Companies on the Move: Heartland Payment Systems, InformationWeek 500 (September 2013)
Heartland Payment Systems, a Princeton, N.J.-based merchant processor, has been named one of the top technology innovators in the U.S.
News
People on the Move: Bill Rochfort, Global Payout Inc. (September 2013)
Global Payout Inc., a San Diego-based provider of electronic payment and prepaid card solutions, recently announced that its board of directors has appointed Bill Rochfort president of the company.
People on the Move: Steve Antonakes, Consumer Financial Protection Bureau (September 2013)
The Consumer Financial Protection Bureau recently announced that Steve Antonakes has been named deputy director of the agency.
People on the Move: Percy Batliwalla, Bank of America Merrill Lynch (September 2013)
Bank of America Merrill Lynch has named Percy Batliwalla global head of sales for large corporates and financial institutions, global transaction services.
Swift sets course for collaborative compliance
Swift’s “True North” is the fact that it is a cooperative, and it will focus on this as it moves towards developing collaborative industry utilities to address complicated issues in areas such as KYC.
Yorkshire paves a path in shared services with HP alliance
The UK’s second largest building society is being moved to a modern delivery platform managed by HP, with the establishment of a Shared Services Alliance with HP Enterprise Services UK to offer the platform to a wider range of UK financial services institutions.
CFPB Weighs in on Payroll Cards; Agency’s Leader Takes Drubbing from House Republicans (Sept. 16, 2013)
Sept. 16, 2013 The Consumer Financial Protection Bureau (CFPB) is the latest to weigh in on payroll cards by issuing a bulletin to companies reminding them that employers cannot require their employees to receive wages on a payroll card. “Employees must have options when it comes to how they receive their wages,” CFPB Director Richard […]
Capital One Exits Isis Mobile Wallet (Sept. 16, 2013)
Capital One Financial Corp. this week ends its trial run with the Isis Mobile Wallet, raising questions about what combination of payment cards Isis will have when the wallet officially launches later this year.
i2c Integrates Platform with MasterCard’s Mexico Domestic Switch (Sept. 16, 2013)
Sept. 16, 2013 i2c Inc. today announced the completion of a direct integration of its platform with MasterCard’s domestic switch in Mexico, where the cloud-based payments processor sees significant growth opportunities. Redwood City, Calif.-based i2c completed all requirements for certification with MasterCard’s Mexico Domestic Switch service, which i2c says will help accelerate implementations of prepaid, credit […]
Western Union Makes Moves in China (Sept. 16, 2013)
Sept. 16, 2013 Western Union has made a pair of major inroads into the Chinese banking channel. Through a deal struck last week with Shanghai-based payment card network UnionPay, the money transfer giant now can reach 95 percent of all personal bank accounts in China. The pact enables Western Union customers in 23 countries to […]
Pingit Adds Pair of Mobile Shopping Features (Sept. 16, 2013)
Users of Barclays Pingit U.K. mobile money transfer app have two new ways to make online purchases, with a pair of features being launched this week.
Rise in non-cash volumes brings innovation opportunity
Global non-cash payments volumes continue to rise unabated, according to World Payments Report 2013 (WPR 2013), which was launched today. Non-cash transactions grew by 8.8 per cent during 2011 (the latest year for which full data is available) and are predicted to top 333 billion for 2012.
MasterCard: Prepaid is Fastest-Growing GDV Category as Digital Payments Grow Worldwide (Sept. 12, 2013)
Prepaid accounted for the strongest growth rate in gross dollar volume (GDV) for all payment card types during the first half of this year for MasterCard Worldwide, as prepaid card use cases expanded worldwide, the network told investors yesterday.
