People on the Move: Ryan Anderson, The Members Group (August 2013)
The Members Group, a Des Moines, Iowa-based card processing and payment solutions provider, has chosen Ryan Anderson to fill the newly created position of vice president of product.
News
People on the Move: Rory Smith, Ovation Incentives (August 2013)
Ovation Incentives, a U.K.-based B2B incentive program provider, has appointed Rory Smith head of its U.S. office in Chicago.
People on the Move: Ezediashi Ofili and Marcus Mak, MasterCard (August 2013)
MasterCard has appointed Ezediashi Ofili vice president and business leader to drive growth of its prepaid business in sub-Saharan Africa. MasterCard also appointed Marcus Mak head of merchant marketing for the company’s Asia-Pacific, Middle East & Africa region.
Companies on the Move: InComm Digital Solutions, formerly Giftango (August 2013)
Giftango, a digital gifting solutions provider and wholly owned subsidiary of InComm, announced it now operates under the name InComm Digital Solutions.
People on the Move: Gilles Coccoli and Antoine Dumurgier, Edenred (August 2013)
France-based prepaid card provider Edenred recently announced two appointments to its executive committee.
People on the Move: Amit Parikh, Discover (August 2013)
Discover Financial Services has a new head of prepaid, Amit Parikh, who is responsible for overseeing prepaid sales and relationship management.
People on the Move: Neil Peretz, BillFloat (August 2013)
San Francisco-based BillFloat, which provides small-dollar loans to customers for electronic bill payments, recently announced that Neil Peretz has joined the company as general counsel.
Equity Firm Shells out EUR600 million for Majority Stake in Skrill (Aug. 19, 2013)
Aug. 19, 2013 One of Europe’s largest private equity firms has acquired a controlling stake in U.K.-based online payment system Skrill. Funds advised by CVC Capital Partners doled out EUR 600 million (US$801 million) to nab a 75 percent stake in Skrill from Bahrain-based Investcorp. Founded in 2001 as Moneybookers, Skrill is among the world’s […]
Enacomm: Predicting Customer Behavior Is Key to Cutting Churn, Costs (Aug. 19, 2013)
Aug. 19, 2013 Customer relationship management (CRM) tools, which previously came with multimillion-dollar implementation costs, are becoming more affordable for companies of all sizes because of software-as-a-service (SAAS) models, according to Enacomm Inc., which last week unveiled 4Cast. The CRM application, which is now available as an SAAS release, analyzes past and current user data […]
VeriFone Launches Mobile Payment App with 7,000 NYC Taxis (Aug. 19, 2013)
Aug. 19, 2013 The taxicab industry is serving as a laboratory for new mobile payment technologies, with VeriFone Systems Inc.’s new cloud-based Way2ride app the latest example. VeriFone this month in New York City is launching a mobile app in 7,000 cabs enabling riders to tap to pay using any iOS or Android smartphone. Users […]
Online Payment Provider Stripe Enters U.K. (Aug. 19, 2013)
Aug. 19, 2013 San Francisco-based online payment startup Stripe has expanded its services to the U.K. The company’s platform enables merchants to accept network branded payment cards online by integrating a few lines of code on their Websites. Already active in the U.S. and Canada, Stripe’s client list includes Foursquare and Redditt. The company has […]
European branches will be cut in half by 2020
Half of Europe’s bank branches could be obsolete within the next seven years, according to new research by real estate advisory firm Jones Lang LaSalle.
UK Payments Council sets September date for account switching
The UK Payments Council has set a date for the introduction of the seven-day account switching service, which will make it easier for UK customers to switch their bank.
Market data boost for Qatar and UAE as ratings status upgrade kicks in
The effects of Qatar and United Emirates’ impending upgrade by ratings agency MSCI are starting to ripple through to financial services firms, as Interactive Data Corporation beefs up its market data service to the Middle East and North Africa.
