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« January 8, 2006 - January 14, 2006 | Main | January 22, 2006 - January 28, 2006 »

January 21, 2006

Bank of Hawaii To Offer Amex, Visa Credit Cards via MBNA

Bank of Hawaii Corporation and MBNA America Bank, N.A. have announced the signing of a joint marketing agreement under which Bank of Hawaii will offer Visa and American Express credit cards to consumers and Visa credit cards to businesses.

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Connecticut Attorney General Upset About Surcharges

Anusha Shrivastava reports for the Waterbury, CT Republican American on concerns being raised by Connecticut State Attorney General Richard Blumenthal about surcharges that utilities are charging customers who pay their utility bills by credit card.

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Bank of America Customers Reporting Debit Card Fraud

Candace Heckman reports for the Seattle Post-Intelligencer on numerous reports from Bank of America customers of checking account fraud in Seattle and elsewhere in which ATM cash withdrawals and purchases are occuring overseas.

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Smart Cards Rollout in New Zealand This Year

The New Zealand Banking Business Review reports on comments by Visa's New Zealand head Ian Jamieson that smart card rollouts will accelerate in 2006.

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TechCrunch Profiles Social Money Startup BillMonk

Michael Arrington has profiled the new "social money" startup BillMonk over on his TechCrunch blog. See also our earlier post about BillMonk.

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January 20, 2006

Online Banking: How Safe Is Your Money?

Robin Arnfield writes for Newsfactor Online about the safety of online banking and the range of efforts being taken by financial institutions to better secure their systems against attacks.

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Citigroup: Significant Decline In US Card Income

Citigroup has reported financial results for the fourth quarter of 2005 with Citi's US Card business reporting revenues declining 7 percent prior to applying an additional accounting charge (related to customer reward programs) that further reduced its reported revenues.

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MasterCard: Chinese Consumers Optimistic

People's Daily Online reports on a MasterCard survey of Chinese consumers which concludes the Chinese are highly optimistic about their future, with "confidence in their life quality and income."

January 19, 2006

UK: Internet Shopping Reaches 10% Of Retail Sales

Ashley Seager reports for the UK's Guardian that the value of goods sold over the internet rose by 50% this Christmas compared with last year according to figures from the Interactive Media in Retail Group.

Vindicia: Product Manager, Senior Software Engineer

Vindicia, a Foster City, CA-based company focused on payment infrastructure for digital merchants, has posted position openings for a Director of Product Management and a Senior Software Engineer.

Stop Interchange Now?

Stop Interchange NowEarlier this week, PR firm Bite Communications, on behalf of a mysterious group called StopInterchangeNow.com, published a press release about a small protest outside the Javitz Center in New York City where the National Retail Federation's annual conference was being held.

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Call for Papers: 2nd Annual Consumer Behavior and Payment Choice Research Conference

Federal Reserve Bank of BostonThe Emerging Payments Research Group of the Federal Reserve Bank of Boston has published a call for papers for its second annual Consumer Behavior and Payment Choice Conference to be held in Boston, MA on July 26-27, 2006.

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German Retailers File Complaint About Card Fees

Expatica reports that a legal complaint aimed at cutting interchange fees charged by credit card groups VISA and Mastercard has been filed in German with the country's federal monopolies body.

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McDonald's To Accept American Express ExpressPay

McDonaldsAmerican Express has announced that McDonald's USA has begun accepting ExpressPay from American Express. Cardholders can use ExpressPay at more than 12,000 McDonald's restaurants nationwide.

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BBC: Britons 'Waiting On Chip And PIN'

The BBC reports on the status of the "chip and PIN" rollout on credit and debit cards in the UK based on a recent survey by Retail Decisions.

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American Express Eyes China Banking License

People's Daily Online reports that American Express is considering applying for a banking license in China.

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January 18, 2006

The Stored Value Market In 2006

Lyle Elias reports for ATMmarketplace.com on his outlook re: stored value cards for 2006 - including speculation about the potential launch of a Discover signature-based debit card.

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PayPal Revenues Exceed $1 Billion For 2005

PayPal's parent eBay announced fourth quarter financial results this afternoon. For the first time, eBay's payments revenues (including PayPal) reported full year revenues just a bit over $1 billion ($1,028.4 million).

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Driver's License-based Payment System

Digital Transactions reports on Combined Payments Network LLC, a startup preparing to introduce a new ACH-based payment system that would use driver's licenses instead of plastic cards.

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American Express and GE Consumer Finance Announce Card Issuing Alliance

American Express and GE Consumer Finance have announced that GE Consumer Finance will issue American Express-branded credit cards in the United States. The first product to be offered under the new agreement will be a Dillard's American Express card.

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Citi Launches Five New American Express Cards

American ExpressCiti has updated its web site to feature its five new flavors of Citi American Express-branded cards. The cards are offered in three categories: travel (AAdvantage, PremierPass), cash back/rewards (Dividend, Diamond Preferred Rewards), and premium (Platinum).

Credit Card Offers Plague College Students

Emily Smith reports for the student newspaper at Ohio's Wright State University on credit card debt of college students.

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61 Percent of Bank Account Users Bank Online

Feedback Research has announced the results of recent research that concludes that 61 percent of consumers who have a bank account banked online. Those who didn't bank online liked the face-to-face contact at their bank's branch or found no need to bank online. Almost ten percent of respondents who banked online said they had an account at an Internet-only bank.

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Consumers Plan to Reduce Credit Card Debt in 2006

Experian and the Gallup Organization have announced the latest monthly findings from their monthly survey of consumers regarding their views on credit. 65 percent of consumers say they are "very likely" to reduce their credit card debt in 2006. Another 19 percent say they are "somewhat" likely to do that. Consumers are less optimistic that they will reduce their overall level of debt -- just 47 percent say they are "very likely" to make that goal, while another 25 percent are "somewhat likely" to do so.

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