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April 30, 2008

More About Other Payments and Banking Blogs

The list of other payments and banking-related blogs we started last week has just about doubled in size over the last couple of days! We've now got over 25 blogs listed - along with widgets displaying the latest RSS feeds from each blog. You can quickly scan the page for stories that might be of interest and then click through to read the full text of each story. Clicking on the blog's name takes you to that blog's home page. Hope you find this useful and that it's helpful introducing you to some new sources of payments insights!

Your Server in Your Pocket?

James Gardner blogs on Bankervision about what he heard at a conference yesterday - 'the mobile phone will become a personal server in the immediate future.'

Identity Theft Prevention Programs - Do You Have One?

Anita Boomstein, an attorney with Hughes Hubbard & Reed, has published a paper titled 'Identity Theft Prevention Programs: Will Your Company Need to Have One?' icon_PDF_small.gif. Her paper reminds companies of their obligations under the Fair and Accurate Credit Transactions Act (FACTA) to take steps to 'prevent, detect and mitigate the occurences of identity theft.' Compliance becomes mandatory on November 1, 2008.

First Data's Unified Network Payment Solutions Certified for Chip

Unified Network Payment Solutions® (UNPS), a subsidiary of First Data Corp., has announced that it has been certified by MasterCard and Visa to provide chip technology solutions to Canadian merchants. With this certification, UNPS merchants will be able to accept chip cards at the point of sale. READ MORE »

A Look at's Approach to Personal Financial Management

In an article titled 'Tracking Your Money Without Paying a Mint', Katherine Boehret writes for the Wall Street Journal about, one of the companies presenting at yesterday's Finovate Startup conference in San Francisco. She says 'Mint was created for 20-somethings like me who want to pay more attention to their finances but aren't interested in taking hours each week to do so. This Web site worked ideally for me, and its clean interface integrates Web 2.0 features in a way that makes it a pleasure to use.'

Fraud Management Strategies of U.S. Financial Institutions

Aite Group has published a new report titled 'Fraud Management Strategies of U.S. Financial Institutions: The Drive Toward Enterprise-Wide'. A new report from Aite Group, LLC examines the fraud management strategy of U.S. financial institutions today, and how it is expected to evolve over the next three years. Based on Aite Group's survey of 13 U.S. banks and credit unions conducted between January and March 2008, the report provides a measurement of fraud components and evaluates fraud management system requirements. READ MORE »

Retailers Shopping for Lower Interchange Fees

Lisa Lerer writes for writes about merchant frustrations with increasing payment card interchange fees - and legislation introduced in the US Congress to try to deal with interchange fees. She writes: 'The fight is over interchange fees, a relatively obscure business-to-business charge brought into the spotlight by a two-year lobbying campaign. And it’s an issue the retailers hope will dovetail with renewed congressional scrutiny of other credit card practices involving hidden charges and excessive fees.'

On the flip side, Jeff Jacoby writes an op-ed piece for the Boston Globe titled 'Leave the Plastic Alone' advocating that no legislation is required to manage interchange fees.

Payments Professionals Management Changes

We have received news of the following recent management changes:
  • Gregory Holmes has been named President, US at Obopay. Holmes previously worked for First Data Corp. and Visa USA.

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.

April 29, 2008

Glenbrook Looks at Alternative Payment Options for Retailers

eBillme has announced it will host a webinar on Wednesday, May 14, where Russ Jones of Glenbrook Partners will provide an in-depth look at the retailer integration process for several alternative payment options including: Bill Me Later, eBillme, Google Checkout, and PayPal. READ MORE »

US Debit Card Opportunities and Challenges

Phoenix Payments has announced the results of its 2007 Consumer Payments Preferences and Usage Study: Debit Card Opportunities and Challenges. The study findings include a detailed report on debit card issues, covering consumer preferences, attitudes, and usage of debit cards as well as debit’s relationship to other payment methods. READ MORE »

PULSE Releases 2008 US Debit Issuer Study

A new study of debit cards in the US market commissioned by PULSE identified superior performance by “best-in-class” issuers - 'suggesting significant untapped potential in debit for many financial institutions.' READ MORE »

Finovate Startup - Best of Show Awards

Erin McCune blogs the best of show awards for today's Finovate Startup conference. My notes from the company presentations are available here. It was a great event, extremely fast paced and a lot of fun. Be sure to read Erin's coverage as well.

BayPay Meeting - Wednesday, April 30 - 6-9 PM - Mobile Payments

There's a BayPay meeting for San Francisco Bay Area payments professionals being held tomorrow night, Wednesday, April 30, from 6-9 PM. The topic is "From Mobile Banking to Mobile Payments". If you're already a BayPay member, you should have already received the details on meeting location, etc. If you're not a BayPay member and would like to join, contact me directly and I'll fill you in on the details.

