Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   Advertise   About         SUBSCRIBE:

« March 9, 2014 - March 15, 2014 | Main | March 23, 2014 - March 29, 2014 »

March 22, 2014

Glenbrook's Industry Scan Programs

GP Logo Horizontal 140pxThis week's PaymentsNews.com daily email and RSS feed distribution have been sponsored by Glenbrook's Industry Scan Programs.

These valuable programs are managed by partner Erin McCune. She writes:

Perhaps you’re responsible for identifying important industry trends and new initiatives by your company’s competitors. You follow many industry news sources but distilling the most important items to surface to your executives is challenging.

This is what we at Glenbrook do best. We work with your team to ensure your competitive radar is finely tuned, well focused, and effective.

For more information about Glenbrook's Industry Scan Programs, you can learn more here - and be sure to contact Erin to receive a customized quote that meets your specific needs.

Week-long sponsorships of the PaymentsNews.com daily email distribution and RSS feed are available. For more information, please contact: publisher@paymentsnews.com.

March 21, 2014

Merchants Lose Debit Card Interchange Fee Appeal

FedEarlier today a US appeals court in Washington, DC upheld the Federal Reserve's Regulation II interchange fee and network routing rules. The appeals court overturned an earlier district court decision handed down last July that struck down Regulation II.

In the Court's opinion on the case, Circuit Judge Tatel expressed a bit of frustration:

Before addressing the parties’ arguments, we think it worth emphasizing that Congress put the Board, the district court, and us in a real bind. Perhaps unsurprising given that the Durbin Amendment was crafted in conference committee at the eleventh hour, its language is confusing and its structure convoluted. But because neither agencies nor courts have authority to disregard the demands of even poorly drafted legislation, we must do our best to discern Congress’s intent and to determine whether the Board’s regulations are faithful to it.

The case is NACS v. Board of Governors of the Federal Reserve System, U.S. Court of Appeals for the District of Columbia, 13-5270.

Headline News from PaymentsNews.com - March 21, 2014

On the Web:

On the Wires:

  • Visa and PULSE Agree on EMV Common Debit Solution - "Visa Inc. and PULSE, a Discover Financial Services company, announced an agreement to enable financial institutions that issue EMV debit cards on both the Visa and PULSE networks to use Visa’s common debit solution."

Updates from Glenbrook:

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!

March 20, 2014

What Comes After Bitcoin?

PaymentsViews logo 140pxOn our PaymentsViews.com blog, Glenbrook's George Peabody writes about math-based currencies:

Don’t get too attached to how Bitcoin looks today. It or its immediate successor is going to change. Moving to another math-based currency may be in your future because we are only at the end of the beginning of the math-based currency journey.

Read and comment on his post here!

Headline News from PaymentsNews.com - March 20, 2014

On the Web:

On the Wires:

  • American Express Expands Benefits for Platinum Card® Members - "These benefits include complimentary, unlimited access to Wi-Fi hotspots provided by Boingo Wireless, a global market leader in Wi-Fi, as well as an application fee statement credit option for the TSA Pre✓™ program."
  • Small Businesses Get Paid Faster With QuickBooks Payments - "As part of the expanding QuickBooks ecosystem of online products and services, QuickBooks Online users who also use QuickBooks Payments get their invoices paid on average two times faster than those who don’t. When these small businesses email their invoices and allow their customers to pay online, they significantly reduce the time it takes to receive payment."

Updates from Glenbrook:

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!

March 19, 2014

Headline News from PaymentsNews.com - March 19, 2014

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. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 18, 2014

NACHA Reports Taking Steps Toward Ubiquitous, Same-Day ACH Settlement

NACHA logo 140pxNACHA announced today that "it is taking initial steps towards a ubiquitous, same-day ACH settlement capability. Through a “phased approach” to implementing new functionality, NACHA seeks to move the ACH Network from today’s single, next-day settlement to multiple, same-day settlement options that would be available for virtually any ACH Network transaction." Future rulemaking will be required to actually approve implementation of specific capabilities.

NACHA has conducted extensive work over the past year to outline the parameters and requirements of a ubiquitous, same-day capability for the ACH Network that enables financial institutions, large and small, to provide value to their end-users,” said Janet O. Estep, president and CEO of NACHA.

“A phased implementation enables us to introduce new capabilities more quickly, and then continue to build over time, creating value for all participants at each step along the way.”

“The concept of phased implementation is the result of thoughtful exploration of feedback we received over the past year,” said Estep. “This is the next step to help create a rule proposal for the industry to enable same-day ACH through the NACHA rulemaking process.”

NACHA's phased implementation proposes incremental functionality that would include multiple, new settlement windows, and greater certainty around faster funds availability.

  • As currently outlined, a first implementation phase would provide a foundation to better enable same-day ACH credits to support important use cases such as payroll, person-to-person (P2P) payments and expedited billpay.

  • A second phase would introduce same-day ACH debits and enable a wide variety of consumer bill payment use cases like utility, mortgage, loan and credit card payments.

  • A third phase would improve the service level across the ACH Network and reduce counter-party risk by adding a second same-day settlement and accelerating funds availability.

NACHA said it is launching a study to assess the industry’s costs and potential transaction volume for same-day ACH - including gathering specific facts around RDFIs’ investment and operating costs as a result of receiving same-day payments. The study also will fully explore ACH volume potential through detailed interviews and inputs. The information gathered on implementation capabilities, costs and volume will then inform a NACHA rulemaking that could occur as early as fall 2014.

Headline News from PaymentsNews.com - March 18, 2014

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. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 17, 2014

Visa, Fiserv Partner for Debit EMV on Accel Network

Fiserv logo 60pxhFiserv has announced an agreement to make Visa’s common debit EMV solution available for the Accel™ debit network. Under the agreement, Fiserv will adopt Visa’s common debit solution offering issuers, acquirers and merchants a simple, streamlined approach for debit EMV adoption. The agreement will help enable the development of regulation-compliant debit EMV solutions using a common Application Identifier (AID).

With more than 7 million Visa EMV chip cards already issued in the U.S., it is important to continue the momentum towards more widespread adoption,” said Bill Sheedy, executive vice president of Corporate Strategy and Government Relations, Visa Inc.

“With Fiserv participating in the common solution we have made available to the industry, we can offer more choices to issuers and merchants and a clear roadmap for streamlined, cost-effective chip adoption.”

By licensing the Visa AID, the Accel network will be able to process PIN and PINless EMV transactions ensuring enhanced transaction processing security. The AID will facilitate U.S. debit transactions from any debit network that licenses the Visa common AID solution and is enabled on a Visa card.

Headline News from PaymentsNews.com - March 17, 2014

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. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

Sponsors

News View

Payments Consultants

Subscribe

Languages