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May 31, 2012

IEEE Spectrum - A Special Report On The Future of Money

Ieee spectrumIEEE Spectrum has published a special report on The Future of Money, taking a look at the history of money and how "mobile, encryption, and other technologies let us plug directly into the digital economy." Over a dozen articles in total. Nicely done.

Money See, MoneyDue

Intuit logo 140pxIntuit has launched MoneyDue, a free app that turns business appointments into payment reminders on iPhone and iPod Touch devices. "The new app from Intuit PaymentNetwork uses the calendar feature on the iPhone or iPod Touch to convert calendar appointments into payment reminders, and gives small business owners the ability to see payments owed and payments received through their calendar appointments."

May 30, 2012

doxo Delivers Single-Click Mobile Bill Payment

Doxo logo 140pxdoxo announced the launch of a new single-click mobile bill payment capability, and added a new smart phone app, doxo Mobile for Android, to its existing iPhone mobile app.
“The doxo mission is to massively simplify the experience of interacting with providers and paying bills. The new capabilities of our mobile app make bill paying simpler than ever. So simple, in fact, that doxo users are paying their bills an average of 10 days sooner than they would through traditional mail,” said Steve Shivers CEO of doxo. “doxo Mobile takes the hassle out of bill payment, and provides an innovative, free service for businesses to offer to their customers, without having to develop their own app.”

CorFire and edo to Connect Purchase Data and Targeted Offers via Mobile

Edo logo 140x60pxCorFire and edo have announced that they will integrate the edo card-linked offers platform with CorFire’s mobile wallet solution and suite of mobile marketing services, which includes loyalty and gifting.
“Consumers want simple and relevant offers that are easy to redeem and fit their mobile lifestyle, while advertisers are searching for solutions that will position them to meet this demand in a profitable and measurable way,” said Ed Braswell, CEO and president of edo. “Our partnership with CorFire will allow marketers to easily target based upon transaction behavior – creating the new standard for in-store mobile advertising.”

BOKU And T-Mobile USA Partner For In-app Purchases In Carrier’s App Store

Boku logo 140x60pxBOKU has announced that it is an approved carrier-billing gateway for the T-Mobile Mall.
“Our merchants find significant value in the high conversion rate of mobile payments with in-app purchases.” said Ron Hirson, President of BOKU. “By combining our bank-grade technology with the access to millions of customers who regularly use the T-Mobile Mall, we’re confident this global billing and distribution method will add tremendous value to game developers seeking a wider audience and increased revenue.“

May 29, 2012

Payments Views - PayPal’s Offline World Domination?

GP Logo Horizontal 140pxOver on Payments Views, Glenbrook's Erin McCune recently blogged about PayPal latest merchants and partners in its push to enter the world of "offline" payments. In addition to reviewing what PayPal said, she also explores what PayPal did not say.

PayOne Partners with T-Mobile USA for Direct Mobile Payments

Payone logo 140px PayOne, formerly PaymentOne Corporation, has announced a direct carrier billing relationship with T-Mobile USA.
"PayOne's agreement with T-Mobile further expands our worldwide PayOne Global Carrier Network™ (PGCN) and direct footprint, and provides the broadest global reach, and best payout rates to our merchants," said Brad Singer, executive vice president of PayOne. "We are pleased to be working closely with T-Mobile to expand mobile payments, as T-Mobile has always been an innovator, and to provide their consumers with a simplified experience for life's regular habits."

Elavon MobileMerchant Enables Commerce on the Move

Elavon logo 140pxElavon has announced the full production release of MobileMerchant in the UK, which pairs a mobile POS app with a Chip and PIN card reader.
“Elavon is committed to delivering solutions that enhance business opportunities for its customers, of all sizes, helping to make them more efficient and more profitable. This solution is perfect for the thousands of very small, often mobile, businesses in the UK today. Such businesses have previously not been able to accept card payments easily or cost effectively,” commented Guy Harris, Managing Director, Europe. “Not only does our solution enable mobile commerce but it has in-built EMV Chip and PIN security, so small business owners and their customers are fully protected,” Harris concluded.

