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Upcoming Conferences

22nd Annual Card Forum & Expo
May 16-18, 2010
Hyatt Regency Grand Cypress, Orlando, FL

Mobile Banking and Emerging Applications Summit
June 6-8, 2010
M Resort | Las Vegas, NV

18th Annual Financial Services Collections & Credit Risk Conference
October 24-26, 2010
The Wynn, Las Vegas, NV

Today in Payments

  • Discover Reports $104 Million Q1 Net Loss

    PaymentsSource | March 17

    Discover Financial Services is reporting a net loss of $104 million for the fiscal first quarter ended Feb. 28.; the company reported net income of $120 million for the same period a year ago that included approximately $297 million in after-tax income from antitrust settlements with Visa Inc. and MasterCard Worldwide.

  • PayPal Looks for an iPhone 'Bump'

    American Banker | March 17

    PayPal Inc.'s new iPhone application is more than a payment system — the company is also trying to make it easier for people to use the app as a cash replacement. [FREE]

  • Ent Federal Credit Union Adds iPhone ATM Locator

    Credit Union Journal | March 17

    COLORADO SPRINGS, Colo. – Ent FCU has launched its first free iPhone application, an Ent Service Center and ATM Location Finder, on iTunes.

  • Discover Inks Global Payments Deal, Further Expanding Acceptance In Europe And Asia

    PaymentsSource | March 16

    The merchant-acquiring deal Discover Financial Services struck this week with Global Payments Inc. to expand acceptance for its Discover and Diners Club cards in Europe and Asia caps a string of similar deals the company has inked over the past year.

  • RegaloCard Changes Its Mobile Funds-Transfer Process

    PaymentsSource | March 16

    RegaloCard, a fledging mobile-payments company that soon plans a nationwide rollout in the United States, has changed how consumers send funds transfers using its free product. [FREE]

  • First Data Taps MicroSD Cards As Next Contactless Step

    PaymentsSource | March 16

    First Data Corp. plans to use technology embedded into a digital memory card as the next step in evolving the payment processor’s contactless-payment technology.

  • UK Government, Card Association Issue New Credit Cardholder ‘Rights’

    PaymentsSource | March 16

    In collaboration with the United Kingdom Department for Business, Innovation and Skills, the UK Card Association recently announced new “rights” for UK credit cardholders.

  • Co-op Intends To Buy Share System Debit-Processing Service

    PaymentsSource | March 16

    Co-op Financial Services on March 15 signed a nonbinding letter of intent to purchase the Share System debit and ATM processing network from Members United Corporate Federal Credit Union. Terms were not disclosed.

  • Toyama Railway Launches Contactless Card

    PaymentsSource | March 16

    In Japan, Toyama Chihou Tetsudou Inc. on March 14 began issuing a contactless card called Ecomyca that transit riders may use to access all Toyama tram and rail lines. [FREE]

  • Portfolio Recovery Associates Acquires Pennsylvania Company

    Collections & Credit Risk | March 15

    The sixth-largest U.S. debt buyer's acquisition will allow it to expand into a new recovery market. [FREE]

  • AmEx CEO's Received $17.4 Million In 2009

    PaymentsSource | March 17

    American Express Co.'s CEO, Kenneth I. Chenault, reportedly received total compensation of $17.4 million in 2009 as the company grappled with fragile credit markets and the quality of its card loans, and repaid federal aid.

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Viewpoints

  • Ability To Pay: Next Steps For Financial Institutions

    March 15

    Financial institutions are breathing easier and getting on with their business since the deadline to become compliant with the final rule on amendments to Regulation Z passed last month. Now what? [FREE]

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A Closer Look

Chargeoffs Drain Receivables...

...Underpinning Card Contraction

Actual seasonally adjusted revolving credit versus a hypothetical scenario that holds chargeoffs steady.

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As alternative payment schemes proliferate, some contenders are combining fresh shortcuts to achieve the desired scale with uncommon payment technologies.

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