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August 23, 2013

New Payment Data Updates from the Federal Reserve Bank of Kansas City

FedThe payments research team at the Federal Reserve Bank of Kansas City has recently posted three new documents on the subject of interchange fees and public authority involvement in payment card markets around the world:

Many thanks to Fumiko Hayashi and her colleagues for making these publications available!

Hope you have a great weekend - summer is winding down!

August 22, 2013

Headline News from PaymentsNews.com - August 22, 2013

On the web:

On the wires:

Updates from Glenbrook:

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!

August 21, 2013

Fed to Appeal Debit Card Decision

According to a report by Bloomberg, the Federal Reserve's general counsel, Scott Alvarez, told U.S. District Judge Richard Leon that it intends to file its appeal of his decision on debit card interchange fees and network routing requirements later today.

Headline News from PaymentsNews.com - August 21, 2013

On the web:

On the wires:

Updates from Glenbrook:

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!

August 20, 2013

Headline News from PaymentsNews.com - August 20, 2013

On the web:

  • Mobile payment: what will it really look like? - The Telegraph - "Meanwhile, payments are vanishing into apps, and that’s gaining ground. Mobile payments are taking off, just not in the way that people thought."
  • The Debt Collection Company that Helps You Get a Job - HBR Blog - "We've got to do more than hope they hear about a job, let's help them find one."
  • Bitcoin now 'unit of account' in Germany - Guardian - "Germany's ministry of finance has formally recognised the digital currency Bitcoin as a "unit of account" which can be used for private transactions..."
  • PayPal under attack.. Not just Facebook… - FinVentures (Tom Noyes) - "The strategic threat for Paypal is that the nature of competition is changing as advertisers and channels couple payments with other services (social, community, advertising, …) to deliver a better COMMERCE experience through insight into customer data."

On the wires:

Updates from Glenbrook:

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!

August 19, 2013

Global Credit, Debit, and Prepaid Card Fraud Losses Up 14.6% in 2012

In a press release, The Nilson Report announced findings that "issuers, merchants, and acquirers of credit, debit, and prepaid general purpose and private label payment cards worldwide experienced gross fraud losses of $11.27 billion in 2012, up 14.6% over the prior year. Of that $11.27 billion, card issuers lost 63% and merchants and acquirers lost the other 37%." This amounts to a fraud loss rate of 5.22 basis points on total payment card volume of $21.604 trillion in 2012 - up from 5.07 basis points in 2011.

“Adoption of EMV at the point of sale is the strongest defense against counterfeit cards,” said David Robertson, publisher of The Nilson Report.

“EMV adoption would not only help U.S. issuers but also issuers in other parts of the world that must continue to put mag-stripes on their cards to accommodate POS terminals in the U.S. Fraudsters are willingly paying a premium for stolen mag-stripe data from EMV card countries in order to create counterfeit cards for use in the U.S.,” he explained.

Nilson noted that the losses were lowest on PIN-based debit cards where fraud losses were 1.1 basis points of PIN debit card volume.

Headline News from PaymentsNews.com - August 19, 2013

On the web:

On the wires:

Updates from Glenbrook:

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!

August 18, 2013

Aggregation and Aggravation - Micropayments 2013

PaymentsViews logo 140pxOver on our PaymentsViews.com blog in a post titled Aggregation and Aggravation - Micropayments 2013, Glenbrook's Russ Jones laments the lack of a solution to micropayments - saying it's a problem that's never been solved.

Why do micropayments endure as such a challenge in payments? The problem has been the same for many years – the challenge of absorbing fixed payments costs on a small value item. In interchange terms (1.9% plus $0.10), it’s not the 1.9% that’s the problem, its the $0.10.

Russ concludes by noting that "Twenty years into the Internet revolution, the micropayment challenge remains very real for sellers that are dealing in low-cost goods and services. The challenge (or perhaps the opportunity?) will likely increase as more and more of the economy shifts from physical goods to digital goods."

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