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February 28, 2012

Payments Views - BOKU Jumps Into The Mobile POS Skirmish

GP Logo Horizontal 140pxOver on Payments Views, our sister blog, Glenbrook's Russ Jones explores BOKU's entry into the mobile POS skirmish.
We recently sat down (virtually) with BOKU to learn more about how the company views the mobile payments market and where BOKU Accounts fits in the emerging mobile POS landscape. What follows is a summary of what we learned and our reaction to the their strategy and approach.

BOKU's announcement is here; our analysis is here.

First Data OfferWise Solution to Streamline Offer Redemption Process at POS

First data logo 140x60px First Data has announced the availability of First Data OfferWise, a new open platform that dramatically simplifies the offer redemption process at the POS for consumers and merchants.
The First Data OfferWise solution allows offer publishers to electronically attach offers such as deals, eCoupons and loyalty programs to one or more of a consumer’s payment cards or mobile wallet to enable streamlined and automatic redemption of the offer at the point of sale (POS). First Data is currently piloting its OfferWise solution with dozens of merchants and it will be made available to its more than four million U.S. merchant locations.
OfferWise leverages on a "breakthrough API" developed by CardSpring that allows developers easily integrate their own offers and promotions into the OfferWise solution.

Oberthur to Acquire Mobile Money Provider MoreMagic

Oberthur logo 140x60pxOberthur Technologies has entered into agreement to acquire MoreMagic Solutions, a mobile financial services solutions provider, based in Waltham, MA.
Xavier Drilhon, CEO of Oberthur Technologies: “The acquisition of MoreMagic is fully in line with our growth strategy notably in our Solutions business and more specifically in the NFC eco-system. The complementarities between our respective technological bricks and Oberthur Technologies’ TSM expertise will perfectly fit the needs of our clients, in both mature and developing countries.”

This acquisition remains subject to the consultation of employees work council and other customary approvals, including from relevant antitrust authorities.

JP Morgan Chase 2012 Investor Day Presentations

JPMorganChase logo 140pxJP Morgan Chase held its 2012 Investor Day in New York City today with presentations given by Jamie Dimon, Chairman and Chief Executive Officer, and members of executive management. Copies of the presentations are available online, including one on Chase's credit card business (PDF) given by Gordon Smith.

Amdocs Launches Cloud-Based Mobile Payments Solution

Amdocs logo 140x60pxAmdocs has announced the launch of Amdocs Mobile Payments, a new solution that offers consumers the convenience of charging purchases directly to their mobile phone bill, prepaid balance or mobile wallet.
"Today's shopping experience is increasingly mobile and consumers prefer the convenience of mobile payments settled on a carrier bill rather than disclosing their credit card details to unknown retailers," said Brian Shepherd, Amdocs division president. "Mobile payments using prepaid balance are often the most attractive payment option for young and unbanked consumers who want to participate in the digital economy. Mobile network operators are uniquely positioned to take advantage of their billing relationships with their consumers to enable them to do more in the connected world."

February 27, 2012

Chase, Capital One and Barclaycard to use Isis Mobile Wallet

Isis logo 140x60pxIsis has announced that Chase, Capital One and Barclaycard have entered into agreements to enable their credit, debit and prepaid cards to be placed into the Isis Mobile Wallet.
“Today’s announcement is testament to the vision and commitment of Chase, Capital One and Barclaycard to make mobile commerce a real and positive experience for their customers,” said Michael Abbott, CEO, Isis. “Mobile commerce is more than a new way to pay; it’s about extending the relationships consumers enjoy with their banks and merchants into a powerful and convenient new form factor.”
Isis is the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless.

Voltage Security Mobile Plus Initiative

Voltage logo 140pxVoltage Security has announced Voltage Security Mobile Plus, a multi-faceted initiative to extend its existing security solutions into the world of mobile devices, applications and data.
“The Voltage Security Mobile Plus initiative builds on our leadership in delivering data-centric encryption to the largest companies in the world,” said Mark Bower, vice president of product management at Voltage Security. “We are taking our expertise in data-centric security, and our encryption and key management leadership, and building a comprehensive set of data-centric mobile security solutions for email, files, data and payments security.”

ROAM Data Gets Investment and Strategic Partnership from Ingenico

Roam data logo 140pxROAM Data has announced that Ingenico has invested in the company to further fuel its growth and to jointly offer its mCommerce solutions to payment service providers worldwide.

“We are thrilled to have the trust and support of Ingenico’s team. Their recognized expertise in payments and global reach will greatly bolster our growth plans,” said CEO of ROAM Data, Will Graylin. “This new investment will provide us the fuel to create even more mobile commerce innovations and to deliver the best solutions possible to partners and customers around the world.”

ROAM DATA claims it is "behind a vast majority of the encrypted mobile card readers shipped in the past year."

