News


InComm Expands Digital Offerings in Stores, on Web (July 18, 2013)

July 18, 2013 The shift to omnichannel retail continues as InComm this week rolled out a pair of services to enable the prepaid provider’s client companies to expand their digital product offerings in stores and on the Web. InComm’s new in-store digital sales program opens the door for merchants to offer products such as downloadable music, […]

Report: Banks Hold the Key for Mobile Shopping in Europe (July 18, 2013)

July 18, 2013 European consumers are most comfortable turning to their banks when it comes to mobile shopping, according to a new report. The study, commissioned by Monitise and conducted by the Future Foundation in May 2013, polled a sample of 1,500 smartphone users in the U.K., Germany and Spain. Fifty percent of German smartphone […]

CardCash.com Beefs Up Security for Digital Gift Card Sales (July 18, 2013)

July 18, 2013 Responding to growing demand for digital gift cards, CardCash.com has revamped its system for handling electronic gift card sales, including beefing up bulwarks against fraud, the company said. Brick, N.J.-based CardCash.com, launched in 2008, specializes in reselling unused consumer gift cards via the secondary market. In June CashCard introduced an “e-code” sale […]

Breaking News: Senate Confirms CFPB Director Cordray (July 17, 2013)

July 17, 2013 The U.S. Senate yesterday confirmed Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB) amid growing acrimony along party lines over several of President Barack Obama’s nominations. The vote was 66-34. Senate Majority Leader Harry Reid (D-Nev.) late last week filed cloture motions to force votes on seven nominees in […]

People on the Move: Ivo Weevers, Virtual Piggy Inc. (July 2013)

July 2013 Virtual Piggy Inc., a Hermosa Beach, Calif.-based provider of e-commerce solutions enabling children to manage and spend money within a parent-controlled environment, has appointed Ivo Weevers creative director, mobile design, to lead and manage the mobile consumer experience team. He has 15 years of experience creating highly successful mobile, Web, device and desktop […]

People on the Move: Executive Promotions, TSYS (July 2013)

July 2013 TSYS, a Columbus, Ga.-based processor, has announced executive promotions and additions to its senior management group. Gaylon Jowers Jr. has been appointed senior executive vice president. He also serves as president of TSYS’s international services segment. Jowers has held leadership roles in which he was responsible for the company’s debit, prepaid, loyalty, debt […]

People on the Move: Shazia Manus, The Members Group (July 2013)

July 2013 The Members Group (TMG), a Des Moines, Iowa-based card processing and payment solutions provider, announced that CEO Shazia Manus has been appointed to serve a one-year term on the Credit Union National Association’s (CUNA) Payments Policy Subcommittee. The CUNA Payments Policy Subcommittee monitors, reviews and makes recommendations to the organization’s Governmental Affairs Committee […]

People on the Move: Ferhan Patel, Payza (July 2013)

July 2013 Payza, an online payment platform, has named Ferhan Patel chief compliance officer and director of global risk and compliance. He will oversee the risk, fraud and compliance departments and be responsible for the company’s AML/CTF, compliance, fraud- and risk-mitigation policies. Prior to his new position, Patel led the company’s product development strategies, marketing […]

People on the Move: Eric Thiegs, National Gift Card Corp. (July 2013)

July 2013 National Gift Card Corp. (NGC)—an Elgin, Ill.-based marketer and supplier of gift cards for use in loyalty, incentive and rewards programs—has appointed Eric Thiegs senior vice president, business development. He is a 15-year veteran of the partnership marketing, member benefits, loyalty and rewards arenas, and he will be responsible for leading the company’s […]

People on the Move: Laura Patterson, LifeWork Search (July 2013)

July 2013 LifeWork Search, a staffing firm with offices in Massachusetts and Florida, recently announced that Laura Patterson has joined the company’s executive search team, leading the compliance, fraud and risk department. Patterson has more than 15 years of experience in technical sales and account cultivation. Her merchant services career started in 2002 with American Express, […]

1 + 1 = $1 Trillion in Card Payments: The Gold Rush for Micro and Small Business (July 2013)

The surge in new mPOS tools and e-commerce options for micro and small businesses represents a significant growth opportunity to a diverse array of payments industry players. By Kate Fitzgerald, Emerging Payments Editor  Local dog-sitters, dry cleaners and doughnut shops could become as important as gold nuggets to payments industry providers that recognize their potential […]

