The Consumer Financial Protection Bureau (CFPB) is creating a guide to help colleges evaluate institutions that offer financial accounts to students—and the CFPB is seeking input in devising the document.
As in any complex document, there are some ambiguities in the FAQs and time will tell how those will play out. But, what’s clear is that for many banks, the FAQs raise the cost of doing business, which will (or should) precipitate a review of business models.
Macro trends, including increased access to mobile devices and the Internet as well as consumer appetite for deals, will continue to drive changes in shopping behavior and broaden the use of both prepaid and electronic payments in 2015.
Retailers and payments executives who were hoping to get an answer from the Supreme Court this week on whether the court will hear NACS et al v. Board of Governors of the Federal Reserve System will be waiting a bit longer.
President Obama is throwing support behind new legislation to further protect consumers from data breaches, while backing another new bill that would prevent companies from misusing student data. At a Federal Trade Commission presentation Jan. 12, President Obama outlined the Personal Data Notification & Protection Act, which would require U.S. companies to notify customers within […]
PayPal this week rolled out a set of enriched features for PayPal Credit and introduced a new Business Consulting service to enhance retailers’ e-commerce operations.
MasterCard is joining with the Indian state of Gujarat to accelerate the adoption of electronic payments across multiple sectors, including commercial, government and transit.
We asked a number of prominent players in emerging payments to give us their opinions on what the shift in the 114th Congress might mean to payments.
1to1 Card, a leader and innovator in prepaid card management services, has announced that Daniel Grotto has joined the company as CFO and member of the company’s advisory board.
Card marketing and production service provider Arroweye Solutions has appointed Reiner Vanooteghem vice president of market development.
Merchant Warehouse, a provider of payment technologies and processing solutions, has changed its name to Cayan.
The CFPB has appointed Tony Alexis head of enforcement.
Emerging Payments Association (EPA) announced that David Hunter, CEO of London-based Ukash, has joined the association’s advisory board.
Green Dot Corp. has appointed Chief Technology Officer and Executive Vice President of Product Development, Kuan Archer, to chief operating officer.
MasterCard has named Michael Fiore as the new head of the payment network’s global prepaid strategies.
TMG Financial Services (TMGFS), a Des Moines, Iowa-based payments solutions provider, has announced several additions to the team.
TSYS announced that Thomas Boyer has been named president of TSYS Merchant Solutions, its direct acquiring business unit.
Prepaid provider UniRush LLC has made a move into the payroll vertical, striking a deal to acquire the rapid! PayCard business from WEX Inc.
Community banks, which continue to show interest in prepaid but may not have the resources to build their own programs, have a new quick way to enter the market, according to Cachet Financial Solutions.
Shortly after Softcard unveiled Tappy, a puppet starring in a campaign to educate consumers about Softcard and mobile payments, the NFC-based mobile payment initiative backed by AT&T Mobility, Verizon Wireless and T-Mobile has laid off approximately 60 employees.
Comments are due Feb. 9, 2015, for a multisite program the CFPB plans to launch early this year to provide one-on-one and group financial counseling to individuals with disabilities transitioning into the workplace or who already are employed.
Switzerland’s SIX Payment Services has begun distributing the country’s first contactless debit cards, through a partnership with local bank Hypothekarbank Lenzburg, based in Aargau. The project, which began in December, replaces the bank’s entire portfolio of 22,000 debit cards with dual interface V PAY cards that enable contactless and regular transactions.
P2P options abound, but I won’t be ditching my checkbook until providers make it easy and compelling enough for the local service providers I pay to make the switch.
As the prepaid industry matures, program managers and other providers are looking for new ways to to drive customers toward behaviors that improve both the provider’s bottom line and the consumer’s financial health.
Nearly 200 ATMs in the Chicago area are going cardless under a new initiative from Wintrust Financial and FIS.
Nine banks in Poland are preparing to launch mobile payments services via host card emulation (HCE) technology early this year, according to Visa Europe.
The U.S. Supreme Court has scheduled a conference this Friday to determine whether it will grant certiorari and move forward with oral arguments in NACS v. Board of Governors of the Federal Reserve System, which pertains to debit interchange fees and network routing requirements.
The FDIC has issued guidance to promote consistency by insured depository institutions in identifying, accepting and reporting brokered deposits. The guidance, which is in the form of “frequently asked questions,” addresses prepaid cards.
Payment processor i2c Inc., and Melbourne, Australia-based program manager Corporate Prepaid Solutions (CPS) have launched the Visa-branded uChoose corporate rewards gift card in Australia, setting the stage for global collaboration on additional corporate prepaid programs.
Several major British banks reportedly are in negotiations with Apple to bring the tech giant’s Apple Pay service to the U.K. before the midway point of this year.
By facilitating payments, and clearing and settling transactions in the securities and derivatives markets, financial market infrastructures are essential nodes in a complex and ever more integrated international network of capital flows. The consequent inter-dependencies between financial market infrastructures will create new resiliency challenges
The NBPCA and the Electronic Transactions Association (ETA), the global trade association representing the payments technology industry, submitted a joint letter today requesting a 60-day extension to the comment period for the CFPB’s NPRM on prepaid.
The start of a New Year also brings a new EU law into effect that’s intended to stop companies from undercutting their competition by setting up in low-tax countries. However, the law also could increase the tax on purchases of digital content like mobile applications, music downloads and e-books.
Bookmark our 2014 year in review for easy reference as you make plans and set strategy for the New Year.
Drivers soon will be able to pay with Apple Pay when filling up at Chevron stations, now that the fuel chain has announced plans to integrate the contactless payment system into its pumps.
The payments industry has two dates quickly approaching regarding NPRMs and their respective comment periods, which already have begun.
With much of the holiday revelry come and gone, the payments industry must refocus on two important NPRMs and their respective comment periods, which already have begun.
Dublin-based 3V Transaction Services Ltd., which specializes in issuing, processing and management of prepaid card programs, will be the foundation of a new issuing division of SafeCharge, which acquired the technology provider for €14.5 million (US$17.4 million).
As you get back to business in 2015, bookmark this catalog of the biggest stories from the past 12 months as well as insights into the future of payments in the New Year.
This quick reference guide provides a snapshot of our interviews with the Movers and Shakers of 2014, including key insight into what’s ahead for payments in the New Year.
