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 […]
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 […]
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 […]
An analysis of mobile solutions for financial advisors concludes that applications to support client interaction and advisory services “will become one of the most industry-disruptive, but potentially most rewarding” developments in the wealth management sector. This is the main finding of Mobile Apps for Financial Advisors and Wealth Managers by Swiss research company MyPrivateBanking Research. […]
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 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 […]
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 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 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 […]
Rising to the challenge of reconnecting with customers, rebuilding trust and renewing the banking experience, banks are starting to explore digital technologies and solutions.
US bank USAA Bank has adopted a mobile virtual assistant called Nina, developed by Nuance Communications, which lets customers interact with their bank account in novel ways that simulate a conversation with a real human.
March 4, 2013 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 the very first time—there was a sixth judge, consisting of the votes of visitors to Paybefore.com, […]
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 […]
A majority of consumers would prefer portable bank account numbers to make switching between banks easier, according to a new YouGov poll conducted by BT – and the reasons may surprise advocates of Banking 2.0.
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 […]
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 […]
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 […]
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) […]
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.
MasterCard has announced the roll-out of a new integrated authorisation tool that straddles the card, online and mobile payments areas, while allowing merchants and digital wallet providers to integrate it with their services.
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.
Saxo Bank has added new features to its trading app SaxoTrader, which works on iPhone and iPad and is designed to make trading more mobile.
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 […]
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 […]
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 […]
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 […]
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.
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.
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 […]
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 […]
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 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 […]
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 […]
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 […]
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 […]
