People on the Move: Patricia A. Watson, TSYS
TSYS announced that Patricia A. Watson has been named senior executive vice president and chief information officer, effective Sept. 14.
PayTech
Target and Visa Finalize Deal to Settle Data Breach Costs (Aug. 18, 2015)
Target Corp. has reached a deal with Visa Inc. to reimburse credit and debit card issuers for costs incurred following a massive data breach disclosed during the 2013 holiday shopping season that exposed personal data of more than 100 million consumers.
Apple Pay’s Australian Rollout Stalls on Bank Negotiations (Aug. 18, 2015)
Apple Inc.’s plan to roll out Apple Pay soon in Australia—which has a high penetration of contactless cards and NFC terminals—has hit a snag as the country’s largest banks balk at paying the toll Apple requires, according to reports.
PHH Granted Stay in CFPB Decision, Questions Bureau’s Power (Aug. 18, 2015)
In a blow to the CFPB, mortgage servicer PHH Corp. earlier this month was granted a stay pending appeal of a $109 million enforcement action issued by Director Richard Cordray and the bureau in June.
Earthport’s Ripple Integration Takes the Blockchain to Banks (Aug. 18, 2015)
Global payments network Earthport has teamed up with Ripple Labs to offer real-time cross-border payments via Ripple’s blockchain-based transaction ledger protocol.
Instinet to offer cash management and payment services to research clients
Nomura’s equities execution unit, Instinet Europe, is to offer cash management and payment services to purchasers of its investment research products following authorisation from the UK’s Financial Conduct Authority to operate as a payment institution.
Commerce, PayPal Join for New Data Insights (Aug. 17, 2015)
The U.S. Department of Commerce and PayPal are teaming up to help guide international strategy for small and midsize U.S.-based businesses by combining data generated by PayPal’s global payments networks with government-sourced economic data.
State Bank of India Poised to Launch ‘SBI Buddy’ M-Wallet (Aug. 17, 2015)
The State Bank of India this week enters India’s increasingly competitive mobile wallet field with “SBI Buddy,” an m-wallet enabling consumers to make purchases directly from participating merchants’ e-commerce offerings.
Fintech ‘unconference’ comes to New York
On 15 September, fintech firms BBVA Open Talent, Consult Hyperion, NYPAY and Next Bank NYC will present keynotes and discussions as well as twenty fintech start-up demos competing as part of the BBVA Open Talent competition.
Samsung Pay Launching Sept. 28 in U.S., Reaching ‘Nearly Everywhere’ (Aug. 13, 2015)
Samsung Electronics Co. Ltd. today announced that Samsung Pay will launch next week in Korea and on Sept. 28 will get in the m-wallet ring with Apple Pay in the U.S., enabling consumers with the latest generation of Samsung’s handsets to tap their devices and pay contactlessly “nearly everywhere” cards are accepted, including NFC-ready locations and those that are not yet NFC-ready, the company said.
Debit Caps: Fed Explains Transaction-Monitoring Rationale (Aug. 13, 2015)
The last lingering issue in the long-running legal dispute between merchants and the Federal Reserve Board of Governors over debit interchange fee caps took a step toward resolution this week, with the Fed detailing how it calculated a controversial aspect of the fee limit.
Perk.com Launches Rewards Prepaid Card with Discover, Marqeta (Aug. 13, 2015)
Perk.com Inc. has tapped One to Watch Paybefore Award-winning Marqeta to launch Perk Plastik, a Discover prepaid card that enables its rewards members to redeem points online and at the POS.
Fintech Acquisitions Roundup: FIS, Yodlee, SVB Deals (Aug. 12, 2015)
Financial technology investment remains hot, with several fintech providers involved in major acquisitions announced over the past week.
MasterCard, TD Bank Test Payments Wristband That Uses Consumer’s Heartbeat (Aug. 12, 2015)
MasterCard, Canada’s TD Bank Group and technology provider Nymi, formerly Bionym, are getting to the heart of payments security.
Rite Aid Reconnects NFC at its Stores Nationwide, Welcoming All NFC Payments (Aug. 12, 2015)
Pharmacy retailer Rite Aid this week said it will resume NFC acceptance at its 4,600 stores nationwide beginning Aug. 15, following months disabling contactless payments acceptance in the wake of Apple Pay’s rollout.
Global Move to Real-Time Payments Speeds up with New Standards (Aug. 11, 2015)
Global payments stakeholders, including regulators, are getting behind ISO 20022 as the standard that eventually could enable interoperable real-time, cross-border payments.
Amex Extends Apple Pay to U.S. Corporate Cards (Aug. 11, 2015)
American Express Co. this week expanded its Apple Pay connection to include corporate cards, becoming the first major corporate card portfolio to integrate with the m-payments service, the New York-based company said.
CPI Card Group Files for $100 Million IPO (Aug. 11, 2015)
Littleton, Colo.-based card manufacturer and payments company CPI Card Group Inc. has filed preliminary paperwork with the SEC, saying it could raise up to $100 million in an initial public offering.
Report: Speed, Security Essential to Continue M-Banking Boom (Aug. 11, 2015)
To compete in a mobile world, financial services providers must focus on speed, convenience and security when designing mobile banking and payments services, according to a new report.
