Payments News

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Payments News ISSN 1556-4487. Compilation Copyright © Glenbrook Partners LLC, 2002-2010. All Rights Reserved.
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Merchant Risk Council's Annual Merchant Fraud Survey

7 tim 9 min sedan
The Merchant Risk Council (MRC), a merchant-led trade association focused on electronic commerce risk and payment strategies, has announced the results of its Annual Merchant Fraud Survey, sponsored by CyberSource Corporation. According to the MRC, "this year’s survey again confirms that MRC Platinum Members are best in class at reducing revenue losses due to cyber theft, while also leading the way in reviewer productivity for both domestic and international orders."


UK Card and Banking Fraud Losses Down 28% in 2009 to £440.3MM

7 tim 52 min sedan
The UK Payments Council has released new data on fraud losses for the full year 2009 that show that "total fraud losses on UK cards fell by 28 per cent between 2008 and 2009 to £440.3 million – a decrease of £170 million on the previous year’s total."

According to the Council, "the combined force of industry initiatives such as: chip and PIN; the increasing use of sophisticated fraud detection tools by banks and retailers; and the work of the DCPCU , the banking-sponsored special police unit, have all helped contribute to this fall. It is the first time that card fraud has decreased since 2006."


NFC Forum Announces 19 New Members

8 tim 15 min sedan
The NFC Forum has announced 19 new members from 14 countries. "The new NFC Forum members are from several sectors of the NFC ecosystem, the numerous industries that are stakeholders and contributors to NFC technology. Industries represented include semiconductor and terminal manufacturers, higher education, service providers, compliance and testing organizations and systems integrators."


Vindicia Adds Two Game Publishers - HitGrab, Arbopals

tis, 2010-03-09 17:25
Vindicia has announced the addition of two game publishers, HitGrab and Arbopals, to its customer portfolio providing on-demand billing solutions in the online gaming industry. According to the company, "with these additions, Vindicia's CashBox continues to expand its reach into a wide variety of game genres, such as MMOs, casual games, social games and virtual worlds. With the online game market expected to reach $24.8 billion in 2013, according to Strategy Analytics, publishers who seek to stand out from the pack must establish a business model that is fine-tuned to monetize their games, regardless of genre or style."


First Data Releases February 2010 SpendTrend™ Results

tis, 2010-03-09 15:19
First Data Corporation has released its First Data SpendTrend™ analysis for February 2010 - finding that "same-store dollar volume was up 8.4% (7.4% excluding gasoline stations) with employment showing signs of stabilization. Average tickets were up 1.4%, the first year-over-year increase since July 2008." SpendTrend tracks same-store consumer spending via credit, signature debit, PIN debit and EBT cards at U.S. merchant locations.


Headline News - March 9, 2010

tis, 2010-03-09 14:34

Note: Throughout the day, as Payments News happens, this post is updated. For job opportunities available for payments professionals, visit PaymentsJobs.com. Employers looking to hire payments professionals can post their job openings there as well.


Vesta Launches Prepaid.com Payment Portal for Prepaid Mobile Operators

mån, 2010-03-08 14:36
Vesta Corporation has announced the launch of Prepaid.com, a recharge portal that allows mobile customers to send airtime to friends and family worldwide. According to Vesta, "the portal features immediate, no-fee recharging for prepaid mobile phone accounts and allows expatriates and immigrants to maintain strong family ties, regardless of distance and borders."


Mobey Forum Publishes White Paper on Secure Mobile Payments

mån, 2010-03-08 14:25
The Mobey Forum has released a new white paper titled "Alternatives for Banks to Offer Secure Mobile Payments" that "examines the important role of the secure element in delivering mobile payment services to end users." (Both the white paper itself and accompanying slides are available for download). It provides an analysis of the mobile financial ecosystem, the stakeholders, and the value chain positions that can be achieved by banks though different business models.

