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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 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.

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.

MasterCard Acquires DataCash

MasterCardWW-small.jpgMasterCard announced today that it has acquired DataCash, a UK-based payments service provider (PSP), for $520 million. A webcast for investors, and supporting presentation are also available. The corresponding DataCash announcement is here.

This gateway acquisition will bolster MasterCard efforts in the global eCommerce market, where the company's current offering, the MasterCard Internet Gateway Service (MiGS), has seen some success in emerging markets. Early this year, Visa made a similar acquisition of CyberSource.

Headline News - August 19, 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 Employers seeking to hire payments professionals can post their job openings there as well.

August 18, 2010

Swipely Opens to the Public, Makes Shopping Social

Swipely_logo-150px.pngSwipely today announced the opening of its site to all U.S. consumers, following a successful invitation-only beta period. Swipely imports purchase information from credit cards, debit cards, or email accounts so that users can share (ala Twitter) information about what they're buying and where they're shopping.

To share card transaction data, users must provide their online banking credentials to Swipely.

Prosper Releases 12-Month Peer-to-Peer Lending Stats

prosper_logo_140px.jpg today released 12-Month Performance Statistics and its monthly market survey data for July 2010.
“The focus at Prosper for the past twelve months – the period following Prosper’s SEC registration quiet period – can be summed up into two words: Risk Management,” said Chris Larsen, Chief Executive Officer and Co-founder of Prosper. “From building out our leadership team with world class risk management and analytics experts to the refinement of our risk and credit scoring models, success this past year has been defined by our disciplined approach to risk/return tradeoff and dramatically improved lender performance.”
The company claims to be the world’s largest peer-to-peer lending marketplace with over 34,000 loans totaling $202 million. The weighted average Prosper borrower credit score is 738.

August 17, 2010

FinovateFall 2010 Conference - Company Presenters Announced

finovate_2010_logo.pngThe FinovateFall 2010 conference being held in New York City on October 4-5, will focus on technology innovation in financial services. Some of the companies selected as first time presenters at FinovateFall 2010 include: ActivePath, Betterment, billFLO, BillFloat, Blaze Mobile, Bundle, Capital Access Network, Credit Sesame, Emue Technologies, Finsphere, Hidden Levers, Ixaris, Kashoo, Kiboo, Kony Solutions, Leadfusion, MatchFund, Optirate, Plantly, Plastyc, SapientNitro, Seeking Alpha, SmartyPig, Standard Charterd Bank, Thwakk, TouMetis, and Unience.

Household Debt and Credit

graph.pngThe New York Federal Reserve today released their 2Q2010 Quarterly Report on Household Debt and Credit. The report indicates the drop off in the number of open credit card accounts is slowing with the number of open credit card accounts only falling from 385 to 381 million in 2Q2010. Still, the number of open credit card accounts on June 30 was down 23.2% from their 2Q2008 peak.

Online Resources Expands Payments Presence in Utility Market

online_resources_logo.jpgOnline Resources has announced that over the past six months it has signed agreements with more than 40 utilities for various electronic billing solutions. According to the release, "Seven new biller-direct utility clients, including three of the 15 largest electric utilities and the largest investor-owned water utility in the U.S., selected Online Resources to power their customers’ billing and payments."

Prepaid Debit Card Research Reports has started to assemble a comprehensive list of "must read" research reports on the prepaid debit card market. So far they have identified 15 reports, and provide a brief abstract about each. All the reports are free.

August 16, 2010

Singapore 2010 Youth Olympic Games Showcases DBS Visa Prepaid All-In-One Card

visa_logo-140px.jpg According to recent Visa new release, "Spectators at the Singapore 2010 Youth Olympic Games Opening Ceremony this Saturday can expect a unique entry process with their all-in-one DBS Visa Prepaid cards."
The all-in-one card replaces the usual paper ticket and serves as an entry pass to the Opening Ceremony. In addition, it allows cardholders to make purchases at places that accept Visa cards, including Youth Olympic venues. It also comes with a contactless EZ-link transit function that enables cardholders to enjoy free public transport to competition venues on event days. The card can be used as a regular transit card after the Games.
Moreover, no one will be admitted to the Opening Ceremony without their Singapore 2010 Youth Olympic Games Opening Ceremony DBS Visa Prepaid card, which is the ticket to the event. READ MORE »

PayPal’s Upcoming iPhone App To Support Remote Deposit Capture

PayPal_logo-140px.jpgScott Thompson, PayPal President, has told TechCrunch that an upcoming version of the PayPal iPhone app will support direct charity donations and remote deposit capture. The new "check-friendly" feature will be that a PayPal user can take a picture of the front and back of an incoming check to deposit it to their PayPal account.

A Look at Retailer Bounced Check Fees

According to a recent study by Moebs Services, merchants are now charging $30 as a median fee in comparison to $25 in 2009, surpassing what banks charge for NSF fees.
“This is the highest percent increase we have ever seen national retail merchants charge consumers for writing a bad check,” said Michael Moebs, CEO and economist at Moebs $ervices, a national economic research firm based in Lake Bluff, IL. “Retailers’ fees now surpass those of banks and credit unions median fee of $27 for an NSF.”

MasterCard inControl

MasterCardWW-small.jpgRon Lieber had a nice profile of MasterCard inControl in the Sunday New York Times entitled, "Your Card Has Been Declined, Just as You Wanted". inControl gives issuers the ability for their cardholders to set spending limits by merchant category, block certain transactions, and receive real-time transaction alerts.

More information on inControl is available from MasterCard here.


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