PayTech

Prepaid Resources Partners with IDology to Combat Benefit Enrollment Fraud (March 5, 2013)

Prepaid Resources Partners with IDology to Combat Benefit Enrollment Fraud (March 5, 2013)

March 5, 2013 Prepaid Resources, a New York City-based technology specialist for the prepaid and banking industry, has announced a partnership with Atlanta-based technology provider IDology to incorporate advanced identity verification and prescreening solutions within Prepaid Resources’ FraudGuard security services. Fraud Guard protects against unauthorized direct-deposit enrollments using Prepaid Resources’ BenefitsDirect Direct Deposit Management application. […]

eGifter Takes Social Gifting to LinkedIn (March 5, 2013)

eGifter Takes Social Gifting to LinkedIn (March 5, 2013)

March 5, 2013 GroupGifting.com, the developers of the eGifter Web and mobile social gifting app, debuted its integration with LinkedIn at the Prepaid Expo USA in Orlando, Fla., yesterday. The new feature enables consumers to send eGift cards to their LinkedIn Connections. “Social gifting in a business context is now a reality,” said Tyler Roye, […]

Paybefore Honors Innovation in Orlando (March 4, 2013)

Paybefore Honors Innovation in Orlando (March 4, 2013)

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 […]

Discover Launches Checking, Debit Service with Rewards Lure (Feb. 28, 2013)

Discover Launches Checking, Debit Service with Rewards Lure (Feb. 28, 2013)

Feb. 28, 2013 Discover Financial Services is taking on the likes of online banking specialists Simple and Moven with Discover Cashback Checking, introducing a mainstream debit card, to be processed on its Pulse network. Initially targeting only select Discover credit card customers by invitation, Discover’s new banking service carries no monthly fees or minimum balances […]

MasterCard Inks VimpelCom Deal, Launches NFC Services in Brazil (Feb. 28, 2013)

MasterCard Inks VimpelCom Deal, Launches NFC Services in Brazil (Feb. 28, 2013)

Feb. 28, 2013 MasterCard Worldwide pushed its global mobile payments strategy forward this week with announcements of diverse initiatives targeting new customers, including a strategic partnership with Amsterdam-based mobile network operator VimpelCom Ltd. to reach unbanked consumers in 18 countries with a “mobile money” service, as well as the card network’s first NFC launch in […]

PayPal Founder’s New App ‘Simplifies’ Mobile Shopping (Feb. 28, 2013)

PayPal Founder’s New App ‘Simplifies’ Mobile Shopping (Feb. 28, 2013)

Feb. 28, 2013 A new startup from PayPal co-founder Max Levchin is aiming to improve the process of making online purchases via mobile device—an improvement he says is a boon to customers and retailers alike. Known as Affirm, the new company is the brainchild of Levchin’s tech incubator Hard, Valuable, Fun and is launching a […]

CO-OP Financial Services to Offer TMG Prepaid Cards (Feb. 28, 2013)

CO-OP Financial Services to Offer TMG Prepaid Cards (Feb. 28, 2013)

Feb. 28, 2013 As part of a partnership established last year with The Members Group (TMG), a Des Moines, Iowa-based card processing and payment solutions provider, CO-OP Financial Services today announced it will be offering TMG’s reloadable prepaid cards to all of its client credit unions. The TMG reloadable prepaid cards are in addition to […]

AccountNow Reports Major Call Volume Shift with VoltDelta (Feb. 28, 2013)

AccountNow Reports Major Call Volume Shift with VoltDelta (Feb. 28, 2013)

Feb. 28, 2013 Customer service is in the news for the second time this week as prepaid card provider AccountNow Inc. reported that more than 90 percent of its call volume is now resolved in the automated system rather than via live agent. The increase follows AccountNow’s move to VoltDelta for customer service 18 months […]

Blog: New Credit Card Surcharges Could Impact Prepaid Market (February 2013)

Blog: New Credit Card Surcharges Could Impact Prepaid Market (February 2013)

Blog: New Credit Card Surcharges Could Impact Prepaid Market February 2013   By Lori Breitzke, E&S Consulting LLC A proposed settlement agreement in the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation—filed in 2005 on behalf of approximately 7 million merchants alleging, among other claims, that MasterCard and Visa had separately colluded […]

