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June 09, 2011

Citi Account Online Suffers Data Breach

Citi logo 140pxVarious media outlets are reporting a data breach at Citi effecting approximately 200,000 cardholders. eWeek seems to have the best summary of the story. It looks like the point of attack was the Citi Account Online customer portal. While 200,000 card numbers is not a Sony-class data breach, the incident is unusual in that it happened at a major bank.

First Data Releases May 2011 SpendTrend

First data logo 140pxFirst Data has released its First Data SpendTrend analysis for the full month of May 2011 compared to May 2010.
Higher unemployment and weaker economic conditions negatively impacted consumer spending in May. Year-over-year dollar volume growth slowed to 6.6%, the lowest monthly growth rate in 2011. Year-over-year transaction growth of 5.1% represented the slowest growth over the past 12 months.
SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.

Visa Acquires Fundamo, Signs New Agreement With Monitise

Visa logo 140pxVisa has announced that it is acquiring Fundamo and entering into a new, long-term commercial agreement with mobile-money provider Monitise plc.
The combination of acquiring Fundamo and expanding the relationship with Monitise will enable Visa to deliver best-in-class mobile financial services and payments capabilities to consumers across the full spectrum of uses, geographies and mobile environments from basic services on simple handsets to more advanced services for smart phone owners.

South Africa-based Fundamo has more than 50 active mobile financial services deployments across more than 40 countries, including 27 countries in Africa, Asia and the Middle East. A related announcement from Monitise is also on the wire.

June 08, 2011

Tester-Corker Bill to Delay Durbin Amendment Fails in Senate

Congress logo 140pxBackers of the Test-Corker Bill to delay implementation of the Durbin Amendment have failed by a vote of 54-45 to reach the 60 votes needed. The vote means that the existing amendment passed as part of last year's Wall Street reform law will take effect July 21, 2011. Media coverage:

Fiserv Expands Digital Payment Suite with Updates to CheckFree RXP

Fiserv logo 60pxhFiserv has announced that the CheckFree RXP money movement platform has been expanded to support account-to-account transfers and same-day bill payments. "These new functionalities integrate with the existing bill payment and person-to-person payment capabilities available through CheckFree RXP to create a robust digital payments suite for financial institutions. While the elements of this suite can be utilized a la carte, they are designed to drive increased transactions when offered together."

What's Up With Glenbrook

GP Logo Horizontal 140pxFall payments boot camps in New York and San Francisco Bay Area, new eCommerce market analysis reports, and June webinars...
Payments Essentials Webinars - Tuesdays 10:30am - 11:30am PDT, $149
Jun 14, 2011 - eCommerce Payments Acceptance – Asia
Jun 21, 2011 - Online Wallets, Shopping, and Digital Content
Jun 28, 2011 - Card Essentials

Payments Boot Camps – Two day “deep dive” into the industry, $1995
Oct 04-05, 2011: Santa Clara, CA - with Allen Weinberg and Carol Coye Benson
Oct 26-27, 2011: New York, NY - with Bryan Derman and Carol Coye Benson
Dec 07-08, 2011: Santa Clara, CA - with Scott Loftesness and Carol Coye Benson

eCommerce Market Analysis Reports
A new report on the Russia eCommerce Market; nine countries are available now, with more to come.

Google I/O Commerce Recap

Google logo 140px Google has made all the commerce-related sessions from its recent Google I/O Developers Conference available via YouTube. Topics covered in the Commerce Track included Google Checkout, In-App Payments for the Web, Google Shopping APIs, and Google OnePass. Unfortunately, Google Offers and Google Wallet were announced after the developers conference and are not included.

June 07, 2011

FaceCash Wallet Now Supports Both NFC and Barcode

Facecash logoThink Computer Corporation announced that it has added NFC support to its FaceCash Wallet mobile application on the Android platform, making FaceCash "the first payment system to support both barcode and NFC-based communication at the point of sale."

Wells Fargo and Bank of American Pull the Plug on Pariter

Pariter logo 140pxDigital Transactions is reporting that Pariter Solutions is being shut down.
Three years after introducing a joint venture aimed at processing ACH transactions between the two banks, Wells Fargo & Co. and Bank of America Corp. have abandoned the operation, which they called Pariter. “It will shut down over the next few weeks,” a Wells spokesperson tells Digital Transactions News. “It will take a few weeks to figure out what the specific impacts are.”

The original announcement trumpeting the launch of joint venture is still available.

CASSIS International Integrates MasterCard’s Mobile Provisioning Service

Cassis logo 140pxCASSIS International has announced that it has expanded its Trusted Service Management (TSM) Services to support MasterCard’s Mobile Over-the-Air Provisioning Service (MOTAPS).
James Anderson, Senior Vice-President of Mobile Product Development at MasterCard, said, “MasterCard developed MOTAPS to simplify and accelerate the deployment of PayPass onto NFC handsets. We are delighted to have CASSIS become a partner in the service – to the benefit of all participants in the Mobile NFC ecosystem.”

June 06, 2011

Radiant Systems Expands Mobile Payment Capabilities

Radiant logo 140pxRadiant Systems has unveiled a mobile payments platform that "enables restaurateurs and retailers to complete transactions faster and create a more intimate and pleasing on-site experience."
Radiant has a history of bringing mobile payment solutions to market, including its Orderman handheld technology used by servers and cashiers in over 30,000 restaurants worldwide. With consumers becoming more comfortable using technology in the palm of their hands, they are driving new demands on how they pay for purchases and interact with the businesses they frequent. Radiant is actively working on pilots with several companies that are planning to bring mobile wallets to market later this year.

Travelex GEO Launches Renminbi Payments into China

Travelex logo 140pxTravelex Global Business Payments has announced that "their business customers will now be able to trade in Chinese renminbi through Travelex’s unique GEO Global Clearing Network. Travelex will be the first non-bank Payments Specialist to offer business transfers in renminbi, the official currency of the People’s Republic of China."

Fiserv Tops 375 Financial Institutions for Mobile Money

Fiserv logo 60pxhFiserv has announced that "more than 375 financial institutions have agreed to use Mobile Money from Fiserv, the company’s flagship mobile banking and payments solution. Almost 200 of these banks and credit unions are already live on the service, a figure that has more than doubled within the last 12 months."

InComm Introduces Prepaid to the Discount Channel in Japan

InComm logo 140pxInComm has announced that it is teaming up with Don Quijote, Japan's largest discount store chain, to launch a suite of point-of-sale activation (POSA) prepaid products utilizing InComm's Fastcard technology at all of its retail locations.
While most retailers in North America regularly use POSA technology to enable display merchandising of gift and prepaid cards, the Don Quijote launch represents the first roll out of this technology in the major discount store industry in Japan.


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