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« October 21, 2007 - October 27, 2007 | Main | November 4, 2007 - November 10, 2007 »

November 02, 2007

Updated Prepaid Market Forecasts 2007 to 2010

Mercator Advisory Group has published a new report titled "Prepaid Market Forecasts 2007 to 2010" that provides "a forecast of growth for all 33 Prepaid Market Segments" including the load volumes and cards issued.


Comdata SVS, Qualcomm Enable Mobile Services for Gift Cards

Comdata Stored Value Solutions has announced a strategic alliance with Qualcomm to deliver services that make managing gift cards as easy as using cell phones. The two companies said they will provide the a service that will allow gift card holders to check and store their gift card balance information using SMS from mobile phones, rather than going to the retail store, going online or calling a voice response system. In addition, the retailer issuer of the gift card will have an opportunity to position a “call to action” message along with the gift card balance to shoppers who have opted in to receive such messages.


Barclaycard Business Launches Carbon-Offset Corporate Card

Barclaycard Business in the UK has announced the launch of Barclaycard Business Sustain, a carbon-offset corporate charge card that will enable customers to offset carbon emissions associated with air travel.


Fiserv Sells Health Businesses to UnitedHealthcare

In a move designed to enable the company to be "completely focused on expanding its technology leadership position across the financial services landscape," Fiserv has announced a definitive agreement to sell substantially all of its Health businesses to UnitedHealthcare for $775 million in cash.


Money Services Businesses Support New Federal Legislation

The MSB Coalition, representing money services businesses (MSBs) from across the country, says it "applauds the introduction of federal legislation to address, once and for all, the ongoing problem of bank discontinuance. This is the unwarranted, blanket termination of MSB bank accounts by traditional financial institutions in response to misguided regulatory pressure. Without such access, MSBs cannot conduct business."


Getting to Know Identity Thieves

In an article titled 'Getting to Know Identity Thieves', Washington Post personal finance columnist Michelle Singletary writes about the recent review of actual identity theft cases conducted by the Center for Identity Management and Information Protection. "What I learned from this report was this: You can't trust any business or anybody, even family members."

Metavante Begins Trading on New York Stock Exchange

Metavante Technologies, Inc. has announced that it has completed its spin-off from Marshall & Ilsley Corporation. "Shares of common stock for Metavante Technologies, Inc. will begin trading today on the New York Stock Exchange (NYSE) under the symbol MV. Metavante Corporation is the principal operating subsidiary of
Metavante Technologies, Inc."


Who's News - Payments Professionals Management Changes

We have received news of the following recent management changes:

  • Capital One has named Michael W. Azevedo as the senior executive responsible for all bank operations across the company’s banking footprint. A 27-year veteran of Wells Fargo Bank, Azevedo will oversee national operations and phone based banking of Capital One's banking activities. Azevedo will report to Lynn Pike, President of Capital One's Banking business.
Announce yourself! Have you recently taken on a new position in the payments industry? If you'd like to share the news with your colleagues, be sure to tell us about it. Are you looking for a new payments-related job? Or are you needing to find someone great? Checkout the Payments Jobs job board.

Headline News - November 2, 2007

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

November 01, 2007

An Update on eB2B Payments from Glenbrook

Glenbrook's Carol Coye Benson recently returned from the Association of Financial Professionals Conference in Boston - where she explored the relative progress being made in the migration of business to business (B2B) payments from paper checks to electronic payments. She shares her insights in "eB2B at the Tipping Point?" - now available over on the Glenbrook web site.

FastCompany Looks at's Flexible Payments Service

In an article titled 'Amazon’s Latest Coup: Thinking Small', Chris Dannen writes for FastCompany about's recently introduced Flexible Payments Service offering.

BMO Adds PayPass 'Tap & Go' to Mosaik MasterCards

BMO Bank of Montreal has announced it is adding MasterCard PayPass to its Mosaik MasterCard cards. BMO says it is "the first credit card issuer among the big six banks in Canada to integrate "Tap & Go" technology into a credit card..."


ShopNBC Now Accepts PayPal

ValueVision Media, operator of ShopNBC, has announced that has added PayPal as a new payment method for its customers.


Metavante Completes Separation from M&I

Marshall & Ilsley Corporation and Metavante Technologies, Inc. have announced that they have completed the separation of Marshall & Ilsley Corporation and Metavante Corporation. As a result of the transaction, Marshall & Ilsley Corporation has separated into two independent publicly-traded companies: new Marshall & Ilsley Corporation and Metavante Technologies, Inc.

RBC, Visa Canada Launch NFC-based Mobile Payments Pilot

RBC and Visa Canada have announced they are teaming up to be "the first in Canada to pilot a mobile payment service that uses cellphones rather than traditional credit cards for making Visa purchases. This Ontario-based pilot is expected to be completed in 2008, and involve multiple phases including in-lab testing, an RBC staff pilot and a consumer trial." A video is available.


