People on the Move: Matt Wilcox, Fiserv Inc. (October 2013)
Fiserv Inc., a Brookfield, Wis.-based financial services technology provider, has hired Matt Wilcox as managing director, marketing strategy and innovation, digital payments.
PayTech
People on the Move: Lois Hansen, CO-OP Financial Services (October 2013)
CO-OP Financial Services, a Rancho Cucamonga, Calif.-based credit union service organization, has named Lois Hansen vice president, product development.
People on the Move: Ben Kaplan, CashStar Inc. (October 2013)
CashStar Inc., a Portland, Maine-based provider of digital gifting technology and Paybefore Award-winner, recently announced that Ben Kaplan has been named president and CEO.
People on the Move: Meyer Malka and Elizabeth T. Ploshay, Bitcoin Foundation Board (October 2013)
Bitcoin Foundation, a nonprofit institution founded last year to promote Bitcoin use, has elected Meyer (Micky) Malka and Elizabeth T. Ploshay to its board.
People on the Move: Rajeev Kumar, Access Prepaid Worldwide (October 2013)
Program manager Access Prepaid Worldwide, a MasterCard company, has appointed Rajeev Kumar regional director and general manager for the Middle East and Africa.
MasterCard Inks Broad MasterPass Distribution Deal with Worldline (Oct. 21, 2013)
MasterCard’s MasterPass digital wallet service will become available to thousands of e-commerce merchants across 17 countries in Europe and Asia beginning next month, through a partnership with Paris-based payments provider Worldline.
Rio Latest City to Get NFC Transit Pilot (Oct. 21, 2013)
The global push toward NFC-based transit payments continues—this time in Rio de Janeiro, the site of a new pilot program enabling transit riders to tap mobile smartphones to pay on trains, buses and ferries.
Wonga Bolsters Payments Business by Nabbing German Provider (Oct. 21, 2013)
U.K.-based e-loan provider Wonga Group has struck a deal to acquire German online payments provider BillPay. The deal, financial terms of which were not disclosed, will create what Wonga called “one of Europe’s leading digital finance and payment systems businesses.” In addition to its home country of Germany, BillPay also operates its PayPal-like service in […]
NYC Commuters Can Pay Taxis with Amex Reward Points (Oct. 21, 2013)
American Express cardholders traveling by taxi in New York City now are able to pay their fares using membership reward points. The technology enabling this payment method began rolling out today to the more than 7,000 VeriFone Systems in-taxi devices. When customers reach their destination and choose to pay with credit, they will be prompted […]
Pan Am-Branded Travel Card to Take Flight (Oct. 21, 2013)
Payments processor and program manager TransCard will release a new prepaid travel card branded by Pan Am Brands, a division of Pan American World Airways. The card will feature the iconic name and logo of Pan Am, one of the largest international air carriers in the U.S. between 1927 and 1991. “We are excited to […]
ACI Worldwide targets “fragmented” retail bank payment systems
Large retail banks sometimes find it hard to change because they have assimilated many smaller banks through acquisition, each of which is running on a payments engine that has different features and may be very old. That can make it difficult to offer new services, but there is a solution according to Paul Thomalla, head of EMEA at US-based payments and technology firm ACI Worldwide.
KPMG calls time on the universal banking model
Geopolitical shifts and increasing protectionism among nations will mean that the universal banking model is no longer sustainable – and there is little that anyone can do, according to Bill Michael, EMA head of financial services at KPMG. “The future shape of banking is beyond the control of boards, individual regulators or countries alone,” Michael […]
China’s Alipay Reboots Digital Wallet, Heads to Taiwan (Oct. 17, 2013)
China’s giant retail payments operator Alibaba Group this week announced plans to expand its Alipay online payment service to Taiwan and simultaneously unveiled key upgrades to Alipay’s digital wallet, significantly increasing customers’ options for online and offline purchases.
