Tuesday, November 9, 2010

First Data Releases October 2010 SpendTrend

Image representing First Data Corp as depicted...Image via CrunchBase
Card Spending Growth Slowed Slightly on Tougher Year-Over-Year Comparables
ATLANTA, Nov. 9, 2010 – First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend™ analysis for the full month of October 2010 compared to October 2009. SpendTrend tracks same-store consumer spending via credit, signature debit, PIN debit and EBT cards at U.S. merchant locations.
October’s same-store dollar volume growth was 6.7% and transaction growth was 8.6%. Despite continued discounting of prices, consumers remained concerned about the economy and high levels of unemployment.  October 2009 marked the beginning of the recovery last year. In October 2010, the comparisons to 2009 became more difficult.
Overall average tickets were down -1.7%, representing the fifth consecutive month of negative average ticket growth and the lowest since November 2009. In October, the absolute average ticket value was lower compared to the prior month. Most major merchant categories contributed to the overall decline.
Transaction growth across all major payment types slowed from September as consumers were focused on the elections. October marked the third month in a row of slower year-over-year PIN debit transaction growth.  One possible factor that contributed to the slower growth of PIN debit was the implementation of Regulation E, which requires banks to decline debit transactions at the point of sale for customers who have not opted in for overdraft protection..

October Card Based Transactions               CHANGE         
                              Credit                                  +2.5%
                              Signature Debit                 +13.8%
                              PIN Debit                           +6.9%              
                              Total Transactions            +8.6%                                       
Note: All transactions are same-store growth.                           
For more information on First Data SpendTrend, visit www.firstdata.com/infoanalytics or call SpendTrend Customer Care at 800-430-0169. A supplementary podcast including further analysis of the SpendTrend October 2010 report is available athttp://www.firstdata.com/demos/spendtrend/SpendTrend_Oct2010.wmv.

Enhanced by Zemanta

Acculynk: Creating a Customized Consumer Checkout

Ashish Bahl
Name: Ashish Bahl
Title: CEO

What I’m working on now...Establishing PaySecure as the industry standard for Internet PIN debit – worldwide
My crowning achievement is...Bringing PIN debit to the Internet with an easy to use, easy to implement software-only service
Industry Association Awards...2005 AEA Entrepreneur of the Year, 2005 Deloitte Fast 50 winner, 2006 Eagles Innovation Award winner
Education…B.S. in Mathematics and Electrical Engineering, Vanderbilt University, MBA, Carnegie Mellon University
When I’m not working, I like to…Spend time with my family, adventure travel and collect wine
My favorite payment factor is…Innovation in alternative payments, mobile payments and of course, my debit card
I think the next big thing in payments is…Competitors to the classic card associations that take advantage of other processing networks: Twitter, Facebook, mobile and Internet PIN debit
Cash is…Cool if you’re a collector of coins
Checks are…Something that should be banned from the retail environment, especially grocery stores
NFC will…Take a long time to develop due to the significant costs to change the infrastructure
EMV will…Create a lot more fraud on the Internet, which Acculynk is in a position to combat
P2P is…An exciting business. The next wave of growth will be finding a mobile system that is scalable and addresses usability and security concerns
I’ve learned from my mentor…In payments, nothing happens overnight. Patience is key – and building a quality system that consumers will use
Bio: Ashish Bahl, Chairman and CEO of Acculynk, is head of the only company in the U.S. to offer a software-only service for PIN debit payments on the Internet, PaySecure®. Founded in 2008, Acculynk offers consumers the convenience and security of using their PIN debit card online, with no enrollment or redirection from the merchant website. To date, Acculynk has partnerships with 8 EFT networks to process PaySecure transactions, over 1,500 financial institutions enabled and 1,000+ unique merchant websites.
Ashish is a payments industry veteran. In 2000, he founded Harbor Payments, a recognized global leader in the electronic invoicing industry. Ashish served as the CEO of Harbor until 2006, when the company was sold to American Express. Previous to Harbor, he also founded Exchange Place Solutions (EXPS), later sold to iXL.
As the only provider of a software-only service for Internet PIN debit, Acculynk is uniquely positioned to leverage the worldwide debit growth to reduce fees and fraud on electronic transactions. PaySecure is currently available in the U.S. but international introduction is slated for 2010. The product also has applicability in kiosks, mobile, P2P payments, and online banking and credit card authentication.
Ashish holds a holds a B.S. in Mathematics and Electrical Engineering from Vanderbilt University and an MBA from Carnegie Mellon University.
Visit http://acculynk.com/payFirst/payFirst.html to see a video of a PaySecure transactio
Enhanced by Zemanta

Visa Under Fire for Routing Debit Transactions through the Visa Network Instead of Interac in Canada

Visa Under Fire for New Debit Card  

Some purchases made in Canadian stores with Visa-branded debit cards were routed over the Visa network instead of Interac, a breach of policy and a move that has cost retailers unexpected interchange fees.

