People on the Move: Alex Teoh and Robin Khuda, Mint Wireless Ltd.
Mint Wireless Ltd., an Australia-based mobile payments and transaction processing company, has appointed Alex Teoh executive chairman and Robin Khuda CEO.
PayTech
People on the Move: Steven Kane, John DeCastro and Kimberly Autry, Retail Gift Card Association Board
The Retail Gift Card Association, a trade association of closed-loop gift card retailers committed to promoting and protecting the use of gift cards, announced the election of three new members to its board of director.
People on the Move: Christopher J. Meinerz, Spindle Inc.
Spindle Inc., a provider of mobile commerce solutions, announced it has appointed Christopher J. Meinerz chief financial officer and chief compliance officer.
People on the Move: Kelly Mahon Tullier and Ellen Richey, Visa Inc.
Visa Inc. has announced that Kelly Mahon Tullier will join the company as executive vice president and deputy general counsel. Ellen Richey, chief legal officer, chief risk officer and member of the executive committee, will continue in those roles through Sept. 30, 2014, when she will become vice chairman, risk and public policy.
The Future of Payments: towards a vision for 2020
While the payments landscape has evolved rapidly over the past decade, due to a flurry of innovation and regulation, expansive growth in electronic payments and the inclusion of new market entrants, industry research indicates that the next decade will be a period of even faster changes.
A Square Deal? (April 24, 2014)
First the Wall Street Journal reported in November that Square Inc. was considering an IPO. Then acquisition rumors swirled after the newspaper reported this week that Square had been in M&A talks with companies including Google, Apple and PayPal.
Survey: Shoppers Unaware, Uncomfortable with Certain Mobile Technology (April 24, 2014)
Consumers may be embracing mobile apps, but that doesn’t necessarily mean they’re comfortable with or even aware of what their apps can do, a new study suggests.
LevelUp Trims Transaction Fees to Woo More Merchants (April 24, 2014)
LevelUp is tinkering again with the transaction fees it charges merchants for participating in its mobile wallet, cutting the cost from 2 percent to 1.95 percent as the SCVNGR-owned company seeks an appropriate balance for its bottom line.
India’s Central Bank Pushes for Enhanced Security (April 24, 2014)
The Reserve Bank of India (RBI) has released a final committee report on enhancing security in the country’s electronic payments sector with the use of Public Key Infrastructure (PKI) technology.
Mobile payments push past 20% of transactions says PSP
Payment services provider Adyen has reported that one in five payments made on its network are now being made using a mobile device – a finding that reflects the rise of mobile payments worldwide, according to the firm.
Google Wallet’s HCE Push Making NFC Believers (April 23, 2014)
While Google Wallet forges partnerships with merchants that don’t rely on NFC, one of contactless payments’ most high-profile skeptics may be coming around to seeing some real potential in the technology.
One4all Opens Up to SMEs in Northern Ireland (April 23, 2014)
Gift Voucher Shop is opening its One4all multistore gift card program to independent retailers in Northern Ireland.
PIF Calls for Provision Clarifying AML Processes for E-Money Products (April 23, 2014)
London-based Prepaid International Forum this week published a position paper outlining its concerns about certain provisions in the European Commission’s draft 4th Anti-Money Laundering Directive.
Campus Cards Go Mobile with Heartland’s OneCard Mobile App (April 23, 2014)
As campus identification cards doubling as reloadable prepaid cards become more prevalent on college campuses, they’re also becoming more integrated into student life via smartphone.
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.
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
