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« May 26, 2013 - June 1, 2013 | Main | June 9, 2013 - June 15, 2013 »

June 07, 2013

Fed Reports Revolving Credit in US Grew Slightly in April 2013

FedThe latest G.19 Consumer Credit report from the Federal Reserve, published today, shows that revolving consumer credit in the US grew at an annual rate of 1 percent in April to a total of $849.8 billion. DDPChart

Headline News from PaymentsNews.com - June 7, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 06, 2013

Visa Inc. Holds Investor Meeting, Outlines Key Themes for Future

Visa logo 60pxhOn Thursday, June 6, Visa Inc. held an Investor Meeting - its first under the leadership of CEO Charles Scharf.

In the slides used for the meeting, Visa shared its key themes:

  • Visa' s business is built on a strong foundation
  • Macro trends are working in Visa's favor
  • Making successful progress on Visa's aspirations
  • Investing intelligently for growth

Visa discussed how it was striving to be flexible and adapting to the needs of its partners: supporting financial institutions with their relationships, building more strategic commercial relationships with merchants, and assisting government partners in electrifying payments and expanding financial inclusion.

In its financial review, Visa also discussed its use of incentives with clients - noting that it expected them to grow over time as issuer portfolios grow, as more volume comes under contracts with incentives, and as US merchants and acquirers become recipients of incentives as well.

The full slide presentation is available here.

In SEC Filing, Visa Inc. Updates Growth Data for April, May 2013

In an SEC filing this morning ahead of its Investor Day being held later today, Visa Inc. provided an update on payments volume, cross border volume and processed transactions growth - as well as providing its financial outlook for its fiscal year 2014.

Headline News from PaymentsNews.com - June 6, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 05, 2013

Visa Investor Meeting - Thursday, June 6, 2013

Visa logo 60pxhA reminder that Visa Inc. is holding its first Investor Meeting under the new leadership of CEO Charles Scharf on Thursday, June 6, 2013 beginning at 8 AM Pacific. Webcast details here. Slides are posted here.

Visa Adds Additional mPOS Providers

Visa logo 60pxhVisa Inc. has announced that it has signed agreements with three additional mobile point-of-sale (mPOS) providers to enable merchants to accept Visa payments using mobile technology.

iZettle, SumUp and SCCP Group’s Swiff, will participate in the Visa Ready Program to have their mobile acceptance hardware and software tested and approved for use with Visa payments. Visa also announced that approval of two new mPOS devices by AnywhereCommerce and Miura Systems to accept Visa payments.

“The Visa Ready Program is designed to provide innovators with an easy way to collaborate with Visa and gives merchants and consumers the peace-of-mind they need when transacting with a mobile phone,” said Jim McCarthy, Global Head of Innovation & Strategic Partnerships, Visa Inc.

“Mobile acceptance technology is precisely the kind of innovation we need to bring the benefits of electronic payments to more merchants, financial institutions and consumers around the globe.”

From 2011 to 2012, the number of mobile point-of-sale terminals in operation worldwide increased 111 percent, from 4.5 million to 9.5 million, and it is expected to reach 38 million by 2017.

Discover Partners with Barclaycard to Expand Discover, Diners Club Acceptance

Discover logo 140pxBarclaycard and Diners Club International, a business unit of Discover Financial Services, have announced an agreement to enable the acceptance of Discover and Diners Club cards by merchants using Barclaycard’s payment acquiring services starting in early 2015. Merchants using Barclaycard’s payment acquiring services will be able to accept payments from Discover, Diners Club International and Discover Network partners cardholders.

“Diners Club International and Discover Network cards already are accepted at millions of merchant locations worldwide, and this agreement with Barclaycard will increase our presence in the UK, a key tourist destination for our cardmembers,” said Gerry Wagner, VP of global acceptance for Discover Financial Services.

“Not only will our cardmembers benefit from this increased acceptance, but Barclaycard Global Payment Acceptance merchants will find it easier to accept Discover Network and Diners Club International cards as method of payment, both in person and online.”


Headline News from PaymentsNews.com - June 5, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 04, 2013

Monitise to Integrate Blackhawk Network Gift Cards into Mobile Wallets

BlackhawkNetwork logo 140pxBlackhawk Network and Monitise have announced an agreement to make prepaid gift cards from Blackhawk Network's GiftCardMall™ available for purchase from participating banks and payment companies' mobile wallets that are powered by Monitise.

We believe that consumer demand for gift cards is increasing around the world and with it the expectation that access to mobile offerings will allow consumers to make purchases whenever they want," said Tim Attinger, Group Vice President, Strategy and Innovation at Blackhawk Network.

"By working with Monitise, we are helping its bank partners bring great retail brands and consumers together with new revenue opportunities and marketing applications. We are also excited about the overlap between certain of Blackhawk's global content and Monitise's international footprint and aspirations."

Headline News from PaymentsNews.com - June 4, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 03, 2013

InComm Introduces Cashtie API for Cash Payments at Retail

InComm logo 140pxInComm has announced Cashtie - calling it a "a powerful API that links retail cash payments via an existing point-of-sale (POS) system to software applications. Cashtie enables ecommerce and bill payment software providers to quickly and easily add cash payment options to their existing applications. Cashtie customers can leverage InComm's global retail network, turning nearly 400,000 points of retail distribution into a cash payment location with no additional POS integration required."

We are opening up InComm's prepaid rails to service providers, allowing them to instantly connect any of their applications to a retailer's cash register," said Thomas Cornelius , SVP at InComm.

"Currently, the biggest obstacle for companies wishing to build a cash payment network is creating relationships with retailers and then integrating with their POS systems – a process that can take years. Cashtie customers, on the other hand, can leverage InComm's already established retail network. Within as little time as a few weeks, software service providers seamlessly give companies the ability to offer their customers more flexibility and convenience in how they pay for products and services while retailers increase foot traffic in stores."

Cashtie is a RESTful API. InComm clients can request access via www.cashtie.com.

A History Lesson for Advancing Interoperability in Mobile Money

CGAP 140pxOn the CGAP Blog Kabir Kumar writes:

CGAP commissioned Carol Benson and Scott Loftesness of Glenbrook Partners to glean lessons from more developed payments markets, like the United States and Japan, that could be relevant for interoperability questions in global branchless banking markets.
In the report, Interoperability in Electronic Payments, Benson and Loftesness looked at select and noteworthy historical examples to see if they proved or disproved the hypotheses. They paint a picture of how conditions developed over time based in part on their own first hand experiences, which makes the report full of interesting insights.

Headline News from PaymentsNews.com - June 3, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 02, 2013

Headline News - June 2, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

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