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Quote of the week:: "In the last six months, we’ve watched consumer optimism about the economy decline sharply and at the same time, witnessed a forced rise in spending intentions spurred by high energy and food prices,” said Margo Georgiadis, executive vice president and chief marketing officer for Discover Financial Services. “Consumers are working hard to make ends meet, with some even cutting back on groceries or sacrificing a vacation to compensate."
- Bill Me Later News
- Amazon.com is now supporting Bill Me Later for payments. (See more Bill Me Later and eCommerce Payments news.)
- Credit Card News
- In a press release, Consumers Union applauded "the government’s effort to protect consumers from unfair credit card practices and calls for quick adoption of the proposed credit card rules in comments submitted to the Federal Reserve Board about regulations proposed by the Fed along with the Office of Thrift Supervision, and National Credit Union Administration." (See more Credit Card and Financial Regulator news.)
- Discover Card News
- Discover Financial Services announced the opening of a new subsidiary, Discover Information Technology (Shanghai) Ltd., in the People’s Republic of China, to support Discover’s data analysis and modeling operations.
- Discover's U.S. Spending Monitor fell nearly a point in June to 85.9, as consumers struggled with rising prices for essentials and continued to lose confidence in the nation’s economy. Economic confidence hit a new Monitor low, falling in June to a level that is nearly 30 points lower than a year ago.
- Mobile Banking News
- Satyam Computer Services announced that it has entered into an alliance with Tyfone, a provider of mobile financial services, infrastructure and mobile payments capabilities. (See more India and Mobile Banking news.)
- Washington Mutual announced that it has launched mobile banking capabilities, "delivering account information – anytime, anywhere wireless service is available, providing customers the ability to view real-time account balances, view and search real-time transaction history and locate a nearby branch/ATM." (See more Mobile Banking and Washington Mutual news.)
- mFoundry announced the launch of the industry’s first bilingual mobile banking application with the Laredo-based flagship bank of International Bancshares Corporation - IBC Bank. (See more Mobile Banking and mFoundry news.)
- Mobile Payments News
- eCommerce and mobile commerce solution provider, Mpayy, Inc. has announced that it has closed its Series B financing led by US Bancorp with participation from a number of private investors. (See more Mobile Payments news.)
- Online Banking News
- Gemalto announced that over one million Barclays Bank customers in the UK are using its cryptographic smart card reader, called PINsentry by Barclays, to provide stronger authentication for online banking.(See more Barclays, Online Banking and UK news.)
- comScore released a report on the Canadian online banking sector showing that Canada is one of the world's most developed markets for online banking. (See more Canada and Online Banking news.)
- Open Job Listings on PaymentsJobs.com
- Compliance Manager - Mountain View at Google, Inc. (Mountain View, California)
- Director Customer Support and Implementation at Purepay (Gaithersburg, Maryland)
- Manager-Network Technical Operations at American Express (Phoenix, Arizona)
- Customer Insights Manager - Bankcard/Co-Brand at Alliance Data (Columbus, Ohio)
- Risk Operations Manager at CyberSource (Mountain View, California)
- Sr. Product Marketing Manager at CyberSource (Mountain View, California)
- Web Marketing Manager at CyberSource (Mountain View, California)
- Upcoming Glenbrook Payments Education Offerings
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!