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June 13, 2007

Google Checkout Cancels Boston Party

Earlier this week, Google Checkout announced it would be holding a "Let Freedom Ring" party Thursday evening in Boston - where eBay is holding its eBay Live! conference. Tonight, apparently after considerable back and forth between the two companies, Google announced that the Google Checkout party planned for tomorrow night has been cancelled.

Capital One Tests New Decoupled Debit Card

Aleksandra Todorova writes for SmartMoney about Capital One's new "decoupled debit" card strategy. (See earlier posts on this new Capital One product on Payments News here and here.)

Overhauling the US Health Care Payment System

The McKinsey Quarterly has a new article titled "Overhauling the US Health Care Payment System" (registration required). From the abstract: "Over the next five years, rapid innovation may lead to a restructuring of the value chain of health care payments and to a shift in the sector’s balance of power. Financial institutions have an opportunity to take on a more prominent role, while payers risk losing influence to new entrants. Providers stand to benefit as fewer dollars are wasted on transaction-processing inefficiencies."

GSA Awards JPMorgan Chase SmartPay2 Charge Card Contract

The U.S. General Services Administration has named JPMorgan Chase winner of a GSA SmartPay2 charge card service contract, certifying that the company can offer its charge card services to any U.S. federal entity.


U.S. - A Global Leader in Retail Bank Performance

The U.S. ranks as one of the top three countries in overall retail banking performance, according to a new, global study by management consulting firm Booz Allen Hamilton; Hong Kong and Switzerland are the other leaders. However, the study concludes that banks in all regions have room for improvement.


CVS/pharmacy Offer Own Gift Card via Coinstar Coin to Card

Coinstar has announced that CVS/pharmacy is expected to have gift cards available in more than 360 Coinstar Center kiosks in CVS/pharmacy stores this summer. The Coin to Card service allows consumers to convert their loose change to a CVS card at the Coinstar kiosk and pay no coin-counting fee.


Chase Unveils Rapid Cash - Free Money Transfers to Mexico

Chase has introduced Rapid Cash - calling it "an easy new way to send money to Mexico for free."


Fidelity National Financial Joins ID Analytics ID Network

ID Analytics has announced that Fidelity National Financial will be using ID Analytics ID Network - what the company calls "the nation's first and only real-time fraud prevention network" - to manage identity risk.


PayPal to Roll Out 'Advanced Risk Predictors'

Ina Steiner reports for about comments made by PayPal CTO Scott Thompson in a keynote address to eBay's Developers Conference in Boston. She reports that "in October, PayPal will test a Web Service that utilizes advanced risk predictors, giving merchants more information and control over whether to accept payments, while maintaining buyer privacy."

The full text of Thompson's keynote is available on the PayPal Developer Blog. Thompson concludes his keynote address to PayPal developers with the comments: "Imagine the hundreds of opportunities in the offline world. Perhaps you’re the guy to take an Internet-only company and extend it into the brick-and-mortar world."


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