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November 28, 2012

Bank of America to Pilot V.me by Visa to Its Online Banking Customers

Visa logo 60pxhVisa announced that Bank of America has agreed to offer Visa’s digital wallet service called V.me and has begun piloting it to its online banking customers.
“We look at everything through the lens of the customer and continue to prioritize security, privacy, and fraud protection above all else,” said David Godsman, Online and Mobile Solutions executive, Bank of America. “We believe our customers shouldn’t have to forgo security for convenience when using a digital wallet. V.me offers customers a greatly simplified and secure checkout process when shopping online without sharing their financial information.”

November 27, 2012

CFPB Proposes to Change Remittance Rule and Extends Its Effective Date

Cfpb logo 140x60pxThe Consumer Financial Protection Bureau announced today that it intends to propose certain limited adjustments to our rule on international money transfers, as well as a brief extension of the date the rule would become effective.
Some regulated entities identified issues that pose practical challenges in implementing the new law. To address these issues, next month we will propose a narrow set of changes to the remittance rule. We’ll work on a fast track to finalize changes to the rule. The proposed changes would improve implementation of the new law while keeping the important new protections for consumers intended by the Dodd-Frank Act.

New NACHA Rule Supports Electronic Health Care Claims Payments via ACH

NACHA logo 140px NACHA announced that its membership has adopted a new health care payments rule as part of the NACHA Operating Rules.
“Any health care provider with a bank account will be able to receive a health care electronic funds transfer (EFT) via ACH, just like a Direct Deposit,” said Janet O. Estep, NACHA president and CEO. “Providers will benefit from faster deposits and access to funds, and cost savings from not having to deposit paper checks. Payers will also benefit from replacing the printing and mailing of paper checks with electronic payments via ACH.”

The rule supports health plans’ and health care providers’ use of the ACH Network for electronic health care claims payments, and the electronic “reassociation” of these payments with electronic remittance advices (ERAs).

U.S. Bank Acquires FSV Payment Systems

USBank logo 140pxU.S. Bank announced that it is acquiring Florida-based FSV Payment Systems, a prepaid card processing company known for its expertise managing a broad range of prepaid programs for companies, governments and other financial institutions.
“The prepaid market has been a strategic focus for our business over the last decade and we are pleased to expand our capabilities and offer a fuller suite of prepaid services,” said Tony Vuoto, executive vice president of U.S. Bank Retail Payment Solutions. “FSV Payment Systems is one of the few integrated platforms developed specifically for the prepaid market and has the flexibility to serve our growing customer base.”

November 26, 2012

New Visa Consumer Authentication Service Combats eCommerce Fraud

Visa logo 60pxhVisa announced a new solution in its information products line up to help issuers reduce the risk of eCommerce fraud using real-time, risk-based transaction analysis.
Visa Consumer Authentication Service authenticates the consumer prior to the authorization process, adding a powerful layer of protection against fraud. As the consumer begins the online checkout process, the solution performs a real-time risk assessment of the transaction based on numerous inputs including device and transaction information and historical spending patterns. The result is that issuers can complete lower-risk eCommerce transactions without requiring consumers to go through the extra step of entering their passwords or other verification. The solution minimizes disruption and abandonment at the point of purchase, while also helping issuers and merchants reduce fraud losses.

The Visa Consumer Authentication Service supports Verified by Visa and is available in all Visa Inc. markets immediately.

Vindicia Bridges Physical and Digital Economies for Online Retailers

Vindicia logo 140pxVindicia has introduced a new capability that allows online merchants to sell access to online content via Vindicia's in store displays at physical retail locations.
"By providing online merchants a way to sell their virtual goods and subscription services at retail locations, we've given them access to a massive customer buying platform," said Gene Hoffman, Chairman and CEO of Vindicia. "Whether an impulse buy, a seasonal shopper or savvy consumer, we're able to increase the value of a traditional retailer by expanding offerings. For the retailer with a loyal customer base, this is done with zero inventory overhead and wide margins and profits."

This new capability allows retail stores to sell digital content subscriptions via on-premise end cap systems, checkout lanes or self-checkout.

