ederal prosecutors have charged the head of digital currency exchange BitInstant with conspiring to commit money laundering and operating an unlicensed money transmitting business.
The United States Postal Service’s Office of Inspector General has once again suggested that the Postal Service should consider providing financial products, including prepaid cards.
Madrid-based El Corte Inglés, Europe’s largest department store chain, this year plans to upgrade the majority of its POS terminals to accept contactless payments from NFC-enabled cards and handsets.
Russian online customs specialist firm Multiservice Payment System has begun using a new system designed by Swiss tech firm BPC Banking Technologies, which promises to make customs easier by combining a web portal with an e-declaration service via POS terminal.
Apple Inc. is making plans to launch a mobile wallet service for its iPhone, iPad and iTunes users, according to a Jan. 24 Wall Street Journal report.
The Consumer Financial Protection Bureau has proposed a rule it says would enable the agency to oversee larger, nonbank, international money transfer providers to ensure they are following the CFPB’s new protections for consumers sending money abroad.
Payments processor Stripe Inc. has secured $80 million in a new round of investment that valued the 4-year-old startup at $1.75 billion.
Austin, Texas-based prepaid processor Rev Worldwide has partnered with Chinese payment card giant UnionPay to “grow prepaid market opportunities around the world.”
There are two sides to every coin, but with Bitcoin those sides simply could not be farther apart. Its promise is extraordinary: for those afraid of inflation, it is gold redux, while for those who hate exchange rates, it is a way to pay internationally. For merchants it is a way of avoiding high transaction fees and for former Presidential hopeful Ron Paul, it is the destruction of the US Dollar.
T-Mobile USA Inc. this week became the first major U.S. mobile carrier to enter the GPR prepaid arena with Mobile Money by T-Mobile, a new smartphone application and accompanying Visa prepaid card.
With the Isis mobile wallet now live across the U.S., iPhone users remain unable to use the wallet to make contactless in-store purchases due to the handset’s lack of NFC capability.
Toyota owners in the U.K. can make car payments via mobile device, now that the automaker has signed on with the Barclays Pingit mobile payment app.
Clear2Pay is expanding its facilities in Scotland with the hire of 29 new staff, at its Dunfermline offices, bringing the headcount there to 50. The expansion is supported by a £250,000 Regional Selective Assistance grant from Scottish Enterprise. Kimball Felix, chief of staff at Clear2Pay, said, “In addition to our payments technology, we offer a […]
While there are now a dozen ways to build and maintain relationships with customers, many organizations often still treat these channels as separate silos, creating a disjointed customer care experience. By sharing data across channels, you’re more likely to have less frustrated, more loyal customers.
How employees are using their accounts can have a dramatic impact on an employer’s overall HSA strategy and benefit plan. As we approach the 10th anniversary of the enabling legislation for HSAs, the industry, employers and brokers/agents all have the opportunity to move HSAs forward with the use of insightful reporting and analytical tools.
2014 is shaping up to be a big year for e-money and those players with the ability to spot opportunities (think loyalty and mobile), and the agility to react to them, will increase market share and thrive.
While many large organisations have already planned and delivered their SEPA compliance, smaller and mid-sized firms have woefully underprepared for the deadline. Banks and payment organisations need to be prepared for a certain amount of confusion and resistance from UK customers who may not understand the reasons for the change, and may be reluctant to put the necessary changes into effect.
A ruling from the circuit court could be issued within the next 30 to 60 days.
According to a report from the Federal Reserve Bank of Boston, innovative mobile banking features can help underserved consumers obtain safe, secure and convenient options that foster financial inclusion.
In the latest development of the ongoing credit card interchange fee dispute between merchants and Visa and MasterCard, the National Retail Federation (NRF) has appealed a $5.7 billion settlement with the payment card networks.
Three judges for the U.S. Court of Appeals in D.C. convened last Friday to ask questions of lawyers representing debit card issuers, the Federal Reserve and merchants, as the panel weighs the Fed’s appeal of a lawsuit vacating its rule capping debit interchange rates at 21 cents in 2011, in accordance with the Durbin Amendment in the Dodd-Frank Act.
The Target stores data breach that occurred during the holiday shopping season and affected millions of Target shoppers continues to make headlines as police made two arrests at the Texas-Mexico border.
As the push to minimize steps for consumers inputting card data when making online and mobile purchases gathers steam, competition among digital wallets is intensifying.
Paybefore chats with First Data’s Ben Love to get some insight into the company’s recent moves, as well as the future of payments.
The European Central Bank has released statistics that it says show that migration to the Single Euro Payments Area “gathered pace strongly” in December and urged market participants not to relax in their migration efforts. Earlier this month the European Commission announced a six-month extension past the 1 February deadline by which time all payments […]
PayPal is vowing to make it simpler for consumers to use its brand.
MasterCard has finalized a licensing deal with pan-African banking group Ecobank under which the bank’s customers will have access to MasterCard’s payment solutions.
Bank of America may close up to 150 branches by the end of the year as the bank’s heavy investment into mobile banking continues to bear fruit, the company said.
TD Bank, the Cherry Hill, N.J.-based subsidiary of The Toronto-Dominion Bank, has launched a Visa-branded GPR prepaid card for teenagers—giving them the ability to make purchases in stores and online and enabling parents to track spending and set limits.
UK operator O2 has revealed that its O2 Wallet service, which closed last week, was a casualty of the pace of development in the fast moving mobile payments space.
Prepaid processor i2c Inc. will launch a new prepaid card in Japan in partnership with Shinsei Bank and CardFlex Japan, a subsidiary of Japanese electronics and media retailer Tay Two Corp.
Contactless transit payment is coming to the nation’s capital.
Zapp has partnered with five banks in the U.K. that have approximately 18 million customers combined to provide the financial institutions with its mobile payments service.
San Francisco startup offers merchants a data-driven business insights platform that does the heavy lifting for them.
One of the largest prepaid programs in the U.S. has an RFP out for issuers.
Digital currency continued to receive a hot-and-cold reception around the world this week, with Chinese e-commerce provider Alibaba banning Bitcoin payments, just as the Royal Canadian Mint prepared to demo a digital currency of its own.
Better ATM Services today announced a reseller agreement with Advanced Network Inc., in which ANI becomes a member of Better ATM Services’ reseller network.
As the payments industry awaits new rules on GPR prepaid cards set to be issued by the Consumer Financial Protection Bureau in May, an in-depth piece in Sunday’s Washington Post offers a fascinating look at the inner workings of the agency—and valuable insights into the CFPB’s origins, culture and motivations.
The 2013 holiday shopping season generated brisk sales figures in the U.S. and Canada, according to newly released reports from both sides of the border.
The scope of the data breach Target Corp. initially disclosed last month has expanded from 40 million credit and debit card customers to as many as 70 million more Target customers whose names, mailing addresses, phone numbers or emails may have been exposed, the retailer said on Jan. 10. The second set of data, which […]
