Wednesday, May 5, 2010

Senator Seeks Interchange Fee Plan in Bank Bill - Reuters

Editor's Note: I find it interesting that there is a big movement for "fairness" when it comes to Interchange. The only "unfairness" I see is that borne by "e-retailers" who who are forced to pay "Card Not Present" and "signature debit" rates when there is a PCI 2.1 PED specifically designed for eCommerce use. They would love to have the same problem that brick and mortar retailers have...namely the ability to pay "Card Present" rates and steer their customers to a more secure (thus lower Interchange Fee) PIN Debit payment method.

(Reuters) - The No. 2 Democrat in the U.S. Senate said on Wednesday he will push to amend a massive Wall Street reform bill with a measure addressing credit card fees affecting retailers.

So-called "interchange" fees are charged to supermarkets, convenience stores and other merchants by firms such as Visa and MasterCard every time a customer uses a credit card. Fees totaled $48 billion in 2008, up from $42 billion in 2007. "We're going to have a bill that addresses the interchange fee and try to bring some fairness to it," Senator Richard Durbin said in remarks on the Senate floor. "This is one of the major concerns of retailers and businesses.

Continue Reading at Reuters

Senator Seeks Interchange Fee Plan in Bank Bill - Reuters

So-called "interchange" fees are charged to supermarkets, convenience stores and other merchants by firms such as Visa and MasterCard every time a customer uses a credit card. Fees totaled $48 billion in 2008, up from $42 billion in 2007. "We're going to have a bill that addresses the interchange fee and try to bring some fairness to it," Senator Richard Durbin said in remarks on the Senate floor. "This is one of the major concerns of retailers and businesses.

Continue Reading at Reuters

Visa Press Release Taken Down

Here's the press release that appeared this morning but now has disappeared. I already had it in the queue.

Visa Inc. and DeviceFidelity, Inc. are working to allow Apple iPhone(TM) users to make payments by simply waving their iPhone in front of a contactless payment terminal. The new technology, developed by DeviceFidelity and certified by Apple, combines a protectiveiPhone case with a secure memory card that hosts Visa's contactless payment application, called Visa payWave. The technology will work for both iPhone 3GS and iPhone 3G devices.

iPhone users will be able to make Visa mobilepayments in retail stores, at fast food restaurants, in taxis, during sporting events (such as at baseball games), and also make purchases at vending machines that have contactless payment terminals. Thousands of merchants throughout the U.S. have already upgraded their payment terminals to allow consumers to make Visa mobile payments. The technology will also work with a majority of smart phones that have a slot for a memory card. By simply inserting the card into the memory slot on their phone, mobile users can transform their existing mobile phones into a Visa payment device. Visa has already rolled out a similar technology in Malaysia and Japan, where consumers can make mobile payments in stores and restaurants.

The mobile payment application can be password protected and utilizes advanced security technology to uniquely identify each contactless transaction.. In addition, all Visa mobilepayments are backed by Visa's global processing network and analyzed for potential fraud in real-time. If a mobile device is lost or stolen, account holders should contact their issuer, as they would if their card was lost or stolen. The issuer can immediately deactivate the account. Market trials of the payment-enabled iPhone are scheduled to start this summer. SATELLITE FEEDS: Wednesday, May 5th, 2010 Thursday, May 6th, 2010 1:00 PM - 1:15 PM ET 1:00 PM - 1:15 PM ET AMC 3 AMC 3 C-Band C-Band Transponder 3 Transponder 3 Downlink Freq. 3760 Horizontal Downlink Freq. 3760 Horizontal NEWS: Use Your iPhone to make Visa payments FORMAT: B-roll and Soundbites

ADDITIONAL RESOURCES: Video, contact information and more available at:http://multivu.prnewswire.com/broadcast/43490/press.html SOUNDBITES: * Dave Wentker, Head of Mobile Contactless Payments at Visa Inc * Amitaabh Malhotra, COO of DeviceFidelity. * Kevin Scott, Father of three B-ROLL INCLUDES: * Chip and Memory Slot on iPhone * Visa-iPhone Transactions * Stadium shots * Family broll * Various Store Exteriors

VIDEO PROVIDED BY: Visa and DeviceFidelity

Contact: FOR MORE INFORMATION, PLEASE CALL: MultiVu Media Relations, 1-800-653-5313 EXT. 3

SOURCE Visa and DeviceFidelity

Copyright 2010 PR Newswire

Visa Press Release Taken Down

Facebook Site Flaw Exposes User Data

Ryan Naraine and Dancho Danche report for ZDNet that Facebook's latest problem with security "hit a new gear today..."

