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January 21, 2011

Online Durbin Resources

Fed.gif If you're trying to think through the implications of proposed Debit Card Interchange and Routing rules, you might want to take a look at the following resources:

  • Durbin Video. C-SPAN is providing an online video of the Federal Reserve Board of Governors meeting where the draft Durbin rules were first released. After the key provisions are introduced, the Governors' spent most of the meeting probing the staff on the rationale behind the proposed rules. Very interesting.

  • Durbin Comments. Another great resource to keep your eye on is the industry feedback to the proposed regulations. Final comments are due back to the Federal Reserve by February 22, 2011. In the meantime, it is all posted online as it is received.

NACHA’s Board of Directors Elects New Officers

NACHA_logo-140px.pngNACHA has announced the election of new officers to its Board of Directors. The elected officers will serve a two-year term:

  • Pat Thelen, CTP, Executive Director, J.P. Morgan, Chairperson
  • Chrystina M. Giorgio, AAP, Senior Vice President, Operations, Sandy Spring Bank, Vice Chairperson
  • Russell K. Oatman, Senior Vice President, Corporate Treasury Services Group, First National Bank of Omaha, Secretary/Treasurer
The Board consists of 19 voting members representing depository financial institutions of all sizes that utilize the ACH Network in the U.S. READ MORE »

Bank of America Reports 4Q2010 Financial Results

Bank of America has reportedBankofAmerica_logo_140px.jpg financial results for the fourth quarter 2010.

Global Card Services returned to profitability in the fourth quarter of 2010 with net income of $1.5 billion. Excluding the $10.4 billion goodwill impairment charge in the third quarter of 2010, Global Card Services would have been profitable for four straight quarters. New U.S. consumer card accounts in the quarter were up 9 percent from the third quarter of 2010.

Headline News - January 21, 2011

Headline News is compiled by Glenbrook Partners:

Note: Throughout the day, as we spot interesting developments, this post is updated.

January 20, 2011

InsurCard Selects Visa for Distribution of Insurance Claim Payments

visa_logo-60pxh.pngVisa and InsurCard have announced an agreement naming Visa as InsurCard’s preferred brand for the delivery of payment for insurance claims. "InsurCard provides the insurance industry with card-based solutions for the payment of claims, expanding the penetration of electronic payments in an industry traditionally reliant on check payments."

Usablenet Integrates PayPal’s Mobile to Support Its Merchant's Websites

usablenet_logo_140px.pngUsablenet has announced integration with PayPal’s mobile payments product, Mobile Express Checkout, to enhance payment offerings on clients’ mobile websites. Usablenet can now optimally extend PayPal’s Mobile Express Checkout to mobile commerce websites and other supported solutions, such as mobile applications, tablets, Facebook & other social media, and in-store kiosks.

January 19, 2011

A Look at PayPal's 4Q2010 Financial Results

PayPal_logo-140px.jpg PayPal's parent eBay announced financial results for the fourth quarter and fiscal year 2010 today.

eBay's Payments segment (including PayPal and BillMeLater) revenue was $971 million for the quarter, an increase of 22% year over year; $3,436 million for the year, an increase of 23%. Net total payment volume (TPV) for the quarter was $26.9 billion, an increase of 26% year over year; $91.9 billion for the year, an increase of 28%. In term of revenue mix, Merchant Services (the off-eBay business) represented 61.5% of TPV; international was 43.4% of TPV. The company processed 421.1 million transactions.

For the quarter, PayPal's revenue cut (now called its "global take rate") decreased slightly to 3.45%, along with a slightly lower transaction processing expense rate of 1.10% and a slightly lower transaction loss rate of 0.15%. Active accounts (defined as active in the last 12 months) reached 94.4 MM, up 16% year over year.

Bill Me Later's volume for the quarter was up and now stands at 1.7% of the total Payments segment TPV. Outstandings are now at $999 million, and net charges offs dropped to 6.1%. READ MORE »

What’s Coming Up at Glenbrook

GP Logo Horizontal-140px.png Stay on top of the payments industry! Glenbrook’s payments education programs offer comprehensive, unbiased, and time-efficient ways to keep current.

Payments Essentials Webinars – Tuesdays from 10:30AM -11:30AM PST, $149
February 1, 2011: Cards Essentials with Carol Coye Benson (Basics Level)
February 8, 2011: Beyond PCI with Bryan Derman and Carol Coye Benson (Insight Level)

Payments Boot Camps – Two day “deep dive” into the industry, $1995
February 16-17, 2011: Santa Clara, CA. - with Scott Loftesness and Carol Coye Benson
April 13-14, 2011: New York City - with Bryan Derman and Carol Coye Benson
Client and multiple-registrant discounts are available – email

Mobile Payment Debuts Nationally at Starbucks

starbucks_logo.pngStarbucks has announced that it now accepts mobile payments in all US company-operated stores.

Building on the earlier introduction of Starbucks Card Mobile App for select BlackBerry smartphones, iPhone and iPod touch and a successful mobile payment test program, customers now have access to the largest mobile payment program in the US and the fastest way to pay at Starbucks. This national program now includes nearly 6,800 company-operated stores and more than 1,000 Starbucks in US Target locations.
Over on Payments Views, Scott Loftesness applauds this development in a post entitled, "One Hand Clapping!"

