SIMalliance, a London-based nonprofit trade association supporting the creation, deployment and management of secure mobile services and applications, has elected Hervé Pierre to serve a one-year term as the organization’s chairman of the board.
The board of directors of VendorSafe, a provider of cloud-managed IT security services, has named Kevin Watson CEO.
YapStone, a global provider of Web and mobile payment solutions, has been named to the Deloitte 2014 Technology Fast 500, an annual ranking of the 500 fastest-growing North American companies in the technology, media, telecommunications, life sciences and clean technology sectors.
In a new study, the Federal Reserve Bank of Kansas City is providing some much-needed data to the long-standing debate over whether prepaid cards should be permitted to offer an overdraft feature.
Virtual Piggy Inc. has unveiled a new prepaid card targeted for use by teens, who can use the card to shop at brick-and-mortar stores within limits set and managed by their parents.
Payment card issuers looking to use Visa Inc.’s tokenization service will be able to do so with no fee until at least the end of 2015—and maybe further, according to the payment network’s CEO.
The CFPB expanded its budget, number of employees and its complaint volume in fiscal year 2014, according to its annual report.
FIX Trading Community has combined all its high performance trading and market data initiatives into a single working group, emphasising the importance that high performance has in the FIX family of standards. The next generation of the FIX Protocol will fully support high performance on all levels (application, presentation, session) to offer an open standard that can replace today’s proprietary interfaces for high performance trading and market data.
At a gala event in London last night, industry luminaries gathered for an evening of entertainment and excitement as the winners of the 2014 Banking Technology Awards and Readers’ Choice Awards were announced.
Lost among last week’s excitement of the issuance of the long-awaited NPRM on prepaid was another CFPB publication that’s a must read—“Study of Prepaid Account Agreements.”
Simultaneously with the release of its 870-page prepaid account proposal last week, the CFPB issued a “Study of Prepaid Account Agreements.”
Prepaid industry leaders, which included representatives from InComm, Blackhawk Network and Green Dot, met with members of the U.S. Senate Special Committee on Aging during a hearing yesterday to outline how they’re working to prevent fraudsters from using prepaid debit cards to swindle consumers, particularly phone scams perpetrated against the elderly.
Apple Pay has generated significant buzz since it launched on Oct. 21—and more than 1 million credit cards were registered in the payment app within 72 hours—but Leon Majors, president of the payments practice at Phoenix Marketing International, presented research in Chicago last week at BAI Retail Delivery 2014 that suggests Apple may have some of the same difficulties that have plagued other mobile wallets, including low acceptance.
With active payroll cards and load amounts on the rise in the U.S., Paybefore-award winning ALINE Card by ADP has added a feature that could prove popular with service industries where employees receive tips as part of their pay.
Market participants are worried about data and are deeply concerned about their ability to monitor transactions following a string of major fines to global financial institutions, according to a new report by NICE Actimize.
A bug-eyed puppet in the shape of a POS device might be just what Softcard needs to get consumers thinking about tapping their phones more often to pay at the POS.
Visa Inc. and Wirecard AG announced a partnership the companies say affirms their commitments to growing the prepaid market in Asia-Pacific and Latin America, among other regions.
Popular social messaging service Snapchat is the latest tech provider to throw its hat into the P2P money transfer ring.
Debate over revised European payments legislation, including interchange reforms, is set to begin in Brussels tomorrow.
In a holiday season that’s poised for more mobile searching and shopping, prepaid product and technology provider InComm announced that PayPal is using the InComm Digital Solutions (IDS) platform to support PayPal’s digital gifts services.
A fluctuating economy has made for a more dynamic prepaid market, benefiting some segments and causing slower growth in others, according to Mercator Advisory Group’s “11th Annual U.S. Prepaid Cards Market Forecasts, 2014-2017.”
Merchants using “Google Wallet for digital goods” to accept online payments on their Websites soon will have to find a new provider, and consumers no longer will be able to check out with the Google Wallet for digital goods when buying digital merchandise.
The prepaid industry was well-represented at today’s CFPB field hearing on prepaid accounts in Wilmington, Del. The consensus among industry experts was that the popularity of prepaid products continues to grow and that the NPRM is the next step in the evolution of the industry, as the rules could create a level playing field for prepaid providers.
My original intent, based on attending the field hearing in Wilmington, Del., this morning, was to summarize the key elements for publication today. But, that won’t happen. The 870 pages that comprise the NPRM suggest why it took the CFPB extra time to create and why it will take industry time to understand everything the NPRM covers and, of course, the implications of the proposed rules.
The wait is over. In advance of today’s field hearing, the CFPB has released its proposed consumer protections for the prepaid market. Read the NPRM as well as proposed “Know Before You Owe” disclosures.
It’s an odd juxtaposition that the day before our nominations are due for the 2015 Paybefore Awards, the CFPB is holding a field hearing on prepaid. My hope is that the visionaries that make Paybefore Awards a remarkable annual event also make their voices—and those of their customers—heard, as the rules go from proposal to regulation.
We have the opportunity to make a difference, to be part of the process and to influence the outcome of prepaid regulations.
On the eve of the CFPB’s field hearing on GPR cards (and the rumored release of its GPR notice of proposed rulemaking), Consumer Reports has named the “best” GPR prepaid cards.
InteliSpend Prepaid Solutions is expanding its Paybefore Award-winning cashback program for prepaid incentive cards to the Discover and MasterCard networks, the Fenton, Mo.-based firm announced today.
Square, considered by many to be a trailblazer in the arena of mobile card readers that plug into smartphones, today has announced the San Francisco-based company is accepting pre-orders from U.S. merchants on a new Square reader that accepts EMV chip cards.
If you’re a third-party service provider to prepaid issuers, don’t overlook your Regulation E error resolution
responsibilities. Here are five topics to think about.
Capital markets firms often have little idea how much they are spending on technology and even less control, according to a new report by Tabb Group and Thomson Reuters. The report’s authors call for greater emphasis on data, which could help to save the half a million dollars per front office employee spent on technology every year.
The Bitcoin Foundation, a nonprofit institution founded to promote bitcoin use, has appointed Patrick Murck executive director.
ClassWallet has appointed Neil Steinhardt senior vice president.
Payment technology supplier FIS has appointed Gary Norcross president and CEO, effective Jan. 1, 2015. Frank Martire, who has served as the company’s CEO for five years, will assume the role of executive chairman.
IP Payments Pty. Ltd. has appointed Bonnie Boezeman chairperson of its board of directors.
IQR Consulting has hired Terresa Patton as business development director to support the company’s analytics division.
Meta Financial Group Inc., has been recognized in Bank Director Magazine’s 2014 Bank Performance Scorecard as earning the highest ranking among peers in South Dakota with an asset range of $1 billion to $5 billion.
Payveris, an online and mobile payments company, has appointed Jeff Weikert president. Fran Duggan the founder and president of Payveris is moving to the newly created role of chief operating officer.
Stockholm-based Seamless, developer of the mobile payment solution SEQR, has hired Beverly Cole as its U.S head of sales
