March 21, 2013 For mobile wallet providers, reaching scale with consumers and merchants has proved to be the 800-pound gorilla. However, Heartland Payment Systems, the Princeton, N.J.-based merchant processor, and LevelUp, a promotion-based mobile payment and loyalty network from Boston-based SCVNGR, believe their partnership will solve the problem. Following pilot programs in New York City, Boston, […]
The Illinois Department of Financial & Professional Regulation recently released five cease and desist orders from January 2013 against six entities for unlicensed activities under the state’s Transmitters of Money Act. These six entities offer a variety of services in Illinois, including domestic and international money transfer, bill payment services and prepaid cards. One of […]
The Federal Reserve Board (Fed) quietly released changes to its FAQs on Reg. II’s restrictions on debit card interchange fees and routing. Five new FAQs were added and one existing FAQ was revised. Changes in two areas directly affect prepaid cards: the exemption for “general use prepaid cards” and the requirement for adding a second […]
March 19, 2013 The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has issued clarification of its regulatory stance on persons and entities engaged in the use, exchange and administration of virtual currencies. According to a guidance notice issued by FinCEN this week, users of virtual currencies, such as Bitcoin and Amazon Coins are not considered […]
March 19, 2013 International payment processor Planet Payment Inc. has joined with China UnionPay to enable UnionPay card users to shop online at e-commerce merchants based in the U.S. and Canada. The deal grants such retailers access to one of the largest card brands in the world, while continuing UnionPay’s recent efforts to expand acceptance […]
March 19, 2013 The key to widespread adoption of mobile payments will be the degree to which consumers trust the process of using smartphones or other mobile devices to pay, according to new survey data from Auriemma Consulting Group (ACG). In a Web survey conducted in December 2012 of 1,000 consumers in the U.K., where […]
March 19, 2013 Billtrust today has launched QR codes for biller statements, a service enabling consumers and businesses to pay their bills online by scanning the QR code with their smartphones. The Hamilton, N.J.-based provider of outsourced billing services can imprint a QR code on any outbound billing document, according to the company. When the […]
Technology and information companies CGI and Experian have partnered to help Europe’s banks and corporates meet the requirements of SEPA, the Single Euro Payments Area, on direct debits.
March 18, 2013 Another prepaid veteran is going public. Blackhawk Network Holdings Inc. filed for an initial public offering today, planning to raise up to $200 million in stock to be sold by existing investors, including its parent company, Safeway Inc. The Pleasanton, Calif.-based prepaid card provider and third-party distributor, founded in 2001 as a […]
March 18, 2013 PayPal Inc. has received approval from regulators in Russia to operate as a non-credit banking institution in the country, which paves the way for the e-commerce giant to begin operating a domestic payments business in a market the company considers to be one of its biggest growth opportunities. The news initially was […]
March 18, 2013 Intuit Inc. has cast its lot into the competitive European mobile card reader market. Announced as a pilot in November, Intuit Pay includes a chip-and-PIN card reader and companion iOS app that enables payments via MasterCard or Visa. Intuit said versions of the app for other platforms, such as Android, are coming […]
March 18, 2013 Samsung’s plan to embed Mobeam Inc.’s new light-pulse technology into its latest generation of smartphones could provide a quicker route to connecting consumers’ handsets with millions of retailers’ existing POS scanners than some other methods, including NFC, some experts suggest. The South Korean phone maker last week said the new Samsung Galaxy S4 […]
Read about our winners and view event photos. The Paybefore Awards Europe ceremony will be held during Prepaid Expo Europe on 18 April in London. Best-in-Category honorees will be announced for the first time. On March 4, Paybefore celebrated 72 programs in 23 categories, naming for the first time Best-in-Category honorees at the 7th Annual Paybefore Awards […]
for a growing number of people, wary of the debasing of currencies through quantitative easing, alternatives such as Bitcoin are becoming more popular.
PKO Bank Polski has added a mobile payment service that covers all payment situations using the Mobile Everywhere platform from Stockholm-based Accumulate.
Payment systems specialist Dovetail has hired Rossana Salaris as director of product strategy.
March 14, 2013 The Federal Reserve Board this week provided last-minute clarification on debit card routing rules under the Durbin Amendment and on the General Use Prepaid Exemption that experts say could give prepaid issuers heartburn, just about two weeks before the regulation’s April 1 effective date. Under a “Frequently Asked Questions” heading, the Fed […]
March 14, 2013 PayPal Inc. is preparing to rev up its digital wallet with the acquisition of Duff Research, a Sunnyvale, Calif.-based mobile app development shop, the company announced this week on its blog. PayPal since last year has been putting a heavy emphasis on mobile in all of its new product developments, wrote James […]
March 14, 2013 i2c Inc. has enhanced its process for obtaining feedback from prepaid card customers by enabling issuers and program managers that use the Redwood City, Calif.-based payments processor’s IVR system or customer service agents to gather customer feedback through mobile text surveys and automated collection of customer voice messages. Low response rates to […]
March 14, 2013 Continuing its recent global payments push, money transfer giant Western Union has announced a new program in Haiti aimed at enhancing government aid disbursements to citizens. The service initially will enable aid recipients, such as parents of young children, university students and senior citizens, to receive government payments at more than 600 […]
March 14, 2013 PKO Bank Polski has launched a new mobile payment service for use at POS, online, ATMs and for P2P money transfer. The system, known as IKO, is available as a free app for Android and iOS-based smartphones and will soon expand to BlackBerry, Symbian, Java and Windows Phone, according to the Polish […]
The Royal Bank of Scotland has announced a new product intended to help clients migrate to mandatory SEPA standards. Called the RBS SEPA Accelerator, the product has a feature that allows a corporate implementing the SEPA XML file format to independently initiate, monitor and amend file testing, validation and end-to-end simulation. This ensures that a corporate can self-test its SEPA readiness.
