Apple’s new iPhone 6 to be announced tomorrow is almost certain to shake things up in the fledgling mobile wallets ecosystem, with an NFC-based mobile wallet that will debut with the support of major retailers, payments networks and banks.
As another school year beings, a new prepaid card is helping ensure college students have a safe ride home after a night on the town.
Barclaycard, the global payments business of U.K.-based Barclays, announced today it’s acquiring The Logic Group, a U.K.-based payments and loyalty company.
The State Bank of India and MasterCard today launched a multi-currency travel card for business professionals, tourists and students traveling abroad.
With the penetration of mobile devices, such as smartphones and tablets constantly growing, attention is increasingly turning to mobile marketing, mobile commerce and mobile payments. It is still the case, however, that these trends are largely played out in specialised media, and do not influence the actual behaviour of consumers. This is especially true for mobile payments, with consumers very sceptical about this concept
Blackhawk Network has integrated its gifting platform with Google Wallet, enabling wallet users to manage and spend gift cards on their mobile devices.
Allpoint Network, an affiliate of Cardtronics Inc., and travel services company Thomas Cook of India have announced a partnership giving users of Thomas Cook India’s multicurrency Borderless Prepaid Card surcharge-free access to Allpoint’s network of more than 55,000 ATMs in the U.S., Canada, Mexico, U.K. and Australia.
Merchant Customer Exchange (MCX), the retailer-led mobile payments consortium formed in 2012, has unveiled the name of its new mobile payment network.
FIS has signed a definitive agreement to acquire Brussels-based payments specialist Clear2Pay for some €375 million, saying that the deal will bolster its global payments capabilities.
ABnote Custom Card Systems, a Dallas-based provider of turnkey solutions enabling financial institutions to offer instant issuance of Visa and MasterCard debit and credit cards, has appointed Jim Ellis CEO.
The CFPB has appointed Jim Van Dyke, CEO of Javelin Strategy & Research, to its 25-member Consumer Advisory Board (CAB).
Private equity firm Oak Investment Partners has named Anil Aggarwal and Jonathan Weiner advisors to its Oak HC/FT Fund, a health care and financial technology investment fund that closed a $500 million round of funding last June.
The SHAZAM Network, a Des Moines, Iowa-based debit network, has appointed Paul Waltz president.
TMG Financial Services (TMGFS), a Des Moines, Iowa-based payments solutions provider, has hired Jeff Oleson as marketing analyst, a new position designed to aid the company’s marketing strategy and data-driven marketing capabilities.
YapStone, a global provider of Web and mobile payment solutions, announced four senior hires.
Wave Crest Group Limited, a multi-currency digital payments platform provider, has named Lance Taschner vice president, products and business development, for the company’s U.S. operations.
Isis Wallet is now Softcard. The NFC-based mobile payment initiative backed by AT&T Mobility, Verizon Wireless and T-Mobile, was snakebit earlier this year when a jihadist militant group adopted the name Islamic State of Iraq and Syria and the acronym ISIS.
Payment technology supplier FIS will acquire Brussels-based payments processing technologies and services provider Clear2Pay, a company with a strong client base of top financial institutions in Western Europe, Asia Pacific and the Americas.
Home Depot may have become the latest high-profile retailer to fall victim to a customer data breach.
The startup behind three little letters that could be a very big deal in contactless payments.
Money launderers will increasingly move away from the US dollar to the renminbi as US authorities continue to crack down on international banks’ AML systems. The shift will have consequences for London’s aspirations to become a global centre for RMB clearing and settlement.
The increased globalisation of business has opened up new challenges – and opportunities – for companies and the banks that serve them. Corporate treasurers and finance professionals face complexities in the payments arena that range from inconsistencies in local payment processing to new regulations, emerging payment clearing systems and the need to manage geopolitical risk in an ever-expanding array of countries. To address these challenges for their clients, and for themselves, global banks need to invest and innovate to make sure they have the solutions to meet business needs today and in the future.
Corporates want easier connection to their financial institutions – is Swift the answer or do other options exist?
Apple Inc.’s next iPhone reportedly will include mobile wallet functionality—as has been rumored for some time.
It’s not emerging payments’ first rap video (that distinction probably goes to Mack Maine’s “All in One Swipe” for the Young Money card), but it’s probably the funniest and, let’s say, most irreverent. (Yes, it includes rap language, so be forewarned if you choose to view it.)
Visa Inc. has added top acquirers and e-commerce platform providers for its Visa Checkout service, expanding the service’s reach by nearly 4 million online merchants, according to the payments network.
U.K.-based Monitise and technology and consulting giant IBM have announced an alliance they say will improve IBM’s ability to deliver existing and future Monitise-based Mobile Money solutions to clients. The deal also will significantly increase Monitise’s ability to handle larger custom projects worldwide by combining the companies’ mobile banking, payments and e-commerce technology.
With the US consultation on introducing real-time payments announced earlier this year, debate on the subject ramped up considerably – but much of the debate is based on myths and misunderstandings, which means people are in danger of coming to the wrong conclusion, according to a report from Celent’s Gareth Lodge.
As delegates finalise their plans to attend Sibos in Boston this month, Chris Church, chief executive Americas and global head of securities at Swift, discusses what they can expect
Meta Payment Systems, a division of MetaBank, has entered into a multi-year agreement with UniRush LLC, to issue the RushCard Visa-branded GPR card.
Ready for the battle of the bank-branded digital wallets? New York-based Citi this week introduced Citi Wallet, to streamline online shopping for credit card customers.
More than 85 percent of approved checks sent over the Ingo Money platform, accounting for more than 90 percent of the platform’s total check value, now are funded to customer accounts and available to spend within minutes, according to Ingo Inc., the Georgia-based electronic funding specialist that operates Ingo Money.
Australian banks, retailers and other payments stakeholders have formed the Australian Payments Council to ensure the country’s payments system meets the needs of consumers and businesses by fostering development of innovative, secure and competitive payment services, according to an announcement.
Western Union has expanded its account-to-account money transfer service to cover Austria, Belgium, Germany, the Netherlands and the United Kingdom.
As payment card data security breaches become more common, financial institutions must step up to protect customer data, a new report says.
The CFPB has finalized its remittance transfer rule requiring remittance transfer providers to disclose certain third-party fees and any exchange rates applicable to the transfer.
India’s central bank now requires all card-not-present transactions for purchases within the country to be routed through a bank in India, with funds settled only in Indian currency.
Littleton, Colo.-based card producer CPI Card Group is acquiring EFT Source, a provider of card programs and personalization services for the financial payments industry.
Europe now represents 10% of total Renminbi payments in value worldwide and is leading adoption beyond Asian countries, with four European countries in the top 10, excluding China and Hong Kong, according to Swift. Overall, the RMB strengthened its position as the seventh most used global payments currency and accounted for 1.57% of global payments.
The merchant groups embroiled in a long-running legal battle over debit interchange fees have petitioned the U.S. Supreme Court to review the case on the grounds that the Federal Reserve improperly took into account certain costs incurred by card issuers when calculating debit interchange fee limits. However, the retailers have not challenged a separate rule governing the number of unaffiliated debit card networks that must be available for debit and prepaid card transactions, which is good news for card issuers because it gives much longed-for certainty around a challenging issue.
