Electronic payments are growing fast in Nigeria, with the total volume of e-payments reaching a new high of N10.85 trillion (US$ 62.2 billion) in 2013, according to data from the country’s central bank.
Citi has launched a global mobile challenge that it says will help to inspire technology developers to reimagine mobile banking and payments. The bank plans to host a series of events in Miami, New York and Silicon Valley in November, after which finalists will get the chance to bring their product to market with help from Citi.
The U.S. Department of the Treasury’s Direct Express Debit MasterCard program now serves nearly one-quarter of the nation’s entire unbanked population, a recent cardholder survey confirms.
Did Canada’s Supreme Court just create a significant regulatory issue for the country’s prepaid issuers? According to at least one prominent Canadian attorney who’s following the court’s decisions, it appears quite possible—although more investigation is needed.
Last week’s initial public offering of Chinese e-commerce giant Alibaba Group exceeded even the outsized expectations of most observers, raising $25 billion and setting a new world record for an IPO.
After Home Depot confirmed earlier this month it was the victim of a customer data breach affecting shoppers at its U.S. and Canadian stores, the home improvement retailer confirmed late last week that as many as 56 million payment cards are at risk.
The U.S. Department of the Treasury’s Direct Express Debit MasterCard program now serves nearly one-quarter of the nation’s entire unbanked population, a recent cardholder survey confirms.
Russia’s Central Bank has revoked the licences of three banks as part of an effort to restore trust in the country’s banking system. The move comes as financial messaging network Swift stands defiant against a European Parliament resolution calling for the expulsion of Russia from the community.
BNP Paribas and SIX Payment Services are planning to target merchants in Belgium with a new payments partnership, which they say will offer competition on payment terminals and acquiring services for the first time.
Green Dot Corp. has entered an agreement to acquire Santa Barbara Tax Products Group (TPG), the largest consumer tax refund processor in the U.S., for $320 million.
Paybefore was invited to sit down with Buckley, who joined the payments network 15 months ago, during MasterCard Europe’s prepaid conference, which concluded yesterday in Budapest.
National Gift Card Corp. (NGC), a Crystal Lake, Ill.-based marketer and supplier of gift cards for use in loyalty, incentive and rewards programs, today announced it’s expanding operations, retail partners and customers to Europe.
Electronic banking provider Simple has added support for Apple’s Touch ID and Android wearable devices.
Kirk Kordeleski, president and CEO of Long Island, N.Y.-based Bethpage Federal Credit Union, has been appointed to the CO-OP Financial Services Board of Directors.
FirstView Financial, an Atlanta-based provider of financial, mobile and payment technology solutions, has appointed Jerry Uffner president and CEO.
MasterCard Advisors, the professional services arm of MasterCard, has appointed Pierre Burret head of delivery, quality and resource management for Europe, Asia Pacific, Middle East & Africa and Eric Schneider as region business lead for Asia Pacific.
MasterCard Worldwide has appointed Brett Adams group head, integrated processing solutions.
Mobetize Corp., a mobile commerce payment solutions provider, has appointed Eric Dumois vice president, product and compliance.
Skrill Group, provider of online payment technologies to merchants and consumers, has appointed Neil Ward group chief product and marketing officer.
TMG Financial Services, a Des Moines, Iowa-based payments solutions provider, has added six employees.
During Day Two of MasterCard Europe’s prepaid conference, Paybefore met with Antonia Stroeh, the payment network’s new head of prepaid product development for Europe.
InteliSpend Prepaid Solutions is bringing its MasterCard corporate and incentives prepaid products to Canada, the company has announced.
Apple and China UnionPay Co. have struck a deal to bring Apple Pay, the wallet app featured on the new NFC-enabled iPhone 6 and Apple Watch, to China.
Luxembourg-based telecom Millicom and Kalixa, a London-based payments service provider and 2014 Paybefore Awards Europe winner, have created a joint venture to develop a payments service provider to operate in Africa and Latin America.
The most effective strategy for retailers to thrive in an omnichannel age is to enroll customers for payment in their own mobile shopping apps.
Hong Kong has become the second jurisdiction to sign up to use Swift’s Market Infrastructure Resiliency Service to improve operation of its real-time gross settlement system.
A white paper released today at MasterCard Europe’s Prepaid Conference in Budapest asserts that financial institutions are not keeping up with consumer demand.
Starting next month, Softcard users will be able to pay for food at SUBWAY using their mobile phones, as the quick service restaurant announced today it will launch Softcard-branded NFC payment terminals at its 26,000-plus locations in the U.S.
Amazon is shutting down its WebPay P2P money transfer service next month, the online retail giant announced this week.
India’s RuPay national payments network is growing fast, bolstered by a government drive to expand banking services and move the country’s economy away from cash.
The digital era is changing your bank rapidly. Is your mobile testing & assurance practice ready? P Venkatesh, director of the product division, and Srivatsan TT, vice president of the solutions group, at Maveric Systems discuss the issues
Mobile financial services can play an important role among a large group of American consumers. That much the Network Branded Prepaid Card Association, the FTC and consumer organizations, including U.S. Public Interest Research Group and the Center for Digital Democracy, agree on.
Chinese online shopping and payments giant Alibaba Group is finding no shortage of investor interest ahead of its upcoming U.S. IPO, which reportedly is already three times oversubscribed.
Weve, the mobile payments joint venture from mobile operators Vodafone UK, Telefónica UK’s O2 and EE, has abandoned plans to develop its own mobile wallet product after the U.K.’s three largest mobile telecom providers failed to agree on how to run the wallet.
In a bid to build out its B2B incentives platform, Blackhawk Network has acquired CardLab Inc., a Dallas-based provider of customizable prepaid incentive and rewards cards.
Comerica Bank, the incumbent issuer of the U.S. Treasury Department’s Direct Express prepaid debit card program to distribute benefits to Social Security recipients, will continue in that role under a new five-year agreement, according to a blog post published today on the department’s Website.
Apple may have lined up the chief executives of Bank of America and JP Morgan Chase to laud the launch of Apple Pay, but reaction from the wider industry was more muted – disappointed, even.
Numerous payments providers, financial institutions and merchants have thrown their support behind Apple Inc.’s new Apple Pay service—and if the tidal wave of early backing is any indication, the Apple and iPhone brands already may have overcome one of the most vexing issues hindering mobile wallet adoption—lack of widespread support by stakeholders in the value chain.
Visa Inc. has launched Visa Token Service to provide more security for e-commerce transactions, including online and mobile, by replacing payment account information with a digital account number, or token, which can be stored safely by online merchants or on mobile devices.
Hoping to foster the next great ideas to promote financial inclusion for underserved consumers, American Express has begun accepting submissions for its Financial Innovation Lab, which provides researchers and practitioners from nonprofit organizations the opportunity to test their ideas on the American Express Serve prepaid account software platform.
