People on the Move: Frank Landen, Payworks
payworks, a POS payments platform for developers, has appointed Frank Landen general manager, U.K.
PayTech
Company on the Move: CPI Card Group, 2015 FinTech Forward 100 List
CPI Card Group has been named a member of the 2015 FinTech Forward 100 list of leading technology providers in the world.
Company on the Move: Dinsmore & Shohl LLP, Expansion of Banking and Financial Services Practice
Dinsmore & Shohl LLP has announced the expansion of its banking and financial services practice to include the financial services regulatory and enforcement group (FinsReg).
Company on the Move: The Money Services Business Association Launches
Money services companies have launched The Money Services Business Association.
People on the Move: Alpesh Chokshi, Visa
Alpesh Chokshi has been named head of national accounts at Visa.
People on the Move: Brent Almeida, WaveCrest Group
Wave Crest Group has appointed Brent Almeida CEO.
Study: Apple Pay’s Growth Slowing as it Enters Year Two? (Oct. 28, 2015)
At Money20/20 this week, Phoenix Marketing International released data from a new survey that suggests Apple Pay adoption is still on the rise, but its growth rate has slowed considerably in recent months.
Enacomm, VoiceVault Launch Voice e-Signature at Money20/20 (Oct. 28, 2015)
Enacomm, a provider of intelligent customer service solutions, and enterprise and mobile voice authentication company VoiceVault have integrated technologies for the provision of Voice e-Signatures. Showcased during Money20/20, and recently implemented for a financial industry giant that manages billions of dollars in assets, the technology enables identity verification via a phone or smart device for obtaining and storing customer signatures, the companies said.
Judge Enters $120 Million Suspended Judgment against Morgan Drexen CEO (Oct. 28, 2015)
After much legal wrangling that saw Morgan Drexen, the now bankrupt debt settlement services provider, and the CFPB filing lawsuits against each other, a judge last week handed down a suspended judgment against Walter Ledda, the company’s CEO.
Senate OKs Cybersecurity Bill Encouraging Info Sharing (Oct. 28, 2015)
The Senate has approved a cybersecurity bill that would make it easier for the private sector and governmental agencies to share information about potential cyberthreats. The Cybersecurity Information Sharing Act passed yesterday by a vote of 74-21, after several failed attempts to advance the bill. The House passed a companion bill earlier this year, which means a combined bill soon will be headed for President Obama’s desk.
DOE Publishes Final Rule for Title IV Funds Disbursement (Oct. 27, 2015)
The U.S. Department of Education released its final regulation regarding Title IV funds disbursement before the Nov. 1 deadline, which means the regulations will go into effect July 1, 2016, and apply to the 2016-2017 school year.
Money20/20: Chase Pay on the Way, Secures MCX Partnership (Oct. 27, 2015)
Chase is not the first U.S. bank to launch a mobile wallet—Capital One secured that position earlier this month. But Chase Pay has snagged a huge partner in MCX and, when launched next year, will create a major alternative network.
Money20/20 Panelists: Tokenization is Key to Driving ‘Connected Commerce’ (Oct. 27, 2015)
In the year since token technology made its debut with Apple Pay’s launch, it’s driven some significant new payments innovations, but we’ve only seen the tip of the iceberg of the technology’s full potential in enabling many future applications in “connected commerce” that will radically enrich and improve payments, according to payments industry executives.
Samsung Pay Adds Blackhawk Gift Cards (Oct. 27, 2015)
Blackhawk Network’s partner gift cards can now be integrated into Samsung Pay, enabling cardholders to manage and spend their gift cards through the mobile wallet.
Cachet Financial Solutions Beefs Up Its Select Mobile Money Platform (Oct. 27, 2015)
Cachet Financial Solutions has launched enhancements to its Select Mobile Money prepaid platform with features addressing security and cardholder engagement.
EU High Court Says Bitcoin Not Subject to VAT (Oct. 27, 2015)
In a decision that effectively classifies bitcoin as a type of currency rather than a good, the European Union’s highest court has ruled that the exchange of traditional currency for bitcoin is not subject to value added sales tax.
Cashfac adds analytics capabilities for corporates and banks
Cashfac Technologies, a specialist market leader in bank-to-corporate cash management solutions has launched Cashfac Analytics, a real-time data analysis and reporting module that enables banks and corporates to better understand their cash movements.
Money20/20 Panel: Cross-Border Payments are Poised for Breakthrough (Oct. 26, 2015)
Cross-border payments providers looking to drive innovation should focus on solving problems in consumer use cases and getting regulators to help improve—not impede—technology development to streamline global remittances, payments executives said during an introductory panel at Money20/20 in Las Vegas on Sun., Oct. 25.
PCI Certification in Hand, Poynt Readies Rollout (Oct. 26, 2015)
A year after first unveiling its prototype, smart payment terminal maker Poynt Co. is preparing to go to market soon, company founder Osama Bedier tells Paybefore.
The Clearing House, VocaLink to Deliver Faster Payments in U.S. (Oct. 26, 2015)
Faster payments programs are live in 18 countries and 12 more are researching and building systems—the U.S. among the dozen.
