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February 07, 2011

Federal Reserve Reports Increase in Consumer Credit for 4Q2010 and December

FedThe US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "consumer credit increased at an annual rate of 2.50% in the fourth quarter. Revolving credit declined at an annual rate of 2.75%, and nonrevolving credit increased at an annual rate of 5.50%. In December, consumer credit increased 3.00% at an annual rate."

Mobile Payments News on the Web

Mobile payments icon 140pxMobile payments continue to dominate press coverage of payments industry news:

And in related news, Barclays recently released the new lexicon of financial terminology. Their thesis is the informal nature of mobile devices is changing the way people talk about and refer to money.

TSYS and CASSIS Enter Into Mobile NFC Partnership

Tsys logo 140pxTSYS announced that it has entered into a partnership with CASSIS International.

“Consumers will soon be using their phones as their wallets, so delivering secure mobile payments, loyalty, rewards and coupons will be a ‘must have’ for our bank and merchant customers,” said Troy Woods, president and chief operating officer, TSYS. “TSYS is committed to offering a full range of mobile solutions that meets our customers’ needs both today and tomorrow, and we are excited to partner with CASSIS, a global leader in technology and trusted service management for mobile NFC.”
CASSIS is a mobile trusted service manager (TSM) for banks, retailers, transit operators and mobile service providers, and is globally certified by Visa and MasterCard.

NYCE and CashEdge Join Forces to Bring Real-Time P2P Payments to Banks

NYCE logo 140px Cashedge logo 140px NYCE has announced that it will begin offering CashEdge Popmoney to its more than 3,000 financial institution clients. But instead of using ACH, the normal Popmoney funds transfer method, the NYCE Payments Network "will provide the ability to transmit the funds between the sender’s account and the receiver’s account in real-time, resulting in the immediate availability of funds."

Sage Launches New Mobile Payments Product for SMBs

Sage logo 140pxSage Payment Solutions has announced general availability for Sage Mobile Payments, a PCI compliant "mobile payments product that comes bundled with a Sage merchant account to allow SMBs to expand their payment options by accepting credit and debit cards on 400+ types of mobile phones and computing devices, across all major wireless carriers."

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