Wirecard this week has launched a mobile checkout development platform enabling retailers to boost the capabilities of their own apps by integrating open- and closed-loop contactless payments, P2P gifting, offers, merchant loyalty functionality and electronic receipts.
JPMorgan Chase is changing its policies to offer more customers access to mainstream payment services—and the company’s Liquid prepaid card will play a key role in the initiative.
Gift card exchange and Blackhawk Network subsidiary Cardpool is helping consumers turn their unused digital and plastic gift cards into charitable donations.
The funds industry has successfully implemented the requirements of the Alternative Investment Fund Managers Directive over the past year but has doubts about the use of data being gathered by regulators and question whether it is helping regulators to better spot threats and systemic risks that may impact market stability.
Consumers may be complaining a lot about financial services in general, but those complaining to the CFPB about prepaid make up about 0.19 percent of the 411,434 complaints in the agency’s Consumer Complaint Database.
eBay’s spinoff of PayPal has reached two key milestones with board approval and an announcement that PayPal will begin trading its own stock next month on NASDAQ under the stock ticker symbol “PYPL.”
Check out the latest clips in our Featured Videos section.
New payments options are springing up all over the place – except for the underlying infrastructure where current arrangement for access and governance may be a hinderance to innovation, according to the head of the UK’s Payment Systems Regulator.
The Supreme Court’s 6-3 decision to uphold tax credits for consumers in 34 states with federal health insurance exchanges as part of the Affordable Care Act (ACA) may not have huge implications for the benefit card industry.
A group of Canada’s major wireless carriers this week announced support for the NFC-based suretap mobile wallet, and with one major bank already on board, the move looks like a watershed moment for telco-led mobile wallets, which generally have struggled to catch on elsewhere.
The Indian government’s efforts to shift the country’s economy away from cash have taken a significant step forward.
The Chinese renminbi continues to gain ground internationally as more banks adopt the currency, propelling its position into the top five global payment currencies worldwide, according to the latest batch of data from Swift.
The NBPCA has announced that Brad Fauss has been elected to serve as its new president and CEO.
Brian M. Axell has joined the law firm Lindquist & Vennum LLP as partner in the financial institutions practice in the Minneapolis office.
MasterCard has appointed Hiang Choong as division president, Hong Kong, Macau and Taiwan, and two co-presidents for the Asia-Pacific region, Singapore-based Ling Hai and Ari Sarker.
Square Inc. has announced that business leader, philanthropist and basketball hall of famer Earvin “Magic” Johnson will join its board of directors this summer.
TSYS has promoted Keith Pierce to executive vice president for relationship management.
Virtual Piggy Inc. has appointed Phillip Manning and Dale Jensen, to its board of directors.
Visa Inc. announced that its board of directors has elected Lloyd A. Carney as an independent director, who will serve as a member of the board’s audit and risk committee.
Traxpay, a B2B payments solutions provider, has appointed Jochen Siegert chief operating officer.
Challenger UK retail bank Atom has received its licence from the Bank of England, meaning it will now be able to go ahead with plans to launch later this year. The bank will add competition to the UK retail banking sector, which until 2010 had not seen a single new entrant for 150 years.
Green Dot Corp. and Walmart have recommitted to their fruitful relationship for another five years, and though the companies are mum on the details of their revenue-sharing arrangement, the deal enhances the outlook for the iconic financial services provider.
Chinese e-commerce giant Alibaba has invested millions in various online marketplaces in the U.S., but this week it announced plans to sell its 1-year old U.S. online marketplace 11 Main to OpenSky.
Gyft, a San Francisco-based mobile gift card company and subsidiary of First Data Corp., has partnered with Chain, an application program interface (API) developer, to create a gift card trading platform that uses blockchain technology.
The afternoon sessions at the Banking Technology Forum 2015 focused on mobile payments, the data dilemma, cyber-security and regulation with speakers from Zapp, GSMA, EY and many others
There is a nuclear revolution going on in banking and payments with new digital challenger banks like Atom and Starling seeking to displace established banks that are themselves turning to real-time payment infrastructures to retain customers and under regulatory pressure to open up to FinTech competition from mobile players and payment service providers (PSPs). Crypto-currencies, cyber-security and other tech challenges were also addressed at the Banking Technology Forum 2015
Target2-Securities, the European Central Bank project to harmonise Europe’s post trade infrastructure, has finally gone live after nine years of preparation. Italy’s Monte Titoli was not part of the first wave.
Coffee kings Dunkin’ Donuts and Starbucks are racing to see who can get consumers their caffeine fix fastest by streamlining mobile ordering and payments in their respective apps.
Texas Attorney General Ken Paxton has filed a lawsuit against bankrupt RadioShack Corp. to help ensure consumers in the state receive their collective $43 million in unredeemed gift cards.
The U.K. Law Commission is exploring ways to protect gift card holders in the event of retailer insolvency and is requesting comments on its proposals by Sept. 17.
If children trust Google more than they trust a bank, tomorrow’s customers may well hold their money with digital companies instead of traditional banks. That thought worries senior banking industry speakers speaking at the BBA conference in London on Thursday.
Swift has brought the management of its Americas, UK, Ireland and Nordics units under one head following the decision of Chris Church, chief executive of Swift Americas and global head of securities, to leave after seven years with the industry consortium.
US post-trade utility the DTCC has issued a series of recommendations on global data harmonisation, beginning with credit derivatives, as part of a grand push to harmonise 30 data fields across global trade repository providers and create a global data dictionary.
Mobile shopping is growing fast in the Asia-Pacific region, according to a newly released study by MasterCard.
A growing number of consumers are eschewing traditional checking accounts in favor of GPR prepaid cards in large numbers, according to a report by CardHub, a search tool owned and operated by Evolution Finance that assists consumers in searching for, comparing and applying for payment cards.
London has been selected as the host city for Sibos 2019 following a successful bid by ExCeL London and London & Partners, the official promotional company for the city.
Corporate users are increasingly adopting mobile payments, according to figures from HSBC, which expects usage of its HSBCnet Mobile corporate banking platform to double over the next 18 months, reaching $100 billion in payments.
Two key takeaways from the NBPCA’s Power of Prepaid event in Washington, D.C., last week are that relationships matter and industry stakeholders must bring consumer benefits to the forefront of any discussion with lawmakers and regulators.
European lawmakers will meet next week to agree on a road map toward finalizing data protection reform this year.
The U.S., Japan and China are working on regulations to prevent the use of digital currencies, such as bitcoin, from being used to finance illegal activities or terrorist organizations, according to Japanese newspaper Nikkei.
