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February 12, 2010

February 11, 2010

Bringing NFC Mobile Payments to Slovenia

An international consortium of payment and wireless industry leaders have announced their participation in a field trial being conducted by Banka Koper to bring SIM-based NFC mobile payments to Slovenia. CASSIS International, INSIDE Contactless, Sagem Orga and Sagem Wireless, in cooperation with Mobitel, the leading mobile service provider in Slovenia, have provided Banka Koper with the payment infrastructure and applications for this trial, which will run through June 2010. READ MORE »

TSYS Introduces Hybrid Check/Credit Payment Card

TSYS has announced payment card, TSYS Hybrid, that allows consumers to choose how they want to pay - combining credit and checking payment functionality on a single card, providing a payment solution that gives consumers greater financial control. TSYS says it is "first to bring to market a solution that is well suited for the current economic environment." READ MORE »

Gemalto Introduces Chip Equipped Payment Card for U.S. Travelers

Gemalto has introduced the World Traveler program, a globally accepted dual interface EMV payment microprocessor card and complete issuance service for U.S. banks and card issuers. According to the company: "With most countries around the world moving to EMV-based payment for greater security, U.S. travelers are increasingly having trouble using magnetic stripe bankcards abroad, especially in offline applications like unattended ticketing/payment kiosks. Gemalto’s new World Traveler program allows any U.S. issuer to provide cards to their customers in under two months, ensuring secure and hassle-free payments while traveling internationally and at home." READ MORE »

Headline News - February 11, 2010

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers looking to hire payments professionals can post their job openings there as well.

February 10, 2010

Visa Europe, Carte Bleue Complete Merger

Visa Europe and SAS Carte Bleue have announced the completion of the merger of their operations in France and the creation of Visa France. According to the press release, "the new organisation extends Visa Europe’s association model by establishing more direct relationships with French banks in order to meet their needs more closely. This deal represents a significant investment in France by Visa Europe, with a dedicated workforce that will work with Visa Europe's members in France to develop and deliver innovative, value creating solutions to meet their customers’ needs." READ MORE »

Fifth Third Bank, MasterCard Develop Corporate Purchasing Solution

Fifth Third Bank and MasterCard have announced the availability of MasterCard Purchase Control for Fifth Third's commercial clients - a tool that provides control and flexibility in payments management. With MasterCard Purchase Control, Fifth Third Bank will offer corporate clients enhanced global controls and increased transaction security that combines an integrated preapproval process with secure virtual account numbers. READ MORE »

An Update from Snow Central

Here's a news report from the Big Apple: "Glenbrook's latest Payments Boot Camp is kicking off in New York City this morning, in the midst of a "monster snowstorm" predicted to be "a 9 on a scale of 1-to-10". Glenbrook's Carol Coye Benson and Bryan Derman have already battled their way into the classroom - and determined boot campers are beginning to trickle in. Sadly, several out-of-towners have had to cancel because of flight cancellations - we'll welcome them to one of the next boot camps - maybe in sunny California!"

Javelin Study Finds Identity Fraud Reached New High in 2009

Javelin Strategy & Research has announced results from its 2010 Identity Fraud Survey Report - finding that "the number of identity fraud victims in the United States increased 12 percent to 11.1 million adults in 2009, while the total annual fraud amount increased by 12.5 percent to $54 billion. The report found that protection of data by consumers and businesses and enlisting assistance in resolution are helping consumers and businesses resolve fraud more quickly, and are also reducing or eliminating costs for the consumer. Average fraud resolution time dropped 30 percent to 21 hours, and nearly half of new victims file police reports, resulting in double the reported arrests, triple the prosecutions, and double the percentage of convictions in 2009." READ MORE »

Headline News - February 10, 2010

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers looking to hire payments professionals can post their job openings there as well.

February 09, 2010

A Look at Accepting Credit Cards on iPhones

In an article titled "iPhone credit card swipe war heats up", Jessica Bruder writes for CNNMoney.com about several new approaches to enable iPhones to become point-of-sale devices for payment card acceptance: Square, VeriFone Payware Mobile, and Mophie - among others.

