On Wednesday's earnings call this week, he was asked by Dan Perlin of RBC Capital for an update. According to the earnings call transcript made available on Seeking Alpha, he said:
Well I think the enhance checkout is something that we are pretty excited about and we intend to roll that out in a very big way in about six weeks. So, I think I'll leave that until Investor Day presentation [to be held in March- ed]. But I will tease you by telling you we are extremely excited about it, I think it'll be a big deal."
Kwedit Direct allows consumers without payment cards to participate and buy online - by payment with cash:
Here's a video about how Kwedit Direct works for payers:
If you're a publisher wanting to receive funds via Kwedit Direct, here's another video with more information:
Kwedit Promise enables consumers to receive goods immediately in exchange for Promises to “Play Now. Pay Later.” Kwedit Promises can be paid off using any of the mechanisms provided by Kwedit Direct.
Kwedit Direct allows consumers to make payments at participating retail stores— starting with 5,800 7-Eleven stores in the United States— or by mailing cash or asking a friend or family member to pay on their behalf through a unique social payment network called Pass the Duck.™
“In 2009 we took important steps to maintain MasterCard's bottom-line growth, and as a result delivered another quarter and year of solid financial results,” said Robert W. Selander, MasterCard chief executive officer. “We remained focused on the needs of our customers, and continued to add value amid a challenging economic environment. For example, we recently announced a significant debit win in the U.S. with SunTrust and the first consumer inControl implementation with Barclaycard in the UK.”
For payments professionals, Kwedit is yet another example of segmentation in action. Remember the unserved? They'll accept something less than a perfect solution. Virtual goods merchants don't have a cost of goods sold that matters.
Here's a quick overview. To get started, you simply promise to pay. You can then choose to either pay within a few days - or default. In the meantime, you've bought whatever you wanted to buy from your favorite virtual goods merchant.
If you default, your Kwedit (get it?) score goes down - and you may not get new credit in the future. If you want to pay, you can put cash into the system in several ways - including at your local 7-Eleven store. Or, you can mail-in cash in a Kwedit mailer. Or, you can pass the buck to a friend or family member and ask them to pay. There's more to it - but you get the idea. See you in Farmville!
"By all measures, Visa's fiscal first quarter was a strong start to the new year, as we continued to execute well against our business plan," said Joseph Saunders, Chairman and Chief Executive Officer, Visa Inc. "We were able to capitalize on the secular trend to digital currency and grow revenues, as we expanded our payments network and processing capabilities to drive transaction growth through effective marketing programs. Even in the midst of the current economic environment, we remain fully committed to assisting our clients through these challenging times and returning excess cash to our shareholders."
According to Gemalto, "Valimo has pioneered the use of two-channel, two-factor authentication based on Public Key Infrastructure (PKI), combining an over the air platform (OTA) with a software client in the SIM to generate a legally binding electronic signature, any time, any place. Valimo enables mobile phone users to securely authenticate themselves, digitally sign documents and confirm legally binding transactions simply by entering a self-chosen passphrase or a PIN code. Valimo Mobile ID solution facilitates secure online banking, mobile payments, governmental services, electronic and mobile commerce, and identity and access rights management for enterprise applications."
Webinar on B2B Supplier Directories - February 9th, 10:30AM - 11:30AM PST. Carol Coye Benson and Erin McCune talk about the biggest gating factor in the conversion of B2B payments from checks to electronics - and evaluate the current market solutions. Register online - $149.
Payments Boot Camp - New York City - February 10th & 11th. Bryan Derman and Carol Coye Benson focus on the economic models of incumbents and challengers as they cover the entire U.S. payments industry - in two information-packed days! Register online - $1995.
Webinar on New Approaches to Chargeback Management - February 24th. Allen Weinberg and Jay DeWitt look at the problem, and market solutions, from the perspective of the eCommerce payments manager. Register online - $149. No charge for MRC merchant members.
Pioneering programs in Brazil, India, Mexico, and South Africa are providing financial services, such as savings accounts and electronic money transfers, to poor recipients of government transfers. But the Focus Note finds that worldwide fewer than one-quarter of government-to-person (G2P) payments to the poor land in a financially inclusive account—i.e., one that enables recipients to store funds, make or receive payments from other people in the financial system, and is accessible, in terms of cost and distance.
Some of us will remember that years ago in the US, it was G2P payments (for Social Security, etc.) that helped jump start the ACH system and helped make receiving funds via ACH nearly ubiquitous with banks.
According to VeriFone, "PAYware Mobile provides small businesses with simple and secure card processing capabilities using the revolutionary iPhone. The app and patent-pending card encryption technology are provided free in conjunction with a low cost PAYware gateway services agreement."