Payments News - Weekly Wrap - April 12, 2008
Here's a review of this week's top stories on Payments News. If you missed it, last week's Weekly Wrap is here.
- Accceptance News
- Discover Financial Services announced plans to acquire the Diners Club International Network from Citigroup to expand acceptance of Discover Cards worldwide. (See more Discover news.)
- Processor News
- Mastercard Introduced a new debit card processing platform named MasterCard Integrated Processing Solutions (IPS) (See more MasterCard news.)
- TSYS announced n>gen - calling it "a new business paradigm that makes it easy for TSYS clients to efficiently and thoroughly manage all their complex payments-related business needs with point-and-click ease." (See more TSYS news).
- Mobile Payments News
- Obopay selected iovation for anti-fraud services on the Obopay mobile payments platform. (See more Obopay news).
- PayMate introduced GiftMate mobile vouchers for instant gifting to friends and relatives in India. (See more PayMate news).
- Fundamo, a South Africa-based mobile banking provider, pursues international expansion out of Africa.
- CyberSource and mPoria announced a strategic channel partnership for mPoria's GoMobile! m-commerce technology. (See more CyberSource news).
- US Payment Card Interchange Fee News
- The sponsors of the Credit Card Fair Fee Act legislation (Rep. John Conyers and Rep. Chris Cannon) responded to the Wall St. Journal's earlier editorial arguing against the act.
- The National Association of Convenience Stores complained that "the industry's credit card fees are now more than double the industry's pretax profits." (See more Interchange Fee news).
- On Friday, the AP published a survey story about merchant concerns with credit card interchange fees.
- New Services
- HSBC and Loyalty Lab formed an alliance to offer advanced loyalty and customer retention marketing (CRM) capabilities to retailers. (See more HSBC news).
- Bank of America announced the Bank of America Visa Supply Shelf card, a prepaid debit card for teachers. (See more Bank of America news).
- Vesdia announced the expansion of its merchant-funded rewards network. (See more Vesdia news.)
- Merchant Acquiring News
- Frontier Airlines filed Chapter 11 bankruptcy late Thursday blaming its credit card processor, First Data Corp., for imposing holds on funds that necessitated the filing. (See more First Data Corp. news.)
- The ETA Annual Conference and Expo is being held at the Mandalay Bay in Las Vegas next week. Glenbrook's Allen Weinberg will be there.
- Wells Fargo announced that it will offer proprietary single-use accounts to its commercial card customers for business-to-business (B2B) purchases. (See more Wells Fargo news.)
- SunTrust announced the launch of its Enterprise Spend Platform - "an industry-leading end-to-end commercial card management solution." (See more SunTrust news.)
- The US Government Accountability Office published a report on abuses associated with US Government purchasing cards.
- PayPal published a paper titled "A Practical Approach to Managing Phishing" describing the techniques PayPal has used to significantly reduce phishing attacks on PayPal customers. (See more PayPal news.)
- Visa named Tim Wilson as Head of Visa Canada, succeeding retiring Derek Fry. (See more Visa news).
- Retail Product Manager at PreCash, Inc. (Portland, Oregon)
- Project Manager at FSV Payment Systems (Jacksonville, Florida)
- Senior Analyst at Mercator Advisory Group (Waltham, Massachusetts)
- Manager, Fraud and Risk at PayCycle (Palo Alto, California)
- Vice President / Director Business Development at i2c (Redwood City, California)
- Account Executive at FirstCard Merchant Services (Chicago, Illinois)
- Payments Support Manager at SunTrust Bank (Atlanta, Georgia)
- Product Manager II - POS at Chase Paymentech (Tampa, Florida)
- Glenbrook Payments Boot Camp - New York - April 16-17
- Roundtable on Emerging Payments: Cross-Border eCommerce: Pot of Gold and Rainbow of Fraud - San Francisco Bay Area - May 7
- Workshop on The Structure of the Merchant Payments Marketplace - San Francisco Bay Area - June 10
- Glenbrook Payments Boot Camp - San Francisco Bay Area - June 11-12
You can find all of our Weekly Wrap summaries in the Weekly Wrap Archive.
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