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Forbes.com: E-Business News   Advice For Jerry Yang   Faced with activist shareholder Carl Icahn, what should be the Yahoo! chief's next move? Big Guns Tackle Next-Gen Ethanol   DuPont forms venture with Denmark's Danisco for cellulosic ethanol. Making Social Sites Safer   A new task force that includes MySpace, Facebook, Google and Microsoft is mulling ways to make social networks safer places for kids. Gene Drugs For Untreatable Diseases   Past efforts to use gene therapy have often been disastrous. Sangamo BioSciences has a new approach. Sponsor's Content: Earth in the Balance Sheet: Sustainability Reports Sure, the pictures are nice. But in-depth sustainability reports are more than good PR. They provide better information to stakeholders and rich data to guide wiser management decisions. Third Take Likely On Take-Two Bid   EA may have to extend its takeover offer again. Too bad it didn't hold its cards a bit closer.

Computerworld E-Business News  Icahn to launch proxy fight against Yahoo Billionaire Carl Icahn will proceed with his plan to launch a proxy battle for Yahoo's board Netflix tops customer satisfaction survey Consumer satisfaction with online retail was up 1.4% from last year, according to a survey. Survey: 20% in U.S. have never sent an e-mail Parks Associates' study shows "the significant digital divide between the connected majority and the homes in the unconnected minority that rarely, if ever, use a computer." Think a gallon of gas is pricey? GasPrices.com to be auctioned starting at $200k With gasoline approaching $4 or more a gallon around the U.S., the domain name GasPrices.com will soon be up for auction starting at $200,000. Craigslist countersues eBay, escalating legal fight Craigslist has countersued eBay, accusing the online auction site of false advertising, trademark infringement and other wrongdoings. Sopranos, HBO shows whack flat-fee pricing on iTunes Apple is adding several shows from HBO to its iTunes lineup and will charge more than its standard fee for some of them, a move that could spell the end of the store's flat-fee pricing structure. More E-Business News... View more E-Business news and analysis from Computerworld.com.

Payments News - from Glenbrook Partners Thu, 15 May 2008 06:35:18 -0700 Credit Card Users Just Spend More In an article titled 'Credit Cards Cost, No Matter What', the Washington Posts's personal finance columnist Michele Singletary writes that, even if you're paying off your credit card charges each month, you spend more when you use credit cards that if you just paid by cash. She suggests trying an experiment: "If you don't believe the research, try this experiment: For one month, don't use a credit card. Make all your purchases with cash." Visa Introduces the Visa Meetings Card Visa Inc. has announced the Visa Meetings card, the newests member in its suite of commercial payment solutions to help businesses more strategically manage this expense category. Visa's Operating Regulations Now Available Online As announced last week, today Visa Inc. has made available its various regional Operating Regulations on its corporate web site - except for Visa Europe which remains and separate entity. Headline News - May 15, 2008 Visa, MasterCard fight fee regulation plan VeriSign Passes Online Security Milestone With One Million Active SSL Certificates FICO Credit Scores Coming to Russia with NBKI Alliance Data Signs Multi-Year Extension Agreement With Top-10 Client and Leading Specialty Retailer Dress Barn, Inc. Progressive Grocer: New Ad Campaign Blasts U.S. Interchange Fees as Among Highest in the World Lumidigm Fingerprint Sensor Now Standard Equipment in Diebold identiCenter Fair Isaac Announces Real-Time Faster Payments Fraud Solution Bankers' Bank First to Reach Milestone with Client-to-Client Image Exchange Zopa Celebrates Back-to-Back Webby Wins CNN Money: Ahead of the Bell: Credit card fee fight Note: Throughout... House Judiciary Committee Holds Hearing on US Interchange Fees As we mentioned here on Payments News on Monday, the House Judiciary Committee is holding a hearing on Thursday, May 15th beginning at 11 AM Eastern time on H.R. 5546, the “Credit Card Fair Fee Act of 2008”. As of tonight, the committee's website doesn't list the witnesses who will be testifying - but it promises that a live webcast of the hearing will be available. As an editorial comment, many of us in the payments industry find the "solution" proposed in this legislation to be overly complex. Read the actual text of the draft legislation - and you may... What's the Industry Cost of PCI Compliance? A few weeks ago, as part of an article about Hannaford's recent card data breach, I blogged about my 'guestimate' of the cost of PCI compliance across the industry. I said: "Seems like somewhere between