Blog: New Credit Card Surcharges Could Impact Prepaid Market (February 2013)

Blog: New Credit Card Surcharges Could Impact Prepaid Market (February 2013)

February 2013   By Lori Breitzke, E&S Consulting LLC A proposed settlement agreement in the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation—filed in 2005 on behalf of approximately 7 million merchants alleging, among other claims, that MasterCard and Visa had separately colluded with banks to eliminate competition and increase interchange (swipe) […]

Wincor Nixdorf predicts mobile cash withdrawal explosion

While most large banks in the UK offer a mobile app, some do not yet offer mobile cash withdrawal as a feature. That is likely to change soon, according to Ian Byrne, banking director UK and Ireland at ATM maker Wincor Nixdorf.

Mauritius adopts e-payment as PeX turns to BPC-HP

Payment service provider Payment Exchange has moved its Mauritius operation onto BPC Banking Technologies’ HP Integrity NonStop platform, which is designed to make it easier, faster and cheaper to launch new products.

U.S. EMV Migration Forum Sketching Plans for One-City EMV Pilot (Feb. 26, 2013)

U.S. EMV Migration Forum Sketching Plans for One-City EMV Pilot (Feb. 26, 2013)

Feb. 26, 2013 Payments industry experts eyeing the October 2015 target date for the U.S. migration to EMV card technology are contemplating plans to set up an EMV pilot in a single U.S. city to boost EMV planning and to work out the bugs in chip-card deployment. The concept, hatched by a committee within the […]

paysafecard Launches Online Shopping Account (Feb. 26, 2013)

paysafecard Launches Online Shopping Account (Feb. 26, 2013)

Feb. 26, 2013 European e-voucher provider paysafecard group has launched a new service it says will simplify the process of Internet shopping for its customers. The Paybefore Award-winning firm’s new system—dubbed “my paysafecard”—enables customers to combine all of their paysafecard e-vouchers into a single account. Instead of having to enter separate 16-digit PINs for each […]

GOP Leaders Talking Tough on Interchange Fee Cap (Feb. 26, 2013)

GOP Leaders Talking Tough on Interchange Fee Cap (Feb. 26, 2013)

Feb. 26. 2013 Rep. Spencer Bachus (R-Ala.) today told attendees at a Credit Union National Association Government Affairs Conference in Washington, D.C., that federal lawmakers may revisit the debit interchange fee cap created by the Durbin Amendment this year, according to CUNA’s News Now. The publication also reports the Rep. Jeb Hensarling (R-Texas) said earlier […]

Prepaid Customer Service Takes Center Stage at Philly Fed Workshop (Feb. 26, 2013)

Prepaid Customer Service Takes Center Stage at Philly Fed Workshop (Feb. 26, 2013)

Feb. 26, 2013 The Payment Cards Center of the Federal Reserve Bank of Philadelphia hosted a workshop last week focused on customer service in the prepaid card industry. Susan Herbst-Murphy, a senior industry specialist at the PCC, says the center was eager to learn more about customer service issues in light of the Treasury’s mandate […]

Omani Bank Stung by Travel Card Fraud (Feb. 26, 2013)

Omani Bank Stung by Travel Card Fraud (Feb. 26, 2013)

Feb. 26, 2013 Oman’s largest bank said a dozen of its prepaid travel cards were compromised outside of the country. Bank Muscat will take an impairment charge of up to 15 million rials (US$39 million) as a result of the unspecified fraud—a figure representing more than 10 percent of the bank’s latest annual earnings.   […]

SEPA Uncertainty

Big banks and their large corporate clients are in the final stages of preparation for the SEPA end date of February next year, but what about the smaller clients in the non-euro countries?

Wagner aims at m-commerce gap

Dan Wagner is pretty sure that he has an idea how the use of mobile devices will play out in the commercial world and how the relationships between banks, merchant acquirers, merchants and customers will change.