“Landmark” reached as ISO 20022 comes to international payments
International payments may soon be made using the ISO 20022 messaging standard for the first time, following the publication of the first draft of ISO 20022 payments messages by an industry association backed by Payments UK (formerly the UK Payments Council).
Target Aims for Bullseye with Beacons (Aug. 10, 2015)
Target is tackling showrooming and hopes to increase shopper engagement with its latest test of location-based beacon technology in 50 of its stores, with a nationwide rollout slated for later this year.
California Taps PayNearMe to Accept Child Support Payments in Cash (Aug. 10, 2015)
PayNearMe is using its national retail footprint to enable the California Department of Child Support Services to accept cash payments for child support.
Sen. Blumenthal Asks MCX to Explain M-Payments Exclusivity Policy (Aug. 6, 2015)
Sen. Richard Blumenthal (D-Conn.) this week sent a letter to the retail consortium Merchant Customer Exchange (MCX), which is readying the launch of its CurrentC mobile payments service, demanding details about its exclusivity policy requiring participants to block rival mobile wallets, along with other information.
BofI Gains OCC Approval to Acquire H&R Block Bank (Aug. 6, 2015)
BofI Federal Bank has received approval from the Office of the Comptroller of the Currency (OCC) to acquire certain assets and liabilities from H&R Block Bank.
OCC Issues Guidance for Tax Refund Prepaid Issuers (Aug. 6, 2015)
The Office of the Comptroller of the Currency (OCC) has released new guidance for banks issuing tax refund-related products, including prepaid cards.
Wincor Nixdorf targets Brazil retail banking market
ATM maker Wincor Nixdorf is to expand its ATM business in Brazil, following a deal with Brazilian hardware company Perto. The deal comes as the BRIC market expands its retail banking infrastructure to serve the growing middle class of Brazilian society.
People on the Move: Meredith Fuchs and David Bleicken, CFPB
The CFPB has announced that Meredith Fuchs will serve as acting deputy director, replacing Steve Antonakes, who left the bureau at the end of July. David Bleicken, deputy associate director for supervision, enforcement and fair lending, will serve as acting associate director for supervision, enforcement and fair lending until a replacement is hired.
Company on the Move: DCR Strategies Inc. | TruCash, New Brand Logo and Website
DCR Strategies Inc.| TruCash, a Toronto-based provider of prepaid and loyalty products, has launched a new brand logo and corporate Website.
People on the Move: Faster Payments Task Force Steering Committee, The Federal Reserve
The Federal Reserve has established the Faster Payments Task Force with the mission of identifying and evaluating alternative approaches for implementing faster payments capabilities in the U.S. Steering committee members of the task force recently were named.
People on the Move: Philip Julian, i2c Inc.
i2c Inc. announced that industry veteran Philip Julian has joined the company as head of sales, Australia and New Zealand.
People on the Move: Andrew Johnson, National Gift Card Corp.
National Gift Card Corp. has announced that ngcEurope CEO Andrew Johnson was recently honored with the annual U.K. Gift Card and Voucher Association’s Lifetime Achievement Award and named to the organization’s Hall of Fame by a vote of its members.
People on the Move: Damian Young, Nomis Solutions Inc.
Nomis Solutions Inc., a San Bruno, Calif.-based data and analytics company, has appointed Damian Young managing director, Nomis Europe Ltd (EMEA).
People on the Move: John D. Rainey, PayPal Holdings Inc.
PayPal Holdings Inc. announced John D. Rainey is joining the company as chief financial officer, effective Aug. 24, 2015.
People on the Move: Cathy Pace and Andrew Rosen, PSCU
PSCU, a credit union service organization (CUSO) based in St. Petersburg, Fla., has appointed as associate directors Cathy Pace, president and CEO, Allegacy Federal Credit Union, Winston-Salem, N.C.; and Andrew Rosen, president and CEO, Hawaii State Federal Credit Union, Honolulu, Hawaii.
People on the Move: Mohammad Khan, YellowPepper Board
YellowPepper, a Latin American mobile payment and banking company, announced that Mohammad Khan, former president and founder of ViVOtech, has been named chairman of YellowPepper’s board of directors.
Switzerland’s SIX Group and Swisscom target retail payments via mobile app Paymit
Swiss exchange group SIX and Swiss telecoms company Swisscom are planning to create a Switzerland-wide, universal mobile payment solution in collaboration with banks. The plan encompasses shopping as well as peer-to-peer payments.
Will PSD2 be the driver for a new era in open banking?
So after the protracted and ongoing rollout of SEPA, along comes further EU regulation in the guise of the second phase of the Payment Services Directive (PSD2) with further challenges to banks impacting the provision of one of the core banking services – namely payments
Green Dot Goes Mobile for Cash Loads (Aug. 4, 2015)
Green Dot Corp. is using barcode-generation technology to enable customers to add cash to their accounts using their mobile devices at more than 65,000 retailers in its reload network.
Rise of Mobile Squeezes Facebook’s Payments Revenue (Aug. 4, 2015)
Amid Facebook’s better-than-expected, second-quarter earnings report last week, payments revenue fell 8.1 percent.
CVS Hack Highlights Importance of Vendor Selection
Another warning to check that your vendors apply appropriate security measures.
