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December 06, 2013

What We Can Learn from the Developing World About Payments?

CarolOn our sister blog PaymentsViews.com, Glenbrook's Carol Coye Benson has posted a new articled titled "It’s Complicated: What we can learn from the developing world about payments" - based on her participation on Wednesday at Bill Maurer’s IMTFI (Institute for Money, Technology and Financial Inclusion) annual conference at UC Irvine.
In developed countries, relatively affluent payments professionals may think that their estate planning, or mortgage financing, or college funding strategies are complicated, and that their “payment life” is simple. ... But all people, poor or not, have ways of dealing with the intersection of money and the complications of life. Assuming that poverty makes this simple is just wrong. The IMTFI researchers are doing a great job of illustrating this.
Continue the conversation with Carol by sharing your comments on her post or contact her directly at carol@glenbrook.com.

Headline News from PaymentsNews.com - December 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. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 05, 2013

US Bank Introduces Community Card for Tax-Exempt Organizations

USBank logo 140pxUS Bank has announced a new Community Credit Card for non-profit organizations and small municipalities. The new card has fewer fees, a powerful online expense-management tool and other features crafted to their unique needs. The U.S. Bank Visa® Community Credit Card has no annual fees, no late fees and no over-limit fees and is now offered in all U.S. Bank branches.

The U.S. Bank Community Card is designed for non-profit organizations and municipalities where usual credit-underwriting standards sometimes aren’t appropriate,” said Cathi Stanton, senior vice president for U.S. Bank Retail Payment Solutions.

“For instance, instead of assigning liability to board members – which can be a tough ask for non-profits – the liability is held by the organization.”

"U.S. Bank’s free ScoreBoard tool lets tax-exempt organizations see, compare and control expenses more efficiently, giving staff more time to focus on the organization’s mission and needs,” Stanton said.

Examples of non-profits that can benefit include: religious organizations; cultural groups; foundations; social services; educational institutions; and other tax-exempt institutions. Municipal organizations that may qualify include: local, state, federal entities; schools; city or county offices; fire, police, and sheriff departments; and public housing administrations.

In October, U.S. Bank introduced another new specialty credit card: the U.S. Bank Visa Signature® Company credit card. Designed for companies with $1 million to $10 million in annual revenues, it offers unique advantages for businesses such as no personal guarantor and cash-back rewards.

Headline News from PaymentsNews.com - December 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. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 04, 2013

Headline News from PaymentsNews.com - December 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. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 03, 2013

Headline News from PaymentsNews.com - December 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!

December 02, 2013

Wells Fargo Adds Contact and Contactless Chips to Visa Credit Cards - On Request

Wells fargo logo 140pxWells Fargo has announced that its Visa credit card customers can now request a card with chip-based technology by calling the service number listed on the back of their existing credit card.

The bank said that "if a new card is requested, it will be equipped with chip-based technology, Visa payWave, and a magnetic stripe. That means cardholders can use it at any kind of terminal they encounter in their worldwide travels and when shopping. This technology provides an extra layer of security for both contactless and contact transactions by including dynamic elements designed to make each transaction unique."

As chip cards are become increasingly popular overseas, we want to make sure our customers have the ability to order a card from us that is designed to work wherever they go in the world,” said Peter Ho, manager of digital payments for Wells Fargo’s Consumer Financial Services group.
In 2011, Wells Fargo was the first to announce, in partnership with Visa, a chip card pilot program in the U.S. The pilot included 15,000 customers who travelled internationally. Based on the success of that pilot, in 2012 the company launched its By Invitation® Visa Signature® chip-enhanced credit card. The card, available to clients of Wells Fargo Advisors and The Private Bank, automatically gave customers a chip card when obtaining credit for the first time or when their existing card expired.

Update: The Members Group contacted PaymentsNews to note that it was the first in the US to issue a Visa EMV card in 2010 with its client, the United Nations Federal Credit Union.

Headline News from PaymentsNews.com - December 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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