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November 16, 2009

Conference Papers from KC Fed Payments Conference Now Available

The papers from the recent conference "The Changing Retail Payments Landscape: What Role for Central Banks?" held by the Federal Reserve Bank of Kansas City are now available online.

"This conference explored the changing retail payments landscape and assessed the extent to which central bank payments policies should correspondingly be altered. The conference brought together three principal audiences – industry participants, policy makers, and academics – for an exchange of views and thoughts."

"Questions addressed included: How do payments markets differ from other markets? How do consumer preferences impact industry outcomes? Are payments markets sufficiently competitive and safe? If not, what private and public policies would be beneficial? Should central bank policies to ensure smoothly-functioning payments systems be adapted in light of the dynamic changes underway? More specifically, what role should central banks play as operators and overseers in the retail payments system of the future."

New Inside Fraud Report for Europe Now Available

PCM_FRAUD_Supplement_1109.jpgAn updated version of "Inside Fraud" published by Payments, Cards and Mobile and sponsored by Visa Europe is now available online.

The report finds significant variations in losses between France, Netherlands, Spain and UK with losses much higher on internet and international transactions. The report suggests there is an "urgent need to complete roll-out of EMV and continue implementation of online security measures."

Taking Visa Europe’s figures as a barometer for the region as a whole, card fraud losses fell from 0.07% (7 basis points) of card turnover in 2007 to 0.06% in 2008. But comparing national figures for France, Spain, Netherlands and the UK, losses ranged from fewer than 3 basis points of card turnover in Spain to 10 basis points in the UK.

Further, the picture is not static. In Holland, which historically had one of the lowest levels of card fraud in Europe, the loss rate has risen almost threefold during the last four years. With Dutch debit card transactions still 100% based on magnetic-stripe cards, losses continue to rise due to skimming. In contrast, UK figures for first half of 2009 show total card fraud losses down 23% to £232.8 million.

You can download the full report here.

MasterCard Launches Authentication Program for Mobile Devices

MasterCard has announced the launch of a solution that harnesses the mobile phone as a form factor for its Chip Authentication Program. According to MasterCard," the initiative focuses on enabling consumers to authenticate their banking and online transactions through their own mobile phone with solutions from three leading industry vendors." READ MORE »

MasterCard Launches MasterCard Mobile Payments Gateway

MasterCard has announced the MasterCard Mobile Payments Gateway, a mobile payments processing platform that the company says "enables financial institutions and mobile network operators to deliver end-to-end mobile payments solutions through the MasterCard Worldwide Network." READ MORE »

ViVOtech Launches ViVOtag Stickers, ViVOapps Coupon Software

vivotech-logo.gifViVOtech has announced the launch of its ViVOtag sticker solution and its backend ViVOapps mLoyalty redemption software designed to "enable merchants to deliver targeted and engaging mobile advertising, marketing and loyalty programs to customers’ existing mobile phones." READ MORE »

Pentagon Federal Credit Union to Issue American Express Cards

Pentagon Federal Credit Union (PenFed) and American Express have announced a strategic new partnership under which PenFed will issue American Express-branded credit cards. The new PenFed Premium Travel Rewards American Express Card will carry the American Express logo and will be accepted on American Express' global merchant network.

According to the two companies, PenFed and American Express have an exclusive arrangement under which, for a limited time, PenFed will be the only credit union to issue an American Express-branded card in the United States. READ MORE »

Visa Opens New Data Center in the U.S.

visa_logo-140px.jpgVisa Inc. has announced the opening of a new global data processing center in North America. Concurrently, Visa says it has implemented several IT enhancements, chief among them the implementation of a new operating system that underpins VisaNet, its global transaction processing network. According to Visa, "these technology investments further enhance the flexibility, reliability and scale of VisaNet, and increase Visa’s ability to process the ever-growing number of increasingly complex electronic payments around the world, which now account for 33 percent of global consumer spending." READ MORE »

Amex Finds Consumers More Joyful Than Gloomy with Plans to Give

AmericanExpress_logo-140px.jpgA new survey from American Express reports that 10 percent of consumers actually intend to open their wallets and spend more on holiday gifts relative to last year and 43 percent plan to spend about the same. In the next 30 days, more than one in five U.S. consumers (22%) expect to spend more when compared to the last 30 day period.

The latest American Express Spending & Saving Tracker, the third in a monthly series, reports about consumers’ views on the economy, what they plan to spend on and what motivates them to spend or save. The research sample of 2011 adults included the general U.S. population, as well as two subgroups – the affluent and young professionals. READ MORE »

Fed Proposes Rules on Gift Cards re: Fees, Expiration Dates

FederalReserve-130px.jpgThe Federal Reserve Board has announced proposed rules that it says "would restrict the fees and expiration dates that may apply to gift cards. The rules would protect consumers from certain unexpected costs and would require that gift card terms and conditions be clearly stated." See the highlights of the proposed rules. READ MORE »

Gemalto Unveils World’s First Bio-Sourced Degradable Smart Cards

Gemalto_logo-140px.jpgGemalto has launched the world’s first bio-sourced degradable smart cards. According to the company, "the card body is made from renewable material, is easily recyclable and compostable, and can be incinerated without emissions of toxic fumes. Additionally, Gemalto offers packaging made from recycled paper and vegetable inks that significantly reduce the product’s environmental impact. Gemalto’s bio-sourced smart cards will be ready for mass production in the first quarter of 2010." READ MORE »

MasterCard Launches MasterCard Priceless Gift Finder

MasterCard Logo.jpgMasterCard Worldwide has announced the launch of the MasterCard Priceless Gift Finder, a new online tool MasterCard says is "designed to drive e-commerce by helping online shoppers find the perfect gift this holiday season. Using the MasterCard Priceless Gift Finder, online shoppers can choose the price range they want to spend and the personality of their gift recipient. The Gift Finder then displays appropriate gift selections, along with ratings and reviews from Amazon.com. Purchases can be made at Amazon.com directly through the Gift Finder." READ MORE »

Tempo Powers New Dogster & Catster Affinity Debit Cards

Tempo_logo-140px.jpgDogster, Inc., creator of the web destinations Dogster and Catster, has announced it is now offering affinity debit cards that members can personalize with a photo of their pet that are enabled by Tempo’s Web-based debit card platform. READ MORE »

touchatag, Clear2Pay partner For Mobile Payment Framework

Alcatel-Lucent has announced a collaboration between its venture, touchatag and Clear2Pay to create a mobile payment framework for mobile operators. According to the companies, "this framework will allow users to purchase products, buy tickets or transfer money using their mobile phone. For example, by placing a Near Field Communications (NFC) enabled mobile phone over scanners at a point-of-sale terminal, a user can use his phone as a wallet." READ MORE »

Ingenico Announces £13M Agreement with HSBC Merchant Services

Ingenico_logo-140px.jpgIngenico and HSBC Merchant Services have announce that they have extended their partnership and will be working together on a four year deal worth £13m. Ingenico was chosen by HSBC Merchant Services to supply its merchants with advanced services, including 37,000 new payment terminals within the UK. READ MORE »

Discover Offers Extra Cash Rewards This Holiday Season

Discover_logo-140px.jpgDiscover has announced a variety of ways that "Discover Cardmembers can take advantage of extra cash rewards when shopping this holiday season, including the opportunity to earn Double Cashback Bonus on all online purchases, as well as at department stores, jewelry and apparel retailers." READ MORE »

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