eBay Acquires BillSAFE Invoice Technology

eBay acquired BillSAFE purchase-on-invoice technology, combining BILLSAFE with its PayPal online payments. The deal follows eBay Inc.’s minority stake investment in the company in October 2010. eBay Inc. now owns 100 percent of the outstanding shares of BillSAFE. Terms of the deal were not disclosed. PayPal believes the addition of BILLSAFE will provide a comprehensive payment service for merchants and consumers, working with merchants of all sizes for a simple and secure way to let shoppers purchase using an invoice. Customers simply select the item they want to buy, and then they receive an invoice for payment after the item is received.

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First Data Research Concludes December Spending Strong

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data Corporation electronic commerce and payment processing released its “SpendTrend Mid-Month Flash” analysis for the first half of December 2011 compared to the same period in December 2010. Tracking same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations, the analysis indicated the…

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Elan Acquires $700mm Credit Card Folio

Elan Financial Services completed the acquisition of the credit card assets of 28 financial institutions, in a portfolio comprising approximately $700 million of outstanding balances. The portfolio includes small business and consumer cards and was acquired from FIA Card Services for undisclosed terms. Among the 28 financial institutions, the portfolio includes cards offered by financial services firm Edward Jones to its clients through its network of more than 11,000 U.S. financial advisors. With this, Elan will own the assets but will continue to brand and to market the credit cards under the respective financial institution names.

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i2c Sees Strong Growth Thanks to Growing Prepaid Segment

i2c payment processing, loyalty and transaction settlement solutions, announced that 11 banks have signed up to use i2c’s payment processing solution since October 2011. The banks together manage 23 different prepaid programs marketed to consumers in hundreds of locations, many f which are in the process of adding prepaid products to their offerings. i2c’s processing platform provides features digital coupons and mobile solutions that differentiate and scale prepaid and emerging payment programs.

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Chase Blueprint and O Shows Consumers Spending Smart

Chase Blueprint asked an O, The Oprah Magazine reader panel how they will be spending this year, indicating a watchful eye on their holiday budgets. According to the survey, three in five (59 percent) respondents are planning to spend the same amount or more this holiday season than last year. On average, respondents plan to spend $594 on gifts this holiday season. Meanwhile, two-thirds of respondents (66 percent) “look forward” to shopping for gifts this holiday season. To save money this season, 59 percent plan to use coupons or look for last minute sales, while nearly a quarter (22 percent) bought most of their gifts during Black Friday or Cyber Monday. Additionally, more than three in 10 respondents will create a holiday shopping budget (36 percent), spend less money per gift (35 percent) or buy gifts for fewer people (31 percent). When it comes to the tradition of holiday parties, nearly one-third (28 percent) of respondents will host a holiday or seasonal party this year. On average, these party hosts are setting their party budget at nearly $300, with more than two in five (44 percent) planning to spend $100 to $249 on the party and more than a quarter (26 percent) planning to spend $250 to $499. For those hosting a party, the average number of party invitees is 19 people with nearly a third (27 percent) planning to invite five to 10 people and 46 percent planning to invite 11 to 20.

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Intuit Launches New Pre-Paid Card

GoPayment, making it easy to accept electronic payments, now gives small businesses and anyone who sells products or services a convenient way to receive and spend the money they’ve earned. Intuit announced the recent launch of the Intuit GoPayment Prepaid Visa Card, expanding Intuit’s strategy beyond processing credit cards on a mobile device to offering the convenience of a Visa prepaid account linked to GoPayment. The GoPayment Card makes it easy for users to have the funds they collect with GoPayment deposited into their GoPayment Card account. They can then use the card to make payments online, in stores and withdraw cash at ATMs everywhere Visa debit cards are accepted (some fees may apply).

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Fiserv to Offer Sageworks Products on its Processing Platforms

Fiserv made available five products from Sageworks credit risk to financial institutions using its account processing platforms. This partnership combines Fiserv with Sageworks’ credit analysis and loan portfolio management solutions. The Sageworks suite collects and analyzes data, efficiently identifying and monitoring emerging loan portfolio risks and measuring and reporting the impact those risks represent. Financial institutions that utilize account processing platforms from Fiserv will have access to the best-of-breed solutions from Sageworks, including solutions for global cash flow analysis, risk rating management, loan administration, loan portfolio stress-testing and allowance for loan and lease losses (ALLL) management.

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First Bankcard Acquires $285M Card Portfolio from FIA Card Services

First Bankcard, a top U.S. credit card issuer, announced the acquisition of 10 credit card portfolios, totaling $285 million, from FIA Card Services, N.A. The acquisition includes the portfolios of nine financial service providers – including industry leader New York Community Bank – totaling more than 1,000 branches. In addition to the New York Community Bank portfolio and the former Chrysler Financial portfolio, the acquisition includes relationships with Apple Bank, Chemical Bank, First Bank, First Farmers and Merchants and Old National Bank. Conversion of the portfolios is expected in 2012.

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Bottomline Technologies Named Innovation Leader

Bottomline Technologies collaborative payment, invoice and document automation solutions, announced that Financial-i magazine has recognized the company’s electronic invoicing solution in its annual Leaders in Innovation Awards as 2011’s most innovative e-invoicing product. Bottomline was selected by the publication’s award advisory panel, which includes industry consultants, practitioners and analysts from Tower Group, Celent and other firms. Electronic invoicing provides an opportunity for banks, their customers and technology providers to collaborate, automate paper-intensive processes and reduce costs. By leveraging industry standards such as SWIFT, organizations can create cross-border e-invoicing solutions that facilitate global business, improve working capital optimization and increase visibility into the financial supply chain.

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Javelin Research Shows App Banking Taking mBanking by Storm

Javelin Strategy & Research’s latest Mobile Banking Security report evaluates the specific security issues mobile bankers face when using three mobile banking channels: web browser, application, and SMS texting. With 44% of banking consumers, the mobile browser is the most widely used of the three channels and is perceived by the consumer to be the most secure. Mobile bankers with smartphones view the browser as an extension of online banking. However, banking using a downloaded app is the second most widely used channel and actually the safest for mobile bankers, with 25% of consumers using this channel. App banking has the potential to replace online banking altogether and serve as the consumer’s primary access to the FI.

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eBay’s Annual Study Shows Most Influential 2011 Pop Culture Moments

eBay announced its third annual “Top Shopped” report1, ranking the pop culture moments and trends that captured shopper’s attention – and cash – in 2011. eBay analyzed sales data based on what people bought across categories on the marketplace to identify what piqued the public’s interest this year–from must-have tech and toys, to pop star divas and celebrity standouts. With more than 200 million daily listings and a community of nearly 100 million users, eBay serves as a unique trend barometer, tracking the moments and movements that mattered most in 2011. In addition, armed with tablets and smartphones, and millions of eBay listings at their fingertips, people took on-the-go shopping to a whole new level this year. eBay.com Picks2 for America’s “Top Shopped” and Pop Culture Moments of 2011: NFL; Harry Potter; Twilight; Call of Duty; Green Bay Packers; iPad; Sade; Justin Bieber; Glee; and Charlie Sheen.

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