Payments News - from Glenbrook Partners http://www.paymentsnews.com/ Payments News ISSN 1556-4487. Copyright © Glenbrook Partners LLC, 2002-2006. All Rights Reserved. en-US Fri, 10 Jul 2009 10:23:24 -0700 http://www.typepad.com/ 37.451688-122.183854This is an XML content feed containing the first segment of each post. It is intended to be viewed in a newsreader. To view the full content of each post, visit www.paymentsnews.com. Payments News ISSN 1556-4487. Copyright © Glenbrook Partners LLC, 2002-2006. All Rights Reserved. A Market Test for Credit Cards http://feeds.paymentsnews.com/~r/PaymentsNews/~3/qo9fRSou2uc/a-market-test-for-credit-cards.html http://www.paymentsnews.com/2009/07/a-market-test-for-credit-cards.html Commenting that "sometimes the answer to a failure of competition is to require more competition", Ian Ayres and Barry Nalebuff have published an op-ed in Forbes titled "A Market Test for Credit Cards" that advocates requiring card issuers putting up account relationships for bid if they choose to change the terms (like interest rate) on the account. Consumers would have an option to move to a new issuer who bid for the relationship - or to stay put with the revised terms. Commenting that "sometimes the answer to a failure of competition is to require more competition", Ian Ayres and Barry Nalebuff have published an op-ed in Forbes titled "A Market Test for Credit Cards" that advocates requiring card issuers putting up account relationships for bid if they choose to change the terms (like interest rate) on the account. Consumers would have an option to move to a new issuer who bid for the relationship - or to stay put with the revised terms.


]]> Card Issuers Credit Cards Payments News Editor Fri, 10 Jul 2009 10:23:24 -0700 http://www.paymentsnews.com/2009/07/a-market-test-for-credit-cards.html Senator Dodd Writes Regulators About Credit Card Rate Increases http://feeds.paymentsnews.com/~r/PaymentsNews/~3/qt72s7nJjCk/senator-dodd-writes-regulators-about-credit-card-rate-increases.html http://www.paymentsnews.com/2009/07/senator-dodd-writes-regulators-about-credit-card-rate-increases.html Senator Chris Dodd has sent a letter to to the Chairman of the Federal Reserve and the heads of key regulatory agencies "directing them to write and enforce robust rules to implement new requirements that credit card companies review rate increases on their customers implemented since January 1st of this year." Dodd reminds the regulators that the recently enacted Credit Card Accountability, Responsibility and Disclosure Act (Credit CARD Act) includes a provision that will require credit card companies to review every six months any account where the interest rate has been raised since January 1, 2009 and reduce the rate... Senator Chris Dodd has sent a letter to to the Chairman of the Federal Reserve and the heads of key regulatory agencies "directing them to write and enforce robust rules to implement new requirements that credit card companies review rate increases on their customers implemented since January 1st of this year."

Dodd reminds the regulators that the recently enacted Credit Card Accountability, Responsibility and Disclosure Act (Credit CARD Act) includes a provision that will require credit card companies to review every six months any account where the interest rate has been raised since January 1, 2009 and reduce the rate if the customer has become less of a credit risk or the circumstances that warranted the increase are no longer present.


]]> Card Issuers Credit Cards Financial Regulators Payments News Editor Fri, 10 Jul 2009 10:12:17 -0700 http://www.paymentsnews.com/2009/07/senator-dodd-writes-regulators-about-credit-card-rate-increases.html Headline News - July 10, 2009 http://feeds.paymentsnews.com/~r/PaymentsNews/~3/MYQllwdbogI/headline-news---july-10-2009.html http://www.paymentsnews.com/2009/07/headline-news---july-10-2009.html ISTS Worldwide, Inc Plans to Extend its Retail-Consumer Payments Frameworks on Core Microsoft Platforms Senate Panel Widens Probe On Mystery Credit Card Charges Daily Kos: "Courtesy Overdraft Fees" - New Way For Banks to Scam Customers? Zoompass Blog: Making Sure Your Money is Secure CreditCards.com: Study: Your brain may be causing your financially risky choices 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.

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.


