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« September 23, 2007 - September 29, 2007 | Main | October 7, 2007 - October 13, 2007 »

October 06, 2007

Does Your Store Guard Your Payment Card Data?

In an article titled 'Making Sure Your Stores Guard the Data', Robin Sidel writes for the Wall St. Journal about the Payment Card Industry - Data Security Standard and how consumers might be able to assess a merchant's participation in securing their payment card data.

TrialPay Partners With Skype for Free Calling

TrialPay has partnered with Skype to enable Skype users to be able to make free SkypeOut or international calls when the user tries or buys from TrialPay's network of partners.

October 05, 2007

PayPal Labs

PayPal Labs, a new showcase site for some of PayPal's new experimental products, has launched at www.x.com. The first two products featured are PayPal's Facebook application to request money and a new fundraising tool for non-profits launched on MySpace.

Common Sense and Credit Cards

The New York Times this morning has an editorial titled "Common Sense and Credit Cards" that begins: "After years of looking the other way, Congress seems finally poised to rein in the predatory practices that have become all too common in the credit card business."

Headline News - October 5, 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.

October 04, 2007

Obopay, Yodlee Partner for Instant Bank Account Verification

Obopay has announced it has partnered with Yodlee to facilitate instant bank account verification, letting Obopay customers immediately link their existing bank account to Obopay.

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New MasterCard Payment Gateway

MasterCard has announced the MasterCard Payment Gateway - calling it "a flexible enterprise-wide payment processing platform for routing commercial payments between buyers, suppliers and their financial institutions." According to MasterCard, the gateway "gives companies a streamlined total payables solution designed to increase productivity and profits with enhanced security, while simplifying the entire payments process."

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New Insights into Consumer Payment Tendencies at the Point of Sale

First Data’s STAR Network has announced highlights from its 2006/2007 Consumer Payments Usage and Segmentation Study that "includes a segmentation analysis of specific market groups based on their payment tendencies at the point of sale. The six segments found in the research include the signature debit, PIN debit, cash/PIN debit, cash, check and credit card segments. The segments — determined by an analysis of payment behavior, demographics, attitudinal characteristics, payment preference and value-based characteristics — provide a new way to look at the point of sale payments landscape."

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NYCE to Provide Mobile Banking and Payments Services

NYCE Payments Network has announced it will offer mobile banking and payments services to financial institutions — calling it "the first commercially available service from a U.S. debit card payments network." Monitise Americas and NYCE's parent, Metavante, have signed an agreement through which NYCE will deliver the Monitise Americas platform directly over its existing network architecture.

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Experian to Offer Credit Report File Freeze to Consumers Nationwide

Experian has announced that it will offer "the option to freeze credit reports to consumers nationwide. Beginning Nov. 1, Experian will allow any consumer across all 50 states, the District of Columbia and U.S. Territories to place a freeze on their credit report. A credit file freeze prevents new creditors from accessing the credit file without the consumer's consent."

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Contactless NFC Mobile Payments Trial in Taiwan

Gemalto has announced a partnership with Taiwan’s Far EasTone Telecommunications Ltd. to implement "Asia’s first mobile contactless SIM-based NFC (Near Field Communications) trial. The trial, which will start in November and be rolled out in phases, is part of the GSM Association’s 'Pay-Buy Mobile' initiative which seeks to define a common global approach to using NFC technology to link mobile devices with payment and contactless systems."

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Rethinking the Assumptions Behind PCI-DSS

Evan Schuman writes on his Storefront Backtalk blog about efforts by the National Retail Federation's CIO David Hogan to rethink the assumptions behind the Payment Card Industry - Data Security Standard. According to Hogan, "the bottom line is that it makes more sense for credit card companies to protect their data from thieves by keeping it in a relatively few secure locations than to expect millions of merchants scattered across the nation to lock up their data for them." More details about the NRF's recommendations are on the NRF web site including a letter from Hogan to the PCI Standards Council.

Yahoo!, eBay, PayPal Protect Consumers Against E-mail Fraud

Yahoo!, eBay and PayPal have announced a collaborative effort to better protect consumers against fraudulent e-mails and the dangerous scams known as phishing attacks. Starting today, eBay and PayPal customers worldwide using Yahoo! Mail will have a safer e-mail experience – they will begin receiving fewer fake e-mails claiming to be sent by eBay and PayPal. Yahoo! Mail is the first Web mail service to block these types of malicious messages for eBay and PayPal through the use of DomainKeys e-mail authentication technology. More commentary on this news by PayPal's CISO, Michael Barrett, over on the PayPal Blog.

