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May 31, 2011

PayPal Leverages Digital River World Payments to Enter Brazil

Digital river world payments logo 140pxDigital River has announced that PayPal is leveraging its Digital River World Payments solution to support local online payment processing in Brazil and Mexico. "This geographic expansion adds to the companies’ existing relationship, which now includes payment services across multiple continents."

Payments Views - It’s About Time: clearXchange and Bank P2P

GP Logo Horizontal 140px Over on our sister blog, Payments Views, Glenbrook's Carol Coye Benson interviews Mike Kennedy, chairman of the clearXchange board, and shares her thoughts on the new banking industry joint venture in a post entitled "It's About Time: clearXchange and Bank P2P".

This has been a big week for news in the payments industry – with the Google Wallet making a big, loud splash. It’s nice to see banks using the power of their collaborative action to demonstrate that innovation can come from the bank side of the payments world as well.

MoreMagic Launches Mobile Commerce Applications for Smartphones

Moremagic logo 140pxMoreMagic Solutions has announced the launch of its eTopUpOnline application for smartphones. "The application is now available across all major global mobile platforms, including Blackberry, Android, iPhone and Symbian."

May 26, 2011

Glenbrook Adds Russia to eCommerce Market Analysis Series

Russia cover 190px

Glenbrook has expanded its series of eCommerce Market Analysis Reports with a new profile of the market in Russia.

These reports are designed to help U.S. companies better understand eCommerce markets around the world — what local acceptance practices make each unique, what payment options are necessary to reach a critical mass of online buyers, and which payment providers can assist with market entry.

This new report complement our existing analysis of the eCommerce markets in China, India, South Korea, Brazil, Mexico, Argentina, South Africa, and Poland. Let us know if you have questions or are interest in discounted, multi-report pricing.

Google, Citi, MasterCard, First Data and Sprint Team up on Google Wallet

Google logo 140pxGoogle, Citi, MasterCard, First Data and Sprint have announced and demonstrated Google Wallet, "an app that will make your phone your wallet so you can tap, pay and save money and time while you shop. For businesses, Google Wallet is an opportunity to strengthen customer relationships by offering a faster, easier shopping experience with relevant deals, promotions and loyalty rewards."

“Today, we’ve joined with leaders in the industry to build the next generation of mobile commerce,” said Stephanie Tilenius, vice president, commerce and payments, Google. “With Citi, MasterCard, First Data and Sprint we’re building an open commerce ecosystem that for the first time will make it possible for you to pay with an NFC wallet and redeem consumer promotions all in one tap, while shopping offline.”

Google Wallet is currently in a field test and will be available to consumers this summer. The official site is www.google.com/wallet. The Google Wallet merchant acceptance site is www.firstdata.com/googlewallet.

If you missed the announcement — and all the Q&A — EnGadget was live blogging everything with photos. Nice job.

Sprint, VeriFone, and NXP all issued related announcements.

May 25, 2011

AisleBuyer Unites In-Store and Online Shopping

Aislebuyer logo 140pxAisleBuyer has announced that it now offers a "full multi-channel checkout solution to retailers and shoppers, available for iPhone and Android devices."

"After eliminating checkout lines with mobile self-checkout, we realized that in-store transactions and e-commerce transactions shouldn't be two separate things. In a single transaction, customers can now order some products for home delivery while walking out of the store with others," said Andrew Paradise, CEO of AisleBuyer. "With the addition of multi-channel checkout functionality, retailers and consumers have a true one-stop mobile shopping application at their disposal."

Street Savings To Redeem Mobile Coupons & Rewards at Existing POS

Street savings logo 140pxStreet Savings has announced two mobile marketing products – Street Savings Mobile Coupons and Mobile Rewards - that "move value using text messaging and popular gift and loyalty programs, and can be redeemed using widely available point of sale (POS) and credit card terminals."

“By tying the mobile transaction to the existing payments terminals, we have solved the problem of mobile coupon and rewards redemption, enabling merchants to track campaign success and move closer to a mobile payments environment,” said Pal Flagg, COO of Street Savings.