Visa Inks Deals with Samsung, Roam for ‘Ready Partner’ Program (Feb. 25, 2013)

Visa Inks Deals with Samsung, Roam for ‘Ready Partner’ Program (Feb. 25, 2013)

Feb. 25, 2013 Aiming to speed up development of mobile payment technologies, Visa Inc. on the eve of this week’s Mobile World Congress in Barcelona announced the Visa Ready Partner Program, a framework it hopes will make it easier for mobile device manufacturers, mobile network operators and various of their technology partners around the world […]

MasterCard Unveils MasterPass for ‘Simple’ Shopping Experience (Feb. 25, 2013)

MasterCard Unveils MasterPass for ‘Simple’ Shopping Experience (Feb. 25, 2013)

Feb. 25, 2013 MasterCard Inc. today unveiled MasterPass, a cloud-based service that builds on its PayPass Wallet Services by eliminating the need for consumers to enter card or shipping details with each purchase and adding new tools to enhance online, mobile and in-store shopping. MasterPass will roll out through banks in Canada and Australia beginning […]

PayPal to Enter Crowded European Mobile Card Reader Market (Feb. 25, 2013)

PayPal to Enter Crowded European Mobile Card Reader Market (Feb. 25, 2013)

Feb. 25, 2013 PayPal continues its diversification into brick-and-mortar payments with the announcement that it will expand its PayPal Here mobile card reader to Europe, beginning in the U.K. this summer. The European iteration of PayPal Here will differ from the version launched in the U.S. nearly a year ago in some key ways, due […]

ATM Survey Suggests Prepaid Card Opportunity for FIs (Feb. 25, 2013)

ATM Survey Suggests Prepaid Card Opportunity for FIs (Feb. 25, 2013)

Feb. 25, 2013 Recent research into the prepaid card-buying habits of ATM users indicates an opportunity for credit unions and banks to capture a portion of the prepaid card market by leveraging the convenience of ATMs. More than 85 percent of credit union members use ATMs and 70 percent of those ATM-using members also buy […]

China UnionPay Continues NFC Push with Gemalto Pact (Feb. 25, 2013)

China UnionPay Continues NFC Push with Gemalto Pact (Feb. 25, 2013)

Feb. 25, 2013 Shanghai-based payment card network China UnionPay (CUP) continues its efforts to develop NFC payments, signing an agreement with Dutch digital payment security provider Gemalto to build “a secure mobile NFC ecosystem.” The partnership will cover deployment issues including trusted service manager interoperability, along with technology standards and specifications, the firms said. China […]

PayPal rolls out Chip & PIN reader in Europe

Payment provider PayPal has launched a card reader device that handles Chip & PIN and PayPal payments in Europe. The device will be available to select UK businesses over the coming months before becoming generally available this summer.

The changing face of payments

The Payments Council’s latest report, The Way We Pay, shows rapid changes in use of payment methods over the past decade – but cash is still in the mix.

iZettle and Santander “democratise” cheap card payments

Spanish bank Banco Santander has signed a deal with iZettle, a fledgling Swedish payments specialist that focuses on ‘social’ payments. The two companies plan to distribute mini chip-card readers to customers, so that they can accept card payments with smartphones and tablets.

Debit Network Routing Debate for EMV Transactions under Durbin Simmers (February 2013)

Debit Network Routing Debate for EMV Transactions under Durbin Simmers (February 2013)

February 2013 By Kate Fitzgerald, Emerging Payments Editor With less than three years to go before U.S. EMV liability-shift deadlines begin to take effect, payment industry participants beginning to make their plans are facing their first obstacle, as the U.S. debit networks wrestle with options for choosing a technology approach for routing chip-based debit transactions under […]

Viewpoint: A Tale of Two Gen Ys that Desire Prepaid Cards (February 2013)(2)

Viewpoint: A Tale of Two Gen Ys that Desire Prepaid Cards (February 2013)(2)

February 2013   By Aleia Van Dyke, Javelin Strategy & Research The slow economic recovery from the Great Recession has forced young Americans to confront a dismal financial reality marked by unprecedented student loan debt and soaring unemployment. But the financial industry cannot afford to ignore Gen Y, the generation of consumers born from 1979 […]

