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« September 26, 2010 - October 2, 2010 | Main | October 10, 2010 - October 16, 2010 »

October 08, 2010

TrialPay Launches DealSpot to Bring In-Game Offers to Social Apps

trialpay_logo_140px.pngTrialPay has announced the launch of DealSpot, a comprehensive promotion framework that delivers exclusive deals and branded engagements inside social applications. "In order to give publishers control over the deal context, TrialPay has pioneered an industry first: deals automatically appear in games via dynamically loaded Flash components that appear when relevant deals are available to consumers."

Citi Sells Private Label Credit Business to GE Capital

Citi_logo_140px.pngCiti has announced the closing of the sale of $1.6 billion in managed assets, part of its U.S. retail sales finance portfolios, to GE Capital.
Retail Partner Cards, within Citi Holdings, provides consumer and commercial credit card products and services, including private label credit cards, for national and regional retailers across the U.S. The business services more than 40 million customers and consists of managed assets of approximately $50 billion . Retail partners include The Home Depot, Shell, Macy's, Sears, and ExxonMobil, among others.

PayPal Mobile Check Capture Now Available

PayPal_logo-140px.jpgPayPal is blogging that $100,000 worth of checks have been processed in the first 36 hours by the "Add Money from Checks" capability inside the new PayPal mobile app. In related news, BankServe has announced that its mobile capture technology behind the service.

First Data Launches New Information and Analytics Services For Merchants

first data logo 140px.pngFirst Data has announced the launch of First Data Information & Analytics Services to help merchants better understand consumer spending and payments trends. "First Data processes a significant portion of the U.S. consumer expenditures with $1.25 trillion in TPV and more than 28 billion domestic merchant transactions in 2009. With a U.S. point-of-sale (POS) network spanning more than three million merchant locations, First Data draws comprehensive aggregated insights from its vast experience in the payments industry."

October 07, 2010

ABA to Offer Turnkey Prepaid MasterCard Program to Community Banks

business_solutions_logo_140px.pngBusiness Solutions, a subsidiary of the American Bankers Association, has announced a new program that will enable community banks to offer customers a variety of Prepaid MasterCard card products, including general purpose reloadable, payroll and gift cards. Customer deposits made to these prepaid cards will count in the overall deposits for the bank.

Equifax Acquires Cloud-Based Authentication Provider

Equifax_logo_140px.pngEquifax has announced that it has acquired Anakam. "With the combination of Anakam's Identity Suite and Equifax's eIDverifier, the company will be able to provide a single, integrated platform for two-factor identification as well as no-touch, risk-based identity verification and identity proofing."

Headline News - October 7, 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.

October 06, 2010

PCI Security Council Releases Guidance on EMV and E2E Encryption

PCI_Council_logo_140px.pngThe PCI Security Standards Council (PCI SSC) has announced the availability of separate guidance papers on the use of end-to-end (E2E) encryption and EMV technologies in a payment card data environment. The documents are intended to provide the market with greater clarity on how these two specific technologies relate to the PCI Security Standards and impact PCI DSS compliance.

Mobile Marketing with SmartPhones

SmartCardAlliance_logo-140px.jpgMobile phones are becoming so prevalent with consumers today that marketers are increasingly using these devices to send coupons, promotions and loyalty-based offers directly to consumers' phones. The topic of “mobile marketing” and the related privacy and security considerations are addressed in a new white paper recently released from the Smart Card Alliance Payments Council entitled “Chip-Enabled Mobile Marketing”.

Mobile Payments Industry Roundtable Summary

In January 2010, retail payments representatives from the Boston and Atlanta Federal Reserve Banks convened a meeting with key industry stakeholders involved in mobile payments in the U.S in order to better understand where the industry in the U.S. is headed, barriers to adoption, and how it may impact consumers in general. As an outcome of this meeting, they have published a Mobile Payments Industry Roundtable Summary.

EMV Card And Terminal Deployments Gaining Critical Mass

EMVco_logo_140px.pngAs of 1 September 2010, over one billion EMV cards and 15.4 million EMV terminals were active globally according to the latest figures from EMVCo, the EMV standards body collectively owned by American Express, JCB, MasterCard and Visa.
The official figures, which represent the latest statistics from American Express, JCB, MasterCard and Visa as reported by their member financial institutions globally, highlight the growing usage of EMV technology worldwide with 36% of total cards and 65% of total terminals in circulation based on the EMV standard.
READ MORE »

October 05, 2010

New Book from Glenbrook: Payments Systems in the U.S.

GP Logo Horizontal-140px.pngGlenbrook is pleased to announce the publication of its first book, “Payments Systems in the U.S.” The book is now available for order on Glenbrook’s Payments Education site (www.paymentsessentials.com) and is also available through Amazon.com.

Written by Glenbrook’s Carol Coye Benson and Scott Loftesness, the book provides a thorough grounding in U.S. payments systems—what they are, how they work, and how they are changing. In an informal, easy-to-read style, the book provides essential reading for any payments professional—new to the industry or experienced—who wants a comprehensive, unbiased view of the US payments industry.

