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February 03, 2007

Glenbrook Payments Boot Camps Update

Glenbrook's first Payments Boot Camp of 2007 scheduled for next week in Santa Clara, California is sold out. The next Payments Boot Camp is scheduled for Atlanta, Georgia on March 13 and 14. Carol Coye Benson and Scott Loftesness will be teaching that session. Registration for the Atlanta session is available online.

A new Merchants Payments Boot Camp, specifically tailored for retailers, ecommerce merchants, etc. is being held March 21 and 22 in the San Francisco Bay Area. Allen Weinberg, Russ Jones and Jay DeWitt will be teaching the Merchants Payments Boot Camp - see the complete agenda here (PDF). Registration is available online.

For questions about Glenbrook's Boot Camps, please contact us at bootcamp@glenbrook.com.

Remote Deposit Capture - From Novelty to Near-Necessity

Glen Fest writes for Bank Technology News about how remote deposit capture has taken off, growing from novelty a year or two ago to essentially a necessity for banks to offer today. Fest says that "like the ATM technology launch of the 1970s, bank pros are experiencing growing pains as well as surprise benefits in the transformative technology, as they cobble together a roadmap for best practices and standardization."

TJX Data Breach Update

Larry Greenemeier reports for InformationWeek on the recent TJX data breach - saying that fall out from the incident intensified last week.

February 02, 2007

Some Advice For Bankers Re: Wesabe

Saying that "bank marketers that ignore Wesabe are missing the bigger picture," Ron Shevlin writes on his Marketing ROI blog about how Wesabe's focus is right - on benefiting the customer by validating their financial decisions.

Bank of America Expands Hybrid Vehicle Program Nationally

Bank of America has announced that it is expanding its program to reimburse $3,000 to associates
purchasing a new hybrid vehicle. The program will now be available to more than 185,000 U.S.-based associates.

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Big Question: Do Financial Institutions Meet Customer Needs?

Forrester's Bruce Temkin has published a new report asking whether financial institutions meet customer needs. From the abstract: "When it comes to meeting customer needs, banks once again top the list; seven out of ten consumers feel that banks meet their current needs. At the other end of the spectrum, only about half of consumers think that their credit card providers meet their needs."

Visa Canada Commissions Chip and PIN Justification For Retailers

Chip & PIN Migration: A Canadian Retailer's Perspective, an independent study by the J.C. Williams Group commissioned by Visa Canada, has been released - showing "long-term benefits for retailers who implement upgraded technology that allows them to accept more secure payment cards." The study claims that retailers will be able to recoup their investment in new chip-capable POS equipment in less than three years.

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ING Direct Loses Share

Jim Bruene reports on his Financial Marketing Weekly blog about ING Direct's latest results - showing a decline of about $600 million in deposits (about one percent) and 150,000 accounts (about four percent) in the third quarter of 2006. Bruene notes that ING Direct has not kept pace with new competitors on the interest rate it's been offering, apparently deliberately slowing its growth.

Data Privacy Bill Expected to Target Retailers, Banks

Brian Krebs reports for the Washington Post on plans by the US House Financial Services Committee Chairman Barney Frank (D-Mass.) for new legislation that, among other things, would hold retailers accountable for data breaches involving customer information.

An Update On NTT DoCoMo's Mobile Payments

Nathan Parmelee writes for the Motley Fool about NTT DoCoMo's latest financial results - commenting about "the company's osaifu-keitai (portable wallet) functionality, which allows a mobile phone to function as a cash card (stored money), credit card, train pass, plane ticket, or other item. Starting from next to nothing a year ago, 20 million subscribers now have phones with this functionality, and 1.5 million have applied for and activated the credit card functionality."

Super Bowl Weekend Spending

Visa USA says that American consumers are likely to stock up on much more than just food, beverages and electronics this Super Bowl weekend (Friday, Saturday and Sunday) - according to historical Visa data, jewelry and floral retailers also are likely to experience large increases in consumer spending.

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An Update On Alibaba In China

AuctionBytes' Ina Steiner updates information on Alibaba's volumes in China for 2006: over 33 million registered Alipay users with daily payment volume reaching US$ 12.8 million.

UK Card Spending Update

APACS has issued December 2006 spending figures for the UK showing that spending on plastic over the Christmas period reached a record £31 billion. There were 669 million plastic card transactions in December 2006, six per cent more than during December 2005, equating to a record 250 transactions per second - day and night - through the month. Spending on plastic cards accounted for 63 per cent of total retail sales.

