Blog: ‘Banking’ the Unbanked with Direct Express
The U.S. Department of the Treasury’s Direct Express Debit MasterCard program now serves nearly one-quarter of the nation’s entire unbanked population, a recent cardholder survey confirms.
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Is your analytics solution getting the better of you?
All banks, whatever their size rely on data to make decisions. With that in mind getting that data in a timely manner and in a format that can be digested easily is critical. So why can this be so difficult? We are all used to receiving reports from our systems and even the most rudimentary examples will utilise some form of analytics, however simple. We might be getting the reports and be used to the status quo, but is your analytics platform getting the better of you?
Green Dot Nabs Tax Refund Processor for $320 Million (Sept. 18, 2014)
Green Dot Corp. has entered an agreement to acquire Santa Barbara Tax Products Group (TPG), the largest consumer tax refund processor in the U.S., for $320 million.
Introducing Andrew Buckley, Head of Core Products for MasterCard in Europe (Sept. 18, 2014)
Paybefore was invited to sit down with Buckley, who joined the payments network 15 months ago, during MasterCard Europe’s prepaid conference, which concluded yesterday in Budapest.
NGC Expands into Europe, Buys Majority Stake in Revive Prepaid Management (Sept. 18, 2014)
National Gift Card Corp. (NGC), a Crystal Lake, Ill.-based marketer and supplier of gift cards for use in loyalty, incentive and rewards programs, today announced it’s expanding operations, retail partners and customers to Europe.
Simple Adds Touch ID, Support for Android Wear (Sept. 18, 2014)
Electronic banking provider Simple has added support for Apple’s Touch ID and Android wearable devices.
People on the Move: Kirk Kordeleski, CO-OP Financial Services Board
Kirk Kordeleski, president and CEO of Long Island, N.Y.-based Bethpage Federal Credit Union, has been appointed to the CO-OP Financial Services Board of Directors.
People on the Move: Jerry Uffner, FirstView Financial
FirstView Financial, an Atlanta-based provider of financial, mobile and payment technology solutions, has appointed Jerry Uffner president and CEO.
People on the Move: Pierre Burret and Eric Schneider, MasterCard Advisors
MasterCard Advisors, the professional services arm of MasterCard, has appointed Pierre Burret head of delivery, quality and resource management for Europe, Asia Pacific, Middle East & Africa and Eric Schneider as region business lead for Asia Pacific.
People on the Move: Brett Adams, MasterCard Worldwide
MasterCard Worldwide has appointed Brett Adams group head, integrated processing solutions.
People on the Move: Eric Dumois, Mobetize Corp.
Mobetize Corp., a mobile commerce payment solutions provider, has appointed Eric Dumois vice president, product and compliance.
People on the Move: Neil Ward, Skrill Group
Skrill Group, provider of online payment technologies to merchants and consumers, has appointed Neil Ward group chief product and marketing officer.
People on the Move: Lindsay Martens, Jacob Pfundheller, Shawna Moses, Dan Stephenson, Brian Storey and Connie Thienes, TMG Financial Services
TMG Financial Services, a Des Moines, Iowa-based payments solutions provider, has added six employees.
Introducing Antonia Stroeh: MasterCard’s New Head of Prepaid Product Development for Europe (Sept. 17, 2014)
During Day Two of MasterCard Europe’s prepaid conference, Paybefore met with Antonia Stroeh, the payment network’s new head of prepaid product development for Europe.
InteliSpend Launches MasterCard Prepaid Line in Canada (Sept, 17, 2014)
InteliSpend Prepaid Solutions is bringing its MasterCard corporate and incentives prepaid products to Canada, the company has announced.
Apple Pay Coming to China (Sept. 17, 2014)
Apple and China UnionPay Co. have struck a deal to bring Apple Pay, the wallet app featured on the new NFC-enabled iPhone 6 and Apple Watch, to China.
Kalixa, Millicom Form JV to Serve Africa and Latin America (Sept. 17, 2014)
Luxembourg-based telecom Millicom and Kalixa, a London-based payments service provider and 2014 Paybefore Awards Europe winner, have created a joint venture to develop a payments service provider to operate in Africa and Latin America.
Viewpoint: The One Who Enrolls Is the One Who Controls
The most effective strategy for retailers to thrive in an omnichannel age is to enroll customers for payment in their own mobile shopping apps.
Report from MasterCard Europe Prepaid Conference (Sept. 16, 2014)
A white paper released today at MasterCard Europe’s Prepaid Conference in Budapest asserts that financial institutions are not keeping up with consumer demand.
SUBWAY Deploying Softcard-Branded Payment Terminals at 26,000-Plus Stores (Sept. 16, 2014)
Starting next month, Softcard users will be able to pay for food at SUBWAY using their mobile phones, as the quick service restaurant announced today it will launch Softcard-branded NFC payment terminals at its 26,000-plus locations in the U.S.
Amazon Getting Out of P2P—at Least for Now (Sept. 16, 2014)
Amazon is shutting down its WebPay P2P money transfer service next month, the online retail giant announced this week.
