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July 6th, 2012

Edition #311

 

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In this Issue

U.S. economy adds 80,000 jobs in June; unemployment rate holds at 8.2%
Cielo acquires Merchant e-Solutions for $670m
Late with Its 'Roadmap,' AmEx Could Jump into EMV Lead Among Networks
Weak Economy Plays to Prepaid's Strength, Says IBISWorld
I.M.F. Reduces Forecast for U.S. Growth
ETA Issues Statement on Mobile Payments Hearing
Harbortouch Announces Partnership with Super G Funding to Offer Business Loans to Company’s ISO Partners
Deutsche Telekom in Talks With Google on Mobile Payments
Growth in Retail Sales Slows From Last Year’s Numbers
Visa, MasterCard Said to Near Accord on Swipe-Fee Lawsuit
MasterCard Brings Mobile Payments to Europe
Are New Rules Necessary for Mobile Payments?
Moneris Solutions Receives Leading Prepaid Organization Award
FBI Credit Card Ring Bust Exposes PCI Challenges
Telefónica strikes direct-to-bill deals with Facebook, Google, Microsoft and RIM
Internet blackout for thousands coming Monday
Carry All Your Credit Cards on One ‘Smart’ Card
Video - Introducing Google Wallet Cloud APIs
As Research In Motion Ltd. tries to reverse its slide, it’s tough to find anyone betting on its ability to recover
Tackling Emerging Mobile Risks
Apple's Smaller-screen IPad Could Disrupt Tablet Market
Amazon Is Reportedly Working On A Smartphone, But Cracking The Market Won’t Be Easy
Big Banks Confront the Ghost of 'Bank Transfer Day'


In Other News

This Day in History 1957

Althea Gibson is first African American to win Wimbledon

On this day in 1957, Althea Gibson claims the women's singles tennis title at Wimbledon and becomes the first African American to win a championship at London's All England Lawn Tennis and Croquet Club.

Gibson was born on August 25, 1927, in Silver, South Carolina, and raised in the Harlem section of New York City. She began playing tennis as a teenager and went on to win the national black women's championship twice. At a time when tennis was largely segregated, four-time U.S. Nationals winner Alice Marble advocated on Gibson's behalf and the 5'11" player was invited to make her U.S. Open debut in 1950. In 1956, Gibson's tennis career took off and she won the singles title at the French Open--the first African American to do so--as well as the doubles' title there. In July 1957, Gibson won Wimbledon, defeating Darlene Hard, 6-3, 6-2. (In 1975, Arthur Ashe became the first African-American man to win the men's singles title at Wimbledon, when he defeated Jimmy Connors.) In September 1957, she won the U.S. Open, and the Associated Press named her Female Athlete of the Year in 1957 and 1958. During the 1950s, Gibson won 56 singles and doubles titles, including 11 major titles. Click here to read more.

 

 

TSG Fun Fact

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U.S. economy adds 80,000 jobs in June; unemployment rate holds at 8.2%

7/06/12 The Las Angeles Times  Facebook Like Button  Tweet Button

The U.S. economy continued to struggle in June, adding 80,000 net new jobs while the unemployment rate remained at 8.2%, the government reported Friday.  The new figures were a marginal improvement over May's dismal job-creation numbers, which were revised up to 77,000 from the initial report of 69,000. But June's figures fell below economists' projections of about 100,000 net new jobs.

Cielo acquires Merchant e-Solutions for $670m

7/03/12 Banking Business Review  Facebook Like Button  Tweet Button

Cielo, a Brazilian payment company managed and controlled by Banco do Brasil and Banco Bradesco has bought Merchant e-Solutions for $670m reinforcing Cielo’s strategy of offering innovative solutions and services to its customers and partners in Brazil. The acquirer said that the takeover of the US based payment processor will result in a presence in Silicon Valley while leverage it to settle more online transactions.

Late with Its 'Roadmap,' AmEx Could Jump into EMV Lead Among Networks

7/02/12 Digital Transactions  Facebook Like Button  Tweet Button

American Express Co. announced what it calls its “roadmap” for EMV and chip-based and mobile payments in the U.S., which means all four of the major U.S.-based payment card networks are now on record with plans to move beyond the magnetic-stripe payment card. Like the ones from MasterCard Inc. and Discover Financial Services, AmEx’s plan disclosed Friday largely follows the major deadlines announced last August by Visa Inc., the largest payment card network.

Weak Economy Plays to Prepaid's Strength, Says IBISWorld

7/03/12 The GreenSheet  Facebook Like Button  Tweet Button

The Prepaid Credit and Debit Card Providers industry has experienced explosive growth during the five years to 2012. “While other industries have been crippled by the recession, the weak economy played to the industry's strength,” says IBISWorld industry analyst Nima Samadi. “Fewer consumers had access to credit and bank accounts and instead opted for prepaid cards.” The industry also benefited from the rising need for electronic payment forms and favorable demographic shifts.