Facebook to Make its First M-Commerce Move (Aug. 15, 2013)
Aug. 15, 2013 Is Facebook ready to take another stab at payments—this time using mobile apps? The social media giant reportedly is about to test a new mobile payments feature that would enable users who have stored credit card information with Facebook to make purchases directly from e-commerce mobile apps using only Facebook login credentials. The […]
Blackhawk Brings Insurance Card to Canadian Safeway Locations (Aug. 15, 2013)
Aug. 15, 2013 Blackhawk Network has released a new line of travel insurance cards that will enable customers to purchase coverage with cash at Canadian Safeway grocery locations. Known as SmartAssure, the cards are being launched in partnership with issuer Jones Deslauriers Blevins Insurance Group, one of Canada’s largest insurance brokerages. Available in multiple denominations […]
EC Gives OK to Spanish Mobile Commerce Venture (Aug. 15, 2013)
Aug. 15, 2013 A mobile commerce partnership between Spanish telecom provider Telefónica and two Spanish banks has been given the green light by the European Commission (EC), paving the way forward for what the companies are calling Europe’s first full joint venture between financial institutions and telecom operators. In its ruling, the EC said there […]
Heartland Launches Mobile App for School Tuition, Fees (Aug. 15, 2013)
Aug. 15, 2013 A new mobile app from Heartland School Solutions, a division of Princeton, N.J.-based merchant processor Heartland Payment Systems, aims to make it easier for parents to manage their children’s school related expenses, such as meals, tuition, lab fees and sporting events. The app, launched this week for Apple iOS and Android smartphones […]
Investment banks must provide “immediate” service improvement says TABB
As the world’s banks continue to struggle with severe regulatory change, economic turbulence and technological evolution, a new report by analyst firm Tabb Group says that financial institutions will have to provide immediate, friction-free access to content, community and execution, or face extinction.
Jos Schmitt returns to build new Canada exchange
Former Alpha ATS chief Jos Schmitt is planning a new stock exchange for Canada, to be called Aequitas Exchange, which will take on incumbent TMX Group.
Japan gears up for OTC derivatives clearing in 2014
Financial services firms in Japan are taking early steps to prepare for new rules on OTC derivatives, according to a new survey carried out by fintech company Calypso in Tokyo.
Judge Gives Fed another Week to Discuss New Durbin Rules; Floats Idea of Merchant Refund (Aug. 14, 2013)
Aug. 14, 2013 A judge has given the Federal Reserve another week to answer questions about rewriting the agency’s rule on implementing debit interchange fees and network routing regulations under the Durbin Amendment. The agency’s existing rule was thrown out last month when the district court ruled in favor of merchants in a lawsuit filed […]
MasterCard, Travelex Launch Five-Currency Prepaid Card for U.S. Travelers (Aug. 14, 2013)
Aug. 14, 2013 Travelex has teamed up again with MasterCard and its subsidiary Access Prepaid for what the companies say is the first-ever multicurrency prepaid travel card specifically developed for U.S. travelers. The Multi-Currency Cash Passport Prepaid MasterCard, equipped for both magnetic-stripe and EMV chip transactions, enables customers to preload funds in five currencies simultaneously, […]
PayPal Signs Deal for In-App Payments (Aug. 14, 2013)
Aug. 14, 2013 PayPal Inc. has struck deal with mobile in-app commerce provider Lotaris that will add PayPal acceptance to the Lotaris platform. The pact enables commercial app developers using Lotaris’ in-appCommerce service—which providers licensing and payment solutions for purchases made within mobile apps—to offer users the option to pay with a PayPal account. The […]
Credit Association Partners with EnStream for Canadian Mobile Wallet (Aug. 14, 2013)
Aug. 14, 2013 EnStream, the mobile payments joint venture between Canadian telecom providers Rogers Communications, Bell Corp. and TELUS Corp., has inked a deal with credit union association Desjardins Group to enable Desjardins’ banking customers to add payment cards to NFC-enabled smartphones. Under the partnership, Desjardins can offer its own branded banking app that’s compatible […]
N.Y. Looks to Tame ‘Wild West’ of Virtual Currencies (Aug. 14, 2013)
Aug. 14, 2013 Less than a week after a U.S. federal judge ruled that Bitcoin is real currency, New York State’s Department of Financial Services (DFS) announced it has launched an investigation into virtual currencies. “The emergence of Bitcoin and other virtual currencies has presented a number of unique opportunities and challenges,” DFS Superintendent Benjamin […]
New rules for dark trading and HFT in Australia
Australia’s Securities and Investments Commission has set out a series of final rules on dark liquidity and high-frequency trading, which it says will promise a more stable market.
