Consumers Soon Can Use Softcard to do Laundry (Oct. 1, 2014)
Softcard has extended its reach to the self-serve laundry business.
Payments
Report: Emerging Markets Driving Noncash Payment Growth (Oct. 1, 2014)
Noncash payments are estimated to have increased by 9.4 percent last year, reaching 366 billion transactions, according to a new report from Capgemini and Royal Bank of Scotland.
Data Breach Hits Sandwich Chain, Mom-and-Pop Restaurants (Oct. 1, 2014)
Large retailers and financial institutions aren’t the only victims of fraudsters on the prowl for payment card data.
PayPal, eBay Going Their Own Ways; Becoming Independent, Publicly Traded Companies (Sept. 30, 2014)
eBay Inc.’s board of directors will separate the online auction Website from subsidiary PayPal next year, making two independent, publicly traded companies.
Card Compliant Granted Patent on Escheat Management, Breakage, Revenue Recognition Platform (Sept. 30, 2014)
Technologies from Card Compliant aim to help prepaid issuers manage the regulatory and compliance challenges presented by accounting standards and escheatment requirements.
InComm Joins MCX Fold (Sept. 30, 2014)
Prepaid product and technology provider InComm has partnered with Merchant Customer Exchange (MCX), the retailer-led consortium that recently unveiled its new mobile payments network, CurrentC.
Cachet Financial Integrates Ingo Money Check Guarantee Services for Banks, Credit Unions (Sept. 30, 2014)
Minneapolis-based remote deposit capture specialist Cachet Financial Solutions has expanded its partnership with Ingo Money Inc.
Sepa Consultancy develops Simulator
Sepa Consultancy has launched the Intraday Liquidity Simulator, a liquidity dashboard solution that provides a timeline of events, outcomes and actions in multiple currencies.
EU Lawmakers Propose Tighter Regulations for Mobile Wallets (Sept. 29, 2014)
The Presidency of the Council of Ministers, the European Union law-making body, has recommended tightening regulations regarding customer authentication and protection of sensitive payment data related to mobile wallets, according to its recently released proposal of the revised Payment Services Directive.
Emerchants Acquires Store Financial UK Arm for $21.7 Million (Sept. 29, 2014)
Australian prepaid provider Emerchants Ltd. has made a bold move into the European market, acquiring Store Financial Services UK for AUS$24.9 million (US$21.7 million).
Bitcoin: Currency or Commodity? (Sept. 29, 2014)
The U.S. Commodity Futures Trading Commission will hold a public meeting next week to discuss Bitcoin and the CFTC’s jurisdiction regarding derivatives contracts that reference the decentralized digital currency.
Changing the world
Change is a theme at this year’s Sibos. But what type of change? A cross-section of delegates discuss what they think will be the main disruptive forces in their part of the business.
Blackhawk Network Acquiring Parago for $290M (Sept. 25, 2014)
Blackhawk Network (NASDAQ: HAWK and HAWKB) today announced it’s acquiring Dallas-based consumer incentives firm Parago Inc., continuing an acquisition streak that’s advancing the prepaid and payments network’s reach into new markets within the corporate and consumer incentive space.
Green Dot Launches GoBank Checking Account Exclusively at Walmart (Sept. 25, 2014)
Green Dot Corp. (NYSE: GDOT) reinforced its position yesterday as a full-service financial products and services provider with the announcement of a nationwide rollout of GoBank, a checking account product available exclusively at U.S. Walmart stores.
Show the Industry You’re a Winner; Submit Nominations for the 2015 Paybefore Awards (Sept. 24, 2014)
It’s time to pick your categories to win in Paybefore Awards 2015.
Visa Boosts Technology Strategy with Recruitment, Tech Facility (Sept. 25, 2014)
Visa Inc. is bolstering its technology resources by creating 2,000 full-time technologist positions and opening a technology development center in India next year.
MPIW Backs Tokenization, Calls for Coordination (Sept 25, 2014)
A key payments industry group is throwing its support behind tokenization—with a few caveats as to the hurdles that remain before broad industry adoption can occur, including coordinating different tokenization models.
Clinkle a Clunker? (Sept. 25, 2014)
After three years in “stealth mode”—and $30 million in venture funding—once-hot mobile payments startup Clinkle has finally launched, but with a drastically scaled back platform.
GAO: CFPB’s Data Collection Security Procedures Need Improvement (Sept. 25, 2014)
The Government Accountability Office (GAO) has determined that the CFPB must take additional measures to mitigate risk of “improper collection, use or release of consumer financial data,” according to a recently released report.
