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August 31, 2010

Blackhawk Network Expands Prepaid Reload Network

BlackhawkNetwork_logo-140px.pngBlackhawk Network today announced a new Reloadit Pack that gives prepaid card consumers "a safe and easy alternative to using cash to reload and transfer funds onto Blackhawk Network and third party partners' prepaid debit cards." From the www.reloadit.com website or companion IVR consumers simply provide the prepaid card account number and Reloadit Pack scratch off number to transfer the purchased load amount to the prepaid card.

46% of Bank Customers in US Choose Overdraft Protection

survey_graphic.pngA new survey commissioned by the ABA shows 46% of bank customers report they did - or will - opt in to their bank's overdraft program, saying they are willing to pay a fee for the service to ensure that debit card transactions will be approved even if their account is overdrawn. Prior to the new federal regulations (effective 8/15/2010) no permission was required to provide and charge customers for overdrafts.

Inc. Magazine Names Top Private 'Payments' Companies

Inc_magazine_top_500.pngInc. Magazine is out with its annual list of fastest growing private companies in the U.S. In the world of ISOs, Century Payments is ranked #11 (and they are delighted) with 10471% growth over the last three years. Central Payment, Electronic Data Payment systems, Electronic Payments, Gravity Payments, Nationwide Payment Solutions, Payment Alliance International, Payment PRocessing, PaymentMax, and United Payment Services also make the list.

It's also fun to finally see some revenue numbers of otherwise private companies. PlaySpan is ranked #752 (with $11.1M in 2009 revenue) and Vindicia (who is also delighted) is ranked #1,068 (with $4.4M in 2009 revenue). Let us know if you spot any other interesting payments companies.

August 30, 2010

Eight out of Ten US Consumers Shop Online at Least Once a Week

survey_graphic.pngCompete recently released the findings of its quarterly Online Shopper Intelligence Study, revealing that 83% of consumers are shopping online at least weekly. The Q2 report was compiled from a survey of 3,119 online purchasers between May and July 2010. READ MORE »

Atos Origin Acquires Leading Indian Payments Processor

atos_origin_logo_140px.gifAtos Origin today announced the acquisition of Venture Infotek, the leading independent player in the Indian payments market. Created in 1991, Venture Infotek operates in merchant acquiring, card processing, loyalty programs, government benefits programs on behalf of the Indian banks and major retailers. Venture Infotek operates in the major cities of India.

Headline News: August 30, 2010

Headline News is brought to you by Glenbrook Partners:

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

August 27, 2010

Women Networking in Electronic Transactions

Women Networking in Electronic Transactions (W.net) will be holding their 2010 Designer BootCamp, Friday, October 15, 2010 in San Diego, following the Western States Acquirer’s Association’s Annual Meeting. Billed as a leadership and career development summit, the Designer BootCamp will focus on developing the professional skills of women in the electronic payments industry. W.net has chapters established across the country with upcoming events in Northern California and New York.

Headline News - August 27, 2010

Headline News is brought to you by Glenbrook Partners:

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

August 26, 2010

mFoundry Platform Crosses One Million User Mark

mfoundry_logo_140px.pngmFoundry today announced that based on its nearly banking 200 customers, the use of its mobile banking platform now exceeds the one-million user mark.

"While there are some reports indicating that mobile banking growth is slowing, our experience is the complete opposite," commented Sievers. "Over the past nine months, we've seen an average of 10 to 15 new customer signings per month across our direct and channel sales efforts. User adoption is also scaling rapidly with average sequential monthly growth of more than 10%, or nearly 300% annual growth."

STAR Network Unveils STAR CertiFlash

STAR_logo-140px.pngThe STAR Network recently announced STAR CertiFlash, a new PIN debit application that advances POS security using one-time card number technology. The STAR CertiFlash technology is programmed onto a contactless chip embedded within a payment device. For each transaction, the chip encrypts and transmits a card number that is good for only a single use.

Intuit and mophie Team Up for Mobile POS Acceptance

intuit_logo-140px.jpgIntuit and mophie have announced the availability of an iPhone-based card acceptance solution that combines Intuit’s GoPayment credit card processing app with the mophie marketplace iPhone credit card reader. This integrated solution is now available in Apple Retail Stores and soon on Apple.com.

Marketplace Checkout Services

ebay_logo_140px.pngeBay recently announced that next month they will be expanding their own eBay shopping cart to include support for more gateways, more shipping flexibility, and more sales tax functionality. At the same time, they are also banning third-party shopping carts from their marketplace effective in mid-2011. In related news, Etsy also announced an expanded checkout that better supports sales tax collection in the Etsy marketplace.

Headline News - August 26, 2010

Headline News is brought to you by Glenbrook Partners:

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

August 25, 2010

Experian To Help Lenders WIth Risk-based Pricing Regulations

experian_logo_140px.pngExperian has announced a comprehensive offering of products and services to help clients comply with consumer notification requirements related to the new Risk-Based Pricing Rule. This is in response to the Federal Trade Commission and the Federal Reserve Board mandates that, effective Jan. 1, 2011, lenders must send consumers a Risk-Based Pricing Notice if the lender does not provide the consumer with the most favorable rate.

