Congressman Steve Stivers (R-Ohio) stressed the importance of the prepaid card industry continuing its work of getting to know federal rulemakers and explaining to them the value the industry’s products provide to consumers, businesses and state and local governments.
More mobile wallet providers are pinning their hopes on host card emulation technology to facilitate NFC payments.
Chinese e-commerce giant Alibaba’s new U.S. retail portal eventually could present a challenge for some of the biggest names in the online shopping sector, including Amazon and eBay.
The Bancorp Bank, a wholly owned subsidiary of The Bancorp Inc., this week revealed in an 8K filing with the SEC that it’s stepping up its Bank Secrecy Act (BSA) compliance efforts in accordance with an FDIC consent order that went into effect June 5.
The Euro Banking Association has published results of research and assessment work on supply chain finance topics and alternative electronic payments, including recommendations on managing financial industry collaboration and partnerships.
Rather than spending time debating which option is worse for consumers—overdraft or payday loans—or focusing solely on reining in overdraft, we ought to shift our energies to creating new credit products that meet consumers’ needs transparently and affordably.
While asking a customer for multiple pieces of information and presenting him with various questions satisfies federal guidelines and other legal compliance, it can throw a major wrench in the prepaid card activation model. Out-of-wallet authentication must be accomplished in real time—and that means mobile.
The Consumer Financial Protection Bureau (CFPB) has bumped plans to release its proposed rule on prepaid cards to “the end of the summer,” according to Richard Cordray, the agency’s director.
As U.K. retailers move further into providing personal banking services, supermarket giant Tesco has launched its first-ever current account.
Less than a year after Amazon launched a one-click checkout feature for outside Web merchants, the online retail giant has unveiled a similar service for recurring and subscription-based payments.
Uber, the global service that connects drivers with riders, has integrated American Express’ membership reward points into its iOS app, giving consumers another way to use their mobile devices to pay with American Express.
The increasing risk of fraud, the rise of NFC, customer convenience and lower technology costs have combined to make the business case for EMV work for U.S. payment card issuers, according to a new report from Aite Group.
On the heels of its March acquisition of the moneto mobile payment platform from DeviceFidelity Inc., Minneapolis-based remote deposit capture specialist Cachet Financial Solutions announced it will be developing a prepaid mobile app for cardholders of FirstView, an Atlanta-based program manager and processor.
Banks are paying lip-service to the concept of customer service and are years behind on innovation – and unless they literally get their act together by collaboratively embracing open software libraries and sharing applications and data, they will not survive.
The rise of Bitcoin and other digital currencies could present new opportunities for serving the underbanked once acceptance becomes more widespread, and payment providers and investors are building an infrastructure to support such uses.
Despite some skepticism around the business case for prepaid issuers, in particular, to migrate to EMV in the U.S., another card targeting international travelers has made its debut.
Bitcoin recently took one step forward and one step back as one provider launched its first Bitcoin ATM in China, while another Bitcoin operator has been denied doing the same more than 4,700 miles away in Switzerland.
The Federal Reserve Bank of Philadelphia has promoted Michael Dotsey to senior vice president and director of research.
Ingo Money, an Atlanta-based technology and solutions provider, hired Dickson Chu as executive vice president, corporate development and chief product officer.
Mercator Advisory Group has appointed Tim Sloane vice president of payments innovation, and promoted Ben Jackson, formerly senior analyst, to director of the Prepaid Advisory Service.
Monitise plc has announced a series of updates to its executive leadership team and board of directors, including the appointment of Elizabeth Buse to co-CEO of Monitise Group.
In addition to being the 2014 Paybefore Awards Europe winner in the Consumer Champion category, paysafecard.com Wertkarten AG, which is part of the Skrill Group, also has been included in The New Economy’s list of top 40 most innovative companies in the world.
Des Moines, Iowa-based payments processor The Members Group and its sister company and credit card agent issuer TMG Financial Services received recognition from the Iowa Chapter of the American Marketing Association, both earning multiple NOVA Awards for excellence in marketing campaigns.
TSYS, a Columbus, Ga.-based processor, has named Walter Taylor group executive, chief procurement officer.
New financial management tools for American Express Serve and Bluebird GPR prepaid cards announced today likely will strike a chord with cardholders—many of which already are displaying positive financial behavior, according to the payments network.
With the Center for Financial Services Innovation ringing in its 10th anniversary this year, CFSI President and CEO Jennifer Tescher took a short walk down memory lane—but kept a sharp focus on the road ahead—in her keynote address yesterday at EMERGE: The Forum on Consumer Financial Services Innovation.
A rare chance to trim back certain redundant financial regulations that seem to spread like ivy has arrived.
Reporting on the management of intraday liquidity risk will start on a monthly basis from 1 January 2015 to coincide with the implementation of the liquidity coverage ratio reporting requirements. Christian Goerlach of Deutsche Bank, takes a closer look at some of the issues facing global banks.
An question that continues to be asked is will the increased adoption of ISO 20022 facilitate the consolidation of payments clearing utilities and see the introduction of new services for customers? This suggests that despite the fact that ISO 20022 has been around for more than decade, confusion still exists over what it is.
Turkey’s largest investment bank Aktif has begun using international payment services from specialist Earthport, in a move the bank says will help its corporate and retail customers to get a better deal on their cross-border payments.
Standard Chartered Bank and Singaporean incumbent telecoms operator SingTel have launched a new mobile money service called Dash, in which customers can move money onto their mobile device and then use it to make payments without ever coming into a bank branch.
Visa isn’t waiting for regulators to help simplify prepaid products for consumers.
There may be one more round to go in the dispute between merchants and the Federal Reserve over interchange fees and debit routing requirements.
As speculation mounts around Apple’s plans for mobile payments and the tremors the company could create among mobile wallet providers, Apple might be prepping to launch its own digital currency.
More than six months into his new gig, CashStar’s CEO explains why the biggest potential for digital gift cards may lie in promotions, loyalty and customer service.
We have the opportunity to make a difference, to be part of the process and to influence the outcome of prepaid regulations.
Citi has chosen the ‘headliner’ finalists for its mobile innovation competition in Latin America, the Mobile Challenge LatAm 2014, which aims to bring together individuals and companies with innovative ideas to create applications for Citi’s Latin America mobile banking platform.
Payments startups looking to get off the ground in the U.K. soon could gain support from a somewhat unexpected source: regulators.
Building on its experiences from the rollout of the South African Social Security Agency initiative in 2012, which provides millions of South Africans a secure way to receive social grants, MasterCard has announced the launch of a similar program in Pakistan.
While recent reports are showing a decline in cash transactions, convenience store and gas station owners can increase customer loyalty, foot traffic and sales by installing an ATM, according to a survey of consumer habits in the U.K.
