As Google Wallet continues to experiment, the latest evolution adds a new gift card management function and removes fees on debit card-based P2P money transfers made via the wallet.
Payment systems provider ACI Worldwide announced today it will acquire U.K.-based fraud prevention solutions provider Retail Decisions (ReD) in an all-cash purchase of $205 million.
The boundary between social media and commerce continues to blur, with a pair of announcements from two major tech companies accelerating the convergence of shopping and socializing online.
Too many vendors are marketing “blind”. What’s missing is quantitative data on how decision makers at financial institutions identify and select technology vendors. Understanding buyers’ influences is critical in helping develop marketing and communications programmes that ultimately help vendors to sell. B2B technology PR consultancy CCgroup partnered with MRops to interview senior decision makers from […]
Green Dot Corp., a Pasadena, Calif.-based provider of prepaid debit card products and reloading services, is discontinuing the MoneyPak PIN method of reloading cards, moving fully to the card swipe reload process, according to a written statement provided yesterday at a hearing of the Senate Special Committee on Aging.
The CFPB wants to expand its Consumer Complaint Database to enable consumers to provide a narrative with their complaints about financial services.
The battle for space at the online checkout counter continues as Visa Inc. unveils a new service to enable e-merchants to add a one-click purchase button to shopping Websites and apps.
The merchant plaintiffs in a lawsuit against the Federal Reserve Board of Governors have been granted another extension to petition the U.S. Supreme Court to hear the case.
Mobile NFC services continued to expand in 2013 but the big question is, will this be amplified or disrupted by the introduction of host-based card emulation (HCE) into mainstream operating systems?
Chuck Harris has been named senior executive vice president of TSYS, and he will take over the reins of TSYS-owned GPR and payroll card provider NetSpend, effective July 31, as CEO Dan Henry is leaving the company after serving in the executive role since 2008.
eBay Inc.’s Braintree payments unit has unveiled a new software development kit (SDK), marking Braintree’s first major upgrade since being acquired by eBay in an $800 million deal last year.
Chinese postal network China Post will make a major investment toward building a mobile and online payment service.
Consumer spending eased off a bit in June, but remained on an overall path of growth, according to data from First Data Corp.’s latest SpendTrend report.
Milan-based payment processing specialist SIA says that a migration of its systems to the Red Hat Linux environment has led to a 270% reduction in processing times.
Forty percent of mobile wallet users are using mobile as their primary form of payment—and mobile-specific offers and rewards could be the key to converting the remainder, a new report suggests.
With the Canadian government planning to phase out paper checks by 2016 for federal benefits recipients, half of Canadians who are unwilling to use direct deposit would be willing to try receiving their benefits on a reloadable prepaid card, according to a public opinion report released earlier this year and commissioned by the Public Works and Government Services Canada (PWGSC).
cadooz GmbH, a provider of vouchers, rewards and incentives, announced a deal to distribute gift cards and voucher codes for Spotify, the digital music streaming service, to business customers in 25 European countries.
Swedish mPOS provider iZettle has added €5 million (US$6.8 million) to its coffers, after the latest investment in the company’s Series C round of funding.
Unlike manufacturing companies, which run their operations on a single predominant ERP system supported by a few auxiliary solutions, banks have added layer upon layer of technology, ending up with an unmanageable snarl of systems and applications. Just to put things in perspective, it is estimated that on average global banks have more than 5,000 applications.
Regulators across the globe appear divided on the question of whether tighter control of algorithmic trading is necessary: the Australians are pretty laid back about it, the Germans are ahead of the game, while political debate rages in the US …
BLE is getting a lot of buzz because of its potential to complement other technologies like NFC for marketing and consumer engagement, but certain questions remain about its purpose and future.
Canada’s Vancity Credit Union could be an inspiration for U.S. lenders as it explores new territory, working with the CFSI to devise an affordable small-dollar loan product with an unsecured credit line suitable for underbanked consumers.
Setting up a bank in the UK is costly, time-consuming, heavily regulated and not easy. As a result, the dynamic, start-up culture that drives innovation in many other sectors is less prevalent within banking and financial services.
First Data is going all in to the booming gambling and casino industry with a suite of payment features to streamline the flow of money for U.S.-based online and offline gambling operations from casinos to racetracks, lotteries and poker.
Gift cards are popular with U.S. consumers, but there’s still room for growth, as many consumers are uninformed about or uncomfortable with mobile gift cards and e-codes, according to research by the Retail Gift Card Association (RGCA), a trade association of closed-loop gift card retailers.
i2c Inc. has opened a Singapore office to address the growing market for prepaid products and mobile financial services in the Asia Pacific region.
David Sear, the former chief executive of the Weve mobile network e-commerce joint venture, has been appointed as group chief commercial officer at Skrill Group.
The rise of new technologies is drastically redefining both the responsibilities of chief financial officers and the way they work, providing the ability tomake better organisational decisions with faster, accurate and more reliable data.
Allied Payment Network, a Fort Wayne, Ind.-based provider of online bill payment services to the financial industry, announced that Joe Bellavance has joined the company as its vice president of credit union services.
Mobey Forum, the international bank-led trade association devoted to advancing mobile payments, announced that Jordi Guaus, head of mobile payments at CaixaBank, has been elected to serve as chairman of the board.
Paybefore Award-winning processor and program manager StoreFinancial has announced that the Dell Advantage ePromotional card was awarded for “Best Prepaid & Payments Innovation” at the Third Annual PX Prepaid & Payments Awards.
Skrill Group has appointed David Clarke chief financial officer.
Visa Europe has appointed Greg Sheppard head of prepaid, and Peter Bayley, executive director, risk management, has been named to the global board of directors for the Merchant Risk Council, a global forum for e-commerce fraud and payments professionals.
Analyst firm Juniper Research reckons more people will be using mobile apps for banking than web-based options by 2019, as the 800 million people who used their phones for banking more than doubles to 1.75 billion in five years.
PayPal is slashing the time needed for businesses to receive PayPal funds in their bank accounts.
Isis, the NFC-based mobile payment initiative backed by AT&T Mobility, Verizon Wireless and T-Mobile, announced it will rebrand its mobile wallet to distance the company from the Islamic State of Iraq and Syria, a jihadist militant group that often goes by the acronym ISIS.
Calling it a transition year, U.K.-based Monitise announced today its full year revenue for 2014 will fall short of expected growth because of a change to its business model.
Banks are continuing to spend money on branches, but they are dramatically changing their role to become centres for sale-oriented advice rather than service-oriented transactions, driven by the rapid growth of digital banking.
The IRS has announced new procedures, effective January 2015, limiting the number of tax refunds electronically deposited into a financial account or prepaid card account to three, in an effort to combat fraud and identity theft.
A Brazilian fraud ring has absconded with US$3.75 billion in two years using malware to penetrate Boleto payments from individual consumers and companies, and redirecting those payments to fraudulent accounts, according to a report by security solutions provider RSA Research Group.
