Scott Loftesness

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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Last week, Visa reported its second fiscal quarter financial results – and included a mention that Visa’s US debit card purchase volume in the fourth calendar quarter of 2008 slightly exceeded that of its US credit card purchase volume ($206 billion vs. $203 billion). Today, in another press release, Visa reinforced that point. Six years […]

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Erin tweets from NACHA’s Payments 2009 in Orlando that attendance this year is about 2,000 – down about 1,000 from last year’s turnout. She’s also wondering what happened to the Wi-Fi in the Payments 2009 conference venue – it’s missing in action! (BYON is my motto – Bring Your Own Network!) Follow more of Erin’s […]

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I recently was driving down Hamilton St. in Palo Alto when out of the corner of my eye I spotted Zong‘s new office. This was the first time I’d ever seen a storefront office with “Mobile Payments” on it – made me smile!! Zong is doing interesting things enabling mobile consumers around the world to […]

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Advertising Age picked Bank of America’s mobile banking efforts as one of the leaders in its Digital A-List 2009. Rita Chang writes: Underlying all of the marketer’s moves into mobile services and marketing is a key insight: Give people more control over their banking on their own terms, and you’ll win their loyalty. How about […]

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While we naturally tend to focus on all of the innovative things that have happened in payments over the years – brought to us by upstanding companies and institutions – there’s also a dark side to innovation that sometimes is the elephant in the room. I’m talking about the innovations that fraudsters continually cook up […]

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In his email to me earlier today telling me about Wells Fargo’s new presence on Twitter, Social Media Marketing VP Ed Terpening used a phrase that really caught my eye and captured the essence of what Wells Fargo is doing far beyond simple online banking: It’s important that we be where our customers are, and […]

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