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March 17, 2011

Zong Expands Mobile Payments Platform to any Connected Device

Zong logo 140pxZong has announced an expansion of its mobile payments platform to more application platforms and remote devices.
Previously available for HTML and on Android, developers can now integrate Zong’s simple mobile payments service in nearly any environment, including Flash, Unity, Interactive TV, gaming consoles, and the mobile web.
Zong enables consumers to bill online purchases to their monthly mobile phone bill or prepaid mobile account.

March 16, 2011

Fifth Third Processing Solutions Launches Open Payments Platform Solution

Fifth Third Processing Logo 140pxFifth Third Processing Solutions, together with IP Commerce, has announced the availability of e-Similate, an "open payments platform and workflow engine designed to facilitate the delivery of Fifth Third Processing Solutions' comprehensive set of payment transaction processing and acceptance solutions to the software developer community."

Visa Enhancements Deliver Personal Payments to U.S. Account Holders

Visa logo 60pxhVisa has announced that consumers in the U.S. will soon be able to receive and send funds to any eligible Visa credit, debit or prepaid account, anywhere in the world.
The new Visa personal payments service, which eliminates the inefficiencies of cash and checks for payments between individuals, was made possible through technical enhancements to VisaNet, Visa’s global payments processing network, and through the introduction of a new Visa transaction type that allows financial institutions to accept incoming funds.
Additionally, Visa announced strategic product agreements with CashEdge (announcement) and Fiserv (announcement). Both will have access to VisaNet, enabling them to integrate the Visa personal payment service into their respective P2P platforms - Popmoney and ZashPay.

Headline News - March 16, 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.

March 15, 2011

Congressional Bills Seek to Delay Durbin Amendment Deadlines

Two proposed bills have emerged that would delay the implementation dates passed into U.S. Federal law in July 2010 by the Durbin Amendment to the Dodd-Frank financial regulations reform bill. Assistant Senate Majority Leader Dick Durbin issued a brief statement vowing to block any legislative efforts to delay implementation of debit card interchange reforms.

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Getting Down to Business: Commercial Cards in B2B Payments

FedSusan Herbst-Murphy of the Payments Cards Center in the Federal Reserve Bank of Philadelphia has released a discussion paper on the use of Commercial Cards in Business to Business Payments.
Providing efficiency and cost-savings over paper payments (cash and checks), commercial payment cards are among the fastest growing card segments in recent years. Today, they account for nearly one in every five dollars spent using general-purpose payment cards. And since business and government payments are three times larger than consumer transactions, there is ample room for future growth.

CARD Act Conference: Key Findings

Cfpb logo 60pxhThe Consumer Financial Protection Bureau (CFPB) is now providing the key findings of a conference on the credit card marketplace held one year after the effective date of many of the provisions of the “CARD Act”.
The data from the eight presentations at the CARD Act conference provide an overview of the credit card market – the cost of credit for consumers, the supply of and demand for credit, and industry profitability. The CFPB also released data on the day of the CARD Act conference that focused on the ways that specific industry practices addressed in the Act – such as interest rate hikes and overlimit and late fees – have changed and impacted the consumer credit card experience.

NetOne Deploys Gemalto’s End-to-End Mobile Money Solution in Zimbabwe

Gemalto logo 140pxGemalto has announced that "NetOne, a leading network operator in Zimbabwe, is deploying Gemalto’s LinqUs solution for Mobile Money Transfer, which comprises of the server, user application, as well as system integration services. The offer, being marketed as the OneWallet service, works on 100% of the handsets and will enable all NetOne subscribers to perform secure and convenient money transfer using their mobile phone. In particular, it provides the unbanked with access to secure banking services."

March 14, 2011

Glenbrook Survey: We Need Your Cross-Border Payment Insight!

Survey with reward 80hpxGlenbrook is seeking cross-border payment insights from bankers and other payment providers. We’re interested in your perspective on solutions in the market as well as the characteristics of your ideal cross-border solution (that may or may not exist today).

If you have a second, please take our brief cross-border payment survey now.

Visa’s Payments Volume in Latin America and the Caribbean Grows 23.2%

Visa logo 140pxVisa has announced its Latin America and Caribbean performance results for the year ended December 31, 2010. "Regional payments volume growth reached 23.2% in 2010, with Brazil recording 24.6%, Mexico 16.8%, and the rest of Latin America and Caribbean as a group reporting a 22.8% yearly growth."


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