Viewpoint: What I’ve Learned about Prepaid and Velcro Pants
Year one as the head of prepaid for Discover has led to some interesting lessons, including the importance of thinking beyond practical boundaries to create unique, workable solutions.
PayTech
Blog: I Want My EMV
EMV chip card technology that helps block counterfeit card fraud at the POS is coming to the U.S., and last week I was one of the first on my block to experience it.
What next for the ATM?
Given that bank customers are unlikely to increase significantly their usage of ATMs and now that opportunities to deploy large numbers of additional dispensers are limited, what does the future hold for the ATM and where does its next phase of growth lie?
Viewpoint: 4AMLD and Its Impact on the Prepaid Industry in Europe
If proposed changes to simplified due diligence go through as drafted, it will drive out a whole section of the prepaid market from Europe.
Paybefore Reveals Best-in-Category Winners for European Awards in Spain
Paybefore today celebrated the winners in its 2014 Paybefore Awards Europe competition and revealed those selected as Best in Category at the All Payments Expo Europe in Marbella, Spain.
At APEX Europe: Mobile’s the Thing (May 19, 2014)
At the launch of the All Payments Expo Europe today in Marbella, Spain, speakers invariably turned to the topic of mobile, with strong emphasis on (and statistics to support) meeting the needs of merchants participating in mobile payments services and the consumers who use them.
MasterCard Bulks up Processing Muscle in India with ElectraCard Services Acquisition (May 19, 2014)
A little more than a month after announcing 40 percent prepaid growth in Asia-Pacific, Middle East and Africa, MasterCard is buying Pune, India-based prepaid processor ElectraCard Services Private Ltd.
Google Play Adds PayPal in Bid to Boost Sales (May 19, 2014)
While Google and PayPal are competitors in the mobile wallet space, the companies are cooperating on an initiative to enable Google Play purchases to be paid for with PayPal in 12 countries, including the U.S., Canada and Germany.
Apple Set to Take Bite out of Payments? (May 19, 2014)
Apple’s recent deal with China’s UnionPay on a pair of contactless payment initiatives may be a sign that the tech giant is ready to make a major move into NFC payments, including equipping the next generation of the iPhone with NFC technology.
Pay Magazine – Spring 2014
The Genius Issue: Ideas, Technology, People Remaking Reload Networks; 2014 Paybefore Awards: Innovation in 20+ Categories; What Keeps Regulators Awake at Night
CFPB’s Online Privacy Disclosure Option Promises Big Saving but May Fall Short for Prepaid Providers (May 15, 2014)
GPR and payroll providers may be eager to take advantage of what the CFPB estimates will be $17 million in annual saving across the financial services industry. The proposed rule, however, may not be a real option for prepaid providers.
EMV Preparation Continues with PULSE Deal, New EMV Industry Services (May 15, 2014)
More pieces of the U.S. EMV quilt were stitched together this week with announcements from PULSE, MasterCard, FIserv and CPI Card Group.
Isis Touts 600,000 Monthly Account Activations, as Pace Doubles (May 15, 2014)
Incentives may be working for Isis, which says consumers activated an average of 20,000 mobile wallets per day over the past 30 days. But activations don’t necessarily equal continued usage.
CARTES: For Mobile Wallets, Survival Means Adaptation (May 15, 2014)
“Winners” will be those platforms that are flexible enough to accommodate the breakneck pace of technological advancement.
RBI Pulls Back on Biometric POS Mandate, Launches Prepaid Cashout Pilot (May 15, 2014)
The central bank has pulled back on a mandate requiring new POS and ATM terminals to include biometric authentication. However, it’s also enabling prepaid providers, for the first time, to offer cashout at biometric terminals.
Swedbank begins Baltic ATM revamp
Swedish regional bank Swedbank is planning to roll out new ATM applications for 206 branches across the Baltic countries of Estonia, Latvia and Lithuania. The company will also upgrade more than 150 of its ATMs as part of a new multi-channel banking strategy.
CARTES Keynote: PayPal’s Gauthier on Omnichannel Opportunity (May 14, 2014)
It’s never been more important for merchants to find out what matters to consumers and figure out how to fulfill those needs, Patrick Gauthier, PayPal’s head of emerging services, told attendees at CARTES Secure Connexions America yesterday.
Vantiv Swallows Mercury Payment Systems in $1.65 Billion Deal (May 14, 2014)
Mercury Payment Systems Inc.’s IPO plans came to a screeching halt when Vantiv Inc. on May 12 announced a deal to acquire Mercury for $1.65 billion.
First Data: Spending Gains Momentum in April; Prepaid Dollar Volume Rises 6.9 Percent (May 13, 3014)
Same-store spending on credit, debit, EBT, closed-loop prepaid cards and checks, gained 4.1 percent in April over last year, and prepaid spending showed the highest dollar-volume increase at 6.9 percent compared with credit (4.3 percent) and signature and PIN debit (4.5 and 4.1, respectively). Check volume fell 2.7 percent.
