The U.S. Department of Education released its final regulation regarding Title IV funds disbursement before the Nov. 1 deadline, which means the regulations will go into effect July 1, 2016, and apply to the 2016-2017 school year.
Chase is not the first U.S. bank to launch a mobile wallet—Capital One secured that position earlier this month. But Chase Pay has snagged a huge partner in MCX and, when launched next year, will create a major alternative network.
In the year since token technology made its debut with Apple Pay’s launch, it’s driven some significant new payments innovations, but we’ve only seen the tip of the iceberg of the technology’s full potential in enabling many future applications in “connected commerce” that will radically enrich and improve payments, according to payments industry executives.
Blackhawk Network’s partner gift cards can now be integrated into Samsung Pay, enabling cardholders to manage and spend their gift cards through the mobile wallet.
Cachet Financial Solutions has launched enhancements to its Select Mobile Money prepaid platform with features addressing security and cardholder engagement.
In a decision that effectively classifies bitcoin as a type of currency rather than a good, the European Union’s highest court has ruled that the exchange of traditional currency for bitcoin is not subject to value added sales tax.
Cashfac Technologies, a specialist market leader in bank-to-corporate cash management solutions has launched Cashfac Analytics, a real-time data analysis and reporting module that enables banks and corporates to better understand their cash movements.
Cross-border payments providers looking to drive innovation should focus on solving problems in consumer use cases and getting regulators to help improve—not impede—technology development to streamline global remittances, payments executives said during an introductory panel at Money20/20 in Las Vegas on Sun., Oct. 25.
A year after first unveiling its prototype, smart payment terminal maker Poynt Co. is preparing to go to market soon, company founder Osama Bedier tells Paybefore.
Faster payments programs are live in 18 countries and 12 more are researching and building systems—the U.S. among the dozen.
A glitch in Barclays’ computer systems prevented many of its customers from making payments or withdrawing cash from their accounts over the weekend, the U.K. banking giant said.
The Clearing House has signed a letter of intent with VocaLink, the UK-based international payment systems provider, to help build and deliver core elements of TCH’s new real-time payment system for the United States.
Despite reassurances from UniRush Chairman and CEO Rick Savard earlier this week that the company is working around the clock to address any remaining cardholder issues arising from its recent technology migration, CFPB Director Richard Cordray today offered his two cents on the matter, saying the bureau will use “all appropriate tools at our disposal to help ensure that consumers obtain the relief that they deserve.”
The selfie boom was born in 2003 with the world’s first front-facing camera, and millennials are the first generation to grow up with technology focused on one’s self, bringing new expectations to the meaning of personalized, digital services.
Personalization has become more important than ever to consumers, as they shun anonymous mass advertising in favor of individual reviews and one-to-one brand engagement. But what if instead of helping big brands to adapt, you were to lead the change? This is where competitive advantage comes to life.
Clearly there’s an issue with how banks manage cross-border money transfers and payments. The process is inefficient, costly and archaic. That being said, I can understand why it is the way it is—building a truly global platform that enables FedEx-like payment transfers is no easy feat.
LG Electronics may be next to join the growing parade of mobile payments providers, and the biggest clue is the South Korean handset maker’s recent move to file a U.S. trademark application for “LG Pay.”
Visa Inc. is giving small and midsize credit and debit card issuers a new tool to optimize their marketing efforts.
The National Retail Federation’s annual holiday survey puts gift cards on top as the most requested holiday gift for the ninth consecutive year. Plus, consumers share plans for their most mobile holiday shopping season yet.
MasterCard is bolstering security on several fronts, launching tokenization for MasterPass and a new tool to help banks and processors reduce the threat of cyberattacks.
UniRush LLC last week disclosed a major service interruption with its RushCard GPR product that resulted in many of its customers experiencing difficulty using their cards and accessing funds over several days, resulting in apologies from RushCard co-founder Russell Simmons and a four-month holiday from card fees that will run Nov. 1, 2015, through Feb. 29, 2016.
Paris-based global card manufacturer Oberthur Technologies is planning to go public in what its owner, private equity firm Advent International Corp., is saying will be the largest technology IPO in Europe this year, according to reports.
Walmart this week joins major merchants participating in MCX’s CurrentC mobile payments test underway in Columbus, Ohio, with Exxon Mobil and Shell coming soon, the consortium confirms.
With the holiday season approaching, consumers will be able to purchase lottery gift cards to give as gifts or for self-use through a partnership with InComm and Scientific Games International. The Atlanta-based prepaid product and technology provider signed a five-year deal with Scientific Games to provide lottery gift cards in North America.
GPR card fees in the U.K. have been trending downward over the past few years, but forthcoming limits on interchange revenue could pressure issuers to reconsider their fee structures, according to Polymath Consulting’s David Parker.
What Glass Ceiling? Women Driving Payments Change; P2P on the Verge; M-Wallet Challengers; Apple Pay Stats; Cards Still Present: Why Plastic Rules; 2015 Paybefore Awards Europe Winners
Technology has infiltrated every facet of our lives, fundamentally changing our behaviour patterns and our expectations of what constitutes a good customer experience. The banking sector has not been immune to these changes; the industry has been forced to drastically transform its business processes and services in order to keep up with customers’ expectations. Today, customer satisfaction is judged not by the smile on the face of a cashier, but on the speed with which one can gain mobile access
Atlanta-based payments processing and technology provider First Data sets U.S. IPO record raising $2.5 billion, pricing its IPO of 160 million shares of Class A common stock at $16 per share.
With today’s launch of its Capital One Wallet, Capital One is the first U.S. bank to enter the mobile wallet race. But with 22 million active mobile customers, Chase may not be far behind.
Blackhawk Network Inc. today announced a key partnership with the 5-year-old Palo Alto, Calif. based startup Stockpile Inc., to distribute a line of gift cards representing U.S. stock market shares that can turn recipients into equity investors for as little as $50.
Dan Henry has been mostly quiet since leaving his role as CEO of NetSpend last year, but the payments pioneer has now dipped a toe back into the industry, investing in m-POS provider CardFlight.
SIBOS INTERVIEW: Paul Francis Walvik-Joynt, Engagement Director, NETS Group
Court considers whether it’s permissible for a discount for using cash or a surcharge for using credit cards.
A high-end fitness company selling tickets to reserve a spot in a specific class at a designated date and time comes under scrutiny for violating the CARD Act.
Borders gift cardholders do not get to claim $210 million in unredeemed gift card funds.
Target Corp., Amazon.com and a host of other retailers continue to challenge MasterCard, Visa and several large banks over the terms of a $7.25 billion settlement reached in 2013. The settlement was supposed to end the retailers’ claims that the banks and MasterCard and Visa artificially inflated interchange fees. Several of the largest retailers, however, […]
America has led Europe in payments innovation. Europe has led in payments regulation. The recent rubberstamping of PSD2 in Brussels suggests that’s likely to continue.
Real-time payments systems and infrastructures are being rolled out globally. What impact will they have on financial institutions? How fast is too fast? Daily News at Sibos asked delegates where the trend is heading …
