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« November 28, 2010 - December 4, 2010 | Main | December 12, 2010 - December 18, 2010 »

December 10, 2010

PayPal X Innovate 2010 Videos on Demand

PayPalX_logo-140px.pngPayPal is now providing all of the PayPal X Innovate 2010 breakout sessions in video on demand format. Viewing requires that you sign on to the PayPal X website using your PayPal credentials. There are 45 sessions, each roughly 45 minutes long, from the two-day conference that was held in late October in San Francisco.

Airline and Travel Payments Summit (ATPS) Presentations

atps_2010_logo_140px.pngThe presentations from this year's Airline and Travel Payments Summit (ATPS), held in San Francisco in late November, are now available online in PDF format, sixteen in total. Lufthansa Systems provided a nice overview of how to mitigate PCI compliance costs through tokenization.

CashEdge Launches Gift Card Options for Popmoney P2P Payments Service

cashedge_logo_140px.pngCashEdge has announced it expanded the capabilities of its Popmoney P2P payments service to provide users with various options for sending gifts of cash or prepaid gift cards.
Popmoney's gift card service, the first of its kind in the industry, enables bank customers to send retailer gift cards from their bank accounts. Customers can send gift cards to a recipient by email, mobile number or mailing address. Banks offering Popmoney can provide the option to their customers through a simple upgrade of the service.
CashEdge has partnered with industry leader Blackhawk Network to launch the service.

December 09, 2010

MasterCard Acquires Travelex’s Prepaid Card Program Management Assets

MasterCard_logo_140px.pngMasterCard has announced that it purchased the prepaid Card Program Management (CPM) operations of Travelex for US$458 million in cash, with an earn-out of up to an additional US$55 million if certain performance targets are met.
MasterCard is acquiring the Travelex operations that manage and deliver consumer and corporate prepaid travel cards to business partners around the world, including financial institutions, retailers, travel agents and foreign exchange bureaus. These operations also manage cross-border payroll, per-diem and expense-management prepaid cards for corporations. MasterCard has no plans to issue cards directly as a result of this transaction.
As part of the transaction, MasterCard and Travelex signed a long-term contract whereby MasterCard will provide program management services for the Travelex Cash Passport prepaid card sold through Travelex stores and online channels.

Federal Reserve Reports Increase in Consumer Credit

Fed.gifThe US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "Consumer credit increased at an annual rate of 1-3/4 percent in October 2010. Revolving credit decreased at an annual rate of 8-1/2 percent, and nonrevolving credit increased at an annual rate of 6-3/4 percent."

First Data Releases November 2010 SpendTrend

first data logo 140px.pngFirst Data has released its First Data SpendTrend analysis for the full month of November 2010 compared to November 2009.
In November, year-over-year credit transaction growth was 5.4% and dollar volume growth was 8.0%. Credit growth was the highest in over a year. Consumers were more willing to use their credit cards to purchase their holiday gifts while debit growth rates slowed.
SpendTrend tracks same-store consumer spending via credit, signature debit, PIN debit and EBT cards at US merchant locations.

Braintree Adds Tokenization and Flash Redirect for Web 2.0 Merchants

braintree_logo_140px.pngBraintree has announced availability of Luhn-10 Tokenization, a key feature to helps merchants better address PCI compliance requirements. "Braintree has also enhanced its innovative Transparent Redirect technology by adding support for applications written in Flash. This is particularly important as an increasing number of Web 2.0 merchants work to make the payments experience as seamless and frictionless as possible."

P2P Payments go Mobile in Canada with Interac e-Transfer

Interac_logo_140px.pngInterac e-Transfer (formerly known as Interac® Email Money Transfer) now provides participating financial institutions "with the opportunity to allow customers to send or receive money almost instantaneously with their mobile phone or their desktop, by either using a mobile phone number or an email address."

December 08, 2010

Study Shows More Than 75% of Noncash Payments Are Now Electronic

Fed.gifThe Federal Reserve's 2010 study of noncash payments released today revealed that "in 2009 more than 75% of all U.S. noncash payments were made electronically, a 9.3% annual increase since the Federal Reserve's last study in 2007. This growth and other statistics in the study emphasize consumers' increasing adoption of electronic alternatives for payments in the United States. The 2007 study revealed that in 2006 roughly two-thirds of the payments were made electronically."

Credicard and Elavon To Form Merchant Acquiring Business in Brazil

Elavon_logo-140px.jpg Citi_logo_140px.png Credicard, a wholly-owned Brazilian subsidiary of Citigroup, and Elavon have announced a binding agreement to establish a joint venture creating a merchant services company that will offer a full suite of payment solutions to the Brazilian marketplace. "The new company will be branded as “Elavon” and will be supported with the launch of a sales force with national coverage, as well as in-market operations, technology and product resources."