]]> Payments News - Headline News Payments News Editor Fri, 10 Jul 2009 04:54:55 -0700 http://www.paymentsnews.com/2009/07/headline-news---july-10-2009.html A Look at the U.K.’s Faster Payments Service http://feeds.paymentsnews.com/~r/PaymentsNews/~3/Cn8L-jcDou8/a-look-at-the-uks-faster-payments-service.html http://www.paymentsnews.com/2009/07/a-look-at-the-uks-faster-payments-service.html Over on PaymentsViews.com, Glenbrook's Carol Coye Benson takes a look at the UK's Faster Payments Service. Carol spoke with David McFarlane, Company Manager, CHAPS Clearing Company about FP - and said she was surprised by much of what he said: FP is not what you thought! PaymentsViews_logo-140px.jpgOver on PaymentsViews.com, Glenbrook's Carol Coye Benson takes a look at the UK's Faster Payments Service. Carol spoke with David McFarlane, Company Manager, CHAPS Clearing Company about FP - and said she was surprised by much of what he said: FP is not what you thought!


]]> Glenbrook Payments Views UK UK Faster Payment Service Payments News Editor Thu, 09 Jul 2009 17:00:28 -0700 http://www.paymentsnews.com/2009/07/a-look-at-the-uks-faster-payments-service.html comScore Publishes New Mobile Financial Services Report http://feeds.paymentsnews.com/~r/PaymentsNews/~3/3TPX4CVnXKU/comscore-publishes-new-mobile-financial-services-report.html http://www.paymentsnews.com/2009/07/comscore-publishes-new-mobile-financial-services-report.html comScore has released an inaugural study of the mobile financial services industry with a new report titled Mobile Financial Services: The Market Today & Opportunities for Tomorrow. The report provides a look at the current state of the industry and mobile financial users, and highlights areas for potential growth in this rapidly evolving market. The report leverages multiple comScore data sources to provide a comprehensive view of the mobile financial services market, including an overview of the current U.S. mobile landscape and insights into the mobile banking, credit card, insurance and brokerage sectors. Mobile financial services adoption is highly dependent... comScore has released an inaugural study of the mobile financial services industry with a new report titled Mobile Financial Services: The Market Today & Opportunities for Tomorrow. The report provides a look at the current state of the industry and mobile financial users, and highlights areas for potential growth in this rapidly evolving market.


]]> Mobile Banking Mobile Payments Payments News Editor Thu, 09 Jul 2009 15:41:56 -0700 http://www.paymentsnews.com/2009/07/comscore-publishes-new-mobile-financial-services-report.html eBillme Introduces Cash Back Rewards http://feeds.paymentsnews.com/~r/PaymentsNews/~3/49vZLjFP2AM/ebillme-introduces-cash-back-rewards.html http://www.paymentsnews.com/2009/07/ebillme-introduces-cash-back-rewards.html eBillme has announced it will give consumers 1% cash back for every purchase made using its cash checkout option. According to the company, "in order to qualify, online shoppers select eBillme for checkout at one of over 800 online merchant sites offering the credit card alternative payment option. Consumers can then sign-up for eBillme's cash back rewards and immediately start earning 1% cash back for every order. Once $10 in rewards has been earned, the cash can be redeemed on eBillme merchant sites, or shoppers may choose to continue earning before redeeming." "This is truly a landmark offering for online... eBillme has announced it will give consumers 1% cash back for every purchase made using its cash checkout option. According to the company, "in order to qualify, online shoppers select eBillme for checkout at one of over 800 online merchant sites offering the credit card alternative payment option. Consumers can then sign-up for eBillme's cash back rewards and immediately start earning 1% cash back for every order. Once $10 in rewards has been earned, the cash can be redeemed on eBillme merchant sites, or shoppers may choose to continue earning before redeeming."


