May 2008 | ePayments Blog

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NYCE Trend Developing Towards More PIN Debit Use

Posted by John B. Frank Thursday, May 29, 2008 0 comments

Image via WikipediaAccording to a press release from Acxsys and NYCE, during the four month period from December through March 2008, Canadian shoppers spent record amounts and made significantly more cross-border purchases in the US than last year.U.S. retailers experienced even more value from accepting Canadian PIN debit cards during the holiday, spring break and snowbird season through the Cross-Border Debit service. The service is offered through an alliance between NYCE Payments Network and...

MasterCard Investment Community Meeting

Posted by John B. Frank 0 comments

If you're interested in taking a look at the slide presentation from this morning's MasterCard Investment Community Meeting (it's in PDF format), simply click the link below:http://library.corporate-ir.net/library/14/148/148835/items/296007/Master_File_2008_ICM_05_29_SLIDE_SHOW....

On Global POS Interchange Fees

Posted by John B. Frank 0 comments

Image via WikipediaGlobal POS interchange fees increased 140% between 2000 and 2006, to $64 billion (€48 billion). This massive growth in POS interchange fees was mainly fuelled by a phenomenal increase in payment card purchase expenditure worldwide and increased interchange rates in the USA, and occurred despite reduced interchange rates in Australia, Europe and elsewhere.A new study by Retail Banking Research (RBR) analyses the evolving and increasingly complex landscape for POS interchange fees....

Payments News Weekly Wrap

Posted by John B. Frank 0 comments

The Weekly Wrap is compiled by Glenbrook's "Payments News" blog.Clicking any of the links will bring you to their site:ACH News As part of the Payments 2008 conference, NACHA announced that 18 billion automated clearing house (ACH) payments were made in 2007, a 12.6 percent increase over 2006. (See more ACH and NACHA news.) NACHA also announced the top 50 ACH originating and receiving financial institutions for 2007. JP Morgan Chase handled the largest number of ACH items in 2007. (See more ACH...

Upcoming Payments Related Events

Posted by John B. Frank Wednesday, May 28, 2008 0 comments

June 5-6 2008 - Payments Conference: Payments Fraud: Perception Vs. Reality,The Federal Reserve Bank of Chicago, The Chicago Fed offices,www.chicagofed.org/paymentsystemsJune 8-10 - 3rd Annual Underbanked Financial Services Forum,Doral Resort & Spa, Miami,The Center for Financial Services Innovation/Source Media,www.sourcemediaconferences.com/CFSI08/index.htmlJune 9-12 - Internet Retailer 2008 Conference & Exhibition,McCormick Place, ChicagoVertical Web Media LLC,www.internetretailer.comJune...

Visa Extends Fraud-Recovery Process to PIN-Debit Transactions

Posted by John B. Frank 0 comments

(May 28, 2008) Visa Inc. is extending to PIN debit cards a process for reporting and recovering fraud losses from data breaches. In effect for credit cards and the Visa check cards since October 2006, the process, dubbed Account Data Compromise Recovery, will apply to Visa’s Interlink point-of-sale debit and Plus ATM networks beginning Nov. 1st.The extension of ADCR’s provisions is not the result of any spike in PIN-debit fraud, according to Dave Van Horn, senior business leader, global fraud risk...

High Shipping Fees #1 Cause of Shopper Abandonment

Posted by John B. Frank 0 comments

Image via WikipediaIt appears from the data gathered by a recent PayPal survey, that online consumers have been spoiled by web sites offering low cost shipping. A statistically significant 43% of abandoned their shopping carts because shipping costs were too high. Here's the press release from PayPal...SAN JOSE, Calif.--(BUSINESS WIRE)--A survey conducted by PayPal and comScore revealed that unexpectedly high shipping fees are the number one reason consumers abandon online purchases....

e-Commerce Growth Rate Rebounds After Soft March

Posted by John B. Frank Saturday, May 24, 2008 0 comments

RESTON, VA, May 23, 2008 – comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released retail e-commerce data for April 2008, which showed that the year-over-year growth rate rebounded to 15 percent, following an increase of just 9 percent in March. Further details on April’s retail e-commerce are provided below and will be presented in greater depth by comScore Chairman Gian Fulgoni and comScore CEO Magid Abraham during a free, public webinar on Friday, May 30, 2008 at...

