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June 28, 2007

A Look At Consumer Credit Reports

Last week, in testimony before the US House Financial Services Committee, Sandra Braunstein, Director, Division of Consumer and Community Affairs of The Federal Reserve Board, provided a deep look at consumer credit reports in the US. The Committee was looking into issues associated with errors in credit reports and how consumers can get the errors corrected.

Visa Quarterly Looks at Mobile Payments, Visa Mobile Platform

The new issue of The Visa Quarterly is mostly devoted to mobile payments - including an interview with Dave Wentker, vice president of Mobile Innovation at Visa International, and a discussion of Visa's Mobile Platform. Payments News took a look at Visa's Mobile Platform earlier this year.

Mercator Looks at HSA Growth

Mercator Advisory Group has released a new report titled "HSA Growth Accelerates In Uncharted Waters" that discusses the significant investments being made to implement Prepaid HSA cards that will provide significant benefits to cardholders and Third Party Administrators.


Small Ticket Payments Get Boost from Federal Reserve Decision on Regulation E

Visa USA says that a Federal Reserve Board decision announced earlier today will "make it easier for merchants to accept cards at vending machines, parking lots and a range of other locations, giving consumers more places to make convenient, small ticket purchases with their Visa cards."


AccountNow Closes $12.75 Million in New Funding

AccountNow, a marketer of MasterCard and Visa branded prepaid cards, has announced the closing of $12.75 million in a third round of venture funding led by Trident Capital.


Banks Explore 'Price Optimization'

TowerGroup has announced a new report titled "Price Optimization: A Practical Guide to a Retail Bank Implementation" that finds that the "strategies and procedures used by most banks today to set prices remain too simplistic. Banks are still relying heavily on manual processes and so are prone to errors, and they often exclude consideration of a critical factor -- the consumer's price elasticity of demand."


mFoundry Expanding Mobile Financial Services Platform to Support iPhone

mFoundry has announced the expansion of its Spotlight Financial Platform to enable mobile banking applications on the iPhone.


Northwest Airlines Offers PayPal for Ticket Purchases

Northwest Airlines has announced that it is now offering PayPal as a way to pay for tickets at its Web site "With more than 140 million accounts, PayPal is a global leader in online payment solutions that allows a safe, easy way to pay for items and services online. With PayPal, Northwest customers now have a new way to pay for tickets using debit cards, bank accounts, stored balances, or credit cards through their individual PayPal accounts."


Fed Approves Reg E Changes for Small Transactions

The Federal Reserve Board has announced its approval of a final rule to create an exception for transactions of $15 or less from Regulation E's requirement that receipts be made available to consumers for transactions initiated at an electronic terminal. According to the Fed, the rule is intended to facilitate the ability of consumers to use debit cards in retail environments where making receipts available may not be practical or cost effective. A copy of the Federal Register notice (PDF) is available online.

Visa Analyzes Key U.S. Business Spending Trends

Visa USA has released a "detailed analysis revealing key insights into how U.S. businesses large and small are spending their money. The Visa Commercial Consumption Expenditure™ (CCE) Index for 2006 analyzes government data sources and research methods to provide a useful assessment of business expenditures."


Visa Confirms Global FIFA Relationship

Visa International and FIFA (Fédération Internationale de Football Association) have announced confirmation that "Visa has become a FIFA Partner with global rights to a broad range of FIFA activities, including the 2010 and 2014 FIFA World Cups and the FIFA Women's World Cups." According to an article by Robin Sidel in the Wall St. Journal, Visa will be paying $170 million for the sponsorship.


Fed Weighs Future of Contactless Payments

Paul F. Roberts writes for InfoWorld about a conference held last month by the Federal Reserve Bank of Boston exploring various aspects of contactless payment technology including security.


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