Baidu Inc., China’s version of Google, has entered the mobile wallet arena, pitting the country’s most popular search engine against the likes of Alibaba and Tencent Holding Inc., both of which launched mobile wallets last year.
Citi has launched an electronic block pricing tool via the Bloomberg App Portal, marking the first time a major tier one broker has ever used the Portal to deploy an application around the world.
Industry players welcome the guidance to bring the legal framework for prepaid under a single policy document that leaves little room for ambiguity, and industry continues to advocate for further reforms that will help drive growth of prepaid products to benefit Indian citizens.
Just in case there was any doubt among the critics, skeptics and the media, new numbers prove the value of prepaid cards to merchants and consumers. In 2014, retail purchases made with prepaid cards will top US$200 billion, equaling 5 percent of all retail spending in the U.S. Now, merchants are looking for ways to capitalize on the popularity.
Personal budgeting is an effective method for consumers to build a strong and stable financial future. Yet, for many, staying on budget is a constant struggle.
FTC calls for data security legislation to address recent increase of data security breaches.
A new Canadian bill proposes regulations on virtual currencies, cross-border MSBs, due diligence requirements, politically exposed persons and group-wide information sharing.
Facebook is putting the pieces in place to launch a money transfer service in Europe.
The Illinois House last week approved legislation that, if signed into law, might affect companies’ payroll card programs, beginning Jan. 1, 2015, when the new rules would take effect.
Payments processor Heartland Payment Systems has acquired MCS Software, a provider of school foodservice payment solutions at 4,000 K-12 schools across the U.S.
Nadia Dombrowski has joined the payments practice at Davis Wright Tremaine LLP as a partner in the firm’s New York office.
Payments industry consulting firm Double Diamond Group LLC has hired Rick Oglesby as senior research analyst and consultant of the recently launched Double Diamond Payments Research, a research division focusing on merchant acceptance trends and analysis.
eBay Inc. has announced the appointment of David Dorman as an independent director to the company’s board of directors.
First Data Corp., an Atlanta-based payments processor, has appointed Michael Manos as chief technology officer, responsible for First Data’s global technology infrastructure.
Heartland Payment Systems, a Princeton, N.J.-based merchant processor, has hired Samir Zabaneh as chief financial officer.
JetPay Payment Services, a division of JetPay Corp., has appointed Nancy Ann Barnhart chief information officer.
Optimal Payments, a London-based online payments and risk management provider, announced that President and CEO Joel Leonoff was named CEO of the year at the U.K. Stock Market Awards 2014 last month.
R&P Group, a Sioux Falls, S.D.-based payments industry recruiting firm, announced that Corbin Simon has earned the Top Producer Award (first quarter 2014) for the Sioux Falls area, from the U.S. Recruiting Network.
Bitcoin is the poster child of the cryptocurrency world, but it’s not alone. Michael Mainelli and Bob McDowell take a look at the real-world implications of the rise of AltCoins
Global regulatory pressure and the shift to real-time processing are causing banks and major financial institutions to rethink how they handle reconciliation, according to a new report by financial research house Aite.
eBay Inc. investor Carl Icahn has backed off his proposal for the online auction Website to spin off its PayPal subsidiary following discussions with eBay, of which he is a 2 percent owner.
FIS wants to help banks in the pursuit of the coveted millennial consumer by focusing heavily on mobile banking.
Contactless payments are spreading rapidly throughout Europe, according to new data from MasterCard.
Despite a somewhat bumpy rollout and several course-corrections, Google Wallet is here to stay, said the head of the tech giant’s payment division.
New regulations requiring financial institutions to increase the amount of data fields they have on their customer records and swingeing fines imposed when processes and data are found to be inadequate have triggered an increased focus on data governance.
More federal regulations may be on the way for digital currencies after U.S. Attorney General Eric Holder told lawmakers of his concerns about Bitcoin and other digital currencies as potential tools for criminals.
Prepaid card sales at retail are on the rise, driven by the combined efforts of prepaid providers, processors, networks and merchants, according to a new report by Aite Group.
M&A activity is on the rise in the payments industry, and the latest deal is in the card manufacturing and fulfillment space.
Trading firms are still struggling with the Dodd-Frank requirement for certain swaps to be traded on registered Swap Execution Facilities. According to a survey conducted by trading communications vendor IPC Systems, 60% of survey respondents said the industry as a whole was behind on meeting the deadlines on SEF trading, though only 39% said their […]
Standards consortium BIAN has released a new version of its industry standard framework containing more than 180 business scenarios including back-office, trade finance and sales.
As tax day approaches, the Louisiana House of Representatives yesterday approved a bill that would end the state’s Department of Revenue practice of automatically sending tax refunds on prepaid debit cards to taxpayers who don’t select a specific method for receiving their funds.
Virtual payment cards continue to gain ground in the B2B sector, with Bank of America Merrill Lynch announcing its ePayables electronic accounts payables platform has surpassed 100,000 enrolled corporate suppliers—nearly doubling from 56,000 enrolled suppliers two years ago.
Payments providers of every stripe are seeking ways to increase customer loyalty. Austria-based paysafecard, which offers one-time use e-vouchers, now is rewarding customers who opt to use its online payments account, my paysafecard.
Often lost amid the regulatory and legal controversy surrounding Bitcoin and other digital payments is a somewhat more practical issue; it’s just hard to spend the stuff in the real, offline world.
Despite the high profile media scandals surrounding the demise of the Mt Gox exchange and the Silk Road trading website, Bitcoin is evolving rapidly and will soon present a better, more stable and accountable alternative to the fiat currencies most of us trust and use every day, according to Mark Lamb, chief executive of London-based Bitcoin exchange Coinfloor.
Despite the deep controversy created by Michael Lewis’ expose of HFT Flash Boys, global equity markets are not broken, according to a senior capital markets panel at Trade Tech Paris 2014.
Microsoft tomorrow will issue the final security update for Windows XP, a 12-year-old product the software giant says no longer suits the risks of today’s computing environments. But millions of computers worldwide are still running XP, including an estimated 95 percent of U.S. ATMs, experts say.
The Canadian government has proposed a series of amendments to the country’s money laundering legislation, including provisions to extend the laws to cover digital currencies.
Payments are in the midst of some fundamental changes that will continually reshape the industry landscape for years to come, according to a new white paper from Vantiv Inc., outlining the top 10 payment trends to watch in 2014.
A majority of Americans view the features of reloadable prepaid cards favorably as financial institutions’ fees for checking account overdrafts have started to creep up, according to two recently released surveys.
