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- ADDING and REPLACING Green Dot Announces New Exclusive Distribution and Key Contract Renewals
- Parrot® Signs Distribution Agreement with Teletouch Subsidiary PCI Wholesale for Central Region States Texas, Oklahoma, Arkansas & Louisiana
- Finish Line to Present at the Citi 2012 Global Consumer Conference
- Chase Lends, Extends Small Business Lead
- Flash Valet Launches Mobile App-Based Solution for Valet Parking Industry
PYMNTS Voice
Commentary » PYMNTS Voice
Prepaid Tips for 2012: Why Fees Aren't Always the Answer
More from the "Tips for 2012" Series
B2B Payments Innovation: Back in the Spotlight?
There was a time not that long ago, when B2B payments innovation was perceived by many to be “out of vogue.” Back in the late 90s and early 2000s, B2B payments innovation was synonymous with an exuberant group of innovative B2B payment exchanges, marketplaces and hubs that failed spectacularly. Moreover, even the secular trends in payments over the last decade have made little impact in the dominance of paper-based payments, which still account for more than 80% of all payment transactions and over 70% of total payments volume in the B2B space. It is perhaps understandable that many entrepreneurs and innovators looked elsewhere for innovation opportunities during the last decade. In fact, with the exception of Remote Deposit Capture solutions, very little B2B payments innovation gained traction in the 2000s.
1 Million Acts of Payments Innovation: Capgemini on the Intersection of Developed and Developing Markets
The mobile phone is the first ubiquitous communication device in human history, paving the way for the most revolutionary event in the history of finance. As a consequence, mobile payments are an unprecedented opportunity to address four billion people in emerging markets.
Will Zong Make eBay the Future of Retail Commerce?
eBay’s announcement yesterday of its acquisition of Zong is just another interesting example of this e-commerce giant’s grand ambition to change the face of retail as merchants and consumers know it and experience it today. Here’s what I mean.
Dangers of Assuming Invincibility - Could Your Firm Go the Way of the Typewriter Makers?
There was a lot of great stuff that came out of the Payments Innovation Institute at Harvard last week but two anecdotes that have absolutely nothing to do with payments specifically, I think, provide some of the more thought provoking insights around the pitfalls and promise of innovation. See if you agree.
Analysis: Did Durbin Doom ISIS? Exec Reveals Reason for Strategy Shift
Hooray for the ISIS team for making the point that if Durbin is implemented as proposed, or close to it, innovation as we know it in payments will be decimated. John Stankey, AT&T's head of business solutions, said that Durbin’s impact was the reason for ISIS’ business model about-face and created the chain of events that lead to their strategy course correction. (Related article: CrISIS at ISIS?)
Outstanding in the Field: FinovateSpring 2011 Showcase
Finovate hosted their spring event this week at the San Francisco Design Center, bringing together the latest and greatest innovators for payments and financial service technologies in a massive exhibition hall in the city by the bay. The San Francisco Bay Area has been a global leader in business model and technology innovation, giving birth to such household names as Apple, Google, eBay, Hewlett-Packard, Intel... the list of global technology leaders born and bred in Northern California goes on and on.
CrISIS at ISIS
OK, I have to say that the news yesterday about ISIS did not come as a great surprise to me. We were pretty gloomy (even for us) on its prospects at the jump. This piece pretty much summed up our point of view on the joint venture and provided our initial take on the implications of the news.
ISIS: Dialed Back or No Dial Tone?
Next to the content of bin Laden’s hard drive, what I’d most like to see today are the PowerPoint decks that led AT&T and Verizon to actually think they could start a mobile payments network. My guess is that between the two companies and their management consultants the following questions weren’t addressed or were glossed over as not being that important to pay attention to:
Federal Reserve Board’s Proposal Overlooks Consumer Interests
Section 1075 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law on July 21, 2010, instructs the Federal Reserve Board to write specific rules governing debit card payments. On December 16, 2010, the Board issued its proposed interpretation of the legislative language of Section 1075-known in the payment industry as the Durbin Amendment, which includes two proposed alternative interchange fees standards. One of the alternatives contains an issuer-specific standard with a safe harbor (of 7 cents per transaction) and a cap (of 12 cents per transaction), and the other simply provides the 12 cent per transaction cap. At this time, the Board's proposed Regulation II fails to allow for a fraud adjustment. While the Board is likely to allow an upward adjustment of interchange fees to account for fraud-prevention costs, this rule reportedly will not be finalized until after the interchange fee standards are set. The current proposal also includes two alternatives routing requirements, one that requires merchants be allowed no less than two unaffiliated networks overall and one that requires merchants be allowed no less than two unaffiliated networks per type of debit transaction (signature or PIN).
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for pymnts
- @CFPB Has Just a Few Questions About #Prepaid http://t.co/549LMBni 1 hour ago
- @PayPal is Most Popular Online #Gateway, But… http://t.co/F2JsCc1O 2 hours ago
- @MagTek CEO, Mimi #Hart: With #Swipe Readers, #Encryption Is "Not Enough" http://t.co/DXenBrWJ 2 hours ago
- @jumio Offers Camera-Powered #Credit #Card Scanning SDK to #Developers http://t.co/4Dmw42sP 3 days ago
- An Off-the-Radar, $42 Billion Opportunity http://t.co/RIAFwH7y 3 days ago
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