Payments veteran Trent Sorbe, president of Central Payments, a division of Central Bank of Kansas City, testified before the CFPB on Oct. 28, as part of the federal agency’s small business advisory panel.
Thomas Scanlon has joined the financial services and payments practice groups at Davis Wright Tremaine, where he will practice mostly in the firm’s office in Washington, D.C.
MasterCard has appointed Craig Vosburg president, North America Markets, effective Jan. 1, 2016.
Meta Financial Group Inc. announced that Cindy Smith has been named executive vice president, head of technology and operations.
Mozido, a global provider of digital commerce and payment solutions, announced that Todd Bradley has been appointed CEO.
Progressive Digital Media Group Plc, has completed its acquisition of Datamonitor Financial, Datamonitor Consumer, MarketLine and Verdict from Informa plc.
Silicon Valley Bank announced that Bruce Wallace is taking on the role of chief digital officer and Michael Dreyer is joining the company’s executive management team as chief operations officer.
As part of a recent push toward enhancing cardholder security, MasterCard is extending its updated Zero Liability policy to cardholders across the globe.
Federal prosecutors have charged a trio of accused cybercriminals in a wide-ranging hacking and fraud scheme Attorney General Loretta Lynch called “one of the largest thefts of financial-related data in history.”
A 30-second advertisement that aired during last night’s Republican presidential debate took aim at the CFPB and likely raised the hackles of the bureau’s proponents.
Eighteen U.S. senators led by Cory Booker (D-N.J.), sent a letter last week to the CFPB urging protections for prisoners released from jail who receive prepaid cards when they exit incarceration.
The European Commission has acknowledged that further delay to MiFID II may be ‘necessary’, following a letter from ESMA which said it would not be possible to implement the legislation in time. The delay follows an earlier setback in May and means the new rules could be delayed until January 2018.
Optimal Payments, a global payments solution provider, today announced its new company name and brand identity, Paysafe Group plc.
Expectations for plastic and e-gift cards are high this holiday season and two new studies—one from Blackhawk Network and one from First Data—shed light on consumer preferences heading into retail’s peak sales season.
Fraud attempts are on the rise throughout multiple industries, according to a new study from fraud prevention and identity verification specialist IDology Inc.
A small Texas bank is digging in its heels in a legal challenge to the CFPB and the appointment of agency director Richard Cordray.
In Uber’s latest move to expand its services to emerging markets, the San Francisco-based company has formed a partnership with Mumbai-based Paybefore Awards winner ItzCash Card Ltd. to reach unbanked consumers in areas outside India’s major cities.
UK regulator the Financial Conduct Authority is planning to launch a ‘regulatory sandbox’ that will allow businesses to test out new products and services without ‘incurring the normal regulatory consequences’. The move is part of the FCA’s year-old Project Innovate, which aims to boost competition and growth in financial services.
Green Dot is pressing the gas pedal when it comes to expanding GoBank, with new distribution plans for next year, including a new distribution partner and a GoBusiness account rolling out to serve at least one company’s large base of 1099 workers. During last week’s earnings call with investors, Green Dot CEO Steve Streit also discussed plans for new prepaid products, along with MoneyPak Plus—a reload product to replace its discontinued MoneyPak.
Mastercard and Cardlytics have formed a new partnership that will streamline the process for banks implementing Cardlytics’ card-linked marketing offers, and ensure that consumers can access offers online and via mobile devices.
Five months after announcing support for retailer loyalty programs, Apple Pay has landed its first merchant loyalty partner. Members of Walgreens’ Balance Rewards loyalty program now are able to integrate their rewards accounts into Apple Pay, using a mobile device to earn and redeem points when making purchases at the pharmacy giant.
The news of major lay-offs to come put a dampener on otherwise good news in the financial sector jobs market in the UK last month. According to the Morgan McKinley London Employment Monitor, October saw an across the board increase in both new job opportunities and new job seekers.
A new stock exchange, Bolsa Institucional de Valores, is planning to launch in Mexico, creating competition for Latin America’s second largest stock market, the BMV. The exchange, currently waiting for final regulatory approval, will use Nasdaq’s X-stream trading platform.
Tim Fitzpatrick has been appointed as the new chief executive of CHAPS, the UK’s same day high-value payment system. Currently HSBC’s Global Payments and Cash Management chief operating officer and group head of payment services.
Santander has launched a competition to support startups using distributed ledger technology in financial services. Through its subsidiary InnoVentures, the bank hopes to promote distributed ledger tools that could improve banking processes.
The threat of competition from technology companies, startups and non-banks is causing serious worry to nearly three-quarters of retail banks, causing four-fifths of them to invest in so-called ‘disruptive’ technologies, according to a new study by Infosys and non-profit organisation Efma.
Companies seeking to appeal a supervisory action undertaken by the CFPB have to play by some new rules, now that the agency has revised its appeals process.
Chief marketing officers at 100 U.S. retailers are expecting a 4.2 percent increase in holiday season total store sales this year, which is in line with last year’s 4.1 percent increase, according to a the 10th annual survey from BDO USA, a professional services firm and consultancy.
The EMV Migration Forum, a cross-industry organization that supports the U.S. shift to EMV chip cards, today announced a package of fresh educational resources and a new working committee to guide the chip card transition for merchants with automated fuel dispensers.
Mobile payments technology provider Mobetize Corp. has formed a strategic partnership with prepaid wireless company Global Service Solutions Inc. and under the new brand Gotwallet, the companies “successfully” will bridge the gap between the prepaid wireless end user and mobile payments, according to a Global Services Solution executive.
The London Stock Exchange has signed a memorandum of understanding with JSC Kazakhstan Stock Exchange, the first ever between the two exchanges.
Legislators and regulators are grappling with how to apply existing money transmitter laws to an emerging industry. Read about the challenges and latest developments across the U.S.
A group of technology titans are setting aside competitive differences to form a consortium promoting financial services innovation to policymakers.
In the latest example of the global push to speed up payments, Fiserv Inc. and Early Warning, a bank-owned risk management service, today announced a partnership enabling U.S. banks to provide real-time bill payment and deposit services, leveraging the scale of Fiserv’s NOW Network and technology from Early Warning.
Experts have long pointed to loyalty as the key to convincing consumers to adopt mobile wallets.
A snapshot of payments-related earnings reports recently announced is available to you below.
States are getting into the EMV with PIN push, which they say will provide better fraud protection.
A class action related to the Kmart breach in 2014 was struck down.
Standard Chartered is to invest $3 billion in “strategic opportunities” and its technology infrastructure as part of a wholesale reorganisation of the bank in the wake of a $139 million third-quarter loss. The restructuring will see 15,000 jobs – 17% of its workforce – go over the next three years.
Global regulatory body the Financial Stability Board has released two guidance papers which aim to solve the “too big to fail” scenario and prevent a re-run of the financial crisis by promoting the resolvability of systemically important financial institutions.