TORONTO – A Visa-branded debit card issued by Canadian Imperial Bank of Commerce (CIBC) is operating in violation of Canada's voluntary code of conduct for the payments industry, the Toronto Star reports.
The breach occurred as some purchases made in Canadian stores with the cards were routed over the Visa network instead of Interac, a breach of the country's code of conduct. 
Visa acknowledged that some merchants, including Walmart, Williams-Sonoma, The Gap, Banana Republic, Starbucks, and Old Navy, have been charged incorrect transaction fees, though they said that the overcharge amounts to only a few hundred dollars. However, the breach occurs just two weeks after the first Visa-branded debit card hit the Canadian market. As such, Finance Minister Jim Flaherty has threatened to impose binding regulation.

Enhanced by Zemanta

Introducing the Lydian Journal from PYMNTS.com

Issue No. 1November 2010
In This Issue:
From the Editor
David Evans on Why Payments Is One of the World’s Most Important Industries
Tim Attinger on the Keys to Growing a Payments Network
Developing Countries and Mobile Payments
Ignacio Mas on Mobile Phones Transforming Access to Finance
Economics and Consumer Studies
Scott Schuh on How Credit Cards Redistribute Wealth
Law and Regulation
Tom Brown on the Antitrust Division’s Case against American Express
Social Commerce
Karen Webster on Turning Fans into Customers on Social Networks
Patrick Gauthier on the Year of the APIs
Payments Wiki
Jing Yang on China’s Payments Ecosystem

Lydian Journal on PYMNTS
About Lydian Journal
The Lydian Journal from PYMNTS.com publishes articles from thought leaders on one of the most important industries in the world. It’s an industry that makes trade, the source of almost all economic prosperity, possible. That will seem like an outrageous claim to some people. Making and receiving payments is so routine and trivial that most take it for granted. But flash back three millennia to the days when a lot of effort went into buying a chicken. Our ancestors had to figure out what they could offer the chicken owner in trade. Maybe a shirt or a clay pot, or as trading became more sophisticated, a slug of some precious metal.

If you are a payments professional or a policymaker concerned with this critical industry, the Lydian Journal is the place to come for cutting-edge knowledge and commentary produced by the best thinkers from around the globe. If you are one of these thinkers, this a common place for you to present your analysis and exchange ideas with other experts from diverse disciplines and geographies who are also interested in payments, as well as to make you and your work known to the broader payments community.
Read More

Payments Industry Experts Share Ground-Breaking Insights in New Lydian Journal from PYMNTS.com

