Over at Payments News they've published a wrap-up of the most notable payment news and events in 2006. Check it out.
Highlights
- A transformation of the cards business as MasterCard went public, VISA announced its intention to do so, and Morgan Stanley plans to spin off Discover Card.
- First Data Corp spun off its remittance business, Western Union, to focus on banks and merchants.
- Bankers were preoccupied with FFIEC guidance on authentication and security.
- 2006 was the tipping point year for contactless payments
- Small dollar transactions surged thanks to VISA's small ticket payment service, eliminating the requirement for a signature on transactions less than $25
- Gift cards reached critical mass
- Mobile banking and mobile payments re-gained momentum
- Person to person lending emerged as a new business model
- Web 2.0 infiltrates personal finance
- The three largest credit bureaus launched an alternative to FICO
Visit Payments News for a much more detailed list and links to coverage throughout the year.