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« March 5, 2006 - March 11, 2006 | Main | March 19, 2006 - March 25, 2006 »

March 18, 2006

Survey Says - Last Call

Here's our VOC - "Voice of the Customer" - you!.The Payments News Survey

  • I like it just the way it is -- the recent change in format was definitely for the better
  • The best i've seen - no ideas
  • I would appreciate a little more news relating to other localities - Asia and Europe
  • It would be better if Payment news can be more "global" in nature rather than focusing too much on USA.
  • I love your site and have it as an RSS feed...I think you get a lot free publicity from it.
  • More "So what?" rather than just links.
  • More primers on particular topics (you could get readers to contribute)
Those are just a few of the comments from the Payments News Survey. We appreciate them all!

If you've not yet had a chance to participate in the Payments News Survey and share your voice, please try to do so in the next few days. We'll be wrapping things up, digesting the results, and sharing some more of the feedback here later next week!

For those of you who have already completed the survey, thanks very much again for taking the time to do so. Your feedback is very valuable and important to us in improving what we do here on Payments News.

Mortgage Fraud Is Booming Crime Across Canada

Mario Toneguzzi of the CanWest News Service writes about mortgage fraud becoming over a billion dollar a year industry in Canada.

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Credit Bureaus Lobby For Limits On Consumer File Locks

Damon Darlin reports for the New York Times on lobbying efforts by the three major credit bureaus to add language to pending federal legislation that would pre-empt various state laws that enable consumers in some states to lock the information in their credit reports. As concerns about identity theft have grown among consumers, legislators in some states have passed laws that provide the locking (or "freezing") capability to their constituents.

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The Metamorphosis Of Capital One

This week's Economist includes an article about the metamorphosis of Capital One from monoline credit card issuer to consumer banking, broadly defined, as highlighted by its recently announced plan to acquire North Fork Bank.

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The High Cost Of A Low Income

The Institute for Public Administration at the University of Delaware yesterday held a conference titled "The High Cost Of A Low Income" to explore financial services in under-served markets.

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March 17, 2006

NACHA's Beyond Credit Push - Some Questions

We've been mulling over NACHA's announcement earlier this week that its board has approved a pilot of a new "credit push" initiative. Glenbrook's Jim Salters shares some initial reactions and raises some new questions about the new NACHA plan.

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Wanted: US Credit Risk Manager

An early stage, very well funded company that we at Glenbrook know is actively looking for a senior professional to head their credit risk function (mainly smaller consumer loans) prior to launch of the company in the US. The position is based in San Francisco.

If you're interested in exploring this opportunity, please send an email as soon as possible to .

The Payments News Survey - Last Call

If you've not yet had a chance to participate in the Payments News Survey, please try to do so in the next few days. We'll be wrapping things up, digesting the results, and sharing some of the feedback here later next week!

For those of you who have already completed the survey, thanks very much again for taking the time to do so. Your feedback is very valuable and important to us in improving what we do here on Payments News.

Visa Introduces Prepaid Load Network

Visa USA has announced the Visa Prepaid Load Network, a new service which will allow consumers to more easily purchase and add funds to Visa reloadable prepaid cards at participating merchant locations across the U.S.

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ZIP Code Turns Into An Authentication Factor

Hiawatha Bray writes for the Boston Globe about the increasing use of ZIP code as an additional authentication factor for card authorizations at the point of sale. Bray notes differences in policies between, for example, American Express (allows) and MasterCard (prohibits) in allowing merchants to prompt for the ZIP codes as well as both the potential for and the issues associated with using biometrics for cardholder authentication at POS.

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Visa Alerts Acquirers - Potential POS Software Flaws

Robin Sidel reports in this morning's Wall St. Journal on a recent alert sent by Visa USA to merchant acquirers that some third-party POS software may be storing certain card or PIN information inappropriately.

Out Of The Country And Out Of Luck

Carol Pucci writes for the Seattle Times about how banks are getting more aggressive about "locking down their systems when they suspect fraud, leaving travelers stranded without access to their cash, and no warning." Being on the road with no access to cash from ATMs makes a grouchy traveler!

Troubling Lack Of Answers In Debit Card Fraud Episode

Andrew Kantor comments for USA Today on the recent incidents of debit card fraud and expresses frustrations that either no one knows where the security breach occurred enabling the fraud or no one is telling.

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March 16, 2006

Visa Introduces Contactless Mini Card

Visa has announced the availability of the Visa Contactless Mini Card intended to be issued as a complementary card to a Visa credit or debit card.

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Experian Introduces Credit Migration Solutions

Experian has announced the launch of Credit Migration Solutions providing credit grantors a new solution that analyzes the credit behavior of customers and prospects to make acquisition, portfolio management and collections decisions.

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MasterCard Files 10-K for 2005

MasterCard has filed its 10-K for 2005 with the SEC.

NACHA Outlines Strategies, Benefits For "Beyond Credit Push"

NACHA has posted a white paper titled "Beyond Credit Push" (PDF) that describes the strategy and rationale behind its announcement yesterday of to pilot a process that enables consumers to make payments and transfer funds between accounts after logging in to their banks’ online banking programs.

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NACHA Starts Signups For Web-Payment Pilot

Digital Transactions provides more details about NACHA's announcement yesterday that it would soon begin piloting a new application to allow consumers to make payments and transfer funds between accounts after logging in to their banks’ online banking programs and compensate banks via an interchange fee for providing the service.

Mercator: Contactless Emerges As A Viable Smart Card Platform

Mercator Advisory Group has announced a new report titled "Contactless Emerges As A Viable Smart Card Platform" by principal analyst Melanie Broad.

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Treasury Targets Prepaid Cards To Fight Financial Crime

Reuters is reporting that U.S. Treasury officials are "planning a crackdown on so-called prepaid cards" to help safeguard the financial system from a surge in money laundering and other crimes including terrorist financing.

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A Second Home For PayPal

Jennifer Meyer writes for the La Vista, Nebraska Sun about PayPal's construction of a new 250,000 square foot building in La Vista that will add 600 new jobs by the end of the year.

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March 15, 2006

Some Consumers Still Uncomfortable With Online Banking

The Conference Board has released some new results from its Consumer Internet Barometer which found that nearly 52 percent of online consumers are extremely concerned about security when banking online, although the level of concerned consumers has fallen from 62 percent in 2004.

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Study Says Chips In RFID Tags May Be Vulnerable To Viruses

New York Times reporter John Markoff covers recent research by a group of European computer researchers who have demonstrated inserting a software virus into RFID tags.

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Earthquake, Disaster Preparedness Focus of New Wells Fargo Blog

Wells Fargo has announced the launch of "Guided by History", a new corporate blog devoted exclusively to earthquake and disaster preparedness. The blog's launch is timed to coincide with the 100th anniversary of the 1906 San Francisco earthquake and fire.

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Who We're Watching: Harland - Making Checks Better

Whenever we start thinking that the world of checking is coming to an end, we learn about a new initiative that is making checks better. Glenbrook partner Carol Coye Benson was briefed last week by Harland on their new Validify solution to combat identity theft and check fraud.

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