Blog: Trends in Emerging Technologies
Younger users are setting the stage for a payments future of wearables and mobile. See what the latest consumer research from FIS reveals.
PayTech
Viewpoint: Citi Prepaid: Building on Success in the U.S. Corporate Prepaid Market
Success in the corporate prepaid card market requires providers to offer more than just cost savings and efficiency improvements. Successful providers must also present a compelling opportunity for corporates to enhance their offering and services.
Blog: 5 Payments Trends to Watch in 2015
The U.S. migration to EMV chip technology, developments in mobile and contactless payments in retail and transit, and a focus on layered payments security, were the headlining themes from the annual Smart Card Alliance Payments Summit.
Google Wallet Buys Softcard Tech/IP, Signs Distribution Deal with Wireless Carriers (Feb. 25, 2015)
Google Wallet is getting fresh horses in the mobile wallet race, where Apple Pay has the early lead.
Square Co-Founder: Pinpointing Shoppers’ In-Store Locations Will Transform Retail, Payments (Feb. 25, 2015)
Mobile payments technology is driving multiple types of innovations, but one of the most transformative likely will be location-based technologies that improve the shopping experience, according to Square’s co-founder Jim McKelvey.
APEX Panel: The Changing Shape of Personal Financial Services (Feb. 25, 2015)
With more than a quarter of U.S. households either unbanked or underbanked, there is a major opportunity in creating alternative financial products to serve that segment.
Deutsche Bank signs 10-year modernisation deal with HP
Deutsche Bank and Hewlett-Packard have announced a 10-year, multi-billion dollar agreement that will see parts of the bank’s global IT systems rationalised and migrated to HP platforms10
Visa Checkout to Reach 16 Countries This Year (Feb. 23, 2015)
Visa is expanding Visa Checkout, its secure online payment service, to reach a total of 16 countries this year, the company said last week.
Report: Google Wallet Hatching Makeover, Dangling Incentives for Carrier Support (Feb. 23, 2015)
Google Inc. is plotting another makeover for its 4-year-old Google Wallet, to be revealed in May at its annual I/O developer’s conference, according to a Feb. 20 report in the Wall Street Journal.
APS to Offer Banking Services through 11,500 Post Office Locations (Feb. 23, 2015)
Customers of Advanced Payment Solutions (APS), a London-based provider of alternative banking solutions, soon will be able to access banking serves through the U.K. Post Office’s 11,500 branches.
Samsung’s LoopPay Deal Buys Quick Path to Mobile Payments, Pressure for Apple Pay? (Feb. 19, 2015)
Samsung this week announced its purchase of mobile payments startup LoopPay, taking over its technology that enables magnetic stripe cards to be processed as contactless transactions at traditional payment terminals.
Judge Tosses Anti-Steering Rules, but Expert Says Door May Be Open for Appeal (Feb. 19, 2015)
A federal judge has ruled that American Express no longer may bar retailers from steering customers toward paying with cards with lower merchant fees.
Pay.gov Integrates PayPal, Dwolla with U.S. Gov’t Payments Portal (Feb. 19, 2015)
Pay.gov, the U.S. government’s online payments portal for 90 federal agencies, is expanding to embrace digital wallets, including PayPal and Dwolla, the U.S. Treasury announced this week.
Patent Hints at Coupons and Loyalty for Apple Pay; JetBlue Takes it to the Skies (Feb. 18, 2015)
Apple Inc. has filed a patent application indicating plans to add loyalty features to Apple Pay, introducing the option to redeem coupons and tickets via NFC, according to a new report.
Mitek Takes Mobile Deposit to SMBs (Feb. 18, 2015)
Mobile deposit capture (MDC) has gained tremendous ground with consumers looking for more convenient access to funds.
APEX Preview: How Washington Views Bells, Whistles and Horns
Prepaid may be a more expensive business to enter—as compliance costs increase and margins thin—but that doesn’t mean the entrepreneurialism and innovation that birthed the industry are finished. A panel at All Payments Expo in Las Vegas next week will explore what it takes to enter and succeed in the market amid unprecedented regulatory scrutiny and oversight.
Federal Gov’t to Support Apple Pay; MasterCard and Visa Beefing Up Security Efforts (Feb. 17, 2015)
The U.S. government is the latest to get behind Apple Pay as part of its commitment to encourage more secure payments technologies, the White House announced during its Summit on Cybersecurity and Consumer Protection at Stanford University on Feb. 13.
Ohio Lawmakers Reintroduce Bill to Add Congressional Oversight to CFPB (Feb. 17, 2015)
Lawmakers last week reintroduced a bill to add congressional oversight for the CFPB, which currently operates independently.
Cyberattack Hits 100 Banks, up to $1 Billion Stolen (Feb. 17, 2015)
Hackers may have made off with as much as $1 billion in a series of attacks on more than 100 banks and financial institutions in 30 nations.
Blockbuster Move: Green Dot Buys AccountNow, AchieveCard (Feb. 12, 2015)
Green Dot has acquired AccountNow and AchieveCard to expand its active cardholder base and distribution outside traditional retail, the company tells Paybefore.
