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« September 2, 2012 - September 8, 2012 | Main | September 16, 2012 - September 22, 2012 »

September 14, 2012

What's Up With Glenbrook

GP Logo Horizontal 140 pxThe October 2-3, 2012 Glenbrook Payments Boot Camp is now sold out and registration is closed. Registration for the remaining 2012 sessions is still available.
Payments Boot Camps - Two Day "deep dive" into the payments industry, $2,195
Oct 24-25, 2012: New York, NY - Bryan Derman and Carol Coye Benson
Dec 4-5, 2012: Santa Clara, CA - Scott Loftesness and Carol Coye Benson

Payments 2013: A Look Ahead - One day workshop for Payments Boot Camp alumni, $995
Dec 6, 2012: Santa Clara, CA - Scott Loftesness, Russ Jones, Carol Coye Benson

Don't delay - register today to secure your seat at one of these upcoming events.

FinovateFall 2012 - Best of Show Winners

Finovate fall 2012A number of payment-related companies were selected by the audience as "Best of Show" at this week's FinovateFall 2012 conference in New York.
  • Dashlane - Checkout on mobile optimized websites without keyboard interaction
  • Dynamics - Programmable Triple Interface Card with Mag Stripe, Contactless, and EMV chip
  • ShopKeep POS - Cloud-based iPad POS System
  • PayTap - Social Bill Pay
Profiles of all 64 presenting companies are now available on the Finovate website.

September 13, 2012

Payfone To Launch Mobile Commerce Checkout Solution

Payfone logo 140pxPayfone has announced '1 Touch Checkout', a "new mobile commerce checkout solution that connects shoppers’ mobile identities with their payment instruments to enable the easiest, fastest and most secure mobile commerce checkout experience possible." Payfone also announced that CardinalCommerce has joined the Payfone Ecosystem as its channel partner.

PayTap Launches Social Bill Pay Service

Paytap logo 140x60pxPayTap is a new social bill pay services that premiered this week at both TechCrunch Disrupt SF and FinovateFall 2012 in NY. The services supports payment cards, bank account, PayPal, and Dwolla payments.
Tap into your network of family and friends to get bills paid. You can share with one person or collaborate with many and the money goes directly to the biller.

Their website is at www.paytap.com. Glenbrook has previously blogged about the emerging domain of social payments.

MasterCard to Launch the MasterCard Reload Service for Prepaid in Europe

MasterCard logo 140pxMasterCard announced that is has partnered with CQR Payment Solutions to Launch the MasterCard Reload Service for Prepaid in Europe. Cardholders will be able to load cash at a wide variety of merchant locations across Europe via a direct card reload or through a Ukash voucher, which can then be used to reload the card online. The rePower voucher launch will be in November this year.

FDIC Releases National Survey of Unbanked and Underbanked

FDIC logo 140px The Federal Deposit Insurance Corporation (FDIC) has announced the results of its 2011 National Survey of Unbanked and Underbanked Households. "The survey indicates that more than one in four U.S. households (28.3%) are either unbanked or underbanked, a slight increase from the findings of the FDIC’s 2009 inaugural survey. The survey, conducted every two years by the FDIC in partnership with the U.S. Bureau of the Census, provides the banking industry and policy makers with insights and guidance on the demographics and needs of the unbanked and underbanked."

Google 'Save to Wallet API for Payments Cards' Goes Live

Google logo 140pxGoogle says its 'Save to Wallet API for Payment Cards' is now live, with both Discover and Barclaycard US the first to let their cardholders directly insert their cards into the Google Wallet. The blog post has some good screen shots. Barclaycard's companion announcement is here.

First Data, Accenture, VocaLink Team Up on Real-time Payments in Australia

First data logo 140x60pxFirst Data has announced the signing of an exclusive teaming agreement with Accenture and VocaLink to introduce a technical solution for Immediate Payments in Australia. Immediate Payments would enable Australian consumers and businesses to transfer funds between bank accounts in real or near real-time, instead of waiting between one-to-three days.
“We are pleased to enter into this agreement with Accenture and VocaLink and look forward to engaging with the industry on potential governance models for our proposed technical solution,” said John Tait, managing director of First Data in Australia and New Zealand. “Our ultimate goal is to provide innovation to Australian consumers, and we recognise that this can only be achieved through a cooperative approach and defined by a broad group of stakeholders, driven at the industry level.”

