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« November 21, 2010 - November 27, 2010 | Main | December 5, 2010 - December 11, 2010 »

December 03, 2010

Debit Cards Overtake Cash in the UK for the First Time

payments_council_logo_140px.pngCash has finally succumbed to the rise of the debit card in the UK according to a recent announcement from the UK Payments Council.

Sandra Quinn, Director of Communications, Payments Council explained: “Cash is too cumbersome for many consumers these days – they prefer a card for anything more than the smallest transactions. We now expect our debit cards to be accepted everywhere we go – in pubs and clubs, at the corner shop, online and on the high street. Having quickly supplanted cheques, then claimed the scalp of credit cards, they have now usurped cash’s throne too.”

Zeevex Launches 'Zeevex Social', a New Social Payment Service Powered by Twitpay

zeevex_logo_140px.pngZeevex, an InComm company distributing virtual currency cards through national retailers in the U.S., has announced that it "has entered into an exclusive agreement with Twitpay to bring viral social network payments to the online game market."

December 02, 2010

Secure Vault Payments Gaining Traction in Southeastern Edu Market for Online Tuition Payments

svp_logo_140px.pngeWise has announced that Auburn University and Columbus State University have joined the University of Georgia in accepting Secure Vault PaymentsTM (SVP) for tuition payments.

“Secure Vault Payments is a great solution for us,” said Lisa McCleary, bursar, University of Georgia. “SVP is a smarter electronic payment option that lowers our risk, allows us to receive money faster, and helps us keep costly and wasteful paper out of our system.” Since implementing SVP, UGA has seen strong utilization rates among enabled students with 17% using SVP to pay their tuition and 48% using SVP more than 5 times.

December 01, 2010

Travelex Offers America’s First Chip & PIN Enabled Prepaid Foreign Currency Card

travelex_logo_140px.png Travelex has announced availability of "America’s first prepaid foreign 'currency cards' available in Euros and British Pounds that utilizes chip & PIN technology." Travelex’s new Chip & PIN Cash Passport™ MasterCard provides Americans traveling abroad with technological compatibility with overseas merchants that have migrated towards chip-based transactions. The card will also include a traditional magnetic stripe, for those merchants not yet using Chip & PIN technology.

Mobile Payment Videos We Like

GP Logo Horizontal-140px.pngCurious about mobile payments, but tired of reading the small print? Glenbrook's Carol Coye Benson has compiled a collection of how-they-work videos. Included are videos from Bling Nation, PayNearMe, Square, BOKU, Intuit GoPayment, PayPal Mobile, VivoTech, Oberthur, MobilePay, MocaPay, and FaceCash.

Dwolla Launches Mobile and Social Cash Platform

dwolla_logo_140px.pngDwolla, a new online and mobile cash system that operates in and outside a user's social networks, has announced the nationwide release of its service in the U.S. The service is built on ACH and charges users a flat $0.25 to receive funds. The website is www.Dwolla.com.

November 30, 2010

FDIC Issues Final Guidance on Automated Overdraft Payment Programs

FDIC_logo_140px.pngThe Federal Deposit Insurance Corporation (FDIC) has issued final guidance to address the risks associated with overdraft payment programs. The guidance, effectively, bans bank sorting of checks and other items by amount in order to maximize bank revenues - effective July 1, 2011.

Next Issue Media Taps Vindicia as Billing Provider for Digital Newsstand

Vindicia_logo-140px.pngVindicia today announced that "Next Issue Media, the revolutionary digital publishing venture of Conde Nast, Hearst, Meredith, News Corporation and Time Inc., has selected its CashBox billing solution to power the sale of its interactive magazine and newspaper content to consumers worldwide. Options to be offered to consumers using the Vindicia CashBox solution will include digital subscriptions and single copy sales, as well as integrated print/digital bundles delivered across the consumer electronics and e-reading device landscape."

KreditFly Launches Innovative Mobile Payment Service in the US

kreditfly_logo_140px.pngA new startup called KreditFly has announced an "innovative and flexible mobile payment service today with a strong group of beta partners, which promises to fundamentally transform the way consumers use their mobile phones to make online purchases."

KreditFly seeks to transform the mobile payments industry with secure transactions using the mobile phone, flexible payment options, and use of short-term credit to eliminate pre-registration
The company led by Paul Kim, who was the founding CEO of BilltoMobile. The website is located at www.kreditfly.com.

American Express Reward Points Can Now Be Used To Buy Zynga Virtual Goods

Amex_logo_140px.png American Express and Zynga have announced that they have "entered into a strategic relationship that allows customers to use Membership Rewards points from American Express to pay for limited edition virtual goods, as well as physical and virtual game cards for Zynga's games."

November 29, 2010

Visa Offering International Online Shopping Solutions for Consumers

visa_logo-140px.jpgVisa has announced a series of promotions with two online shopping services - Borderlinx in 12 countries around the world and SkyBOX in more than 40 countries in Latin America - making it easier for Visa cardholders to shop on the internet for items from the United States this holiday season.

Mobile Money Service Comes to Haiti With "TchoTcho Mobile"

scotiabank_logo_140px.png digicel_logo_140px.png Digicel and Scotiabank have announced the launch of their mobile money product in Haiti. "TchoTcho Mobile allows Haitians to complete basic banking functions such as cash withdrawals, deposits and transfers safely and securely through their mobile phone and does not require them to have a traditional bank account."

Merchant Advisory Group Releases Recommendations for Move to Mobile Payments

The Merchant Advisory Group (MAG) has announced a high-level set of policy and technology recommendations for changing how U.S. payment systems work. "This 'Mobile Road-map' will be submitted to stakeholder groups in the payments business to help them understand merchant needs and preferences in transitioning to more secure and efficient transacting—especially with mobile devices."

The position paper is here (PDF). The key take away is the group endorses widespread use of Chip & PIN in the U.S.

U.S. Credit Card Delinquencies Continue to Fall to 1999 Levels

TransUnion_logo-140px-erin@glenbrook.com,EMc.jpgTransUnion has announced the results of its quarterly analysis of credit card industry trends.

The national credit card delinquency rate (the ratio of bankcard borrowers 90 days or more delinquent on one or more of their credit cards) decreased to 0.83 percent in the third quarter of 2010, down almost 9.8% over the previous quarter. Year over year, credit card delinquencies fell by 24.6%.
TransUnion's analysis also estimates that more than eight million consumers in the U.S. stopped actively using bank-issued, general purpose credit cards over the past year.

What's Up at Glenbrook

GP Logo Horizontal-140px.png Join Glenbrook's Payments Essentials Webinar on Local Country Payments for the eCommerce Payments Manager. Erin McCune talks through some of the complexities in understanding payments options in other countries - and provides an illustration of Glenbrooks' Framework for Understanding Local Country Payments. Tuesday, November 30th, 10:30AM PST - 11:30AM, $149. Register Now.

There are a few seats left for Glenbrook's December 8th and 9th Payments Boot Camp in Santa Clara, California. Register Now.

Visa Adds New Features to Rightcliq by Visa

visa_logo-140px.jpgVisa has announced a series of enhancements to Rightcliq by Visa that "add even more convenience and security to the online shopping experience. The enhancements will nearly triple the number of discounts available to online shoppers, make it even easier to track shipments to their doorstep and include support for the Google Chrome browser."

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