US$100 million and US$1 billion?" and asked for reactions. No one reacted - so maybe everyone agreed with my estimate? Tonight at dinner with some sophisticated, experienced players actively involved in the business of PCI compliance, I posed the same question. After chewing on it a while (it takes a few minutes to comprehend the magnitude of the question!), they settled in on the figure... A Look at the Uptake of Mobile Banking in the US Over on his Netbanker blog, Jim Breuene takes a look at the uptake of mobile banking in the US based upon Bank of America's latest quarterly report. Top Five Tips for Small Businesses to Manage Credit Fifty percent of surveyed small business owners stated that “economic uncertainty” is one of the biggest challenges faced in the growth and survival of their business, according to the National Small Business Association’s 2008 Survey of Small and Mid-Size Businesses. Chase Card Services has published a set of five tips for small business owners to help manage their credit relationships. UK's National Payments Council Unveils National Plan for Payments 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 innovation in payments, fraud and security, and consumer education about payments. A Report from CTST 2008 in Orlando The Smart Card Alliance published a press release this morning with some highlights from the CTST 2008 conference now underway in Orlando - saying that 'the buzz was about mobile payment and near field communication (NFC) on the first day of the joint Smart Card Alliance annual meeting and CTST conference.' Version 1.2 of the PCI Data Security Standard Coming in October The PCI Security Standards Council has announced the timeline for the release of PCI DSS version 1.2, scheduled for availability in October 2008. According to the Council, the new version of PCI DSS will 'enhance the clarity of its technical requirements, offer improved flexibility and address new and evolving risks and threats.' Mobile Money Summit 2008 The GSMA's Mobile Money Summit 2008 is taking place today and tomorrow in Cairo, Egypt. An impressive list of speakers will be presenting their views on mobile payments. We look forward to hearing more news from the summit later this week. American Express Promoting Gift Cards American Express has announced 'an in-store promotion enabling shoppers to receive a free Spring Fling Card worth $25 from American Express Incentive Services when they purchase two American Express Gift Cards of any value at select drug stores and supermarkets, and at American Express Travel Service offices, through June 30, 2008.' MasterCard Foundation Focuses on Microfinance Professionals The MasterCard Foundation has announced the launch of its Scholars Program by awarding grants totaling $600,000 to six leading microfinance training institutes. The foundation says its program will fund 200 scholarships for staff working in microfinance in Africa, Asia, Eastern Europe, Latin America and the Middle East to participate in management and professional development courses. A Look at Tyfone's Mobile Payments Approach Tyfone was one of the companies demoing at the recent Finovate Startup conference in San Francisco (see my notes here). In a press release this morning, Tyfone said they'll be at the Payments 2008 conference in Las Vegas next week demonstrating its mobile payments technology. What's interesting about Tyfone's approach is their effort to be independent of both handset device suppliers as well as wireless operators. The Tyfone solution is based upon a 'mobile phone memory card with SmartCard RFID/Near Field Communications (NFC) technology' - that plugs into the memory card slot on mobile handsets suitably equipped. I'm not sure... Citi Enhances Diamond Preferred Suite of Cards Citi has announced enhancements to its Citi Diamond Preferred suite of cards - saying the cards now offer 'an array of exceptional privileges and benefits typically found only in fee-based rewards credit cards -- all for no annual fee.' Travelex Cash Passport Prepaid Foreign Currency Card Debuts Travelex Cash Passport, the first prepaid foreign currency card in the United States according to the company, launched May 1. The card allows travelers to load and lock-in their rate for British Pounds or Euros. Photo Gift Cards for Subway PhotoGIFTCARD.com has announced that it has signed an agreement with Value Pay Services LLC, the issuer of the SUBWAY Card, to manage online gift card fulfillment for the SUBWAY Card program, including its Limited Edition and Photo Gift Card programs. South African Banker Sees a Rich Market in the Poor with Mobile Craig Timberg writes from Johannesburg for the Washington Post about Brian Richardson, CEO of Wizzit, a South African company focusing on 'getting basic banking services to the world's poor.' Richardson's a believer in mobile banking - saying that 'mobile banking is far more compelling for the unbanked than for anybody else." I love Wizzit's tagline: 'With WIZZIT, you have your bank in your pocket.' Headline News - May 14, 2008 Nuance Helps Companies Create Stronger Security Measures with Authentication Solutions in Call Centers Mark Greene, Fair Isaac CEO, Elected to Capella Education Company’s Board of Directors Top Credit Union Chooses Online Resources’ Account Opening The TJX Companies, Inc. Completes Previously Announced MasterCard Settlement; Acceptance Rate Exceeds 99% Ghana to Make Leap to Cashless Payments Network SunTrust Takes Most Innovative Feature Award for Fraud Inspector Coinstar Sends Letter Urging Stockholders to Re-Elect Incumbent Directors Leading Global Smart Card Providers Fueled by U.S.-Based Solicore Atlanta Journal-Constitution: Ex-Tech worker pleads guilty in credit card fraud Phoenix Business Journal: Chase cutting 420 jobs in... Summer Reading Recommendations: Payments Security Two important new books about security - and payments security in particular - arrived on my desk this week. The first book - the second edition of Ross Anderson's Security Engineering - provides fascinating insights into all of those things that are often overlooked when designing secure systems. Anderson provides a comprehensive survey of the issues, the nature of successful attacks, with serious recommendations on how to simply do better across a range of security applications. This is a big book - not exactly suited for reading on the beach - but important nonetheless! Rated 4.5 out of 5 stars... Deluxe Teams with The Bancorp Bank for Prepaid Cards The Bancorp Payment Solutions Group, a division of The Bancorp Bank, has announced it will be teaming with Deluxe Corporation, to offer the DeluxeCard agent bank program providing a turnkey prepaid card service to financial institutions. Consumers' Card Rewards Could Be Cut By Interchange Legislation Robin Sidel writes for the Wall St. Journal about Thursday's House Judiciary Committee hearing on the Credit Card Fair Fee Act of 2008. Sidel writes that one effect of the legislation, if passed and signed into law, would reduce interchange fees paid to banks and, therefore, force issuing banks to cut back on their card reward programs. While merchants are saying that any interchange fee reductions would be passed along to consumers through lower prices, many in the industry say that is unlikely to be the case - and point to the lack of price reductions following action taken by... SWIFT Annual Report Available SWIFT's 2007 Annual Report is available for download . "SWIFT is a community-inspired co-operative, founded by and for the financial services industry. We work globally with more than 8,300 organisations including banks, market infrastructures, securities institutions, corporations, network providers, business partners and technology companies to ensure the financial world can carry out its business operations with certainty." [Hat tip: Chris Skinner] Mobile Phones Are More Important than Wallets or Keys Nortel has released results of a new study of the 'Culture of Connectivity' saying we're entering a period of hyperconnectivity. One of the findings: when asked which item people would take if they had to leave the house for 24 hours, more than 38 percent of global respondents chose their mobile phone over their wallet, keys, laptop and MP3 player. Less than 30 percent chose their wallet first. In Latin America, more than 50 percent chose their mobile phone over any other item. The hyperconnecteds preferred leaving with their laptops. The study is available online with registration. They also have... Bank of America's Keep the Change Reaches $1 Billion Milestone Launched two and a half years ago, Bank of America's Keep the Change savings program has helped its customers save more than one billion dollars in customer round-ups and bank-matching funds, the bank announced today. Fedwire Funds Service, CHIPS Announce New Formats Support 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. Smart Card Alliance Announces 2008 OSCA Awards The Smart Card Alliance has announced the 2008 award winners for "Outstanding Smart Card Achievement" (OSCA) in the North American and Latin American smart card industry during its annual conference, taking place at the CTST 2008 The Americas Conference and Exhibition in Orlando this week. Chase Payroll Card for Nursefinders Provides Daily Salary Payments In an economic environment where many workers are feeling the pinch of the rising cost of living, Nursefinders Inc., one of the nation’s largest healthcare staffing providers, has announced that it is offering daily salary payments to temporary employees who have registered at no cost for a Chase Payroll Card. Upon completion of a daily work shift, an employee’s payroll card account is credited with salary payment as quickly as two hours after an approved time card is submitted. Blackhawk Network Announces Hawk Awards Blackhawk Network has announced the winners of its Hawk Awards, honoring four companies’ and one industry leader’s excellence in the gift card industry. Winners were chosen in several areas; Card Design, Product Innovation, Industry Achievement and Industry Pioneer. New Online Banking Report: Social Investing Communities A new Online Banking Report has been published titled 'Online Investing Communities: Will social networking revolutionize saving & investing?'