Biometric alternatives to the fore at Money20/20
Biometric identity verification mechanisms were prominent among the raft of new product announcements at the Money20/20 event in Las Vegas, which opened this week.
Biometric identity verification mechanisms were prominent among the raft of new product announcements at the Money20/20 event in Las Vegas, which opened this week.
When one thinks of cutting-edge mobile commerce, a butcher shop in the 1980s isn’t likely the first image that comes to mind. But that was the connection made by Visa Inc. President Ryan McInerney, to illustrate what he views as one of the key ways in which mobile has the power to transform commerce—namely, by bringing personalization back to the shopping experience.
Apple Pay’s rollout was a top theme for payments executives speaking today during the kickoff conference session of CARTES in Paris.
Beginning this week, Russian customers of eBay Inc. will be able to pay for their purchases with Visa QIWI Wallet, the result of a partnership between the online auction Website and QIWI plc, a provider of payment services in Russia.
Payment processor i2c Inc., is providing the payment processing infrastructure behind a payments card geared for everyone from “cryptocurrency adopters and loyalty points junkies to the underbanked.”
True to its name, Ubiquity Global Services, a New York-based financial services and payments service company, is becoming more ubiquitous globally.
Biometrics have been getting a lot of attention as a means of payments authentication, but UniRush LLC wants to use the technology to bolster security and improve the customer self-service experience for its cardholders.
MasterCard Canada and Visa Canada are reducing interchange fees to an average net effective 1.5 percent rate for the next five years for consumer credit cards.
Yantra Financial Technologies, an electronic payment systems developer, has integrated its latest system for risk scoring of payments with the Ripple real-time settlement protocol. The integration means that institutions using the Ripple protocol can analyse transactions in seconds, including what other payments the customer recently made and potential concerns regarding a specific transaction. Risk levels can be assigned to certain transactions based on pre-determined criteria.
After a somewhat vague notice of its next field hearing, the CFPB updated its blog to specify that “prepaid accounts” will be the topic of the hearing, scheduled for 11 a.m. EST, Thursday, Nov. 13, in Wilmington, Del.—an exact location has not been given.
During a Money20/20 keynote, New York State Superintendent of Financial Services Benjamin M. Lawsky raised the possibility of a new addition in the proposed rules; licensing specially designed for virtual currency startups.
As more aspects of life leave the physical world and enter the digital one, the majority of U.K. consumers still prefer buying and giving physical gift cards, rather than buying and sending them electronically, according to a recent survey by global gift card provider and program manager Stored Value Solutions (SVS).
Ingo Money, known for its mobile check deposit capture technology and Good Funds Network, is planning to acquire Fuze Network, a payments technology company that enables loads to more than 1 billion bank-issued cards at thousands of retail locations.
Currency site XE.com and money transfer business Currency Cloud plan to launch a new international payments service called XE Money Transfers before the end of this year, which they claim will make foreign exchange transactions more transparent.
Yesterday the CFPB posted on its Website the announcement of its next field hearing, 11 a.m. EST, Thursday, Nov. 13, in Wilmington, Del.
It’s been a rough week for Merchant Customer Exchange (MCX), the retailer-led mobile payments consortium.
While more than a quarter of American households still were either unbanked or underbanked last year, as was the case in 2011, the proportion of unbanked households declined to 7.7 percent or 9.6 million households, compared with 8.2 percent in 2011, according to the latest report from the FDIC.
Ubiquity Global Services, a New York-based financial services and payments service company, will be the sole provider of dispute and chargeback services to UniRush LLC.
The hypothesis that seems to be gaining ground is that banks have a wider responsibility in society. If we believe that, then part of their responsibility must clearly be to provide banking products and services that serve the financial needs of the less affulent.
1to1 Card, a Chicago-based prepaid card program manager, announced that Paul Boemer has joined the company as chief strategy officer.
Bitcoin payment processor BitPay and Bitcoin exchange Vaurum announced that Arthur Levitt, former chairman of the U.S. Securities and Exchange Commission (SEC), will serve as adviser to both enterprises.
CardCash.com, a Brick, N.J.-based marketplace for secondary gift cards, has hired Tom Ochoa as senior vice president of business development.
MasterCard has appointed Safdar Khan to lead its growing Islamic payments business in Southeast Asia, and he will be promoted to the role of group country manager for Indonesia, Malaysia and Brunei.
Meta Financial Group Inc. announced that Elizabeth G. “Betty” Hoople has joined the company’s board of directors.
Royal Bank of Scotland (RBS) has hired Marion King as director of payments. She will begin her role with the Edinburgh-based company in early 2015.
Skrill Group, provider of online payment technologies to merchants and consumers, has announced that David Sear will become CEO, effective Jan. 1, 2015.
TMG Financial Services, a Des Moines, Iowa-based payments solutions provider, has announced the promotion of one employee and the addition of two others to the team.
Those of us immersed in payments may have a unique perspective on Apple Pay, but what about other folks? I asked one self-proclaimed Apple “fan boy” to give the mobile wallet a test drive.
Giving consumers what they really need and want from mobile payments will require making payments as invisible as possible.
India is on the brink of a huge economic transformation and making money digital is a crucial part of the solution.
MCX sets the record straight on CurrentC, including exclusivity and data security, following Rite Aid-CVS/pharmacy showdown with Apple Pay.
Banks in fast growing and rapidly developing markets have greater ambition to innovate and invest more in research and development on customer experience than those in mature markets, though all are increasing their investments.
More than 1 million credit cards were activated within the first three days of the Apply Pay mobile wallet’s Oct. 20 debut, Apple CEO Tim Cook told attendees at the WSJD Live Global Technology Conference this week.
Retail holiday spending in the U.S. is expected to jump 4.1 percent to $616.9 billion in 2014, marking the first increase of more than 4 percent since 2011.
Russian President Vladimir Putin last week signed a law giving Visa and MasterCard a five-month reprieve from paying a huge security deposit for operating in Russia, according to The Moscow Times.
MasterCard was one of several investors to lead a round of Series B funding that brought in $185 million for Mozido LLC, a startup that focuses on cloud-based, white-label mobile payments services for banks and merchants.
Consumers who want to use Apple Pay at the POS may be a little confused as two large pharmacy chains reportedly accepted some initial payments with the mobile wallet that went live last week, but no longer are.
Blackhawk Network and Green Dot Corp. recently have completed their acquisitions of Parago Inc. and Santa Barbara Tax Products Group (TPG), respectively.
FDIC Advisory Committee on Economic Inclusion will meet this week to discuss the results of the 2013 National Survey of Unbanked and Underbanked Households.
Several Paybefore Award-winning companies also were recent recipients of accolades at the Emerging Payments Awards held in London last week.