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« August 21, 2011 - August 27, 2011 | Main | September 4, 2011 - September 10, 2011 »

September 01, 2011

Bank of America Launches New Cash Rewards Program

BankofAmerica logo 140pxBank of America has announced that it is "launching BankAmericard Cash Rewards and Cash Rewards for Business MasterCard credit cards that reward customers with up to 3 percent cash back on certain purchases. In addition, the BankAmericard Cash Rewards card includes a 10 percent bonus when customers deposit their cash rewards into their Bank of America checking or savings account. Both cards have no expiration on rewards."

MealpayPlus Reaches One Million Registered Users

Mealpayplus logo 140pxHorizon Software International has announced that MealpayPlus became the first K-12 school online payment system to reach over 1,000,000 registered users.

School districts value the reduction in time associated with collecting cash and checks at the school, significant paper cost savings, as well as the decrease in parent calls concerning payments and student account balances.

MealpayPlus is used in over 11,000 schools nationwide.

Text2Pay Enables In-App Payments for Android with Tap2Pay

Tap2Pay logoText2Pay has announced Tap2Pay, their in-app payment solution for Google Android.

In-app payments are instantly made available to consumers once Tap2Pay is integrated into the mobile developer’s application. With 95-100% coverage in over 70 countries, the ability to process transactions in 60 currencies and localization support for 49 languages, there is no need for any additional development work. Tap2Pay offers single tap purchasing through carrier billing, built-in support for one-off and subscription items along with virtual currency and virtual goods transactions.

Headline News - September 1, 2011

On the web:

On the wires:

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

August 31, 2011

Paying Baby Sitters with Credit Cards

Sitterpals logo 140x60pxSitter Pals has announced that it now offers parents the convenience and ease of paying babysitters with credit cards through their partnership with Square. This partnership also illustrate a good use case for the recently announced Square Card Case.

For regular families the sitter babysits for, they can utilize Square’s Card Case to pay through identity and payment details stored in their account, without even having to pull out their credit cards.
The Sitter Pal value proposition to parents is simple -- no need to go by the ATM machine for cash and a great opportunity to earn credit card rewards on baby sitting spending volume!

U.S. Bank First Top Ten Bank to Implement Secure Vault Payments

USBank logo 140pxU.S. Bank has announced the implementation of Secure Vault Payments (SVP), a "new consumer online payment option, for the University of Wisconsin-Stout, Wisconsin's Polytechnic University. UW-Stout students and parents are able to initiate online tuition payments with SVP using a consumer online bank account at U.S. Bank or any Secure Vault Payment-enabled financial institution."

Shadowy Figures: Tracking Illicit Financial Transactions

BakerInstitute logo 140pxA new report entitled "Shadowy Figures: Tracking Illicit Financial Transactions in the Murky World of Digital Currencies, Peer-to-Peer Networks, and Mobile Device Payments" has just been published by the James A Baker III Institute for Public Policy.

The combination of the enormous growth in social networks, the complexity of peer-to-peer systems and software, and the number of Internet and wirelessly connected devices is altering the landscape of financial transactions at a rate and to a degree that is unprecedented.
The report (PDF) -- co-authored by Christopher Bronk, John Villasenor, and Cody Monk -- explores the state of money laundering in the digital age.

PaymentOne Partners with Telefonica Germany for Direct Mobile Payments

PaymentOne logo 140pxPaymentOne has announced a direct carrier billing relationship with Telefonica Germany. "Telefonica Germany is part of Telefonica SA, a leading provider of broadband and mobile services and the second largest carrier group in the world. The mpass system -- driven by Telefonica Germany, Telekom and Vodafone -- enables merchants to accept direct carrier billed payments for virtual, digital and physical goods."

August 30, 2011

Silicon Valley Bank Introduces International Online Payment Service

Silicon valley bank logo 140pxSilicon Valley Bank (SVB) has announced a new service that will allow its clients to accept 85 different online payment types from their customers globally.

"Our tech-focused clients are selling internationally, even at their earliest stages, so we make every effort to make it easy for them to operate globally," said Pradeep T. Moudgal, Head of Global Cards and Merchant Services, Silicon Valley Bank. "Our clients will find our new payments service is extremely convenient, giving them the ability to deposit funds of any major currency directly into their SVB multi-currency or in-country accounts."

SVB's card processing services are provided through Merchant e-Solutions and Adyen, its international card processing partner.

Payments Views - Friction, Fat Pigs, and Mobile Commerce

GP Logo Horizontal 140pxOver on our sister blog, Payments Views, Glenbrook's Russ Jones takes a look at purchase friction in mobile commerce and wonders if the industry's fascination with mobile coupling isn't missing the point.

In practice, sellers will use any number of tactics to group buyers with different price sensitivities into different categories. Many of these tactics are based on adding friction to the buying process in order to distinguish the price sensitive customer (who will endure the inconvenience to get the better price) from the non-price sensitive customer (who values convenience).

Fiserv Introduces Mobiliti for Mobile Banking, Alerting, Payments

Fiserv logo 60pxhFiserv has announced the 'Mobiliti' suite of products for mobile banking, mobile alerts, and mobile payments.

Mobiliti unites the functionality of Mobile Money from Fiserv and BankAnywhere from the recently acquired M-Com within a single product suite, and will replace both of those product brands. Mobiliti is available in multiple distinct versions tailored for use by financial institutions of varying sizes within both the United States and international markets.

Mobiliti supports all three major mobile access modes -- SMS, mobile browser, and downloadable app.

VeriFone Announces Direct Sales and Service Strategy in Continental Europe

Verifone logo 140pxVeriFone has announced a "new direct distribution relationship for retailers, acquirers and processors in Germany, Italy, France, Spain, Austria and Switzerland. These organizations will now be able to obtain products, services, support and value-added solutions directly from VeriFone."

Current Opportunities on PaymentsJobs.com

PaymentsJobs logo 140pxSeveral new positions for payments professionals have recently been posted to Glenbrook's payments industry job board in August:

Is 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!

August 29, 2011

PCI Security Standards Council Releases Updated Wireless Guidelines

PCI Council logo 140pxThe PCI Security Standards Council has announced an update to the PCI DSS Wireless Guidelines Information Supplement, providing organizations with the current PCI DSS considerations for implementing wireless technology securely in payments environments. The supplement adds guidance specific to Bluetooth technologies and rogue wireless access points.

Dwolla Readies Proximity Payments Tool, Proxi

Dwolla logo 140pxDwolla has a announced a new feature in their mobile money app called 'Proxi' that "allows Dwolla users to exchange funds with people and merchants in their proximity without the need for cash, cards or near field communication (NFC) technology." TechCrunch has a nice overview.

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