Facebook site flaw exposes live chat sessions, user data

The problems with security and privacy on Facebook hit a new gear today with news that a site vulnerability exposed live chat sessions and other private user data.

READ FULL STORY

Facebook Site Flaw Exposes User Data

Ryan Naraine and Dancho Danche report for ZDNet that Facebook's latest problem with security "hit a new gear today..."

Facebook site flaw exposes live chat sessions, user data

The problems with security and privacy on Facebook hit a new gear today with news that a site vulnerability exposed live chat sessions and other private user data.

READ FULL STORY

Ingenico acquires Payzone France, a Leading Prepaid Operator

NEUILLY SUR SEINE, FRANCE--(Marketwire - May 5, 2010) - Ingenico acquires Payzone France, a leading prepaid operator

Neuilly sur Seine - May 5 2010. Ingenico (Euronext : FR0000125346 - ING), the leading worldwide provider of payment solutions, , today announces that it has completed the acquisition of Payzone France from an investment company based in Luxemburg. The terms of the transaction were not disclosed.

Founded in 2001, Payzone France is based in Colombelles and Paris, France. It manages a unique retailer base of 17.000 point of sales (including more than 6.500 terminals) and is a mobile topup distributor for all French Mobile Network Operators. Through its platform, it is able to offer mobile topup as well as a number of other value added services such as money transfer or music download.

Philippe Lazare, CEO Ingenico, commented: "This transaction demonstrates our willingness to develop our beyond-payment transaction processing business though a comprehensive value added service offering for merchants. It brings Ingenico a unique distribution network across the large French retailers. We have already identified a number of existing cross-selling opportunities with our existing service portfolio."

About Ingenico (Euronext: FR0000125346 - ING)

Ingenico is a leading provider of payment solutions, with over 15 million terminals deployed in more than 125 countries. Its 2,800 employees worldwide support retailers, banks and service providers to optimize and secure their electronic payments solutions, develop their offer of services and increase their point of sales revenue. More information on www.ingenico.com.

This information is provided by HUGIN

INGENICO - Investor Relations

Catherine Blanchet

Investor Relations Director

Email Contact

+33 1.46.25.82.20

INGENICO - Corporate Communication

Remi Calvet

Email Contact

+33 1.46.25.78.23

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Ingenico acquires Payzone France, a Leading Prepaid Operator

BofA, Citibank Top Forrester’s US Online Banking Rankings

One thing that I noticed is that US banks scored an average of 69 on the issue of Trust. Last time I checked, scoring a 69 on a test results in an "F"

Want to improve your online banking ranking? Call us. We can help by providing a proven True two factor authentication which replicates the same trusted process utilized to dispense cash from an ATM. Swipe your Card, Enter your PIN. It's not rocket science, but it works. And you'll see dramatic improvements in your customer's trust levels. Here's an article from Seeking Alpha written by Research Recap.

US banks on average scored 63 out of 100 on Forrester Research’s latest annual public website ranking, a score that was well above the Canadian bank average of 49.3.

Overall, Forrester found that:

Bank of America (BAC) and Citibank (C) are tops in the US. Bank of America and Citibank tied for the top spot in the 2010 bank ranking, both scoring a 70. In areas like navigation, trust, value, and online applications, these two banking leaders set the standard for the banks that we reviewed

Online applications are strengths for most US banks. US banks as a whole excel at delivering compelling online checking account applications. On average, US banks scored 68 in this category, with Citibank barely beating out Wells Fargo (WFC) with a best-practice score of 75.

Web site presentation is an area to improve on for many sites. Page layout and other presentation-level elements are the biggest downfall for US banks. Across the board, US banks score poorly on aspects like text legibility and space usage. In fact, Wells Fargo was the only US bank with only minor text legibility problems.