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Guardian Analytics Secures $4.5 Million in Series B Funding

Guardian Analytics, a fraud prevention solution provider for protecting online channels, has announced the completion of $4.5 million in Series B financing from Foundation Capital of Menlo Park, Calif. "The company will use the Series B funding to launch the company and its fraud prevention solution into the market and quickly expand product development, marketing and sales efforts."

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Threat of UK Postal Strike Leads to Online Bill Payment

APACS is advising consumers in the UK "to be mindful of the postal strikes over the next week as important post could be delayed that could have a knock on affect on finances."

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October 03, 2007

Amazon Payments Now Powers TextPayMe Mobile Payments

TextPayMe has a new website accessed via an Amazon.com subdomain URL that says its now "Powered by Amazon Payments". TextPayMe, still in beta, was one of the first person to person mobile payment companies to launch when it was initially introduced in December 2005.

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Where Is the Missing Credit Card Debt?

The Payment Cards Center of the Federal Reserve Bank of Philadelphia has published a new Discussion Paper titled "Where Is the Missing Credit Card Debt? - Clues and Implications" icon_PDF_small.gif by Jonathan Zinman, an assistant professor of economics at Dartmouth College and a visiting scholar with the Payment Cards Center.

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Visa Inc. Completes Global Restructuring

Visa Inc. has announced "the completion of its restructuring, having received broad member approval for the series of transactions by which Visa Canada, Visa U.S.A. and Visa International have become subsidiaries of Visa Inc. Visa Europe will remain a membership association and will become a licensee of, and own a minority interest in, Visa Inc."

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Mobile Payment Forum - Mobile Marketing Task Force

The Mobile Payment Forum has created a Mobile Marketing Task Force focused on stimulating consumer awareness and demand for mobile payment solutions, and to assist prospective m-commerce service providers and their partners.

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First Annapolis Navigator - September 2007 Edition

The September issue of the First Annapolis Navigator is now available. This month's feature article is "The Addressable Market in U.S. Acquiring." Other articles include: "Internet Payments Acceptance Update", "Expense Diversity Among U.S. Acquirers", "Products & Services Dynamics", "Payments Revenues Continue Robust Growth" and "The Private Equity Effect".

Mobile Payments in Japan, South Korea, and the United States

The Payments System Research group of the Federal Reserve Bank of Kansas City has published a research briefing titled "Mobile Payments in Japan, South Korea, and the United States" icon_PDF_small.gif by Terri Bradford and Fumiko Hayashi.

Billeo Announces Alliance with ICBA

Billeo has announced a strategic relationship with the Independent Community Bankers of America (ICBA), the largest association for community banks in the U.S.

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APACS Updates UK Card Fraud Losses

APACS reported today that total card fraud losses on UK issued cards "increased by 26 per cent in the six months to June 2007 compared with the first half of 2006. This increase has been driven by a 126 per cent rise in fraud on UK-issued cards being used overseas. In contrast, domestic card fraud continues to fall thanks to chip and PIN, with losses at UK retailers down 11 per cent (see notes to editors and losses at UK cash machines down 57 per cent."

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October 02, 2007

Glenbrook's Take on Finovate 1.0

Glenbrook's Bryan Derman filed the following report tonight from today's Finovate 1.0 Conference in New York City.

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PULSE Rolls Out DebitProtect Fraud Detection System

PULSE EFT Association, a Discover Financial Services company, has announced that it is implementing DebitProtect, a fraud detection and notification system, across its ATM/debit network.

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eBillMe Adds Buyer Protection Plan

MODASolutions eBillMe, an alternative payment option that allows consumers to pay merchants directly through their online bank account, has introduced a new Buyer Protection Plan.

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Postilion Launches Postilion Mobile

Postilion has announced the launch of Postilion Mobile, a new mobile banking and payments solution for banks and credit unions in the U.S.

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Live Blogging From Finovate

Over on the NetBanker blog, William Azaroff is live blogging today's Finovate conference in New York City. Glenbrook's Bryan Derman is attending today's session - if you're there, be sure to look up Bryan and say hello!

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