Strong customer authentication and account monitoring are keys to preventing tax refund/benefits fraud on prepaid cards. By Loraine DeBonis, Editor-in-Chief As identity theft increases in the digital age, fraud perpetrated with stolen identities has risen dramatically. And, tax refunds have become a target for fraudsters. Tax-related identity theft jumped more than 650 percent between 2008 and […]
A new joint project between Spanish financial services project Next Bank Madrid and Swift’s Innotribe innovation wing aims to unleash the potential of Spanish, Portuguese and Latin American start-up companies in financial services.
Just days before Apple’s annual Worldwide Developers Conference, which runs all this week in San Francisco, the U.S. Patent and Trademark Office (USPTO) has granted Apple another patent that could be a signal of what the tech giant is planning for mobile payments. The patent relates to a “method and system for managing credits […]
Green Dot Corp. will benefit from its exempt status from debit interchange caps by becoming the issuer of one of the largest GPR programs on the market—the Walmart MoneyCard. Green Dot Bank, which also serves as the issuer for Green Dot’s GPR cards, replaces GE Capital Retail Bank, which is bowing out of the relationship […]
As the value of global cross-border payments such as workers’ remittances increases, billions of dollars are being lost to inefficient legacy systems – but that could be about to change, according to Hank Uberoi, executive director at Earthport.
Nationwide Building Society has brought in a new tool from ATM maker NCR designed to protect its customers against card-skimming, a type of fraud in which criminals steal customer data from ATMs.
During the opening keynote address at the Underbanked Financial Services Forum, which kicked off yesterday in Miami, CFSI President and CEO Jennifer Tescher suggested that conference attendees view themselves as being in the financial health business. Drawing heavily on analogies to the health care industry throughout her address, Tescher explained that the American psyche is […]
The organization that stood out from the crowd in 2012 to make a positive, game-changing difference in the prepaid/emerging payments environment in a geographic region or globally. Best in Category: Rêv Worldwide Launched low-cost mobile card reader targeting 400 million SMEs in 12 countries, along with Brazil’s first GPR card and Mexico’s first mobile banking/prepaid […]
The retailer that has used prepaid most effectively to increase sales, promote its brand and/or extend convenience to customers. Best in Category: Walmart Prepaid Card Program Jason Marshall and Sabrina Chin, Walmart Aggressively promotes broadest assortment of innovative prepaid products at everyday low prices through extensive merchandising in the most valuable space in the […]
In our final installment of winners coverage for the 2013 Paybefore Awards, you’ll find out how companies are innovating and expanding the boundaries of prepaid to solve problems, reach more consumers and change the industry for the better. Most Innovative Program Best Retail-Based Prepaid Card Program Expanding the Boundaries of Prepaid Outstanding Newcomer Breakout Company of […]
E-commerce is still PayPal’s bread and butter, but the company is making serious strides at brick-and-mortar stores.
In business more than 60 years, Minneapolis firm demonstrates the wisdom of smart growth and leveraging core competency to become a leader in innovative card printing.
Innovation in financial services is currently at a seven-year low, reflecting a period of cost-cutting and scaling back in the face of new financial regulation – but innovative new technologies such as mobile may provide a solution, according to law firm RPC.
An Interview with John Walsh, CEO, SightSpan Serving on a corporate board is a great honor and a great responsibility, especially for those involved in financial services organizations. Gone are the days when directors were management’s rubberstamp. And particularly since the global financial crisis of 2008, significantly more is expected of non-management corporate directors. Today’s […]
Heartland School Solutions, a division of Princeton, N.J.-based payments processor Heartland Payment Systems, has unveiled a new mobile app that enables parents of school-aged children to manage their kids’ lunch expenses via smartphone or tablet.
As competition heats up in the mobile merchant acceptance arena, payleven hopes to improve its odds of gaining international market share with a deal to sell its chip-and-PIN readers in Apple Inc. stores across Europe plus a new strategic alliance it’s formed with Germany-based Wirecard AG.
Swift’s Innotribe innovation project has chosen the 15 US semi-finalists for its start-up challenge, which aims to bring together innovative ideas in financial services and turn them into functioning businesses.
As the first deadline for implementation of the Single Euro Payments Area approaches in February 2014, you could be forgiven for thinking that it is pretty much all over – or at least will be by October 2016, when the second deadline arrives. Don’t count on it, cautions Ruth Wandhöfer, global head, regulatory & market strategy, Citi Transaction Services.
June 3, 2013 Mobile banking is on the rise, with 33 percent of consumers now using banking apps on a mobile phone or tablet device, according to a report by electronic payments association SWACHA. The organization’s newly released 2013 Consumer Insights Survey shows just how quickly mobile banking has grown; in 2011, just 20 percent […]
The latest figures from UK retailers show a significant move to debit cards and new mechanisms like PayPal as consumers shy away from cash and credit cards.
One in four customers in the UK is now using mobile banking services– and bank-driven systems are leading the way, according to new research by mobile payments specialist VocaLink.
