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

« May 13, 2012 - May 19, 2012 | Main | May 27, 2012 - June 2, 2012 »

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.”


News View

Payments Consultants