The spread of m-POS platforms has accelerated the decline of cash, according to a new report revealing that the volume of cash used in POS transactions in the U.S. dropped 10 percent between 2012 and 2013.
Collateral management as it is currently known will no longer exist within a few years as increased regulatory demands, rising levels of automation and growth of industry tools to optimise collateral transform the industry, according to a new survey and report by Sapient Global Markets.
MasterCard is beefing up its cardholder security efforts, adding identity theft resolution assistance to all of its credit, debit, prepaid and small business cards issued in the U.S.
After revolutionizing payment card acceptance for small merchants, Square now is seeking to make waves in the cash advance arena.
Five months after UnionPay’s partnership with Rev Worldwide to expand its prepaid market opportunities globally, payment network UnionPay is spending a sizable chunk of change to promote card and mobile app usage for online purchases to cardholders within China.
Citi has launched a new set of trading features and transaction cost analysis tools on its Citi Futures and Options Execution platform, which it says will help clients to gain clarity from their futures clearing merchants.
As speculation grows that Apple will include NFC technology in its next-generation iPhone, another clue came to light last week, when the U.S. Patent & Trademark Office published a patent application filed by the company for an NFC antenna design
Mobile app providers might be overlooking a key demographic as they try to develop the right mix of form and function that will help their apps gain traction with a large population of consumers.
The Consumer Financial Protection Bureau could release its long-awaited rules for GPR prepaid cards next month.
U.K.-based Raphaels Bank has signed on to deliver what the bank is calling the first prepaid loyalty card program in the roadside recovery industry for the RAC, a British automobile association.
Prepaid cards could be a key entry point for financial inclusion—especially when combined with mobile phones, according to a new report from MasterCard that studied the underserved population in six countries within the Asia-Pacific, Middle East and Africa (APMEA) region.
Processors continue to get scooped up in acquisition deals this month.
The European mobile payments market continues to draw the interest of investors, with London-based mobile payment and loyalty app Yoyo landing $5 million in seed investment.
Bell ID, a global provider of smart chip management solutions, has appointed Michelle Lehouck EMV product director for its U.S. division.
Matthias Höllerl has been promoted to vice president of sales, mobile messaging, at DIMOCO, a European mobile payment and messaging provider.
Net Element Inc., a mobile payments and transactional services provider, has appointed Drew Freeman to the company’s board of directors.
Naveen Surya, managing director at ItzCash Card Ltd., is serving a two-year term as Payments Council of India chairman as well as chairman of the prepaid issuers working committee. Vishwas Patel, CEO at Avenues India Pvt Ltd., is serving two-year terms as PCI vice chairman and chairman of the merchant aggregator and acquirers committee.
SightSpan Inc. CEO and President John Walsh and John Walsh, former host of “America’s Most Wanted” recently met at a Charlotte Mecklenburg Police Foundation event in Charlotte, N.C.
A new mobile wallet platform from InComm is capitalizing on the company’s prepaid expertise to offer wallet providers a multitude of features, possibly giving InComm a competitive boost and signaling a shift in the prevailing business model. T
Despite skepticism that the path to widespread NFC-based mobile payments is in the SIM card, global shipments of NFC-enabled SIM cards more than doubled last year, and the SIMalliance expects such growth to continue.
Following sessions on Tuesday that featured a keynote presentation by Guido Mangiagalli, Visa Europe’s head of prepaid/core payments; a deep dive into PSD2 and MIF regulations for prepaid, mobile and payments providers by TrustEu Affairs’ Monica Monaco; and a merchant panel addressing interchange and regulation from their side of the table, APEX Europe wrapped up yesterday with panels and individual speakers addressing the opportunities in emerging payments.
Don’t get bogged down by existing technological limitations—they will inevitably fade with the march of innovation—and the future will be beyond what you can imagine.
Security breaches at major institutions in financial services, healthcare and other industries are going undetected for months at a time and are often caused by basic errors of security, such as weak passwords, vulnerable applications and a lack of interest in security, according to a new report by cybercrime specialist company Trustwave.
Lucera Financial Infrastructures has launched LumeFX, a technology platform that aims to help market participants increase their chances of finding a fill by using a smart order router to find FX liquidity.
Nasdaq OMX has launched a new business intelligence service called MiQ, which it says will help its regional exchange, clearinghouse and CSD customers to better understand liquidity, market movements, performance and business opportunities.
If proposed changes to simplified due diligence go through as drafted, it will drive out a whole section of the prepaid market from Europe.
Paybefore today celebrated the winners in its 2014 Paybefore Awards Europe competition and revealed those selected as Best in Category at the All Payments Expo Europe in Marbella, Spain.
Global IT advisory firm Citihub Consulting has opened an office in Zurich, adding to a network that includes operations in London, New York, Hong Kong, Singapore, and Toronto.
At the launch of the All Payments Expo Europe today in Marbella, Spain, speakers invariably turned to the topic of mobile, with strong emphasis on (and statistics to support) meeting the needs of merchants participating in mobile payments services and the consumers who use them.
A little more than a month after announcing 40 percent prepaid growth in Asia-Pacific, Middle East and Africa, MasterCard is buying Pune, India-based prepaid processor ElectraCard Services Private Ltd.
While Google and PayPal are competitors in the mobile wallet space, the companies are cooperating on an initiative to enable Google Play purchases to be paid for with PayPal in 12 countries, including the U.S., Canada and Germany.
Apple’s recent deal with China’s UnionPay on a pair of contactless payment initiatives may be a sign that the tech giant is ready to make a major move into NFC payments, including equipping the next generation of the iPhone with NFC technology.
BIAN – the Bank Industry Architecture Network – has made further progress in its efforts to promote banking system standards internationally with the US First Niagara Bank and Computer Sciences Corporation and Japan’s Nomura joining as members.
Core banking system replacement projects are notoriously difficult and disaster-prone, but successful legacy migration and systems modernisation can be shown to improve profitability, at least for smaller banks.
GPR and payroll providers may be eager to take advantage of what the CFPB estimates will be $17 million in annual saving across the financial services industry. The proposed rule, however, may not be a real option for prepaid providers.
Bank account fraud in the UK increased 48% in the first four months of this year, with a 57% rise in the number of identity frauds compared to the same period last year.
More pieces of the U.S. EMV quilt were stitched together this week with announcements from PULSE, MasterCard, FIserv and CPI Card Group.
Incentives may be working for Isis, which says consumers activated an average of 20,000 mobile wallets per day over the past 30 days. But activations don’t necessarily equal continued usage.
“Winners” will be those platforms that are flexible enough to accommodate the breakneck pace of technological advancement.
The central bank has pulled back on a mandate requiring new POS and ATM terminals to include biometric authentication. However, it’s also enabling prepaid providers, for the first time, to offer cashout at biometric terminals.
