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January 11, 2008

When Gift Cards Go Bad

San Jose Mercury News columnist Mike Cassidy writes about his own (and others) recent experience with a gift card purchase where the card was not recognized as valid when his wife attempted to redeem it.

Google Checkout Trends

Google has introduced Google Checkout Trends, a tool that allows anyone to get some insight into what Google Checkout merchants are selling - by item - online. According to Google, "Google Checkout Trends aggregates the sales data of Google Checkout merchants and charts it in a matter of seconds. (Of course, all the data is anonymized first.)"

Wachovia Launches Way2Save Savings Program for Consumers

Wachovia has announced a new program, Way2Save, that is says will help American consumers by making it easy and automatic to save money. According to the bank, "Way2Save encourages customers to save by transferring $1 from their checking account into a new special savings account each time they make a Check Card purchase or an electronic payment."


Headline News - January 11, 2008

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit Employers looking to hire payments professionals can post their job openings there as well.

January 10, 2008

Glenbrook's Card Payment Processing Special Focus Workshop - Feb. 21

Glenbrook's Linda Elliott and Carol Coye Benson will be hosting a new Glenbrook Special Focus Payments Workshop on "Card Payment Processing: The Value Chain" on February 21st, in Santa Clara, California. This workshop will provide a "dive deep" into exactly who does what in the payment card processing value chain.


Vesdia Launches New Rewards Credit Cards

Vesdia Corporation, a provider of loyalty marketing services, has announced the launch of four new Visa credit cards to support its leading reward programs: BabyMint, NestEggz, Stockback and FundraiserRewards. According to the company, these new cards, launched in partnership with MXT Card Services, provide consumers with additional earning opportunities in the rewards currencies that matter most to them.


Chockstone Processes Over $1 Billion in Loyalty Marketing Volume

Chockstone has announced that in 2007 it processed $1.1 billion of volume across its gift card programs, its integrated gift and loyalty programs, and its credit card gateway services, representing a growth rate of 169 percent over 2006’s volume of $395 million.


Chase Launches Office Depot Worklife Rewards Visa Signature Card

Chase Card Services and Office Depot have announced the new Office Depot Worklife Rewards Visa Signature Card for both business owners and consumers.


Credit Card Delinquency Rates On the Rise

Jessica Silver-Greenberg writes for Business Week that "rates of delinquency for credit-card holders rose in November, according to a study by RiskMetrics Group, a financial research organization" - with the pace of deterioration increasing from prior months.

Metavante Acquires Nomad Payments Ltd.

Metavante Technologies has announced the acquisition of London-based Nomad Payments Limited, a provider of prepaid and debit card processing and licensed software. The purchase price was approximately $58 million. Nomad will now operate as Metavante Technologies Limited, part of the Metavante International Group.


January 09, 2008

Solidus Networks (Pay By Touch) Announces New Board of Directors

Solidus Networks Inc., doing business as Pay By Touch, has announced a new Board of Directors: Art Petrie, Chairman; Eula Adams, John Morris, John Rogers, and Robert Sigler. According to the company, "the new Board is overseeing the structuring of a new executive team. Tom Lumsden serves as Chief Restructuring Officer, directing activities at Solidus Networks. Eula Adams continues as COO, Robert Sigler continues as CFO, and John Rogers, founder of the Company, now functions in a non-employee director role only."


First Hawaiian Goes with MasterCard PayPass for Debit Cards

First Hawaiian Bank has announced it has begun issuing MasterCard PayPass contactless debit cards provided by Giesecke & Devrient. "The Bank’s Priority Rewards MasterCard PayPass debit cards, powered by INSIDE Contactless’ MicroPass intelligent hardware technology, enhance the Bank’s traditional card offering and offer a secure and convenient payment method. G&D has delivered the contactless debit cards, as well as traditional magnetic stripe credit and debit cards, for First Hawaiian Bank card programs."


