Facebook P2P Service Goes Nationwide (July 1, 2015)
Facebook’s mobile P2P payments service now is available throughout the U.S., the social media giant announced this week.
Worldwide
Square’s New Revenue Stream: Payroll (July 1, 2015)
Square continues to diversify its revenue streams, recently adding electronic payroll to its roster of services for small and midsize business customers.
Santander and Monitise Form Joint Venture to Spark Fintech Innovation (July 1, 2015)
Spanish banking titan Santander and U.K.-based mobile banking firm Monitise today announced the formation of a joint venture to launch new fintech startups in their own backyards, using the companies’ combined strategic and technical resources.
DTCC Data Products to centralise data provisioning and access
Post-trade market infrastructure the Depository Trust & Clearing Corporation has launched a new centralised data provisioning service, DTCC Data Products and expanded its exchange traded funds and ISO 20022 corporate actions data offerings.
The Talented Mr Ripple
Chris Larsen, chief executive of Ripple Labs, talks about his concept of the Internet of Value, and why his company is not a disruptor …
Cloud: lit from within
Cloud-based technologies are spreading rapidly through the business world: the research firm IDC expects the cloud software market to be worth more than $100 billion by 2018, implying compound annual growth of more than 21%, roughly five times faster than traditional packaged software. It is clear that cloud computing is on course to become an […]
Europol Busts Cybercrime Ring, Enlists Barclays to Fight Attacks (June 30, 2015)
Cybercrime investigators from six European countries joined forces and recently busted a large gang of cybercriminals that had used malware in a widespread attack on online banking systems across the Eurozone, resulting in losses of at least €2 million (US$2.22 million), according to Europol, the EU’s law enforcement agency.
Wirecard Gives Retailer Apps a Boost with More Functionality (June 30, 2015)
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.
Chase Adds Bill Pay to Liquid, Expands Checking Access (June 30, 2015)
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.
Cardpool, Changefindr Partner for Philanthropic Effort (June 30, 2015)
Gift card exchange and Blackhawk Network subsidiary Cardpool is helping consumers turn their unused digital and plastic gift cards into charitable donations.
CFPB Complaint Database by the Numbers: Prepaid-Related Complaints Make up Less than a Quarter of 1 Percent of Total
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.
PayPal Approved to Go Solo under Stock Ticker ‘PYPL’ (June 29, 2015)
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.”
Featured Videos: Inside Alibaba; PayPal’s Place in the Digital Ecosystem; Meet the Winners from EMERGE
Check out the latest clips in our Featured Videos section.
Supreme Court Upholds Affordable Care Act Tax Credits (June 25, 2015)
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.
Canada’s suretap Gets Support from More Wireless Carriers, CIBC (June 25, 2015)
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.
India’s War on Cash Continues with New Tactics (June 25, 2015)
The Indian government’s efforts to shift the country’s economy away from cash have taken a significant step forward.
People on the Move: Brad Fauss, NBPCA
The NBPCA has announced that Brad Fauss has been elected to serve as its new president and CEO.
People on the Move: Brian M. Axell, Lindquist & Vennum
Brian M. Axell has joined the law firm Lindquist & Vennum LLP as partner in the financial institutions practice in the Minneapolis office.
People on the Move: Hiang Choong, Ling Hai and Ari Sarker, MasterCard
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.
People on the Move: Earvin “Magic” Johnson, Square Board
Square Inc. has announced that business leader, philanthropist and basketball hall of famer Earvin “Magic” Johnson will join its board of directors this summer.
People on the Move: Keith Pierce, TSYS
TSYS has promoted Keith Pierce to executive vice president for relationship management.
People on the Move: Phillip Manning and Dale Jensen, Virtual Piggy Board
Virtual Piggy Inc. has appointed Phillip Manning and Dale Jensen, to its board of directors.
People on the Move: Lloyd A. Carney, Visa Board
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.
People on the Move: Jochen Siegert, Traxpay
Traxpay, a B2B payments solutions provider, has appointed Jochen Siegert chief operating officer.
Green Dot Shares Jump Following 5-Year Walmart Renewal (June 23, 2015)
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.
Despite Sale of E-Commerce Site, Alibaba Still Keen on U.S. Market (June 23, 2015)
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’s New Block Platform Takes Blockchain beyond Currency (June 23, 2015)
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.
Banking Technology Forum 2015 afternoon sessions: mobile, regulation data and cyber
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
Dunkin’ Donuts Boosts Mobile App with Visa Checkout in Coffee Giants’ M-Payments Race (June 22, 2015)
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 AG Wants RadioShack Gift Card Holders First in Line (June 22, 2015)
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.
U.K. Eyes Increased Protection for Gift Card Holders in Insolvencies (June 22, 2015)
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.
Swift splits the world in two
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.
Blog: 5 Ways to Make Prepaid Card Onboarding Less Painful for Consumers
Identity verification by financial institutions is necessary—but it doesn’t have to be a necessary evil. Combining mobile technology with knowledge-based authentication can help improve activation rates with a process that’s simple for the cardholder and secure. Here’s how.
Blog: Goodbye Passwords, Hello Biometrics
As the consumer demand for remote login and flexibility continues to rise, organizations are struggling to find and deploy authentication methods that are effective, easy to use, impervious to theft and scalable. Say hello to biometrics.
Report: M-Commerce Strong in Asia-Pacific; China, India, Taiwan Leading the Way
Mobile shopping is growing fast in the Asia-Pacific region, according to a newly released study by MasterCard.
CardHub Research Indicates There’s a Right Prepaid Card for the Right Scenario (June 17, 2015)
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.
HSBC sees boom in use of mobile among corporate customers
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.
Funds Transfer Pricing: confronting a mosaic of risk
The need for financial institutions to accurately gauge their exposure to myriad sources of risk has seldom, if ever, been greater. The credit crisis toward the end of the last decade must have made that clear, and if bankers managed to avoid getting the message back then, the point has been driven home ever since by regulators around the world
Lessons from D.C.: Relationships Matter; Highlight Consumer Benefits (June 16, 2015)
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.
Pan-European Data Protection Reform on Track for 2015 Adoption (June 16, 2015)
European lawmakers will meet next week to agree on a road map toward finalizing data protection reform this year.
