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« March 27, 2011 - April 2, 2011 | Main | April 10, 2011 - April 16, 2011 »

April 07, 2011

Federal Reserve Reports Consumer Credit for February 2011

FedThe US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "Consumer credit increased at an annual rate of 3.75% percent in February 2011. Nonrevolving credit increased at an annual rate of 7.75 percent, while revolving credit decreased at an annual rate of 4%."

The 2009 Survey of Consumer Payment Choice

Boston fed logo 140pxThe Federal Reserve Bank of Boston has announced that a new public policy discussion paper on consumer payment choice is now available.
In 2009, the average U.S. consumer held 5.0 of the nine payment instruments available, including cash, and used 3.8 of them during a typical month. Between the 2008 and 2009 surveys, a period that includes the trough of the latest recession, consumers significantly increased their use of cash and close substitutes for cash, such as money orders and prepaid cards.
By focusing on payments by consumers only, the SCPC complements the recent 2010 Federal Reserve Payment Study, which describes the entire noncash payments economy.

April 06, 2011

Payments Views - Reflections on NACHA Payments 2011

GP Logo Horizontal 140pxDidn't make it to NACHA Payments 2011 this year? That's okay, because Glenbrook's Erin McCune did and she shares her thoughts about this year's conference over on Payments Views. Some of it is what you would expect ("Mobile, mobile, and mobile") but some of it came as a surprise ("Legal Entity Identifiers").

Study Shows Ample Room for Direct Deposit Growth in Small Businesses

NACHA logo 140pxTwo-thirds of small businesses in the United States don’t offer Direct Deposit to employees, according to a new study from NACHA and eCom Advisors. "That is just over three million companies that are still issuing payroll by check and 18 million employees who don’t have the option to be paid electronically."

Zuora Teams Up With Salesforce.com To Better Serve Telco Providers

Zuora logo 140pxZuora has announced the launch of its Zuora for Communications solution, which marries Zuora's subscription commerce platform with Salesforce.com's customer care applications.
Zuora for Communications enables communications services providers to price, quote, and take orders on the front end and manage and monetize subscribers on the back end for any type of services from broadband, WIFI, 4G, VOIP, unified communications, and wireless devices such as the iPhone, iPad, Android.
In related news, Zuora announced that Barrett Xplore, a Canadian 4G network operator, has signed on as its first Zuora for Communications client.

April 05, 2011

2010 Federal Reserve Payments Study

FedThe Federal Reserve has publicly released the 2010 Federal Reserve Payments Study that reveals "in greater detail increasing adoption of electronic alternatives for payments in the United States by consumers, businesses and governments. The study examined payments made between 2006 and 2009." READ MORE »

Isis Prepares for Initial Mobile Payments Market Pilot

Isis logo Isis, the joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, has announced it will pilot the Isis mobile commerce program in Salt Lake City in early- to mid-2012. "Isis has also entered into an agreement with Utah Transit Authority (UTA) to make the entire UTA transit system Isis-enabled, marking the deployment of Isis as the first commercially available mobile transportation fare payment program in the U.S."

In related news, Bloomberg is reporting that Sprint will beginning deploying a competing NFC-based mobile payments solution later this year.

First Data and SK C&C USA Launch Trusted Service Manager (TSM) Solution

First data logo 140pxFirst Data and SK C&C USA, a pioneer in mobile commerce technology, have announced the commercial release of a Trusted Service Manager (TSM) solution.
The comprehensive First Data TSM solution is now available for enablement of Near Field Communication (NFC) devices for issuers, merchants and mobile network operators (MNOs) looking to quickly prepare consumers for the fast approaching mobile payment reality through the most scalable, cost-effective and secure service available today.

BilltoMobile Deployed With Multiple New Merchants

BilltoMobile logoBilltoMobile has announced it will provide its exclusive Direct Mobile Billing platform for carrier billing to a new group of diverse companies, including Aeria games, Flirtomatic, Gala-Net, Lavalife.com, and Xtranormal. BilltoMobile is the only mobile payments company with direct connections to the top three U.S. mobile carriers -- AT&T, Sprint and Verizon Wireless -- providing merchants with access to 240 million wireless subscribers.

April 04, 2011

Research Results: Need for Faster, Easier Cross-Border Payments

GP Logo Horizontal 140pxNew Glenbrook research, sponsored by Earthport, indicates that as companies do business with an increasing number of customers and suppliers over seas, they desire better cross-border payment systems.

Slow funds clearing, complicated reconciliation, and lack of transparency in foreign exchange fees make cross-border payments particularly challenging for businesses large and small, according to Glenbrook's Erin McCune who blogs about the key findings on Payments Views.

First Data Launches eCommerce Fraud Solution

First data logo 140pxFirst Data has announced the next step in its eCommerce fraud detection and prevention solution with the launch of Fraud FlexDetect, built in collaboration with Accertify.
"We must be relentless in our efforts to stay one step ahead of fraudsters; with Fraud FlexDetect merchants can better respond to changing fraud trends," said Bruce Dragt, SVP and division manager, Payment Acceptance, First Data. "We are seeing a great initial response to this solution amongst our merchants. With Fraud FlexDetect, merchants can develop a customized strategy that strikes the right balance between control and delegation of fraud prevention activities, and because it is integrated into our existing payment platforms, there is virtually no IT effort or maintenance."

PayCommerce Previews Cloud-Based SMB Universal Payments Platform

Paycommerce logo 140pxPayCommerce has announced that it is previewing a cloud-based platform at NACHA Payments 2011 that "provides small-to-medium sized businesses (SMBs) with a universal business payments solution to automate receivables and payables and integrate the processing and global settlement of virtually all forms and types of payments."

Fiserv Partners with Cardlytics for Merchant Funded Rewards

Cardlytics logo 140pxFiserv logo 60pxh Fiserv and Cardlytics have announced a partnership designed to deliver merchant-funded rewards through Corillian Online. Through this partnership, Fiserv is providing banks with the ability to integrate targeted reward offers into the daily banking experience.

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