]]> Card Reward Programs eBillMe ECommerce Payments Payments News Editor Thu, 09 Jul 2009 10:43:03 -0700 http://www.paymentsnews.com/2009/07/ebillme-introduces-cash-back-rewards.html ClairMail Reports Revenue Growth http://feeds.paymentsnews.com/~r/PaymentsNews/~3/X9ncjhk-awg/clairmail-reports-revenue-growth.html http://www.paymentsnews.com/2009/07/clairmail-reports-revenue-growth.html ClairMail has announced a record number of new customers and a 200 percent year-over-year revenue increase for the second quarter ending June 2009. The company says this record quarter "continues the rapid growth trend the company has experienced in the past 12 months." “Our record revenue growth, solid customer pipeline and strong financial outlook put us on a clear path to near-term profitability,” said Founder and Chief Strategy Officer Joe Salesky. “We continue to see substantial demand from financial institutions for our unique proactive mobile banking solution, as we grow our market share across retail banks, credit unions and card... ClairMail has announced a record number of new customers and a 200 percent year-over-year revenue increase for the second quarter ending June 2009. The company says this record quarter "continues the rapid growth trend the company has experienced in the past 12 months."


]]> ClairMail Mobile Banking Payments News Editor Thu, 09 Jul 2009 10:40:00 -0700 http://www.paymentsnews.com/2009/07/clairmail-reports-revenue-growth.html TransUnion's Consumer Credit Risk Index Hits Record Level http://feeds.paymentsnews.com/~r/PaymentsNews/~3/DPPtnQ6kXpc/transunions-consumer-credit-risk-index-hits-record-level.html http://www.paymentsnews.com/2009/07/transunions-consumer-credit-risk-index-hits-record-level.html TransUnion has announced that it TransUnion Credit Risk Index, a statistic developed to measure the changes in average consumer credit risk within various geographies, increased 1.98 percent from 124.79 in the fourth quarter of 2008 to 127.26 in the first quarter of 2009. On a year-over-year basis, the Credit Risk Index increased 7.10 percent (from 118.83 in the first quarter of 2008), the largest increase for that time period in this decade. The Credit Risk Index is defined as the weighted average probability of 90-day delinquency or worse among consumers in a given region relative to the nation as a... TransUnion has announced that it TransUnion Credit Risk Index, a statistic developed to measure the changes in average consumer credit risk within various geographies, increased 1.98 percent from 124.79 in the fourth quarter of 2008 to 127.26 in the first quarter of 2009. On a year-over-year basis, the Credit Risk Index increased 7.10 percent (from 118.83 in the first quarter of 2008), the largest increase for that time period in this decade. The Credit Risk Index is defined as the weighted average probability of 90-day delinquency or worse among consumers in a given region relative to the nation as a whole.


]]> Credit Bureaus Credit Cards Credit Scores TransUnion Payments News Editor Thu, 09 Jul 2009 05:38:29 -0700 http://www.paymentsnews.com/2009/07/transunions-consumer-credit-risk-index-hits-record-level.html Headline News - July 9, 2009 http://feeds.paymentsnews.com/~r/PaymentsNews/~3/6w5We8SV4ys/headline-news---july-9-2009.html http://www.paymentsnews.com/2009/07/headline-news---july-9-2009.html Reuters: Sen Dodd seeks review of credit card rate hikes NYTimes.com: June Is Another Weak Month for Retail Sales U.S. Bank and TACA Airlines Introduce DISTANCIA Visa® Credit Card Program ChinaTechNews.com: China’s Alipay Reports Over 200 Million Users CNN.com: Medical credit cards: A high-risk, last resort option WSJ: Fixed-Rate Credit Cards May Be Thing of the Past Sacramento, Ann Arbor, Texas Tech Rollout Verrus Pay by Phone Parking 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...

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.


]]> Payments News - Headline News Payments News Editor Thu, 09 Jul 2009 05:14:31 -0700 http://www.paymentsnews.com/2009/07/headline-news---july-9-2009.html Consumers and Interchange Fees - The 7-Eleven Petition Drive http://feeds.paymentsnews.com/~r/PaymentsNews/~3/ZvlbI8z2Y20/consumers-and-interchange-fees---the-7-eleven-petition-drive.html http://www.paymentsnews.com/2009/07/consumers-and-interchange-fees---the-7-eleven-petition-drive.html In an article titled "Roping Consumers into Fee Tug-of-War", Maria Aspan writes for the American Banker about 7-Eleven's effort to garner consumer signatures on petitions that will be forwarded to the US Congress as it considers legislation dealing with credit card interchange fees. Aspan writes that some industry observers feel that the time is right for such a petition drive as "a lot of people are just fed up with credit card companies in general and they're willing to sign anything". In an article titled "Roping Consumers into Fee Tug-of-War", Maria Aspan writes for the American Banker about 7-Eleven's effort to garner consumer signatures on petitions that will be forwarded to the US Congress as it considers legislation dealing with credit card interchange fees.