I.M.F. Reduces Forecast for U.S. Growth

7/03/12 The New York Times  Facebook Like Button  Tweet Button

The International Monetary Fund on Tuesday lowered its estimates for United States economic growth for this year and next, and urged policy makers to do more to help the housing sector and support the tepid recovery. In its annual assessment of the American economy, the fund also had a sharp warning for Washington: avoid the fiscal cliff at the end of the year, when the Bush-era tax cuts expire and mandatory spending cuts across the government come into effect. The sudden shock could be enough to put the country back into recession, the fund warned.

ETA Issues Statement on Mobile Payments Hearing

6/29/12 ETA  Facebook Like Button  Tweet Button

“Mobile money has great potential to extend critical financial services to those who are underserved or not served at all by the traditional banking system. ETA’s member companies are leading the development of services and products that make this new financial democracy possible, by helping small businesses accept mobile payments and by giving those without traditional bank accounts the ability fully to participate in the modern retail economy through their mobile devices.

Harbortouch Announces Partnership with Super G Funding to Offer Business Loans to Company’s ISO Partners

7/02/12 PRWeb  Facebook Like Button  Tweet Button

Harbortouch has signed a partnership agreement with Super G Funding, a leader in the residual based lending business, to provide business loans to the company’s ISO partners. The loans are based on the ISO’s residual portfolio and amounts range from a minimum of $10,000 up to $2,000,000. ISOs can receive this capital in as little as three days and the loan can be paid back over 12, 24, or 36 months.

Deutsche Telekom in Talks With Google on Mobile Payments

7/03/12 BusinessWeek  Facebook Like Button  Tweet Button

Deutsche Telekom AG (DTE) is in discussions with Google Inc. (GOOG) (GOOG) along with credit-card companies and banks to add partners to its mobile-payment system, Thomas Kiessling, the German company’s head of innovation, said in an interview. Europe’s second-largest phone company yesterday unveiled an alliance with Mastercard Inc. (MA) (MA) in Europe over its mobile wallet, which allows customers to pay bills using account information stored on handsets.

Growth in Retail Sales Slows From Last Year’s Numbers

7/05/12 The New York Times  Facebook Like Button  Tweet Button

Some of the nation’s biggest retail chains reported on Thursday that sales growth slowed in June, as shoppers held back amid wavering consumer confidence and unemployment. A survey by Thomson Reuters of 18 retailers showed that sales at stores open more than a year were up 2.5 percent in June, well below the 7.7 percent increase recorded in June 2011. The same-store sales results surpassed Wall Street analysts’ forecasts of a 2.4 percent rise.

Visa, MasterCard Said to Near Accord on Swipe-Fee Lawsuit

7//06/12 American Banker  Facebook Like Button  Tweet Button

Visa Inc. (V) and MasterCard Inc. (MA), the biggest payment networks, are prepared to settle a seven-year lawsuit brought by retailers to cut their credit-card costs later this month, three people briefed on the talks said.

MasterCard Brings Mobile Payments to Europe

7/06/12 The Street  Facebook Like Button  Tweet Button

NEW YORK (Trefis) -- MasterCard(MA_) has unveiled plans to launch a mobile-based cashless payment service in Europe, in collaboration with German phone company Deutsche Telecom(DT_). The duo will initially offer payment cards with near-field communication chips in Poland, and will later expand to other countries such as Germany. These cards will be issued through Deutsche Telekom's subsidiary ClickandBuy, and will allow customers to complete a transaction by moving the card close to a cash register. In the later phase, the technology will be integrated into SIM cards for use in mobile phones

Are New Rules Necessary for Mobile Payments?

7/02/12 The Wall Street Journal  Facebook Like Button  Tweet Button

Existing laws may not fully shield consumers from fraud and other losses stemming from their use of emerging mobile-payments systems, according to federal regulators. The Federal Reserve, Consumer Financial Protection Bureau and Treasury Department are zeroing in on the technology as major financial-services players like Visa, MasterCard, J.P. Morgan Chase and a slew of tech firms like Google and eBay’s PayPal are rolling out phone-based payment services.

Moneris Solutions Receives Leading Prepaid Organization Award

7/05/12 Moneris  Facebook Like Button  Tweet Button

Moneris Solutions, Canada’s largest credit and debit card processor, announced that it has been honoured with the Leading Prepaid Organization award at the inaugural Prepaid Awards Canada 2012 celebration. The Prepaid Awards celebrate innovation and best practices within the prepaid industry, while the Leading Prepaid Organization award recognizes a company that has made a significant contribution to the growth and development of this marketplace.

