Courtesy of Robin Good here is a new concept in payments from RipplePay.  Essentially it allows friends to trade debts as IOU's. Normally, if your friend Alice owed you $10, she would have to pay you back before you could make any use of that debt. If you were creative, however, you might be able to pass the debt on to someone else who knew and trusted Alice, in exchange for something you wanted. For example, you might be able to get a book you want from Bob, who also knows Alice, in exchange for letting Alice know that she … Continue reading RipplePay

A Visa card that accesses your bank account over the Visa network, at a merchant, or an ATM. (courtesy of Payment news). In Australia, apparently this is the first offer of debit cards, and they are implementing it with Visa.
ANZ Everyday Visa Debit

• Worldwide acceptance of Visa while accessing your own savings. You can make purchases online, over the phone and at more than 24 million outlets around the world.
• No credit application necessary.
• Your choice of card design. Your ANZ Everyday Visa Debit comes in three unique designs you can choose from. Unlimited ANZ transactions for $6 a month.
• This includes ANZ ATMs, EFTPOS, ANZ Phone and Internet Banking and ANZ branches.
• ANZ's Online Guarantee for greater protection on Internet purchases plus ANZ Falcon™ monitoring for suspicious transactions.

Continue reading “Visa debit now offered by ANZ”

Great questions asked here at Payments News on this topic. While we have some clues, and directional research, the real impacts can only be estimated.

Payments News: More About NACHA's "Credit Push" Initiative – March 24, 2006

if the pilot can prove the service to be an net enabler of additional eCommerce growth. …."The real key", according to Samantha, "is what impact credit push will have on the payments mix"."

There are several things going on at the same time here:

1. introduction of "debit" activity to the ecommerce space
2. introduction of chip cards (debit and credit)
3. introduction of PIN verification for credit cards

Continue reading “Business case and impacts of the NACHA credit push initiative”

Eufiserv  (Brussels-based company owned by savings banks from twelve different countries and by the European Savings Banks Group (ESBG).) prepares for SEPA by 2008. Relevance to Bankwatch:Information only Finextra: Eufiserv prepares for Sepa Pan-European e-payments processor Eufiserv is moving to make its ATM card business compliant with the Sepa Cards Framework (SCF) so that the scheme can continue after the introduction of the singe euro payments area in 2008. The aim of the Sepa initiative is to dismantle cross-border barriers and drive down costs for non-cash euro payments to the level of domestic transfers. To become compliant with the SCF, … Continue reading Eufiserv prepares for Sepa

Paypal is very active. This service will be in direct competition with such services as Interac Email Money Transfer in Canada, and Online ACH in the US.

Relevance to Bankwatch:
Transaction revenue erosion.

Continue reading “PayPal offers text message payment service”

ATM’s are expensive. A mid sized bank has to spend $ 50MM every 8 – 10 years to maintain just the hardware in a 1,000 ATM network. Customers demand ATM’s for access to their money, yet, customers are using ATM’s less as debit takes hold.

An insider’s look … from Palm Desert, Calif. | ATM Marketplace News

One program to which PDNB pays special attention is debit. Often a behind-the-scenes player, PDNB is taking a lead role in spear-heading the prepaid debit-card effort.

Continue reading “ATM’s and future revenue generating potential”

I recall last year hearing a CIO, when asked whether he should care about Paypal, reply – they are American aren’t they? In fairness, its worth performing a bit more detailed analysis, because as I will show there are issues, and they are not clearly understood. However I believe they are a real threat to all Banks, including the Citibanks, Barclays, and BofA’s.
Where next for PayPal? – Financial Services – Breaking Business and Technology News at silicon.com

Online payments company PayPal is looking to extend its reach beyond its online shopping beginnings.

Continue reading “What’s next for Paypal, and why should banks care”

Dexit is a Canadian operator with a smattering of ex BMO executives, albeit one less with Persofsy’s departure. Dexit is a contactless micropayment service, used for purchasing coffee, lunch and similar. The merchant must have a Dexit acquiring device/ terminal to participate, and I suspect this is limiting Dexit’s growth. Also the customer must carry the Dexit tag. Other micropayment operators, such as Cardis, lever existing infrastructure, ie the debt card terminal acquiring device. Payments News: Dexit Announces Board, CEO Changes – March 20, 2006 Ms. Martin replaces Renah A. Persofsky, the founder of the company, who has served as … Continue reading Changes at Dexit suggests challenges, but the micropayment opportunity remains