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June 19, 2012

Facebook Transitions 'Credits' to Currency

Facebook logo 140pxFacebook announced on their developers blog that they plan to add support for subscription billing and local currency pricing.

Since we introduced Credits in 2009, most games on Facebook have implemented their own virtual currencies, reducing the need for a platform-wide virtual currency. As a result, we are updating our payments product to support pricing in local currency (ex: US dollar, British pound and Japanese yen) instead of Credits.

Subscription billing will use the traditional 30-70 rev share split.

Square Introduces New Loyalty Features

Square logo 140px Square has announced the launch of new loyalty features for Square Register and Pay with Square that further deepen the relationship between buyers and sellers.

Since Square Register's launch in March, Square Register users are five times more active on a weekly basis than Square Card Reader users and they process approximately 2x more revenue. Square's latest offering will allow participating merchants to give regular customers VIP treatment starting with the first visit. Customers will be able to store cards from their favorite Square businesses and keep track of progress towards rewards.

Fiserv Taps Into Tryvertising Trend to Drive E-Bill Adoption

Fiserv logo 60pxh Fiserv announced the launch of 'E-bill Introduction', a new feature within the CheckFree® RXP payment suite.

E-bill Introduction offers consumers an opportunity to receive electronic bills (e-bills) via their online banking service for an introductory period during which they also continue to receive paper bills in the mail. Pilots of the feature conducted with five financial institutions delivered solid results, with consumers enrolled in the pilot activating three times more e-bills than consumers who were not enrolled.

Report Says 1.5% of Airline Online Booking Revenue Lost to Fraud

Worldpay logo 140px A global 'Perfect Passenger Payment' insights report, commissioned by WorldPay, finds that 66% of airline merchants are seeing fraud levels stay the same or increase as they lose 1.5% of booking revenue to fraudulent transactions. 29% of airlines reported that incidents of fraud have risen in the past year.

The good news for airlines is that customers are happy to accept a robust screening process when buying tickets online. 71% of consumers would prefer a slower payment process with more rigorous security checks than a faster process with fewer checks.

Discover Reports Financial Results for 2Q2012

Discover logo 140pxDiscover Financial Services has reported financial results for the second quarter 2012. The company said Discover card sales volume grew 5% from the prior year to $26.1 billion. Credit card loans ended the quarter at $46.6 billion, up 4%, or $1.6 billion, from the prior year. Credit card loan delinquencies and net charge-offs reached historic lows with a delinquency rate for loans over 30 days past due of 1.91% and a net charge-off rate of 2.79%.

Western Union Launches Bill Presentment Solution for Smartphones

WesternUnion logo 140pxWestern Union announced the release of an enhancement to its Western Union Speedpay service designed to help billers meet growing consumer demand to receive electronic bills through smartphones and mobile devices.

“Our Western Union Payments Money Mindset Index shows that consumers, whose use of mobile devices is outpacing all other media, are looking for a wider range of payment options from billers,” David Shapiro, senior vice president, Payments, Western Union, said. “Western Union is dedicated to providing billers with robust bill pay solutions, while giving consumers a variety of user-friendly options to receive and pay their bills.”

The enhancement was developed with eBill presentment specialist, Striata, and operates across multiple platforms and devices, including Android, Blackberry, iPhone, iPad.

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