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« October 23, 2011 - October 29, 2011 | Main | November 6, 2011 - November 12, 2011 »

November 03, 2011

doxo Expands Capabilities of doxoPAY

Doxo logo 140pxdoxo has announced new features of doxoPAY, including automatic payment with limits.
With doxo’s auto pay, people can schedule automatic payments for bills they receive in their doxo accounts, without needing to link out to multiples sites to set up payment credentials for each business. With the new limit feature of auto pay, consumers can set a maximum amount to be automatically paid. For example, people can choose to auto pay a phone bill as long as it does not exceed $100. If the amount due exceeds the limit set, the consumer is instantly alerted so they can review the details of the bill before making that payment.

NetBanker has a good reaction piece. More details on the doxo website.

SCVNGR's LevelUp Mobile Payment Solution on T-Mobile Nationwide

Levelup logo 140pxSCVNGR today announced that it has successfully deployed its new 'LevelUp' mobile payments solution to consumers and businesses over T-Mobile's nationwide 4G network.
The combination of a smartphone; the unique, free downloadable LevelUp application; personalized QR codes; and America's Largest 4G Network brings loyalty, rewards and payments together into one seamless pay-by-phone system.
More information is on the LevelUp website.

November 02, 2011

MasterCard Announces 3Q2011 Financial Results

MasterCard logo 140pxMasterCard has announced financial results for the third quarter 2011.
  • Net revenue for the third quarter of 2011 was $1.8 billion, a 27.3% increase versus the same period in 2010. On a constant currency basis, net revenue increased 23.8%.

  • Worldwide purchase volume during the quarter was up 17.2% on a local currency basis versus the third quarter of 2010, to $628 billion. As of September 30, 2011, the company’s customers had issued 1.7 billion MasterCard and Maestro-branded cards.

  • Cross-border volume was up 19.3%.

Press release, supplemental operating results, and an accompanying investor presentation are available on the MasterCard website.

First Data Reports 3Q2011 Financial Results

First data logo 140x60pxFirst Data has reported its financial results for 3Q2011. Consolidated revenue for the third quarter increased $99 million to $2.7 billion, up 4% compared to $2.6 billion a year ago. "Revenue growth was primarily attributable to increases in debit network fees and favorable impacts of changes in foreign currency. Adjusted revenue, which excludes certain items including reimbursables, increased $37 million, or 2%, year-over-year to $1.7 billion."

Visa Expands SavingsEdge Program for Small Businesses

Visa logo 60pxhVisa has announced the expansion of Visa SavingsEdge, a program that provides automatic discounts on qualifying small business expenses. "The program now includes more than 1,600 financial institutions and 39 participating merchants and is now available to 24 million eligible small business account holders in the U.S. Participation in the program is free for Visa small business account holders."

American Express Launches First Prepaid Campus ID Card

Amex logo 140pxAmerican Express has announced the launch of the University of North Florida’s (UNF) Osprey 1Card, the company’s first prepaid campus ID Card. "Starting today, all current and new UNF students can obtain an Osprey 1Card with American Express prepaid functionality embedded in the card, allowing students the ability to use their ID Card for on campus dining meal purchases and off campus at the millions of locations around the world that accept American Express Cards."

TapBuy Brings Simplified Mobile Checkout for Remote Purchases

Tapbuy iconSeveral media outlets are reporting on a new mobile checkout technology from Kima Labs called TapBuy Deals. The app stores the buyers card details and shipping information and then uses that data to emulate the checkout process on supported merchant sites. Internet Retailer has a quick overview; TechCrunch has a bit more detail. More details about TapBuy Deals is available on the Kima Labs site.

November 01, 2011

VeriFone Acquires Global Bay to Expand Retail Mobility Strategy

Verifone logo 140pxVeriFone has announced it has acquired Global Bay Mobile Technologies, a provider of mobile retail solutions. Terms of the transaction, which closed effective today, were not disclosed.
“Global Bay’s mobile retail applications complement our vision to deliver rich commerce solutions that open up new opportunities for merchants to engage their customers in deeper, more meaningful ways that will generate increased profitability and shopper loyalty,” said Jennifer Miles, VeriFone executive vice president, North America. “Retailers and consumers can continue to look to VeriFone to provide the most sophisticated and secure commerce experiences.”

More about Global Bay: http://verifone.globalbay.com

Glenbrook and the Financial Women's Association of San Francisco

GP Logo Horizontal 140pxGlenbrook's Erin McCune is moderating a mobile payments panel at the Financial Women's Association of San Francisco on Monday November 14th that will feature executives from Wells Fargo, BilltoMobile, Obopay and mFoundry. Topics include the myths and realities of mobile offers and couponing, how to ensure consumer adoption success at the point-of-sale, and how mobile payment schemes have supplanted traditional banking in emerging markets.

Bank of America Will Not Implement Debit Usage Fee

BankofAmerica logo 140pxIn response to customer feedback and the changing competitive marketplace, Bank of America has announced that it no longer intends to implement a debit usage fee.
“We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” said David Darnell, co-chief operating officer. “Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.”

In related news, Wells Fargo also announced that they were canceling their $3 per month debit card usage fee pilot.

October 31, 2011

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