Live at Finovate Startup - San Francisco

We're live at the wonderful UCSF Conference Center in the Mission Bay of San Francisco - about a minute until the first demo session begins at FinovateStartup. We'll be updating this post with our notes from the demos through the day. READ MORE »

CyberSource, PayEase Partner for eCommerce in China

CyberSource and China-based PayEase Technology Ltd. have announced a collaboration to facilitate merchants’ entry into the China market. With the PayEase/CyberSource solution, merchants gain support for both Chinese credit cards as well as debit cards from over 20 key banks. READ MORE »

Visa Inc. Earnings Presentation

Yesterday, Visa Inc. announced its first quarter of financial results since going public. The press release and an accompanying presentation are available online along with a webcast of the conference call held yesterday discussing the results.

CTST 2008 Focusing on NFC Payments - May 12-15 - Orlando

CTST 2008, the largest payment, security and identification conference in the Americas, is being held this year May 12th through 15th at the Orange County Convention Center West, in Orlando, Fla. International industry leaders presenting during the Mobile and NFC Track include: 3G Americas, Aite Group, Authentec, Bay Area Rapid Transit District, Booz Allen Hamilton, Cassis International, Cellular South, Citibank, FireThorn, First Annapolis Consulting, First Data, Gemalto, Giesecke & Devrient, Infineon Technologies, Inside Contactless, Motorola, Nokia, NTT DoCoMo, NXP Semiconductors, Sprint Nextel, StoLPaN, Venyon, ViVOtech and Vodafone. READ MORE »

MasterCard Reports First-Quarter 2008 Financial Results

MasterCard has reported its financial results for the first quarter of 2008. Net revenue for the first quarter of 2008 was $1.2 billion, a 29% increase versus the same period in 2007 with currency fluctuations (driven by movement of the euro and the Brazilian real relative to the U.S. dollar) contributing 5.1% of the increase in net revenue for the quarter MasterCard's gross dollar volume increased 14.1%, on a local currency basis, to $611 billion.

A Look at Bill Me Later

Keith Regan looks at Bill Me Later in a post on saying that "credit card-free alternative Bill Me Later has proven that merchants and consumers alike are hungry for alternatives."

US Federal Regulators to Crackdown on Credit Card Issuer Practices

Damian Paletta writes for the Wall St. Journal that "the Federal Reserve and two other regulators [OTS and NCUA] plan to propose strict policies on credit-card issuers after criticism that card companies charge too many hidden fees and unfairly raise interest rates on borrowers." He says the plan is expected to be introduced by the Fed at a meeting this Friday.

Payments Professionals Management Changes

We have received news of the following recent management changes:
  • Joseph Saunders has been named Vice President, Business Development, at Digital Resolve. Previously, Saunders was responsible for new market development at TARGUSinfo.

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.

April 28, 2008

A Skeptic on Mobile Payments

Karen Webster writes for the Catalyst Code blog about her view of mobile payments - which could be summarized as something like "too much buzz, not enough tough-minded thinking." She suspects industry analysts are just being too optimistic.

Instead, Webster argues: "Getting merchants and customers to adopt something new when, by and large, their experience today at the physical point of sale is pretty darn good, takes a whole lot more than just saying it is so or having technology that can enable neat new things."

Any More Payments/Banking Bloggers?

Yesterday, we mentioned we were building a new page on Payments News with RSS feeds from payments and banking-related blogs. We had a number of responses from bloggers today and have updated the page to reflect those responses.

Are there any more blogs we should add - please let us know!

US OCC Issues Guidance to Banks Regarding Payment Processors

The US Office of the Comptroller of the Currency late last week issued new risk management guidance to banks on the subject of payment processors. The OCC said that 'certain merchants, such as telemarketers, pose a higher risk than other merchants and require additional due diligence and close monitoring.' READ MORE »

Visa Inc. Reports Fiscal Second Quarter 2008 Results

Visa Inc. has reported financial results for its second fiscal quarter ended March 31, 2008. Net operating revenue was $1.5 billion with Visa's payments volume growing 19% year over year to $681 billion. READ MORE » Adds Bill Me Later Acceptance

Bill Me Later has announced that, a specialty retailer of footwear and accessories, has launched Bill Me Later on its web site. With the Bill Me Later payment service, consumers can conveniently and securely make online purchases without a credit card. is also extending the additional convenience and flexibility of no payments for 90 days to its customers. READ MORE »

A Global View on Mobile Payments

In his article titled 'Mobiles begin calling the shots on banking and payments', Trevor Lloyd-Jones writes for Business Intelligence Middle East about mobile payments efforts in many countries around the world and interviews Mi-Pay's CTO Simon Cavil. 'The use of mobiles for banking and payments is transforming lives and economies, especially in the unbanked and rural areas of many countries without branches and other traditional banking channels, such as ATMs, fixed line telephones and the Internet.' Some fascinating reading! Dave Birch did a podcast interview with Simon Cavil a year ago.

First Data Corp. to Acquire InComm

First Data Corp. has announced an agreement to acquire InComm, a marketer, distributor and technology innovator of stored value gift and prepaid products. Specific terms and conditions of the agreement were not disclosed, but the transaction is expected to be accretive to First Data. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be completed in the second quarter of this year. READ MORE »


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