March 2013 By Kate Fitzgerald, Emerging Payments Editor In the mobile landscape, the race to build close ties to consumers is intensifying as a broad range of players vie to become essential to individuals’ shopping, purchasing and daily financial management habits. Though still early in the game, at the Prepaid Expo USA in Orlando, Fla., […]
March 2013 Expanding the Boundaries of PrepaidLeft to right: Lisa Breitengross and Kevin Boglarsky, Discover On March 4, Paybefore celebrated 72 programs in 23 categories, naming for the first time Best-in-Category honorees at the 7th Annual Paybefore Awards Ceremony, which capped off the first day of Prepaid Expo USA in Orlando, Fla. This year—for […]
March 2013 By Lori Breitzke, E&S Consulting LLC Imagine that tech innovation is like a superhighway. There always are some drivers zipping ahead of the rest at speeds that make the others uncomfortable, while others move at a less frenetic pace. Innovation in prepaid, on the other hand, straddles two different lanes, sometimes remaining ahead of […]
Almost 200 million mobile users will be making bill payments via their mobile by 2017, according to research. According to Juniper Research, there is a growing user acceptance of ‘push’ mobile banking and a sharp rise in tablet adoption that will drive users of transactional tablet banking services. The report also finds that, adoption of […]
March 2013 By Bill Grabarek and Loraine DeBonis Though much of the payments buzz at last week’s Prepaid Expo USA in Orlando, Fla., revolved around mobile and GPR products, closed-loop cards—whether it’s B2B or consumer gift cards—shouldn’t be ignored, according to several panelists who shared methods of maximizing sales, as well as challenges and […]
March 2013 Ubiquity Global Services recently announced that Ray Iglesias has joined the New York City-based business process outsourcing organization as CEO. Iglesias has a recognized track record in growing a number of successful companies. Most recently he helped manage the integration of payments technology company TxVia into Google. Prior to Google, Iglesias served as […]
March 2013 payvia Inc., a Los Angeles-based mobile payments provider, has appointed Kevin Spector senior vice president, global payments, and Christian Krejcik director of strategic sales. Spector previously served as CEO of Mobile First, an international mobile payments network acquired by payvia, and he has more than 18 years of digital media, finance and international […]
March 2013 By Sirpa Nordlund, Mobey Forum So, where were you in the last week of February? If, like me, you work in the mobile industry, there’s a fair chance you visited Barcelona for the GSMA Mobile World Congress. Over three days, 72,000 visitors from more than 200 countries and all corners of the mobile […]
March 2013 Prepaid issuer and program manager Green Dot Corp. recently announced the appointment of Sam Altman, Green Dot executive vice president of mobile products and strategy, to its board of directors. Green Dot’s board of directors is now comprised of eight members, and Altman will serve as a Class I director. He also is […]
March 12, 2013 Banks looking to devise mobile payments strategies must go against cautious traditions and begin experimenting with a variety of mobile wallet and mobile payment approaches at once without worrying about success or failure, a panel of experts advised a standing-room-only crowd on Mon., March 11 in a session about the future of […]
March 12, 2013 Discover Financial Services has agreed to a deal with Interswitch Limited, the largest integrated payments processor in Nigeria, to enable acceptance of Discover and Diners Club International cards at Interswitch-enabled ATMs and POS terminals throughout that country. The partnership will expand payment opportunities for Nigerians as well, giving holders of Nigeria’s Verve […]
March 12, 2013 PayPal has announced the release of new development tools that will enable third-party developers to streamline in-app payments, the company says. The new features include a mobile software development kit (SDK), JavaScript PayPal buttons that can be simply integrated into Websites, and new APIs for payments processing and settlement. In 2009, PayPal […]
March 12, 2013 Higher payroll taxes, federal tax refund delays, high gasoline prices and inclement weather that spanned much of the United States dampened consumer spending last month, according to the latest SpendTrend data released by First Data Corp., an Atlanta-based payments processor. Dollar volume growth slowed to 4.6 percent year-over-year compared to January’s growth […]
March 12, 2013 Sunrise Community Banks is bringing its three separate local bank operations together under a single bank charter and will rebrand the enterprise as Sunrise Banks, effective April 1, 2013, the company announced this week. Under the new name, Franklin Bank, Park Midway Bank and prepaid issuer University Bank will merge into a […]
March 12, 2013 Ingenico, a Paris-based POS terminal maker, today announced that subsidiary easycash Loyalty Solutions has developed a gift card for gas station company JET Tankstellen Austria GmbH, enabling the Phillips 66 subsidiary to replace paper vouchers. Customers can use the card to pay for gas purchases at the more than 140 JET gas […]
The good news is that 63% of corporate executives are “highly satisfied” with the service they get from their core banking partners; the bad news is less than half of them are confident that their banks are stable and operating securely within their risk parameters. This is making them increasingly interested in the stability of […]
March 11, 2013 The Federal Reserve Board last week said it has no plans to change its regulations on debit card interchange fee limits, despite outcry from retail and consumer groups that claim the limits are currently too high. The Fed issued its second biennial report on the debit card market—as required by Dodd-Frank—which surveyed card […]
March 11, 2013 Many U.S. banks are taking a cautious approach in making any plans to broadly issue EMV cards to consumers prior to October 2015, when the card networks’ liability-shift deadlines take effect, as they weigh the cost of the migration against the risks of doing nothing, several banking executives said today during a […]
