Blog: Tackling Financial Literacy Is a Team Effort
Wherever you sit in the industry, you can help the end users of prepaid products (or future users) by supporting basic financial education. The key is to make it fun.
PayTech
Blog: From Atoms to Bits: The Digital Age of Money
As we move to digitize everything, the transition to digital wallets hasn’t been an easy feat. O2 recently announced it would discontinue its mobile wallet and despite efforts by industry heavyweights, mass adoption of a digital/mobile wallet still is proving elusive.
Visa and MasterCard Green-Light HCE, Giving Banks and Merchants New NFC Options (Feb. 19, 2014)
Visa and MasterCard today announced plans to support Host Card Emulation, which enables storage of card credentials in the cloud, rather than using the secure element embedded in handsets, a move observers say could reignite prospects for NFC.
Orange Cash Expands to Spain (Feb. 19, 2014)
Mobile network operator Orange is launching its Paybefore Award-winning Orange Cash prepaid MasterCard in Spain.
Executive Profile: One on One with Mark Putman, First Data
As a startup veteran with five companies under his belt, Mark Putman never foresaw his future as an executive for a large company. Today, he oversees the prepaid business at First Data Corp., one of the world’s largest payments processors, as senior vice president of prepaid solutions.
Innovators’ Spotlight: Planet Payment
A global multicurrency processor is breaking down borders to make global shopping a local experience.
Earthport launches payments route to Mexico and Colombia
Cross-border payments company Earthport has launched two new routes into Mexico and Colombia, as part of a drive to open up Latin America for faster, more efficient and transparent payments.
U.S. Bancorp, Monitise Unveil Digital Watermark-Based Mobile Shopping Platform (Feb. 18, 2014)
U.S. Bancorp and U.K.-based Monitise plc have partnered to launch a white-label mobile commerce platform dubbed Peri.
Congressional Agency Calls for Clearer Campus Card Guidelines (Feb. 18, 2014)
The Government Accountability Office is the latest government agency to scrutinize the increasingly popular campus-based debit and prepaid cards.
RBI Report Outlines Technology for Banks, Telcos to Develop Mobile Banking (Feb. 18, 2014)
The Reserve Bank of India continues to encourage development of mobile banking across its nation, where 870 million consumers have a mobile handset but fewer than half of those have bank accounts.
People on the Move: Michael McMillan, Heartland Payment Systems
Heartland Payment Systems, a Princeton, N.J.-based merchant processor, has hired Michael McMillan as chief branding officer.
Company on the Move: Calpian Inc.’s Money-on-Mobile, The Indian Merchants’ Chamber Award
Calpian Inc., a global processing and mobile payments technology company, announced that Money-on-Mobile, its India-based subsidiary and prepaid mobile payments company, has been recognized for “Excellence in Information Technology Service” by The Indian Merchants’ Chamber.
People on the Move: Mary Donovan, Nicole Willis and Erin Wood, Retail Gift Card Association
The Retail Gift Card Association, a trade association of closed-loop gift card retailers, has appointed Mary Donovan executive director, and named Kellen Company as the RGCA’s management firm.
Predicting the future in financial services
As data volumes continue to grow, being able to make greater use of the information enhances competitive advantage. The financial services industry is taking steps towards using predictive analytics technology to do just that.
Cashing out: Ontario mobile payment infrastructure is on the money
Canadians are in a hurry to get rid of their cash – at least as a method of payment, nor are they content with the contactless tap-and-go cards currently in use; they are anxious to replace cards with contactless smartphone technology, writes Aaron Rosland, senior economic counsellor for the Government of Ontario, Canada.
Amazon Goes with ‘Flow’ to Challenge Brick-and-Mortar Retailers (Feb. 13, 2014)
Amazon this month updated its iOS shopping app with a new feature called Flow, which could add rocket fuel to the “showrooming” phenomenon already affecting brick-and-mortar retailers.
MasterPass Says ‘Hola’ to Spain (Feb. 13, 2014)
MasterCard has launched its MasterPass online shopping service in Spain, the payment card network said this week.
MCX Adds Platform Provider Paydiant and Burger Chain Wendy’s (Feb. 13, 2014)
Merchant Customer Exchange (MCX), the Coppell, Texas-based, retailer-led mobile payment consortium founded in 2012, is adding Paydiant’s cloud-based platform to its mobile commerce infrastructure.
CVC Capital Finalizes 600 Million-Euro Skrill Buy (Feb. 13, 2014)
A controlling stake in European online payment company Skrill Group has been acquired by CVC Capital Partners, one of Europe’s largest investment consortiums.
It’s 2014 … time to change the way you think about payments
Ten years ago business-to-business payment options were pretty limited: cheques dominated, and organisations only had the option of 3-day BACS payments or expensive CHAPS transactions for high value, same day payments.
