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« October 24, 2010 - October 30, 2010 | Main | November 7, 2010 - November 13, 2010 »

November 04, 2010

American Express to Acquire Accertify

Amex_logo_140px.png Accertify_logo_140px.png American Express has announced it has agreed to acquire Accertify, a "leading provider of solutions that help merchants combat fraudulent online and other card-not-present transactions."

Accertify offers merchants the option to outsource their end-to-end fraud management process. Many of its customers have quickly achieved significant gains in the efficiency, accuracy and productivity of their fraud prevention efforts with reductions of 50% or more in their fraud losses and customer complaints due to fraud.
The purchase price is expected to be approximately $150 million. Upon closing, Accertify would operate as a wholly owned subsidiary of American Express.

Digital River Introduces a Full-Service, Stand-Alone Global Payments Solution

digital_river_world_payments_logo_140px.pngDigital River has announced a "comprehensive stand-alone global e-payments solution for online merchants in markets, including e-retail, travel and entertainment, and online services. Designed to increase revenue and customer lifetime value, Digital River World Payments enables online merchants to manage the entire payment lifecycle through a single connection to a payment gateway, merchant account services or fully outsourced payment programs."

More information is available at www.digitalriverpayments.com.

Bankrate Releases 2010 Gift Card Study

bankrate_logo_140px.pngBankrate has announced key findings from a new study on gift cards. "Bankrate surveyed 54 gift card issuers to determine fees that come from major gift card providers as well as where consumers can get the most value for their money." The full 2010 Gift Card Study is available here.

China's Alipay Now Accepted for Purchases at mba.com Store

alipay_logo_115px.pngGMAC, the Graduate Management Admission Council, has announced that people in China can now use Alipay, a major Chinese third-party online payment solution, to make purchases from the mba.com store, the official supplier of test-preparation material for the Graduate Management Admission Test (GMAT).

New TrialPay Checkout Flow Increases Online Conversions by 10% or More

trialpay_logo_140px.pngTrialPay has announced a redesign of its checkout flow to help its 10,000 online merchants convert more of their free users into paying customers. The company says "the new checkout flow, which features significant UI enhancements and a more streamlined design, is already proving effective: extensive A/B testing showed that the redesign can increase conversions by 10-15% and greatly improves the user experience."

November 03, 2010

PCI Compliance and Level 4 Merchants

survey_graphic_140px.png According to a new survey conducted by ControlScan and Merchant Warehouse, Level 4 Merchants (small-to-medium sized businesses) are all over the map on PCI awareness and compliance. 91% of the larger Level 4 merchants (over 50 employees) are familiar with PCI DSS, but only 45% of the smaller merchants (1-10 employees) are familiar. eCommerce merchants were more aware of PCI compliance than their brick-and-mortar retail counterparts (60% versus 37%).

RSA Unveils New Solution to Deliver End-To-End Data Security

RSA_logo-140px.pngRSA has announced the general availability of the RSA Data Protection Manager, which "combines tokenization and application encryption, two popular application-based controls, with advanced token and key management to deliver end-to-end data security." RSA tokenization technology is currently used with partners like First Data Corporation and VeriFone to secure payment card data.

U.S. Bank Becomes First Major Bank to Offer Secure Vault Payments from NACHA

USBank_logo-140px.pngU.S. Bank, the fifth largest bank in the United States, will soon become the first major bank to implement Secure Vault Payments (SVP). "It gives businesses the only online payment option that provides real-time authorization of funds and guaranteed payments for ACH transactions at costs typically lower than traditional and other alternative payment methods."

"Launching Secure Vault Payments allows U.S. Bank to give our business customers a cost-effective, low risk option to accept online payments, while also offering our consumer banking customers one of the safest ways to pay online," said Jeff Jones, executive vice president for treasury management at U.S. Bank.
Glenbrook took a detailed look two years ago at Secure Vault Payments when it first went to pilot.

November 02, 2010

Aconite Announces Packaged Solution To Speed EMV Adoption

aconite_logo_140px.pngAconite has announced the Aconite Smart EMV Manager, an integrated package that delivers "a sophisticated, fully-featured EMV solution in a single product. With straightforward pricing, simple interfaces and a plug-in deployment model, Aconite Smart EMV Manager offers all the benefits of Aconite's world-leading EMV components in a single, easy to implement package."