Barclays Latest to Be Hit by Systems Snag (Oct. 26, 2015)
A glitch in Barclays’ computer systems prevented many of its customers from making payments or withdrawing cash from their accounts over the weekend, the U.K. banking giant said.
SIBOS Interview: Christian Westerhaus, Deutsche Bank
SIBOS Interview: Christian Westerhaus, Deutsche Bank
The Clearing House inks US payments deal with VocaLink
The Clearing House has signed a letter of intent with VocaLink, the UK-based international payment systems provider, to help build and deliver core elements of TCH’s new real-time payment system for the United States.
Breaking News: CFPB’s Cordray Weighs in on RushCard (Oct. 23, 2015)
Despite reassurances from UniRush Chairman and CEO Rick Savard earlier this week that the company is working around the clock to address any remaining cardholder issues arising from its recent technology migration, CFPB Director Richard Cordray today offered his two cents on the matter, saying the bureau will use “all appropriate tools at our disposal to help ensure that consumers obtain the relief that they deserve.”
Viewpoint: Selfie Generation Demands Personalization
The selfie boom was born in 2003 with the world’s first front-facing camera, and millennials are the first generation to grow up with technology focused on one’s self, bringing new expectations to the meaning of personalized, digital services.
Viewpoint: Prepaid Opportunities: What Are You Leaving on the Table in the Battle for Customer Acquisition and Retention?
Personalization has become more important than ever to consumers, as they shun anonymous mass advertising in favor of individual reviews and one-to-one brand engagement. But what if instead of helping big brands to adapt, you were to lead the change? This is where competitive advantage comes to life.
Viewpoint: Carrier Pigeons and What the Payments Industry Can Learn from FedEx
Clearly there’s an issue with how banks manage cross-border money transfers and payments. The process is inefficient, costly and archaic. That being said, I can understand why it is the way it is—building a truly global platform that enables FedEx-like payment transfers is no easy feat.
Reports: LG Electronics Next to Enter M-Payments Fray? (Oct. 21, 2015)
LG Electronics may be next to join the growing parade of mobile payments providers, and the biggest clue is the South Korean handset maker’s recent move to file a U.S. trademark application for “LG Pay.”
New Visa Service Bolsters Marketing for Smaller Issuers (Oct. 21, 2015)
Visa Inc. is giving small and midsize credit and debit card issuers a new tool to optimize their marketing efforts.
NRF: Gift Cards (Again) are Most Wanted for the Holidays
The National Retail Federation’s annual holiday survey puts gift cards on top as the most requested holiday gift for the ninth consecutive year. Plus, consumers share plans for their most mobile holiday shopping season yet.
MasterCard Initiatives Give Boost to Security (Oct. 20, 2015)
MasterCard is bolstering security on several fronts, launching tokenization for MasterPass and a new tool to help banks and processors reduce the threat of cyberattacks.
UniRush LLC Offers 4-Month Fee Holiday in Wake of Glitch (Oct. 20, 2015)
UniRush LLC last week disclosed a major service interruption with its RushCard GPR product that resulted in many of its customers experiencing difficulty using their cards and accessing funds over several days, resulting in apologies from RushCard co-founder Russell Simmons and a four-month holiday from card fees that will run Nov. 1, 2015, through Feb. 29, 2016.
Oberthur Planning IPO in Paris (Oct. 20, 2015)
Paris-based global card manufacturer Oberthur Technologies is planning to go public in what its owner, private equity firm Advent International Corp., is saying will be the largest technology IPO in Europe this year, according to reports.
CurrentC Pilot Adds Walmart (Oct. 19, 2015)
Walmart this week joins major merchants participating in MCX’s CurrentC mobile payments test underway in Columbus, Ohio, with Exxon Mobil and Shell coming soon, the consortium confirms.
InComm, Scientific Games Partner to Offer Lottery Gift Cards (Oct. 19, 2015)
With the holiday season approaching, consumers will be able to purchase lottery gift cards to give as gifts or for self-use through a partnership with InComm and Scientific Games International. The Atlanta-based prepaid product and technology provider signed a five-year deal with Scientific Games to provide lottery gift cards in North America.
Looming Interchange Caps Could Mean Higher GPR Fees in U.K. (Oct. 19, 2015)
GPR card fees in the U.K. have been trending downward over the past few years, but forthcoming limits on interchange revenue could pressure issuers to reconsider their fee structures, according to Polymath Consulting’s David Parker.
SIBOS Interview: Disruptive Digitalisation and the banks’ role
Erik Zingmark, Deputy Head of Transaction Products, and Head of Cash Management, Nordea
SIBOS Interview: Benoit Desserre, Global Head, Payments and Cash Management, Societe Generale
SIBOS Interview: Benoit Desserre, Global Head, Payments and Cash Management, Societe Generale
SIBOS INTERVIEW: Bank-to-bank business – today and tomorrow
Erik Zingmark, Deputy Head of Transaction Products, and Head of Cash Management, Nordea
SIBOS Interview: Bruno Prigent and Mathieu Maurier of Societe Generale
Bruno Prigent , Head of Securities Services and Mathieu Maurier, Global Head, Sales Management at Societe Generale