Bruder writes: "They're battling each other for the hearts -- and wallets -- of mobile merchants, promising an improvement over the clunky, hardwired credit card terminals that have been a staple of brick-and-mortar commerce for decades."

NFC Forum Forges Links with EMVCo, GSMA and Smart Card Alliance

The NFC Forum has announced it has formed liaisons with three industry-leading organizations key to the NFC global ecosystem: EMVCo, the GSM Association and the Smart Card Alliance. According to the forum, "these liaisons broaden and strengthen the NFC Forum's collaborative ties with key associations and standards bodies across the NFC ecosystem. As a first step in the liaisons, the Forum has signed a Memorandum of Understanding (MOU) with each organization that outlines how they will collaborate to further the development of the NFC market and NFC-based solutions." READ MORE »

Headline News - February 9, 2010

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers looking to hire payments professionals can post their job openings there as well.

February 08, 2010

Mercator Looks at the Economics of Debit Acquiring

Mercator Advisory Group has published a new report titled "The Economics of Debit Acquiring". The report "provides an overview of the costs associated with enabling merchants to accept debit cards for payment. This report evaluates EFT network pricing trends and provides an in-depth analysis on the implications these trends will have on acquirers. This report also offers the U.S. market share for the top companies in payment acquiring, discusses ways in which share can be measured, and analyzes PIN debit's role in skewing market share depending on which metric is used."

Visa Extends No Signature Required to Additional Merchant Categories

Visa has announced plans to offer its No Signature Required program to the majority of merchant categories in the United States beginning July 2010. According to Visa, "under the new expanded program, for domestic transactions $25 and less, retailers can accept U.S.-issued Visa cards for purchases without requiring a cardholder signature; this program has the potential to increase speed at the point of sale and enhance customer satisfaction." READ MORE »

Target Introduces Mobile GiftCards

Target has announced that shoppers no longer have to carry their Target GiftCards in order to redeem them, thanks to the new Target Mobile GiftCard. Using Target’s mobile technology, any shopper can save GiftCard information to a PIN-secure account on the Target.com mobile site. Target says that "all that’s needed is a mobile phone with Internet capabilities which a guest can use to retrieve GiftCard barcodes for scanning at checkout." READ MORE »

A Look at Same Day ACH

An article titled "Same-day ACH provides faster payments "across the pond" in the Payments and Rails blog published by the Federal Reserve Bank of Atlanta takes a look at the faster payments now possible in the UK following implementation of the Faster Payments Service.

Last Call: B2B Supplier Directories - "Where's the Phone Book?"

Glenbrook's next webinar, B2B Supplier Directories - "Where's the Phone Book?", is being held tomorrow, Feb. 9 at 10:30 AM Pacific. In this session, Glenbrook's Carol Coye Benson and Erin McCune discuss business-to-business payments in the US and the absence of broadly available directories that would enable a willing payer to pay a willing payee electronically – without requiring bilateral discussions and negotiations. They will discuss the various solutions and ideas that are either in the market or currently under discussion to address this issue. You can register here (fee US$149).

Saying No to Credit Cards

In an article titled "More consumers just say no to credit cards", Sandra Block writes for USA Today about how credit card use is declining - and the rate of growth of new credit card accounts has slowed significantly.

Vesta Introduces Version 5 of Mobile Payment Platform

Vesta Corporation has announced the availability of version 5.0 of its Mobile Payment Platform. According to the company, "the new platform enables wireless operators worldwide to increase subscriber ARPU, accept more payment types and achieve Payment Card Industry (PCI) compliance through a managed service that includes a portfolio of new payment services and features." READ MORE »

February 07, 2010

American Express Investor Day

Last week, American Express held its semi-annual investor day - copies of the presentation materials, speech texts, and a transcript of the event are available at the Amex Investor Relations site. Ken Chenault (CEO) and Ed Gilligan (Vice Chairman) made presentations.

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