PXT Payments Launches PXT Money App for Smart Phones

Pxt money logo 140pxPXT Payments has announced the launch of PXT Money, a stored value app for consumer smart phones and a transaction settlement system for merchants.

"We have been offering local currency to be spent locally in municipalities for years in the form of smart, chip-based secure smart cards and loyalty programs, and it is simply time to evolve that payment system to be mobile," said John Regan, CEO and founder of PXT Payments. "With consumers and merchants now sharing the same access to the banking network, the reinvention of money is imminent. The cash in your pocket now means digital stored value, with limitless options for discounts, transfers, and exclusive offers."

New Boston Fed Paper Analyzes How Consumers Use Payment Instruments

Boston fed logo 140pxThe Federal Reserve Bank of Boston has published a paper entitled, "Adopting, Using, and Discarding Paper and Electronic Payment Instruments: Variation by Age and Race".

This paper uses data from the 2008 Survey of Consumer Payment Choice to discuss the adoption, use, and discarding of various common payment instruments. Using a nationally representative sample of individual-level data, it presents evidence in unparalleled detail about how consumers use different payment instruments. Most interestingly, it displays robust evidence of significant age- and race-related differences in payments choices.

Major U.S. Banks Form P2P Payments Joint Venture

ClearXchange logo 140pxBank of America, JPMorgan Chase, and Wells Fargo have announced that they have formed a new P2P payments joint venture.

Customers of the three banks will be able to move funds directly from their existing checking accounts using an e-mail address or mobile number – instead of providing checking account and routing numbers. The clearXchange service will roll out nationally, and there are plans over time to expand it to include other financial institutions and endpoints to create a money movement capability across the industry.
The three banks will own and run clearXchange, with Bank of America’s John Feldman serving as general manager.

mopay Launches New Mobile Payments Platform

Mopay logo 140pxmopay has announced the release of its next-generation mobile payments platform.

“Most mobile payments providers focus on Web purchases and in-app billing on the Android platform,” said Kolja Reiss, Managing Director of mopay. “With our brand new mobile payments platform, we are the first provider to offer a state-of-the-art billing solution that features the flexibility to be customized for every platform, be it desktop PCs, notebooks, smartphones, tablets, TVs, game consoles, in-car entertainment systems, kiosks and even appliances. This flexibility gives merchants endless opportunities to reach their customers in new and exciting ways and to make any Internet-connected device a sales channel.”

Survey Says Bank Customers Can't Tell a 'Fee' Service From a 'Free' Service

Ing direct logo 140pxING DIRECT USA has announced consumer survey results that show "not one of the 1,000 consumers surveyed were able to categorize all of the bank fees correctly."

The survey tested American's knowledge of current bank fees by choosing "real" or "fake." Only one in 20 (five percent) could correctly identify all of the "real" fees listed, and just under one in 10 (ten percent) saw through the "fake" fees. As more Americans are faced with confusing "fee" services versus "free" services, they are susceptible to unnecessary financial losses.

May 24, 2011

Current Opportunities on PaymentsJobs.com

Several new positions for payments professionals have recently been posted to Glenbrook's payments industry job board in May:

PaymentsJobs logo 140pxIs your company hiring? Are you in the market for qualified payments professionals? You can reach the best candidates here! Post your job openings for payments professionals on PaymentsJobs.com!

Cielo Acquires Braspag in Brazil

Cielo logo 140pxCielo, a large merchant acquirer and payment processor in Brazil, has announced that it has acquired Braspag.

Founded in 2005, Braspag is known for innovation and the development of online payment solutions and is the leading company in payment processing for e-commerce in Brazil, with a market share of approximately 65% in its segment. Operating as a gateway, Braspag's platform integrates online stores, financial institution sand acquirers, and is responsible for capturing, routing and managing payment transactions with cards, collection slip sand online debit.