Visa to Move to New Acquiring Fee Structure

Visa logo 60pxhWhile vague on specifics, Visa has announced to investors that it is changing its acquiring side fee structure in April.
First, Visa will lower variable acquirer processing fees for all Visa-branded products and across all merchant segments, including small merchants. Second, we are expanding acquirer and merchant incentives to further lower merchants’ processing costs. Third, Visa is implementing a new Fixed Acquirer Network Fee that will be assessed to acquirers based on both the merchant’s size and its number of locations.

Digital Transactions News talked to a number of sources and was able to piece together a more complete picture.

VeriFone Enables Mobile Network Operators to Manage Wallet Acceptance

Verifone logo 140pxVeriFone has announced the PAYMEDIA Universal Acceptance Platform (UAP), a complete suite of services and software that enables Mobile Network Operators (MNOs) to manage mobile wallet acceptance at merchant systems.
“The missing element in MNO’s mobile wallet plans has been the lack of focus on how to provision, integrate and manage wallet and value-added acceptance apps at merchants’ systems,” said Paul Rasori, VeriFone senior vice president of marketing. “VeriFone's PAYMEDIA UAP bridges that gap in the NFC ecosystem by managing the complexities of mobile commerce acceptance and ensuring a seamless buying experience no matter what wallet, app or program consumers bring to stores.”

February 23, 2012

AmEx Moves Ahead of MasterCard in U.S. Purchase Volume

Amex logo 140pxThe Nilson Report has announced that American Express overtook MasterCard to gain second place among credit card brands in the U.S., based on spending at merchants.
“This is the first time since MasterCard was known as MasterCharge back in the 1960s, that American Express has experienced more purchase volume,” said David Robertson, publisher of The Nilson Report. While purchase volume increased for all four card brands (Visa, Amex, MasterCard, and Discover), American Express credit cards had an increase of 13.4% to $540 billion dollars, vs. an increase 6.1% to $508 billion for MasterCard credit cards.

BOKU Launches Complete Mobile Payments Platform for Mobile Operators

Boku logo 140x60pxBOKU announced that it is expanding its payments technology to cover retail point-of-sale with BOKU Accounts.
“BOKU Accounts brings together the best parts of mobile payments and technology, leveraging NFC, smartphones and global payment networks for a better consumer experience.” Said Mark Britto, BOKU CEO. “We are leveraging the power of the device in your pocket to improve every transaction you make, anywhere in the world, and helping our MNO partners expand into the off-line world, while bringing tremendous value to their subscribers and merchants alike.”
In related news, MasterCard announced its partnership with BOKU in this endeavor.

TIO to Launch Cloud Wallet for North America’s Underbanked Population

Tio logo 140x60pxTIO Networks has announced it will launch a cloud-based wallet platform, TIO Wallet, designed to help the estimated 60 million Americans who have limited access to mainstream financial products.
“Finally, a Wallet designed from the ground up to meet the evolving needs of the underbanked consumer,” said Hamed Shahbazi, Chairman and CEO of TIO Networks. “The vast majority of TIO’s $1B worth of transactions per year, support the underbanked marketplace. We know what is important to this customer and are proud to serve them.”

PULSE and Obopay Collaborate to Provide Real-time Payment Solution

Pulse logo 140pxPULSE has announced an agreement with Obopay to enable real-time money transfer capabilities for PULSE financial institution participants.
“Combining our extensive debit network with Obopay’s broad range of mobile money solutions gives consumers a faster and more efficient way to pay with their debit card, while also enabling new revenue generating opportunities for our participants,” said Judith McGuire, Executive Vice President of Product Management at PULSE. “A growing number of mobility-minded consumers require instant payments and transfers. The agreement with Obopay is one way we can help facilitate that for our financial institutions and their account holders.”

Chase Invests in Mobile Payments Provider GoPago

Chase logo 140pxChase has announced that it has invested in GoPago, a provider of a mobile payments service that allows consumers to remotely browse, order, and pay for local goods and services.
“Chase is committed to giving consumers and businesses a great shopping experience, leveraging the latest advances in mobile payment technologies,” said Jack Stephenson, director of mobile, e-commerce and payments at Chase. “GoPago will allow us to create powerful new value propositions for businesses and consumers.”

MasterCard Launches Partnership Program for Mobile Money Services

MasterCard logo 140pxMasterCard has announced a global initiative called the MasterCard Mobile Money Partnership Program to help financially-underserved consumers gain access to financial services through their mobile phones.
“With about five billion mobile phone users worldwide, this program provides powerful, smart and convenient new payment options to people through a device that’s already in the palm of their hands today,” said Mung Ki Woo, Group Executive, Mobile, MasterCard Worldwide. “Our approach is to work with all leading players in the Mobile Money ecosystem to bring the benefits of electronic payments to those who otherwise wouldn’t have access to formal financial services. Comviva, Sybase 365 and Utiba are key strategic platform partners to help implement this vision.”