PreCash Introduces FlipMoney Mobile Wallet for Underbanked Consumers

Precash logo 140x60pxPreCash has announced FlipMoney, a mobile wallet app for underbanked consumers.
“Historically, people with the least amount of money and free time pay more and have fewer convenient options to do simple things like pay bills or cash checks,” said Steve Taylor, PreCash CEO. “Until now, the current cadre of mobile payments and financial services apps largely ignore the needs of people without bank accounts and credit cards. Flip changes all of that by combining instant remote check deposit and free expedited bill payments in a single mobile wallet that works with a prepaid card.”

PreCash also announced that the mobile solution can be customized and branded for mobile carriers, prepaid program managers, money service businesses and other merchants.

MasterCard Extends U.S. EMV Migration Roadmap to ATM Channel

MasterCard logo 140pxMasterCard has announced the expansion of its U.S. electronic payments roadmap to include the ATM channel. Beginning in October 2016, a liability shift hierarchy will be introduced for ATM transactions in the U.S., as part of an effort to globally align the use of EMV technology to prevent and manage fraud in the payments ecosystem.
“This continues our commitment to look holistically at the next generation of U.S. payments,” said Mike Weitzman, Group Executive, U.S. Markets, MasterCard. “As other markets have migrated to EMV, we have seen fraud shift to the least secure channel. By establishing this liability shift, we’re advancing efforts to prevent and reduce fraud. At the same time, by making the announcement today, we’re providing our issuers, acquirers and ISOs flexibility and sufficient time to manage their ATM technology decisions.”

September 10, 2012

Payments Views - The Good News on International Remittances is...

GP Logo Horizontal 140pxOver on Payments Views, Glenbrook's Elizabeth McQuerry has posted her analysis of the recent Atlanta Fed symposium the approaching February 7, 2013 deadline for compliance with the new Section 1073 rules of the Dodd-Frank Act.
While all the industry providers at the conference asserted that they will be “ready” (many noting that any code changes must be completed by the end of October before the year-end freezes), there was much discussion about degrees of compliance. “Degrees of compliance” is an interesting concept in payments, where often, decision engines generally make yes-no decisions.

Fiserv Launches SpotPay Mobile POS Solution

Fiserv logo 60pxhFiserv has announced SpotPay, a mobile card reader solution for financial institution to offer to their small business customers that enables merchants to accept card and check payments anywhere, anytime.
"The ability to pay anyone, anytime, anywhere is revolutionizing commerce as we know it," said David Keenan, general manager, Network Solutions, Fiserv. "Financial institutions are an integral part of this revolution, as they are in a unique and trusted position to ensure the safety and security of these transactions. SpotPay is an innovative tool that helps financial institutions participate in anytime, anywhere commerce while deepening their relationships with businesses of all sizes."

CorFire Delivers Mobile Payment Capabilities to Support Dunkin’ Donuts

CorFire logo 05 13 11CorFire announced that it is providing virtual mobile payment capabilities to support Dunkin’ Donuts’ recently-launched mobile app which eliminates the need for physical cards and enables consumers to gift via SMS, email, and social networks.
The Dunkin’ App is technology agnostic and works without the need to wait on NFC, enhancing the consumers’ shopping experience by providing convenient and easy-to-use mobile payment options. The solution, which works on most smartphones, also delivers Dunkin’ Donuts franchisees with payment and gifting solutions that drive customer loyalty while providing cost savings.

Current Opportunities on PaymentsJobs.com

PaymentsJobs logo 140pxSeveral new positions for payments professionals have recently been posted to Glenbrook's payments industry job board in the last 30 days: Is your company hiring? Are you in the market for qualified payments professionals? You can reach the best candidates here. Post your job openings for payments professionals on PaymentsJobs.com!

Federal Reserve Reports Consumer Credit for July 2012

FedThe US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "total consumer credit decreased at a seasonally adjusted annual rate of 1.5%. Revolving credit decreased at an annual rate 6.75%, and nonrevolving credit increased at an annnual rate of 1.0%."

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