. From the announcement: 'We believe social networking will eventually play a large role in online investing, and evidently we are not alone. We found 54 companies involved in investment information exchange and only six of those have monthly traffic of 100,000 or more.' NACHA Names Janet Estep as Next CEO The NACHA Board of Directors has selected Janet O. Estep, most recently an executive vice president with U.S. Bank, to succeed Elliott McEntee, who will retire as president and chief executive officer at the end of 2008. During the transition period, Estep will serve as president and chief operating officer and McEntee will continue as chief executive officer. More Legislative Backlash Over Interchange Fees In an article titled 'Welch pushes bill to trim back credit card fees on businesses' in the Barre-Montpelier Times Argus, Peter Hirschfeld reports from Vermont about Rep. Peter Welch's news conference yesterday where he attacked 'rising credit card fees' and announced plans to introduce new legislation concerning them later this week. "It's a near monopoly they have," Welch said of VISA and MasterCard. "And, as is often the case with monopoly power, it's abused." More information is available on Welch's web site. INSIDE Contactless Ships Over 50 Million Contactless Units INSIDE Contactless has announced that shipments of its MicroPass intelligent payment platform for contactless payment cards has surpassed 50 million units. According to the company, 'MicroPass is used to power more certified card products than any other contactless technology, providing issuers with broad choices for card manufacturing. Its low power and high performance, combined with the industry's fastest transaction time and outstanding read distance, enables MicroPass to deliver a superior cardholder experience for a broad range of innovative uses.' Headline News - May 13, 2008 Zoot and ID Insight Partner to Deliver Address-Based Identity Fraud Solution Varolii Unveils Next-Generation Predictive Analytics for Customer Communications Emergence Capital Names Jeffrey E. Stiefler as Venture Partner Genesis Financial Solutions Launches New Originations Website for Non-Prime Consumers Four51 e-Commerce Platform Achieves Level 1 PCI Compliance to Protect the Security of All Credit Card Transactions on Its Network Times Online (UK): Low-risk credit card borrowers penalised Bank Of America Focused On Consumer Credit Amid Weak Economy Discover gets US antitrust OK for Diners Club buy Stop & Shop Expands Customer-Centric Assortment Planning Using IRI Loyalty Analytics Assortment Planner Solution Metatomix's... This Week's US House Committee Hearing on US Interchange Fees The US House Judiciary Committee is holding a hearing this Thursday, May 15th, on H.R. 5546, the “Credit Card Fair Fee Act of 2008”. That bill was introduced by committee chairman Rep. John Conyers, Jr. In an article titled "Old foes unite to keep charging credit card fees to merchants", The Hill reports that the "heated battle over the credit card fees charged to merchants has united two eternal foes" - namely, banks and credit unions. As of tonight, the witness list for Thursday's hearing hasn't been announced. Glenbrook's Roundtable on the Structure of the Merchant Marketplace Glenbrook's next roundtable on the Structure of the Merchant Marketplace will be held June 10th in Santa Clara, California. Registration is now open. Allen Weinberg and Carol Coye Benson will be taking a special look "under the covers" – focusing on the key industry verticals within the U.S. merchant marketplace. New Indictments for Stealing Card Stripes from Restaurant Chain Assistant Attorney General Alice S. Fisher of the Criminal Division and U.S. Attorney for the Eastern District of New York Benton J. Campbell have announced that 'three defendants have been charged in a federal grand jury indictment and complaint with illegally accessing the computer systems of a national restaurant chain and stealing credit and debit card numbers from that system.' FTC to Hold July 24 Town Hall Meeting on Contactless Payment The Federal Trade Commission and the Technology Law and Public Policy clinic at the University of Washington Law School have announced they will be holding a one-day Town Hall