On the web:

• Google Offers Credit Card to Advertisers - New York Times
• EBay's PayPal Going Offline, Targets Big Retailers - Reuters
• Dwolla Now Processing $1M per Day, Milne Hints at What's Next (Video) - Silicon Prairie News
• Nokia: No Mobile Wallet Support in Current NFC Phones - NFC World
• U.S. Peer-to-Peer Lending Hits Record High for Seventh Month in a Row - NetBanker
• Mobile Payment Growth Comes Slower Than Expected - ClickZ

On the wires:

• Dynamics Inc. Reveals One of the Largest Patent Portfolios in Payments Industry
• ACH Alert Granted Patent for Fraud Protection System
• Banker’s Toolbox Launches WireFraud Manager to Combat Growth of Wire Transfer Fraud
• Net1 Signs Contract with Banamex to Provide Mobile Virtual Card Technology
• Shift4 and Digital Dining Work to Remove Cardholder Data From POS
• Network International Signs 3500 Merchant for Planet Payment's 'Pay in Your Currency' in UAE
• ADP ALINE Pay Offers New Payroll Solution Designed to Offer Compliance in 50 States

Headline News is compiled by Glenbrook Partners:

• Intuit GoPayment and mophie Credit Card Reader Available for iPhone 4
• RushCard Allows Members to Customize Card Plans and Further Reduces Card Fees
• Tom Joyner Partners with PreCash to Offer The REACH Card

• Treasury&Risk: Wires Get Smarter
• VentureBeat: Five Payment Trends to Watch in 2011
• TheStreet: American Express Faces Declining Credit Card Use
• Dow Jones: Global Payments To Enter Brazilian Card Market
• Datamonitor Blog: New Visa Initiative Will Raise Awareness of Contactless Payments Among London Consumers
• Springwise: Mobile Payment App Verifies Identity with a Photo (FaceCash)

The Federal Reserve Banks (FRBs) and The Clearing House Payments Company (TCH) have announced plans to implement enhanced message formats to accommodate both cover payments and payments containing business remittance information on their respective U.S. dollar wire transfer systems, the Fedwire® Funds Service and CHIPS. READ MORE »

The Aite Group has published a new report titled "Converging Wire Transfer and Automated Clearing House (ACH) to Revolutionize U.S. Electronic Wholesale Payments" that concludes the US payments industry could save $7 billion annually if the two systems were converged into a single electronic system. According to Aite, "converging the wire transfer and ACH systems will provide optimum payments capabilities and services, significant cost savings, and revenue-generating opportunities."

Wire transfer volume has the potential to grow significantly if parties involved in the wire transfer
process work together to overcome current inefficiencies, according to a new study released today by The Clearing House Payments Company and the Federal Reserve Banks.