New Boston Fed Report on Mobile Payments Technology

Boston fed logo 140pxThe Federal Reserve Bank of Boston has released a new report entitled, "Mobile Phone Technology: 'Smarter' Than We Thought".
This report examines in detail how near field communication (NFC) and cloud technologies address security for mobile payments at the retail point-of-sale (POS). It also provides a brief overview of security for two other mobile technology platforms, QR code, and direct carrier billing (DCB). Each technology manages and processes information uniquely; hence security practices and issues will vary with the technology deployed by each payments platform provider.

The full report is available here.

BlackBerry App World Expands Integrated Carrier Billing To 50 Carriers

Rim logo 140x60pxRIM has announced that more than 50 carriers have now implemented integrated carrier billing on the BlackBerry App World storefront for their customers.
Integrated carrier billing enables a customer to purchase apps or digital goods on their BlackBerry smartphone, and simply and conveniently have the purchases put directly on their regular monthly bill from their carrier. Integrated carrier billing is also integrated with the BlackBerry Payment Service, which enables developers and content providers to offer in-app purchases (such as additional levels in a game), as well as supporting one-off and recurring (subscription-based) purchases, without interrupting the customer's app experience.

Bango is the bill-to-mobile payment platform behind the new BlackBerry App World features.

WEX Partners with Higher One to Launch VendorPay for Higher Education

Wex logo 140x60pxWEX announced it has partnered with Higher One to launch VendorPay, a customized virtual payment solution for higher education institutions.
“As the pioneer in developing a virtual payment solution more than 10 years ago, we are continually looking for ways to bring our technology solutions to markets where there is a real need, like higher education,” said Jim Pratt, vice president of corporate payment solutions at WEX. “Higher One’s deep knowledge and experience in delivering efficiencies and cost savings to universities and colleges across the country makes it the ideal partner to offer the new VendorPay service.”

MasterCard and FiftyOne Partner on Merchant Offers for Global Cardholders

MasterCard logo 140px MasterCard and FiftyOne Global Ecommerce have announced a partnership that will provide exclusive online shopping offers from top U.S. merchants to MasterCard cardholders outside the United States.
“Fueled by growing emerging economies, broadband penetration and access to information, consumers all over the world have developed a ‘global mindset’ with vast brand recognition and a desire to buy these brands, whenever and wherever,” said Geoff Iddison, Group Executive, Global E-commerce at MasterCard. “MasterCard recognizes this trend, and is working with customers and partners like FiftyOne to provide cardholders an enhanced global shopping experience that is a safe, simple and frictionless.”

The promotion will run from November 22 to December 10, and is available to MasterCard cardholders in 14 markets.

November 21, 2012

November 19, 2012

Flint Launches Easy iPhone Payments for On-The-Go Businesses

Flint logo 140x60pxFlint Mobile has announced that its iPhone payments app is now generally available nationwide on the App Store.
"Flint's mission is to empower everyday small business users who are out and about and who are underserved by other solutions," said Greg Goldfarb, co-founder and CEO of Flint Mobile. "We've worked very closely with our beta users to develop a compelling app and are excited to make it available to a broader audience."

Flint is providing camera-based Mobile POS acceptance (no dongle required) with social network integration.

TSYS Announces Agreement to Acquire ProPay

Tsys logo 140pxTSYS announced that it has signed an agreement to acquire ProPay, a Lehi, Utah-based company, that currently processes for approximately 250,000 small and micro-merchants, with a strong footprint among Direct Selling Entities (DSEs). It offers merchants self-enrollment, instant activation and simplified pricing.
“The acquisition of ProPay is another step in our long stated goal of becoming a top 10 global acquirer that delivers innovative products,” said Philip W. Tomlinson, chairman of the board and chief executive officer, TSYS. “The move positions TSYS to capitalize on the explosive growth of mobile and more effectively compete in the small and micro-merchant segment.”