Aspan writes that some industry observers feel that the time is right for such a petition drive as "a lot of people are just fed up with credit card companies in general and they're willing to sign anything".


]]> Interchange Fees Merchants Payments News Editor Wed, 08 Jul 2009 19:31:42 -0700 http://www.paymentsnews.com/2009/07/consumers-and-interchange-fees---the-7-eleven-petition-drive.html Fed: Revolving Consumer Credit Outstanding Shrinks 3.75% in May http://feeds.paymentsnews.com/~r/PaymentsNews/~3/3unyy3C4DIc/fed-revolving-consumer-credit-outstanding-shrinks-375-in-may.html http://www.paymentsnews.com/2009/07/fed-revolving-consumer-credit-outstanding-shrinks-375-in-may.html Photo: Cliff1066The Federal Reserve released its monthly G.19 Consumer Credit report today showing that overall consumer credit decreased at an annual rate of 1-1/2 percent in May 2009 while revolving credit decreased at an annual rate of 3-3/4 percent. FederalReserve-130px.jpg
Photo: Cliff1066The Federal Reserve released its monthly G.19 Consumer Credit report today showing that overall consumer credit decreased at an annual rate of 1-1/2 percent in May 2009 while revolving credit decreased at an annual rate of 3-3/4 percent.


]]> Consumer Debt Financial Regulators Payments News Editor Wed, 08 Jul 2009 12:33:22 -0700 http://www.paymentsnews.com/2009/07/fed-revolving-consumer-credit-outstanding-shrinks-375-in-may.html A Look at Prepaid Reloadable Mobile & Utilities Cards in Latin America http://feeds.paymentsnews.com/~r/PaymentsNews/~3/rquHWLOM5Zg/a-look-at-prepaid-reloadable-mobile-utilities-cards-in-latin-america.html http://www.paymentsnews.com/2009/07/a-look-at-prepaid-reloadable-mobile-utilities-cards-in-latin-america.html NovoPayment has announced its regional forecast for prepaid general-purpose reloadable mobile and utilities cards - estimating a potential market of nearly US$160 billion annually by 2015. According to the company, "the forecast is part of a larger regional study for prepaid cards covering 15 countries – Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Guatemala, Ecuador, El Salvador, Honduras, Nicaragua, Panama, Peru, Mexico and Venezuela – that measured factors such as size of labor force, poverty rates, wages, banking and other metrics based on the company’s experience in the field." “Unbanked consumers spend on average 10 hours per month standing... NovoPayment has announced its regional forecast for prepaid general-purpose reloadable mobile and utilities cards - estimating a potential market of nearly US$160 billion annually by 2015. According to the company, "the forecast is part of a larger regional study for prepaid cards covering 15 countries – Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Guatemala, Ecuador, El Salvador, Honduras, Nicaragua, Panama, Peru, Mexico and Venezuela – that measured factors such as size of labor force, poverty rates, wages, banking and other metrics based on the company’s experience in the field."


]]> Prepaid Cards and Stored Value Cards Payments News Editor Wed, 08 Jul 2009 11:28:55 -0700 http://www.paymentsnews.com/2009/07/a-look-at-prepaid-reloadable-mobile-utilities-cards-in-latin-america.html Discover U.S. Spending Monitor Falls for First Time in Four Months http://feeds.paymentsnews.com/~r/PaymentsNews/~3/YCJkX9_6-1Y/discover-us-spending-monitor-falls-for-first-time-in-four-months.html http://www.paymentsnews.com/2009/07/discover-us-spending-monitor-falls-for-first-time-in-four-months.html Discover has announced that its U.S. Spending Monitor fell for the first time in four months from 86.2 to 85.6 (based out of 100) finding that "consumer attitudes toward the economy reversed course from the previous three months with more consumers expressing concern over the current state of the U.S. economy. Overall, 59 percent rated current economic conditions as poor, a 4-point increase from the previous month and the first increase since February." While consumers are clearly concerned over current economic conditions, the number feeling the economy is getting worse remained at a Monitor-low 49 percent in June. The drop... Discover has announced that its U.S. Spending Monitor fell for the first time in four months from 86.2 to 85.6 (based out of 100) finding that "consumer attitudes toward the economy reversed course from the previous three months with more consumers expressing concern over the current state of the U.S. economy. Overall, 59 percent rated current economic conditions as poor, a 4-point increase from the previous month and the first increase since February."