RBC is tops in Canada. RBC took the top spot in the 2010 Canadian bank ranking, scoring a 66. In areas like trust, research content and functionality, as well as online application content and functionality, RBC sets the standard for the banks that we reviewed in Canada

US bank Web sites are some of the better ones in the banking industry on average.

for details see:

2010 US Bank Public Web Site Rankings

Web Site User Experience 2010: US Banks

2010 Canadian Bank Public Web Site Rankings

Web Site User Experience 2010: Canadian Banks

About the author: Research Recap

ResearchRecap (http://www.researchrecap.com/) is a service provided by Alacra (http://www.alacra.com/). Research Recap (http://www.researchrecap.com/) is designed to showcase compelling industry, economic, academic, market, investment and credit research. The audience includes the investment... More

Blog: researchrecap.com

BofA, Citibank Top Forrester’s US Online Banking Rankings

Overall, Forrester found that:

Bank of America (BAC) and Citibank (C) are tops in the US. Bank of America and Citibank tied for the top spot in the 2010 bank ranking, both scoring a 70. In areas like navigation, trust, value, and online applications, these two banking leaders set the standard for the banks that we reviewed

Online applications are strengths for most US banks. US banks as a whole excel at delivering compelling online checking account applications. On average, US banks scored 68 in this category, with Citibank barely beating out Wells Fargo (WFC) with a best-practice score of 75.

Web site presentation is an area to improve on for many sites. Page layout and other presentation-level elements are the biggest downfall for US banks. Across the board, US banks score poorly on aspects like text legibility and space usage. In fact, Wells Fargo was the only US bank with only minor text legibility problems.

RBC is tops in Canada. RBC took the top spot in the 2010 Canadian bank ranking, scoring a 66. In areas like trust, research content and functionality, as well as online application content and functionality, RBC sets the standard for the banks that we reviewed in Canada

US bank Web sites are some of the better ones in the banking industry on average.

for details see:

2010 US Bank Public Web Site Rankings

Web Site User Experience 2010: US Banks

2010 Canadian Bank Public Web Site Rankings

Web Site User Experience 2010: Canadian Banks

About the author: Research Recap

Blog: researchrecap.com

Small Businesses Slow Decrease In Year-Over-Year Same Store Credit and Debit Card Sales

NEW YORK, May 5 /PRNewswire/ -- Capital Access Network, Inc.'s (CAN) Data Services Division released its Q1 2010 Small Business Credit Sales Report (SBCS Report). The report shows that Main Street brick and mortar retailers and restaurants started off 2010 with year-over-year same store card sales declines, continuing a downward sales trend that began for restaurants in Q3 2008 and for retailers in Q2 2007. However, the report shows that both the restaurant and retail sectors slowed the rate of year-over-year card sales decline in Q1 2010, with decreases in card sales of 6.31% and 11.67%, respectively, from Q1 2009 levels. This represents the second quarter that year-over-year credit sales declines have slowed.

"The data indicates a slowing in year-over-year card sales declines for the past two quarters. These figures are consistent with recent Federal Reserve Statistical Releases showing U.S. consumer revolving credit levels contracting," said Glenn Goldman, CAN's President and CEO.

Key Q1 2010 SBCS Report Highlights

1.	In Q1 2010, same store credit and signature debit card sales posted their tenth consecutive quarter of year-over-year declines. Q1 2010 card sales dropped 9.16% from Q1 2009 levels. The Q1 2010 figures seem to be consistent with the Federal Reserve's Statistical Releases, G.19, Consumer Credit, published on April 7, 2010 and March 5, 2010, which showed revolving consumer credit in the U.S. contracting at 13.1% and 2.25%, respectively.
		SPOTLIGHT: Within the Q1 2010 data, the monthly figures show a year-over-year accelerating positive trend. January 2010 showed a 12.42% decline in card sales from January 2009. February 2010 showed a 10.90% decline from the February 2009 levels. In March of 2010, the card sales decline slowed to 4.83% from March 2009. The strongest performing segment in the data was Restaurants with average tickets of less than $25. In that category, March 2010 was essentially flat to March 2009, showing only a 0.51% decline.

2.	During the 2010 Valentine's Day period, defined as February 12–16, restaurants showed a year-over-year card sales decline of only 2.90%, compared to the entire month of February 2010, which experienced a decline of 6.34% versus February 2009.