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Bank of America Launches New Franchise Banking Focus

Bank of America has announced the launch of Franchise Banking, a "new program designed to support the business growth goals of franchise owners with revenues below $20 million. Building upon the Bank's market leadership with large-scale, restaurant franchise operators, Franchise Banking will serve a wide range of national brand franchise concept owner/operators in the food service and other industry sectors."

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February 01, 2007

HSBC Launches Mobile Phone Contactless Payments Pilot

HSBC Credit Card Services has announced it has launched a mobile phone payments pilot based on Near Field Communications technology in partnership with MasterCard and ViVOtech.

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Javelin Study Concludes Identity Fraud Declining In US

Javelin Strategy & Research has released its 2007 Identity Fraud Survey Report, saying it provides "compelling new information about the reduction of identity fraud across the United States, while also identifying important risk differentiators between age and income demographics." According to the report, identity fraud has declined by about 12 percent over the previous year - that translates into a total fraud reduction of $6.4 billion according to Javelin. The survey is co-sponsored by CheckFree, Visa and Wells Fargo & Company.

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Diversinet Introduces MobiSecure Mobile Wallet, Server-side Vault

Diversinet has announced its MobiSecure Wallet and Vault, designed to "give banks and other financial institutions, insurance companies, and health care providers a unique and easy-to-use solution they can use to provide individuals with fast, convenient and secure access to new applications and services via mobile phone, PDA or PC browser."

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A Look At Medical Banking

Medical banking sounds like a bit of an oxymoron - but it's being using by the Medical Banking Project to describe "the convergence of banking and healthcare to dramatically reduce healthcare costs." The Project has announced its 5th National Medical Banking Institute to be held March 5-7, 2007 in Marietta, GA.

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Updates On Google Checkout

Google announced quarterly financial results yesterday and included in its conference call discussing the results were some interesting comments about Google Checkout - including the news that more than 20% of the Web's top 500 retailers have signed up for Google Checkout.

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January 31, 2007

US Merchants Welcome EU Report, Pressures On Interchange

The Merchants Payments Coalition issued a press release today welcoming today's release of a European Union (EU) policy report that calls for closer scrutiny of competition in the European retail banking sector.

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Comptroller of the Currency Speaks Out Re: ILCs

Comptroller of the Currency John C. Dugan voted today for a one-year moratorium on applications for deposit insurance by industrial loan companies with commercial affiliations, saying that Congress should have an opportunity to consider the issue.

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FDIC Extends Moratorium on Industrial Loan Company (ILC) Applications

The FDIC Board of Directors voted today to continue for one year a moratorium on applications for deposit insurance and change in control notices for industrial loan companies (ILCs) that will be owned by commercial companies. The moratorium does not apply to ILCs owned by financial companies. In addition, the Board voted to issue for public comment a proposed rule (Part 354) to strengthen the framework for consideration of applications or notices for industrial banks owned by financial companies not subject to federal consolidated bank supervision.

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EverBank Asks Consumers - What Are You Waiting For?

Jacksonville, FL-based EverBank launched a new marketing campaign today promoting its FreeNet checking account. The bank said "with rumblings of a new online check-less checking account set to launch by Internationale Nederlanden Groep (ING) DIRECT within the next few weeks, Jacksonville, Fla.-based banking leader EverBank today launched a new campaign which poses a five-word question to financial consumers - "What are you waiting for?" The account offers an introductory yield of 6.01% for the first three months, calling it the "highest yield for checking in the industry" according to Frank Trotter, president of EverBank Direct.

Payment China 2007 Conference

The Global Leaders Institute will be holding Payment China 2007 on May 17-18 in Beijing.

Elegy For Cash

In an article in CSO Magazine, Scott Berinato writes an "Elegy for Cash" - saying that "an inconvenient truth for card issuers and merchants is that cash is a lot safer for consumers."

A Look At the Arriva Card

Global Cash Access has provided more information about its Arriva Card, the first credit card designed for use in casinos.

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ING Direct - CEO Video

In a new video, the President and CEO of ING DIRECT, Arkadi Kuhlmann, has taken it upon himself to explain his outlook on saving money, how financial transactions should be as simple as buying a cup of coffee, and how ING DIRECT works to make that a reality.

Bank of America Introduces New Online Money Management Tools

Bank of America has announced that its Online Banking customers now have access to a "full range of money management tools that help them track expenses and income by category, set budget goals and monitor performance against goal for all of their financial accounts."

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