that a PayPal Business account is less expensive, even for multi-million dollar online businesses.

April 22, 2005

Using Payment Cards in Business is published a six-part series in association with HSBC on the effective use of payment cards in business. The first two parts are now available: Introduction to Payment Card Business and Corporate Travel & Entertainment Cards.

April 21, 2005

MBNA Sees Difficult Environment

MBNA has reported financial results for the first quarter.

The Corporation's results were further impacted by unexpectedly high payment volumes from U.S. credit card customers.

While sales volume on MBNA credit cards grew 9.5%, MBNA's credit card loans outstanding declined 9.4% over the same quarter a year ago and 8.9% compared to the fourth quarter of 2004. MBNA has posted is first quarter business results presentation online (PDF).


Federated Department Stores to Accept Discover Network Cards

Discover has announced that Federated's 450 Macy's and Bloomingdale stores began accepting Discover cards on April 1.


Credit Cards Buoy Profits For JP Morgan Chase

Ted Griffith reports for Delaware Online on Chase's first quarter earnings.

Craig Woker, an analyst with Morningstar in Chicago, called Chase's card business one of the "bright spots" in the first quarter, offsetting what he described as weakness in other areas, such as commercial lending.

April 20, 2005

PayPal Financial Results

As part of today's announcement of eBay's first quarter financial results (PDF), PayPal reported a 44% increase in total payment volume to $6.2 billion with 71% of that volume associated with auction payments.

PayPal reported total payment accounts (both registered and unregistered users) grew 57% to 71.6 million. Active accounts were 22.1 million in the quarter. In the conference call, eBay CEO Meg Whitman pointed out that PayPal's user base exceeds that of Discover and is over twice the size of Bank of America's.

PayPal's transaction revenue rate grew slightly from 3.60% to 3.64% while the transaction processing expense rate declined from 1.25% to 1.15%. PayPal's transaction loss rate ticked up slightly from 0.27% to 0.30%.

Overall, PayPal's net revenues for the quarter were $233.1 million, up 47% over last year.

Citigroup Brings Rewards to Banking

Jennifer Saranow reports in the Wall St. Journal on Citibank's new ThankYou Points retail bank awards program with bonuses paid based upon the number of Citi banking products and services used by each customer.

In a press release, Citi provided more details about the ThankYou program.


MasterCard Expanding Fees on International Transactions

Jennifer Saranow reports in today's Wall St. Journal on plans by MasterCard to boost fees on all card transactions abroad.

MasterCard says that starting Oct. 1, it will charge issuers a fee of 0.8% on all transactions when the card holder and merchant are from different countries. The company also plans to levy an additional 0.2% whenever a merchant's foreign currency needs to be converted. The new fees apply to users of both MasterCard credit and debit cards, and include ATM withdrawals and debit-card purchases.

Municipal Credit Union Introduces Real-Time, Account-to-Account Money Transfers Through NYCE Network

Municipal Credit Union and NYCE have announced that MCU will introduce NYCE's new real-time, account-to-account (A2A) money transfer service to MCU's 300,000 members.

MCU is the first financial institution to support NYCE A2A across multiple customer delivery channels -- beginning last year with kiosks, today with online banking, and ATMs later this year.

To transfer funds using A2A processed on the NYCE network, the sender needs the receiver's ATM/debit card number. A2A requires both the sender and the receiver to hold accounts with financial institutions affiliated with the NYCE Network. For security reasons the receiver's PIN and expiration date are never required.

Visa USA Adds Another Layer of Technology to Help Member Financial Institutions Prevent Fraud

Visa USA today announced the addition of a new layer of technology to help its Member financial institutions reduce application fraud losses and account takeover fraud. The new fraud fighting effort is being developed through an association with Chex Systems, Inc., a wholly owned subsidiary of eFunds Corporation, and will only be available through Visa to its card-issuing Members.


April 19, 2005

Visa Teeing Up for New Round of Card Growth in China

China Daily reports on some of Visa's plans for growing its base of cards issued in China.

Presently, there are around 5.6 million Visa credit card holders on the mainland, but the cards issued are not for use locally. Visa's 17 local member banks and five foreign financial institutions provide credit card services for local card holders who then have access to credit services when they travel overseas, as well as for international tourists who are travelling on the mainland.

Juniper in Joint Charge Card Venture

Ted Griffith reports for Delaware Online on Juniper Bank's deal announced yesterday to issue both American Express and Visa cards for its client UBS.

Juniper, the No. 18 U.S. card issuer, has about 1 million cardholders. UBS has more than 2 million clients for its U.S. retail brokerage business, which UBS calls its "Wealth Management" unit.

Separately, Juniper announced this morning that it has extended its strategic alliance with MasterCard.


UK Banks Act to Beat Online Fraud

Nick Goodway reports for the Evening Standard on plans by UK banks to issue consumers hardware devices to help verified their identities when banking or shopping online.

Tony Salmond, consultant to Apac's e-commerce group, said: 'We are in the final stages of consulting with our banks to determine the flavour of these specifications we will see as a UK standard. By the start of May we should have agreement on the authentication standard.'

April 18, 2005

DSW Releases Findings From Fraud Investigation

Retail Ventures today announced the findings from its investigation into the theft of credit card and other purchase information from its subsidiary, DSW Shoe Warehouse (DSW).


UBS Selects American Express, Juniper Bank and Visa

UBS has announced a new dual-card program that will give clients access to charge card, credit card and ATM services through their UBS Resource Management Account. The program will be provided by Juniper Bank, a member of the Barclays Group, who will issue an American Express-branded charge card and a Visa Signature credit card.


Visa Launches National Advertising Campaign with Payment Card Security Theme

Visa USA has announced the second phase of its national security advertising campaign featuring a series of advertisements promoting Visa's "layers of security" approach to secure payment card transactions.


April 17, 2005

China Ecommerce Growth

China's e-commerce, in a crucial stage of development, is to grow at over 50 percent every year, said Song Ling, chairman of China Electronic Commerce Association.


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