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« March 28, 2010 - April 3, 2010 | Main | April 11, 2010 - April 17, 2010 »

April 09, 2010

Cimbal Launches Private Beta of Mobile Payment System

Earlier this week, Sunnyvale, California-based Cimbal announced the launch of a private beta for merchants and customers. According to the company, "Cimbal is an entirely software-based solution which does not require any additional hardware for consumers or merchants to process electronic payments. A smartphone with a camera for the consumer and a software update for the point-of-sale system at the store is all that's needed to pay with Cimbal." READ MORE »

First Data SpendTrend for March Shows Consumer Spending Coming Bank

First Data Corporation has released its First Data SpendTrend™ analysis for the full month of March 2010. SpendTrend tracks same-store consumer spending via credit, signature debit, PIN debit and EBT cards at U.S. merchant locations.

According to the company, "consumer spending made a comeback in March. Same-store dollar volume and transactions increased at their highest rate in two years, marking the first double digit growth since first quarter 2008. Dollar volume growth was 11.5% (10.2% excluding Gasoline Stations) and transaction growth was up 10.1% (9.8% excluding Gasoline Stations), up from 8.4% and 6.9%, respectively, in February. Several key factors contributed to the growth including a 10.0% increase in tax refunds, stabilized unemployment and early Easter spending."

A copy of the full report is available online.

Is Global eCommerce Really Such a Dark and Scary Place?

Are you an online merchant looking to sell your stuff globally? In a PaymentsViews.com post titled "Is Global eCommerce Really Such a Dark and Scary Place?", Glenbrook's Jay DeWitt writes that "it seems that U.S. merchants have an incredibly difficult time answering these questions… and good resources (other than Glenbrook!) are few and far between."

Jay says it's important that payment service providers "finally realize that it is much more effective to sell their services by educating merchants and selling on the strength of their offerings - rather than keeping things dark and scary and selling on merchant’s trepidations."

Are you seeking to expand your ecommerce efforts globally? Contact Jay!

Headline News - April 9, 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.

April 08, 2010

Introducing MasterCard Marketplace

mcmktplace.jpgIn an article titled "MasterCard Set to Open an Online Shopping Mall", Andrew Martin writes for the New York Times about MasterCard's plans to introduce "a Web shopping mall on Monday that it says can pinpoint with considerable accuracy what its cardholders are likely to purchase." Martin goes on to note that the mall is powered by technology provided by Next Jump.

Over on TechCrunch in an article titled "Next Jump Takes Over MasterCard’s New Rewards Program, MasterCard MarketPlace", Erick Schonfeld writes that "Next Jump takes an algorithmic approach to reward both good shoppers and good deals."

Click here to view MasterCard MarketPlace.

Apple Introduces iAd Advertising Platform for iPhone, iPad

Earlier today, Apple held an announcement event in Cupertino for version 4.0 of its iPhone OS - scheduled for availability later this summer.

Among the many new features for end-users and developers is a new mobile advertising platform that Apple is calling iAd. iAd provides application developers with a way to integrate a powerful advertising revenue stream right into their applications - and to receive a majority of the revenue from the advertising. To learn more about iAd, watch this video of today's announcement event - the iAd discussion begins about 44 minutes into the video.

What are the implications of this for financial services players? Do you have a mobile application strategy? If so, have you thought about whether advertising is a component of your app - or not?

You can bet that the most innovative financial services mobile app developers will be focusing on the new iAd capability as 4.0 nears launch this summer. Whether incumbents do - or not - will be fascinating to watch!

Offerpal Media Introduces New Direct Payment Options Worldwide

Offerpal Media has announced that it has integrated several new direct payment options into its platform in order to help social developers and online game publishers accept payments from users who do not have or are unwilling to use credit cards. The new payment options include pre-paid debit cards, phone cards, e-payment systems, parent-approved payments and more, from such partners as Zeus Research and STi Prepaid, paysafecard, MyCard, Rixty, BillMyParents, ClickandBuy and others—covering nearly 200 countries in all. READ MORE »

Steve Boehm Joins First Data's Financial Services Division

First Data Corporation has announced that Steve Boehm has joined the company as senior vice president leading global product management and innovation for First Data’s Financial Services division. READ MORE »

Gemalto Acquires Todos

Gemalto has announced that it has completed the acquisition of Todos AB from investors led by 6AP, a fund belonging to the Swedish National Pension system. Terms of the transaction were not disclosed. Headquartered in Gothenburg, Sweden, and employing 80 people worldwide, Todos AB is a provider of strong authentication solutions for internet banking. READ MORE »

April 07, 2010

NACHA Reports 18.76 Billion ACH Payments in 2009, up 2.6% Over 2008

NACHA has reported that ACH payment volume increased by more than 475 million transactions in 2009, bringing year-end total transaction volume to 18.76 billion, a 2.6 percent increase over 2008 activity.