meeting entitled “Pay on the Go: Consumers and Contactless Payment" to be held July 24 in Seattle to explore emerging uses of contactless payment devices and their implications for consumer protection policy. According to FTC, the Town Hall follows up on its November 2006 forum, “Protecting Consumers in the Next Tech-ade,” which examined the key technological and business developments that will shape consumers’ experiences in the coming decade. FHA Encourages Lenders to Use Bill Payment Data for Loans PRBC, a bill payment credit bureau, has announced that its credit verification, reporting and scoring procedures meet or exceed new guidance provided by the Federal Housing Administration (FHA) for verifying "bill payment" histories and establishing credit scores for borrowers with little or no traditional credit files or FICO scores. Wednesday Webinar on Alternative eCommerce Payment Options Reminder: eBillme has announced a webinar this Wednesday, May 14, where Russ Jones of Glenbrook Partners will provide an in-depth look at the retailer integration process for several alternative payment options including: Bill Me Later, eBillme, Google Checkout, and PayPal. Registration for the webinar is available online. Colorado Labor Department Launches Automated Payment Card The Colorado Department of Labor and Employment has partnered with Chase to change the way benefit payments are issued by the state’s Unemployment Insurance Program. Recipients will be issued a Visa debit card called a Colorado Automated Payment (CAP) Card and benefits will automatically be deposited into their CAP Card account. The CAP Card can be used for purchases anywhere Visa is accepted. An FAQ on the CAP Card is available on the Colorado Department of Labor and Employment's web site. Universal Studios Partners with GE Money, American Express Universal Studios has announced it has entered into a multi-year marketing and financial services alliance with GE Money and American Express. Under the arrangement, American Express becomes the official payment of choice at Universal Studios Theme Parks Resorts; GE Money becomes the Parks' official financial services sponsor; and the companies launch the new Universal American Express Card issued by GE Money. US Credit Card Issuers 2007 Financial Results Cards&Payments has released the results of its Annual Bankcard Profitability Study finding that credit card issuers in 2007 generated a sizeable profit, though down slightly from the previous year. According to the study, the industry posted a collective after-tax return on assets of $18.08 billion, or 2.79% of average outstandings - down 1.58% from $18.37 billion and 2.97% in 2006. AuctionBytes Interviews Google Checkout's Prem Ramaswami AuctionByte's Ina Steiner interviews Prem Ramaswami, Associate Product Manager for Google Checkout, for an update on Google's payment service. Both a podcast and a transcript of the interview are available. Ramaswami says: "We want to create the fastest, safest and most convenient shopping method for our buyers to use, and we want to increase ecommerce, because we strongly believe that increasing ecommerce increases the size of the pie for everybody out there." Preparing for OFAC Screening on International ACH Transactions EPN, the ACH business of The Clearing House Payments Company, is urging financial institutions to start planning now to meet OFAC requirements for new international ACH transactions (IAT) in March 2009 and has created an IAT Readiness Checklist to help financial institutions prepare. SmartPay Launches Utility Bill Payment Service in China Shanghai SmartPay Jieyin, in partnership with China Unicom, China Unionpay and Huishang Bank, has launched its mobile wallet service for paying utility bills in Anhui Province. This service allows users to pay bills any time, any where, without having to go to banks or toll stations. SmartPay says" 'all they have to do is to send a SMS and bills are paid, saving time and cost.' Headline News - May 12, 2008 New Aite Group Report: Online and Mobile Banking Product Development Roadmap 2008 Credit Union Retail Delivery Convention in Chicago 'Reshaping The Playing Field Through Innovative Solutions' TheStreet.com: Credit vs. Debit Cards: Weighing the Options SmartMoney: 4 Credit-Card Protections Shoppers Should Know About New Jupiter Research Report: Alternative Payments Update - Tracking and Driving Consumer Adoption Datacard Group Introduces Revolutionary New Tamper Evident Security Laminate State Unemployment Insurance Programs Adopt QuickAddress Software for Address Verification FireEye Secures $14.5 Million in Series C Funding to Combat Growing Botnet Problem Gemalto and McAfee, Inc. Introduce Simple Two-Factor Authentication for Full Disk Encryption Key... Sometimes Just Being Persistent Gets Lower Credit Card Rates The Washington Post carries