On January 26, FIS announced a new mobile payments solution using technology provided by Paydiant. In its announcement, FIS said: This cloud-based payment solution is adaptable and secure, requiring only downloadable applications for both consumers and retailers. Importantly, the mobile payments solution can be built into retailers’ and financial institutions’ existing mobile applications, preserving brand [...]
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Curious about what payments professionals were reading last year? Here are the top books ranked by sales made through our Payments News Book Store on Amazon.com: Payments Systems in the U.S. – A Guide for the Payments Professional Written by Carol Coye Benson and Scott Loftesness of Glenbrook Partners, this book provides a comprehensive description [...]
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As we’re winding down for the year, we wish you the best for you and your family this holiday season! At Glenbrook, we thrive on thinking about how payments are evolving and how these changes will affect us in the years ahead. In this look back at the important payments themes of 2011, we share [...]
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For those of us following the evolution of mobile payments in the US, it was quite a week indeed. What with PayPal’s peek behind the curtain at enabling its users to pay at physical POS merchants and MasterCard’s Investor Day briefing and demonstrations of its various mobile marketing and mobile payments initiatives. What are we [...]
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Every so often, we can be witnesses to disruptive innovation in action. It’s exciting when it happens – for those who see it. Alas, most don’t see it – although they will eventually. Which pair of glasses are you peering through? For those who can see it, there’s disruptive innovation in action at the moment [...]
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In a VeriFone press release today titled “VeriFone Says Merchant Buy-In Key to Success of Mobile Commerce“, VeriFone CEO Doug Bergeron outlined six “rules” that he said “industry participants need to adhere to in order to ensure success of mobile commerce.” Bergeron’s rules are a good start at what the payments industry needs to consider [...]
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I’m sure you’ve seen it – there’s been so much “buzz” in the press over the last few weeks about mobile payments. Yet, in our partners’ meeting at Glenbrook earlier this week, I told my colleagues that if I knew of a way to short “mobile payments”, I’d be all over it. Follow along as [...]
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One of the more interesting elements added late in the game to the Durbin amendment was the language added around card-related fraud costs. This has led to much speculation about what this might mean for various anti-fraud technologies (e.g., EMV in the US, a mandate for 3-D Secure for online ecommerce, etc.) as the Fed [...]
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Today, I tried an experiment – holding office hours. Isn’t that such a throwback to your old college days? Several folks have asked about how it went – so here’s a brief summary. Turns out it was good fun – and hopefully this also proves to be productive for Glenbrook in terms of future business. [...]
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Today’s announcement of American Express acquiring Revolution Money caught many of us industry pundits by surprise – especially given the $300 MM price tag that Amex paid for the deal. But, upon reflection, and after listening to the Q&A section of Amex’s conference call earlier today, you can see why they were motivated to do [...]
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Over on the Credit Slips blog, Adam Levitin writes about the implications of remote deposit capture for the banking industry. I see a parallel between what’s happening with RDC and what happened 20+ years ago in the credit card business with the deployment of electronic draft capture POS terminals. What was essentially a paper-based local [...]
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Last week, I was thinking a bit about the many issues of fraud in the card payments world and how the lack of a business case within the industry itself has slowed adoption of various technologies that could be deployed to reduce fraud. It struck me that the old but well proven idea about “broken [...]
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Some of us payments geeks often lose sight of what merchants really want – they just want to sell more. Selling more stuff is like 10 times more important to them than saving money on their costs of payment acceptance. Bill Me Later is but one recent example of merchants (online in this case) will [...]
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In a frankly depressing but undoubtedly realistic column this morning titled “National Addiction to Easy Credit Remains Consumers’ Downfall“, Michelle Singletary, the Washington Post’s personal finance columnist, writes that the credit card reforms being put into regulation by the Federal Reserve and potentially being accelerated/enhanced by Congressional action sometime soon won’t deal with the root [...]
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