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September 10, 2010

First Data Releases August 2010 SpendTrend

FirstDataCorp_logo.jpgFirst Data has released its First Data SpendTrend analysis for the full month of August 2010 compared to August 2009.
For the third month in a row, credit transaction growth accelerated. Year-over-year credit transaction growth was 3.7%, an increase from July's growth of 1.9%. Credit average tickets grew 1.3% compared to August 2009. Consumers showed an increased willingness to use credit at the point of sale. Conversely, PIN debit and signature debit growth slowed in August compared to July.
SpendTrend tracks same-store consumer spending via credit, signature debit, PIN debit and EBT cards at US merchant locations.

Federal Reserve Reports Decrease in Consumer Credit

Fed.gifThe US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "in July, total consumer credit decreased at an annual rate of 1-3/4 percent. Revolving credit decreased at an annual rate of 6-1/4 percent, and nonrevolving credit increased at an annual rate of 1/2 percent."

CNPI Mobile Payment Solution Now Available in 12 African countries

CPNI_logo_140px.pngCPNI recently announced that its Phone Authorized Transfer (PAT) solution is now available in 12 African countries, with local in-country partners lined up to provide various large organizations in these countries with mobile payment services. This solution includes capabilities for Mobile P2P payments, Mobile Banking, and pre-paid payments for utilities.

Jack Henry & Associates Announces Standalone P2P Payment Solution

JackHenry_logo.gifJack Henry & Associates recently announced TheWayiPay, the standalone version of the iPay person-to-person (P2P) electronic payment solution which is provided by its recently acquired iPay Technologies division. TheWayiPay allows anyone in the US with a bank account to send money with just recipient's name and e-mail address.

Cybercriminals Creating Nearly 60,000 Fake Websites Each Week

Panda Security's anti-malware laboratory (PandaLabs) reports that hackers are creating 57,000 new websites each week that exploit many of the major high-profile brand names. In the investigation, PandaLabs found that banks by far comprise the majority of fake websites with 65% of the total. Online stores and auction sites are also popular at 27%, with eBay taking the spot as the #1 most targeted brand on the Web today. Western Union was the #2.

Cash, Treasury, and Risk Management in Canada Conference

Canadian_Flag_60x49px.pngGlenbrook's Jacqueline Chilton will be on hand at the inaugural Cash, Treasury, and Risk Management in Canada conference being held Sept 13-14 in Toronto. The event will present Canada as a model for risk management for the world while also addressing challenges in the Canadian environment and treasury strategies from which Canadian corporations and banks can learn. If you're going to be at the conference, let Jacqueline know - she'd love to meet you!

Payments News - September 10, 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.

September 09, 2010

Cheque Use 'Plummets' As UK Moves to Electronic Payments

graph.pngAccording to the latest data from the Payments Council in the UK, "cheque usage dropped by £21.5bn, down 10% compared to the same period in 2009 as businesses and consumers switched to faster and more convenient electronic payments and cards.
The use of debit cards (paying for goods and services) and Faster Payments (for transferring money between accounts) took up all the slack left by cheques. Debit card usage rose £7.9bn year over year, up 12.4%, while Faster Payments increased £16.9bn, a dramatic 67% rise as more banks made the service available to their customers, and consumers, and increasingly businesses, took advantage of being able to make instant transfers of their money.

Current Opportunities on PaymentsJobs.com

Several new positions for payments professionals have recently been posted to Glenbrook's PaymentsJobs.com job board in the last 30 days: 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!

Amazon Payments Launches New Streamlined Customer Experience for "Checkout by Amazon"

AmazonPayments_logo-140px.jpgAmazon Payments today announced a new Checkout by Amazon capability that lets Amazon users make purchases on a merchant's site using their Amazon.com account credentials without leaving the merchant's site. Consumers can now access their Amazon address book and payment methods directly on a merchant's site without being redirected back to Amazon.
"These enhancements to Checkout by Amazon reflect the feedback we've received from merchants who want to offer Amazon.com customers the convenience of using their account information with a more streamlined buying experience," said Baris Cetinok, General Manager of Amazon Payments.

