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December 13, 2007

Fidelity National Information Services Adopts mFoundry’s Spotlight Platform

Fidelity National Information Services has announced the signing of an agreement with mFoundry to offer hosted mobile banking and payment solutions to its banking and credit union clients using mFoundry’s Spotlight Financial Platform.

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Credit Card Alternatives Beyond the Tipping Point?

In an article titled 'E-Commerce Credit Card Alternatives Soaring In Popularity', Evan Schuman writes that "some of the largest E-Commerce chains have suddenly started to embrace non-traditional payment methods, with one analyst firm finding a startling 267 percent increase in such acceptance in February, when compared with the identical survey done in mid-October."

Meanwhile, HitWise looks at the growth in traffic associated with Bill Me Later. HitWise reports that Bill Me Later's traffic is up 271% from last year while PayPal's traffic is down 1% and Google Checkout is down 34%

Aite Looks at Core Processors

Aite Group has announced a new report titled "Core Processors: Will Integration Pay?" that it says "examines the key drivers of high performance in the core processing vendor space, and the impact of tightly integrated sales strategies and product offerings."

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PayPal Adds Four Industry Veterans to Executive Team

PayPal has announced that it has hired four top industry veterans "to help drive the company’s continued global growth. The four new members of PayPal’s executive leadership team are Jack Stephenson, senior vice president of strategy and new ventures; Mary Anne Gillespie, vice president of sales; Barry Herstein, chief marketing officer; and Robert Mansell, vice president of product development."

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NACHA Announces Mobile Banking Initiative

NACHA has announced that it has formed a Mobile Banking Work Group to develop an ACH payment platform strategy for mobile banking. The group’s participants will include representatives from across the industry recruited from NACHA’s councils.

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Euronet Offers to Acquire Moneygram

Euronet Worldwide has announced that it delivered a letter to the Board of Directors of MoneyGram International on December 4, 2007, in which Euronet offered to acquire MoneyGram in a tax-free, all-stock transaction.

FTC, Seven States Sue Payment Processor

The Federal Trade Commission and seven state attorneys general have charged a payment processor with violating federal and state laws by debiting, or attempting to debit from consumers’ bank accounts on behalf of numerous fraudulent telemarketers and Internet-based merchants.

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