Payza Looks to Grow Global Reach with New Enterprise Service (Feb. 11, 2014)
Online payment provider Payza has begun offering its platform directly to money service companies, officially launching its strategic partnership phase, first announced at the end of 2013.
Vodafone Adds MoneyGram Network for M-Pesa Remittances (Feb. 11, 2014)
Vodafone has inked a deal with MoneyGram that will enable anyone to send funds via MoneyGram’s 334,000 agents worldwide to users of Vodafone’s popular M-Pesa mobile payment service.
U.S. Reps Scheduled to Vote on CFPB Bill Tomorrow (Feb. 11, 2014)
The U.S. House of Representatives is scheduled to vote tomorrow on the Consumer Financial Protection and Soundness Improvement Act (H.R. 3193).
Class Action Dismissed: Expiration Date Receipt Disclosure
A consumer’s class action suit reminds businesses to adhere to FACTA requirements, and prevent potential identity theft and fraud.
Pew Report: GPR Card Fees Go Down, But Regs Still Needed (Feb. 10, 2014)
GPR card products are on the rise and have become more affordable over the last year, according to a new report from the Pew Charitable Trusts, which examined 66 GPR cards and compared the findings to a similar report in 2012.
N.Y. Regulators Seek Digital Currency Laws that Preserve Innovation; Money2020 Announces Bitcoin Focus in 2014 (Feb. 10, 2014)
A recent hearing before N.Y. State officials outlined the possible road map toward government regulation of Bitcoin and other digital currencies.
PayNearMe Expands Footprint with Family Dollar Deal, Raises $20 Million (Feb. 10, 2014)
Hot on the heels of a fresh infusion of capital, PayNearMe, a Sunnyvale, Calif.-based cash transaction network, last week announced a deal with Family Dollar, enabling consumers to use cash for online purchases, payments toward loans and rent, among other transactions, at the discount retailer’s more than 8,000 locations.
People on the Move: Linda Pettit, CO-OP Financial Services
CO-OP Financial Services, a Rancho Cucamonga, Calif.-based credit union service organization, has hired Linda Pettit as vice president, customer care.
People on the Move: Kyle McGaffey, Fundtech
Fundtech, a Jersey City, N.J.-based provider of global transaction banking solutions, has hired Kyle McGaffey as sales manager for the Americas.
People on the Move: Lisa McFarland, Ingo Money
Ingo Money, an Atlanta-based technology and solutions provider, has appointed Lisa McFarland executive vice president and chief marketing officer.
People on the Move: Ralph A. Bianco, JetPay Card Services
JetPay Card Services, a Berwyn, Pa.-based division of JetPay Corp., has appointed Ralph A. Bianco executive vice president and general manager.
People on the Move: Tim Murphy and Noah Hanft, MasterCard
MasterCard has appointed Tim Murphy general counsel and chief franchise officer, effective April 1, 2014, replacing Noah Hanft, who has announced his retirement from MasterCard.
Company on the Move: Optimal Payments, International Gaming Awards
Optimal Payments, a London-based online payment solutions provider, recently won an award at the International Gaming Awards dinner in London this month.
People on the Move: Craig James, Prepaid International Forum Board
International nonprofit trade association, Prepaid International Forum today announced the appointment of Craig James, CEO of Neopay, as chairman of the PIF board of directors.
People on the Move: William Mills, Sionic Mobile Advisory Board
Sionic Mobile, an Atlanta-based m-commerce company providing mobile gifting, payments and rewards, named William Mills, CEO of William Mills Agency, to its advisory board of directors.
Isis Touts Progress as Wells Fargo Dangles 20 Percent-Off Promo (Feb. 6, 2014)
Isis, the NFC-based mobile payment initiative backed by the nation’s major wireless carriers, has hit a few key milestones recently that will go a long way toward building the scale vital to the effort’s success.
Weve, MasterCard Partner in U.K. to Push NFC Mobile Payments Forward (Feb. 6, 2014)
MasterCard has joined forces with Weve, the mobile payments joint venture from the U.K.’s three largest mobile telecom providers, to accelerate adoption of NFC mobile payments.
Transportation Official: Utah’s Reloadable Prepaid Transit Card Gaining Popularity (Feb. 6, 2014)
The Utah Transit Authority’s (UTA) prepaid reloadable contactless FAREPAY card in Salt Lake City, supported by InComm, appears to be a hit with riders, as one of several promising new mass-transit payment options around the U.S.
Calls for Regulatory Overhaul as Congressional Hearings Continue on Data Security (Feb. 6, 2014)
Lawmakers yesterday continued their calls to strengthen regulations protecting consumers’ financial data in the wake of recent retailer data breaches.
Blog: Beyond the Receipt: New Tools Combined with Old Offer Consumer Behavioral Insights
While receipts offer tantalizing indirect evidence of past activities, they tell us only a very modest amount about the habits, personalities or needs of the purchaser. For merchants, it’s where consumers are going next—and why they’re going there—that really matters.