New Payment Method on Tap for Salt Lake City Commuters (Oct. 17, 2013)
Commuters in the Salt Lake City metropolitan area starting this week have a new way to pay for fares on buses, trains and streetcars serviced by the Utah Transit Authority. The UTA, in partnership with Atlanta-based InComm, have launched the FAREPAY card, a contactless, closed-loop card that can be loaded with funds from $5 to […]
Virtual Currency Exchange Kraken Reaches into Europe (Oct. 17, 2013)
U.S.-based digital currency exchange Kraken is set to be released into Europe. San Francisco’s Payward—the company behind Kraken, which exited beta last month—has inked a deal with Fidor Bank, a German financial services provider that combines traditional banking with Internet-based payments. Under terms of the deal, Kraken will become Fidor’s “exclusive digital currency trading platform” […]
Western Union Strikes Deal for Italian Remittance, Prepaid Card (Oct. 17, 2013)
Western Union is set to launch a new reloadable prepaid card in Italy in partnership with Lottomatica, a gaming technology solutions company that provides payment, reload and e-money services. The deal brings Western Union’s Paybefore Award-winning MyWU Prepaid Card to Italy, where it is targeted to serve more than 4 million migrant workers who can […]
Blog: Security vs. Convenience: The Online Payments Conundrum
Online commerce has begun to approach saturation in Western markets, while fraud, competition and a more demanding consumer base are squeezing online payments providers.
Blog: Money2020 Opens Door to Payments’ Future (October 2013)
The second annual Money2020 in Las Vegas earlier this month had a vibe unlike payment conferences of the past, and not just because of the acrobats roaming around during networking sessions.
Blog: Mobile App Permissions: Scaring Users and Haunting Developers?
Please let me use your camera. Do you mind if I browse through your contacts so I know all your family and friends, and can call or text each at my discretion? To the uninitiated, these eerie questions read like a disturbed love note from a stalker. But these are common permissions requests for many mobile apps. Could they scare off users?
Pay Magazine – Fall 2013
B2B Ignites Prepaid Growth; Prepaid Frenzy: Moving Beyond GPR; Who’s Afraid of Big, Bad Apple?; The Bitcoin Craze: Lovers and Haters; Companies & People: B2B’s Top Power Players; Chucking the Cash Register
‘Square Cash’ Joins Crowded P2P Field (Oct. 16, 2013)
Square Inc. is wading into the crowded U.S. P2P field this week with Square Cash, taking a somewhat unique debit card-based approach versus competitors by enabling Visa and MasterCard debit cardholders to send funds to each other free of charge via email.
PFS Expands Reload Network with Ukash (Oct. 16, 2013)
Prepaid Financial Services (PFS), a London-based provider of global prepaid solutions, announced that its cardholders throughout Europe now can load their prepaid cards using the Ukash e-money service. Ukash codes can be purchased with cash from thousands of retail outlets, and the 19-digit code can be used to transfer funds by logging into the cardholder’s […]
Jamba Juice to Sweeten Deal for Isis Adoption (Oct. 16, 2013)
With the Isis digital wallet set to launch nationwide later this year, the companies behind the wallet are hoping a special launch promotion will sweeten the proposition for consumer adoption.
Hong Kong’s JETCO to Build M-Payment Platform Using NFC (Oct. 16, 2013)
Joint Electronic Teller Services Limited (JETCO), along with its 30 member banks, announced plans to build a mobile payment platform that uses NFC technology.
