Carol Coye Benson

NACHA recently announced plans for a phased introduction of same-day settlement for ACH.  I spoke with NACHA President and CEO Jan Estep this morning about the initiative. First of all, I congratulate Jan – and the ACH community – for picking up the fallen banner, for as we know, a previous version of this was […]

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I can’t help it – I’m a consultant; I love putting things into categories and into context.  I always find pictures and “maps” help when things get confusing.  So here’s my latest attempt at making sense of what’s going on with mobile payments and cards. What really jumps out for me is the issue of […]


What’s the difference between card acceptance and a deposit? In both cases, money is being delivered into a merchant’s bank account – in fact, a purist would point out that a deposit actually is the last stage of card acceptance for a merchant. But consider instead a different kind of deposit – something that is […]


What a year it has been! Twelve months ago, there were still people in our industry who didn’t know what Bitcoin was. There were still people who believed that EMV would roll out in the U.S. just like it did in the U.K. There were still people who thought that the developing world would build […]


Here are some thoughts on big actions that industry incumbents could take to strengthen their positions and the U.S. payments industry. What do these ideas have in common? First of all, they are infrastructural or market-wide. Secondly, they all ask one or more incumbent constituencies to bite the bullet – and accept some reduction of […]


As I read about mobile payments, it always entertains me when relatively green journalists make references to using mobile phones rather than payment cards to make purchases. Typically, they are confusing the instrument (the phone, the plastic) and the system: after all, most mobile payments are made using card systems. I think there is an […]


A new wave of payment capabilities is hitting shores around the world. This wave is made up of better, faster, and cheaper “credit-push” systems.  That means that transactions enter the payments systems from the sender’s bank (like a wire transfer) rather than from the recipient’s bank (like a card or check).  Credit-push payments have a […]


It’s hard to believe that the end of 2012 is in sight – and it’s almost equally hard to believe that three years ago, a few of us at Glenbrook were thinking, “gee – all the exciting stuff in payments has already happened”. Yet we don’t think we’ve ever seen so much action in the […]


The NACHA membership has reportedly turned down the concept of “Same Day ACH“. This was a request for comment, put out about a year ago by NACHA staff, to — get ready for this — not move the ACH to same day, but simply allow originating banks the option of submitting a same day batch […]


I was in Washington this week for client meetings and to attend an FTC conference on mobile payments. At the conference, in addition to many regulatory lawyers and consumer protection advocates, there were the usual mobile payments suspects: Visa, MasterCard, Google, Isis, Intuit, etc., as well as a host of startups: LevelUp, Dwolla, Boku, and […]

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I’m at the Kansas City Federal Reserve Bank’s conference on Consumer Payment Innovation.  Bruce Summers, Former Director, Federal Reserve Information Technology, just finished presenting a major paper on payments system infrastructure and the Fed’s potential role in new systems in the future.  The paper, which builds on an earlier paper coming out of the Chicago Fed’s Symposium on […]


This is conference week for me! Today I’m sitting at Mobile Money Americas in Mexico City, with a fascinating group of people working on mobile wallets in countries throughout the region. Of the 129 live mobile money projects worldwide (and let’s not get distracted, right now, by defining that…), 17 are live in the LAC region, with […]


I had the great good fortune on Tuesday to sit in on the first day of the annual conference of the Institute for Money, Technology and Financial Inclusion. IMTFI is housed at U.C. Irvine and led by anthropologist Bill Maurer. The mission is to support research on money and technology among the world’s poorest people: […]


I’ve been thinking a lot about the opportunities around helping micro merchants accept electronic payments. You know, your basic nanny/gardner/hot dog vendor/flea market vendor scenario. There are two competing emerging-payments approaches to this market. One is mobile card acceptance, as evidenced by Square, Intuit GoPayment, and many others. In this model, which “rides the card […]


I want to be able to use my phone to tap a tag on a piece of merchandise at a store… and know that the item will be delivered to my home, and my card on file at the merchant be charged. I was in Macy’s yesterday, looking at bath mats – the line was […]


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