December 07, 2010

Visa Mobile Contactless Payments Solution Certified for Commercial Use

visa_logo_140px.pngVisa and Visa Europe have announced the commercial availability of mobile contactless payments enabled by DeviceFidelity’s In2Pay microSD solution. "For the first time in Visa’s history, a mobile contactless payment solution is now included in the list of Visa compliant products available for potential commercial deployment by financial institutions in the U.S. and select markets."

In related news, Wells Fargo has announced it is rolling out a Visa microSD mobile payments pilot in San Francisco on select BlackBerry and iPhone models.

Monitise and ViVOtech Partner to Deliver NFC Mobile Payments

MonitiseMobileMoney_logo_140px.png vivotech_logo_140px.png Monitise has announced that it has joined forces with ViVOtech to deliver mobile phone payments services to banks across the United States.
The partnership means customers of participating banks will be able to turn their handset into a mobile wallet (linked to registered bank accounts, credit and debit cards) and purchase items using contactless payments at merchants with NFC capabilities.
The partnership combines ViVOtech’s over-the-air (OTA) software and Monitise’s Mobile Money wallet technology.

Survey says Consumers Want to Connect with Banks via Social Media

survey_graphic_140px.pngFiserv has announced the results of a survey that established consumer interest in connecting with financial institutions through social media.
The survey showed that 11% of online consumers are currently connected with their bank or credit union through a social site, and more than one-third (36%) of those not connected are interested in doing so. Interest is highest among Gen Y consumers, at 45%.
A white paper detailing the survey results can be downloaded here.

Citi ThankYou Rewards Now Includes Virtual Goods from Zynga

Citi_logo_140px.pngCiti ThankYou Rewards has announced that it is expanding its rewards collection by introducing gift cards and exclusive virtual products from Zynga. "Zynga is producing a line of exclusive items available only to Citi ThankYou Rewards members, starting at just 600 ThankYou Points. Members can also redeem for both physical and virtual gift cards to enhance their gaming experience across popular games like FarmVille, FrontierVille and Café World."

Offermatic Introduces New Card-Based Deals and Offers Model

offermatic_logo_140px.pngOffermatic has introduced a new model for deals and offers that enables merchants to target people based on card-based spending patterns.
By signing up for the free service online and linking one or more cards, Offermatic anonymously and securely reviews purchase history and identifies highly targeted and relevant money saving offers from merchants. Offers are between $5 and $100, and rebates are applied directly to the user's debit or credit card after a purchase is made. No coupons needed.
This video explains how it works. Earlier this year, TechCrunch called Offermatic the "freak love child of Mint, Groupon, and Blippy".

Visa CodeSure Goes Contactless

visa_logo_140px.pngVisa Europe and its technology partner, Emue Technologies, have announced the commercial availability of a contactless payments-enabled version of its Visa CodeSure integrated card and authentication solution.
The Visa CodeSure card has gained market acceptance very quickly, with the world’s first commercial launch announced by Cornèr Bank (Switzerland) in November 2010. Prior to this, trials were undertaken with a broad range of participants including BarclayCard, Yapi Kredi (Turkey), IW Bank (Italy) CAL Bank (Israel) and DKB (Germany).
Visa CodeSure uses an embedded PIN pad to generate a one-time-use authentication passcode for CNP transactions.

MasterCard Develops Payment Solution for ‘Aadhaar’ in India

MasterCard_logo_140px.pngMasterCard has announced "a payment solution for ‘Aadhaar’. ‘Aadhaar’ is a 12-digit Unique Identification Number (UID) that captures basic demographic and biometric information of Indian residents. The UID will make it possible for residents to establish their identity with financial institutions thereby providing them a gateway into the formal banking system. This payment solution will enable Aadhaar holders to perform payment transactions using UID numbers with biometric authentication.'

In related news, ElectraCard Services (ECS) also announced that they will be handling the end-to-end processing of of MasterCard solution.

Amazon Cloud Achieves Level 1 PCI Compliance

aws_logo_140px.png Amazon Web Services has announced that "it has achieved Level 1 compliance with the Payment Card Industry (PCI) Data Security Standard (DSS). Merchants and other service providers can now run their applications on AWS PCI-compliant technology infrastructure to store, process and transmit credit card information in the cloud."

December 06, 2010

Survey Says Use of Smartphones by Bargain-Hunting Consumers is Changing the Customer-Retailer Relationship

survey_graphic_140px.pngA global survey by Accenture on mobile devices and shopping shows that "smartphone users would find it useful to download money-off coupons to their phones (79%), and receive instant money-off coupons as they pass by an item in a store (73%). Conversely, fewer than half (48%) of smartphone users have downloaded a coupon from their PCs."

FIS Announces New Prepaid Electronic Financial Account Offering

FIS_logo_140px.pngFIS has announced a "new low-cost, prepaid electronic financial account solution that enables consumers to make electronic deposits and payments as an alternative to a traditional demand deposit account (DDA) or general-purpose reloadable (GPR) prepaid card."

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