After adding a loyalty component to its mobile wallet last month, Canada-based suretap is working with mobile technology provider and sister company EnStream to test a program with the Société de transport de Montréal enabling commuters to pay transit fares using their mobile wallets.
The number of CFPB employees grew to 1,529 in 2015, from 1,443 the previous fiscal year, according to the agency’s financial report for the 2015 fiscal year, ended Sept. 30. The CFPB collected civil penalties totaling $183.1 million from 37 cases in 2015—a substantial increase from the $77.5 million collected in 2014.
The CFPB has denied UniRush’s petition to narrow the scope and extend the time the company has to produce documents for a bureau investigation following an October system outage that left some RushCard cardholders without access to their account information and, in some cases, their funds.
As the global e-commerce market surges to $2.4 trillion by 2019, 23 percent of this total is expected to come exclusively from mobile devices, according to a recent study by Worldpay. The results for prepaid are a mixed bag, with closed-loop vouchers/cards booming and network branded card e-commerce volume expected to decline.
Hardware issues are to blame for a brief outage of First Data’s ability to process certain credit and debit cards Friday.
The online retail numbers keep rolling in as the holiday shopping season launches into high gear, and more shoppers than ever are making purchases online.
During a Dec. 2 press conference with Georgia Governor Nathan Deal and Atlanta Mayor Kasim Reed, InComm announced it will remain in its Atlanta headquarters and invest $20 million in facilities and equipment as well as hire an additional 275 employees in the state.
Boasting more than half of Indonesia’s 255 million people as wireless customers, mobile network operator Telkomsel Indonesia is tapping Mozido to help it entice more of its 140 million customers to use its mobile wallet.
Deciphering how the CFPB handles consumer complaints—and ultimately decides to take action against a company—can be difficult. During a recent Webinar, Tristram Wolf, a Ballard Spahr associate and former CFPB attorney policy writer and investigator, joined colleagues in offering an inside look at the complaint process and tips for staying out of the CFPB’s crosshairs.
Target is moving another step forward in its attempts to put its 2013 data breach behind it.
In a Congressional hearing yesterday, lawmakers examined the role mobile payments technologies are playing in disrupting traditional payments, paying particular attention to how mobile has increased payments security and enabled small businesses and underbanked consumers to access electronic payments.
Samsung Pay has expanded its roster of supported payment cards with the addition of eight new card issuers.
Competition for consumers looking to get their doughnut and coffee fix, among other offerings, has heated up with this week’s announcement of Krispy Kreme’s new loyalty app.
The UK’s Payment Systems Regulator has published draft guidance on its plans for regulating new European payment card legislations that comes into force next week.
A new digital banking startup has received a U.K. banking license, adding another challenger to the growing ranks of financial services providers seeking to contest the dominance of established banks. Tandem Bank is just the second digital-only bank to earn a license from the Bank of England, following Atom Bank, which was licensed in June.
The pressure to build scale rises with new competitors—Android Pay, Samsung Pay and CurrentC—joining Apple Pay in the emerging m-payments fray. Will consumers climb aboard? How they’re using m-payments so far, may tell the tale.
U.S. shoppers flocked to physical and online stores during the Thanksgiving weekend, with more than 151 million Americans shopping in-store and/or online, based on data from the National Retail Federation. The shopping frenzy is expected to continue, with Cyber Monday deals projected to drive 121 million U.S. consumers to shop online. Average spending per shopper was $299.60, and gift cards were especially popular, comprising a whopping 76.6 percent ($229.56) of that average total.
As consumers take to their computers and mobile devices in the hopes of getting great deals today and throughout the holidays, shoppers could fall prey to identity thieves and other scams. To thwart such crimes online and in stores, Visa has kicked off an educational campaign for issuers, merchants and consumers about the network’s security efforts.
Instant payments are a step closer to becoming a reality in Europe, now that the European Payments Council (EPC) has submitted and received approval on its proposal for the design of a pan-European instant credit transfer framework.
