Liquidnet poaches Wells Fargo’s Garrett as US technology head
Buy-side block trading venue Liquidnet has appointed former Wells Fargo Securities equity trading boss Bob Garrett as its new head of technology, based in New York.
Worldwide
Paybefore Announces Winners for European Awards (April 22, 2014)
The roars from the kings of the payments jungle have been heard. Today Paybefore reveals the winners in 2014 Paybefore Awards Europe.
Reloadit Adds Digital Storage, Multi-Card Loads, Bill Pay (April 22, 2014)
Blackhawk Network is expanding the utility of its reload network beyond single card reloads.
WU, NetSpend to Team on New Prepaid Card (April 22, 2014)
The GPR card space is about to get more crowded as two prepaid veterans join forces.
Serve Adds Walmart to Free Cash-Reload Network, Kicks Off TV Campaign (April 21, 2014)
American Express today announced it’s adding Walmart as a distribution and reload partner for its Serve digital prepaid account, and this week will kick off its first TV commercials for the product.
Shazam Inks Debit EMV Deal with Visa, Furthering Industry Alignment (April 17, 2014)
Shazam Network and Visa Inc. have reached an agreement for routing EMV debit transactions using Visa’s common debit application identifier (AID) for Visa- and Shazam-branded transactions, the Des Moines, Iowa-based debit network announced April 16.
Walmart Touts New Money Transfer Service as Simple, Inexpensive (April 17, 2014)
Walmart moved further into financial services with its announcement today of its Walmart-2-Walmart Money Transfer Service, which enables customers to transfer money from one store to another at more than 4,000 U.S. Walmart locations.
Is Identification the Killer App for Mobile Wallets? (April 17, 2014)
The thus-far sluggish rate of mobile wallet adoption in the U.S. has been attributed to a range of factors, from security concerns, to lack of widespread merchant acceptance to the familiarity and convenience of traditional plastic payment cards. But according to a new report from TSYS, what might be holding mobile wallets back has less to do with the mobile and more to do with the wallet.
ICMA Recognizes Leaders in Card Manufacturing (April 17, 2014)
The International Card Manufacturers Association (ICMA) celebrated leaders in the card manufacturing industry last week, presenting its Élan Awards for Excellence at the annual Card Manufacturing and Personalization EXPO in Fort Lauderdale, Fla.
Baidu Enters China’s Competitive Mobile Wallet Market (April 17, 2014)
Baidu Inc., China’s version of Google, has entered the mobile wallet arena, pitting the country’s most popular search engine against the likes of Alibaba and Tencent Holding Inc., both of which launched mobile wallets last year.
Citi launches block pricing tool on Bloomberg App Portal
Citi has launched an electronic block pricing tool via the Bloomberg App Portal, marking the first time a major tier one broker has ever used the Portal to deploy an application around the world.
Blog: PIF Comments on RBI’s Revised Prepaid Guidelines
Industry players welcome the guidance to bring the legal framework for prepaid under a single policy document that leaves little room for ambiguity, and industry continues to advocate for further reforms that will help drive growth of prepaid products to benefit Indian citizens.
Blog: Prepaid Mania Catches On
Just in case there was any doubt among the critics, skeptics and the media, new numbers prove the value of prepaid cards to merchants and consumers. In 2014, retail purchases made with prepaid cards will top US$200 billion, equaling 5 percent of all retail spending in the U.S. Now, merchants are looking for ways to capitalize on the popularity.
For Prepaid Providers, Budgeting Equals Opportunity (April 15, 2014)
Personal budgeting is an effective method for consumers to build a strong and stable financial future. Yet, for many, staying on budget is a constant struggle.
FTC Calls for Greater Authority over Data Security
FTC calls for data security legislation to address recent increase of data security breaches.
Viewpoint: Important Changes to Canada’s AML Laws: Here We Go Again
A new Canadian bill proposes regulations on virtual currencies, cross-border MSBs, due diligence requirements, politically exposed persons and group-wide information sharing.
European E-Money License Could Grow Facebook’s Remittance Biz (April 14, 2014)
Facebook is putting the pieces in place to launch a money transfer service in Europe.
Illinois Payroll Card Legislation Moves to the Senate (April 14, 2014)
The Illinois House last week approved legislation that, if signed into law, might affect companies’ payroll card programs, beginning Jan. 1, 2015, when the new rules would take effect.
Heartland Grows School Payments with MCS Buy (April 14, 2014)
Payments processor Heartland Payment Systems has acquired MCS Software, a provider of school foodservice payment solutions at 4,000 K-12 schools across the U.S.
