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« January 13, 2008 - January 19, 2008 | Main | January 27, 2008 - February 2, 2008 »

January 25, 2008

Bank of America, SunTrust and Wells Fargo Win Awards

Barlow Research has announced that Bank of America, SunTrust and Wells Fargo are winners of Barlow's Monarch Innovation Awards for their innovative products, features and service enhancements. Bank of America won the Overall Most Innovative award for its Easy Online Payroll and the Most Innovative Customer Service Enhancement award for its Online Text Chat Service. SunTrust won the Innovative Feature Award for its Fraud Inspector solution. Wells Fargo won the Most Innovative Product award for its Wells Fargo Merchant Checking account.

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Headline News - January 25, 2008

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

January 24, 2008

Beyond Payday Loans

In today's Wall St. Journal, former president Bill Clinton and California governor Arnold Schwarzenegger have an op-ed piece titled "Beyond Payday Loans" - where they write about efforts they're backing to help reduce the $8 billion spent on check cashing services, payday loans, etc. They write: "Here is one initiative that can unite progressives and conservatives as well as business leaders and community activists: helping the "unbanked" enter the financial mainstream by opening checking and savings accounts, and working collaboratively with financial institutions and community groups to develop and market products that work for this untapped market."

A Look at Noca

TechCrunch's Mark Hendrickson writes about Noca, a Redwood City, CA-based startup that "is attempting to virtually eliminate transaction fees by bypassing the credit card companies altogether with its own online payment service." Noca's mission statement says it is "building a new online payment system to provide significantly reduced transaction processing rates for online shopping enabling efficient processing of micro-transactions for digital goods."

IBC Bank, Visa Sign Debit Partnership Agreement

IBC Bank, a member of International Bancshares Corporation, and Visa Inc. have announced signing a five-year partnership agreement that will result in IBC converting its entire debit portfolio of 450,000 debit cards in the United States to Visa-branded products as well as using the Visa Debit Processing Service (DPS) for debit card processing.

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Visa Reports PCI Compliance Continued to Grow in 2007

Visa Inc. has announced that "as of the end of 2007, more than three-fourths of the largest U.S. merchants (those processing six million or more Visa transactions annually) and nearly two-thirds of medium-sized merchants (those processing between one million and six million Visa transactions annually) have now validated their compliance with the Payment Card Industry Data Security Standard (PCI DSS). Merchants in these two categories account for approximately two-thirds of Visa's U.S. transaction volume."

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January 23, 2008

Upcoming Glenbrook Payments Education Opportunities

Glenbrook has a number of Payments Boot Camps, special focus workshops and roundtables currently open for registration. They include:

There is much more information about all of these courses available on the Glenbrook website - including who the instructors are for each course, course fees, agendas, online registration, etc. Questions or need more information? Contact Glenbrook's Carol Coye Benson.

PayPal Fourth Quarter 2007 Results

eBay reported fourth quarter 2007 financial results earlier today - saying that "PayPal posted another stellar quarter with $563 million in revenue, an increase of 35% year-over-year. Net total payment volume (TPV) for the quarter was $14.04 billion, an increase of 35% year-over-year. The revenue and net TPV growth represents increased penetration on eBay as well as expanded adoption of PayPal Merchant Services across the Web. PayPal will continue to focus on greater penetration into the Marketplaces business as well as the acquisition of new merchants."

In other eBay news, eBay CEO Meg Whitman announced she would be stepping down in March. John Donahue, currently president of eBay's auction business, has been named her successor. Rajiv Dutta, currently President of PayPal moves to President of eBay. Scott Thompson, currently PayPal's CTO, will be the new President of PayPal.

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InComm, Single Touch Interactive Focus on Mobile Coupon Redemptions

Single Touch Interactive and InComm have announced that they have partnered to provide customers with mobile coupons through retail loyalty cards. According to the two companies, "combining InComm’s point of sale integration at over 100,000 top national retail stores with Single Touch Interactive’s ADC mobile technology creates an easy to use mobile coupon platform that doesn’t change customer or retailer behavior."

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Using Mobile Phones to Make Remote Check Deposits

Mitek Systems has announced ImageNet Mobile Deposit, calling it "the first mobile banking software that allow banks to accept paper check deposits and bill payments via camera-equipped mobile phones." Mitek will demonstrate ImageNet Mobile Deposit in booth #225 at the BAI-TransPay show beginning February 5, 2008 in Dallas at the Gaylord Grapevine Resort.

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Bill Me Later Shares Some 2007 Holiday Results

Bill Me Later has announced its 2007 holiday results - reporting an upsurge in toys, travel and fashion purchases in Q4 2007 as compared to Q4 2006. Toy
purchases grew 131 percent, travel buying increased 67 percent, female
fashion, including shoes and handbags, increased 128 percent. The company also reported that consumers who used Bill Me Later more than doubled their use of deferred billing in Q4 2007 as compared to Q4 2006.

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First Data To Provide Prepaid Card Solution For Cadooz

First Data Corp. has announced that it has signed a contract with cadooz AG, a leading provider of corporate gift and incentive vouchers in Germany, to deliver card-based incentive and reward solutions.

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Monitise Launches NFC Payments and Ticketing Platform

Monitise has announced the launch of MoniTrust, a platform for Near Field Communication (NFC) payments and ticketing.

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Heartland to Accept American Express on its Platform

American Express and Heartland Payment Systems have announced that they will offer a streamlined process that enables merchants to accept American Express Cards on Heartland’s merchant processing platform.

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January 22, 2008

MasterCard Appoints Two New Board Members

MasterCard has announced the election of Jose Octavio Reyes Lagunes and Silvio Barzi to its Board of Directors. Jose Octavio Reyes Lagunes, 55, is President, Latin America Group at The Coca-Cola Company. Silvio Barzi, 60, is the Executive Vice President of UniCredit Group, Head of New Markets, and founder and Chairman of UniCredit Consumer Finance, a bank specializing in credit cards and consumer credit.

Visa Europe CEO Comments on Interchange, Surcharging

Thomson Financial reports on comments by president and chief executive of Visa Europe Peter Ayliffe regarding the need to advance discussions with the European Commission on interchange fees. Ayliffe also spoke out strongly against surcharging.

Fair Isaac Introduces Credit Risk Management Suite

Fair Isaac has announced "a new forward-looking decision tool kit for lenders. The Fair Isaac Risk Management Suite, available in 2Q08, provides deeper insight into the future debt sensitivity and default risk of individuals, as well as more precise understanding of default risk across entire loan portfolios."

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Sybase 365 Partners with C-SAM for Mobile Banking and Payments

Sybase 365 has announced a partnership with C-SAM to extend its mobile banking platform - Sybase mBanking 365 - to include a downloadable Java and NFC compatible client.

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Headline News - January 22, 2008

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

January 21, 2008

Headline News - January 21, 2008

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

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