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« August 23, 2009 - August 29, 2009 | Main | September 6, 2009 - September 12, 2009 »

September 04, 2009

Checks and Acceptance Hassles

Speaking of debit cards, here's a blog post on the Consumer Reports blog about the hassles of using a check. You remember them, right?

More History on Check Cards

Paul Tomasofsky writes this morning about our "Note on Check Cards" post late yesterday:

Today I noticed your short sardonic statement about Check Cards and Debit Cards. You make a great point that it seems the name is starting to shift around.

However, I must make a correction. The early days of Visa Check Cards were actually the early 1980’s and not the 1990’s.

I was a witness to these early days. In fact, in the spring of 1982 I served on a VISA Advisory Panel that actually met in Florida to discuss what to name this new product. We studied lots of VISA consumer research that showed how much consumers back then really hated the word “debit.” In the end, “Check Card” became the name.

In addition, in the fall of 1982, I led the team at the then First National Bank of Maryland that issued 150,000 VISA Check Cards to our DDA base."

Taggo - NFC for Retailers, Cardless for Consumers

Aneace Haddad sends word this morning of his new venture Taggo - with the tagline "Go cardless, go Taggo!" For more, see his blog post "Taggo’s first VAR partnerships are about to bring new NFC capabilities to retailers across the Asia-Pacific region".

Headline News - September 4, 2009

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.

September 03, 2009

A Note about Check Cards

Back in the early days of debit cards in the early 1990's, Visa pioneered the term Check Card for its debit card product.

More recently, it's been emphasizing Visa Debit as the product's name - transitioning away from the original Check Card branding.

Ironically, today's Wall St. Journal had a headline that read "Wal-Mart to Pay Via Check Cards". No, not via Visa Check Cards - but, rather, MasterCard Debit Cards.

Best Practices for Promoting Consumer Use of Contactless Payments

The Smart Card Alliance's Contactless and Mobile Payments Council has published a new research paper titled "Issuer and Merchant Best Practices: Promoting Contactless Payments Usage and Acceptance" that identifies issuer and merchant best practices for driving consumer use of contactless payments. READ MORE »

eBillme Launches Walk-in Network for eCommerce Checkout

eBillme_logo-140px.jpgeBillme has introduced eBillme Walk-In, a new way for consumers to shop online and pay with cash, without having a credit card or even a bank account. The company has partnered with providers including MoneyGram International to assemble what it calls "the largest network of U.S. based walk-in locations with the lowest transaction fee." READ MORE »

New on PV: First Data and Mobile Payments at the Point of Sale

PaymentsViews_logo-140px.jpgIn an article titled "Getting the Garden Ready: First Data and Mobile Payments at the Point of Sale" over on our sister Payments Views blog, Glenbrook's Carol Coye Benson takes a look at mobile payments for local point-of-sale transactions and, in particular, First Data's efforts in that regard.

In preparing the article, Carol interviewed Barry McCarthy, President, Mobile Commerce Solutions for First Data, who discussed the four key pieces required for mobile payments at POS: the upgrade of the POS terminal base, availability of NFC-enabled phones, card issuer participation, and consumer education.

Walmart Launches Electronic Pay Program with MasterCard, First Data

FirstData_logo-140px.jpgWalmart, MasterCard Worldwide and First Data have announced a "new, more sustainable payroll program designed to reduce the number of paper paychecks and pay stubs distributed each year to Walmart and Sam’s Club associates in the U.S. In order to benefit both associates and the environment, the electronic pay program will include the deployment of the Money Network™ MasterCard Paycard® and electronic pay stubs, which will cut down on paper consumption and provide associates easier access to their wages." READ MORE »

September 02, 2009

Priceless: The Case that Brought Down the Visa/MasterCard Bank Cartel

Attorney Lloyd Constantine of Constantine Cannon has a new book coming out in early October titled "Priceless: The Case that Brought Down the Visa/MasterCard Bank Cartel".

From the advance material on the book:

415fpeqe2TL._SL160_.jpgPriceless offers readers an insider’s telling of the case that ended with the breakup of the Visa/Mastercard credit cartel and a $3.4 Billion settlement. Lloyd Constantine, founder of Constantine and Partners, the small boutique antitrust firm that could, and lead counsel on the Visa/Mastercard case, takes no prisoners as he tells his side of what happened in this very public lawsuit whose outcome continues to affect economics today."

Priceless is now available for pre-order from Amazon.com.

Glenbrook Payments Boot Camps - Reminder

Here's a quick reminder that Glenbrook's Fall 2009 Payments Boot Camp series is about to begin with the first session being held in New York City on September 23-24.

This fall's series will have an expanded focus on Mobile Payments - and will introduce Glenbrook's Mobile Payments Market Map. Click here for more information about this popular series.