According to the Forum, "the paper’s key focus is on the role of the secure element, a tamper-resistant hardware element located within a mobile device, which is required to securely facilitate mobile financial services, such as near field communication (NFC) and contactless payments. It highlights the features, application and impact of different secure element technologies including stickers, secure micro SD cards, universal integrated circuit cards (UICC), embedded secure elements and trusted mobile bases."


A Look at Square

mån, 2010-03-08 06:29
In a post titled "Is Square a Threat to Verifone?" on his blog, Aneace Haddad writes about whether Square would pass his basic framework to evaluate the chances of success of a new project or venture. In his analysis of new ventures, he asks "three fundamental questions: so what, who cares, and why me?" Read his post to see what he concludes about Square.


Test Post

lör, 2010-03-06 03:08
Test post - please ignore.


Fed Reports Revolving Consumer Credit Continues Decline in January

fre, 2010-03-05 21:39
Today's G.19 Consumer Credit report from the Federal Reserve shows that revolving consumer credit continued to decline in January at a 2.3% annual rate. While still shrinking, the rate of decline has slowed significantly from 2008. Overall consumer credit grew in the month at an annual rate of 2.4%.


What's Coming Up at Glenbrook!

fre, 2010-03-05 05:51
Next week, on Wednesday and Thursday, March 10-11, we're holding the next Glenbrook Payments Boot Camp in Santa Clara, CA. If you want to join us, please register right away. The 2010 editions of our Boot Camps include a special focus on mobile payments.

Speaking of mobile payments, Glenbrook's Carol Coye Benson has recently published a Glenbrook research report titled "Musings about Mobile Payments" based upon a series of interviews she conducted late last year with the major players in mobile payments.

Watch a video by Carol Coye Benson about Glenbrook's Payments Education offerings.


The Ultimate ACH Panel

tors, 2010-03-04 02:16
In a post on PaymentsViews.com titled "ACH and the Future of Electronic Payments: BAI Convenes the Ultimate ACH Panel", Glenbrook's Erin McCune describes the "dream panel" that discussed ACH at the BAI Payments Connect conference in Orlando this week. The panelists were: Jan Estep (CEO NACHA), Rich Oliver (EVP Retail Product Manager, Federal Reserve), Rossana Salaris (SVP Payments Products, The Clearing House), and Stephanie Sturgis-Griffin (CEO Pariter Solutions); the moderator was Fred Brothers of eCom Advisors.


Fed Proposes Reg Z Changes to Protect Credit Card Users from Fees

tors, 2010-03-04 01:24
The Federal Reserve Board has proposed a rule amending Regulation Z (Truth in Lending) to "protect credit card users from unreasonable late payment and other penalty fees and to require credit card issuers to reconsider increases in interest rates."

"This proposal addresses two key costs of using a credit card--fees and interest rates," said Federal Reserve Governor Elizabeth A. Duke. "The rule would prevent credit card issuers from charging large penalty fees for small missteps by consumers and would require issuers to reevaluate rate increases imposed since the beginning of last year."


Chase Enhances Cash Back Rewards on Chase Freedom Card

ons, 2010-03-03 19:12
Chase Card Services has announced it is increasing the cash back rate on its Chase Freedom credit card to 5 percent on popular seasonal spending categories, like home improvement, gas and department stores.


TSYS Acquiring Solutions Names Mark D. Pyke as President

ons, 2010-03-03 16:32
TSYS has announced that Mark D. Pyke has been named president of TSYS Acquiring Solutions. Prior to joining TSYS Acquiring Solutions, Pyke served as president of Bank of America Merchant Services in Louisville, KY.


Glenbrook's Erin McCune at BAI’s Payments Connect Conference

ons, 2010-03-03 16:15
Glenbrook's Erin McCune is attending BAI's Payments Connect Conference in Orlando this week. You can follow Erin's tweets in real-time on Twitter - and read her coverage on PaymentsViews.com of yesterday's panel discussion exploring the most pressing issues in e-payments. She'll be posting more articles from the conference soon!