Obopay and STAR Network to Enable Real-Time Mobile Account-to-Account Transfers

Obopay_logo_140px.pngObopay recently announced it will incorporate the STAR Expedited Transfer Service – which enables real-time transfers between bank accounts accounts via the STAR EFT network – into its own Mobile Money for Banks offering. STAR is a First Data company and a major US debit network. The STAR Network offers transaction speeds that are not possible with Automated Clearing House (ACH) transfers, which often take several days to process.

September 08, 2010

VeriFone Acquires End-to-End Encryption Leader Semtek

verifone_logo_140px.pngVeriFone recently announced that it is increasing its emphasis on end-to-end encryption solutions with the acquisition of encryption leader Semtek. VeriFone previously invested in Semtek’s equity funding. The acquisition, effective immediately, enables VeriFone to integrate the development, sales, implementation, and support of end-to-end encryption products into the existing VeriFone organization.

Additionally, VeriFone is offering royalty-free software licenses to device manufacturers and payment processors to further spur market adoption.

Netsize Survey Reveals Pent-Up Demand for Mobile Commerce and Shopping

survey_graphic.pngNetsize recently released “Unlocking the Value of Mobile Commerce”, a free report that examines the role of mobile in online commerce and physical world retail. The free report includes exclusive research on the what people are ready to and willing to pay through their mobile phone for pricey items that go beyond the usual mix of transport tickets and parking tokens.

Netsize is a subsidiary of Gemalto, is a leading European mobile communications and mobile commerce enabler. Key findings include: READ MORE »

Earthport Provides an Online Tool for Sending Cross-Border Payments

Earthport_logo-140px.jpgEarthport recently announced the online availability of its payments services through epDirect. epDirect provides a browser-based interface for enabling payments to be made cross-border to more than 200 countries in the world for a flat per-transaction fee. These transactions are facilitated through Earthport’s epClearing infrastructure.

September 07, 2010

CardEase Mobile Brings EMV Support to Mobile POS Devices

cardease_logo_140px.pngCardEase Mobile, from CreditCall, a new mobile POS acceptance app that allows fully secured Chip & PIN (EMV) transactions to take place on BlackBerry and other smartphones. How does it work? The card is read and the user’s PIN entered on a separate Bluetooth-linked PIN Pad that is paired to the smartphone. The data is encrypted while in transit and while on the smartphone, then sent over a wireless network to authorize the transaction. Checkout the video for more information. CreditCall indicates the app will be available in fall 2010.

FICO Survey Finds U.S. Consumers Face Growing Credit Gap

survey_graphic.pngA recent quarterly FICO survey, conducted by the Professional Risk Managers’ International Association (PRMIA), found strong evidence of a credit gap for U.S. consumers as lenders expect credit availability to fall short of consumer demand through the end of 2010. The survey found 73% of bankers expect credit applications to increase or remain steady over the next six months. 38% expect the approval rate for credit applications to decline, while only a quarter of those surveyed expect a higher approval rate.

Mobey Forum Provides Guidelines on How to Implement Mobile Remote Payments

mobey-forum-logo.gifMobey Forum has released a white paper that describes how mobile technology can be used for payments where two parties send and receive or exchange funds using the mobile channel, irrespective of where they are located. For example person-to-person mobile money transfer or payment to merchant, where the mobile device does not need to be in close proximity to a point-of-sale terminal. Entitled Mobile Remote Payments General Guidelines for Ecosystems, the white paper is free to download.

September 06, 2010

The Payments Boot Camp Comes to Europe!

GP Logo Horizontal-200px.png

Glenbrook is pleased to announce that a version of our popular two-day Payments Boot Camp will be offered in Dublin, Ireland on November 17th & 18th, 2010. The workshop will have a particular focus on mobile payments. “Payments in a Mobile World” will cover both the basics of the payments industry (value chains, economics, regulations, etc.) and explore how payments – in Europe and the United States – are being profoundly changed by mobile technology.

The workshop is being held in collaboration with the Financial Services Innovation Centre of University College Cork. Tickets are €1195 per seat. Register now!

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