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March 26, 2010

Headline News - March 26, 2010

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.

March 25, 2010

UK Payments Council Provides Online Tool to Check Payment Options

The UK Payments Council has "relaunched its Sort Code Checker online tool, extending it beyond Faster Payments to cover Bacs, CHAPS, cheques and paper credits. By inputting the sort code of the account a payment is being sent to, a customer can see whether the account can receive a Faster Payment, Bacs Credit or CHAPS payment. Customers will also be able to see if an account allows a Direct Debit instruction to be set up and if a cheque or paper credit can be paid into the account through the clearings. The Checker, which stores all the UK’s 20,000 sort codes, can be found on the UK Payments website." READ MORE »

Headline News - March 25, 2010

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.

March 24, 2010

GlobalPlatform Launches Trusted Service Manager Working Group

GlobalPlatform has announced a new Trusted Service Manager (TSM) Working Group within its Systems Committee. "Created in response to market demand, the group will focus initial activity on specifying a standard language to facilitate communication between TSMs operating within the banking sector and mobile network operators (MNO)." READ MORE »

Headline News - March 24, 2010

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.

March 23, 2010

The Adirondack Trust Company Offers Mobile Payments from Bling Nation

In its first east coast community deployment, Bling Nation has announced that Saratoga Springs, N.Y.-based The Adirondack Trust Company is actively offering mobile payments to its customers and community. READ MORE »

Fed Finalizes Rules Restricting Fees, Expiration Dates on Gift Cards

he Federal Reserve Board has announced final rules to restrict the fees and expiration dates that may apply to gift cards. According to the Fed, "the rules protect consumers from certain unexpected costs and require that gift card terms and conditions be clearly stated. The final rules prohibit dormancy, inactivity, and service fees on gift cards unless: (1) the consumer has not used the certificate or card for at least one year; (2) no more than one such fee is charged per month; and (3) the consumer is given clear and conspicuous disclosures about the fees. Expiration dates for funds underlying gift cards must be at least five years after the date of issuance, or five years after the date when funds were last loaded." READ MORE »

Wells Fargo, Visa Launch Rapid Alerts for Credit Cards

Wells Fargo and Visa have announced the launch of Rapid Alerts for Wells Fargo Visa credit cardholders - a free service that "allows consumers to better manage and track their spending while providing them with near real-time detection of potentially fraudulent activity." READ MORE »

Rentalic Wins PayPal X Developer Challenge

PayPal has announced the winners of the PayPal X Developer Challenge, a competition launched at PayPal’s Innovate 2009 developer conference last fall to encourage the creation of innovative businesses using the PayPal X global payments platform.

Rentalic, a person to person rental marketplace, took the top prize of $100,000 ($50,000 in cash and $50,000 in waived processing fees). Appbackr, a wholesale marketplace for iPhone applications, won $50,000 ($25,000 cash and $25,000 in waived processing fees). READ MORE »

Headline News - March 23, 2010

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.

March 22, 2010

The CARD Act and Credit Counselers

In an article titled "A Less-Noticed Challenge in the CARD Act", Maria Aspan writes for the American Banker about a provision included in CARD Act that recently took effect requiring credit card issuers to "refer cardholders to federally sanctioned counseling agencies." Aspan writes that "now that issuers have to comply, many are doing what they can to avoid creating the impression of favoritism."

Verizon Wireless to Launch Danal's BilltoMobile™ Payment Service

Verizon Wireless and Danal have announced that "Verizon Wireless plans to launch Danal's BilltoMobile™ payment service later this spring, enabling Verizon Wireless customers to charge online purchases of digital goods directly to their monthly Verizon Wireless bills. Verizon Wireless customers will be able to pay for online content and digital goods that are downloaded and consumed on their personal computers from Danal's participating network of popular eCommerce merchant partners." According to the two companies, at launch the service will impose a $25/month spending limit on purchases. READ MORE »

21st Annual Direct Response Forum - Aug 9-11, 2010 - Memphis, TN

The Direct Response Forum (DRF) has announced it will hold its annual forum on Monday August 9th through Wednesday August 11th, 2010 at the Peabody Hotel in Memphis, TN. According to the DRF, "this year’s forum, Payment Passion Rocks in Memphis, will provide a variety of educational sessions designed to give card-not-present merchants real-time strategies for streamlining payment processes and cutting costs." READ MORE »

Headline News - March 22, 2010

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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