May 23, 2011

Square Targets Cash Registers and Credit Card Terminals with New Apps

Square logo 140px Square has announced a bunch of new features for its iPad POS solution. "The new, free Square Register app for iPad streamlines checkout, tracks sales, and makes it easy for businesses to communicate with customers on their mobile phones. The company also introduced Card Case, which enables iPhone and Android users to explore local businesses; view menus; track and store digital receipts; and open digital tabs to make instant, effortless purchases – all on their phones."

In related news, TechCrunch also reports the latest Square adoption metrics.

EMVCo Publishes ‘A Guide to EMV’ as Adoption Continues to Increase

EMVco logo 140pxEMVCo has published a paper entitled ‘A Guide to EMV’ that provides "an overview of the EMV Specifications, processes and the role of the technology within the context of the wider payments industry. The publication, which can be downloaded from www.emvco.com, coincides with the release of EMVCo’s latest deployment figures which state that 40% of total payment cards and 71% of terminals in circulation globally are based on the EMV standard."

Glenbrook Survey: How is Your Payments Function Organized?

GP Logo Horizontal 140px  Carol Benson s conflicted copy 2011 05 23 Increasing payments complexity requires payments executives to periodically re-visit their organizational structure. To better understand this dynamic, Glenbrook is conducting an industry-wide survey of payments organizations. If you haven't participated yet, now's your chance!

http://www.surveymonkey.com/s/PaymentsOrg3
Survey respondents will receive a copy of the research report. Responses will also be revealed at the upcoming DRF 2011 Conference by Glenbrook's Jacqueline Chilton.

Survey of Consumer Payment Choice 2009 Data Release

Boston fed logo 140pxThe Consumer Payments Research Center at the Federal Reserve Bank of Boston has released the public use data files for the 2009 Survey of Consumer Payment Choice.

This survey fills a gap in knowledge about the role of consumers in the transformation of payments from paper to electronic by providing a broad-based assessment of U.S. consumers’ adoption and use of nine payment instruments, including cash.
The files available for free download here.

Credit Card Delinquencies Drop Nearly 10%

TransUnion logo 140px"Consumers, in general, are repaying their credit card debt in a timely manner, with delinquency rates in the first quarter of 2011 reaching levels not seen in almost 15 years" according to new data released by TransUnion.

TransUnion's quarterly analysis of trends in the credit card industry revealed that the national credit card delinquency rate (the ratio of bankcard borrowers 90 days or more delinquent on one or more of their bank-issued credit cards) decreased to 0.74% in the first quarter of 2011.

Survey Says Consumers Have Sights Set on Mobile Phone Payments

MasterCard logo 140px  Carol Benson s conflicted copy 2011 05 23MasterCard has announced the results of a new survey, conducted by Kelton Research, that shows 62% of Americans who use a mobile phone would be open to using their device to make purchases. "According to the study, 63% of 18-34 year olds would be at ease using mobile phones to make purchases versus those age 35 or older (37%)."

May 19, 2011

BilltoMobile Launching Global Mobile Payments Offering Covering 200+ Carriers in More Than 60 Countries

BilltoMobile logoBilltoMobile has announced it will be launching BilltoMobile payment service globally, offering U.S.-based online digital goods and services merchants "the ability to process web purchases on 200+ carriers in more than 60 countries with one simple integration into the BilltoMobile payments platform."

VeriFone and MICROS Bring NFC Services to the Table

Verifone logo 140pxVeriFone and MICROS have announced a solution that "integrates restaurant management systems with smart mobile devices, allowing consumers to pay at the table with electronic wallets on mobile phones utilizing Near Field Communications (NFC)."

Headline News - May 19, 2011

On the wires:

On the web:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

May 18, 2011

NYPAY Meeting - Monday, June 13th - “The Future of Loyalty and Rewards"

There's a NYPAY meeting for New York-based payments professionals being held Monday, June 13th. The topic is "The Future of Loyalty and Rewards". If you would like to attend, all the details are here. If you would like to stay current on NYPAY events, there is a NYPAY LinkedIn group.

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