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News, views and my insight into (and opinion of) the growing Payments Industry
Browsing All Posts published on »March, 2012«
Another bell tolls for the almighty check! NACHA’s new program coverts consumer checks at Point of First Deposit
I was quite pleased today to learn that NACHA is expanding the types of consumer checks eligible for conversion to the ACH. The concept of allowing consumer check deposits to be eligible for conversion has been contemplated since the inception of ARC (and later BOC) as valid ACH transaction types. Low value consumer check deposits […]
The David and Goliath of Payments “Square off” — this round goes to Square sorry PayPal…
March 27, 2012
I was intrigued this morning when I read about Square’s rebranding of its consumer mobile payment app in two separate articles. “Card Case” is now “Pay with Square.” The articles stated that the Pay with Square identifies local Square merchants who will accept mobile payments using the app. Pretty cool I thought, but agree with both articles’ presumption […]
AFP 2012: Payments industry getting smarter at detecting and thwarting fraud
March 23, 2012
Funny thing happened the other right after I finished my blog post about why the private sector needs to establish better and more secure standards practices for mobile payments than what exists today for cash, checks and credit cards, the Association for Financial Professionals (AFP) 2012 Payments Fraud and Control Study showed up in my email box. […]
Yes! SaaS vendors can help credit unions bridge the gap in the electronics payments space
March 23, 2012
Credit unions have traditionally not focused on the small businesses market segment. The field of membership constraints and legal restrictions (credit unions are currently pursuing legislative approval to extend their business lending caps, but are encountering adamant opposition from banks because of their non-for-profit as in tax exempt classification), lack of business lending expertise and […]
“Alternative Payment” Providers–Walmart, PayPal, Google and Facebook–are the new faces of money service businesses
March 14, 2012
The classification of a money service business (MSB) in the past has never generated positive connotations or excitement. Bankers audibly groaned when the those three words were mentioned. MSBs were often located in less than desirable locations and considered taking advantage of the poor due to the fees charged for payday lending and being havens […]
Just when you settled back with your popcorn and soda to watch the mobile payment and wallet competitors duke it out…
March 8, 2012
As reported by American Banker: “The (apple mobile payment) patent, which has been in the works for some time, covers a method to allow an embedded NFC chip to be used to execute mobile payments when an iPhone user pays at a point of sale terminal. The patented technology allows card companies to send information to […]
Finally…a real-time intelligence software solution for companies looking for much safer remote workforce option
March 1, 2012
Imagine…RIM’s Blackberry was once THE only mobile phone permitted and supported for employees of financial service institutions and related companies and government agencies. Blackberry was once the device of choice because it satisfied the risks inherent in mobile communication. IT and risk managers understood and were comfortable with how RIM secured its Blackberry devices. But […]
Why it is so important to make sure a new SaaS provider contract is the perfect fit for your small business or bank
March 1, 2012
As I have mentioned time and time again, the mobile payments and its multi-channel market has become quite messy—with so much experimentation going on. Yet stakeholders continue to slog it out tryingat to jockey for the best position and interestingly enough, their efforts are both defensive and offensive. More times than not, these stakeholders in […]
March 29, 2012
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