May 24, 2012

PayPal Announces Next Wave of Partners for In-Store Checkout

PayPal logo 140x60pxPayPal has announced the next 15 national retail partners that will be testing PayPal In-Store Checkout.
In every market we’ve entered PayPal has changed the game. We did it for online payments in 1998, creating a business from nothing and building it to one with more than $118 billion in total payment volume last year. We were the first major player to enter the mobile space in 2006 and we plan to exceed $7 billion in mobile payment volume this year. And we’re on track to change the game again in offline payments.
In related go-to-market news, PayPal also announced POS partnerships with terminal providers VeriFone (press release, website details) and Equinox (press release) as well as mid-market POS software providers Leapset, ShopKeep (video), Vend (video), and Erply (video).

Protegrity Announces Vaultless Tokenization for Payments Industry

Protegrity logo 140x60px Protegrity has announced Protegrity Vaultless Tokenization for the Payments Industry, the a new lightweight tokenization solution that can scale without the cost and complexity of backend database infrastructure.
"Today's tokenization has failed the payments industry, requiring companies to create homegrown solutions or turn to limited vendor offerings that stifle their ability to effectively secure massive amounts of data across their full client base," said Suni Munshani, CEO of Protegrity. "With this announcement, Protegrity enables processors and gateways to remove their customers' financial, operational and security burden of dealing with toxic PAN data, while scaling across thousands of merchants."

Wells Fargo Launches Simplified P2P Money Transfer Service Nationwide

Wells fargo logo 140pxWells Fargo has announced the launch of Send & Receive Money, a new service that simplifies Wells Fargo customers’ payments to other Wells Fargo and Bank of America customers through online and mobile banking using an email address or mobile phone number.
“Customers want options and convenience,” said Brett Pitts, senior vice president at Wells Fargo’s Internet Services Group. “With Send & Receive Money customers can send payments electronically to others without having to know their sensitive financial information, such as bank account numbers. As mobile money transfer becomes more common, remembering multiple account numbers will be harder. Send & Receive Money allows customers to pay another person using information they typically either know or have programmed on their phone.”

Video overview is here. Wells Fargo is the first bank to roll out nationally the clearXchange service for person-to-person payments.

MasterCard Loses Card Fee Challenge in Europe

MasterCard logo 140pxReuters is reporting that "Mastercard lost a challenge to an EU ban on its cross-border card fees in a ruling that puts rival Visa Europe squarely in the sights of European regulators over its charges." MasterCard has issued a statement to the effect that the court's decision will "ultimately make payments more expensive for consumers".

May 23, 2012

MasterCard Mobile POS Acceptance Guidelines

MasterCard logo 140pxMasterCard has announced a global initiative called the MasterCard Mobile Point-of-Sale (MPOS) Program that will provide best practices to mobile point-of-sale solution providers and merchants.
“The boom in mobile devices provides a huge opportunity for innovation across all industries – including payments,” said James Anderson, Group Head, Mobile, MasterCard Worldwide. “With nearly 6 billion mobile subscriptions around the world, there is tremendous potential to grow merchant acceptance – it’s imperative that manufacturers, vendors and merchants maintain the highest standards to enable a seamless and secure purchasing experience.”

The guidelines are available for download here.

May 22, 2012

Zynga and American Express Launch Zynga Serve Rewards Program

Amex logo 140pxAmerican Express and Zynga have announced the launch of Zynga Serve Rewards, a new program that is tied to the Serve digital wallet.
“We’re thrilled to expand our relationship with Zynga and provide an easy way for players to earn Zynga virtual game cash by learning about Serve and signing up to receive the many benefits of our digital wallet,” said Dan Schulman, President of Enterprise Growth, American Express. “As the commerce landscape continues to change, and online and offline spending converges, Serve is focused on partnering with companies like Zynga to create unique value for our customers in the environments they love.”

Survey Says Small Businesses Not Accepting Cards Miss Out on $100 Billion Per Year

Intuit logo 140pxAccording to a recently released Intuit GoPayment survey, 55% of the nation’s 27 million small businesses do not accept credit cards.
Intuit estimates that each business that does not accept plastic misses out on approximately $7,000 in sales annually, equating to approximately more than $100 billion in collective lost revenue. This missed opportunity represents a combination of new sales and sales that go to other businesses that accept credit cards.