E-Journal Features Thought-Provoking Analysis on Payments Innovation
BOSTON--(BUSINESS WIRE)--PYMNTS.com, the B2B marketing portal that captures “what’s next” in the payments sector, today announced the launch of the Lydian Journal to bring the industry cutting-edge commentary from the world’s top financial thinkers.
A free publication available exclusively on PYMNTS.com, the Lydian Journal covers several topic areas key to the payments industry, including developments in technology, regulation, business practices, and social commerce.
“Our vision from the start was to create the best publication in the world for people to consume and contribute innovative analysis on what’s next in payments. We have spent the last year, since the initial launch of PYMNTS.com, on innovations to achieve that. We have recruited several of the leading thinkers and doers on payments in the world to serve as our section editors,” said David S. Evans, Editor-in-Chief of the Lydian Journal and founder of Market Platform Dynamics, a consultancy that helps companies identify, ignite, and monetize innovation.
Section editors include:
  • Business: Tim Attinger, former Global Head of Product Innovation at Visa and now Managing Director of Market Platform Dynamics
  • Developing Countries and Mobile Payments: Ignacio Mas, Deputy Director in the Financial Services for the Poor program at the Bill & Melinda Gates Foundation
  • Economics and Consumer Studies: Scott Schuh, Director of the Consumer Payments Research Center and Senior Economist at the Federal Reserve Bank of Boston
  • Law and Regulation: Tom Brown, partner at O'Melveny & Myers specializing in competition law and legal issues affecting the financial services industry
  • Social Commerce: Karen Webster, CEO of Market Platform Dynamics
  • Technology: Patrick Gauthier, Head of Market Intelligence at PayPal
The Lydian Journal also publishes provocative white papers from leading payments organizations and in-depth profiles of payments sectors in countries around the world.
For more information and to read the latest edition of the Lydian Journal, visit: http://www.pymnts.com/journal/.
About PYMNTS.com:
PYMNTS.com (www.pymnts.com) is an online media channel that captures user-generated and expert-driven commentary, information, news, and analysis on “what’s next” in the payments sector, worldwide. The site provides a platform for industry professionals to share content related to their latest company and product developments, to tap into the collective commentary and analysis from experts, bloggers, and industry pundits, and to interact with industry thought leaders and other influentials on topics of critical importance to the future of the sector. A joint venture of Business Wire, a Berkshire Hathaway Company, and Market Platform Dynamics, PYMNTS.com redefines the ways in which B2B news and information is both generated and distributed.
For information on the editorial calendar for upcoming topics being featured on PYMNTS.com, please contact Site Producer Justin Unger at junger@marketplatforms.com.
You can also subscribe to receive the daily PYMNTS.com newsletter at subscribe@PYMNTS.com. Follow us on TwitterLinkedIn, or Facebook.
About Market Platform Dynamics (MPD):
Market Platform Dynamics helps companies find, develop, and monetize innovation. We do this by leveraging the experts, expertise, and ecosystem that we have assembled over several decades of working with the most innovative platforms in the payments, mobile, technology, online, and digital media sectors, worldwide. This work is guided by MPD’s Innovation Platform® - a set of proven tools and rigorous frameworks that create ignition strategies that drive growth and profit.
MPD works with both incumbents and new entrants, offering a unique lens into the dynamics that shape the competitive playing field. In addition to traditional consulting-based services, MPD’s Catalyst Ventures provides intellectual and human capital to new firms. MPD’s experts include economists, econometricians, product development specialists, and strategic marketers who apply cutting-edge business theory and statistical methods to the practical problems of building and growing a profitable catalyst business. MPD is headquartered in Cambridge, MA, and has offices in London and Hong Kong.
For more information, visit www.marketplatforms.com.
About Business Wire:
Business Wire, a Berkshire Hathaway company, is utilized by tens of thousands of member companies and organizations worldwide to functionally enhance and communicate investor relations and public relations content to target audiences. As a recognized disclosure service in the United States, Canada, and a dozen European countries, Business Wire facilitates the simultaneous flow of market-moving press releases from corporations to financial markets and their audiences, including regulatory authorities, media, investors, financial information systems, and consumer news services. Business Wire also handles XBRL tagging, document formatting, and regulatory filing into EDGAR, SEDAR, FSA, and other systems.
Founded in 1961, Business Wire has dual headquarters in San Francisco and New York, with 30 bureaus in cities, including Los Angeles, Chicago, Boston, Miami, Paris, Frankfurt, London, Brussels, Tokyo, Toronto and Sydney, and reciprocal offices throughout the world. Business Wire's patented NX data platform supports XML, XHTML, and XBRL code that enhances news release interactivity, social media sharing, and search engine optimization. More information about Business Wire and its services is located on its website at www.BusinessWire.com.


For PYMNTS.com
Jenn Rubin, 617-374-1337
Permalink: http://www.businesswire.com/news/home/20101109005228/en/Payments-Industry-Experts-Share-Ground-Breaking-Insights-Lydian

Enhanced by Zemanta

Enterprise Billpay from Elavon Provides a Single-Source for Bill Payment and Merchant Services

ATLANTA--(BUSINESS WIRE)--Elavon, a leading global payments provider and wholly-owned subsidiary of U.S. Bancorp (NYSE: USB) today announced the release of its Enterprise Billing Solution (EBS) that delivers an efficient, end-to-end solution to businesses seeking a single source provider for both electronic bill presentment and payment (EBPP) and merchant card processing services.
“We strive to deliver advanced processing and reporting solutions that deliver enterprise-wide efficiencies and improved service to our customers”
With Elavon’s biller direct Enterprise Billing Solution, businesses can increase consumer receivables, decrease costs, and benefit from the flexibility to accept credit, debit and ACH payments. The solution also extends the ability to manage the rules of payment acceptance, such as convenience and service fee scenarios, control the brand, manage data quality and provide an environmentally-friendly payments process for their customers. And because it’s from Elavon, businesses have one source for acceptance, processing, funding and service, eliminating the complexities of dealing with separate merchant processing and bill payment providers.
“We strive to deliver advanced processing and reporting solutions that deliver enterprise-wide efficiencies and improved service to our customers,” said Mike Passilla, president & CEO of Elavon. “In today’s marketplace, it is essential to consider how control of payment solutions lower the total cost of card acceptance and markedly enhance our customers’ bottom lines.”
Carl Sampson, Director of Systems with the City of Los Angeles agrees. “Elavon’s Enterprise Billing Solution has greatly reduced the transactional costs associated with providing credit card payment options to taxpayers. The volume of paper invoices has been reduced, and the reconciliation process for payments has been simplified,” he said. “And, because we now support online billing, customer satisfaction levels have increased."
EBS from Elavon provides a next-generation, enterprise capable Electronic Bill Payment and Presentment solution that reduces the need for billers to maintain multiple relationships to handle card acceptance and bill payments, while greatly simplifying reconciliation. The solution is protected within a PCI-, SAS70- and HIPAA-compliant framework to meet a host of stringent data security standards, and supports multiple forms of customer payment methods, including credit, PIN-less debit and ACH.
About Elavon (www.elavon.com): Elavon’s Global Acquiring Solutions organization is a part of U.S. Bancorp (NYSE: USB) and provides end-to-end payment processing services to more than one million merchants in the United States, Europe, Canada, Mexico and Puerto Rico. Solutions include credit and debit card processing, electronic check services, gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring. Elavon markets products and solutions through multiple alliance partner channels including financial institutions, trade associations and ISOs and meet the needs of merchants in specialized markets including small business, retail, hospitality/T&E, health care, education and the public sector.