System Glitch Leads to EBT Shopping Spree (Oct. 16, 2013)
A system disruption last weekend enabled public assistance recipients in 17 states to make purchases using Electronic Benefits Transfer cards with no spending limits. Xerox, one of three companies that operate the payment system for the Supplemental Nutrition Assistance Program (SNAP), said a routine test of a backup generator on Saturday caused the company’s EBT […]
Bitcoin Loses Dwolla Support; Feds Shut Down Silk Road (Oct. 15, 2013)
In the latest setback to the Bitcoin craze, Dwolla announced it will phase out all Bitcoin-related operations by the end of this month, citing “uncertainty and confusion” around the virtual currency. Bitcoin accounted for only 0.1 percent of its merchants, according to Dwolla, which specializes in P2P transactions. The move comes on the heels of […]
Venture Capital Flows into Payments Industry (Oct. 15, 2013)
Oct. 15, 2013 Several companies in the prepaid and emerging payments industry recently have received investor funding, including CardFlight, Carta Solutions Holding Corp., Gyft Inc., Leaf and Tabbedout. CardFlight, a New York-based firm that enables developers to integrate in-person card payments into their own apps, has raised $1.6 million in seed-round funding, led by New […]
Survey: P2P an Opportunity for E-Payments Providers (Oct. 15, 2013)
While digital payments have become commonplace for paying bills and making purchases, person-to-person payments still have much unlocked potential for electronic payment providers, according to a new report from financial services technology provider Fiserv. In its 2013 “How Americans Pay Each Other” survey, the Brookfield, Wisc.-based company polled 2,533 Americans on how they made payments. […]
Kenyan Regulators’ Call for Interoperability Could End M-Pesa Dominance (Oct. 15, 2013)
Proposed new regulations from Kenya’s central bank could force leading telecom provider Safaricom to open its M-Pesa electronic money transfer service to other providers, possibly bringing an end to the company’s dominance of the Kenyan e-money market.
Citi builds out global eBAM service and cross-border payments
Citi has expanded its electronic bank account management service to 55 countries, in a move that the bank says will help corporate treasurers to better manage risk. The bank also expanded its cross-border WorldLink payment service into new emerging markets.
Google Wallet Revamps App, Welcoming iPhone; While NFC’s Momentum Sputters
Google Wallet’s latest makeover—a revised mobile app pushing merchant offers through more channels that’s available now for the first time to Apple Inc.’s iPhone users—means millions more consumers may give it a try.
Executive profile: One on One with Amit Parikh, Discover
New head of prepaid speaks on his multifaceted career, his view on prepaid and why living in the Bay Area gives him a unique perspective on payments.
Pay Mobile: Money2020 Edition (Oct. 11, 2013)
This week in Las Vegas more than 4,500 attendees gathered for the second annual Money2020 conference. Companies across the payments value chain took the opportunity to showcase their latest partnerships, technology or programs with a deluge of announcements charting the future of money.
Money2020: PayPal Cracks QR Codes (Oct. 10, 2013)
PayPal added another key piece to its POS strategy this week with the introduction of Payment Code, a QR code-based approach enabling consumers to pay by scanning the PayPal mobile app at checkout.
MasterCard to Acquire Turkish Processor Provus (Oct. 10, 2013)
Turkey’s large unbanked population, relatively industry-friendly regulatory environment and growing popularity of payment cards, including prepaid and contactless, has made it an attractive and expanding market.
Suze Orman Approves i2c for Prepaid Processing (Oct. 10. 2013)
Prepaid processor i2c Inc. has been chosen to provide processing services for The Approved Card from Suze Orman MasterCard. Redwood City, Calif.-based i2c will bolster the card with new features, including an integrated communications engine that responds in real-time to cardholders’ behavior with personalized messages to help them better manage their finances. “Of the platforms […]
Amazon Charts Course into Online Payments (Oct. 10, 2013)
Online retail titan Amazon is making a major foray into electronic payments, unveiling a new service that enables e-commerce merchants to let customers pay with the cards saved in their Amazon accounts. Dubbed Login and Pay with Amazon, the feature gives participating retailers access to Amazon’s 215 million active account holders, who can make purchases […]
U.K. to Create New Payments Regulator (Oct. 10, 2013)
The U.K. government has decided to create a new regulatory body for retail payment systems that will be charged with ensuring a level playing field in the noncash payments market by promoting modernization, innovation and meeting the needs of consumers—all of which might otherwise be stifled by a lack of competition, according to Her Majesty’s […]
Lessons on living in a real-time payments world
Coming to the US to tell an audience of payments specialists about how the UK has transformed its national infrastructure over the past five years with the introduction of an effectively real-time payment system might have been considered a rough assignment – what can the Brits teach the wider world, particularly the US, about payments […]
PayPal points to global reach
Don Kingsborough, vice president of retail and prepaid products at PayPal, had a clear message for Money2020 delegates in Las Vegas yesterday: “The future is actually now.”