Rep. Hensarling ‘Welcomes’ CFPB Director Cordray to Finance Hearing (Sept. 12, 2013)
Sept. 12, 2013 Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), presented the agency’s semi-annual report to the U.S. House Committee on Financial Services during an often contentious hearing this morning. Literally seconds after welcoming Cordray to this morning’s hearing, Committee Chairman Jeb Hensarling (R-Texas) assailed the agency for the relatively unchecked power […]
Fed Seeks Industry Input on Payment Improvements (Sept. 12, 2013)
Sept. 12, 2013 The Federal Reserve is seeking payments industry input on a set of new policy proposals to modernize and improve the nation’s payments system in the wake of rapid changes in technology and consumer expectations. Earlier this week, the agency released its Payment System Improvement – Public Consultation Paper, the purpose of which […]
Sprint ‘Boosts’ Wallet with Remote Check Deposit Service (Sept. 12, 2013)
Sprint’s Boost Mobile Wallet users now have a way to turn checks into instant funds with a new service dubbed Quick Check, which uses remote deposit capture to deposit checks into customers’ wallet accounts.
BAML makes Percy Baliwalla head of transaction services sales
Bank of America Merrill Lynch has made Percy Batliwalla global head of sales for large corporates and financial institutions in global transaction services. Batliwalla will remain in Singapore and report to Paul Simpson, head of BAML global transaction services. Percy was most recently head of Asia Pacific GTS sales where he was responsible for sales […]
PayPal Preps ‘Hands-Free’ Payments; Apple Debuts Fingerprint Security (Sept. 10, 2013)
PayPal could give mobile commerce a big boost with the introduction of PayPal Beacon, a service it’s piloting this fall that will enable customers who opt in to pay “hands-free” with their PayPal mobile apps at participating merchants.
Payments in Transit: Ventra Rolls Out in Chicago, Octopus Unveils Mobile Plans (Sept. 10, 2013)
Two major mass transit contactless payment initiatives are speeding forward this week, with the debut of Chicago’s Ventra system and the announcement of a smartphone-based payment feature for Hong Kong’s transit network.
Investors Pump Millions into M-Payment Companies Check and Paydiant (Sept. 10, 2013)
Sept. 10, 2013 The money keeps pouring in as two mobile payments players, Check and Paydiant, are the latest to report recent infusions of capital. Wellesley, Mass.-based Paydiant announced today that it has closed a $15 million round of funding from North Bridge Venture Partners, General Catalyst Partners and Stage 1 Ventures, among others. The new […]
Sumitomo to Launch payWave-Based NFC App (Sept. 10, 2013)
Japanese banking group Sumitomo Mistui will launch a new NFC payment service that will be available through all three of the country’s mobile network operators and more than 30 NFC-enabled smartphone models.
Commerzbank and Clearstream to launch OTC derivatives support service
Germany’s Commerzbank and Benelux-based Clearstream are planning to launch a new service designed to help customers in the G20 nations gear up for central clearing of OTC derivatives.
PayPal’s Mobile App Redesign Touts POS Acceptance, Merchant Deals (Sept. 9, 2013)
PayPal is making a splash with a redesign of its mobile app that pulls together several of the company’s latest initiatives into a digital wallet emphasizing consumer benefits, including instant discounts and the ability to pay at the POS.
Vodafone, Visa to Pilot New Zealand NFC Wallet (Sept. 9, 2013)
Vodafone and Visa are teaming up to launch an NFC-based mobile payment pilot in New Zealand.
Bitcoin Dealers Seek Regulation in U.K., Startups Launch Bitcoin ATMs (Sept. 9, 2013)
Sept. 9, 2013 Financial institutions and Bitcoin companies met last week with several British government agencies, asking them to consider regulating the virtual currency so they can be used to promote commercial growth and encourage financial innovation. Representatives from Bitcoin companies and smaller FIs told officials that “big banks are blocking the creation of business […]
mPOS Takes to the Sky with Delta In-Flight Sales Platform (Sept. 9, 2013)
Delta Air Lines has equipped more than 19,000 of its flight attendants with Nokia Lumina mobile devices with mobile POS capability for the airline’s new in-flight purchase program.
