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January 31, 2006

Nova Buys First Horizon Merchant Services Business

ViewMedia-5.jpgNOVA Information Systems (NOVA), a wholly owned subsidiary of U.S. Bancorp, has announced that it has entered into a definitive agreement to acquire the merchant processing business of First Horizon Merchant Services Inc. (FHMS), a wholly owned subsidiary of First Tennessee Bank and a part of First Horizon National Corp.

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TextPayMe Update

TextPayMe CEO Phil Yuen emailed me today with some updates on his recently launched mobile payments startup.

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Fote Reports Sale Of Addl. $11.8 Million of FDC Stock

In a Form 4 filing with the SEC today, former First Data Chairman and CEO Charlie Fote disclosed the sale of another 262,000 shares of First Data Corp. stock last Friday grossing about $11.8 million.

Javelin: Identity Fraud Growth Is Contained

Javelin Strategy & Research and the Council of Better Business Bureaus have released some of the results from their 2006 Identity Fraud Survey reporting that "that despite growing fears the growth of identity fraud is contained and that data compromise through the Internet is actually less severe, less costly and not as widespread as previously thought."

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CardinalCommerce Offers SECURE-eBill

CardinalCommerce has announced it is now partnering with MODASolutions to offer SECURE-eBill, a payment option that enables consumers to shop online and pay for their purchases through the comfort and security of their online banking account.

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Charlie Fote Nets $50.8 Million on First Data Stock Sale

David Milstead writes for the Rocky Mountain News about former First Data Corp. Chairman and CEO Charlie Fote selling $108 million of FDC stock last Friday following the company's announcement Thursday that it would be restructuring with the spin-off of Western Union. The sale was disclosed in an SEC filing from the company yesterday.

Javelin Strategy & Research Launches New Blog

Javelin Strategy & Research has launched a new blog where, according to Bruce Cundiff, manager of Javelin's syndicated research practice, they intend to provide more information about their research findings and more frequent insight and analysis.

Visa's OATH-based Dynamic Pass Code Display Card

passcode_card.jpgInternet Retailer reports on Visa International's efforts working with Innovative Card Technologies and nCryptone to bring to market a card containing a display that will present one-time use passcodes for use in making ecommerce purchases.

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More On The FASTLANE Payments Network

FASTLANE has published a press release with a bit more background on their new driver's license-based payments network planned for official introduction at the ETA show in April.

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January 30, 2006

New Edition Of The Visa Quarterly

VisaVisa International has published the first quarter 2006 edition of The Visa Quarterly (PDF version). Features include an interview with Tom Shepard, Visa's executive vice president of Global Sponsorship and Partnerships, a look at how electronic payments help drive growth in tourism, and an inside look at Visa's sporting sponsorships.

India: Buy Local Train Ticket Using Mobile Phone SMS

Sanjeev Devasia reports for MidDay from India about using mobile phone SMS messages to buy a ticket for a local train.

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EmigrantDirect Launches Cash Back Platinum MasterCard

EmigrantDirect has officially announced its add-on cash back credit card intended for customers of its American Dream high yield savings account.

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India Builds Out POS Acceptance Infrastructure

India's Business Standard reports on the rapid growth now underway in the number of point of sale terminals in India.

MasterCard, Citi Consumer Trial of Contactless Payments

MasterCard and Citi have announced that they will be working with the Metropolitan Transportation Authority and MTA New York City Transit to conduct a trial of contactless payments in select New York City subway stations with pre-selected Citi customers.

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Debitman Announces New Supermarket Pilots

HAC Inc., operator of 67 supermarkets in Oklahoma and Kansas including 49 Homeland Stores, has announced it is launching its own branded debit card, the One Card Plus, on the Debitman network at five pilot locations. Binghamton Giant Markets in Binghamton, NY has also announced its own Giant EXTRA Plus debit card program running on the Debitman network.

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ID Theft Declines, But Losses Per Victim Increase

Christopher Conkey reports for the Wall St. Journal on new research by Javelin Strategy & Research and the Better Business Bureau to be released tomorrow that concludes that about 8.9 million people in the US had their personal data stolen last year as compared to 9.3 million people in 2004.

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Gift Cards Dominate Holiday Season

Gift cards dominated the 2005 holiday season as the gift of choice for consumers, who redeemed them quickly on goods that were worth more than the value of the cards, according to the results of a recent Accenture survey of more than 500 U.S. consumers.

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Credit Card Competition Ramps In Australia

Stephen Bartholomeusz writes for the Sydney Morning Herald about the launch of HBOS-owned BankWest's new low rate credit card along with similar offerings from non-banks Virgin Money, GE Money's Wizard and John Symond's Aussie Home Loans.

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January 29, 2006

Gift Card Fees, Rules - Consumer, Legislative Concerns

Lauren Wilbert reports for the Medill News Service on increasing consumer concerns about gift card fees and rules that are increasingly drawing the attention of legislators.

Visa To Split Up Overseas Divisions

Peter Thal Larsen reports from Davos for the Financial Times on plans by Visa International to turn its regional organizations in Asia, the Middle East and Latin America into separate companies.

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Watching From A Distance

Harris Murray writes for the Times and Democrat in Orangeburg, SC about how she finds it reassuring to be able to see her daughter's MasterCard charges online while she's on a foreign trip away from home.

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India Consumer Group Discourages Credit Card Use

The Hindustan Times reports from Hyderabad on efforts by Bangalore-based Credit Card Holders' Association of India to educate Indian consumers about the risks of credit card debt as Indian and foreign banks are ramping up their credit card marketing efforts in the country.

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