a Kiplinger.com story in today's personal finance section about Sam Sweet and how he's been effective at negotiating lower credit card interest rates from his card issuers. His strategy: he simply doesn't take "no" for an answer - typically escalating all the way to the president's office for each issuer. More on First Data Corp. and the Frontier Airlines Bankruptcy In a column titled 'No surprise: First Data nearly led to last of Frontier', business columnist Al Lewis writes for the Denver Post about First Data CEO Michael Capellas and his comments about the recent bankruptcy filing by Frontier Airlines that resulted from First Data requiring an increase in reserves from Frontier. Payments News - Weekly Wrap - May 10, 2008 Here's a review of this week's top stories on Payments News. If you missed it, last week's Weekly Wrap is here. Back to the future!: for fun, click for this week's activity here on Payments News last year! ACH News NACHA's Secure Vault Payments went live with its first merchant. (See more ACH, eCommerce Payments, NACHA and Secure Vault Payments news.) Chase News Chase announced it was investing in Rearden Commerce and entering into a strategic relationship to use Rearden's services. (See more Chase Card Services news.) Chase announced it was purchasing 47 percent of Target's credit card receivables. (See... eBay's PayPal-only Plans in Australia Stir Controversy Ina Steiner writes for AuctionBytes.com about new developments as eBay moves forward with plans to mandate PayPal on sellers in Australia. She cites several submissions to the inquiry into the practice being conducted by the Australian Competition and Consumer Commission. Credit Card Issuers Close More Inactive Consumer Accounts Lisa Scherzer writes for the Wall St. Journal that more credit card issuers are closing inactive accounts. She writes: 'As credit-card delinquencies rise, closing inactive accounts helps companies reduce their exposure to risky credit holders.' Security and Convenience - or Is It Convenience and Security? Jupiter's Ed Kountz blogs about alternative online payments ((PayPal, BillMeLater, Google Checkout and eBillMe). He writes: "A new JupiterResearch report indicates that consumers who are turning to alternative online payments are doing so for two primary reasons. The first is security -- in the form of not having to enter card information online. The second, convenience, is related—as anyone who has ever wanted to make a purchase on a PC upstairs, using a credit card located in a wallet or purse a floor or two away has found." Which do you think is most important for consumer adoption: convenience or... Disruption in the Payments World Celent has published a new report titled 'Disruption in the Payments World' saying that 'the current euphoric era for many issuers will be disrupted and quite possibly eliminated over the next three years.' Why? Celent's reasons include a forecast that interchange rates will begin to decline, that a large payments company will launch an alternative network to MasterCard and Visa, and that credit card issuers will need to diversify their payments mix by adding decoupled debit payment options. Debit Cards Replacing Cheques at Retailers in UK APACS, the UK payments association, has released figures showing that the debit card retains its popularity at retailers, with spending on debit cards increasing by 11% last year. According to APACS, this increase stands in stark contrast to paper cheque spending which declined by 7.5% in terms of value and 13% by volume over the same period. Credit card spending at retailers in the UK has not grown over the last three years. Visa Inc. to Make Operating Regulations Available to the Public Visa Inc. has announced that it will for the first time make its Visa International and Regional Operating Regulations available publicly, effective May 15, 2008. According to Visa, the Operating Regulations, which will be available on Visa's corporate website at http://www.corporate.visa.com, are 'the set of rules which govern the participation of issuing and acquiring financial institutions in the Visa system.' Visa also said that 'to protect cardholder and merchant safety and the Visa system, Visa has omitted proprietary and competitive information, as well as certain details from the rules relating to the security of the network. For example, in the... Beyond Voice: Mapping the Mobile Marketplace For the last two days, the Federal Trade Commission held a Town Hall meeting in Washington to explore the evolving mobile commerce (M-commerce) marketplace and its implications for consumer protection policy. The FTC has posted the agenda for the meeting along with webcasts of the sessions along with transcripts (to be available soon). Monitise, Metavante Partner For Mobile Money in UK In the UK, Monitise and Metavante have announced