People on the Move: Nadia Dombrowski, Davis Wright Tremaine LLP
Nadia Dombrowski has joined the payments practice at Davis Wright Tremaine LLP as a partner in the firm’s New York office.
People on the Move: Rick Oglesby, Double Diamond Group LLC
Payments industry consulting firm Double Diamond Group LLC has hired Rick Oglesby as senior research analyst and consultant of the recently launched Double Diamond Payments Research, a research division focusing on merchant acceptance trends and analysis.
People on the Move: David Dorman, eBay Inc. Board of Directors
eBay Inc. has announced the appointment of David Dorman as an independent director to the company’s board of directors.
People on the Move: Michael Manos, First Data Corp.
First Data Corp., an Atlanta-based payments processor, has appointed Michael Manos as chief technology officer, responsible for First Data’s global technology infrastructure.
People on the Move: Samir Zabaneh, Heartland Payment Systems
Heartland Payment Systems, a Princeton, N.J.-based merchant processor, has hired Samir Zabaneh as chief financial officer.
People on the Move: Nancy Ann Barnhart, JetPay Payment Services
JetPay Payment Services, a division of JetPay Corp., has appointed Nancy Ann Barnhart chief information officer.
People on the Move: Joel Leonoff, Optimal Payments
Optimal Payments, a London-based online payments and risk management provider, announced that President and CEO Joel Leonoff was named CEO of the year at the U.K. Stock Market Awards 2014 last month.
People on the Move: Corbin Simon, R&P Group
R&P Group, a Sioux Falls, S.D.-based payments industry recruiting firm, announced that Corbin Simon has earned the Top Producer Award (first quarter 2014) for the Sioux Falls area, from the U.S. Recruiting Network.
Breaking bit
Bitcoin is the poster child of the cryptocurrency world, but it’s not alone. Michael Mainelli and Bob McDowell take a look at the real-world implications of the rise of AltCoins
Market pressures force tech rethink on reconciliation
Global regulatory pressure and the shift to real-time processing are causing banks and major financial institutions to rethink how they handle reconciliation, according to a new report by financial research house Aite.
eBay Reaches ‘Détente’ with Investor Icahn (April 10, 2014)
eBay Inc. investor Carl Icahn has backed off his proposal for the online auction Website to spin off its PayPal subsidiary following discussions with eBay, of which he is a 2 percent owner.
FIS Solution Enables Banks to Compete with Alternative FSPs (April 10, 2014)
FIS wants to help banks in the pursuit of the coveted millennial consumer by focusing heavily on mobile banking.
MasterCard Sees Major Contactless Gains in Europe (April 10, 2014)
Contactless payments are spreading rapidly throughout Europe, according to new data from MasterCard.
Google Doubling Down on Wallet, Says Payments Chief (April 10, 2014)
Despite a somewhat bumpy rollout and several course-corrections, Google Wallet is here to stay, said the head of the tech giant’s payment division.
Improving data governance and ensuring data ownership
New regulations requiring financial institutions to increase the amount of data fields they have on their customer records and swingeing fines imposed when processes and data are found to be inadequate have triggered an increased focus on data governance.
U.S. Top Cop Warns of Digital Currency Dangers (April 9, 2014)
More federal regulations may be on the way for digital currencies after U.S. Attorney General Eric Holder told lawmakers of his concerns about Bitcoin and other digital currencies as potential tools for criminals.
Report: Merchants Want More Partners Amid Soaring Prepaid Sales (April 9, 2014)
Prepaid card sales at retail are on the rise, driven by the combined efforts of prepaid providers, processors, networks and merchants, according to a new report by Aite Group.
MPS/Chesapeake Expands Services with IPS, Jet Acquisitions (April 9, 2014)
M&A activity is on the rise in the payments industry, and the latest deal is in the card manufacturing and fulfillment space.
Firms still struggling with SEFs for swaps trading says IPC survey
Trading firms are still struggling with the Dodd-Frank requirement for certain swaps to be traded on registered Swap Execution Facilities. According to a survey conducted by trading communications vendor IPC Systems, 60% of survey respondents said the industry as a whole was behind on meeting the deadlines on SEF trading, though only 39% said their […]
BIAN adds business scenarios to banking IT standards framework
Standards consortium BIAN has released a new version of its industry standard framework containing more than 180 business scenarios including back-office, trade finance and sales.
La. Reps Favor Paper Checks over Prepaid Cards in Certain Instance (April 8, 2014)
As tax day approaches, the Louisiana House of Representatives yesterday approved a bill that would end the state’s Department of Revenue practice of automatically sending tax refunds on prepaid debit cards to taxpayers who don’t select a specific method for receiving their funds.