Juniper Forecasts $30 Billion in NFC Mobile Payment Volume by 2012

A new report from Juniper Research "forecasts that the application of NFC as a mobile retail marketing tool via coupons and smart posters will support the growth of NFC mobile payment transaction values from $8bn in 2009 to $30bn within three years." READ MORE »

More Citi Card News

Maria Aspan reports in this morning's American Banker that Citigroup "is shutting down the cobranded cards it issues for a prominent retail partner, Home Depot Inc."

September 01, 2009

Amex Launches New Charge Card Marketing Campaign

American Express has announced the launch of a new, integrated marketing campaign that Amex says "brings to life the benefits of the American Express Charge Card under the theme “Don’t Take Chances, Take Charge.” Breaking in newspapers today, the campaign also includes television, magazine, radio and online advertising, which will roll out in the weeks to come. The campaign is part of an ongoing effort to educate consumers about the Charge Card and explain why it is a smart way to pay, particularly in the current economic environment." READ MORE »

Fifth Third to Offer mPay Gateway's Patient Payment System System

Fifth Third Processing Solutions has announced that it has entered into an agreement to provide a patient payment system from mPay Gateway to its physician practice customers. According to the company, "mPay Gateway's software solution enables health care providers to calculate the patient's share of a bill for service and obtain payment authorization before a patient leaves the office, eliminating billing hassles and reducing bad debt by up to 50 percent. The patient is actually charged only after the health care provider settles with the insurance company." READ MORE »

A Look at London's Oyster Card

ReadWriteWeb takes a look at London's Oyster card, the RFID smart card used for electronic ticketing on London's public transport services.

Beyond Games - A Look at Payfone

Over on PaymentsViews.com, Glenbrook's Carol Coye Benson takes a look at mobile payments provider Payfone.

"Instead of using SMSs and short codes like ringtone merchants and existing bill-to-carrier payment providers, Payfone operates within the carrier signaling network, a global network that allows carriers to communicate and exchange information between each other." Read the full article here.

Fees, Rates Drive Decline in Credit Card Customer Satisfaction

Driven by a significant decrease in satisfaction with fees and rates, overall credit card customer satisfaction has declined to a three-year low, according to the J.D. Power and Associates 2009 Credit Card Satisfaction Study released today.

"The study finds that overall credit card customer satisfaction decreases to 703 on a 1,000-point scale—the lowest level since the study’s inception in 2007. Overall satisfaction among credit card customers remains the lowest across the financial services industries in which J.D. Power and Associates conducts research, including insurance, banking and investment services." READ MORE »

BOKU Bulks Up - New Merchants/Publishers Sell Using BOKU

BOKU has announced new merchants and publishers who have selected BOKU for its convenient, bank-grade payment solution - spanning the social and casual gaming, social networking and application spaces. According to the company, its service allows over 1.8 billion potential consumers to shop online and purchase virtual goods and digital content easily and securely using their mobile phone. READ MORE »

Headline News - September 1, 2009

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.

August 31, 2009

Glenbrook Survey: Tokenization/Encryption Providers for Merchants

Glenbrook is looking for more information about providers who are providing tokenization and/or encryption products/services to merchants to help them reduce the scope of their PCI-DSS compliance obligations?

Last week, several companies responded to our Twitter tweets and LinkedIn status asking for more information - if you've already responded via email, there's no need to do so again!

But, If your company does provide tokenization/encryption services and hasn't already responded, then please do respond to this survey and tell us more about your offering. You can click "Read More" to answer our mini-survey or click here to open a fresh copy. READ MORE »

Citi Sells Three Card Portfolios - Reportedly to US Bank

Maria Aspan reports for American Banker this afternoon that Citi Holdings has sold $1.3 billion of managed card portfolios to US Bank. She reports that the portfolios were associated with KeyCorp, Associated Banc-Corp, and the affinity card portfolio for the American Dental Association.

Earlier, Floyd Norris of the New York Times posted a commentary about Citi's earlier press release announcing the sale - calling it the "least informative announcement." He said that "I can’t remember a deal announcement when a company said it had sold undisclosed assets to an undisclosed buyer for an undisclosed price, resulting in an undisclosed profit or loss."

NFC Forum, Mobey Forum Collaborate on Mobile Payment Standards

The NFC Forum and the Mobey Forum have announced a Memorandum of Understanding to "work together to further ongoing efforts to create open standards that enable the delivery of services that provide secure and interoperable mobile financial transactions." READ MORE »

Tim Hortons Now Accepts MasterCard PayPass Contactless Cards

MasterCard has announced that Tim Hortons, one of North America's largest quick service restaurant chains, is now accepting MasterCard PayPass at more than 400 U.S. locations. Tim Hortons first began accepting MasterCard PayPass in many of its 3,000 stores in Canada in 2007. READ MORE »

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