that they are working with Carphone Warehouse to launch a “mobile money” scheme that includes the introduction of a Carphone Warehouse prepay card managed directly from the mobile phone that can be used to shop in millions of outlets worldwide. Reserve Bank of Australia Comments on eBay's PayPal Mandate The Reserve Bank of Australia has made comments to the Australian Competition and Consumer Commission's inquiry into eBay's recent announcement that it would mandate the use of PayPal for payments on eBay's Australian site. The RBA comments: 'The proposed conduct by eBay is to mandate the use of PayPal for almost all transactions on the eBay site. This raises three potential issues in relation to the payments system. The first is that it could limit the ability of new on-line payment systems to become established and for alternative systems to compete in the on-line payments space. The second is that... Citigroup Holds Investor and Analyst Day Citigroup is holding an investor and analyst day today in New York. A presentation is available online along with a webcast. Included in the presentation discussing Citi's innovation efforts are mentions of its mobile banking and mobile payments efforts with Obopay, SK Telecom, AT&T and Firethorn (slide 17). In an article titled "Blue-Light Specials at Citigroup as Its New Chief Plans a Revival", Eric Dash reports for the New York Times on efforts by Citi over the last several months to dispose of some of its weaker business assets. Headline News - May 9, 2008 RioFlexPay - Easy front-end interface for Amazon FPS - Coming Soon! McAfee Uncovers Web Site For Stolen Bank Accounts Rocky Mountain News: Frontier filing surprised First Data CEO AP: EBay's PayPal rule in Australia draws fire New Celent Report: Mobile Banking Services in Western Europe Dallas Morning News: Amazon shoppers may have to pay sales tax soon [in Texas] AntiPhishing Working Group Calls for Papers for eCrime 2008 Internet Security Research Conference CNNMoney: Barely surviving on credit cards Online Resources Announces Two Key Internet Banking Wins New IdTechEx Report: NFC-Enabled Phones and Contactless Smart Cards 2008-2018 Sydney Morning Herald: RBA... New Jobs on PaymentsJobs.com New jobs have recently been listed on PaymentsJobs.com: Director, Chargebacks & Dispute Policy at American Express in Phoenix Payments Attorney at a Stealth Mobile Startup on the mid-Peninsula in the San Francisco Bay Area. Are you actively recruiting payments professionals? Post your job openings on PaymentsJobs.com! First Annapolis Navigator - April Issue The April 2008 edition of the First Annapolis Navigator is now available. This month's feature article is "Cross-Selling Commercial Cards." Other articles include: "Soft Economy Delivers Hard Hit to Retail Sector", "Mid-Size Internet Retailers Payment Acceptance Methods", "Marketplace Feature: Stock Market Performance", "Q1 2008 Credit Card Issuer Scorecard", and "Market Scan of European Bank - Issued Prepaid Cards." JPMorgan Selected by US Dept. of Commerce for Charge Cards The U.S. Department of the Commerce (DOC) has selected JPMorgan as its provider for charge card services. The order is part of the U.S. General Services Administration’s (GSA) SmartPay 2 program, the largest government charge card program in the world. Discover Card Wins Brand Keys Customer Loyalty Award Discover Financial Services has announced that its Discover Card was ranked No. 1 in customer loyalty among leading credit card brands, according to the 2008 Brand Keys Customer Loyalty Engagement Index report. Brand Keys identifies the four most important drivers of brand loyalty in the credit card category as Rewards and Services; Fees and Flexibility; Ease and Speed of Interactions; and Protection and Precision. Discover Card has won the credit card category in the index 11 years in a row. AuctionBytes Interviews Scott Thompson, PayPal CEO Ina Steiner of AuctionBytes.com writes about her interview with Scott Thompson, PayPal CEO. A podcast of the interview is available. She writes: 'Thompson talked about the competitive landscape in online payments and PayPal's focus in the next 12 - 24 months. He also shares his thoughts on eBay's Safe Payments policy, including what the PayPal-only policy on eBay Australia means for the rest of the world.' UK Banks Boosting Monthly Fees on Accounts James Charles reports for Times Online (UK) that several of the largest UK banks are increasing monthly fees on current accounts by up to 20 percent in advance of a ruling by the Office of Fair Trading (OFT) capping overdraft fees. Headline News - May 8, 2008 Times of India: Now, it's time for mobile banking Washington Post: Mobile Ads: Useful or Annoying? SVPCO: Check Image Volume Grew Strongly In April Seeking Alpha: CompuCredit Q1 2008 Earnings Call Transcript GE To Stop Providing Consumer Loans