CashEdge has announced that "CashEdge usage data for online payment, invoicing and collections during 2006 and through the first quarter of 2007, reflects the growth in adoption that was predicted by BAI's Small Business Payment Strategies research study in 2006, Aite Group's April 2006 survey of small businesses, and CashEdge's 2006 Small Business Survey. In June 2006, Bank of America became the first U.S. bank to offer electronic invoicing presentment and payment (EIPP) to small-business customers (through its Online Business Suite) and reports that the service has been extremely successful."   » Continue Reading

PayPal has announced the launch of Mobile Checkout, a service that allows consumers in the U.S., U.K. and Canada to buy items securely over the mobile web. According to PayPal, a consumer can visit a merchant’s website and purchase items by clicking on the PayPal button – all from the convenience of their mobile device. To try out PayPal Mobile Checkout, point your mobile phone's browser to http://mobile.paypal.com and click on 'buy something'.   » Continue Reading

First Data Corp. has announced that Michael D. Capellas will become chief executive officer following completion of the acquisition of the company by an affiliate of Kohlberg Kravis Roberts & Co. (KKR). Mr. Capellas will succeed Henry C. "Ric" Duques who has served as Chairman and CEO since November 2005, and previously served as Chairman from 1989 to 2003 and CEO from 1989 to 2002.   » Continue Reading

The Payment Cards Center of the Federal Reserve Bank of Philadelphia has published "Collecting Consumer Debt in America" (PDF) by Bob Hunt, senior economist in the Research Department of the Philadelphia Fed. In the paper, "Hunt explored how creditors and their agents attempt to collect past-due consumer debt, particularly unsecured debt. Creditors have a number of remedies open to them, but their effectiveness is limited by the fact that consumers can file for bankruptcy. Even outside of bankruptcy, consumers enjoy a variety of legal protections, including some they may not be aware of."

MasterCard Worldwide has announced a strategic agreement with Green Dot Corporation, operator of the Green Dot Network, to expand the ability of consumers to reload prepaid cards enrolled in the MasterCard rePower point of sale load network at retail locations throughout the United States.   » Continue Reading

In an article titled 'Chief of Capital One Applies Hockey Strategies to Banking", Eric Dash writes for the New York Times about Capital One chairman and CEO Richard D. Fairbank, also a hockey player and who applies his hobby to the business strategy of Capital One, calling it the Gretzky Concept. Late yesterday, Capital One announced a series of management changes in its banking business.

Kelli B. Grant writes for SmartMoney about the increasing use of gift cards to deliver rebates - saying "the change makes spending your hard-won rebate less rewarding."

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