]]> Discover Payments News Editor Wed, 08 Jul 2009 06:38:53 -0700 http://www.paymentsnews.com/2009/07/discover-us-spending-monitor-falls-for-first-time-in-four-months.html Headline News - July 8, 2009 http://feeds.paymentsnews.com/~r/PaymentsNews/~3/3a8pZtPcV1g/headline-news---july-8-2009.html http://www.paymentsnews.com/2009/07/headline-news---july-8-2009.html Marketplace: Credit card companies are watching you | WSJ: Prepaid Card Industry Resists Proposed US Consumer Agency Digital Transactions: PayPal Denies Adaptive Payments API Is a Ploy to ‘Crush’ Amazon FPS Bloomberg: JPMorgan, Bank of America Switch Credit Cards to Variable Rate - Bloomberg.com Chicago Tribune: Cash squeeze may put United Airlines in a bind (Credit card reserve requirements) Chase Card Services: In Midst of Tough Economic Times, Americans Return to Time-Honored Pursuits This Summer Acxiom Study Reveals Emerging U.S. Hispanic Market Rapidly Changing and Brimming with Opportunity Canada: Visa payWave makes shopping at M&M Meat Shops even more convenient...

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.


]]> Payments News - Headline News Payments News Editor Wed, 08 Jul 2009 06:23:25 -0700 http://www.paymentsnews.com/2009/07/headline-news---july-8-2009.html 7-Eleven Takes Card Interchange Fee Fight Into Convenience Stores http://feeds.paymentsnews.com/~r/PaymentsNews/~3/AXInMPK_rqo/7-eleven-takes-card-fee-fight-into-stores.html http://www.paymentsnews.com/2009/07/7-eleven-takes-card-fee-fight-into-stores.html In an article titled "7-Eleven leads fight against what it calls excessive credit card fees", Maria Halkias writes for the Dallas Morning News about how 7-Eleven is using its 6,300 stores in the US to solicit signatures "on petitions calling for Congress to change what the chain says are unfair and excessive credit card transaction fees." [Editor's note: We noticed that the 7-Eleven next door to Glenbrook's HQ began the petition drive last week. There's signage and a notebook for signatures right next to the cash register.] In an article titled "7-Eleven leads fight against what it calls excessive credit card fees", Maria Halkias writes for the Dallas Morning News about how 7-Eleven is using its 6,300 stores in the US to solicit signatures "on petitions calling for Congress to change what the chain says are unfair and excessive credit card transaction fees." [Editor's note: We noticed that the 7-Eleven next door to Glenbrook's HQ began the petition drive last week. There's signage and a notebook for signatures right next to the cash register.]


