7th Annual Mobile Banking and Commerce Summit
June 3-5, 2013
InterContinental Miami, Miami, FL
8th Annual Underbanked Financial Services Forum
June 5-7, 2013
May 22, 2013
Today in Payments
Unresolved issues surrounding American Airlines contract with Citibank, which issues its co-branded frequent flier credit card, threaten to derail the bankrupt airlines efforts to reorganize and merge with US Airways, according to court documents Citi filed on May 24.
Phillips 66 has joined the retailer-driven Merchant Customer Exchange mobile payments and commerce initiative, the Houston-based gas station chain announced May 23. Phillips 66 also operates Conoco stations. The company joins MCX only two weeks after the mobile payment venture added another petroleum provider, Pacific Convenience & Fuels LLC.
Blaze Mobile is developing a new Near Field Communication mobile phone attachment that attempts to build a more open mobile wallet by allowing consumers to choose from a series of payment accounts.
"Consumers want to use multiple accounts and be able to use those accounts at the point of sale," says CEO Michelle Fisher.
IP Commerce Inc., a startup backed by Venrock Inc. and Intel Corp.'s venture-capital arm, is shutting its key business, which handles credit-card processing for companies including Groupon Inc., citing competition.
Youth payments company Virtual Piggy is adding elements of gaming to its product mix via a partnership with JumpStart.
The most challenging and frustrating aspect of the Single Euro Payments Area project, according to a major German acquirer, is its goal of establishing common payment standards throughout Europe.
ZooZ is one several companies building new technology that attempts to improve the integration between marketing and mobile payments.
"The players in the ecosystem haven't figured out how to monetize the banner ads that are inside mobile apps," says Noam Inbar, vice president of product development for ZooZ.
Visa's hiring of former JPMorgan Chase executive Ryan McInerney to be its new president maintains the card network's bond with the top-tier bank.
Target Corp., Macys Inc. and other companies sued Visa Inc. and MasterCard Inc. over credit-card and debit-card fees after retailers objected to a multibillion-dollar settlement of a similar suit.
Square announced expansion into Japan with updated Register features today, after seeing two executives, Alyssa Cutright and Alex Petrov, leave the mobile payments company.
Square's expansion into Japan comes from a partnership with Sumitomo Mitsui Card Corporation, the company responsible for bringing Visa to Japan.
Chase Paymentech Europe, a merchant acquiring and processing subsidiary of JPMorgan Chase, has introduced a new service designed to lighten the security burden for European online merchants.
Visa has hired Ryan McInerney to be its president. McInerney, previously the chief executive of JPMorgan Chase's consumer bank, fills a position left vacant since John Partridge retired in March. Visa also appointed Elizabeth Buse and Bill Sheedy to new roles.
As MoneyGram International sits solidly as the world's second-largest money transfer business, its growth strategy is focused on diversifying its product suite and capturing market share that remains untapped by MoneyGram and rival Western Union.
A Closer Look
Square, PayPal, Groupon and others recently revealed a flurry of new technology at the point of sale, demonstrating just how capable tablets and smartphones are at handling payments and other needs for small merchants.