Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   Advertise   About         SUBSCRIBE:

« April 22, 2012 - April 28, 2012 | Main | May 6, 2012 - May 12, 2012 »

May 03, 2012

Visa Reports Fiscal 2Q 2012 Results

Visa logo 60pxhVisa has announced financial results for the Company's fiscal 2Q 2012 which ended March 31, 2012. Highlights include:
  • Payments volume growth, on a constant dollar basis, for the three months ended December 31, 2011, on which fiscal second quarter service revenue is recognized, was a positive 11% over the prior year at $993 billion.

  • Payments volume growth, on a constant dollar basis, for the three months ended March 31, 2012, was a positive 11% over the prior year at $956 billion.

  • Cross-border volume growth, on a constant dollar basis, was a positive 16% for the three months ended March 31, 2012.

  • Total processed transactions, which represent transactions processed by VisaNet, for the three months ended March 31, 2012, were 13 billion, a positive 8% increase over the prior year.

A webcast replay is available on the Visa investor website.

In related news, Visa also reveled that the U.S. Department of Justice is starting to look into its new acquiring-side fee structure. Digital Transactions has a good summary of the investigation.

Obopay Launches Licensed Payment Services for Partners

Obopay logo 140pxObopay has announced the availability of Obopay Licensed Payment Services for Partners, a new offering that enables partners to leverage Obopay’s money transfer licenses throughout the U.S.
“The Payments market is quite complex and requires expertise in compliance and working with state and federal regulators to ensure proper licensing, oversight and controls,” said Chris Martin, EVP of Operations and Chief Compliance Officer, Obopay. “To obtain money transfer licenses and maintain them in good standing takes a large investment in time, money and specialized people. By working with Obopay, our partners significantly reduce their time to market and are assured of meeting all applicable regulatory requirements.”

Partners can also take advantage of Obopay’s connections to a broad range of payment networks, as well as its risk management, compliance and settlement capabilities that enable companies to deliver additional unique services under their own brands.

Survey Says Americans Use Less Cash Today Than 10 Years Ago

MasterCard logo 140pxMasterCard has released the results of their "World Beyond Cash" survey that asks Americans for their opinion about the shift from cash to various forms of electronic payments.
“Commerce has changed dramatically over the past decade thanks to the internet and e-commerce, and this survey underscores that Americans are already shifting towards a cashless society,” said Carlos Menendez, Group Executive, Global Debit at MasterCard Worldwide. “For consumers, merchants and governments alike, MasterCard’s technology and expertise is focused on accelerating the global trend beyond cash by helping make electronic payments safe, simple and smart.”

BOKU Expands Direct Mobile Billing Network

Boku logo 140x60pxBOKU has announced today a direct mobile billing agreement with Sprint.
“This agreement is a welcome expansion of BOKU’s direct carrier relationships here in the U.S.” said BOKU President Ron Hirson. “Most importantly, Sprint is focused on the future and strongly believes in empowering developers to drive innovation in the market. They focus on providing developers with the best tools and an industry-leading network. We’re proud that they chose BOKU as a mobile payments platform to serve both their developers and their customers.”

In related news, BOKU also announced a direct mobile billing agreement with Deutsche Telecom in Germany. With these two agreements, BOKU can now directly process transactions with every major carrier in the US, UK, France, and Germany.

May 02, 2012

MasterCard Announces 1Q2012 Financial Results

MasterCard logo 140pxMasterCard has announced financial results for the first quarter 2012.
  • Net revenue was $1.8 billion, a 17% increase versus the same period in 2011. On a constant currency basis, net revenue increased 19% compared to the same period in 2011.

  • Worldwide purchase volume during the quarter was up 17% on a local currency basis versus the first quarter of 2011, to $629 billion.

  • As of March 31, 2012, the company’s customers had issued 1.8 billion MasterCard and Maestro-branded cards.

  • Cross-border volume was up 18%.

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

Fiserv To Offer Global ACH Payments Through Partnership with Earthport

Fiserv logo 60pxhFiserv has announced that it has partnered with Earthport, a specialist in cross-border payments services, to provide a solution for international payments processed through PEP+, Fiserv's online, real-time solution for originating and receiving ACH payments.
“PEP+ is the leading domestic ACH processor and now, with the integration with Earthport, we will expand that reach globally,” said Rahul Gupta, president, Digital Payments Solutions Group, Fiserv. “The commitment that we have always shown to payments within the U.S. will now expand to cross-border ACH payments – a capability our customers have requested.”

May 01, 2012

Average Debit Card Interchange Fee by Payment Card Network

FedThe Federal Reserve Board has published comparative information on the average debit card interchange fees that each payment card network charges acquirers (and indirectly merchants) and provides to debit card issuers. The data compares the 2009 baseline to 2011 (pre-Durbin) and 2011 (post-Durbin).

Recommendations for the Security of Internet Payments

European central bank 140x60pxThe European Central Bank has issued a set of recommendations (in PDF form) to improve the security of internet payments. These recommendations were developed by the European Forum on the Security of Retail Payments, SecuRe Pay.

April 30, 2012

Payments Views - The NFC Debit Challenge

GP Logo Horizontal 140pxOver on Payments Views, Glenbrook's Carol Coye Benson has an interesting post entitled "The NFC Debit Challenge". Carol is just back from an FTC conference on Mobile Payments and observes:
Simply put, the United States is a debit card market. I find that more-or-less affluent payments professionals still have difficulty getting their minds around this – after all, they themselves habitually use credit cards in preference to debit cards. But you can’t argue with the data. And debit issuers, still reeling from the combined impacts of the new overdraft rules and Durbin, simply don’t have any money. Certainly not enough to afford the TSM provisioning charges and wallet “rents” being proposed.

Visa Europe Confirms Launch Date for Digital Wallet

Visa logo 60pxhVisa Europe has announced that its new digital wallet service, by Visa, will launch to an initial group of consumers in the UK, Spain and France in autumn 2012.
Mariano Dima, Executive Vice President of Product and Marketing Solutions at Visa Europe, said: " sits at the heart of Visa's future of payments. For the first time, consumers and retailers will have a streamlined online checkout experience through an acceptance mark that offers industry-leading security and, when a Visa card is used in a wallet, the same protection and rights that come with any Visa card transaction.

Visa Europe also announced WorldPay as key UK development partner.

Headline News - April 30, 2012

On the web:

On the wires:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.


News View

Payments Consultants