People on the Move: Guy Chiarello, First Data Corp. (July 2013)

July 2013 First Data Corp., an Atlanta-based payments processor, has appointed Guy Chiarello president. He will serve as a member of the management committee, and he will focus on innovation, product development and technological systems. Chiarello also will engage with customers and business leaders to create and enhance the many new solutions First Data plans […]

Companies on the Move: ecoPayz, formerly ecoCard (July 2013)

July 2013 ecoCard, a U.K.-based global payment solutions provider, has been rebranded ecoPayz to reflect the scope of its diverse range of payment solutions, according to the company. “Over the last few years we have significantly grown and extended our range of payment solutions to incorporate a range of virtual payment mechanisms, not just physical cards, so […]

Companies on the Move: CPI Card Group, ICMA Élan Awards (July 2013)

July 2013 CPI Card Group, a Littleton, Colo.-based card producer, recently received several Élan Awards at the International Card Manufacturers Association (ICMA) annual meeting in Washington, D.C. The Élan Awards recognize innovative card designs, technologies and other criteria that establish the global vanguard for card manufacturing. CPI received the top honor in two categories: “Best Financial […]

People on the Move: Norman Miller, DFC Global Corp. (July 2013)

July 2013 DFC Global Corp., a Berwyn, Pa.-based financial services company serving primarily unbanked and underbanked consumers, has promoted Norman Miller president and chief operating officer. He has served as the company’s executive vice president and chief operating officer since 2007. Previously, Miller was employed by ARAMARK Inc., where he was group president of sports […]

People on the Move: Michael Boustridge, Contact Solutions (July 2013)

July 2013 Contact Solutions, a Reston, Va.-based provider of cloud-based customer self-service solutions, has appointed Michael Boustridge CEO. His focus will be to continue building on the strong market momentum Contact Solutions has built over the last 11 years and accelerate the company’s growth trajectory, including evolving partner relationships, sustaining operational excellence and expanding into commercial […]

People on the Move: Sartaj Alag, Christopher D’Angelo, Nora Dowd Eisenhower and Laurie Maggiano, Consumer Financial Protection Bureau (July 2013)

July 2013 The Consumer Financial Protection Bureau (CFPB) recently has added several members to senior positions within the bureau. Sartaj Alag is returning to the CFPB and will serve as chief operating officer. In his previous role at the bureau, Alag was in charge of starting up and managing the Office of Consumer Response. Previously, […]

People on the Move: Peter J. Quadagno, Bank Solutions Group LLC (July 2013)

July 2013 Bank Solutions Group LLC, an Atlanta-based  management consulting firm, has hired Peter J. Quadagno as a partner in its payments practice. He has more than 30 years of payments industry experience as an executive, business owner and consultant, most of it focused on prepaid cards. He founded several firms, including Maverick Network Solutions and […]

People on the Move: Jennifer Boussuge, Bank of America Merrill Lynch (July 2013)

July 2013 Bank of America Merrill Lynch has named Jennifer Boussuge head of global transaction services (GTS) for Europe, the Middle East and Africa (EMEA). She has been with the company for more than 19 years, during which time she has held a number of leadership roles, most recently as head of global sales for GTS. […]

Companies on the Move: Consumer Financial Services Practice, Ballard Spahr LLP (July 2013)

July 2013 Ballard Spahr LLC recently announced the opening of its 14th office—this one in New York City—that will expand the firm’s capabilities in representing banks and other financial institutions in a wide range of consumer financial services regulatory matters, litigation and government investigations, according to the firm. The New York office operates under the […]

ICMA Honors Card Design and Innovation (July 2013)

The International Card Manufacturers Association (ICMA) continues to honor innovators in card manufacturing through its Élan Awards for Card Manufacturing Excellence, and many prepaid programs were recognized as finalists and winners this year. The awards were presented last month during the association’s Annual Card Manufacturing and Personalization EXPO in Washington, D.C. “The graphics on many […]

OU Blazes Trail with Tuition Gift Card (July 2013)

By Bill Grabarek, Senior Editor True to the pioneering spirit of the University of Oklahoma’s moniker, the Sooners (a nickname for settlers during the land rush of the late 1800s), OU is traversing a path seemingly untrodden by other colleges and universities. OU’s Office of the Bursar recently launched the OU Gift Card, enabling friends […]

China UnionPay Debuts NFC Payment App (July 16, 2013)