60 Minutes Skewers ‘Gov’t Bureaucracy’ on Tax Refund Fraud; Highlights Role of Prepaid (Sept. 23, 2014)
If you were watching 60 Minutes on Sunday night, your heart probably stopped during the story on “The Tax Refund Scam.”
Citi Mobile Challenge Launches to Fuel Innovation (Sept. 23, 2014)
Citi this week launched Citi Mobile Challenge, a global competition to facilitate new concepts among technology developers surrounding mobile banking and payments.
E-Payments Surge in Nigeria, but Challenges Remain (Sept. 23, 2014)
Electronic payments are growing fast in Nigeria, with the total volume of e-payments reaching a new high of N10.85 trillion (US$ 62.2 billion) in 2013, according to data from the country’s central bank.
Citi seeks developers in global mobile banking challenge
Citi has launched a global mobile challenge that it says will help to inspire technology developers to reimagine mobile banking and payments. The bank plans to host a series of events in Miami, New York and Silicon Valley in November, after which finalists will get the chance to bring their product to market with help from Citi.
‘Banking’ the Unbanked with Direct Express (Sept. 22, 2014)
The U.S. Department of the Treasury’s Direct Express Debit MasterCard program now serves nearly one-quarter of the nation’s entire unbanked population, a recent cardholder survey confirms.
Canada’s Supreme Court Raises BIG Federal Preemption Issue (Sept. 22, 2014)
Did Canada’s Supreme Court just create a significant regulatory issue for the country’s prepaid issuers? According to at least one prominent Canadian attorney who’s following the court’s decisions, it appears quite possible—although more investigation is needed.
Alibaba Sets Record with $25 Billion IPO (Sept. 22, 2014)
Last week’s initial public offering of Chinese e-commerce giant Alibaba Group exceeded even the outsized expectations of most observers, raising $25 billion and setting a new world record for an IPO.
Home Depot Says 56 Million Cards at Risk, Eliminates Responsible Malware (Sept. 22, 2014)
After Home Depot confirmed earlier this month it was the victim of a customer data breach affecting shoppers at its U.S. and Canadian stores, the home improvement retailer confirmed late last week that as many as 56 million payment cards are at risk.
Blog: ‘Banking’ the Unbanked with Direct Express
The U.S. Department of the Treasury’s Direct Express Debit MasterCard program now serves nearly one-quarter of the nation’s entire unbanked population, a recent cardholder survey confirms.
Green Dot Nabs Tax Refund Processor for $320 Million (Sept. 18, 2014)
Green Dot Corp. has entered an agreement to acquire Santa Barbara Tax Products Group (TPG), the largest consumer tax refund processor in the U.S., for $320 million.
Introducing Andrew Buckley, Head of Core Products for MasterCard in Europe (Sept. 18, 2014)
Paybefore was invited to sit down with Buckley, who joined the payments network 15 months ago, during MasterCard Europe’s prepaid conference, which concluded yesterday in Budapest.
NGC Expands into Europe, Buys Majority Stake in Revive Prepaid Management (Sept. 18, 2014)
National Gift Card Corp. (NGC), a Crystal Lake, Ill.-based marketer and supplier of gift cards for use in loyalty, incentive and rewards programs, today announced it’s expanding operations, retail partners and customers to Europe.
Simple Adds Touch ID, Support for Android Wear (Sept. 18, 2014)
Electronic banking provider Simple has added support for Apple’s Touch ID and Android wearable devices.
Introducing Antonia Stroeh: MasterCard’s New Head of Prepaid Product Development for Europe (Sept. 17, 2014)
During Day Two of MasterCard Europe’s prepaid conference, Paybefore met with Antonia Stroeh, the payment network’s new head of prepaid product development for Europe.
InteliSpend Launches MasterCard Prepaid Line in Canada (Sept, 17, 2014)
InteliSpend Prepaid Solutions is bringing its MasterCard corporate and incentives prepaid products to Canada, the company has announced.
Apple Pay Coming to China (Sept. 17, 2014)
Apple and China UnionPay Co. have struck a deal to bring Apple Pay, the wallet app featured on the new NFC-enabled iPhone 6 and Apple Watch, to China.
Kalixa, Millicom Form JV to Serve Africa and Latin America (Sept. 17, 2014)
Luxembourg-based telecom Millicom and Kalixa, a London-based payments service provider and 2014 Paybefore Awards Europe winner, have created a joint venture to develop a payments service provider to operate in Africa and Latin America.
Viewpoint: The One Who Enrolls Is the One Who Controls
The most effective strategy for retailers to thrive in an omnichannel age is to enroll customers for payment in their own mobile shopping apps.