]]> Interchange Fees Merchants Payments News Editor Tue, 07 Jul 2009 10:13:35 -0700 http://www.paymentsnews.com/2009/07/7-eleven-takes-card-fee-fight-into-stores.html US Credit Card Delinquencies Rise to 4.75% of All Accounts in 1Q09 http://feeds.paymentsnews.com/~r/PaymentsNews/~3/JDnSbZomijU/us-credit-card-delinquencies-rise-to-475-of-all-accounts-in-1q09.html http://www.paymentsnews.com/2009/07/us-credit-card-delinquencies-rise-to-475-of-all-accounts-in-1q09.html The American Bankers Association’s Consumer Credit Delinquency Bulletin reported today that in the first quarter of 2009 that bank card delinquencies rose 23 basis points to 4.75 percent (s.a.) of all accounts, compared to 4.52 percent in the previous quarter. (The record was 4.81 percent in the second quarter of 2005.) The balances on those delinquent accounts rose dramatically, up 108 basis points to 6.60 percent (n.s.a.) of the value of all outstanding bank card debt, marking a new record. ABA Chief Economist James Chessen said the figures are a natural consequence of mounting job losses in a weakening economy.... The American Bankers Association’s Consumer Credit Delinquency Bulletin reported today that in the first quarter of 2009 that bank card delinquencies rose 23 basis points to 4.75 percent (s.a.) of all accounts, compared to 4.52 percent in the previous quarter. (The record was 4.81 percent in the second quarter of 2005.) The balances on those delinquent accounts rose dramatically, up 108 basis points to 6.60 percent (n.s.a.) of the value of all outstanding bank card debt, marking a new record.


]]> Card Issuers Consumer Debt Credit Card Debt Counseling Credit Cards Payments News Editor Tue, 07 Jul 2009 06:17:22 -0700 http://www.paymentsnews.com/2009/07/us-credit-card-delinquencies-rise-to-475-of-all-accounts-in-1q09.html Lessons Learned from the Heartland Data Breach http://feeds.paymentsnews.com/~r/PaymentsNews/~3/Zmzs8eBlnHM/lessons-learned-from-the-heartland-data-breach.html http://www.paymentsnews.com/2009/07/lessons-learned-from-the-heartland-data-breach.html Based on an interview with Heartland Payment Systems CEO Robert Carr, Rachael King writes for BusinessWeek about lessons learned during the Heartland data breach that began in 2008 and was discovered and announced in January 2009. Based on an interview with Heartland Payment Systems CEO Robert Carr, Rachael King writes for BusinessWeek about lessons learned during the Heartland data breach that began in 2008 and was discovered and announced in January 2009.


]]> Data Security Heartland Payment Systems PCI Compliance Payments News Editor Tue, 07 Jul 2009 06:02:57 -0700 http://www.paymentsnews.com/2009/07/lessons-learned-from-the-heartland-data-breach.html Equifax Launches Debt Wise for Consumers http://feeds.paymentsnews.com/~r/PaymentsNews/~3/Z4UXozUIyOg/equifax-launches-debt-wise-for-consumers.html http://www.paymentsnews.com/2009/07/equifax-launches-debt-wise-for-consumers.html Equifax has launched Debt Wise, a new product that uses information from the Equifax Credit Report to consumers to free themselves from debt--faster. According to Equifax, "Debt Wise effectively eliminates one of the biggest hurdles for many debt laden consumers -- getting started. Subscribers can create their personal debt payment plan online in as little as 10 minutes, in the privacy and comfort of their own home." The product's Fast Pay Plan Wizard makes it easy. The wizard automatically imports debts from a subscriber's Equifax Credit Report so that they can easily select which debts to include in their plan.... Equifax has launched Debt Wise, a new product that uses information from the Equifax Credit Report to consumers to free themselves from debt--faster. According to Equifax, "Debt Wise effectively eliminates one of the biggest hurdles for many debt laden consumers -- getting started. Subscribers can create their personal debt payment plan online in as little as 10 minutes, in the privacy and comfort of their own home."


]]> Credit Bureaus Credit Card Debt Counseling Equifax Payments News Editor Tue, 07 Jul 2009 05:40:30 -0700 http://www.paymentsnews.com/2009/07/equifax-launches-debt-wise-for-consumers.html Headline News - July 7, 2009 http://feeds.paymentsnews.com/~r/PaymentsNews/~3/MbbRTgo1L7A/headline-news---july-7-2009.html http://www.paymentsnews.com/2009/07/headline-news---july-7-2009.html Credit Slips: In Favor of the Consumer Financial Protection Agency (CFPA) UATP Announces Vice President, Global Sales; Focus on New Issuers and Growing UATP Programs Zoompass Blog: Zoompass and the Telcos Consumer Assistance Needed to Help Fight Identity Theft ING DIRECT Survey: Americans Blame Low, No Money Down Mortgages for Economic Downfall NCR's Newest POS Workstation Quickly Gaining Traction with ISVs and Resellers The Columbus Dispatch: More are paying taxes via plastic NY Daily News: Obama's new financial plan aims to limit "too big to fail" banks Americans Feeling More Confident That Their Identities Are Safe Compared to a Year...