Viewpoint: A Tale of Two Gen Ys that Desire Prepaid Cards (February 2013)

Viewpoint: A Tale of Two Gen Ys that Desire Prepaid Cards (February 2013)

By Aleia Van Dyke, Javelin Strategy & Research The slow economic recovery from the Great Recession has forced young Americans to confront a dismal financial reality marked by unprecedented student loan debt and soaring unemployment. But the financial industry cannot afford to ignore Gen Y, the generation of consumers born from 1979 to 1999. By […]

FCB’s Exit from Issuing Leaves Program Managers Seeking New Partners (February 2013)

FCB’s Exit from Issuing Leaves Program Managers Seeking New Partners (February 2013)

February 2013   By Adam Perrotta, Assistant Editor Dozens of prepaid program managers are scrambling to find a new bank issuer with First California Bank (FCB) exiting the issuing business ahead of its acquisition by PacWest Bancorp.                                    In November, PacWest agreed to pay $231 million for FCB’s parent company, Westlake Village, Calif.-based First California Financial […]

Inside Eurograbber: the £30m mobile banking heist

In the history of bank robberies, the £30 million stolen by the Eurograbber attack in 2012 ranks as one of the all-time biggest, globally. And when you consider that this sum was stolen from more than 30,000 accounts across 30 banks in four European countries, using malware that affected both PCs and bank customers’ mobile […]

Viewpoint: A Tale of Two Gen Ys that Desire Prepaid Cards (February 2013)

Viewpoint: A Tale of Two Gen Ys that Desire Prepaid Cards (February 2013)

By Aleia Van Dyke, Javelin Strategy & Research The slow economic recovery from the Great Recession has forced young Americans to confront a dismal financial reality marked by unprecedented student loan debt and soaring unemployment. But the financial industry cannot afford to ignore Gen Y, the generation of consumers born from 1979 to 1999. By […]

In Wake of NetSpend Buy, TSYS Calls Prepaid ‘Innovative Cornerstone’ for Emerging Payments (Feb. 20, 2013)

In Wake of NetSpend Buy, TSYS Calls Prepaid ‘Innovative Cornerstone’ for Emerging Payments (Feb. 20, 2013)

Feb. 20, 2013 In a deal that could alter the competitive landscape of the prepaid industry, payments processor TSYS yesterday announced plans to acquire GPR and payroll card provider NetSpend Corp. for $1.4 billion in cash. The purchase—characterized by TSYS as a “transformational event”—enhances the Columbus, Ga.-based firm’s role in the prepaid processing arena and […]

iZettle Launches Chip-and-PIN Mobile Card Reader, Resolving Visa Europe Impasse (Feb. 20, 2013)

iZettle Launches Chip-and-PIN Mobile Card Reader, Resolving Visa Europe Impasse (Feb. 20, 2013)

Feb. 20, 2013 Sweden-based mobile payments player iZettle this week announced the launch of a new smartphone-based card reader for small-business merchants that uses chip-and-PIN technology and Bluetooth to accept all major card brands, resolving iZettle’s six-month impasse with Visa Europe over a security issue. iZettle in 2011 began offering its card reader to merchants […]

Australia Supermarket Chain Launches NFC Pilot (Feb. 20, 2013)

Australia Supermarket Chain Launches NFC Pilot (Feb. 20, 2013)

Feb. 20, 2013 Australian supermarket giant Wesfarmers Ltd.’s Coles is conducting a small pilot of a MasterCard mobile wallet that enables customers to pay using NFC-equipped phones through an app that automatically links to the store’s loyalty program. The three-month pilot, conducted in partnership with GE Capital Australia, Vodafone and Gemalto, involves 60 Coles supermarket […]

Gifting App Developer Launches Gift Card Scanning Feature (Feb. 20, 2013)

Gifting App Developer Launches Gift Card Scanning Feature (Feb. 20, 2013)

Feb. 20, 2013 As more companies work to combine the power of social media with the popularity of gift cards, Melville, N.Y.-based GroupGifting.com has added a card scanning feature to its eGifter Web and mobile social gifting app. The scanning feature enables consumers to add plastic gift cards to their digital wallets in the eGifter app […]

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