According to NACHA, "year-over-year comparisons demonstrated strong volume increases in ACH native electronic payments — Direct Deposit, consumer Internet transactions, and B2B transactions — and in back office check conversion. In addition, NACHA is reporting a continued positive trend in risk mitigation, witnessed by the ongoing decline in the unauthorized debit volume." READ MORE »

Best Practices for Managing Cardholder Dispute, Chargeback Processes

TSYS has published a new white paper titled "Risky Business: Best Practices for Managing Cardholder Dispute and Chargeback Processes in Challenging Times" by Robert Hadden. The paper discusses how card issuers can better use chargeback and dispute processes to have a "significant positive impact on customer relations."

Over One Million Downloads of PayPal's Mobile iPhone App

PayPal has announced that its PayPal Mobile iPhone app has been downloaded over one million times in less than three weeks since it was released on March 15, 2010. The application is available as a free download from the Apple iTunes store online or the Apple App Store from any iPhone or iPod Touch. For more information on PayPal Mobile, visit https://www.paypal.com/mobile. READ MORE »

Headline News - April 7, 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.

April 06, 2010

Who Are You - Incumbent or Innovator?

Yes, you! I'm asking you a question! Who are you?

See my PaymentsViews.com post: "Are You an Incumbent – or an Innovator?"

Mocapay Brings Mobile Payments to Denver's Daniels College of Business

The University of Denver's Daniels College of Business has announced that its School of Hotel, Restaurant and Tourism Management (HRTM) has entered into a strategic partnership with Mocapay to enable students to use their mobile phones to make purchases at Beans, the school's student run coffee shop. READ MORE »

Serving the Short-Term Credit Needs of Low-Income Consumers

The Center for Financial Services Innovations has published a new research paper titled "How Should We Serve the Short-Term Credit Needs of Low-Income Consumers?". From the abstract: "Well-structured credit is essential to support a household’s ability to save, build a considerable credit history, and to facilitate crucial investments that can provide a foundation for other wealth-building activities. Unfortunately, there is a shortage of high-quality, small-dollar, short-term credit products in the marketplace today that help consumers to accomplish these goals. This paper explores the challenges these types of products face in order to identify business strategies and public policies that support the development of an efficient marketplace for premium short-term credit."

Visa SavingsEdge Small Business Savings Program Expands

Visa has announced additional companies joining Visa SavingsEdge, Visa’s small business savings program, including Staples, Orbitz, USA TODAY, La Quinta Inns & Suites and Box.net. Visa SavingsEdge is available to cardholders of participating issuers who enroll by registering their card at: http://www.visasavingsedge.com. READ MORE »

April 05, 2010

Adyen Enters US Market for Internet Payment Solutions

Adyen, a Netherlands-headquartered payments processing company started by the founders of Bibit, has announced the expansion of the company to the U.S. marketplace. Adyen executives include Chief Executive Officer, Pieter van der Does; President of North America, Peter Caparso; Chief Commerce Officer, Roelant Prins; and Chief Technology Officer, Arnout Schuijff. READ MORE »

Manilow Fund Uses Tempo's Affinity Debit Platform

Tempo has announced that its affinity debit platform is being utilized by the Manilow Fund for Health and Hope to provide donors with debit cards that support the Barry Manilow-created nonprofit organization’s campaign to save public school music programs “one swipe at a time.” Each time a Manilow Fund for Health and Hope debit card is used to make a purchase, the organization will receive a portion of standard transaction fees, utilizing cardholders’ purchasing power instead of out-of-pocket money to increase the Fund’s revenue. Proceeds will be used by the Manilow Fund for Health and Hope’s Manilow Music Project to put musical instruments into the hands of public school students across the U.S. READ MORE »

Headline News - April 5, 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.

April 04, 2010

Social Payments: A Model for Evaluating

In a post titled "Glenbrook’s Model for Social Payments (A Work in Progress)", Glenbrook's Russ Jones writes on PaymentsViews.com about social payments - what they are and what they aren't!

Russ Jones - Glenbrook Partners
Russ writes:

I’ve concluded that for something to be a social payment, it’s got to be social. It’s got to involve multiple parties paying at once. Or multiple parties being paid at once. Or one party buying and another party paying. On and on."

Plan to join Russ and Glenbrook's Erin McCune for a session titled “Web 2.0 and the Emergence of Social Payments” at the upcoming NACHA Payments 2010 conference in Seattle. Glenbrook will also be exploring this topic in an upcoming webinar - Social Payments – Scenario Analysis - that will be held May 5th, 2010. Registration is now open.

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