StoreFinancial Lands Strategic Investment to Bring in Payments Veterans
Paybefore Award-winning processor and program manager StoreFinancial is adding two payments veterans to its management team and focusing on growing its corporate payments business after a material equity investment from a Kansas City-area private investor group.
Square Wallet Out, Square Order In as m-POS Pioneer Tweaks Strategy (May 13, 2014)
Square, no stranger to experimentation, this week surprised observers by pulling its Square Wallet from the Apple and Google stores three years after its launch and introducing an order-ahead app for cafes and restaurants.
Apple Adds EMV Features to its In-Store m-POS System (May 13, 2014)
Apple Inc. is joining the push to accommodate EMV cards in its stores with its EasyPay m-POS, which uses a special iPhone case made by VeriFone that employees may use for customer checkout.
FIS Taps Cloud for EMV Instant-Issue Service (May 12, 2014)
The U.S. may be one of the world’s last markets to migrate to EMV, but the cool new EMV tools available for issuers could be the silver lining to waiting so long.
In Money Transfer Push, Facebook Finds Plenty of Friends (May 12, 2014)
Facebook has already conquered the social media sphere—and now there are signs the company is seeking to capitalize on its global ubiquity and massive user base to make a splash as a money transfer service, recently partnering with financial service providers on transfer initiatives around the globe.
People on the Move: Nathalie Reinelt, Aite Group
Nathalie Reinelt has joined Aite Group as an analyst on the retail banking team.
People on the Move: Howard Green, Mark Olson and Dan Perez, Better ATM Services
Better ATM Services, a Mesa, Ariz.-based ATM technology provider, has announced changes to its leadership team.
People on the Move: Mark Woods and Kevin Beardsley, The Bitcoin Foundation
The Bitcoin Foundation, a nonprofit institution founded to promote bitcoin use, has appointed Mark Woods affiliate director, and Kevin Beardsley director of membership.
People on the Move: Christopher Foskett, First Data Corp.
First Data Corp., an Atlanta-based payments processor, has appointed Christopher Foskett head of global, strategic and national accounts.
People on the Move: Scott Salmon, i2c Inc.
i2c Inc., a provider of payment processing and emerging commerce solutions, announced that Scott Salmon has joined the company as general manager, international, to lead i2c’s continued growth in Asia-Pacific, Central Europe, Middle East and Africa.
People on the Move: Sarah McCrary, Leaf
Leaf, creator of a m-POS tablet, has appointed Sarah McCrary CEO.
People on the Move: Dan O’Malley, Mozido LLC
Mozido LLC, a startup that focuses on cloud-based, white-label mobile payments services for banks and merchants, has hired Dan O’Malley as executive vice president and chief operating officer.
People on the Move: Bob DeRodes, Target Corp.
Minneapolis-based retailer Target Corp. has hired Bob DeRodes as executive vice president and chief information officer.
People on the Move: James Lipham and Paul Todd, TSYS
TSYS, a Columbus, Ga.-based processor, has announced the retirement of James B. Lipham as senior executive vice president and chief financial officer effective June 30, 2014, and the TSYS board of directors appointment of Paul M. Todd to take over the role.
People on the Move: Kelly Kay, YapStone
YapStone, a Walnut Creek, Calif.-based provider of Web and mobile payment solutions, has appointed Kelly Kay president and chief operating officer.
Small financial institutions must face the mobile challenge
As contactless and mobile payment methods continue to grow, building societies and other financial institutions need to avoid being complacent about new technology, according to senior delegates speaking at the BSA annual conference in Manchester this week.
The value of SEPA beyond the SEPA-zone
The work corporates are doing to streamline cash management processes should not end with SEPA implementation, says. Indeed, the principles and ideas underpinning SEPA can inform progress even in the most challenging markets.
MasterCard Continues APMEA Prepaid Push with Japan Pact (May 8, 2014)
With the Asia-Pacific, Middle East and Africa (APMEA) region among MasterCard’s strongest prepaid growth markets, the payment network is launching a new prepaid card program in Japan that has the potential to reach 34 million customers.
Retailers Could See Higher Gift Cards Sales with Spring and Summer Festivities (May 8, 2014)
The spring and summer months boost gift card sales as consumers plan to buy them for a variety of occasions, including Mother’s Day on Sunday.
Report: Despite Debit Routing Thaw, EMV Ubiquity in U.S. Is Four Years out (May 8, 2014)
While the logjam over EMV debit routing may finally be breaking up, it remains unlikely that EMV will reach the mainstream ahead of the liability shifts the payment networks plan to implement in October 2015.
SEC Issues Bitcoin Warning (May 8, 2014)
Suggesting that investments in digital currencies, such as Bitcoin, might carry with them a higher risk of fraud and a harder time recovering losses in the event of fraud or theft, the SEC yesterday issued an investor alert regarding the decentralized P2P currency.
