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News & Commentary
Content tagged with Payments posted in April 2010
Consumers Know About P2P Payments, Wary of Using Them
News  |  4/30/2010
Although person-to-person payments are not yet widely available, U.S. consumers get the concept of them, a survey released at this week's NACHA show and sponsored by NACHA, eCom Advisors, FIS and PayPal found.
Retailers to Banks: Give Us Chip and PIN, Electronic Checks
News  |  4/29/2010
Executives at three of the largest payment-generating retailers - Walmart, Best Buy and T-Mobile - were on hand at the NACHA Payments conference this week to tell bankers what they want and the trends they see on the horizon.
J.P. Morgan to Join Microinsurance Fund LeapFrog
News  |  4/29/2010
On May 6, 2010 at the IFC headquarters, the world's first microinsurance fund, LeapFrog Investments, will announce that the fund has raised a record amount for investments in Africa and Asia. LeapFrog will also announce new investor J.P. Morgan among other major institutional investors.
Online Bill Pay Users Less Unhappy Bank Customers, NACHA Survey Finds
News  |  4/29/2010
Online bill pay users are less likely to be dissatisfied bank customers than paper bill payers, according to a survey NACHA commissioned Javelin Strategy & Research to conduct and that was released at the NACHA Payments show in Seattle this week. NACHA is using the data to support its Pay It Green marketing initiative intended to spur adoption of online billing. Below is the vide
BofA Builds A Corporate Payment Hub
News  |  4/28/2010
One of the most commonly used phrases at the NACHA Payments conference this week is "corporate payment hub." All the big-booth vendors offer one, consultants and analysts say banks must have one. Not only is a universal payment platform needed to satisfy the needs of corporate clients who insist on being able to make any type of payment (ACH, EDI, wire, check, etc.) through one channel and have that payment information routed directly into their accounting systems, these proponents say, but addi
J.P. Morgan, SWIFT Unveil Message Format for Corporate Account Changes
News  |  4/27/2010
New ISO standard a first step toward automating treasury management processes across all banks along SWIFT or non-SWIFT networks.
Bankers Cautiously Intrigued By Square
News  |  4/27/2010
The youthful founders of payment startup Square, Jack Dorsey and Jim McKelvey, created a stir at the NACHA Payments conference yesterday. After their keynote panel, we asked attendees what they thought of the company and its scheme for letting people accept payments using a mobile phone and a small white cube. Everyone we spoke to had a strong opinion.
EBIDS Has Handled 4.5 Online Bills, Is Now Open to All Banks, Billers
News  |  4/26/2010
Online bill presentment is not new, but neither is it ubiquitous, Janet Estep, president and CEO of NACHA, pointed out today at a press conference at the Payments conference in Seattle. The payment organization's eBIDS bill presentment project is an effort to provide universal access to online bill presentment across financial institutions and billers, so that consumers can see and pay all
How Square's Model Could Take Over Mobile Payments
News  |  4/26/2010
Payment newcomer Square has ambitious plans to build a universal payment utility that will allow merchants and customers to send payments to each other, accepting payments by swiping cards with a small square device the size and roughly the shape of a marshmallow in conjunction with a mobile device. "A lot of people have mobile devices and are looking for new ways to manage their money and their life," said CEO Jack Dorsey at the NACHA keynote speech this morning. "Square is one way to make that
Hartsema Parlaying Love of Lockbox into Growth Strategy at Huntington
News  |  4/26/2010
Huntington Bank plans to grow its treasury management business in a dramatic way, says Doug Hartsema, senior vice president and director, treasury management, Huntington Bank, who sat down with us this morning at the NACHA Payments conference in Seattle. Hartsema is a payments veteran and player. He started his career at Wachovia, was there for 18 years in various positions in operations, trust, and treasury services, then moved to treasury workstation vendor Selkirk (in which Wachovia had bough
Analyst Labels M-Commerce Renaissance a Priority
News  |  4/26/2010
Banks making a concerted push to promote contactless payment technology are focusing on the wrong target and should switch their short-term focus to mobile commerce. That's the main conclusion of a new report by independent technology analyst Ovum, which finds that m-commerce is set to experience a renaissance as industry players express renewed interest and mobile banking services take root.
