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 [...]
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Consumers transfer tens of billions of dollars from the United States each year in international remittances. In 2009 the World Bank estimated that US$48 billion was sent from American consumers to friends and family in other countries, a number that represents 0.3% of our GDP.While consumer international remittances are a big business, transparency and consumer protection [...]
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Glenbrook recently conducted two surveys to develop a detailed understanding of the ideal cross-border payments solution from the perspectives of both payments professionals and payments initiators. We are publishing the results today to coincide with Sibos, the annual international banking conference taking place this week in Toronto. Our research was sponsored by Earthport LLC. In March 2011 [...]
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Glenbrook’s Carol Coye Benson and Erin McCune are interviewing leading commercial payment providers and enablers to understand whether we’ve finally reached the ‘tipping point’ for B2B payments. This post featuring Western Union is the second of a series of interviews that we will be featuring here at Payments Views. You can learn more about the [...]
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Got back this morning after a whirlwind two days in Austin for NACHA Payments 2011. I was in briefings or meetings nearly the whole time, so I barely attended break outs and skipped all of the general sessions, but here are my reflections based on my observations, various conversations on the exhibit floor, and my [...]
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New Glenbrook research, sponsored by Earthport, indicates that as companies do business with an increasing number of customers and suppliers over seas, they desire better cross-border payment systems. Slow funds clearing, complicated reconciliation, and lack of transparency in foreign exchange fees make cross-border payments particularly challenging for businesses large and small. These are among several key [...]
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This week I’ve been in Amsterdam for Sibos – the annual international banking conference sponsored by SWIFT. (For those of you who aren’t familiar with SWIFT it is a consortium of worldwide banks that runs a global secure network connecting banks in over 200 countries. Interbank messages to support payments and brokerage trades all travel [...]
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Today, The Clearing House’s CHIPS wire payment system is 40 years old: ancient for an electronic payment system. It is one of two wire payment systems in the United States; the second is FedWire operated by the Federal Reserve. Wires constitute a relatively small number of US payment transactions but they account for the vast [...]
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Here at Glenbrook, we work closely with eCommerce merchants on issues and opportunities that they confront every day. Increasingly, the questions we hear surround the topic of “going global” — “What countries should I sell into? What local payment methods are important? Who can provide my company’s payment services over seas? It seems that U.S. [...]
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Last Thursday evening I attended a superb mobile payment panel organized by mPayConnect and co-hosted by the Wharton and Harvard MBA alumni associations at the Wharton West campus in San Francisco. The evening’s topic was From Afghanistan to Silicon Valley: Mobile Financial Services for the Next Billion Customers. Menekse Gencer of mPayConnect moderated and brought [...]
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In just 30 days, on September 18th, the new International ACH format – IAT – and accompanying NACHA rule changes go into effect. This is the most significant change to the ACH network in decades, affecting corporate payment initiators, financial institutions of all sizes, financial software companies, and payment service providers. The new rules have [...]
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GTNews – the go to source for global treasury news – is soliciting questions about SWIFT connectivity for Corporates. If you’ve been meaning to learn more, go to the GTNews home page and navigate to the blue box on the bottom right.
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Editor’s Note: This is one of a pair of ACH commentaries that we are publishing today on Payments Views. Be sure to also read Carol Coye Benson’s post “ACH: Big Questions for the Biggest Network” based on her recent interview with NACHA CEO Jan Estep. I recently presented to TAWPI’s Payments Capture and Clearing (PCC) [...]
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Glenbrook’s Carol Coye Benson and I discussed B2B payments with Kevin Phalen of Bank of America this last week. Kevin is an Integrated Debt and Treasury Solutions Executive and joined the bank nine months ago, having previously held positions at JPMorgan Chase, First Data Corporation, MasterCard International, and Sears Credit. Not surprisingly, Kevin’s outlook for [...]
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Recently a number of ecommerce merchants and traditional companies have asked us, “Can I just outsource ALL of my payment processing? I’ve had it!” At first we suspected that these requests were driven by PCI compliance concerns. As it turns out that’s only a small part of the motivation. Companies are reacting to ever increasing [...]
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