Mercury Payment Systems, a Vantiv company that provides payments technology and services for small and midsize businesses, has received two awards for its customer service.
paysafecard, a global provider of prepaid online payment methods and member of the international Skrill Group, has hired Jan Marc Külper as the company’s vice president of business development.
Payments services and processing provider PreCash Inc. has promoted Blair Jeffrey to chief operating officer.
Senate Banking Committee Chairman Richard Shelby (R-Ala.) has announced the incoming chairs of the Senate Banking Committee’s subcommittees.
John Walsh, CEO of risk management and AML advisory firm SightSpan Inc. and Cyrus R. Vance Jr., the District Attorney of New York County, will present on topics related to financial crime risk management, including corporate security and counter-terrorist financing, at this year’s ACFCS Conference in New York City in April 2015.
D. Reed Freeman Jr. has joined law firm WilmerHale as a partner and co-chair of the firm’s cybersecurity, privacy and communications practice.
Vantiv Inc., a provider of payment processing services and related technology solutions for merchants and financial institutions, has announced that Kim Martin will join the company as chief human resources officer.
Prepaid issuers aren’t the only ones confused by the potential implications of the FDIC’s recent FAQs on brokered deposits. The agency offered some clarifications to ABA staff but recommends issuers reach out to their examiners with specific questions.
It’s no secret that more bulge bracket trading desks are turning to online intelligence – predominantly social media – to obtain breaking news and views ahead of traditional wires. Yet, with constant pressure to get the edge over competitors, other departments of major investment banks will start following the trading floor’s lead.
Apple Pay clearly has awakened consumer curiosity about mobile payments, but the surprise is it’s also generating unprecedented retailer interest in adding NFC acceptance at the POS, according to payments industry panelists speaking yesterday at the Mobile Payment Leadership Summit in Phoenix.
The Center for Financial Services Innovation (CFSI) has expanded its Compass Guide series with today’s release of its Compass Guide to Payroll Cards, which it says defines best practices and product features for high-quality payroll cards.
M&A activity and global expansion of prepaid continue this week with Toronto-based gift card processor Givex announcing plans to acquire Chase Paymentech’s gift card business and open an office in Dallas. Meanwhile, U.K.-based Tuxedo Money Solutions is partnering with Silicon Valley-based processor i2c Inc. for international expansion of its prepaid business, including entering the U.S. market.
The Federal Reserve this week issued a new report, “Strategies for Improving the U.S. Payment System,” outlining a plan to enhance the overall speed, safety and efficiency of the nation’s payment system with collaboration from payment industry participants including businesses, payment card networks, processors, payment technology firms, consumers and financial institutions.
Securities market regulators are beginning to clamp down on market abuse linked to complex high-frequency trading strategies – but there is much more to be done, according to a new report by financial consultancy Kinetic Partners.
The National Technical Information Service has extended by 60 days the comment period for its proposed rule to establish a certification program for access to the Death Master File. The new deadline is March 30, 2015.
Apple Pay continues to make major inroads just three months into its existence, Samsung preps to challenge and Google gains 200,000 online merchants.
Ditching high-overhead bank branches in favor of mobile-centric financial services is an idea that’s catching on across geographies. The latest entrant is Berlin-based startup Number26, which provides a mobile app and debit MasterCard, real-time transaction records, email or text-based P2P transfers and app-based card management, as well as foreign transactions—all at no cost.
Bitcoin-wallet provider Coinbase today announced the launch of what it describes as the first regulated bitcoin exchange based in the U.S., adding some stability to the much-hyped and often maligned digital currency.
Microsoft founder Bill Gates and his wife Melinda are betting that mobile banking is one of four transformative events that will improve the lives of the world’s poorest citizens by 2030.
Consumers in both developed and developing countries have embraced their mobile devices to check balances, make payments and conduct other financial activities. As a result, mobile banking has become a must-have offering for financial institutions. However, many are still working out how to go beyond the basics to add value for customers, increase engagement and maximise the return on the mobile channel investment.
With a string of client projects in flight, the immediate effects of the financial crisis weren’t a problem for Dublin-based Information Mosaic, but as projects that had run for two or more years started coming to an end, things got a little tougher. Fortunately, the company has one major shareholder that has both funds and a long-term view …
Buy-side block trading network Liquidnet has launched a new platform called Liquidnet 5, which it says will help to cut down on conflicts that might affect best execution. The move is part of a wider shift as the buy-side seeks to claim more independence from the sell-side.
With the newly seated 114th Congress in its third week, the House Financial Services Committee (HFSC) has laid out its agenda for the upcoming term, including several items with potential implications for the prepaid and emerging payments industry.
Tax time is always busy for prepaid card providers seeking to encourage consumers to have their refunds loaded onto prepaid cards for faster delivery. This year, Walmart is offering a different delivery mechanism—cash.
Ingenico Group, which already owned a controlling interest in m-POS provider ROAM, has purchased the remainder of the company and is now its sole owner, the France-based POS hardware maker announced this week.
Monitise plc has put itself on the block after missing recent sales growth targets, the U.K.-based mobile payments technology firm announced today.
E-commerce giant Amazon ended the beta test of its mobile wallet app this week, but didn’t say whether it was shuttering the wallet for good.
Retailo GmbH—the German subsidiary of Blackhawk Network—has struck a deal with Berlin-based Deutsche Kreditbank AG to offer digital gift cards to the bank’s customers.
First Data is working with UL, a payment security and compliance leader, to help U.S. merchants prepare for the EMV migration.
Nine months out from the October 2015 U.S. EMV liability shift, more than half of all merchants aren’t fully ready to accept chip cards, according to a study ACI Worldwide released today.
The Bancorp Inc., parent of The Bancorp Bank, disclosed last week in a short regulatory filing that it reclassified deposits as “brokered” as a result of FAQs issued by the FDIC on Dec. 24, 2014. The FAQs—which, for practical purposes, have the effect of a rule of law—require reclassification of deposits underlying many types of prepaid cards, as newly documented by the FDIC.
A range of social, political, cultural and economic factors drives cyber attacks. How well banking and financial institutions understand the drivers for an attack and how effectively they respond in the 48 hours following the discovery of an attack has a major effect on the resultant impact.
FX services provider CLS Group and OTC derivatives specialist TriOptima are collaborating to launch an FX forward compression service, which they say will help customers to meet the regulatory obligation to use compression for non-centrally cleared OTC derivatives if possible.
The U.S. Supreme Court today said it would not hear retailers’ challenge to the Federal Reserve’s debit card interchange fees, enforcing a lower court’s decision to keep existing regulations in place.
A year after JPMorgan Chase announced plans to exit its corporate and public sector prepaid business, Citigroup Inc. told investors last week it’s transferring Citi Prepaid Services to Citi Holdings, where the business line will be groomed to become a free-standing entity.
Google Wallet is reportedly in talks to buy NFC-based mobile wallet rival Softcard, causing speculation about how the combination might stack up against Apple Pay and other emerging wallet concepts.
The CFPB is accepting applications to fill seats on three separate committees. The CFPB announced the openings in a notice in the Federal Register late last week.
In declining to review the decision of the U.S. Court of Appeals for the District of Columbia, the controversy over the Fed’s interchange fee cap is over. Read more later today in Pay News.
Bitcoin market Netagio has launched credit and debit card payment options, as part of a push to make it easier to buy and sell Bitcoin with pounds, euros and US dollars. The exchange, which was founded in 2013, is seeking to popularise the alternative currency and improve its controversial public image.
Overall sales from the holiday sales season rose a healthy 4 percent, reaching their highest level since 2011, the National Retail Federation (NRF) announced this week.