May 21, 2012

MasterCard to Foster Industry Collaboration on EMV Migration

MasterCard logo 140pxMasterCard has proposed the formation of a cross-industry group designed to foster collaboration and alignment between networks, issuers, merchants, acquirers, processors, terminal manufacturers, card manufacturers and other groups in the implementation of EMV technology in the United States.
“We recognize that this next step toward a world beyond cash has raised a number of questions among our customers from baseline standards to timelines and implications,” said Chris McWilton, president, U.S. Markets, MasterCard. “Industry collaboration has proven to be critical to the successful migration to EMV in other parts of the world. It’s our goal to bring the industry together in an objective forum. This will continue to move the U.S. forward and allow all to gain the maximum advantage from the upgrade to EMV.”

May 17, 2012

MasterCard, C-SAM Partner on Wallet for Asia Pacific, Middle East and Africa

MasterCard logo 140pxC-SAM and MasterCard have announced a joint initiative to offer a white-label mobile wallet solution based on C-SAM’s flexible Mobile Transaction Platform (MTP) integrated with MasterCard’s pre-paid platform, offers, PayPass Wallet Services and rich informational services.
“Our partnership with C-SAM offers telcos in the region a NFC solution that comes pre-packaged with prepaid instance issuance, TSM integration and coupon redemption at the point of sale and offers a path to a truly multichannel payment wallet through PayPass Wallet Services,” said Raj Dhamodharan, Regional Head of Mobile and Ecommerce for Asia Pacific, Middle East & Africa for MasterCard.

Survey Says Millennials Use Alternative Financial Services Regardless of Income Level

Survey graphic 140pxA study released by Think Finance surveyed 640 Millennials who have used some type of alternative financial services product within the last year and earn less than $75,000 in annual income.
A new survey of underbanked Millennials – 18-34 year olds who supplement their bank accounts with alternative financial services such as prepaid debit cards or check cashing – challenges the stereotype of alternative financial service users as the poorest members of society who are forced to turn to alternative products. The survey found that underbanked Millennials with mid – high levels of income are using alternative financial services at rates similar to, and in some cases higher than, their lower-income peers.

Lots of interesting numbers.

May 16, 2012

Jumio Releases Card Capture Scanning SDK for Mobile Apps

Jumio logo 140x60Jumio has announced the release of its Mobile Software Development Kit (SDK).
The Netswipe Mobile Software Development Kit (SDK) is a fast and easy way to implement reliable credit card capturing into mobile apps. There is no need for extra hardware, and it is available for iOS. Android will follow soon.

Jumio also announced they are giving away $5 Million worth of scanning fees to support young Start-ups and the developer community.

Cardlytics Brings Transaction-Driven Marketing to Credit Card Portfolios

Cardlytics logo 140pxCardlytics has announced the release of “Cardlytics for Credit,” an integrated suite of technology and services that enable financial institutions to effectively leverage transaction marketing to strengthen relationships with their credit card customers.
“Until now, the broad category of ‘merchant-funded rewards’ for credit cards has simply not produced meaningful results for retailers or banks,” said Scott Grimes, CEO of Cardlytics. “Because of our reach into 70 million households’ checking accounts and their associated high transaction debit card volume and frequent online access, we are well positioned to now leverage our massive scale in checking/debit to bring rich content to credit.”

Digital River to Provide Developers with Access to Cloud Commerce APIs

Digital river world payments logo 140pxDigital River has announced 'Digital River Connect' to provides developers with access to its Global Commerce and Commerce Express application programming interfaces (APIs) and enables commerce-as-a-service (CaaS).
“An open and accessible API is a critical component of today’s digital ecosystems,” said James Gagliardi, Digital River’s vice president of product and innovation. “We’ve designed the Digital River Connect technology from the ground up to set the standard in this area. It combines the power and capabilities of our enterprise-level solutions with a new, easy-to-use interface that lets developers become productive quickly – fostering a rapid onboarding process with an integrated test console that lets developers learn about our APIs and start using them in a single, seamless experience.”

TSYS Unveils Its Agenda for Connected Mobility

Tsys logo 140pxTSYS announced its agenda for connected mobility to support commerce for digitally active consumers — those accustomed to navigating their daily lives with smart phones, tablets, game systems, electronic readers and computers.
“Two years ago the devices of choice were smart phones; now they are tablets. Regardless of the devices used tomorrow, our focus on people-centered payments paves the way for this agenda, with functionality to support mobility, applications and commerce across any device,” said Paul Bridgewater, group executive of Global Product, TSYS. “Today’s consumers prefer trusted alternative channels for increased mobility to facilitate online business and commerce — and they expect security, reliability and a seamless purchase experience that is simple and intuitive. This agenda truly puts people at the center of payments.”

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