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May 24, 2008

Payments News - Weekly Wrap - May 24, 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. Back to the future!: for fun, click for this same week's activity a year ago here on Payments News!

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!

May 23, 2008

International Job Postings Now Supported on PaymentsJobs.com

Our PaymentsJobs.com jobs board has recently been enhanced to accept jobs outside the US. ZIP codes are now only required for US-based positions. If you select another country when you post, you get a free form text field to enter a city or province or region, etc. A credit card issued in the US is still required for payment. Here's the page where you can quickly list your job openings on PaymentsJobs.com

Trusteer Partners with ING DIRECT

ING DIRECT has announced that it has partnered with Trusteer to become the first US bank to offer Trusteer’s Rapport consumer Identity Theft protection software free to all of its customers. READ MORE »

Andera Signs 200th Financial Institution Customer

Andera, a provider of online account opening and funding solutions to the financial services industry, has announced that it achieved a major milestone with the signing of its 200th financial institution customer. READ MORE »

May 22, 2008

Thanking You - and Pardon Us Tooting Our Horn Just a Bit!

Today's a day for celebrating! Early this morning, the number of subscribers to the daily email distribution of Payments News crossed 4,000. We're truly delighted with this milestone - and very gratified that so many of you find Payments News useful.

Payments News is a "sideline" for us at Glenbrook - but also a labor of love! Our "day job" is the strategy consulting work we do for a wide range of clients around electronic payments - and our payments education program serving payments professionals.

To keep ourselves current, years ago we started sharing among ourselves the most interesting payments-related news of the day - via an email distribution list. A few years later, it became almost as easy to post to a blog as to send an email - and Payments News was born. The earliest stories here in our archives date back over six years to April 2002.

Today, in addition to the 4,000 daily email subscribers, we serve over 8,000 unique visitors every weekday - many of them finding us (and Glenbrook) when they search for a payments-related topic and end up here. And, in our payments education program, we've now had over 2,000 payments professionals attend one of our Payments Boot Camps!

So, many thanks for being here with us! As always, if you've got comments to help us improve, please send them along anytime by clicking on the Feedback link in the top menu bar - we're all ears and really do appreciate hearing from you! To send us news that you'd like to have covered on Payments News, send it along to us: gotnews@paymentsnews.com.

Glenbrook, by the way, celebrated its seventh birthday just a couple of months ago. If you've got a project in mind where we can help as consultants, just contact any of the Glenbrook team and we'll get right back to you.

WAUSAU Financial Systems, ClairMail Partner for Mobile Lockbox

WAUSAU Financial Systems and ClairMail have announced an agreement to extend the mobile channel to WAUSAU's remittance processing solutions. According to the two companies, "by integrating ClairMail's Mobile Lockbox technology with its remittance processing managed service, WAUSAU will empower its customers to include payments via mobile phones as part of their receivables processing offering to their clients." READ MORE »

The Expedited Bill Payment Opportunity for Banks

Glenbrook's Allen Weinberg and Jim Salters attended this week's Payments 2008 conference in Las Vegas. Jim has just posted a new report about the expedited bill payment opportunity for banks.

Jim writes: "For years, bank-offered bill pay has been a net cost to banks. However, banks and their service providers have been increasingly looking for ways to shift those payments from a net cost, to a source of revenue."

Merchant's Guide to Card-Not-Present Interchange Fees

The Merchant's Guide, LLC has announced the release of "Understanding Credit Card Interchange In Card-Not-Present Environments" calling it "the first comprehensive guide developed to provide direct sellers with the tactical knowledge to minimize credit card Interchange fees." READ MORE »

The Best Banking and Payments Blogs

Brad Garland's latest Banktastics' The Burst videocast covers his view on the best banking and payments related blogs - including Jim Bruene's Netbanker, Colin Henderson's Bankwatch, The Story, Marketing ROI, and even Payments News too!

As a reminder, we've got a long list of banking and payments blogs on one page here on Payments News. Got more favorites that we've missed? Add yours in the comments to this post or drop us an email!.

MasterCard Names Rob Reeg to Top Technology Post

MasterCard Worldwide has announced the appointment of Rob Reeg as President, MasterCard Global Technology and Operations, a position Mr. Reeg has held on an interim basis since January 2008. MasterCard Global Technology and Operations (GTO) has its headquarters outside St. Louis and operations around the world. READ MORE »

UK's Faster Payment Service Launches Next Week

APACS has published new materials to help customers wishing to benefit from the new Faster Payment Service as it begins its rollout on May 27th . APACS has produced a new, downloadable advice guide, How to use the Faster Payments Service icon_PDF_small.gif, along with an online easy-to-use sort code checker. Customers can input any UK sort code to check whether it is able to receive Faster Payments. More sort codes will be added over the next few months as the service is rolled out. All these materials are available from www.apacs.org.uk. READ MORE »

May 21, 2008

Mercator Looks at US Mobile Banking Initiatives

The Mercator Advisory Group has announced a new report titled "US Mobile Banking: Sedate Growth, Disruptive Potential". According to Mercator, "mobile banking will be a disruptive force for smart FIs willing to tailor their message to specific demographics. Otherwise, mobile banking is in danger of becoming "yet another" convenience feature leaving the broad flank of the FI community exposed to more nimble players wielding mobile-enabled alternatives. A mobile-enabled decoupled platform is just one possibility." READ MORE »

Chicago Fed Releases Payments Fraud Assessment

The Federal Reserve Bank of Chicago has announced the release of a Chicago Fed Letter titled "Assessing the landscape of payments fraud" icon_PDF_small.gif by Katy Jacob and Bruce Summers. "This Fed Letter provides a broad overview of the issue of payments fraud and of various perspectives on how to effectively deal with the problem."

