Optimal Payments launches e-commerce acceptance service for merchants
Online payments provider Optimal Payments has launched a new online checkout page, designed to help e-commerce merchants with indemnified alternative payments.
PayTech
MasterCard Exec at CARTES: EMV Migration + NFC Handsets = Innovation Explosion (Nov. 5, 2014)
The U.S. EMV migration couldn’t come at a better time, according to executives discussing chip cards on a panel at CARTES in Paris.
First Data Adds to Clover Family with Mobile POS Device (Nov. 5, 2014)
First Data Corp. is testing Clover Mobile, a hand-held mobile POS device, enabling small to midsize businesses to provide quicker service and sales, as well as improved customer engagement, by taking the POS terminal off the counter and bringing it to the consumer.
Money20/20: Biometrics Gets Apple Pay Boost; Is Cloud Storage Next? (Nov. 5, 2014)
Apple Pay’s potential to change the game for NFC payments has been one of the dominant themes at the Money20/20 conference in Las Vegas this week. But the service—which uses the iPhone’s TouchID fingerprint sensor to validate users—also represents a major milestone for biometric authentication.
Diebold unveils concept banking “experience” at Money20/20
ATM maker Diebold has unveiled a new concept banking platform with four “experience zones” at the Money2020 conference in Las Vegas. The concept aims to demonstrate how banks can combine convenience, security and self-service with a low cost ‘footprint’.
Brett King preaches the “good news” of mobile banking
Banks need to stop trying to exploit customers and start actually helping people, according to Brett King, chief executive at Moven. Instead of getting people to max out their credit card, a progressive bank should use smartphones and Big Data to help the consumer with the little things.
Money 20/20: Visa’s McInerney on Personalizing the Buying Experience with Mobile (Nov. 4, 2014)
When one thinks of cutting-edge mobile commerce, a butcher shop in the 1980s isn’t likely the first image that comes to mind. But that was the connection made by Visa Inc. President Ryan McInerney, to illustrate what he views as one of the key ways in which mobile has the power to transform commerce—namely, by bringing personalization back to the shopping experience.
Apple Pay a Hot Topic at CARTES (Nov. 4, 2014)
Apple Pay’s rollout was a top theme for payments executives speaking today during the kickoff conference session of CARTES in Paris.
Visa QIWI Wallet Added to eBay Payment Methods in Russia (Nov. 4, 2014)
Beginning this week, Russian customers of eBay Inc. will be able to pay for their purchases with Visa QIWI Wallet, the result of a partnership between the online auction Website and QIWI plc, a provider of payment services in Russia.
i2c, Shift Payments Offer Card for ‘Cryptocurrency Adopters, Loyalty Points Junkies, Underbanked’ (Nov. 4, 2014)
Payment processor i2c Inc., is providing the payment processing infrastructure behind a payments card geared for everyone from “cryptocurrency adopters and loyalty points junkies to the underbanked.”
Ubiquity Global Services Expanding to Portugal (Nov. 4, 2014)
True to its name, Ubiquity Global Services, a New York-based financial services and payments service company, is becoming more ubiquitous globally.
UniRush Using Enacomm Biometric Tech to Protect Cardholders (Nov. 4, 2014)
Biometrics have been getting a lot of attention as a means of payments authentication, but UniRush LLC wants to use the technology to bolster security and improve the customer self-service experience for its cardholders.
MasterCard and Visa Drop Interchange Rates in Canada (Nov. 4, 2014)
MasterCard Canada and Visa Canada are reducing interchange fees to an average net effective 1.5 percent rate for the next five years for consumer credit cards.
Case study: Exporting payments excellence
The Singapore challenge Singapore is an advanced economy that employs a variety of clearing and settlement systems. It needed to transform its payments infrastructure to offer instant interbank transfers. The core technology VocaLink could deliver a practical solution, Immediate Payments (IPS), and also offer practical support during the implementation and beyond. BCS could embed IPS […]
Earthport opens low-value payment route to China
Cross-border low-value payments service provider Earthport, has opened a new payment route into China to support trade payments into the region.
Ripple protocol integrated into risk management system from Yantra
Yantra Financial Technologies, an electronic payment systems developer, has integrated its latest system for risk scoring of payments with the Ripple real-time settlement protocol. The integration means that institutions using the Ripple protocol can analyse transactions in seconds, including what other payments the customer recently made and potential concerns regarding a specific transaction. Risk levels can be assigned to certain transactions based on pre-determined criteria.
Prepaid Accounts Topic of Next Week’s CFPB Hearing (Nov. 3, 2014)
After a somewhat vague notice of its next field hearing, the CFPB updated its blog to specify that “prepaid accounts” will be the topic of the hearing, scheduled for 11 a.m. EST, Thursday, Nov. 13, in Wilmington, Del.—an exact location has not been given.
Money20/20 Keynote: Lawsky Floats ‘Transitional’ BitLicense for Startups (Nov. 3, 2014)
During a Money20/20 keynote, New York State Superintendent of Financial Services Benjamin M. Lawsky raised the possibility of a new addition in the proposed rules; licensing specially designed for virtual currency startups.