Industry Veteran Creates CFPB NPRM Word Cloud
Wondering what the CFPB’s NPRM emphasizes?
Aite: 60% of U.S. POS Locations to Be EMV-Compliant by Year-End (Feb. 12, 2015)
About 60 percent of U.S. POS locations will accept EMV chip transactions by yearend, according to a recent Aite Group survey. The results suggest the push to upgrade terminals in advance of the October 2015 liability shift is “accelerating,” but serious gaps in awareness and planning still exist, especially among small and midsize merchants.
ICICI Bank Launches ‘Pockets’ Digital Wallet Targeting Youth (Feb. 12, 2015)
India’s second-largest bank ICICI Bank this week launched “Pockets,” a mobile wallet targeting younger consumers powered by a Visa prepaid card, enabling smartphone users to send and request funds, shop online and pay bills, whether or not they are an ICICI bank customer.
People on the Move: Stephen Rudner, Mark Westmoreland, Treliant Risk Advisors
Compliance advisory firm Treliant Risk Advisors has named Steve Rudner and Mark Westmoreland as principals of the firm.
People on the Move: Vasant Prabhu, Visa Inc.
Visa Inc. has announced the appointment of Vasant Prabhu as executive vice president and CFO.
Carl Williams, Planet Payment Inc.
Planet Payment Inc. announced that company president and CEO Carl Williams has been named chairman of its board of directors, effective immediately.
People on the Move: Mark Moore, Silicon Valley Bank
Mark Moore is now assistant general counsel for Silicon Valley Bank.
Companies on the Move: Meta Payment Systems Client Spotlight Awards
Meta Payment Systems, a division of MetaBank, has announced the recipients of its 2014 Client Spotlight Awards, honoring high-performing prepaid clients for the 2014 calendar year.
People on the Move: Pete Pouridis, Merchant Risk Council Board
The Merchant Risk Council (MRC), an association for professionals within ecommerce payments and fraud, announced that Pete Pouridis, vice president, loss prevention, The Neiman Marcus Group, has been appointed chairman of the MRC’s global board of directors.
People on the Move: Stefano Diemmi, Svyatoslav Garal, Alyson Grosshandler, goSwiff
Singapore-based goSwiff, a provider of mobile commerce, marketing and professional services, added three executives to its global team over the past several months.
People on the Move: Julia Cheney, Federal Reserve Bank of Philadelphia
The Federal Reserve Bank of Philadelphia has promoted Julia Cheney to assistant vice president and assistant director in the Payment Cards Center (PCC).
People on the Move: Linda Rossetti, W.net
The Women’s Network in Electronic Transactions (W.net), has announced that Linda Rossetti, founder and president of ISO Bluestone Payments LLC, has been elected its 2015 national president.
People on the Move: Scott Pearson, Ballard Spahr LLP
Attorney Scott Pearson has joined law firm Ballard Spahr LLP as a partner in the firm’s consumer financial services group, which defends financial institutions in class actions, government enforcement proceedings and other complex litigation.
People on the Move: Jay Shipowitz, Back on My Feet Board
Back on My Feet, a nonprofit organization that promotes the self-sufficiency of people experiencing homelessness by engaging them in running, has named Jay Shipowitz, CEO of ACE Cash Express, as the new chairman of its national board of directors.
Mozido Leaps into China with PayEase Acquisition (Feb. 10, 2015)
Mozido today announced it’s acquiring PayEase Corp., a Beijing-based payments gateway and processor with direct connections to 23 Chinese banks.
PayPal and Shell Enable Payment at the Pump Via Smartphone (Feb. 10, 2015)
PayPal and Shell are partnering to enable motorists in the U.K. to pay for gasoline at the pump via a smartphone app.
Amazon Adds Gift Cards to E-Commerce Portal (Feb. 10, 2015)
Amazon India’s Junglee e-commerce portal is now selling gift cards, the retail giant’s latest move in India, a market the company has described as a focal point for growth.
Payments Council picks Swift for SEPA Only services
The UK’s Payments Council has selected Swift to build the country’s new central infrastructure platform in preparation for the next phase of SEPA regulation in 2016, through the provision of an automated central infrastructure platform for collection and maintenance of UK-specific SEPA routing data.
U.K. Contactless Payments Triple; Amex Rolls out Contactless EMV Cards in U.S. (Feb. 9, 2015)
Contactless payments surged in popularity in the U.K. within the past year, with contactless card spending volume tripling to £2.32 billion (US$3.53 billion) from £653.4 million in 2013, while total contactless transactions rose more than 200 percent to 319.2 million in 2014 from 100.4 million a year earlier, the UK Cards Association announced last week.
Fed Exec Floats Idea for Government-Backed Virtual Currency (Feb. 9, 2015)
As bitcoin and other virtual currencies remain subject to heavy scrutiny—and proposed regulation—by various government agencies, a senior Federal Reserve researcher is raising the possibility of the government creating a virtual currency of its own.
