Prepaid Cards Play Key Role in New Contactless Transit-Payment Systems
When upgraded public transit fare-payment systems went live recently in Chicago and Salt Lake City, contactless payment transactions soared into the millions.
News
MasterCard Acquires M-Payments Partner C-SAM, Launches In-App Payments (Feb. 24, 2014)
MasterCard has entered into an agreement to acquire Chicago-based mobile payment technology provider C-SAM.
Nevada Gaming Commission OKs Prepaid for Slot Machines (Feb. 24, 2014)
The Nevada Gaming Commission has approved the use of prepaid cards for wagering on slot machines in the state.
Amazon Coins Expand to All Android Devices (Feb. 24, 2014)
Amazon has announced that customers in the U.S., U.K. and Germany now can use the e-retail giant’s Amazon Coins in-app currency on all Android-based smartphones and tablets.
Google Nabs Audio Authentication Startup (Feb. 20, 2014)
Google has acquired Israeli startup SlickLogin, which has developed technology that uses high-frequency sound waves to authenticate user identity when logging into Websites.
NBPCA Teams with Consumer Action for Payroll Guides to Educate, Ensure Compliance (Feb. 20, 2014)
With a growing number of U.S. employers offering their employees the option of payroll cards, the Network Branded Prepaid Card Association (NBPCA) has joined with consumer advocacy group Consumer Action to develop a pair of guides to help companies and employees learn about payroll cards, including how they work, options for accessing wages and how to avoid or limit fees.
European Parliament Committee Endorses Proposed Payments Rules; Plenary Vote Set for April (Feb. 21, 2014)
The European Parliament’s ECON Committee today voted to endorse proposed amendments to the European Union’s “Payments Package” legislation, which includes the revised Payment Services Directive (PSD2) and the regulation on interchange fees for card-based payment transactions (MIF Regulation).
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.
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.
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.
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.
FIX publishes guidelines for equities TCA
Industry standards organisation the FIX Trading Community has published its guidelines for transaction cost analysis in equities, which it says will help to create a better market by clearing up the competing methodologies and definitions that are currently in use.
Celent sees strong global growth in bank IT spending
Global IT spending by banks will grow 4.4% to $188.0 billion this year, and will continue to do so for the next few years, according to research firm Celent.
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.
IND acquisition opens chink in competitors’ armour for Misys
The acquisition of digital banking specialist IND Group will give Misys access to parts of its rivals’ customer base that it intends to exploit as it develops its offerings in the digital banking channel, while the closer integration of the IND capabilities will also shore up Misys’ defences against encroachment of its own ageing user base.
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.
Futures algos come of age
Long-only institutional investors are increasingly turning towards advanced futures trading strategies that have previously been the preserve of hedge funds and proprietary trading shops, according to a new report published by Tabb Group and Fidessa.
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.
