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« July 25, 2010 - July 31, 2010 | Main | August 8, 2010 - August 14, 2010 »

August 06, 2010

Federal Reserve Reports Decrease in Consumer Credit

Fed.gifThe US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "Consumer credit decreased at an annual rate of 3-1/4 percent in the second quarter. Revolving credit decreased at an annual rate of 9-1/2 percent, and nonrevolving credit was about unchanged. In June, consumer credit decreased at an annual rate of 3/4 percent, revolving credit decreased at an annual rate of 6-1/2 percent, and nonrevolving credit increased at an annual rate of 2-1/2 percent."

RBS Worldpay Goes to Advent/Bain Consortium

RBSWorldPay_logo-140px.jpgRBS Group announced that it has "agreed to sell a controlling 80.01% interest in RBS WorldPay, its Global Merchant Services business, to a consortium of Advent International and Bain Capital for an enterprise value of up to £2.025bn. RBS will hold a minority stake in the new GMS group of 19.99%, as part of the agreement."

RBS WorldPay is Europe’s largest merchant acquirer and the fourth largest globally, operating in over 30 markets. READ MORE »

Headline News - August 6, 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 05, 2010

eCommerce Grew 39% in Latin America and the Caribbean in 2009

A recent study commissioned by Visa revealed that eCommerce grew by 39.2% in 2009 in Latin America and the Caribbean region, reaching US$21.8B. Various drivers contributed to regional e-Commerce growth, including changes in consumer behaviors, perception and demand; increased computer and broadband penetration and improvements in online security; expansion of key industries such as travel & tourism; as well as the addition of large-scale merchants, especially in Brazil.

It is forecasted that by the end of the 2011 year, the region will experience a 58% increase in e-Commerce, realizing a total of US$34.5B. READ MORE »

Cashless Vending Adoption Rates Accelerating

USA Technologies recently announced that the adoption of its cashless vending payment technology is accelerating.
The Company recently announced that it had increased the number of devices connected to its network by approximately 9,000 during the quarter ended June 30, 2010, bringing the total number of devices connected at June 30, 2010 to over 82,000, compared to approximately 52,000 as of June 30, 2009.
Various vending operators and bottlers have indicated that total sales revenue has grown by 15 percent per machine within a year or two after installing cashless payment terminals in that machine. READ MORE »

Europe’s First Launch of microSD-based Contactless Mobile Payments

visa_logo-140px.jpg Visa Europe recently announced that it is launching Europe’s first microSD-based mobile payment systems in Turkey with its technology partner, DeviceFidelity, and Akbank, one of Turkey’s leading retail banks.
Mary Carol Harris, Head of Mobile, Visa Europe said: "One of the key challenges to the success of mobile payments is the supply and availability of NFC handsets. Until a majority of mobile handsets offered in the market are supplied with integrated NFC, Visa is proactively working with innovators like DeviceFidelity and pioneers such as Akbank to harness the potential of new technologies. These solutions make the future of payment real today and are key to accelerating mobile payments in Turkey and across Europe."
In related news, Oberthur Technologies announced increased demand for its contactless sticker product, FlyBuy Sticker, with banks and issuers throughout the United States.

August 04, 2010

American Express Semi-Annual Financial Community Meeting

Amex_logo-140px-allenweinberg@hotmail.com,AW'a Mac.jpgAmerican Express earlier today held its second semi-annnual financial community meeting for investors and analysts. The speakers included:
  • Kenneth Chenault, Chairman and CEO
  • Bill Glenn, President of Global Merchant Services
  • Ed Gilligan, Vice Chairman and Head of Global Consumer, Small Business and Network Businesses
The webcast replay, supporting presentations, and relevant transcripts are all here.

Headline News - August 4, 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 03, 2010

MasterCard Announces 2Q2010 Financial Results

MasterCardWW-small.jpgMasterCard this morning has announced financial results for the second quarter 2010. The company reported gross dollar volume increased 8.5% on a local currency basis to $656 billion, cross border volumes increased 8.5% and processed transactions increased 0.1% compared to the same period in 2009, to 5.6 billion. A press release, supplemental operating results, and an accompanying investor presentation are available on the MasterCard website.

“We are pleased with our performance in the second quarter,” said Ajay Banga, MasterCard president and chief executive officer. “Solid GDV growth, particularly in markets outside the U.S., continued momentum in worldwide cross-border volumes, and thoughtful expense management all contributed to good financial results this quarter.”

New on PaymentsJobs.com - Senior Manager of Global Payments @ Yahoo!

Yesterday, Yahoo! posted a new position for payments professionals on Glenbrook's PaymentsJobs.com job board: PaymentsJobs_logo-140px.jpgIs your company hiring? Are you in the market for qualified payments professionals? You can reach the best candidates here! Post your job openings for payments professionals on PaymentsJobs.com!

Headline News - August 3, 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 02, 2010

Visa Formally Launches Rightcliq by Visa

visa_logo-140px.jpgRightcliq by Visa, an online shopping tool, was formally launched today after an eight-month beta.
Visa developed Rightcliq to address many of the frustration points consumers experience while shopping online and to help them make smart online buying decisions. According to a recent Visa survey, half of all online shoppers rely on inconvenient methods – like bookmarking and written lists – to track items they are interested in buying, but not yet ready to purchase. More than 90 percent said they would do more online shopping if they had an easy way to compare items and see available merchant discounts and promotions. Rightcliq’s features address these opportunities and will help make online shopping simpler, smarter, and more fun.
To enroll in Rightcliq by Visa, U.S. consumers can visit http://rightcliq.visa.com. READ MORE »

Payfone Closes $11M Series B Financing

payfone_logo_70px.pngPayfone has announced the closing of its $11M Series B financing round with investments by Opus Capital, BlackBerry Partners Fund, and RRE Ventures. Bob Borchers of Opus Capital and Kevin Talbot of BlackBerry Partners Fund will join Payfone’s Board of Directors.
Payfone has built the world’s first and only mobile payments platform that leverages the capabilities of existing inter-operator networks. Designed from the backbone of the mobile operator network, Payfone uses signaling and global operator standards to deliver advanced payment and billing capabilities that meet the needs of today’s mobile ecosystem.
The Wall Street Journal has the backstory on Bob Borchers role. Essentially, this is his first investment since leaving his position at Apple as Sr. Director of Worldwide Product Marketing for the iPhone. READ MORE »

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