India Banking Push Spurs RuPay Growth (Sept. 16, 2014)
India’s RuPay national payments network is growing fast, bolstered by a government drive to expand banking services and move the country’s economy away from cash.
The brave new world of mobile banking
The digital era is changing your bank rapidly. Is your mobile testing & assurance practice ready? P Venkatesh, director of the product division, and Srivatsan TT, vice president of the solutions group, at Maveric Systems discuss the issues
NBPCA, Gov’t, Consumer Groups Weigh In on Mobile Financial Services (Sept. 15, 2014)
Mobile financial services can play an important role among a large group of American consumers. That much the Network Branded Prepaid Card Association, the FTC and consumer organizations, including U.S. Public Interest Research Group and the Center for Digital Democracy, agree on.
Investors Line Up Ahead of Alibaba IPO (Sept. 15, 2014)
Chinese online shopping and payments giant Alibaba Group is finding no shortage of investor interest ahead of its upcoming U.S. IPO, which reportedly is already three times oversubscribed.
Reports: Weve Pulls Plug on Mobile Wallet (Sept. 15, 2014)
Weve, the mobile payments joint venture from mobile operators Vodafone UK, Telefónica UK’s O2 and EE, has abandoned plans to develop its own mobile wallet product after the U.K.’s three largest mobile telecom providers failed to agree on how to run the wallet.
Blackhawk Expands B2B Offerings with CardLab Buy (Sept. 15, 2014)
In a bid to build out its B2B incentives platform, Blackhawk Network has acquired CardLab Inc., a Dallas-based provider of customizable prepaid incentive and rewards cards.
The mobile movement driving multi-channel banking
Despite the significant challenges faced by the UK’s banking sector over the last decade, there has been a dramatic evolution in the customer experience following the introduction of online, telephone and mobile banking. While the branch remains an important channel, especially for older customers, mobile technology is rapidly redefining how customers interact with their banks.
Apple’s arrival will change the payments landscape – eventually
Apple may have lined up the chief executives of Bank of America and JP Morgan Chase to laud the launch of Apple Pay, but reaction from the wider industry was more muted – disappointed, even.
Will Apple Pay and Its Backers Ignite Mobile Wallets? (Sept. 11, 2014)
Numerous payments providers, financial institutions and merchants have thrown their support behind Apple Inc.’s new Apple Pay service—and if the tidal wave of early backing is any indication, the Apple and iPhone brands already may have overcome one of the most vexing issues hindering mobile wallet adoption—lack of widespread support by stakeholders in the value chain.
Visa Launches Token Service for Safer Online, Mobile Transactions (Sept. 11, 2014)
Visa Inc. has launched Visa Token Service to provide more security for e-commerce transactions, including online and mobile, by replacing payment account information with a digital account number, or token, which can be stored safely by online merchants or on mobile devices.
Amex Program to Spark Financial Inclusion Accepting Applications (Sept. 11, 2014)
Hoping to foster the next great ideas to promote financial inclusion for underserved consumers, American Express has begun accepting submissions for its Financial Innovation Lab, which provides researchers and practitioners from nonprofit organizations the opportunity to test their ideas on the American Express Serve prepaid account software platform.
MasterCard Sets Contactless Payments Deadlines for European Merchants (Sept. 11, 2014)
MasterCard has given European merchants accepting MasterCard and Maestro a deadline of no later than 2020 to update their POS systems so consumers will be able to tap to pay with their contactless cards and NFC-enabled devices at all POS terminals throughout the continent.
EU Makes Final Ruling on Cross-Border Interchange (Sept. 11, 2014)
The European Union’s Court of Justice has ruled that interchange fees charged for cross-border card payments by MasterCard were too high, bringing an end to a seven-year court battle over the fees.
Blog: Apple Pay—It’s a Matter of Trust
Apple’s big NFC move legitimizes the mobile wallet concept.
Viewpoint: With Russian Payments Landscape in Disorder and Chaos, Is a National Payment Scheme the Logical Answer?
Russia’s fragmented payments infrastructure cries out for modernization as it confronts international and domestic chaos. Could a national payments scheme unlock the giant’s potential as a huge emerging payments market?
Blog: No Pressure, Acquirers, but You’re the Key to Debit Growth in Emerging Markets
Acquirers hold the keys to driving debit growth in emerging markets. Here are five key questions acquirers intent on growing debit should be asking their merchant partners.
Barclaycard to Fold Quick Tap, Making Room for Wearables
Quick Tap, the U.K.’s first NFC-based mobile payment app, will go down as a casualty of the speed of change in mobile payments technology when it folds next month, and it likely won’t be the last.
Goods in transit: how lessons from retail can transform the financial data supply chain
Regulatory mandates call for the financial services industry to collaborate and rethink its data supply chain to tackle systemic risk and improve transparency. Looking at how the retail industry manages its supply chain could hold the key.
Twitter Testing ‘Buy’ Button in Latest E-Commerce Play (Sept. 9, 2014)
Twitter is testing a “buy” button that merchants embed in their tweets.