For RVs, Most Boats Boston Globe: Feedback, even if it hurts (Bank of America's online community) Hypercom officials blame first-quarter loss on business model transition Capital One Named One of the Best Adoption-Friendly Workplaces in America 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... Don't Play the Credit Card Game In her Thursday column titled 'Your Losing Hand', Michele Singletary reports for the Washington Post on last week's proposed rule changes by the US financial regulators re: credit cards. She writes: 'Although regulators are proposing to eliminate some of the more unsavory practices of the industry, many cardholders -- regardless of class, education or income -- can only win by not playing the credit card game.' Understanding the Payment Application Data Security Standard The PCI Security Standards Council has announced a complimentary educational webinar, “Understanding the Payment Application Data Security Standard” on Thursday May 22, 2008 at 11:30 a.m. EDT with a second session scheduled the same day at 7:30 p.m. EDT. An Update on Prosper's New Slogan, Advertising Jim Bruene's Netbanker reports on person-to-person lender Prosper.com's new marketing initiatives including its new slogan: "Let's bank on each other." More on the Prosper Blog. A Look at Orange Money Wireless operator Orange is testing in the Ivory Coast a new money transfer system: Orange Money. Strategies Telecom & Media interviews Marc Rennard, executive director in charge of Orange’s operations in Africa, Middle-East and Asia. about Orange Money. As we've seen previously with M-PESA in Kenya, the mobile operators are focusing much of their mobile payments initiatives on markets where a large majority of the population is unbanked. Credit Card Regulation is Overdue! That's the title of a Dallas Morning News editorial this morning commenting on last week's proposed rules changes that says 'enough is enough.' The editorial continues: 'New regulation is overdue. Creditors have been free to hike interest rates at any time and for any reason – and then apply the new rate to purchases the consumer has already made.' Federal Reserve Reports March Consumer Credit Stats The Federal Reserve reported today that consumer credit increased at a 7.2 percent overall rate in March 2008 - with revolving credit increasing at 7.9 percent for the month. Sony Announces FeliCa Technology Channel Program Sony Electronics has announced the establishment of an integrator and developer channel program for its FeliCa contactless integrated circuit (IC) chip technology. The FeliCa microchip provides a fast, convenient and secure all-in-one solution platform for multiple applications, including electronic pre-paid transactions, access, interactive signage and membership or loyalty rewards systems. The chip combines processing, storage and communication functions, and can be implemented in a variety of form factors including cards, key chains and mobile phones. The US Mobile Internet - Major Partners Join Together on Clearwire Clearwire and Sprint Nextel have announced that they have entered into a definitive agreement to combine their next-generation wireless broadband businesses to form a new wireless communications company. In addition, Intel Capital, Google, Comcast, Time Warner Cable, and Bright House Networks – have collectively agreed to invest $3.2 billion into the new company to be named Clearwire. Google's Larry Adler comments on the Official Google Blog about Google's participation in the new company. It will be fascinating to watch how this affects mobile Internet usage for financial services applications. Wikipedia has a comprehensive article about the WiMax technology that is... Pew to Promote Fair Bank Account Standards For 'Underserved' The Pew Charitable Trusts have announced a new project aimed at 'helping America's workers underserved by mainstream financial institutions secure access to safe, affordable, fair, and empowering bank accounts. The Pew Safe Banking Opportunities Project, a two-year $2.1 million initiative, will develop and promote standards for bank accounts so that moderate- and low-income households that are new to or have been left out of the mainstream banking system are less likely to have to rely on overly expensive, income-stripping financial products.' MasterCard Adds Fuel, Maintenance to Easy Savings Program MasterCard Worldwide says it is 'the first payments company to offer small businesses automatic savings on fuel and maintenance through the addition of the Fuelman Network to the MasterCard Easy Savings program.' MasterCard says its BusinessCard credit and signature debit cardholders enrolled in the program will now receive a 1% automatic rebate on fuel and a 5% automatic rebate on maintenance purchases at more than 16,800 participating locations in the Fuelman Network nationwide.