New Jobs Just Listed on

It's a New Year - and payments companies are hiring! If you're looking for a new opportunity, be sure to visit There you'll find payments-related career opportunities for payments professionals - including just posted listings from Expedia, Visa Inc., Skylight Financial, Gilbarco, Danal, CPNI, and more. There's even a new listing for an East Coast-based senior associate for us, Glenbrook Partners. And, If you're looking to hire payments professionals, be sure to post your current job openings on

Discover's US Spending Monitor Paints Gloomy Outlook

Discover's latest US Spending Monitor paints a gloomy outlook for consumer fiannces going into 2008: "For the first time since June, less than a majority (49 percent) expected to have money left over after paying their monthly bills. Furthermore, December marked the fourth consecutive increase in the number of consumers expecting to have no money left over after paying monthly bills, topping out at more than 39 percent. Of those who had money left over, 27 percent had less left over than the previous month, a Monitor high, and a number that has also increased four months in a row." READ MORE »

Intuit Introduces Quicken Online Personal Finance Service

Intuit has announced the availability of Quicken Online – calling it "a new Web-based service that makes it easy for people to instantly see how much money they have coming in, how much they are spending, and what’s left at the end of the month." In terms of mobile banking features, Quicken Online includes an interface optimized for the Apple iPhone along with alerts sent via SMS, etc.


Monitise Americas Announces Mobile Banking Customers

Monitise Americas has announced that its partner, the NYCE Payments Network, has signed agreements with ten new financial institutions to utilize mobile financial services powered by Monitise Americas. READ MORE »

Chase's New Marketing Campaign Launches Sunday

In a press release this morning, Chase discusses its new marketing campaign - scheduled to debut this Sunday. According to the bank, the campaign "will shine a laser-like focus on What Matters to customers, alerting them to the ways Chase can help them manage their money and their lives."


January 08, 2008

Fed Reports Revolving Consumer Credit Uptick in November

The Federal Reserve's latest G.19 Consumer Credit report earlier today that revolving credit increased at an annual rate of 11-1/4 percent in November 2007, a significant uptick from months earlier in 2007.

PSCU Financial Services to Offer Mobile Banking to Credit Unions

PSCU Financial Services has announced that it is adopting mFoundry’s mobile financial platform to deliver mobile banking and payment services to credit unions and their membership beginning in the second quarter of 2008.


The Paradies Shops to Accept Contactless Payments

MasterCard Worldwide has announced that "The Paradies Shops, the nation's leading airport concessionaire, expects to accept MasterCard PayPass contactless payment transactions at its more than 500 retail store locations throughout the U.S. and Canada by late 2008."


Obopay Enters Indian Market

India's Economic Times reports that "Obopay, the US based pioneer in mobile payment services, on Tuesday said it has signed up with six banks and three mobile telephone providers, including BSNL, for its formal entry into the Indian market."

Capital One Supports Personalized Images on Credit Cards

Capital One has announced the addition of a new “personalized image” feature for its customers. All Capital One consumer credit card customers now have the option to visit the Capital One web site and upload their own photo images – family, friends, pets, or a favorite picture – to be printed on their card, at no cost.


Alternate Payment Services Have Some Pitfalls

SmartMoney's Kelli B. Grant writes about alternative ecommerce payments - Bill Me Later, PayPal, and eBillMe - and identifies "four reasons you may want to think twice before hitting the "checkout" button using one of these services."

Fiserv to Use Viewpointe Check Image Archive

Fiserv and Viewpointe have announced that Fiserv will use the Viewpointe archive to expand its current image storage offerings to its 1,600 check processing clients. According to Viewpointe, "as an archive user, Fiserv joins several of the nation's largest financial institutions in having access to the most robust common archive in the industry. Fiserv will continue to use its current image archive for delivery of products such as image statements, CD/ROMs and DVDs."


MasterCard Europe, Europay France to Integrate Operations in France

MasterCard Europe and Europay France have announced an agreement to
integrate their operating structures in France to support French banks' efforts to
provide competitive payment services.


ClairMail's Event Engine Delivers Real-Time 2-Way Actionable Alerts

ClairMail has introduced the ClairMail Event Engine, which handles 2-way actionable alerts for mobile banking and payments that enables financial institution customers to easily define and receive real-time 2-way mobile alerts for improved account management, heightened fraud prevention and innovative mobile payments.


Headline News - January 8, 2008

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit Employers looking to hire payments professionals can post their job openings there as well.

January 07, 2008

Global Payments Introduces New Transaction Processing Platform

Global Payments has announced the introduction of a what it is calling a "next generation payment processing platform, Global Transport," saying it "was designed with a uniform application programming interface supported by multiple communications options to simplify and speed integration to the merchant’s payment acceptance environment for debit, credit, and EBT transaction processing."



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