IBM Announces End-to-End Solution for PCI Compliance

IBM has announced "a new program that provides products and services to help customers achieve compliance with the Payment Card Industry Data Security Standard (PCI DSS). Unlike competitive offerings, the comprehensive program is designed to take companies through the entire PCI compliance process, from assessment to compliance to certification, helping them meet all 12 PCI requirements for safeguarding customer payment card data."


Purepay Acquires Remittance Solutions Provider Netvantage

Purepay, a $100 million buyout fund focused on payments, banking and the financial supply chain, has announced that it has acquired a controlling interest in Netvantage, a remittance processing software provider focused in the middle market commercial customer.


AirTran Airways Now Accepts PayPal

PayPal continues to expand its acceptance in the airline segment with today's announcement by AirTran Airways that it has teamed up with PayPal "to provide secure, private transactions for customers booking travel via"


Gift Cards Top Holiday Survey of Retail Spending and Trends

Deloitte has announced the results of its 22nd Annual Holiday Survey of retail spending and trends - saying that "while many Americans say they intend to spend less during this year's holiday season, spending on gifts is expected to hold steady and the number of gifts consumers plan to give is up compared with 2006. For the fourth straight year, gift cards are expected to be the top gift purchase, with more than two-thirds (69 percent) of consumers surveyed planning to buy them, compared with 66 percent last year. In addition, holiday shoppers are planning to buy even more cards this year: an average of 5.5 cards, compared with the 4.6 cards they planned to buy last year.


Kyocera Wireless, INSIDE Contactless Join Forces on NFC Integration

Kyocera Wireless and INSIDE Contactless have announced "a global collaboration to integrate INSIDE Contactless’ cutting-edge NFC solution for mobile payments in select prototype Kyocera mobile phones."


Highmark Launches Healthcare Visa Gift Card

Highmark has launched the Healthcare Visa Gift Card - saying "the card provides an easy way for consumers and recipients to cover out-of-pocket expenses related to maintaining personal health and wellness."


Who's News - Payments Professionals Management Changes

We have received news of the following recent management changes:

  • Scott H. Betts has been named President, Chief Executive Officer, and interim Chief Financial Officer at Global Cash Access.
Announce yourself! Have you recently taken on a new position in the payments industry? If you'd like to share the news with your colleagues, be sure to tell us about it. Are you looking for a new payments-related job? Or are you needing to find someone great? Checkout the Payments Jobs job board.

October 31, 2007

PayPal's 2007 Holiday Survey

This holiday shopping season, gift cards are hot, but shopping for your spouse is not - according to PayPal's 2007 Holiday Survey conducted in October by Nielsen Customized Research.


MasterCard Reports 3Q07 Financial Results

MasterCard Incorporated has announced financial results for third-quarter 2007, reporting net revenues of $1.08 billion, a 20.1% increase versus the same period in 2006 and net income of $314 million including after-tax gains of $70 million from the partial sale of the company's investment in Redecard S.A. in Brazil. A MasterCard presentation on the results is available online.


Mobile Wallets in the US Market

In an article titled 'Mobile Wallet Will Take Time to Mature In U.S.', RIchard Winston from Accenture writes for Bank Systems & Technology magazine about the challenges in bringing mobile payments to the US market. Winston says "the technology will take time to mature, requiring banks, credit card issuers, cellular carriers and merchants to either cooperate or be forced to act by disruptive competitors entering the market."

Separately, David Evans asks whether Google will be the catalyst for the mobile ecosystem in the US. He says "however, Google faces the same difficulty that other developers have faced–which is interacting with the mobile carriers who understandably want to get paid for their vast investments in mobile capacity." Evans spoke at last week's CTIA conference in San Francisco.

A Look at Wells Fargo's Mobile Banking

In a post titled "Wells Fargo: Hitching its Reins to Mobile Banking", Brandon McGee writes for the Mobile Money & Banking blog about Wells Fargo's rollout of mobile banking services. McGee writes: "what captured my attention is that Wells Fargo seems to have strategically positioned themselves as the leader in mobile banking."

October 30, 2007

A Look at Decoupled Debit

Mercator Advisory Group has announced a new report titled "Decoupled Debit - Let's Take a Closer Look" that the company says "evaluates the recent emergence of this new and possibly disruptive technology in the financial services industry, decoupled debit. Decoupled debit is an alternative based ACH debit card solution that utilizes two existing systems that are well defined in the financial services industry but were not designed to work in combination with each other, the ACH network and the branded payment networks such as MasterCard, Visa, NYCE, etc."


Holiday Gift Cards Are More Popular Than Ever

Comdata Stored Value Solutions has announced the results of its fifth annual survey of gift card purchases icon_PDF_small.gif showing that "the availability of gift card malls and expanded uses for gift cards are making them even more popular and versatile."



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