Alipay and iPay88 Form Strategic Partnership in ePayments

alipay_logo_115px.pngiPay88, a large eCommerce platform in Malaysian, and Alipay, China’s leading online payment service, have announced a strategic partnership. Under the agreement, Alipay will be able to provide its users with the ability to purchase goods from more than 2,000 Malaysian merchants who use iPay88, and iPay88 merchants will have access to Alipay’s more than 300 million registered users in China.

Fiserv Launches Remote Deposit Capture Solution

fiserv_logo.gifFiserv today announced the launch of Mobile Source Capture, a new remote deposit capture solution that extends the convenience of remote check capture to camera-equipped mobile phones. Mobile Source Capture leverages best of breed Mobile Deposit® technologies from Mitek Systems, Inc.

Credit Card Delinquencies Continue to Fall in 2Q

TransUnion_logo-140px.jpgAverage consumer credit card balances in the U.S. are the lowest in eight years, according to TransUnion's quarterly analysis of trends in the credit card industry. The 2Q Credit Card Quarterly Statistics show that the national credit card delinquency rate (the ratio of bankcard borrowers 90 days or more delinquent on one or more of their credit cards) decreased to 0.92% in 2Q2010, down 17.1% over the previous quarter. Year over year, credit card delinquencies fell by 21.3%.

August 24, 2010

POSB Bank in Singapore Launches Dual Debit/Credit Card

Multi-tude_by_POSB.jpgPOSB recently announced that has launched the first card in Singapore to feature both debit and credit functions on a single card. The Multi-tude card is EMV enabled, works at the ATM with a PIN, or can be used on online via NETS. At the point of sale, EMV readers facilitate the selection of credit or debit.

Visa Provides Guidance on Secure Payment Applications

visa_logo-140px.jpgVisa recently announced global industry best practices for payment application vendors, integrators and resellers that implement, install or manage payment-related systems on behalf of merchants. The best practices developed by Visa in collaboration with the SANS Institute are designed to complement the Payment Card Industry (PCI) Payment Application Data Security Standard (PA-DSS).

hyperWALLET Announces International Prepaid Card Services

hyperwallet_logo_140px.pnghyperWALLET recently announced it was expanding its global prepaid card services for businesses, governments and NGOs who need to manage unbanked or temporary beneficiaries programs in multiple currencies and languages. The company is accepting immediate orders for programs requiring USA, Canadian, and Mexican card services, with availability for Asian jurisdictions slated for Q1, 2011.

Headline News - August 24, 2010

Headline News is brought to you by Glenbrook Partners:

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

August 23, 2010

Blackhawk Network Announces New Prepaid Products

BlackhawkNetwork_logo-140px.pngBlackhawk Network today announced a new brand of prepaid products called PayPower.

PayPower is a suite of prepaid products and services designed to help consumers stay in control of spending with simple and safe solutions that provide value, transparency and budgeting. The suite of products is targeted to consumers looking for alternatives to traditional financial credit, whether for everyday use, travel, online purchases or simply to pay a bill. Consumers can turn their cash into a debit card at thousands of retailers nationwide and easily reload through Blackhawk's vast reload network.
PayPower cards are Visa-branded and can be used wherever Visa Debit cards are accepted.

Personal Financial Management Tool Usage Trails Consumer Interest

fiserv_logo.gifA recent study conducted by Fiserv shows that consumers are very interested in personal financial management (PFM) tools. But, while interest in PFM is high, actual usage remains quite low.

Nearly 40%of the consumers surveyed indicated that PFM tools would be beneficial to managing their finances, yet only 15% of consumers had used a PFM service in the past 90 days. Of the subset of respondents who had used a PFM service in the past 90 days, an overwhelming majority said they did so from online banking sites (68%), more than double the percentage that reported using the top named traditional personal financial management software.

A Look at Financial Reform, the Consumer Protection Act, and Debit Regulation

FirstDataCorp_logo.jpgFirst Data's Public Affairs organization has put together a Special Edition of VantagePoint that nicely summarizes all the recent payments-related regulatory changes in the U.S. There first of the two PDF downloads includes a summary of the recent debit regulation.

Headline News - August 23, 2010

Headline News is brought to you by Glenbrook Partners:

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

August 20, 2010

Headline News - August 20, 2010

Headline News is brought to you by Glenbrook Partners:

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

August 19, 2010

J.D. Power 2010 U.S. Credit Card Satisfaction Study

JDPower_logo-140px.jpgAccording to a new J.D. Power and Associates report, "Overall customer satisfaction with credit cards has rebounded from a three-year low in 2009, but professed loyalty continues to slip as skepticism that card issuers are focused on customers' best interests remains."

"Despite massive efforts by the credit card industry during the past year to educate customers about credit card terms as a part of the CARD Act, customers' grasp of those terms continues to be elusive," said Michael Beird, director of banking services at J.D. Power and Associates.
READ MORE »

Survey Finds 15% of Consumers Now Use Mobile Devices to Purchase

A recent study sponsored by Sterling Commerce and Demandware found that consumers are increasingly turning to mobile devices to serve their in-store shopping experience, but are concerned about security and ease-of-use.

The independent survey of 3,600 U.S. consumers reveals that 15% of consumers have used their mobile devices to make purchases. While nearly all (96.2%) of consumers surveyed own a mobile phone, just under half owned a smart phone, which are designed to deliver a more optimal shopping experience.
READ MORE »

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