Market Scan

Headlines: U.S. Payments

Notre Dame, Chase Enhance Fightin' Irish Fan Experience; ND Becomes One of the First Universities to Accept Contactless Credit Card Payments with blink

Headlines: Mobile Banking and Payments

Firethorn and CheckFree to Provide Arvest Bank Group Mobile Banking and Payments;

NYCE To Provide Mobile Banking And Payments Services Powered By Monitise Americas

Headlines: Mobile Banking and Payments

NETS and SingTel to Launch Next Generation Mobile Payment Applications

Visa Unveils New Contactless Payment Device - Visa Micro Tag

VISA Touts Progress with Contactless Technology

VISA has announced additional progress with its contactless payment technology, VISA PayWave.  For the press release, click here.

Its Official: JPMorgan Chase Announces SMS Based Mobile Banking

Props to Brandon McGee over at the Mobile Banking & Money Blog for the scoop.  Now its official:

http://investor.shareholder.com/JPMorganChase/press/releasedetail.cfm?ReleaseID=264788&ReleaseType=Current

Comerica Announces Leadership in Pre-Paid Commercial Cards

According to the Nilson Report, Comerica is #1 issuer of Pre-Paid Commercial Cards, #3 issuer of fleet cards, #9 issuer of corporate cards, and #17 issuer of purchasing cards.

Commentary

This is a nice niche for the $58 billion asset Comerica which is currently relocating its corporate headquarters from Detroit to Dallas.

JPMorgan Chase Offers SMS-based Mobile Banking

Brandon McGee over at the Mobile Banking & Money Blog reports that JPMorgan Chase has begun offering SMS based mobile banking. 

Bank of America Announces Out-of-Band Authentication Option

Prior posts have discussed the use of "out-of-band" user authentication options to provide added security.  Usually, this type of authentication involves sending a one time PIN to the customer's mobile phone.  Bank of America is among the first banks to officially adopt out-of-band user authentication as an optional free security feature:

"SafePass™, delivers a one-time-use six digit code as a text message to consumers' mobile devices that they can use to authorize their most sensitive online transactions. As an additional security measure, the code expires as soon as it is used or within 10 minutes after it is issued."

For the full press release, click here.

TowerGroup Reports on PINless Debit

TowerGroup, a research and advisory services firm, predicts that the use of PINless debits will grow 40% in 2007, but still only account for 0.45% of all bill payments.  For the full press release, click here.

Commerce Bank Select WASAU for Retail Lockbox

Kansas City based Commerce Bank selected WAUSAU as its end-to-end remittance solutions provider and is utilizing WAUSAU's industry-leading ImageRPS application for retail lockbox operations.  For the full press release, click here.