Canada’s Desjardins financial cooperative pushes NFC offering
Canada is seeing a fresh push to promote near field communication (NFC) services after Canadian cooperative financial group Desjardin signed a deal with mobile money solutions provider Monitise and a joint venture with the nation’s three largest mobile operators.
Hearing Set for Tomorrow on Court Interchange Ruling (Aug. 13, 2013)
Aug. 13, 2013 A hearing scheduled for tomorrow in U.S. District Court in Washington, D.C., will be the next step in the legal wrangling over the Federal Reserve’s debit interchange rule. The hearing follows the ruling late last month by U.S. District Court Judge Richard Leon that the Fed’s Board of Governors overreached in its […]
Chase Joins mPOS Race (Aug. 13, 2013)
Aug. 13, 2013 Chase today jumped into the mPOS race, offering a free mobile card reader for small business customers that has a few frills but a somewhat more traditional pricing plan, according to an announcement from Chase Paymentech, JPMorgan Chase & Co.’s acquiring and processing subsidiary. Like Square, which galvanized the mobile payments market […]
CloudZync Debuts U.K. Wallet (Aug. 13, 2013)
Aug. 13, 2013 Another mobile wallet provider has entered the fray in the U.K. British startup CloudZync has launched its Zync Wallet app for iOS and Windows phones, with an Android version to follow soon. Thus far, 280 merchants in London have signed on to accept Zync Wallet, which works by generating a QR code […]
Debit Rewards Provider PerkStreet to Shut Down (Aug. 13, 2013)
Aug. 13, 2013 PerkStreet Financial, a Boston-based cash-back debit rewards provider, has announced it will shutter its services next month, citing a lack of financing along with regulatory restrictions that limited its ability to compete. In a notice posted on the company’s Website, PerkStreet said it will cease business operations on Sept. 26 and will […]
Power of Prepaid: Consumer Research Reveals Rising Prepaid Usage, More Work to Do
One recent study shows encouraging signs about prepaid adoption, while another reveals surprisingly low usage among minority populations, including Latinos, African- and Asian-Americans, suggesting that the industry has some work to do in further penetrating these demographic markets.
Study: Gen Y Using Mobile among Other Methods to Pay Bills (Aug. 13, 2013)
Aug. 13, 2013 Although Generation Y consumers, ages 18 to 34 years old, pay bills using a mobile device more than other generations, Gen Y consumers still prefer to have other bill payment options, according to a recent Western Union Co. study. More than 30 percent of Gen Y respondents reported paying a bill using […]
Prepaid Card User Snapshot: Who They Are, How to Reach Them (Spring 2013)
By Bill Grabarek, Senior Editor Acxiom consumer data shed light on current and future prepaid customers. Industry experts estimate that prepaid—despite its exponential growth—has barely made a dent in reaching underbanked consumers. And evidence suggests that targeting younger consumers also might be fertile ground for providers looking to grow their portfolios. To help providers better […]
One American in three uses mobile banking
One in three US adults now uses mobile banking in their day to day lives– a rise of almost double since 2011, according to new research from the US Pew Research Centre.
Hong Kong Exchange installs MarketPrizm DMA
Hong Kong Exchanges and Clearing has connected its equity and derivatives markets to MarketPrizm, a market data and infrastructure service targeted at low-latency trading firms.
New GMEX derivatives exchange plans global conquest
An international derivatives market called Global Markets Exchange Group International has been launched by co-founders Hirander Misra and Vj Angelo, in a bid to target new business opportunities created by changing financial regulation.
Isis Links with Amex’s Serve; Expands Chase Connection (Aug. 12, 2013)
Aug. 12, 2013 American Express Co.’s prepaid brand Serve will get a slot in the Isis mobile wallet when the mobile commerce venture rolls out nationally later this year, which could boost Serve’s awareness among its intended audience of underbanked consumers. Today JPMorgan Chase & Co. also said it plans to expand its relationship with […]
PayPal Unveils Facial Verification for In-Store Payments (Aug. 12, 2013)
Aug. 12, 2013 Shoppers in the London borough of Richmond now can use their photos to verify their identity when making in-store purchases with PayPal’s mobile app. A new pilot in the company’s U.K. home base enables a user to find nearby shops and restaurants that accept PayPal, then check in by clicking on the […]