Is Blippy's Data Breach An Online Payments Cautionary Tale?
News  |  4/26/2010
The news that the card numbers of five Blippy users had been exposed to anybody with the search savvy to Google " +'from card'" came as a bit of a shock on Friday. The first question is, who would want to share with strangers all their credit card purchases at a site like Blippy, whose sole purpose is credit and debit card spending voyeurism? What kind of psychological need is being filled by broadcasting that you just purchased an i
Payments Execs Leery of More Regulation, Survey Says
News  |  4/22/2010
JERSEY CITY, NJ - April 22 — Fundtech Ltd., a global transaction banking solutions provider, today announced the results of a survey of payments industry participants. Survey results show pronounced differences between members of the corporate and banking communities on the matter of further government regulation, as well as an overall trend towards increasing value-added services in the industry.

Consumer Payments Flat, But Poised for Growth, IDC Survey Finds
News  |  4/20/2010
Same-day bill payment, mobile payments and prepaid cards are promising areas, according to IDC.
Wells Fargo Adds Software, Services to Corporate Cards
News  |  4/16/2010
The bank's recently developed iPhone app for corporate treasurers may be reconfigured for the iPad if customers ask for it.
MasterCard Spending $10s of Millions, Hiring Engineers for its New Labs
News  |  4/15/2010
Hiring engineers; planning to develop and test new ideas and turn them into products quickly.
Brits Have Mostly Traded Cash, Checks for Debit Cards, Survey Finds
News  |  4/15/2010
Only one in 20 British workers receive their pay in cash and by 2018, one in four of all transactions will be on a debit card, the Payments Council says.
Cassis Launches Its NFC Mobile Payments Service in U.S.
News  |  4/13/2010
System supports contactless mobile payments between phones and devices about four inches apart.
Alpine Bank Deploys Diebold Mobile Banking
News  |  4/12/2010
Colorado financial institution sees offering customers mobile banking services without requiring an online banking account as a competitive advantage.
Payments Startup Aptys Supports ACH, Wire, Check Images
News  |  4/12/2010
PayHub to give correspondents one platform to offer payments of all types to community bank clients.
MasterCard Partners with Next Jump to Rebuild Online Strategy
News  |  4/9/2010
Alliance to accelerate advances in e-commerce, fuel consumer-focused innovation with launch of MasterCard Marketplace.
NACHA Reports 18.76 Billion ACH Payments in 2009
News  |  4/8/2010
Year-over-year transaction volume up 2.6 percent, unauthorized debit transactions down 9%.
Mass.-Based StonehamBank Taps FIS to Launch Mobile Banking
News  |  4/6/2010
Technology provider's services allow small bank to offer big bank mobile services.
J.P. Morgan Collaborates With IBM To Offer T&E Solution
News  |  4/6/2010
J.P. Morgan corporate card meets IBM travel and expense software, with card transactions automatically populating expense reports.
Chase's Dimon Blames Card Losses on Economy, Card Act
News  |  4/2/2010
J.P. Morgan Chase, which has 145 million credit card accounts, 50 million credit card customers and $163.4 billion in credit card loan outstandings, lost $2.2 billion on its card business in 2009, according to a shareholder letter signed by chairman and CEO Jamie Dimon. The recession and the new Card Act were the causes of this setback, he said.
Adyen Lets Banks Extend Online Payments to Business Customers
News  |  4/1/2010
Hosted payment gateway also provides PCI-compliant security and analytics, so that business customers can keep close tabs on their customers' buying habits.
U.S. Bank Rolls Out Customizable Small Business Card
News  |  4/1/2010
Customers can design the look of their card and apply for discounts.

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