Viewpoint: Important Changes to Canada’s AML Laws: Here We Go Again
A new Canadian bill proposes regulations on virtual currencies, cross-border MSBs, due diligence requirements, politically exposed persons and group-wide information sharing.
A new Canadian bill proposes regulations on virtual currencies, cross-border MSBs, due diligence requirements, politically exposed persons and group-wide information sharing.
Facebook is putting the pieces in place to launch a money transfer service in Europe.
The Illinois House last week approved legislation that, if signed into law, might affect companies’ payroll card programs, beginning Jan. 1, 2015, when the new rules would take effect.
Payments processor Heartland Payment Systems has acquired MCS Software, a provider of school foodservice payment solutions at 4,000 K-12 schools across the U.S.
Nadia Dombrowski has joined the payments practice at Davis Wright Tremaine LLP as a partner in the firm’s New York office.
Payments industry consulting firm Double Diamond Group LLC has hired Rick Oglesby as senior research analyst and consultant of the recently launched Double Diamond Payments Research, a research division focusing on merchant acceptance trends and analysis.
eBay Inc. has announced the appointment of David Dorman as an independent director to the company’s board of directors.
First Data Corp., an Atlanta-based payments processor, has appointed Michael Manos as chief technology officer, responsible for First Data’s global technology infrastructure.
Heartland Payment Systems, a Princeton, N.J.-based merchant processor, has hired Samir Zabaneh as chief financial officer.
JetPay Payment Services, a division of JetPay Corp., has appointed Nancy Ann Barnhart chief information officer.
Optimal Payments, a London-based online payments and risk management provider, announced that President and CEO Joel Leonoff was named CEO of the year at the U.K. Stock Market Awards 2014 last month.
R&P Group, a Sioux Falls, S.D.-based payments industry recruiting firm, announced that Corbin Simon has earned the Top Producer Award (first quarter 2014) for the Sioux Falls area, from the U.S. Recruiting Network.
Bitcoin is the poster child of the cryptocurrency world, but it’s not alone. Michael Mainelli and Bob McDowell take a look at the real-world implications of the rise of AltCoins
Swift’s Innotribe innovation spin-out has named the European semi-finalists for its 2014 Startup Challenge, which seeks to find the most innovative start-up companies in financial services.
eBay Inc. investor Carl Icahn has backed off his proposal for the online auction Website to spin off its PayPal subsidiary following discussions with eBay, of which he is a 2 percent owner.
FIS wants to help banks in the pursuit of the coveted millennial consumer by focusing heavily on mobile banking.
Contactless payments are spreading rapidly throughout Europe, according to new data from MasterCard.
Despite a somewhat bumpy rollout and several course-corrections, Google Wallet is here to stay, said the head of the tech giant’s payment division.
More federal regulations may be on the way for digital currencies after U.S. Attorney General Eric Holder told lawmakers of his concerns about Bitcoin and other digital currencies as potential tools for criminals.
Prepaid card sales at retail are on the rise, driven by the combined efforts of prepaid providers, processors, networks and merchants, according to a new report by Aite Group.
M&A activity is on the rise in the payments industry, and the latest deal is in the card manufacturing and fulfillment space.
As tax day approaches, the Louisiana House of Representatives yesterday approved a bill that would end the state’s Department of Revenue practice of automatically sending tax refunds on prepaid debit cards to taxpayers who don’t select a specific method for receiving their funds.
Virtual payment cards continue to gain ground in the B2B sector, with Bank of America Merrill Lynch announcing its ePayables electronic accounts payables platform has surpassed 100,000 enrolled corporate suppliers—nearly doubling from 56,000 enrolled suppliers two years ago.
Payments providers of every stripe are seeking ways to increase customer loyalty. Austria-based paysafecard, which offers one-time use e-vouchers, now is rewarding customers who opt to use its online payments account, my paysafecard.
Often lost amid the regulatory and legal controversy surrounding Bitcoin and other digital payments is a somewhat more practical issue; it’s just hard to spend the stuff in the real, offline world.
The Royal Bank of Scotland has launched a new service that lets corporates manage up to 18 local Chinese bank accounts through a single global electronic banking platform.
Microsoft tomorrow will issue the final security update for Windows XP, a 12-year-old product the software giant says no longer suits the risks of today’s computing environments. But millions of computers worldwide are still running XP, including an estimated 95 percent of U.S. ATMs, experts say.
The Canadian government has proposed a series of amendments to the country’s money laundering legislation, including provisions to extend the laws to cover digital currencies.
Payments are in the midst of some fundamental changes that will continually reshape the industry landscape for years to come, according to a new white paper from Vantiv Inc., outlining the top 10 payment trends to watch in 2014.
A majority of Americans view the features of reloadable prepaid cards favorably as financial institutions’ fees for checking account overdrafts have started to creep up, according to two recently released surveys.
Managing cash in stores remains a major challenge for retailers – trapped cash hinders working capital management and is unavailable for investment, debt repayment or business expansion. But new ways are being developed to manage store cash …
When the US Federal Reserve Banks asked for comments on improving the US payments system, the tech industry and merchants said “let’s go” while the incumbents said “whoa, not so fast” …
Banks must take note of the way that technology is changing how customers interact with the world around them and develop products and services that address their needs rather than the banks’.
Banks should be wary of jumping the gun and assuming that SEPA implementation is a done deal. Far from being over, the task of learning to live with SEPA is just beginning.
European Parliament today voted in a plenary session to accept the text of the revised payment industry regulations (PSD2 and MIF) that the ECON committee voted on last month.
MasterCard’s prepaid business is booming in Asia-Pacific, the Middle East and Africa (APMEA), showing 40 percent growth in gross dollar volume in the regions for 2013, the payment network said today.
Corporate payments provider Comdata Inc. is set to go public.
Program manager DCR Strategies Inc./TruCash and technology provider Carta Worldwide soon will be launching payment solutions, such as NFC mobile payments, virtual prepaid and integrated loyalty programs, using conventional payment methods and host card emulation (HCE), which emulates an NFC card in the cloud.
Building on previous consultations by Her Majesty’s Treasury and the Office of Fair Trading, the Financial Conduct Authority (FCA) is soliciting comment regarding the U.K. payments industry, in particular on issues of competition, access, governance, ownership and innovation.
With a revolution in consumer payments happening at the point-of-sale, online and increasingly through the mobile channel, there is a need and an appetite for change across every aspect of the payments industry.