MasterCard Announces 3Q2010 Financial Results

MasterCard_logo_140px.pngMasterCard this morning has announced financial results for the third quarter 2010. The company reported gross dollar volume increased 8.5% on a local currency basis to $685 billion, cross border volumes increased 15.4% and processed transactions increased 0.6% compared to the same period in 2009, to 5.8 billion.

"Consumers and businesses around the world continue to recognize the benefits of electronic payments and MasterCard remains at the heart of this evolution," said Ajay Banga, MasterCard president and chief executive officer. "Our year-to-date net income is up over 22%, aided by strong volume growth from markets outside of the U.S."
Press release, supplemental operating results, and an accompanying investor presentation are available on the MasterCard website.

November 01, 2010

What's Coming Up at Glenbrook

Dublin, Ireland - "Payments in a Mobile World" (New Workshop!)
November 17th & 18th - Registration Euro 1195

Santa Clara, California - "Glenbrook Payments Boot Camp"
December 8th & 9th - Registration $1995

Glenbrook Payments Essentials Webinars - Registration $149

This week - "Essentials of eCommerce Payments"
Tuesday November 2nd, 10:30AM- 11:30AM PST

Next week - "ACH Essentials"
Tuesday November 9th, 10:30AM- 11:30AM PST

In 2 weeks - "The Job of the eCommerce Payments Manager"
Tuesday, November 16th, 10:30AM- 11:30AM PST

In 3 weeks - "The PayPal X Platform"
Tuesday, November 23rd, 10:30AM- 11:30AM PST

Questions? .

European Payments Council Marks Progress Towards SEPA And Calls On EU Lawmakers To Set Regulatory Migration Dates

sepa_logo_140px.pngThe European Payments Council (EPC) has announced updated and enhanced versions of the SEPA Credit Transfer (SCT) Scheme Rulebook and the SEPA Direct Debit (SDD) Scheme Rulebooks. November 1, 2010 marks an important target date for SEPA, as all banks in the euro area are now reachable for cross-border SEPA direct debits. READ MORE »

Cross-Border P2P Startup peerTransfer Secures Funding

peerTransfer_logo_140px.pngpeerTransfer has announced that it has secured financing led by Spark Capital and well-known angels including Dave McClure (500 Startups and formerly of PayPal), John Landry (former CTO of Lotus) and Jim Hornthal (co-founder of Travelocity). "Founded at MIT, peerTransfer enables individuals and businesses to transfer money between international bank accounts more conveniently and up to five times lower cost, compared to traditional banking and wire services."

Bank of America Merrill Lynch Offering New Capabilities for Payment and Invoice Processing

BankofAmerica_logo_140px.jpgBank of America Merrill Lynch has announced that the expanded capabilities for Paymode-X, the all-digital online payment and invoicing system powered by Bottomline Technologies, are now part of the bank’s supply chain and treasury solutions offering.

Combining electronic purchase order submission, invoicing and payment settlement on a single platform, Paymode-X enables companies to better control and predict their cash flow, reduce processing costs and strengthen relationships with suppliers. New features include enhanced purchase order presentment and matching, more efficient invoice workflow and approval capabilities, along with the ability for buyers and their suppliers to negotiate discounts for prompt payment.

VeriFone Announces Pan-European Payment Gateway

verifone_logo_140px.pngVeriFone has announced its PAYware Merchant managed service is now available across Europe. The recently announced strategic partnership with Gemalto "completes VeriFone’s pan-European sales and distribution network and makes a continental payment gateway service feasible." PAYware Merchant is a bank-certified, hosted payment solution for large retailers, fuel organizations and hospitality companies.

Reflections on Sibos 2010

Sibos_2010_Logo_140px.pngGlenbrook's Erin McCune is just back from Sibos 2010 conference, the annual international banking conference sponsored by SWIFT, and has posted her thoughts and observations on the state of the banking industry on our sister website, Payments Views.

Erin gave a well-received talk on The Future of Business Payments.

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