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- First Security Group Completes Transformation of Executive Management Team
- CBRE Clarion Global Real Estate Income Fund (NYSE: IGR) Declares Monthly Distribution for February
- Wells Fargo Advantage Closed-End Funds Declare Monthly and Quarterly Dividends
- Evans Bancorp Reports 176% Increase in Net Income for the Fourth Quarter of 2011 and Record Results for the Year
- AXIS Capital CEO John Charman to Present at Bank of America Merrill Lynch Insurance Conference 2012
PYMNTS Voice
Commentary » PYMNTS Voice
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?)
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:
What Has a Bigger Head and Longer Tail? Card Issuing
Its head has gotten bigger and the tail longer and skinner. I'm not talking about a scary monster but about the distribution of purchasing volume for the credit and debit card issuers in the United States.
Collateral Damage from the Financial Crisis: Consolidation and Regulation
The decade ended with the start of the most severe financial crisis the world has faced since the Great Depression of the 1930s. In many respects the payments industry was rock solid during the meltdown. The payment systems processed transactions without losing a beat. While consumers faced a real risk that they would find their retirement accounts dry, and not a banker in town would be willing to give them a loan, they had full confidence that they could pay merchants with any tender type that merchant usually took. Pure payments companies such as MasterCard and Visa not surprisingly held their value while most other stocks crashed.
GAO to Congress on Interchange Fee Regulation: Yellow Light
Last week the General Accountability Office (GAO) released it much awaited report on interchange fees. Congress had asked the GAO, the respected investigative arm of Congress, to wade into this battle between merchants and cards systems earlier this year when it passed the CARD Act. There's something for everyone in this report which is why both merchant and cardholder advocates are claiming that it backs their positions. Here's what GAO finds:
PCI Compliance – To Whom Are You Compliant?
A few years ago, in response to a growing number of data security breaches, the major credit card brands formed the Payment Card Industry Security Standards Council (PCI SSC). Since then the PCI SSC has developed a set of security requirements for all businesses that handle payment cards.
How Credit Card Reform Impacts What's Next in Payments
I was recently quoted in a Business Week article on October 29th, "Interchange Fees Make Strange Bedfellows" by Brian Burnsed.
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