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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Headline News - August 24, 2010

tis, 2010-08-24 14:30

Headline News is brought to you by Glenbrook Partners:

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

Blackhawk Network Announces New Prepaid Products

tis, 2010-08-24 01:02
Blackhawk Network today announced a new brand of prepaid products called PayPower. PayPower is a suite of prepaid products and services designed to help consumers stay in control of spending with simple and safe solutions that provide value, transparency and budgeting. The suite of products is targeted to consumers looking for alternatives to traditional financial credit, whether for everyday use, travel, online purchases or simply to pay a bill. Consumers can turn their cash into a debit card at thousands of retailers nationwide and easily reload through Blackhawk's vast reload network. PayPower cards are Visa-branded and can be used wherever Visa Debit cards are accepted.

Personal Financial Management Tool Usage Trails Consumer Interest

tis, 2010-08-24 00:56
A recent study conducted by Fiserv shows that consumers are very interested in personal financial management (PFM) tools. But, while interest in PFM is high, actual usage remains quite low. Nearly 40%of the consumers surveyed indicated that PFM tools would be beneficial to managing their finances, yet only 15% of consumers had used a PFM service in the past 90 days. Of the subset of respondents who had used a PFM service in the past 90 days, an overwhelming majority said they did so from online banking sites (68%), more than double the percentage that reported using the top named traditional personal financial management software.

A Look at Financial Reform, the Consumer Protection Act, and Debit Regulation

mån, 2010-08-23 18:48
First Data's Public Affairs organization has put together a Special Edition of VantagePoint that nicely summarizes all the recent payments-related regulatory changes in the U.S. There first of the two PDF downloads includes a summary of the recent debit regulation.

Headline News - August 23, 2010

mån, 2010-08-23 14:49

Headline News is brought to you by Glenbrook Partners:

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

Headline News - August 20, 2010

fre, 2010-08-20 12:41

Headline News is brought to you by Glenbrook Partners:

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

J.D. Power 2010 U.S. Credit Card Satisfaction Study

tors, 2010-08-19 23:22
According to a new J.D. Power and Associates report, "Overall customer satisfaction with credit cards has rebounded from a three-year low in 2009, but professed loyalty continues to slip as skepticism that card issuers are focused on customers' best interests remains." "Despite massive efforts by the credit card industry during the past year to educate customers about credit card terms as a part of the CARD Act, customers' grasp of those terms continues to be elusive," said Michael Beird, director of banking services at J.D. Power and Associates.

Survey Finds 15% of Consumers Now Use Mobile Devices to Purchase

tors, 2010-08-19 23:07
A recent study sponsored by Sterling Commerce and Demandware found that consumers are increasingly turning to mobile devices to serve their in-store shopping experience, but are concerned about security and ease-of-use. The independent survey of 3,600 U.S. consumers reveals that 15% of consumers have used their mobile devices to make purchases. While nearly all (96.2%) of consumers surveyed own a mobile phone, just under half owned a smart phone, which are designed to deliver a more optimal shopping experience.

MasterCard Acquires DataCash

tors, 2010-08-19 13:35
MasterCard announced today that it has acquired DataCash, a UK-based payments service provider (PSP), for $520 million. A webcast for investors, and supporting presentation are also available. The corresponding DataCash announcement is here.

This gateway acquisition will bolster MasterCard efforts in the global eCommerce market, where the company's current offering, the MasterCard Internet Gateway Service (MiGS), has seen some success in emerging markets. Early this year, Visa made a similar acquisition of CyberSource.

Headline News - August 19, 2010

tors, 2010-08-19 13:03

Headline News is brought to you by Glenbrook Partners:

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

Swipely Opens to the Public, Makes Shopping Social

ons, 2010-08-18 18:48
Swipely today announced the opening of its site to all U.S. consumers, following a successful invitation-only beta period. Swipely imports purchase information from credit cards, debit cards, or email accounts so that users can share (ala Twitter) information about what they're buying and where they're shopping.