Visa Europe Releases 2010 Annual Results

visa_logo-60pxh.png"Spend on Visa cards in Europe grew by over 16% in 2010 to total over €1 trillion", according to results released by Visa Europe. "This growth now means that €1 in every €8 of consumer spend in Europe is spent on a Visa card, up from €1 in €9 in 2009." The Visa Europe Annual Report 2010 was also released.

CyberSource Surveys of eCommerce Fraud Show Mixed Picture

CyberSource_logo-140px.jpgCyberSource has announced the results of its annual surveys of eCommerce fraud in North America and the U.K.

In the U.S. and Canada, online merchants say their 2010 fraud rate remained at 0.9% for the second straight year. U.K. merchants, on the other hand, say their fraud rate rose from 1.6% in 2009 to an average of 1.9% in 2010—twice the rate seen by U.S./Canadian merchants. CyberSource experts point to a number of likely causes for this development in the U.K., ranging from the greater incidence of cross-border eCommerce within the European region to “fraud migration” in which fraudsters, facing stiff challenges in one location, simply direct their efforts elsewhere, including the U.K.
In related news, the CPP Group has released their Card Fraud Index for the UK saying that card fraud affects a quarter of the adult population.

January 18, 2011

Verifi's Decline Salvage Service Now Available as Managed Service

Verifi_logo_140px.pngVerifi has announced the availability of Verifi Decline Salvage as a standalone service for recurring billers, independent of the company's payment gateway. "Decline Salvage uses proprietary logic to analyze and re-submit declined credit card transactions for an approved authorization, saving merchants time and costly fees."

Chase Paymentech Launches Safetech Fraud and Security Solutions

ChasePaymentech_logo-140px.jpgChase Paymentech has announced the launch of Safetech™ Fraud and Security Solutions, a new suite of services designed to protect online merchants from fraud and POS merchants from data breaches.

“Chase Paymentech is wise to bring together these much needed solutions to their merchants,” said Carol Coye Benson, managing partner at Glenbrook Partners. “We now live in a world where managing risks associated with payment fraud and data security is part of the daily routine for merchants everywhere. By closely integrating these tools with the payment processing work streams, the Safetech approach makes the process more efficient.”
Safetech Fraud Tools were developed in partnership with Kount; Safetech Encryption was developed in partnership with VeriFone.

Global Payments and Planet Payment Announce Multi-Currency Agreements for North America

globalpayments_logo-140px.jpgGlobal Payments and Planet Payment have announced agreements to provide multi-currency processing services. "The agreements include the offering of Global HomeCurrencyPay, an innovative multi-currency processing solution powered by Planet Payment, to Global Payments' base of ISO and merchant customers in the United States and Canada."

ActivePath Helps Banks Comply with FDIC Overdraft Guidance

activepath_logo_140px.pngActivePath has introduced an enhanced version of its ActiveMail for Retail Banking, that enable banks and other depository institutions to achieve compliance with the FDIC’s Overdraft Payment Supervisory Guidance via the use of actionable alerts that can be sent to customers whose accounts are in overdraft or close to being overdrawn, empowering them to accept or decline overdraft protection.

January 17, 2011

National Retail Federation (NRF) Updates Mobile Retailing Blueprint

NRF-logo-140.pngThe NRF has updated and republished its "Mobile Retailing Blueprint".

Version 2 of the Mobile Blueprint, including an updated executive summary, maturity model, new mobile applications for marketing, commerce and operation, alternative payment information and how to use new technologies to speed mobile implementations, is now available.
The Mobile Commerce chapter has a nice summary of mobile remote payments (including carrier billing), mobile proximity payments, and the overall mobile payments ecosystem.

First Data Releases SpendTrend Closed Loop Prepaid Cards - December 2010 Analysis

FirstDataCorp_logo.jpgFirst Data has released its First Data SpendTrend analysis for closed loop prepaid cards for analysis for the full month of December 2010 compared to December 2009.

Year-over-year dollar volume growth of activations was 2% in December, a decrease from November’s growth of 8.6%. Overall redemption dollar volume growth was 4.6% in December, compared to 5.9% in November.
The SpendTrend Closed Loop Prepaid Cards tracks U.S. same-merchant activations, redemptions and reloads of merchant-branded prepaid cards, including spending, gift, incentive and promotional cards.

JPMorgan Chase - Card Services 4Q2010 Financial Results

Chase_logo-140px.jpgJPMorgan Chase has reported financial results for the fourth quarter 2010.

  • For its Card Services unit, Chase report net income of $1.3 billion, compared with a net loss of $306 million in the prior year.
  • Excluding the Washington Mutual portfolio, the net charge-off rate was 7.08%, down from 8.64% in the prior year and 8.06% in the prior quarter; and the 30-day delinquency rate was 3.66%, down from 5.52% in the prior year and 4.13% in the prior quarter.
  • Excluding the Washington Mutual portfolio, sales volume was $83.2 billion, an increase of $7.5 billion, or 10%.
Chase Paymentech merchant processing volume was $127.2 billion on 5.6 billion total transactions processed.

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