CPI Card Group Enables Banks to Participate in Any Wallet; Launches EMV Prepaid Card in Canada (Nov. 3, 2014)
CPI Card Group launches a mobile platform that enables NFC payments using the secure element or host card emulation. The Littleton, Colo.-based card manufacturer also announced its first EMV prepaid cards in Canada.
U.K. Consumers Prefer Buying, Giving Physical Gift Cards (Nov. 3, 2014)
As more aspects of life leave the physical world and enter the digital one, the majority of U.K. consumers still prefer buying and giving physical gift cards, rather than buying and sending them electronically, according to a recent survey by global gift card provider and program manager Stored Value Solutions (SVS).
Softcard Users Can Pay at McDonald’s Restaurant, Drive-Thru (Nov. 3, 2014)
Softcard announced a deal with QSR giant McDonald’s that adds 14,000 more U.S. locations to the mobile wallet’s acceptance network.
The Network Effect: Ingo Money Acquires Fuze
Ingo Money, known for its mobile check deposit capture technology and Good Funds Network, is planning to acquire Fuze Network, a payments technology company that enables loads to more than 1 billion bank-issued cards at thousands of retail locations.
CFPB Field Hearing Announced: Is the GPR NPRM on Its Way? (Oct. 30, 2014)
Yesterday the CFPB posted on its Website the announcement of its next field hearing, 11 a.m. EST, Thursday, Nov. 13, in Wilmington, Del.
MCX CEO Addresses Hack, Rumors and Competition (Oct. 30, 2014)
It’s been a rough week for Merchant Customer Exchange (MCX), the retailer-led mobile payments consortium.
Study: Rate of Un/Underbanked U.S. Households Still Hovers around 28% (Oct. 30, 2014)
While more than a quarter of American households still were either unbanked or underbanked last year, as was the case in 2011, the proportion of unbanked households declined to 7.7 percent or 9.6 million households, compared with 8.2 percent in 2011, according to the latest report from the FDIC.
Ubiquity Supports RushCard with Dispute, Chargeback Services (Oct. 30, 2014)
Ubiquity Global Services, a New York-based financial services and payments service company, will be the sole provider of dispute and chargeback services to UniRush LLC.
People on the Move: Paul Boemer, 1to1 Card
1to1 Card, a Chicago-based prepaid card program manager, announced that Paul Boemer has joined the company as chief strategy officer.
People on the Move: Arthur Levitt, BitPay and Vaurum
Bitcoin payment processor BitPay and Bitcoin exchange Vaurum announced that Arthur Levitt, former chairman of the U.S. Securities and Exchange Commission (SEC), will serve as adviser to both enterprises.
People on the Move: Tom Ochoa, CardCash.com
CardCash.com, a Brick, N.J.-based marketplace for secondary gift cards, has hired Tom Ochoa as senior vice president of business development.
People on the Move: Safdar Khan, MasterCard
MasterCard has appointed Safdar Khan to lead its growing Islamic payments business in Southeast Asia, and he will be promoted to the role of group country manager for Indonesia, Malaysia and Brunei.
People on the Move: Elizabeth ‘Betty’ Hoople, Meta Financial Group Inc. Board of Directors
Meta Financial Group Inc. announced that Elizabeth G. “Betty” Hoople has joined the company’s board of directors.
People on the Move: Marion King, RBS
Royal Bank of Scotland (RBS) has hired Marion King as director of payments. She will begin her role with the Edinburgh-based company in early 2015.
People on the Move: David Sear, Skrill Group
Skrill Group, provider of online payment technologies to merchants and consumers, has announced that David Sear will become CEO, effective Jan. 1, 2015.
People on the Move: Robin Caddell, Cassandra Pudenz and Alexandra Guzik, TMG Financial Services
TMG Financial Services, a Des Moines, Iowa-based payments solutions provider, has announced the promotion of one employee and the addition of two others to the team.
Blog: One Apple Pay User Takes a Bite
Those of us immersed in payments may have a unique perspective on Apple Pay, but what about other folks? I asked one self-proclaimed Apple “fan boy” to give the mobile wallet a test drive.
Blog: Unlocking the Real Value of Mobile Payments
Giving consumers what they really need and want from mobile payments will require making payments as invisible as possible.
Blog: India’s E-Commerce Boom Paves Way for Digital Money
India is on the brink of a huge economic transformation and making money digital is a crucial part of the solution.
MCX Speaks Out: Confirms Exclusivity, Defends Data Security, Privacy (Oct. 29, 2014)
MCX sets the record straight on CurrentC, including exclusivity and data security, following Rite Aid-CVS/pharmacy showdown with Apple Pay.
Apple Pay Passes 1 Million Mark in 72 Hours, Plans ahead for China (Oct. 28, 2014)
More than 1 million credit cards were activated within the first three days of the Apply Pay mobile wallet’s Oct. 20 debut, Apple CEO Tim Cook told attendees at the WSJD Live Global Technology Conference this week.
NRF: Holiday Sales to Jump 4.1 Percent; Consumers Clamor for Gift Cards, Uneasy with Paying by Phone (Oct. 28, 2014)
Retail holiday spending in the U.S. is expected to jump 4.1 percent to $616.9 billion in 2014, marking the first increase of more than 4 percent since 2011.
