European Central Bank: It’s Time to Focus on Payment Cards (April 30, 2014)
The European Central Bank isn’t waiting for the Aug. 1 SEPA compliance deadline for direct debits and credit transfers to turn its attention to card transactions.
News
Delaware Joins Escheat Suit against Retailers (April 29, 2014)
The State of Delaware has thrown its weight behind a civil lawsuit claiming nearly two dozen well-known retailers avoided escheating unused gift card balances to the state by forming special entity corporations based outside the state.
SIMalliance: HCE No ‘Silver Bullet’ for Mobile Wallets (April 29, 2014)
Several major payments players recently have thrown their weight behind host card emulation (HCE), the technology many believe could be the key to finally bringing NFC-based mobile payments into the mainstream.
PicomoPay, MoneyGram Hoping to Capitalize on Facebook’s Popularity (April 29, 2014)
Just weeks after a report surfaced that Facebook was seeking an e-money license in Europe to boost its international remittance business, PicomoPay, a social networking payments platform, announced a deal with MoneyGram to enable U.S. Facebook users to send money transfers to more than 336,000 MoneyGram agent locations in more than 200 countries.
Fed Study: Prepaid is Fastest-Growing Noncash Payment Type (April 28, 2014)
Prepaid cards continue to be the fastest-growing form of electronic payment, with the number of prepaid payments in the U.S. increasing 15.8 percent annually between 2009 and 2012, according to a new report by the Federal Reserve Bank of Atlanta’s EconSouth.
U.S. Bank Boosts P2P to Real-Time Speed (April 28, 2014)
U.S. Bank is going real-time with its P2P offerings and adding a few key new features in a field where the P2P ambitions of companies like Square, Google and Amazon are generating considerable interest.
Company on the Move: CardFlight, Technology Innovation Award
CardFlight, a New York-based firm that enables developers to integrate in-person card payments into their own apps, has received the 2014 Technology Innovation Award from the Electronic Transactions Association.
People on the Move: Jose Garcia, First Data Corp.
First Data Corp., an Atlanta-based payments processor, has hired Jose Garcia to lead the company’s government solutions business.
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.
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.
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.
Liquidnet poaches Wells Fargo’s Garrett as US technology head
Buy-side block trading venue Liquidnet has appointed former Wells Fargo Securities equity trading boss Bob Garrett as its new head of technology, based in New York.
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.
Citi launches block pricing tool on Bloomberg App Portal
Citi has launched an electronic block pricing tool via the Bloomberg App Portal, marking the first time a major tier one broker has ever used the Portal to deploy an application around the world.
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.
