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March 03, 2008

NetSpend, Procesa International Sign Cross-Border Agreement

NetSpend has announced it has entered into an agreement with Procesa International to offer NetSpend customers the ability to pay bills or load minutes to cell phones for friends or family members living in Mexico, Central or South America.

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GAO Releases Paper on Bank Fees

As covered by the Washington Post on Saturday, the Government Accountability Office has released a new report titled "Bank Fees - Federal Banking Regulators Could Ensure That Consumers Have Required Disclosure Documents Prior to Opening Checking or Savings Accounts" icon_PDF_small.gif . The study had been requested by Rep. Carolyn B. Maloney, Chairwoman of the Subcommittee on Financial Institutions and Consumer Credit in the US House of Representatives.

MasterCard Files Appeal of European Commission Decision

MasterCard Europe has announced it has "applied to the European Court of First Instance to annul the European Commission's decision on MasterCard Europe's cross-border interchange fees, and said it believes it has strong grounds for its request. The December 19, 2007 decision requires the company, among other things, to repeal its intra- EEA fallback interchange fees by June 21st."

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China's 99Bill Upgrades Mobile Payment Services

99Bill Corporation has upgraded its mobile payment service to enable mobile users in China to conduct transactions over mobile phones. According to the company, "the upgraded service is set to make the adoption of the mobile payment easier for both the end consumers as well as for the merchants."

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Headline News - March 3, 2008

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.

Payments Professionals Management Changes

We have received news of the following recent management changes:

  • Scott A. Young has been named General Manager, Partnerships, for Barclaycard US. Young joins Barclaycard US from GE Consumer Finance were he most recently served as president and chief executive officer of its Personal Finance business.
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