To kick off 2014, we asked payments industry thought leaders in the U.S. and Europe to reflect on the year that turned out not to be the “Year of NFC” and to look ahead at what will dominate prepaid and emerging payments for the next 12 months. We also asked them what the industry’s New Year’s resolutions should be.
Industry thought leaders weigh in on priorities for 2014.
HSBC has rolled out a service that will allow online retailers to give customers the choice to pay in various international currencies.
Japan’s evolving payments industry offers an opportunity for financial institutions and card issuers to capitalise on mobile technology and card schemes, according to a new report by analyst firm Celent.
Swift has created a dedicated Financial Compliance Services unit to manage a growing number of service offerings. The new unit will focus initially on the development of a Know Your Customer Registry planned for launch later this year as well as the integration and development of existing services.
The U.S. Senate on Monday confirmed Janet Yellen as chairman of the Federal Reserve, succeeding Ben Bernanke, whose term expires Jan. 31, after eight years in that post.
Mobile payments via smartphones and tablets are set to surge over the next few years, reaching $707 billion worldwide in 2018, according to a new report by Juniper Research.
The European Payments Council (EPC), which represents the European banking industry in relation to payments, and the Cards Stakeholders Group (CSG), which represents retailers, vendors, processors, card schemes and the EPC, have published the latest version of the Single Euro Payments Area (SEPA) Cards Standardisation Volume.
When he can’t sleep at 2 a.m., Mark Schatz, managing director of Stored Value Solutions, will get up and run eight miles. Akin to a phoenix, running invokes renewed clarity that supports his mission in managing one of the companies that gave birth to the closed-loop gift card industry.
Zynga Inc., the maker of popular social media games like FarmVille, has announced it will begin accepting Bitcoin as payment for in-game virtual goods.
The uptake of mobile banking in India has been hampered by a lack of cooperation between banks and telecoms, among other issues, according to a report by the Reserve Bank of India.
Mobile payments tech company Spindle Inc. today announced it’s closed a deal to buy Yowza!!, a Los Angeles-based mobile couponing platform, adding some scale to Spindle’s service.
Law firm Bryan Cave LLP has named Therese D. Pritchard the next chair of the firm, beginning Oct. 1, 2014, following a planned transition period.
Sandra Braunstein, director of the division of consumer and community affairs, will retire April 1, 2014, after nearly 27 years with the Federal Reserve Board, including 10 years as the director of the division.
Fiserv Inc., a Brookfield, Wis.-based financial services technology provider, recently announced that Mobiliti from Fiserv received the highest score for a customizable solution in the Javelin Strategy & Research 2013-2014 Mobile Banking Vendor Scorecard.
Mozido LLC, a startup that focuses on cloud-based, white-label mobile payments services for banks and merchants, announced that Ric Duques has been named the company’s chairman of the board.
The NFC Forum, a nonprofit industry association that advances the use of near field communication technology, has announced two newly elected vice chairmen of its board of directors, Trevor Pavey of Broadcom Corp., and Alexander Rensink of NXP Semiconductors.
National Gift Card Corp.—an Elgin, Ill.-based marketer and supplier of gift cards for use in loyalty, incentive and rewards programs—has named Lizz Wheeler vice president of business development.
Law firm Stinson Leonard Street LLP officially launched, completing a merger between Stinson Morrison Hecker and Leonard, Street and Deinard that was initially announced Sept. 23, 2013.
TSYS, a Columbus, Ga.-based processor, has been recognized as one of America’s most community-minded companies in The Civic 50, an annual initiative that identifies and recognizes companies for their commitment to improve the quality of life in the communities where they do business.
WEX Inc., a provider of corporate payment solutions, has named Melissa D. Smith CEO.
Starbucks Corp. is introducing its gift cards in China, the company announced today, as it begins a significant expansion of its stores in the burgeoning gift card market.
The National Retail Federation formally has appealed a $5.7 billion settlement with MasterCard and Visa over credit card interchange fees, opening the next phase of a long-running legal dispute between merchants and the payment card networks.
Several of India’s largest Bitcoin exchanges have shuttered after the country’s central bank issued a statement last week warning of the risks of virtual currencies.
As the fallout continues from a data breach at Target retail stores that may have exposed millions of shoppers’ financial information, politicians and business groups are lobbying lawmakers to investigate the matter and crack down on security weaknesses that could lead to similar incidents.
Could 2014 bring a wave of m-POS consolidation? That trend springs to mind as details emerge about the sale of m-POS startup GoPago, a rising star launched in 2009 that secured a $25 million investment from JPMorgan Chase & Co. less than a year ago.
The European Central Bank has created a new board, replacing the Single Euro Payments Area (SEPA) Council, the ECB says will encourage development of an “integrated, innovative and competitive market” for retail payments in euro currency in the European Union.
Pakistani Bank Alfalah has teamed up with operator Warid Telecom to launch a mobile money service. The service, Mobile Paisa, will initially enable users to make utility bill payments and secure money transfers across Pakistan.
Now that you’re back in the office and once again glued to your computer screen, you’ll continue receiving the industry news, insights and analysis you’ve come to expect from Paybefore. But it won’t exactly be business as usual for Paybefore this year.
Most folks this week are concentrating on tracking down last-second gifts or holiday dinner menu items. Not U.S. Sen. Robert Menendez (D-N.J.). He is, again, looking to “rein in hidden fees and strengthen financial protections offered by prepaid card companies” with new legislation announced today.
The European Central Bank is to create a Euro Retail Payments Board to replace the Single Euro Payments Area Council and “help foster the development of an integrated, innovative and competitive market for retail payments in euro in the European Union”.
Five international banks are to become direct participants in the UK’s CHAPS high-value payments system as part of the Bank of England’s efforts to reduce systemic risk.
PayPal’s acquisition this week of StackMob, which provides a mobile payments development platform, is the latest in a series of deals bringing in top talent and new technology to enhance payment options PayPal offers to its diverse array of customers.
Gift cards are a hot item on millennials’ wishlists this year.
Reinforcing Bitcoin’s reputation for volatility, the value of the digital currency nosedived more than 35 percent Wednesday following word that BTC China, one of the country’s largest Bitcoin exchanges, was forced to stop accepting deposits in the Chinese currency renminbi.
A breach of data that may have exposed the financial information of 40 million shoppers at Target stores highlights the urgency of bolstering payment card security measures and adopting EMV chip technology, according to industry observers.
Bank of America Merrill Lynch has signed a multi-year agreement with Earthport to “significantly expand Bank of America Merrill Lynch’s low value clearing capabilities globally, and to advance the efficiency of its high volume, low value payments”.
To attract the key millennial demographic, banks must look to prepaid and mobile.
Of any industry, the financial services sector might be the most contradictory when it comes to loyalty program effectiveness.
The impact of the Single Euro Payments Area will result in a new marketplace where bigger banks will be forced into stronger competition and smaller banks forced to cultivate their ‘local bank’ credentials.