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.


]]> Payments News - Headline News Payments News Editor Tue, 07 Jul 2009 05:30:31 -0700 http://www.paymentsnews.com/2009/07/headline-news---july-7-2009.html PayPal's Platform for Third-Party Developers http://feeds.paymentsnews.com/~r/PaymentsNews/~3/TrozpKJr-uk/paypals-platform-for-third-party-developers.html http://www.paymentsnews.com/2009/07/paypals-platform-for-third-party-developers.html Following the TechCrunch story earlier today about PayPal's Application Platform, Osama Bedier, VP of platform and emerging technology at PayPal, has posted an article on the PayPal Blog saying: "...it is true that PayPal will be the first and only global payments platform open to third-party developers allowing them to easily monetize their ideas." Following the TechCrunch story earlier today about PayPal's Application Platform, Osama Bedier, VP of platform and emerging technology at PayPal, has posted an article on the PayPal Blog saying: "...it is true that PayPal will be the first and only global payments platform open to third-party developers allowing them to easily monetize their ideas."


]]> ECommerce Payments PayPal Payments News Editor Mon, 06 Jul 2009 16:41:10 -0700 http://www.paymentsnews.com/2009/07/paypals-platform-for-third-party-developers.html MasterCard Extends Agreement With OptumHealth http://feeds.paymentsnews.com/~r/PaymentsNews/~3/_tNGO6bRs6Q/mastercard-extends-agreement-with-optumhealth.html http://www.paymentsnews.com/2009/07/mastercard-extends-agreement-with-optumhealth.html MasterCard has announced a multi-year contract extension with OptumHealth Inc.'s OptumHealth Bank to issue MasterCard cards for health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs), including the accounts they manage for UnitedHealthcare members. The OptumHealth MasterCard cards can be used as a form of payment, tied to these tax-advantaged accounts, for eligible medical expenses, such as copayments, deductibles, prescriptions, vision care and certain over-the-counter items. "With health care-related expenses continuing to rise, prepaid health care cards provide an efficient, electronic payment solution to replace cumbersome paper-based administration," said Chris McWilton, president, U.S. Markets, MasterCard Worldwide.... MasterCard has announced a multi-year contract extension with OptumHealth Inc.'s OptumHealth Bank to issue MasterCard cards for health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs), including the accounts they manage for UnitedHealthcare members. The OptumHealth MasterCard cards can be used as a form of payment, tied to these tax-advantaged accounts, for eligible medical expenses, such as copayments, deductibles, prescriptions, vision care and certain over-the-counter items.


]]> Health Savings Accounts Healthcare Payments MasterCard Payments News Editor Mon, 06 Jul 2009 06:57:03 -0700 http://www.paymentsnews.com/2009/07/mastercard-extends-agreement-with-optumhealth.html Headline News - July 6, 2009 http://feeds.paymentsnews.com/~r/PaymentsNews/~3/y-S9v4ZbD_c/headline-news---july-6-2009.html http://www.paymentsnews.com/2009/07/headline-news---july-6-2009.html NYTimes.com: Social Security Numbering System Is Vulnerable to Fraud, Researchers Say Merchant Advisory on the MasterCard Agreement to Prepay Future Payments at a Discount Discover Financial Services Announces Public Offering of Common Stock TechCrunch: Paypal Looks to Crush Amazon’s Fledgling Payment Service With A New, Secret API BankerVision: Innovation and the Future Proof Bankl - now available for pre-order The Coffee Club to Deploy MICROS Simphony POS to More Than 200 Stores BankInfoSecurity: Heartland Tests End-to-End Encryption; Gets Good Reviews CreditCards.com via MSN Money: What's in the credit card experts' wallets? Financial Services: No Return to Growth Until First Half...

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.


]]> Payments News - Headline News Payments News Editor Mon, 06 Jul 2009 05:37:59 -0700 http://www.paymentsnews.com/2009/07/headline-news---july-6-2009.html