FBI Credit Card Ring Bust Exposes PCI Challenges

7/02/12 DarkReading  Facebook Like Button  Tweet Button

The publicity around the FBI sting that nabbed dozens of criminals in an international credit card fraud ring provides a good opportunity to reflect on the sophistication of today's data theft black market and the importance of organizations to look beyond the baseline security levels set by compliance regulations such as PCI, security experts say.

Telefónica strikes direct-to-bill deals with Facebook, Google, Microsoft and RIM

7/05/12 Finextra  Facebook Like Button  Tweet Button

The framework agreements with four of the world's biggest technology firms will allow Telefónica's millions of customers around the world to pay for digital content and services via Facebook, Google Play, the Windows Phone Marketplace and BlackBerry App World, through their mobile phone bills. The company has already started to roll out the capability in Europe and plans to have it live in 14 of its operating businesses, through its digital unit, by the end of the year.

Internet blackout for thousands coming Monday

7/06/12 CNNMoney  Facebook Like Button  Tweet Button

Hundreds of thousands of Internet users whose computers are infected with a particularly nasty virus will be unable to access the Web starting on Monday. The Federal Bureau of Investigation will shut down Internet servers that it temporarily set up to support those affected by malicious software, called DNSChanger. Turning off those servers will knock all those still infected offline.

Carry All Your Credit Cards on One ‘Smart’ Card

7/06/12 Mashable  Facebook Like Button  Tweet Button

Many of us have several credit cards that offer rewards like airline and hotel points when we use them for purchases. Yet with so many choices and frequently changing rewards, it can be confusing to figure out which card to swipe. Matthew Goldman wants to make this easier.

Video - Introducing Google Wallet Cloud APIs

6/29/12 YouTube  Facebook Like Button  Tweet Button

There have been exciting developments in the world of Payments at Google as we move forward with our digital wallet, and we have new APIs to share with you. Come and join us as we kick off the Commerce track at Google I/O 2012 with Peter Hazlehurst, Global Head of Product Management, Payments.

As Research In Motion Ltd. tries to reverse its slide, it’s tough to find anyone betting on its ability to recover

7/03/12 MarketWatch  Facebook Like Button  Tweet Button  

From software developers to Wall Street, RIM’s RIMM +2.21%  long-term viability is in real doubt since the news last week that its next generation BlackBerry 10 software and devices won’t be available until next year. This could be a near-fatal blow for the pioneering company, as its smartphone competitors continue to leap ahead with new devices for the holiday season. RIM is also laying off 5,000 workers.

Tackling Emerging Mobile Risks

7/06/12 Bank Info Security  Facebook Like Button  Tweet Button

The proliferation of mobile, particularly as it applies to mobile banking, has opened new revenue streams and enhanced customer and member experiences and convenience. But it also has opened new doors for fraud, and staying on top of those vulnerabilities is critical. So how are banking institutions addressing mobile security risks? Keith Gordon, who oversees authentication and security strategies for Bank of America's consumer online and mobile banking units, says most institutions are just now forging ahead in the mobile space, and new security gaps are areas for which they all must prepare, proactively.

Apple's Smaller-screen IPad Could Disrupt Tablet Market

7/05/12 PC World  Facebook Like Button  Tweet Button

An Apple iPad with a smaller screen, if released, could create tough decisions for buyers and slow the momentum of the current 9.7-inch iPad and a number of Android devices with 7-inch and 8-inch screens, analysts said on Thursday.

Amazon Is Reportedly Working On A Smartphone, But Cracking The Market Won’t Be Easy

7/06/12 TechCrunch  Facebook Like Button  Tweet Button

Amazon’s Kindle Fire has done a remarkable job carving out its own niche in the tablet space, and it seems a sequel is already barreling down the pipeline for a release in the coming months. That new tablet may not be alone though, as rumblings of yet another Amazon hardware project have started up once again. After conferring with their sources, Bloomberg reported late yesterday evening that Amazon is working on a new smartphone that they hope will go toe-to-toe with the iPhone and Android smartphones.

Big Banks Confront the Ghost of 'Bank Transfer Day'

7/02/12 BTN  Facebook Like Button  Tweet Button

Last fall, the Occupy movement encouraged frustrated customers to flee big banks in favor of credit unions and smaller banks. On the ground, it had mixed results. But large banks shouldn't get cocky. The perception that they are disconnected from their audience persists. "We're seeing consumer dissatisfaction with service; they feel impersonal and not recognized," says Mark Schwanhausser, a senior research analyst for Javelin Strategy and Research.

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