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« February 7, 2010 - February 13, 2010 | Main | February 21, 2010 - February 27, 2010 »

February 20, 2010

Credit Card Issuers Focus on Heavy Transactors, Not Revolvers

In an article titled "Banks Focus on People Who Can Pay More for Credit Cards", Eric Dash reports for the New York Times on how US credit card issuers are focusing on heavy "transactors" - "the moneyed users of rewards programs who spend big and pay their bills on time." Dash sees issuers charging higher fees for new rewards programs targeting these users - as issuers emphasize a focus on spending vs. lending.

Credit Card Currency Conversion Fees Untouched by CARD Act

In an article titled "A Card Fee Still Hides in the Luggage", Ron Lieber writes for the New York Times how the Credit Card Accountability, Responsibility and Disclosure Act that is now US law does not address currency conversion fees charged on transactions outside the US. He fears that because "the banks stand to lose a lot of revenue" because of the new law that "they’ll want to make it up somewhere, so they may feel emboldened to raise the currency conversion fees further."

February 19, 2010

A Look Ahead at the New World of Credit Card Issuing in the USA

In an article titled "A New Day Dawns for Credit Card Lending" in Monday's American Banker, Maria Aspan writes about the new world of credit card issuing in the United States - post the February 22 implementation date of the Credit Card Accountability, Responsibility and Disclosure Act. She notes that "issuers go from complaining to complying with new law" and talks to executives of Bank of American, Discover and Capital One.

Federal Reserve Launches Credit Card Website for Consumers

The Federal Reserve Board has announced the launch of "a new interactive website to help consumers better understand the new credit card protections that will take effect on February 22. These rules ban several harmful practices and require greater transparency in the disclosure of the terms and conditions of credit card accounts."

The site summarizes the main provisions of the rules and explains how they will affect credit card users. Two interactive features will allow consumers to learn more about the terms and fees of credit card offers and about the new features of their monthly statements. READ MORE »

Headline News - February 19, 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 18, 2010

A Brief History of Payments in the UK

The BBC has published a page titled "The history of payments in the UK" that begins with the "cheque" in 1659 and flows to 2009 and the launch of contactless debit cards. The debit card, now the most popular form of consumer payment in the UK, was launched initially by Barclays in 1987, just 23 years ago.

Facebook To Accept PayPal for Ads and Facebook Credits

Facebook and PayPal have announced a strategic relationship to offer PayPal in key parts of Facebook's advertising and developer systems. According to the two companies, "advertisers around the world will soon be able to use PayPal to pay for Facebook Ads through the company's online advertising tool. For businesses in areas where the payment process can be difficult and expensive, the option to pay with PayPal makes it even easier for advertisers, particularly small international companies, to run campaigns on Facebook. In addition, PayPal will become a payment option for Facebook Credits, which is currently being tested in a small number of games and applications. The goal of Facebook Credits is to give users a fast and easy way to buy virtual goods on Facebook, including items from the Facebook Gift Shop." READ MORE »

What's Coming Up at Glenbrook!

Glenbrook Payments Education

  • February 24th - 10:30 to 11:30 PST - Payments Essentials Webinar: New Approaches to Chargeback Management - Glenbrook's Allen Weinberg and Jay DeWitt dive into the details on best practices in chargeback management for eCommerce merchants, including reviewing solutions providers including Vindicia, and Verifi. Fee: $149. Merchant members of MRC can register at no charge, using discount code GBCMRC.
  • March 4th - 10:30 to 11:30 PST - Payments Essentials Webinar: eCommerce Market Segmentation - Glenbrook partner Russ Jones provides a comprehensive framework for the eCommerce market. Join him to understand how eRetailing, travel and entertainment, online services and digital content segments differ - particularly in their payments requirements. Fee: $249.

  • March 10th & 11th - Glenbrook Payments Boot Camp - Santa Clara, California - ALMOST SOLD OUT! - Carol Coye Benson and Scott Loftesness teach our popular two day "deep dive" into payments systems - with complete coverage of emerging mobile products and trends. Fee: $1995. Multiple attendee discounts available.
Meet up with Glenbrook on the road!

Headline News - February 18, 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 17, 2010

PreCash Introduces Transaction Fee Free Debit Card

PreCash has announced that it is introducing "the first general purpose reloadable prepaid debit card with free transactions". According to the company, "the free offering rewards users who adopt the prepaid card as a lifestyle product for everyday use. The card is part of the prepaid debit card provider’s move to offer flexible pricing for its Vision Visa Prepaid brand, and to offer a greater choice of products that meet the diverse needs of consumers." READ MORE »

TxVia Signs American Express Incentive Services

TxVia has announced it has signed an agreement to provide American Express Incentive Services (AEIS) with prepaid processing platforms based on TxVia’s platform-as-a-service (PaaS) delivery model. READ MORE »

February 16, 2010

A Look at TSYS' New Hybrid Card

In an article titled "Re-coupled Debit? The TSYS Hybrid Card" over on PaymentsViews.com, Glenbrook's Bryan Derman takes a look at the recently announced TSYS Hybrid card.

Bryan writes: "TSYS’s product could provide a compelling version of a promising concept that has largely been a disappointment in the marketplace."

Mobile Payment Provider mopay Opens US Office in Palo Alto

mopay, a provider of mobile payment solutions worldwide, has announced its expansion into the U.S. market with the opening of its U.S. headquarters in Palo Alto, California led by Kolja Reiss, Managing Director of mopay, Inc. mopay says it "specializes in bringing the “unbanked”— people without bank accounts and limited or no credit – the power to purchase digital goods and services with ease by placing charges on their mobile phone bills." READ MORE »

GLOBE GCASH, BOKU Partner For International Mobile Payments

Globe Telecom, a mobile operator in the Philippines through its wholly owned mobile commerce subsidiary G-Xchange (GXI), is partnering with BOKU to expand acceptance of the Globe GCASH service internationally. The deal opens the BOKU mobile payment platform and growing international merchant community to Globe’s GCASH subscribers. READ MORE »

Headline News - February 16, 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 15, 2010

Visa, DeviceFidelity Partner for microSD-based Mobile Payments

Visa and DeviceFidelity have announced plans to market a solution that can enable a mobile phone with a memory card slot to be used as a Visa mobile payment device. According to the companies, "the solution combines Visa’s contactless payment technology, Visa payWave, and DeviceFidelity’s In2PayTM technology to transform a mobile phone with a microSD memory slot into a mobile contactless payment device. This can enable consumers to make mobile Visa payWave transactions at any retail location that accepts contactless payments. Trials are scheduled to begin in the second quarter of 2010." READ MORE »

Mobile Contactless Payments at Mobile World Congress 2010

The GSMA, Samsung Electronics Co. Ltd., Telefónica, and Visa, together with Giesecke & Devrient, Ingenico, ITN International and La Caixa, have announced "the arrival of contactless mobile payments at Mobile World Congress in Barcelona this year. The companies unveiled the result of months of collaboration and have brought the first ever SIM-based NFC payments pilot to Mobile World Congress." READ MORE »

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