The Federal Reserve Bank of Chicago will host its eighth annual payments conference on June 5-6, 2008. The conference will highlight threats to the security of the payments system and explore solutions to those challenges. This article previews issues that will be covered at the conference.

Microsoft Introduces Live Search Cashback Awards Program

Calling it "The Search That Pays You Back", Microsoft later this morning is introducing a new cashback awards feature on its Live Search web site. READ MORE »

First Data, EUFISERV Partner for European Processing Expansion

First Data Corp. has announced that it has signed an agreement with EUFISERV and its fifteen shareholders (including twelve European banks and banking organizations) to expand and develop the European inter-bank processing network managed by EUFISERV. The two companies said that "connecting the existing networks of EUFISERV and First Data will create the opportunity for customers to access more than 74,000 ATMs, 1.5 million POS merchants and to reach more than 165 million debit and credit card accounts in Europe." READ MORE »

Payments Professionals Management Changes

We have received news of the following recent management changes:

  • Guilherme Blumenthal has been named Chief Operations Officer and Chief Payments Risk Officer at Visanet Brazil. Previously, Guilherme was EVP Global Sales and Operations at Hypercom Corporation.

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.

May 20, 2008

Day 2 Field Report from NACHA's Payments 2008 Conference

Glenbrook's Allen Weinberg and Jim Salters are attending this week's Payments 2008 conference in Las Vegas. Here's Allen's second report from today's sessions including his notes on the panel he chaired this afternoon titled “Payments aren’t about Payments Anymore”.

A Different Kind of Mobile Payment: Mobile Giving to Charities

Bellevue, Washington-based Mobile Giving Foundation has announced that Qualcomm, through its Wireless Reach initiative, has become MGF's founding patron in pursuit of its mission to create a single "mobile giving channel" allowing more than 250 million wireless users in the U.S. to make charitable contributions instantly through SMS from their cell phones. READ MORE »

Annals of Knowledge-Based Authentication

Glenbrook's Carol Coye Benson posts a rant on her latest experience as a customer being forced through a knowledge-based authentication drill with a vendor (AT&T) who already knows her well.

US Check Image File Format Standard Agreed

The CheckImage Collaborative has announced the creation of a Universal Companion Document (UCD) which establishes a uniform industry approach for populating and validating check image files. Since the implementation of the Check Clearing Act for the 21st Century (Check 21) in October 2004, the banking industry has been rapidly transforming from a paper-based check clearing structure to an image-based system with nearly half of all checks paid cleared as images today. Ongoing interoperability issues have impacted the industry's ability to realize the full value of check image clearing. One of the biggest obstacles to true interoperability has been the use of the check image file format standard. The creation of the UCD establishes a consistent approach for all industry participants to use when processing check image files. READ MORE »

FreshGames Partners with TrialPay

TrialPay has announced it is partnering with FreshGames to give away ZenGems, Cubis 2 and the Cubis 2 Expansion Pack for free. Using TrialPay, players can get FreshGames’ most popular titles free for a limited time by trying or buying an offer from blue-chip advertisers. READ MORE »

ETA Annual Meeting Presentations Available Online

The Electronic Transactions Association held its Annual Meeting & Expo in April. Many of the presentations from that meeting are available for downloading from the ETA's web site. Some of the topics include "When Interchange Really Isn't Interchange: The Relevance of Interchange Optimization for Merchants" icon_PDF_small.gif and "PCI Security & You" icon_PDF_small.gif.

eBillMe Adds Crutchfield

Crutchfield has announced that customers who shop online or through their call center can now choose to pay securely with cash using eBillme, an alternative payment option which brings online banking to the eCommerce checkout. READ MORE »

More Reports from Payments 2008

Glenbrook's Allen Weinberg and Jim Salters are in Las Vegas (tough duty!) attending this week's Payments 2008 conference hosted by NACHA. Allen filed his first report last night and Jim just filed his first report from the conference on yesterday's general session and the keynote by Peter Raskind, CEO of National City. If you're attending Payments 2008, be sure to "say hi" to Allen and Jim!

Insights into the Consumer Appeal of Gift Cards

The 2007 U.S. Gift Card Consumer Insights Survey commissioned by First Data Corp. found that birthdays top the list of occasions to give gift cards, leading consumers to buy gift cards year-round. Nine out of 10 American adults who responded to an online survey purchased or received a gift card in the previous 12 months and six out of 10 did both, according to the survey, a significant increase from the previous year's findings. READ MORE »

Unisys Security Index Finds Bank Customers Concerned

The latest U.S. results of the Unisys Security Index find that Americans are more concerned than they were seven months ago about national security issues and health epidemics and are increasingly concerned about financial security issues and worries about identity theft. READ MORE »

Biographically-based Authentication

Acxiom has announced FactCheck-X Authenticate - calling it "a more secure means of online account authentication. Based on unique, biographically based question-and-answer sessions for account holders, businesses are more secure and customers can experience a better online authentication experience." READ MORE »

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