November 15, 2012

LevelUp to Provide Mobile Payments at Louisville's KFC Yum! Center

Levelup logo 140pxThe KFC Yum! Center is the first sports arena to allow visitors to pay with their mobile phone at all hospitality and merchandise stands thanks to hospitality partner Centerplate, which announced that it has tapped LevelUp to provide the KFC Yum! Center's mobile payment experience at 200 merchandise and hospitality stands.
"The KFC Yum! Center is at the forefront of the mobile payment revolution by adopting LevelUp at massive scale throughout the arena," said LevelUp's Seth Priebatsch. "Now anyone visiting the KFC Yum! Center can have a dead-simple way to pay and get rewarded for their loyalty. We're excited to be a part of such an innovative approach from Lousiville's largest venue."

In related news, LevelUp also announced a partnership with NetSpend that will offer a $10 incentive to consumers who link their NetSpend prepaid cards to their LevelUp accounts.

FIS to Provide InstantFunds Mobile Technology for AmEx Bluebird

FIS logo 140pxFIS announced that American Express has selected FIS’ InstantFunds Mobile technology to provide mobile-driven remote check capture for Bluebird accounts.
“Consumers are increasingly mobile and tech-savvy and constantly seek convenience. They want the option to perform any financial or purchasing transaction with a mobile phone,” explained Gary Norcross, president and chief operating officer, FIS. “We recognized the opportunity to offer a mobile solution that brings more secure, self-service capabilities to consumers and we’re excited that American Express has teamed with FIS to support its innovative Bluebird offering.”

FIS InstantFunds Mobile enables consumers to use their smartphones to scan a check and add funds into their account, thus limiting fraud by leveraging FIS’ analytics and payment guaranty technologies.

Tabbedout Launches Branded Offers in Denver-Area Bars and Restaurants

Tabbedout logo 140pxTabbedout announced that it is now enabling major brands to push offers directly to consumers via its self-checkout app, launching first in the Denver market with Shiner Beers.
The Tabbedout app provides a vehicle for beer and liquor brands to extend a tab discount or IRC to customers for trying their product. Now available in Denver, when a consumer opens a tab using Tabbedout, they will see offers available to redeem for tab discounts when they order any Shiner Beer. Tabbedout's unique mobile payment platform allows the user to control their experience by redeeming the offer and applying the discount directly to their tab in real time from their phone. If the user forgets to redeem before paying their tab, the app will send a notice to apply the discount before final payment is made.

November 14, 2012

Glenbrook Goes Global!

GP Logo Horizontal 140px

Glenbrook is pleased to announce availability of a new private payments workshop on Global Payments.

Focused particularly on cross-border payments, the course is designed to help payments professionals understand this rapidly changing, and highly lucrative, sector of the industry. The Global Payments course is an addition to Glenbrook's extensive list of available private workshops.

Glenbrook's Global Payments course is available as a one-day or two-day session, and can be conducted in person at your premises and/or via a private webinar to reach your global staff groups. The agenda includes:

  • Overview: Key Concepts, Regulation, Foreign Exchange
  • Country Payments Systems - Commonalities and Differences, Key Country Focus
  • Cross-Border Payments: Wires, ACH, Cards, Money Transfer Systems
  • Cross-Border Use Cases - Supplier Payments (B2B), Cross-Border eCommerce, Global Payouts (B2C and G2C), International Remittances

Private workshop clients can choose particular countries they are interested in for the "Key Country Focus" section, as well the particular use cases they want to concentrate on.

Interested? Please take our global payments survey to give us your general feedback. And contact Glenbrook's Elizabeth McQuerry to discuss scheduling a Global Payments workshop for your company.

November 13, 2012

More than 50 Financial Institutions Adopt V.me by Visa

Visa logo 60pxhVisa announced that more than 50 additional financial institution partners will be distributing V.me, Visa’s new digital wallet service.
“Whether you’re shopping for holiday gifts or shopping for yourself, V.me is now available to anyone in the U.S. looking for a more simple, secure, and personal online shopping experience,” said Jennifer Schulz, global head of eCommerce, Visa. “V.me is built around a single concept, to help people shop online simply and securely. We understand that need and believe our long-standing relationships with financial institutions, merchants and acquirers put Visa in a strong position to deliver the very best digital wallet experience.”