The book is part of Glenbrook’s Payments Essentials program of Payments Boot Camps, workshops, and webinars providing industry education for payments professionals.

What Is the Role of Public Authorities in Retail Payment Systems?

The Chicago Fed and the University of Granada co-sponsored a conference early this year that brought together policymakers, academics and industry practitioners to discuss evolving retail payment systems and the role of public authorities, with several panels focusing on the Single Euro Payments Area. The Chicago Fed has now published a special issue of the Chicago Fed Letter that provides an overview of the conference and the various presentations.

Consumer Reports Survey Says Credit Card Issuers Improving in Wake of Credit Card Act of 2009

survey_graphic_140px.png"With the protections of the Credit Card Act of 2009 in full effect, a nationally representative survey shows a slightly lower level of dissatisfaction among Americans with their credit cards than last year. However, credit cards remain one of the lowest-rated services Consumer Reports has ever analyzed; only 45% of respondents said they were completely or very satisfied with their cards."

Live Blogging from Finovate Fall 2010 - Day 2

finovate_2010_logo.pngGlenbrook's Bryan Derman is attending the second day of the Finovate Fall 2010 conference today in New York City, and is live blogging throughout the day over on PaymentsViews.com.

Dynamics Debuts Payment Card with Options for Credit and In-Store Point Redemption

dynamics_logo_140px.pngDynamics Inc. has announced its Redemption payment device in a card form-factor. Redemption™ allows consumers to pay at the POS with credit or request to redeem their reward points or cash rewards toward the purchase of any item at any merchant. Redemption has been in trials with a small number of Citi credit card customers since May 2010. Citi expects to expand the trial with select U.S. credit card customers this November. This photo nicely illustrates things. READ MORE »

October 04, 2010

Fifth Third Processing Partners with Bling Nation on Mobile Payments

BlingNation_logo_140px.png Fifth_Third_Processing_Logo_140px.png Fifth Third and Bling Nation have announced that any financial institution that is part of the Fifth Third Processing Solutions network can now enable Bling mobile payments services for their debit card customers.

The Link Between Data Breaches and Failure to Comply with PCI Standards

verizon_logo_140px.pngVerizon Business has announced availability of the "Verizon Payment Card Industry Compliance Report". PCI was created in 2006 to protect cardholder data and reduce card fraud. Company investigators at Verizon found that breached organizations are 50% less likely to be PCI compliant, and that only 22% of organizations were compliant at the time of their initial examination.

MasterCard’s Annual Risk Management Conferences

MasterCard_logo_140px.pngMasterCard has announced it will hold its annual European Global Risk Management Conference in Barcelona, Spain Nov. 1-5. Following the Barcelona event, MasterCard will also host two concentrated forums in Dubai, United Arab Emirates on Nov. 7-8 and in Johannesburg, South Africa on Nov. 11-12. READ MORE »

The Receivables Exchange Introduces Corporate Receivables Trading

receivables_exchange_logo_140px.pngThe Receivables Exchange has announced the launch of its Corporate Auctions program. The Exchange also announced that a Top 10 Fortune 500 company has signed on as one of the first Sellers. "The Receivables Exchange is unveiling the program and new trading platform today in New York at Finovate Fall 2010, an invitation-only conference showcasing the nation’s most innovative financial technology companies." READ MORE »

Prosper Releases Person-to-Person Lending Metrics

prosper_logo_140px.pngProsper.com, a peer-to-peer lending marketplace with over $205 million in funded loans, has announced that it has surpassed the one million member milestone. “It’s pretty incredible that one million people – a population greater than our headquarter City of San Francisco – have engaged with Prosper,” said Chris Larsen, CEO and Co-founder of Prosper.

BillShrink Debuts StatementRewards Platform for Financial Institutions

billshrink_logo_140px.pngBillShrink has launched StatementRewards, a new capability that enables banks to deliver money-saving recommendations and merchant loyalty rewards to their customers as part of monthly statements.

Visa, MasterCard Reach Settlement in Antitrust Case; Amex to Challenge Lawsuit

v_mc_amex_40pxh.png The U.S. Department of Justice has announced that it filed a civil antitrust lawsuit challenging rules that American Express, MasterCard and Visa have in place that "prevent merchants from offering consumers discounts, rewards and information about card costs, ultimately resulting in consumers paying more for their purchases. The department also said that the rules increase merchants’ costs of doing business."

The DOJ also announced that Visa and MasterCard have reached a proposed settlement with the government. Separately, American Express announced it will challenge the lawsuit.

The antitrust charges and settlement specifics are available from the DOJ.

Live Blogging from Finovate Fall 2010 - Day 1

finovate_2010_logo.pngGlenbrook's Bryan Derman is attending the first day of the Finovate Fall 2010 conference today in New York City. Bryan will be live blogging throughout the day over on PaymentsViews.com.

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