February 22, 2012

WorldPay Offers BOKU as a Mobile Payment Method

Boku logo 140x60pxBOKU announced that Payment Service Provider (PSP) WorldPay has selected BOKU as its global mobile payments partner, integrating BOKU’s payments platform into its payment network.
“WorldPay is a leading payment service provider with an outstanding network of merchants,” said James Patmore, SVP and Managing Director, BOKU. “Our technology helps do the hard work for our merchants, things like foreign exchange, granular price points, multiple currencies & languages, and more. We believe BOKU offers WorldPay merchants a powerful tool for the acquisition of new customers and an opportunity to enhance their purchase experience, leveraging the convenience of BOKU for all types of digital goods and services.”

Visa and Monitise to Introduce Mobile Payments Services in India

Visa logo 60pxh Movida, a mobile payments joint venture backed by Visa and Monitise, announced it has signed an agreement with HDFC Bank, India’s second-largest private bank, to introduce a new mobile payment service in India.
Naushad Contractor, Movida’s President and head of the Monitise and Visa joint venture in India, commented: “This is a service designed for Indians. As we rollout the service to other banks more Indians will be able to benefit from mobile payments. Wave goodbye to waiting in long queues or visiting post offices or payment machines to pay bills as you will now be able to do that right from your mobile phone. This service is going to drastically reduce the time & energy Indians waste every day waiting to pay bills.”

ThreatMetrix Launches TrustDefender Mobile

ThreatMetrix logo 140pxThreatMetrix announced the launch of a new mobile software development kit (SDK) that helps identify fraudulent transactions originating from mobile applications. "The new product, called TrustDefender Mobile, expands on ThreatMetrix’s already established malware detection and cookieless device identification technology for laptops and desktop computers. The same risk-based fraud screening capability that is available to browser-based transactions is now available to mobile applications."

U.S. Credit Card Delinquencies Fall Nearly 5% in 2011

TransUnion logo 140pxTransUnion has announced that "the national credit card delinquency rate (the ratio of borrowers 90 or more days past due) reached 0.78% in the fourth quarter of 2011, a drop of almost 5% from the same period one year ago and continuing well below historical norms. Average credit card debt per borrower increased $239 from the same period last year to $5,204, though it too remains near record-low levels."

February 21, 2012

UK Payments Council To Build Mobile Payments Platform

Payments council logo 140pxThe Payments Council has announced it is funding the development of a centralized database to facilitate mobile payments innovation in the UK.
The Payments Council is building a central database that will allow customers to link their mobile phone number to their account details, regardless of who they bank with. It will be available to UK banks and building societies before the end of this year as a platform for them to build their own competitive service for their customers. VocaLink has been appointed to build the central database.

Elavon Introduces Global E-commerce Gateway Solution

Elavon logo 140pxElavon announced that it has partnered with DataCash, a MasterCard Company, to launch Elavon’s Global E-commerce Gateway solution in Europe.
“The combination of Elavon’s acquiring experience, processing reach, and financial stability, with DataCash’s gateway expertise, fraud controls and unmatched connectivity results in a win-win for our customers,” said Simon Haslam, president of International Markets, Elavon. “We are pleased to be able to provide one point of service and support to our clients as their global commerce needs evolve.”

PaymentOne Introduces HTML5 Mobile Payments API for Direct Carrier Billing

PaymentOne logo 140pxPaymentOne announced its support for the emerging HTML5 standard and the immediate availability of the PayOne HTML5 API. "The PayOne HTML5 API provides an HTML5-compliant Web-based payment flow for developers of mobile games and applications looking to monetize their offerings across all platforms and devices with a highly secure and frictionless 'charge it to my mobile phone bill' payment method."

PreCash Adds Savings Account to Its Vision Visa Prepaid Cards

Precash logo 140x60pxPreCash has announced that it has added three features to its Vision Visa Prepaid Cards.
"Like Americans with banking relationships, prepaid customers want optional services associated with their cards. PreCash developed these features: a savings account for people to plan for the future, roadside assistance to provide them with comfort in the case of car emergencies, and cash back on gas purchases to reward them for using the card," remarked Mia Mends.

Americans Owe Less on Their Credit Cards

Equifax logo 140pxEquifax reported today that nearly 60 of the top 100 metropolitan statistical areas (MSAs) hardest hit by credit card debt realized double-digit declines in the percentage of income owed to credit card companies -- up to 24% in some areas.
The reduction in U.S. consumer credit card debt began a steady decline in the fourth quarter of 2010 that continued through the end of 2011, as consumers remained cautious of their spending and focused on deleveraging debt. Consumers owed up to 17% of their income to credit card companies in 2010, according to Equifax's analysis.

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