Despite predictions over the last few years that banks were just a heartbeat away from adopting cloud technology, only 1% of banks are actually running core processing in the cloud today, according to a new report by Temenos.
Blackhawk Network continues to expand its gifting offerings and global reach with the purchase of DIDIX Gifting & Promotions, a Netherlands-based provider of leisure-themed prepaid gift and promotional cards.
It may be Black Friday this week, but it’s also the deadline to comment on potentially harmful payroll card regulations pending in the state of New York.
Following a federal court’s ruling earlier this year that American Express violated anti-trust laws by prohibiting merchants from encouraging customers to use alternate payment methods, San Francisco’s City Attorney has filed a lawsuit against the payments network, seeking billions in penalties and damages as part of a statewide consumer action.
Ballard Spahr has hired James Kim, a consumer financial services litigator and regulatory attorney.
Creditcall Ltd, an omni-channel payment gateway and EMV migration specialist, has appointed David Butler vice president of operations.
Emergent Payments, a global payments company, announced the hiring of Rossini Zumwalt to strengthen the company in fraud prevention, and compliance and risk management of digital payments in emerging markets.
Keisha Whitehall Wolfe has joined the consumer financial services group as counsel from the office of the commissioner of financial regulation (OCFR) within Maryland’s department of labor, licensing and regulation.
Saxo Payments, a global transaction services provider, appointed Paul Townsend as non-executive director.
Gene Fredriksen, PSCU’s chief information security officer (CISO), was named CISO of the Year by the Tampa Bay Technology Forum (TBTF) at its 12th Annual Industry Achievement Awards Gala.
The Western Union Co., a global payment services provider, has appointed of Elizabeth G. Chambers to the newly created role of chief strategy and product officer.
Apple Pay’s long-awaited arrival in China could be just months away, with the mobile payments service slated to launch in the country by early February 2016, according to a report. Meanwhile, Germany’s Wirecard has launched a new Android-based NFC mobile wallet in four European countries.
French officials are calling for tighter regulation of prepaid products in the European Union, claiming that prepaid cards were in preparation for the terrorist attacks in Paris earlier this month. The proposal to tighten prepaid regulation is part of a broader initiative to combat terrorist financing.
A new study from the Federal Reserve Bank of Philadelphia finds, not surprisingly, that consumers affected by a data breach are much more likely to opt for fraud protection, while those consumers who are unaffected or only hear news about breaches are less likely to use fraud prevention services.
Bitcoin may be a step closer to going mainstream now that Coinbase is partnering with Shift Payments to launch a Visa-branded bitcoin debit card that lets users spend the funds in their bitcoin wallets anywhere Visa is accepted.
The payments world is contracting a bit more as U.S. ATM manufacturer Diebold is getting significantly larger, announcing its plan to acquire German-based Wincor Nixdorf for approximately $1.8 billion, or €1.7 billion, creating the largest global ATM supplier.
Five months after Apple Pay’s arrival in the U.K., the contactless payments service is working with London’s transit authority and MasterCard to drive Apple Pay usage for mass transit by offering free rides on Mondays, starting today and running through Dec. 14. Meanwhile, Visa Europe is doing its part to promote Apple Pay in the U.K. with a two-month advertising campaign touting its integration with the payments service.
The CFPB announced in a Nov. 20 blog post that it has updated its regulatory agenda, including the schedule for its final rule on prepaid accounts, which now is expected to be released in March 2016. Several lawmakers have expressed concern over the CFPB’s broad proposed rulemaking on prepaid, noting that consumers, including those that rely on overdraft and government benefits, may be harmed if the rules go too far.
After much prognostication regarding when Square would finally announce its IPO, the m-payments service provider began trading this morning on the New York Stock Exchange under the symbol SQ.
It may be Black Friday next week, but it’s also the deadline to comment on potentially harmful payroll card regulations pending in the state of New York.
London-based Prepaid Financial Services (PFS), an e-money issuer that specializes in acquiring, prepaid and alternative banking solutions, has sold 5 percent of the company to a strategic investor after being valued in excess of £50 million (US$76.5 million).
