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« April 1, 2007 - April 7, 2007 | Main | April 15, 2007 - April 21, 2007 »

April 13, 2007

Google Launches Google Checkout in the UK

The BBC reports that Google has launched its payment service, Google Checkout, in the UK. More information about the UK launch is available on the Google Checkout blog and on the Google Checkout UK site.

Visa USA To Update Interchange Rates

Visa USA has announced that it will be updating its published interchange rates on its website effective April 14, 2007 "to reflect the Visa rates and rate structure in the U.S. marketplace." Visa USA said it expects its system-wide effective interchange rate to be 1.77 percent.

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Mobile Money & Payments

Online Banking Report has just published a new report titled "Mobile Money & Payments".

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Headline News - April 13, 2007

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers looking to hire payments professionals can post their job openings there as well.

April 12, 2007

Securing Your Mobile Wallets

Elena Malykhina blogs for Information Week about what banks and their partners are doing to secure mobile banking services.

Online Bill Payment Usage Surpasses Checks

A new survey sponsored by CheckFree and conducted by Harris Interactive and the Marketing Workshop concludes that, for the first time, consumers in Internet-connected households are paying more of their bills online than by paper check. "Online payments made up 39 percent of the total volume of bill payments among online households, an increase of 4 percent over the previous December 2005 survey. In contrast, the volume of checks sent through the mail fell 4 percent to 34 percent of the overall volume."

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Upcoming Glenbrook Conference Participation

Glenbrook's Jay DeWitt will be speaking at two conferences over the next couple of months. First is a workshop titled "Mastering E-Payments and Web Security" being held on June 4th prior to the Internet Retailer 2007 Conference in San Jose, California. Jay's on of three instructors for the session "Beyond Credit Cards: E-Checks, PayPal, Google Checkout & Much More".

Next up, Jay will be presenting on "RFP Best Practices" at the Direct Response Forum on Monday afternoon, August 6, 2007, in Seattle, Washington. At this session, you'll learn how merchants can produce an effective RFP and learn from industry experts on the do's and don'ts in order to maximize the best results.

Shift in Payment Methods Predicted

Financial Insights has announced the results of a consumer survey of over 1,000 U.S. adults revealing their usage of a variety of new and emerging payment methods - finding a downward shift in the use of closed-loop (single merchant) gift cards, a shift to open-loop (multi merchant) gift cards, the rapid adoption of online payment security systems, and the decline in the influence of rewards programs in card usage outside of a niche demographic.

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A Look At Fingerprint Biometrics

Ann Keeton reports for the Wall St. Journal about the expanding use of fingerprint biometrics. She reports that about "10% of new laptops sold in the U.S. come equipped with tiny, inexpensive fingerprint censors, eliminating the need for people to remember passwords."

Debit Card Fraud on the Rise in Canada

Gillian Shaw writes for the Vancouver Sun about the increase in debit card fraud in Canada - saying it has "more that doubled during the past three years, reaching close to $100 million in 2006."

April 11, 2007

ABI Research Scales Back NFC Adoption Forecast

In its latest analysis of the Near Field Communication market titled "Near Field Communications (NFC): Leveraging Contactless for Mobile Payments, Content and Access", ABI Research forecasts that by 2012, some 292 million handsets – just over 20 percent of the global mobile handset market – will ship with built in NFC capabilities. ABI says that "2007 will be critical for NFC technology as key standards and operator trials complete the foundations for the first real deployments." Last September, ABI - in a reduced forecast made at that time - forecast that by 2011 some 450 million NFC-equipped handsets would be shipped that year representing about 30% of the total shipments that year.

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Data Breaches and Consumer Buyer Behavior

Javelin Strategy & Research has published a new report on data breaches - examining consumer attitudes and the TJX security issue. The study concludes that "77% of consumers intend to stop shopping at merchants that suffer from data breaches. Retailers and merchants are viewed by 63% of consumers as the least secure when protecting consumer’s data, compared with processors (16%), card networks like Visa or MasterCard (5%) and issuers (5%). When little is known about a data breach, half of all consumers automatically consider the merchants where they shop to be at fault. However, 85% will reward merchants who are perceived as security leaders with increased purchases."

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Smart Cards and Healthcare

Mercator Advisory Group has published a new report titled "Smart Cards and Healthcare: An Opportunity For Payments".

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MasterCard Launches New Experiential Programs For Premium Cardholders

MasterCard Worldwide has announced MasterCard Unique Experiences, a new program designed to offer a unique set of benefits to its U.S. World MasterCard and World Elite MasterCard cardholders. "The program, which is exclusive to World and World Elite MasterCard cardholders in the U.S., provides access to fine dining, plush spas, high-end shopping, live performing arts events, golfing, and other unique experiences. MasterCard is committed to developing innovative products and programs that appeal to the affluent segment, and empower them to live life to the fullest."

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April 10, 2007

Fifth Third Bank, RMS Offer Electronic Data Option to Healthcare Industry

Fifth Third Bank's Treasury Management division has announced a strategic relationship with Revenue Management Solutions (RMS), a medical payment and remittance system provider.

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NetDeposit Enables Banks To Offer Back Office Check Conversion

NetDeposit has announced a new offering designed to provide financial institutions with the ability to support their commercial customers in electronically processing checks under the new Back Office Conversion (BOC) rules. NetDeposit's support of BOC provides financial institutions the tools and technology necessary for them to quickly take advantage of BOC and extend the advantages of remote deposit capture (RDC) throughout their retail and commercial markets.

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MasterCard Announces Board Decisions

MasterCard has announced that its Board of Directors approved an amendment to its certificate of incorporation designed to facilitate an accelerated, orderly conversion of Class B common stock into Class A common stock for subsequent sale. In a related decision, the Board approved two additional items for 2007: the conversion of up to 13.4 million shares of Class B common stock into Class A common stock, and the repurchase of up to $500 million of Class A common stock in open market transactions, each of which is subject to stockholder approval of the amendment to the certificate of incorporation at the Company's June 7, 2007 annual meeting of stockholders.

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MasterCard Files Preliminary Proxy Statement

In conjunction with its upcoming annual meeting to be held Thursday, June 7, 2007, MasterCard has filed a preliminary proxy statement with the SEC that includes discussions regarding the election of directors, executive compensation matters, and a proposed change in the company's certificate of incorporation to allow, under certain circumstances, an earlier conversion and sale (prior to May 31, 2010) of stock by Class B (bank) shareholders.

Coca-Cola United to Convert Vending Machines to Cashless Card Payments

MasterCard Worldwide and USA Technologies have announced that Coca-Cola Bottling Company United Inc., the third largest bottler in America, is installing cashless payment technology in vending machines.

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April 09, 2007

SVPCO Image Payments Network Reports Strong Volume Growth in March

SVPCO has announced that the total number of check images and the dollar value hit an all-time high in March reaching a total of 177.4 million in total monthly items, a 507% increase compared to a year ago. March's volumes totaled $333.8 billion in total monthly dollar value from an average of 8 million daily items.

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Headline News - April 9, 2007

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers looking to hire payments professionals can post their job openings there as well.

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