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« December 25, 2005 - December 31, 2005 | Main | January 8, 2006 - January 14, 2006 »

January 07, 2006

Credit Card Payments: Why So Much?

CBS News' Ray Martin takes a look at increases in minimum payments for credit cards.

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January 06, 2006

Hold The Plastic: Bill Me Later

Bill Me LaterPeter Burrows reports for BusinessWeek.com on I4 Commerce's Bill Me Later online payment alternative.

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UK: Consumer Borrowing Shifting From Unsecured To Secured Debt

Jamie Chisholm reports for FT.com on the shifting moods of UK consumers with respect to borrowing as consumers cut back on credit card borrowing and towards secured borrowing.

Telco's As Toll Takers: Will E-Tailers Be Next?

This morning's Wall St. Journal's cover story by Dionne Searcey and Amy Schatz is about how telephone companies are gearing up to charge fees to the major Internet content providers - the likes of Google, Vonage and others - for providing high-quality delivery of content over the Internet.

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E-Gold Under Scrutiny

Brian Monroe reports for Florida Today about the law enforcement investigation underway of Gold & Silver Reserve, Inc., the parent company of e-gold Ltd as reported earlier in this week's Business Week.

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January 05, 2006

Retailers And Bankers Say Paper Checks On The Way Out

Claire Parker reports for the Fayettville (NC) Observer on local merchants dropping paper checks as a payment method.

Companies have banned or changed the way they process checks not because of the ease of electronic payments, but because they are protecting themselves.

Will Consolidation Make Credit-Card Costs Climb?

Ted Griffith reports for the Wilmington News-Journal reports on consumer advocate concerns that the continuing consolidation of credit card issuers may result in less attractive pricing for consumers.

Ask Glenbrook: Ecommerce Sales Volumes?

Here's another Ask Glenbrook question:

Where can I find official ecommerce sales volumes?

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First Annapolis: Top Global Merchant Bank Card Acquirers

In the latest issue of its monthly Navigator newsletter (subscribe), First Annapolis has provided its second annual update to its list of the world's largest merchant bank card acquirers. Prepared by Charles Marc Abbey and Olga Czabaj from a variety of data sources, the list is based on acquirers who are doing business in one of the four large acquiring markets in the world: US, UK, Canada and France.

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US Bank Voyager Acquires Advent Business Systems

US BankUS Bank Voyager Fleet Systems has announced the acquisition of Advent Business Systems, Inc., based in San Mateo, Calif. Advent provides technology that is deemed to be the most powerful, comprehensive and complete accounting management systems available to the petroleum and energy product supply chain. Terms of the transaction were not disclosed.

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BitPass Acquires Yaga

BitPass-Logo.jpgBitPass has announced it has acquired substantially all the assets of Yaga, Inc., a developer of payment and accounting solutions for content providers.

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Axalto Wins World's First China EMV Card Project

AxaltoAxalto has announced that its multi-application smart cards, Palmera, has been selected by ICBC (Industrial and Commercial Bank of China) for the world's first Chinese EMV card issuance project.

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Ten Steps To Debt Freedom

Mary Rowland reports for MSN Money on ten steps credit cardholders can take to deal with their credit card debt.

The average American pays more than $1,000 a year in interest fees and carries a balance of $9,100 on two to three bank credit cards, according to recent estimates. And credit card companies are tacking on new fees and raising interest rates that make it even more expensive.

A Look At Universal Default

Ben Werner reports for South Carolina's TheState.com on credit card issuer "universal default" policies and results from a recent survey of the practice by Consumer Action.

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January 04, 2006

US Credit Card Issuers: What'cha Gonna Do - To Grow?

According to the Mercator Advisory Group, US credit card issuers are under increasing pressure as their business growth has shrunk to near or below 5% annually. To address the needs of US credit card issuers for growth, Mercator has published a new research report titled "Opportunities for Growth in US Credit Card Issuing".

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HSAs Interest FIs, If Not Consumers

Glen Fest reports for Bank Technology News on health savings accounts and the increasing interest that financial institutions have in offering these accounts.

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FDC: Ed Labry to Manage Domestic Merchant Services

First Data Corp. has announced that Ed Labry, president of the company's Prepaid Services, will assume additional responsibility for leading First Data's Domestic Merchant Services business. The company also announced today that following a 60-day transition period, Scott Betts, president of Domestic Enterprise Payments, will depart the company.

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Visa USA Reports Holiday Sales Growth

Business Week reports that Visa USA has announced that overall sales volume on its cards during the holiday season between October 31 and January 1 rose 17.5 percent to $257 billion. Visa said about $26.5 billion, or 10.3 percent, of overall spending was conducted online.

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CSO: Keeping Secrets Secret

Simson Garfinkel writes for CSO Magazine on techniques to securely protect data - and let you sleep at night.

All of the following approaches protect the data in the database against both outside attackers and malicious insiders. That's because these tactics work by either eliminating or scrambling sensitive information so that it no longer poses a security risk.

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Online Bill Payment Drives Adoption of Other Online Services

TowerGroup has announced new research by senior analyst Beth Robertson that find that increased consumer comfort and familiarity with online bill payment will help drive consumers toward adoption of other online services -- such as bill presentment, the use of non-traditional payment options, or the use of online account applications -- in 2006.

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Bank of America Expands SiteKey To Northeast

628.thm.jpgBank of America has announced that it made available SiteKey, an online banking security feature that helps prevent fraud and identity theft, to bank customers in the Northeast in December.

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i-modes and Octopi

Market Platform Dynamics has announced a new paper exploring the evolution of mobile payments in Japan and Asia by Andrei Hagiu, an Assistant Professor at Harvard Business School, titled "i-modes and Octopi: Will Asia Reshape the World's Payment Industry?"

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Google Video Said To Be Prepping Pay-Per-View Model

Shankar Gupta reports for Online Media Daily this morning that Google appears to be planning to charge pay-per-view for some videos on its Google Video site.

Speculation surrounding the pay-per-view model suggested that the Google online payments system, Google Wallet, would be used by both downloaders and uploaders to send and receive micropayments for video content.

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Banking Against Wal-Mart

This morning's Wall St. Journal has an editorial about Wal-Mart's request pending with the FDIC to enter the banking business. According to the editorial, the request is being opposed by bankers - in particular, the Independent Community Bankers Association.

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America First: Photo Credit Card With New Visa Design

ServerSide Photo VisaAmerica First Credit Union has announced the launch of its Picture Perfect Visa Card utilizing the new Visa branding, along with photo card personalization technology from Serverside Group. America First is one of the first US issuers to use the new Visa Brand Mark and card design standards.

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EMVCo: New Common Payment Application Specification

EMVCoEMVCo, a joint venture operated by JCB, MasterCard and Visa, has announced the release of the Common Payment Application (CPA) Specification "to facilitate global chip migration and deployment by decreasing the cost, complexity and maintenance requirements of Issuer's card systems."

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FDIC: Making Online Consumers Feel Secure

The latest issue of the FDIC's Supervisory Insights newsletter contains the article "Online Delivery of Banking Services: Making Consumers Feel Secure" by Richard D. Lee, Senior Technology Specialist at the FDIC. This article reviews key findings of an FDIC study that evaluates a variety of identity authentication technologies. The article also focuses on interagency guidance requiring insured financial institutions and service providers to address the protection of sensitive customer data and assets as part of the development of Internet banking products and services.

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