Microsoft Launches Innovative Search Rewards Program

Posted by John B. Frank Thursday, May 22, 2008 0 comments

I'm posting about Microsoft's new Live Search Rewards program because of the relationship it has to both the Internet Retail space and because it seems to suggest the makings for a potential online payment platform. Considering that Microsoft is going to offer cash rebates to consumers who use their Live Search to "find" and "purchase" products...they would have the desire to complete the process by implementing a way for consumers to pay for them via the very same platform.The numbers suggest...

More on Alternative Payments

Posted by John B. Frank Wednesday, May 21, 2008 0 comments

Alternative ways to pay for goods online are on the rise, driven by online merchants looking for more consumer-friendly options and consumers looking for greater security and choice. New research from TowerGroup notes that the alternative payment method known as the "nonbank wallet" is one area to watch in 2008.Within the last two years, the nonbank wallet category has seen a flood of new entrants. TowerGroup defines a nonbank wallet as an Internet-based storage service of consumer financial data,...

Accenture Payments Innovation Showcase

Posted by John B. Frank 0 comments

Accenture today announced it has opened a new facility at its research and development technology lab in Sophia Antipolis, France, dedicated to innovation in the rapidly growing global payments industry. The facility, called the Accenture Payments Innovation Showcase, focuses on original research and development in all facets of the payments business, including mobile communications and other point-of-sale technology, bank-to-corporate connectivity,...

Alternative e-Payment Systems Expected to Reach $156 Billion by 2012

Posted by John B. Frank Saturday, May 17, 2008 0 comments

New York, May 15, 2008 -- Today's tech savvy and possibly even eco-conscious lifestyles have led to paperless shopping and bill pay. Consumers are enjoying the ease of alternative online payment systems that offer greater privacy and security features than traditional payment systems as well as multiple checkout options. A new report from Packaged Facts, "The Alternative Payment Systems Industry in the U.S.," estimates total dollar volume of online alternative payments rose 33% over the 2006 level...

Interchange has Hearing...But Is Visa/MC even Listening?

Posted by John B. Frank Friday, May 16, 2008 0 comments

In one ear and out the other?It will be interesting to see what develops out of yesterday's hearing. On the one side the merchants are livid about the fees they pay, on the other side, people don't want the government to step in and essentially "price fix" an industry as that lays a bad precedent.So what to do? Well, if you're an Internet Retailer, the solution is simple! You can lower your Interchange by 100 Basis Points by switching to HomeATM's patented Web PIN Debit platform. No Government...

UK Payments Data Q1 from APACS

Posted by John B. Frank 0 comments

APACS has published its latest quarterly Statistical Release covering the first quarter of 2008."In the first quarter of 2008 there were 1.8 billion plastic card purchases made in the UK totalling £91.1 billion. The number of purchases was 8.9% higher than in the first quarter of 2007, and spending was 8.9% higher. Debit cards accounted for 72.8% of all plastic card purchases compared with 71.1% in the first quarter of 200...

Introducing Pariter Solutions...Country's Largest ACH Processor

Posted by John B. Frank Thursday, May 15, 2008 0 comments

To give you an idea how quickly the landscape of the payments industry can change, the biggest ACH Processor in the nation didn't exist until just now.Introducing Pariter Solutions...our nation's biggest ACH Processor...Wells Fargo and Bank of America said Thursday they are forming a joint venture to operate a single, combined automated clearinghouse (ACH) platform for both companies and their clients. Financial terms were not disclosed.The joint venture, Pariter Solutions LLC, will be the country's...

UK's Payment Council Unveils National Payments Plan

Posted by John B. Frank Wednesday, May 14, 2008 0 comments

The UK's Payments Council has unveiled the first national plan for UK payments - calling it "a strategic framework for payments innovation and change over the next decade."The National Payments Plan was developed after extensive consultation with the payments industry and users and includes statements of principle, specific actions and a number of focused reviews of key issues. The document covers current payment methods such as plastic cards, cash and cheques and also reviews the next wave of...

HomeATM Headline Payments News

Posted by John B. Frank 0 comments

This list was compiled by Glenbrooks Payments News. Clicking on any of the links will redirect you to Payments News website.First Quarter 2008 Financial ResultsVisa Inc. reported its first ever quarterly financial report as a public company. Visa also announced its first corporate responsiblity program in partnership with the Clinton Global Initiative. (See more Visa news.)MasterCard Worldwide reported financial results for the first quarter noting that gross dollar volume grew 14.1% (See more...

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