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« September 30, 2012 - October 6, 2012 | Main | October 14, 2012 - October 20, 2012 »

October 11, 2012

Payments Views - Local Knowledge, Global Payments

GP Logo Horizontal 140pxOver on Payments Views, Glenbrook's Elizabeth McQuerry has posted a new article, entitled "Local Knowledge, Global Payments" that explores the challenges and options available to U.S. companies that find themselves sending large volumes of payouts to app developers, affiliates, ad network participants such as bloggers and other content providers. She profiles Tipalti, a new player in this segment, and positions it against a number of better known alternatives.

MasterCard Connects DOCOMO’s Domestic Payment Network to the World

MasterCard logo 140px MasterCard and NTT DOCOMO have announced that MasterCard has been selected as a partner to expand contactless payments options for consumers in Japan. "The collaboration will connect DOCOMO’s domestic payment network to the world, enabling customers using iD mobile credit payments with compatible DOCOMO smartphones to make contactless payments outside of Japan, anywhere MasterCard PayPass is accepted."

Blackhawk To Offer Gift Cards Through mFoundry’s Mobile Banking Platform

BlackhawkNetwork logo 140pxBlackhawk Network announced that it has contracted with mFoundry, enabling Blackhawk to offer digital and physical gift cards from hundreds of brand name merchants to smartphone users through Fin.X, mFoundry's next generation mobile banking platform.
“This new partnership between Blackhawk Network and mFoundry is an exciting milestone for us,” said Talbott Roche, President, Blackhawk Network. “Our ability to offer both digital and physical gift cards from the nation’s leading retailers combined with mFoundry’s mobile banking and payment solutions expertise allows us to bring financial institutions a wonderful opportunity to drive new revenue streams from digital channels while deepening relationships with consumers and retailers.”

October 10, 2012

Dwolla Joins mFoundry’s Service Provider Network

Dwolla logo 140pxDwolla and mFoundry announced a partnership that extends Dwolla's peer-to-peer money transfer service to mFoundry's mobile banking customers.
“mFoundry’s network of more than 800 banks and credit unions creates a breakthrough opportunity to offer peer-to-peer payments to millions of banking customers who want a cost-effective way to move money,” said Dwolla CEO Ben Milne. “Dwolla's partnership with mFoundry delivers an affordable, safe and convenient way to pay anyone at anytime.”

Pay Your Way Education Portal in UK

Payments council logo 140pxThe UK Payments Council has an interesting educational portal, called Pay Your Way, for consumers to get a better understanding of how payments work in the UK.
The Pay Your Way website aims to help consumers by providing impartial information on the different payment methods available. The information helps you to compare their speed, cost, reliability and security, find out about new payment technology and ask an expert your questions about payments.

Good explanation of when and how to use a dozen or so common payment methods in the UK, including Faster Payments and even PayPal.

peerTransfer Doubles List of Schools in Just Six Months

PeerTransfer logo 140pxpeerTransfer, a cross-border tuition payments providers, announced that it has surpassed the 200-school milestone and now has reach to 28% of the United States’ higher education market.
“There is obviously an unmet need in the industry," said Iker Marcaide, CEO of peerTransfer. "We have grown the company exponentially and have been laser-focused on helping international students and their schools make paying for tuition as seamless as possible. I’m excited that within a year’s time we’ve experienced over a 500 percent growth in school deployments.”

In one year, peerTransfer has increased the number of payments processed by 10-fold, the number of currencies supported nearly doubled, and the number of schools it is partnered with has increased from 41 schools to 212.

October 09, 2012

Payments Views - Cross Border Bill Payment

GP Logo Horizontal 140pxGlenbrook's Elizabeth McQuerry recently posted an article over on Payments Views entitled, "Milk and a Fridge: Cross-border Bill Payments – A Developing Market".
Bill payment across borders has the same demands as paying domestic bills – you’ve got to link the funds to the correct account, make sure the money gets there and credited on time and provide the ability to pay for late charges when it doesn’t. On top of that, add foreign exchange conversion.

Have a look.

World Payments Report 2012

Rbs logo 140x60pxDebit cards continue to gain global market share from credit cards, and the use of electronic and mobile payments continues to show exponential growth concludes the World Payments Report 2012 released by Capgemini, RBS, and Efma.
“Debit card transactions continue to take market share from other types of payment methods because they easily allow people to bypass the use of cash,” said Kevin Brown, Global Head, Transaction Services Product, International Banking, RBS. “As more and more consumers move to mobile and other electronic payments, we’ll continue to see the exponential growth of innovative payment solutions.”

The World Payments Report 2012 also highlights that Brazil now the third largest non-cash market in the world after the US and the Eurozone.

First Data Releases September 2012 SpendTrend

First data logo 140x60px First Data has released its First Data SpendTrend analysis for the full month of September 2012 compared to September 2011.
Overall dollar volume growth was 5.8%, down from August’s 7.2% growth. The moderation of growth can be attributed to tough comparables as September 2011 was a strong month with dollar volume growth of 9.5%. Transaction growth dipped slightly to 6.3% from 6.5% last month. Average ticket growth was -0.5%, down from August’s 0.6% growth. Although consumers have shown a willingness to spend, they continue to be price-conscious and look for bargains.

SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations.

October 08, 2012

American Express and Walmart Launch Bluebird

Amex logo 140pxWalmart and American Express have announced the launch of 'Bluebird', an "alternative to debit and checking accounts designed to help consumers better manage and control their everyday finances."
“The financial services landscape is changing. Technological advances, regulatory changes, and evolving consumer needs are redefining payments ranging from prepaid, to checking and debit. Bluebird is our solution to help consumers who currently may be poorly served by traditional banking products. It allows them to easily and safely move, manage, and spend their money. In an era where it is increasingly “expensive to be poor,” we have worked with Walmart to create a financial services product that rights many of the wrongs that plague the market today,” said Dan Schulman, group president, Enterprise Growth, American Express.

Bluebird members can deposit money in a variety of ways including payroll direct deposit, remote check capture via the Bluebird mobile app, using cash at any Walmart register, or by linking a checking, savings, or debit card to the account. There are no minimum balance, monthly, or overdraft fees. Bluebird is based on the Serve platform.

Federal Reserve Reports Consumer Credit for August 2012

FedThe US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "consumer credit increased at a seasonally adjusted annual rate of 8.0%. Revolving credit increased at an annual rate of 6.0%, and nonrevolving credit increased at an annual rate of 9.0%."

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