To share card transaction data, users must provide their online banking credentials to Swipely.

Prosper Releases 12-Month Peer-to-Peer Lending Stats

ons, 2010-08-18 17:49
Prosper.com today released 12-Month Performance Statistics and its monthly market survey data for July 2010. “The focus at Prosper for the past twelve months – the period following Prosper’s SEC registration quiet period – can be summed up into two words: Risk Management,” said Chris Larsen, Chief Executive Officer and Co-founder of Prosper. “From building out our leadership team with world class risk management and analytics experts to the refinement of our risk and credit scoring models, success this past year has been defined by our disciplined approach to risk/return tradeoff and dramatically improved lender performance.” The company claims to be the world’s largest peer-to-peer lending marketplace with over 34,000 loans totaling $202 million. The weighted average Prosper borrower credit score is 738.

FinovateFall 2010 Conference - Company Presenters Announced

tis, 2010-08-17 23:04
The FinovateFall 2010 conference being held in New York City on October 4-5, will focus on technology innovation in financial services. Some of the companies selected as first time presenters at FinovateFall 2010 include: ActivePath, Betterment, billFLO, BillFloat, Blaze Mobile, Bundle, Capital Access Network, Credit Sesame, Emue Technologies, Finsphere, Hidden Levers, Ixaris, Kashoo, Kiboo, Kony Solutions, Leadfusion, MatchFund, Optirate, Plantly, Plastyc, SapientNitro, Seeking Alpha, SmartyPig, Standard Charterd Bank, Thwakk, TouMetis, and Unience.

Household Debt and Credit

tis, 2010-08-17 19:47
The New York Federal Reserve today released their 2Q2010 Quarterly Report on Household Debt and Credit. The report indicates the drop off in the number of open credit card accounts is slowing with the number of open credit card accounts only falling from 385 to 381 million in 2Q2010. Still, the number of open credit card accounts on June 30 was down 23.2% from their 2Q2008 peak.

Online Resources Expands Payments Presence in Utility Market

tis, 2010-08-17 18:24
Online Resources has announced that over the past six months it has signed agreements with more than 40 utilities for various electronic billing solutions. According to the release, "Seven new biller-direct utility clients, including three of the 15 largest electric utilities and the largest investor-owned water utility in the U.S., selected Online Resources to power their customers’ billing and payments."

Prepaid Debit Card Research Reports

tis, 2010-08-17 18:15
GetDebit.com has started to assemble a comprehensive list of "must read" research reports on the prepaid debit card market. So far they have identified 15 reports, and provide a brief abstract about each. All the reports are free.

Headline News - August 17, 2010

tis, 2010-08-17 18:05

Headline News is brought to you by Glenbrook Partners:

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

Singapore 2010 Youth Olympic Games Showcases DBS Visa Prepaid All-In-One Card

mån, 2010-08-16 23:47
According to recent Visa new release, "Spectators at the Singapore 2010 Youth Olympic Games Opening Ceremony this Saturday can expect a unique entry process with their all-in-one DBS Visa Prepaid cards." The all-in-one card replaces the usual paper ticket and serves as an entry pass to the Opening Ceremony. In addition, it allows cardholders to make purchases at places that accept Visa cards, including Youth Olympic venues. It also comes with a contactless EZ-link transit function that enables cardholders to enjoy free public transport to competition venues on event days. The card can be used as a regular transit card after the Games. Moreover, no one will be admitted to the Opening Ceremony without their Singapore 2010 Youth Olympic Games Opening Ceremony DBS Visa Prepaid card, which is the ticket to the event.

PayPal’s Upcoming iPhone App To Support Remote Deposit Capture

mån, 2010-08-16 20:47
Scott Thompson, PayPal President, has told TechCrunch that an upcoming version of the PayPal iPhone app will support direct charity donations and remote deposit capture. The new "check-friendly" feature will be that a PayPal user can take a picture of the front and back of an incoming check to deposit it to their PayPal account.