The last lingering issue in the long-running legal dispute between merchants and the Federal Reserve Board of Governors over debit interchange fee caps took a step toward resolution this week, with the Fed detailing how it calculated a controversial aspect of the fee limit.
Perk.com Inc. has tapped One to Watch Paybefore Award-winning Marqeta to launch Perk Plastik, a Discover prepaid card that enables its rewards members to redeem points online and at the POS.
Financial technology investment remains hot, with several fintech providers involved in major acquisitions announced over the past week.
MasterCard, Canada’s TD Bank Group and technology provider Nymi, formerly Bionym, are getting to the heart of payments security.
Pharmacy retailer Rite Aid this week said it will resume NFC acceptance at its 4,600 stores nationwide beginning Aug. 15, following months disabling contactless payments acceptance in the wake of Apple Pay’s rollout.
Global payments stakeholders, including regulators, are getting behind ISO 20022 as the standard that eventually could enable interoperable real-time, cross-border payments.
American Express Co. this week expanded its Apple Pay connection to include corporate cards, becoming the first major corporate card portfolio to integrate with the m-payments service, the New York-based company said.
Littleton, Colo.-based card manufacturer and payments company CPI Card Group Inc. has filed preliminary paperwork with the SEC, saying it could raise up to $100 million in an initial public offering.
To compete in a mobile world, financial services providers must focus on speed, convenience and security when designing mobile banking and payments services, according to a new report.
International payments may soon be made using the ISO 20022 messaging standard for the first time, following the publication of the first draft of ISO 20022 payments messages by an industry association backed by Payments UK (formerly the UK Payments Council).
Target is tackling showrooming and hopes to increase shopper engagement with its latest test of location-based beacon technology in 50 of its stores, with a nationwide rollout slated for later this year.
PayNearMe is using its national retail footprint to enable the California Department of Child Support Services to accept cash payments for child support.
Sen. Richard Blumenthal (D-Conn.) this week sent a letter to the retail consortium Merchant Customer Exchange (MCX), which is readying the launch of its CurrentC mobile payments service, demanding details about its exclusivity policy requiring participants to block rival mobile wallets, along with other information.
BofI Federal Bank has received approval from the Office of the Comptroller of the Currency (OCC) to acquire certain assets and liabilities from H&R Block Bank.
The Office of the Comptroller of the Currency (OCC) has released new guidance for banks issuing tax refund-related products, including prepaid cards.
The CFPB has announced that Meredith Fuchs will serve as acting deputy director, replacing Steve Antonakes, who left the bureau at the end of July. David Bleicken, deputy associate director for supervision, enforcement and fair lending, will serve as acting associate director for supervision, enforcement and fair lending until a replacement is hired.
DCR Strategies Inc.| TruCash, a Toronto-based provider of prepaid and loyalty products, has launched a new brand logo and corporate Website.
The Federal Reserve has established the Faster Payments Task Force with the mission of identifying and evaluating alternative approaches for implementing faster payments capabilities in the U.S. Steering committee members of the task force recently were named.
i2c Inc. announced that industry veteran Philip Julian has joined the company as head of sales, Australia and New Zealand.
National Gift Card Corp. has announced that ngcEurope CEO Andrew Johnson was recently honored with the annual U.K. Gift Card and Voucher Association’s Lifetime Achievement Award and named to the organization’s Hall of Fame by a vote of its members.
Nomis Solutions Inc., a San Bruno, Calif.-based data and analytics company, has appointed Damian Young managing director, Nomis Europe Ltd (EMEA).
PayPal Holdings Inc. announced John D. Rainey is joining the company as chief financial officer, effective Aug. 24, 2015.
PSCU, a credit union service organization (CUSO) based in St. Petersburg, Fla., has appointed as associate directors Cathy Pace, president and CEO, Allegacy Federal Credit Union, Winston-Salem, N.C.; and Andrew Rosen, president and CEO, Hawaii State Federal Credit Union, Honolulu, Hawaii.
YellowPepper, a Latin American mobile payment and banking company, announced that Mohammad Khan, former president and founder of ViVOtech, has been named chairman of YellowPepper’s board of directors.
Green Dot Corp. is using barcode-generation technology to enable customers to add cash to their accounts using their mobile devices at more than 65,000 retailers in its reload network.
Amid Facebook’s better-than-expected, second-quarter earnings report last week, payments revenue fell 8.1 percent.
Another warning to check that your vendors apply appropriate security measures.
Both Google and RadioShack are engaged in legal battles with consumers holding unused balances on the respective company’s gift cards.
The U.S. Court of Appeals for the D.C. Circuit on July 24 revived a constitutional challenge to the CFPB and the appointment of Director Richard Cordray, overturning a 2013 decision that State National Bank of Big Spring, Texas, did not have standing in the lawsuit.
Samsung plans to launch its m-payments service Samsung Pay in Europe, by extending its global partnership with MasterCard and leveraging the MasterCard Digital Enablement Service platform to connect European card issuers to the m-payment service.
China’s central bank wants to implement regulations that would cap the amount consumers can spend online per day and per year using third-party payment accounts.
Indian mobile wallet provider MobiKwik is launching a new, Uber-like service.
Visa Inc. this week announced a new partnership with and investment in Stripe, a startup specializing in mobile and online payments technology, to work on new approaches to online payments and increasingly popular “buy buttons.”
MasterCard and Citibank India are teaming up to bring the payment network’s MasterPass digital wallet to India.
SUBWAY will launch a revamped version of its mobile app and Web ordering service, adding PayPal’s OneTouch mobile checkout as a payment option.
Santander, a financial services provider in the U.K., has made it easy for up to 100 consumers at least 18 years old to pool their funds via an app available on iOS and Android.
At the SAP Financial Services Forum in London last month, the topic of digital transformation dominated the agenda. From legacy banks with lumbering IT systems to nimble fintech startups, the consensus was clear: The long-standing status quo is simply unsustainable in an increasingly digital economy
While consumers still are using traditional methods of payment, they’re beginning to adopt digital and mobile options at significant rates, according to Blackhawk Network research released today.
Ingo Money and NetSpend today announced an agreement that will enable NetSpend prepaid cardholders to deposit checks to their accounts via smartphones by combining Ingo’s mobile check deposit capture service with NetSpend’s mobile banking platforms.
EU-wide Interchange Fee Regulation (IFR) goes into effect in December, and the U.K. government is seeking industry input on its implementation of the interchange caps and related provisions.
