Payments News - Weekly Wrap - May 3, 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.

• Conferences
  
  • Glenbrook's Scott Loftesness attended this week's Finovate Startup conference in San Francisco and blogged in real-time here on Payments News as the companies were presenting.
• First Quarter 2008 Financial Results
• Visa Inc. reported its first ever quarterly financial report as a public company. Visa also announced its first corporate responsiblity program in partnership with the Clinton Global Initiative. (See more Visa news.)
• MasterCard Worldwide reported financial results for the first quarter noting that gross dollar volume grew 14.1% (See more MasterCard news.)
• TSYS reported first quarter financial results and held its first-ever annual shareholder meeting since it became in independent public company. (See more TSYS news.)
• China News
  • CyberSource announced an ecommerce partnership with PayEase in China. (See more CyberSource and China news.)
• Contactless Payments News
  • The upcoming CTST 2008 conference being held in Orlando May 12-15 will focus on NFC contactless payments. (See more contactless, NFC and mobile payments news.)
  • MasterCard announced that it was increasing its no-signature required threshold on PayPass contactless payments in Canada to $50. (See more Canada, contactless and MasterCard news.)
  • Global Payments announced it was supporting MasterCard PayPass contactless acceptance at Pioneer Petroleums in Canada. (See more Canada, contactless, Global Payments and MasterCard news.)
• Debit Card News
  • Pulse issued its annual update to its US Debit Issuer Study. (See more Debit Card news.)
  • Phoenix Payments announced the results of its 2007 Consumer Payments Preferences and Usage Study: Debit Card Opportunities and Challenges<. (See more Debit Card news.)
• Interchange Fee News
  • The Federal Reserve Bank of Kansas City's Payment Systems Research group published a new paper titled "Developments in Interchange Fees in the United States and Abroad".
  • The press continued to report about merchant frustrations with interchange fees and efforts in Congress to have them reduced. (See more Interchange Fee news.)
• Legal and Regulatory News
  
  • Amazon.com sued New York State over its new law that forces online retailers to collect sales tax on shipments to state residents.
  • Senator Chris Dodd introduced legislation in the US Senate to improve credit card billing, marketing, and disclosure practices.
  • The Federal Reserve Board, the Office of Thrift Supervision and the National Credit Union Administration proposed new rules to protect consumers from various credit card issuer practices. The rules also address bank fees on overdrafts on checking accounts. The American Bankers Association doesn't like them. Consumer groups and others generally approved of them. The New York Times, in an editorial today, called them a modest step forward. The Fed has opened a 75-day comment period for reactions to the proposed rules and we provided a how to comment guide.
• Mobile Payments News
  
  • PayPal provided more information about its work with Sprint Nextel to provide a mobile payments application. (See more PayPal Mobile and Mobile Payments news.)
  • Obopay announced Gregory Holmes as its new President, US. (See more Obopay and Mobile Payments news.)
  • BayPay, a group of payments professionals in the San Francisco Bay Area, held its latest meeting focusing on "From Mobile Banking to Mobile Payments."
• Online Banking News
  • Washington Mutual announced a new paperless checking account opening process that doesn't even require a signature card (it uses the signature on the first check for the signature card). (See more online banking and Washington Mutual news.)
• PCI Compliance News
  • David Navetta, a lawyer with InfoSecCompliance, published an article titled "The Legal Implications of the PCI Data Security Standard". (See more PCI Compliance news.)
  • Hannaford, a PCI compliant supermarket chain that is one of the most recent victims of a card data breach, said it is spending millions to prevent future data thefts.
• Open Job Listings on PaymentsJobs.com
  
  • Sales Executive at Online Resources (Atlanta, GA)
  • Account Relationship Manager at Skylight Financial (Atlanta, GA)
  • Product Manager at Skylight Financial (Atlanta, GA)
  • Director, Public Relations at Chase Paymentech (Dallas, TX)
  • Retail Product Manager at PreCash, Inc. (Portland, OR)
  • Project Manager at FSV Payment Systems (Jacksonville, FL)
  • Post your current job openings on PaymentsJobs.com!
• Upcoming Glenbrook Payments Education Offerings
  
  • 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
  • Next Glenbrook Payments Boot Camp - San Francisco Bay Area - June 11-12

You can find all of our Weekly Wrap summaries in the Payments News Weekly Wrap Archive. They're published every Saturday and look back at the highlights of the week's news. Please send us on how we can improve the Weekly Wrap!