Scott Loftesness

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 […]

{ 4 comments }

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 […]

{ 2 comments }

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 […]

{ 5 comments }

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 […]

{ 10 comments }

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 […]

{ 1 comment }

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 […]

{ 1 comment }

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 […]

{ 0 comments }

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 […]

{ 0 comments }

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 […]

{ 0 comments }

We often think of innovation as being primarily technology-driven – but there are some great examples of innovations in banking that were simply business model or process changes involving little, if any, new technology. Two examples that have proven very valuable financially to US banks in recent years involve simply the handling of transactions being […]

{ 4 comments }

Some upcoming events of note for those interested in better understanding the process of innovation: The Cards and Payments Australasia Conference being held in Sydney, Australia this week includes a full day (Thursday) devoted to Innovation in Payments. Topics to be covered focus on both the issues of payments innovation in Australia along with the […]

{ 2 comments }

Following up on our social media workshop last Thursday, we’ve just started a new group focusing on Social Media in Financial Services over on LinkedIn. If you’re interested in exploring how social media is affecting consumer financial services, you might want to also tune in there.

{ 0 comments }

Recently, I’ve been studying innovation in payments – trying to identify the factors that influence market success (rare) vs. market failures (much more common). Certainly, the story of PayPal (as the most successful payments innovation in a long time) is at the center of my analysis. On his Redeye VC blog, First Round Capital’s Josh […]

{ 9 comments }

Erin McCune and I had a lot of fun today teaching our Workshop on Social Media (aka Web 2.0) and Financial Services. As seems to happen more and more these days, an informed and interested group adds their experiences into the mix and the combined information shared and mutual learning that results is much greater […]

{ 1 comment }

Yesterday, Google Checkout announced that it was changing its fee structure beginning May 5 – eliminating the previous credit that Google AdWords customers got that reduced their Google Checkout fees. Instead, the new Google Checkout fee structure essentially parallels that of PayPal’s – a long-standing fee structure that the online payments leader has had in […]

{ 11 comments }

Clicky Web Analytics