3.	While all MSAs* have experienced declining same store credit sales, smaller cities entered the Great Recession later and seem to be emerging faster compared to more populous MSAs. Comparing Q1 2010 with Q1 2009, those areas with populations of less than 100,000 and those with populations between 100,000 and 249,999 reported declines of 4.54% and 6.94%, respectively. MSAs with larger populations (those between 249,999 and 999,999 and those with populations of 1 million+) reported greater year-over-year card sales declines than the smaller MSAs, posting 9.97% and 9.91% decreases, respectively.

4.	Both the Restaurant and Retail (which includes service providers) sectors slowed the rate of year-over-year decline in Q1 2010, with decreases in credit sales of 6.31% and 11.67%, respectively, from Q1 2009 levels. In Q4 2009 compared to Q4 2008, those categories reported declines of 8.67% and 15.16%, respectively.
		SPOTLIGHT: Restaurants with average tickets greater than $100 continue to perform worse than less expensive restaurants. Restaurants with average tickets less than $25 performed the best, with a Q1 2010 year-over-year decline of only 2.69% in card sales. Among $100+ average ticket restaurants, Q1 2010 versus Q1 2009 card sales declined the most, 12.61%, deteriorating further from the 7.65% decline posted in Q4 2009 versus Q4 2008 levels.

5.	In Q1 2010, most regions continued to show a year-over-year quarterly decline in same store credit sales, posting card sales declines ranging between 5.86% and 14.60% in Q1 2010 versus Q1 2009. All regions slowed their rates of decline in Q1 2010 versus Q1 2009 as compared to the Q4 2009 versus Q4 2008 rates – except for the Plains Region. That region experienced an 8.59% decrease in the Q1 comparison period after posting a 2.43% decrease from Q4 2009 compared to Q4 2008.

*Metropolitan and Micropolitan Statistical Areas as defined by the Office of Management and Budget based on U.S. Census Bureau data.

About the CAN Small Business Credit Sales Report

The Small Business Credit Sales (SBCS) Report is a quarterly report highlighting credit and debit card sales trends within small to mid-sized businesses nationwide. Sponsored by the Data Services Division of Capital Access Network, Inc. (CAN), aNew York-based financial technology company, the SBCS Report features analysis of credit and debit card sales trends based on same store card sales data housed in CAN's data warehouses, which retain 12 years of data and include more than 50,000 businesses. Most same store sales retail reports focus on or include data from big-box retail and nationwide/regional department stores, either ignoring or obscuring the trends of the majority of small and mid-sized businesses. The SBCS Report was designed to assist business owners, the processing industry, associations, analysts and media interested in tracking and benchmarking credit and debit card sales trends among small and mid-sized businesses. CAN's Data Services Division was formed to provide predictive analytics, scoring, outsourcing services and other risk management tools to help quantify, control or reduce the exposure of those providing capital or credit to small and mid-sized businesses and to improve the marketing efficiencies of those who target such businesses. Data published may include:

Average Same Store Credit Sales - Overall

Average Same Store Credit Sales - by Population Size

Average Same Store Credit Sales - by Industry and Ticket Size

Average Same Store Credit Sales - by Geographic Region

Total Processing Distribution - by Geographic Region

To receive the quarterly reports automatically via email, interested parties can sign up atwww.CapitalAccessNetwork.com/Resources, or simply send an email to dnaczi@capitalaccessnetwork.com.

About Capital Access Network, Inc.

Capital Access Network, Inc. (CAN) serves the small business market through its wholly owned subsidiaries, including AdvanceMe, Inc., the leader in Merchant Cash Advances. CAN leverages leading edge data, systems and technology, married to a unique and highly effective collection methodology, to deliver innovative financial products and services geared to the small and mid-sized business markets. Founded in 1998 and headquartered in New York, CAN and its subsidiaries currently employ 300 people in four locations in New York, Georgia, Massachusetts and Costa Rica. CAN's Data Services Division was formed to provide predictive analytics, scoring and other risk management tools to help quantify, control or reduce the exposure of those providing capital or credit to small and mid-sized businesses and to improve the marketing efficiencies of those who target such businesses. CAN's Data Services Division draws upon the data gathered by CAN's subsidiaries through 12 years of collecting and analyzing the sales trends and firmographics of tens of thousands of businesses to which they have provided capital or purchased future credit card receivables. Learn more at www.CapitalAccessNetwork.com.

SOURCE Capital Access Network, Inc.

Wednesday, May 5, 2010

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