Elavon Media Relations
Holly Lytle, +1-678-731-5236
U.S. Bank Media Relations
Teri Charest, +1-612-303-0732
Permalink: http://www.businesswire.com/news/home/20101109005460/en/Enterprise-Billpay-Elavon-Single-Source-Bill-Payment-Merchant

Enhanced by Zemanta

Bling Nation Taps Merchant360 to Support Rapid Growth

Image representing Bling Nation as depicted in...Image via CrunchBase

Merchant360 delivers VeriFone Vx810 Contactless Application, Merchant Help Desk, and Micros Integration for Bling Nation

MEDFORD, Ore.Nov. 9, 2010 /PRNewswire/ -- Merchant360, Inc. announced today an agreement to support the rapid growth of Bling Nation's mobile technology platform that enables unique tap-and-connect capabilities at checkout, providing businesses with rich social media connectivity, powerful viral loyalty programs with actionable analytics, and cost-effective mobile payments. The Bling Nation platform closes the loop between the online and offline customer experience at checkout to let businesses tap into the power of social networking to grow their customer base.
Merchant360 will support Bling Nation with a broad range of services including the VeriFone Vx810 Duet contactless application, Micros integration with NFC/contactless reader enabled by OneInterface™ from Global Blue A.B., and integration with Merchant360's Mobitranz gateway for switching transactions. Merchant360's Integration of the OneInterface solution provides Bling Nation businesses with a growing number of checkout options including RetailPRO, and Cegid. In addition, Merchant360 will deploy, install and provide help desk support for Bling Nation's BlingBox starter kit.
"Bling Nation's focused strategy, clear business model and passion for the right fit solution are what make them a leader in the race to capture mobile payments and CRM," said Steve McRae, Merchant360's founder and CEO. "We are excited to be a part of their growth strategy."
"We selected M360 because of their vast experience and advanced capabilities to integrate mobile contactless with point of sale systems," said Meyer Malka, founder and co-CEO of Bling Nation. "At checkout, consumers can not only pay for purchases with their mobile phone, but they can automatically check-in, redeem rewards and share with friends through their social network. As we move to expand our capabilities into new areas across the country, Merchant360 will help us to expand quickly to a variety of merchants seamlessly."  
With Bling Nation, businesses can engage with customers, acquire Facebook fans and reward them at checkout and support mobile payments. By tapping Bling Nation's proprietary BlingTag® microchip, which can be attached to the back of mobile phones, at checkout, consumers can opt-in to "like" a business, post select rewards to their Facebook page, and redeem discounts and promotions targeted toward them.
About Merchant360
Merchant360, Inc. is an integration and delivery leader in Point of Sale (POS) payment, loyalty, and ticketing solutions. Merchant360 specializes in mobile contactless and Near Field Communications (NFC) solutions including POS integration, active smart posters, transaction switching, 24/7 first line help desk and product deployment. Visit http://www.Merchant360.netor follow us at http://www.twitter.com/mobifyer  
About Bling Nation
Bling Nation is a mobile platform that enables unique tap-and-connect capabilities at checkout to provide businesses with rich social media connectivity, powerful viral loyalty programs with actionable analytics, and cost-effective mobile payments. Bling Nation helps businesses turn their best customers into Fans by inviting them to tap to earn and redeem rewards instantly at checkout and share them automatically with friends on Facebook. For additional information, visit http://www.blingnation.com or follow us at http://www.twitter.com/blingnation. Join the tap-and-connect world of Bling Nation!

Enhanced by Zemanta

Disqus for ePayment News