Gamification: More than Just Fun and Games (September 2013)
To drive customer education and engagement, financial services providers are applying the concepts of gaming—and it turns out a little fun can drive serious results.
Reports: Prepaid Card Market Slows But Can Rebound (September 2013)
Prepaid card market growth slowed from 2011 to 2012 as a then-softening economy and compliance complexities finally caught up to the industry.
Green Dot Seeks $90 Million in Sallie Mae Prepaid Card Breach of Contract Suit (Sept. 4, 2013)
Sept. 4, 2013 Green Dot Corp. is seeking $90 million in damages from Sallie Mae in a lawsuit claiming the student loan giant misled Green Dot about the prospects for a prepaid card the two companies announced last year to help colleges disburse student financial aid refunds that Sallie Mae pulled the plug on. In a […]
Russia Launch Gives PayPal Access to Hot Market (Sept. 4, 2013)
Sept. 4, 2013 PayPal Inc. is opening for business in Russia, now that the San Jose, Calif., payment giant has overcome the regulatory barriers to fully operating in the country. According to a report in the Moscow Times, PayPal will begin enabling account holders to transfer funds to Russian banks in rubles starting on Sept […]
Mint Wireless Unveils New Platform for Australia, New Zealand Payments (Sept. 4, 2013)
Australia-based mobile payment processor Mint Wireless has announced the launch of a new platform the company says will simplify the integration of card payments across multiple mobile devices and platforms.
More Payment Terminal and Software Providers Support Isis SmartTap (Sept. 4, 2013)
Isis says it’s bolstering its market position before its national rollout with a handful of payment terminal manufacturers and software providers that are integrating Isis SmartTap capabilities into a range of POS systems, including integrated POS terminals and vending machines.
MasterCard, Blue Label Telecoms Tackle Card Acceptance in Rural South Africa (Sept. 3, 2013)
Blue Label Telecoms today announced a partnership with MasterCard that will expand electronic payment terminals to 22,000 small traders and rural shops in South Africa.
PreCash Eyes Bill Pay/Mobile App Combo to Drive Customer Relationships (Sept. 3, 2013)
Payments processor PreCash is combining a mobile app with its bill payment technology to help consumers pay bills with cash, which the company hopes will translate to a broader financial services relationship with PreCash.
Win Me Over: What Will it Take for Consumers to Embrace Mobile/Digital Wallets? (September 2013)
What consumers want from mobile wallets is a question not easily answered, nor is it clear whether any of the mobile wallets developed so far will hit the jackpot in creating a consumer experience compelling enough to change entrenched habits.
CMS Says Insurers Must Accept Prepaid Cards (Sept. 3, 2013)
Sept. 3, 2013 Health insurers must accept prepaid cards as payment for coverage mandated by the Affordable Care Act, the Centers for Medicare & Medicaid Services (CMS) said in a rule issued last week. The rule paves the way for more than 8.5 million uninsured people who would otherwise have difficulty buying coverage on insurance […]
Banco Santander Partners with iZettle in Mexico, Oberthur in Chile (Sept. 3, 2013)
Less than three months after iZettle’s first venture outside of Europe, the Swedish mobile payments company again has partnered with Spain’s Banco Santander to launch its m-payments service, which enables customers to accept card payments with their smartphones or tablets and an iZettle card reader, in Brazil.
Companies on the Move: Transaction Wireless, ACE Award (September 2013)
Transaction Wireless, a San Diego-based provider of cloud-based solutions for B2C and B2B gift cards, recently received the Incentive Gift Card Council’s ACE Award.
People on the Move: Brian Tordsen, Sunrise Banks (September 2013)
St. Paul, Minn.-based Sunrise Banks recently appointed Brian Tordsen executive vice president and director, national products group.
People on the Move: Lance Johnson, Sequent Software (September 2013)
Sequent Software, a Redwood City, Calif.-based Trusted Service Manager software and services platform provider, announced that Lance Johnson has joined the executive team as chief security officer.