These relationships bring the addressable base of cardholders to as many as 55 million, allowing account holders to easily enroll Visa and other U.S.-issued payment cards through V.me and begin shopping online from a PC, tablet or mobile phone.

Citi 'Price Rewind' Price Protection Program

Citi logo 140pxCit has announced a new price protection program called Citi Price Rewind. Here's how it works. After a Citi cardmember purchases and registers an eligible item, Price Rewind will search hundreds of retailers’ sites for 30 days after the purchase to find a lower price. If a price is at least $25 less than what the cardmember paid, Citi will refund the difference in price – up to $250 per item.
“During the holiday season when the clock is ticking on getting popular gifts and toys, our customers can make their purchases today with more confidence that we will help get them a lower price,” said Ralph Andretta, Head of Co-Brands and Loyalty at Citi Cards. “Citi Price Rewind is another way that we’re delivering value to our cardmembers by using unique technology, and we’ve found a lower price for one-out-of-four registered purchases over $100.”

For more information on Citi Price Rewind, including a full description of coverage, eligible categories and Citi credit cards, visit http://www.citi.com/pricerewind.

American Express Debuts Membership Rewards for Mobile Gift Cards

Amex logo 140pxAmerican Express has announced that Cardmembers can now use Membership Rewards points for smartphone-enabled gift cards and use them instantly to pay with their smartphones.
“We know our Cardmembers want the flexibility to use the points they’ve earned for rewards they want, when and how they want them,” said Christopher Besendorfer, Vice President Loyalty and Membership Benefits, American Express. “As the worlds of online and offline converge, we're finding new ways for Cardmembers to use points, whether at home, on the run, and now instantly in-store with a Mobile Gift Card.”

Mobile Gift Cards are currently available for eight different retailers including: Banana Republic, Gap, Old Navy, PBteen, Pottery Barn, Pottery Barn Kids, West Elm and Williams-Sonoma.

BofA Merchant Services Announces Mobile POS Solution for Small Businesses

BankofAmerica logo 140pxBank of America Merchant Services has announced the December 3, 2012 release of 'Mobile Pay on Demand', a new solution that turns a client’s smartphone or iPad into a mobile point-of-sale terminal.
“In today’s economic environment, small businesses are looking for secure, easy and portable ways to confidently accept payments beyond cash, and promote their business to a broader customer base,” said Tom Bell, chief executive officer, Bank of America Merchant Services. “With Mobile Pay on Demand, we are making it even easier for small business owners to accept secure payments anywhere. The product is fully integrated with existing Bank of America accounts and services, allowing deposits made into a Bank of America small business checking account to be processed as soon as the next business day.”

BofA customers can find more information about the product and sign up at http://www.bankofamerica.com/mobilepay.

November 12, 2012

Preliminary Approval in U.S. Merchant Litigation

Generic credit cards 140x60pxJudge John Gleeson of the U.S. District Court for the Eastern District of New York has granted preliminary approval in the U.S. merchant litigation. Reuters has a nice write up of the hearing:
During a packed hearing on Friday, lawyers for dozens of objectors -- including Target Corp and Home Depot Inc -- told the judge that the settlement offered meaningless relief for merchants saddled with an estimated $30 billion in annual swipe fees. They also argued that releases shielding Visa and Mastercard from new litigation over the same claims would violate their legal rights and give the two companies protection from for any future anti-competitive behavior.

The National Retail Federation said that is will continue to oppose the settlement and look at other legal options.

In other legal news, the U.S. Supreme Court has agreed to AmEx's bid to force merchants to arbitrate antitrust claims over it fees.

Discover Financial Services Announces Next Steps for EMV Deployment

Discover logo 140px Discover has announced the next milestone in its global EMV deployment: a comprehensive strategy and roadmap that includes Discover Network, Diners Club International, PULSE and Discover Card.
“Our timeline to support chip-based credit and debit transactions, in addition to our Fraud Liability Shift policy, are critical milestones to helping make EMV a reality in the U.S.,” said Diane Offereins, President of Payment Services at Discover. “As with the Discover mandate announced earlier this year, our approach to EMV enables participants to select verification methods and transaction types that meet their organization’s needs.”

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