July 16, 2013 Shanghai-based payment card network UnionPay continues to expand its NFC-based mobile payment offerings, launching a new smartphone app for contactless payments last week. Dubbed simply Wallet, the app enables users to link card accounts from eight participating Chinese banks to NFC-enabled smartphones from China Mobile and make purchases at POS terminals via […]

i2c, Heartland Kick Off Processing Pact with Payroll Card (July 16, 2013)

July 16, 2013 Cloud-based payment processor i2c Inc. has signed a deal to provide prepaid card processing services to Heartland Payment Systems. The collaboration will kick off with i2c taking over processing duties for Heartland’s National Restaurant Association (NRA) Edge payroll card program, which enables restaurant employees to load their paychecks and outside funds onto […]

Ukash Deal Gives Brazilians More Online Shopping Options (July 16, 2013)

July 16, 2013 Consumers in Brazil soon will be able to purchase Ukash vouchers in Brazilian currency at participating Petrobas and other independent stores across the country, and spend those vouchers at 3,500 e-commerce and digital entertainment Websites. Ukash, a London-based prepaid voucher provider and Paybefore Award winner, yesterday announced an agreement with Now Prepay Servicos […]

Sen. Reid to Force Vote on Nomination of CFPB’s Cordray, Others (July 15, 2013)

July 15, 2013 In a protracted battle over several of President Barack Obama’s nominations, including his appointment of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB), Senate Majority Leader Harry Reid (D-Nev.) last week filed cloture motions to force votes on seven nominees in an effort to bypass what he called “blatant […]

China Grants Third-Party Payment License to First-Ever Foreign Providers (July 15, 2013)

July 15, 2013 China’s central bank has granted new third-party payment licenses to 27 companies, including the first-ever foreign-funded payment service providers to receive licenses—Edenred China and Sodexo Pass China (Shanghai). Since the Peoples Bank of China (PBC) began issuing the licenses in May 2011, a total of 250 nonbank institutions have been granted the […]

Senators Call on Regulators to Investigate Payroll Cards (July 15, 2013)

July 15, 2013 A group of 16 U.S. Senators are calling on government regulators to investigate the fees and practices association with payroll cards. In a letter to the Consumer Financial Protection Bureau and Department of Labor, the Senators said that all fees attached to prepaid cards must be clearly disclosed to employees who have […]

TIO Says Globex Acquisition Will Strengthen Company, Expand Footprint (July 15, 2013)

July 15, 2013 TIO Networks Corp., a Vancouver, B.C.-based expedited payments service provider, announced on Friday it will acquire Globex Financial Services Inc. and its Global Express Money Orders business. TIO expects to close on the deal for the Silver Spring, Md.-based bill payment services provider later this year. TIO plans to cross-sell its mobile […]

MCX Picks FIS to Develop M-Commerce Platform (July 11, 2013)

July 11, 2013 Another major piece of MCX’s jigsaw puzzle fell into place today with the announcement that payments technology provider FIS will provide the payments processing platform, including transaction routing and settlement, for the retail consortium’s evolving mobile commerce system. Jacksonville, Fla.-based FIS will execute mobile payments at participating retailer outlets in combination with […]

Visa Europe Predicts 52 Million Contactless Payments per Month (July 11, 2013)

July 11, 2013 By the end of 2013, European consumers will be making more than 52 million contactless transactions every month, according to a projection by Visa Europe. That would represent a marked increase from 2012, which saw a total of 147 million contactless transactions. The rapid increase in NFC-enabled smartphones and digital wallets coming […]

SpendTrend: Card Spending Growth Hits 10-Month High (July 11, 2013)

July 11, 2013 Consumers continued to demonstrate strong spending habits in June, according to the latest SpendTrend data released by First Data Corp., an Atlanta-based payments processor. Wet weather that dampened demand on the East Coast in the early part of the month was offset by warmer weather across the rest of the U.S., leading […]

On-Demand Bike Lockers Come to Seattle Metro System (July 11, 2013)

July 11, 2013 Seattle-area Metro riders who bike to transit stations have a new option for storing their cycles, thanks to a series of new “eLockers” that can be rented on an hourly basis using a stored value card. The lockers—located at 10 Metro stations throughout the Seattle area—are provided by BikeLink, a secure on-demand […]

Libor is dead … long live NYbor?

Uncertainty over the mechanism for calculating the Libor benchmark in future remains in the wake of the generally applauded appointment of NYSE Euronext as its new administrator.