Apple Pay’s availability continues to slowly cover the globe with the latest addition—Canada. American Express today announced the availability of Apple Pay for cardholders with cards issued by Amex Bank of Canada.
Users of Vodafone’s mobile wallet soon will be able to add their MasterCard-branded payments cards to the wallet app and subsequently make contactless payments via NFC, the European telecom provider announced. Vodafone Wallet added support for Visa-branded payment cards earlier this year and compatibility with Visa- and MasterCard-branded payment cards could help Vodafone Wallet compete against Apple Pay, which launched in the U.K. in July.
Worker payout solutions provider Hyperwallet has launched a new loyalty program that enables its clients, particularly in the direct selling industry, to provide rewards for independent workers who opt to receive their earnings on a prepaid card.
The European Union Council has approved the revised Payment Services Directive (PSD2).
Earlier this year, we recognized the Top 10 Payments Lawyers as voted for by Paybefore.com visitors. In our first profile, we feature Amy Ross Lauck, partner, in the payment systems and consumer financial services practice at Lindquist & Vennum LLP, who discusses the challenges of the CARD Act, prospects for the CFPB’s prepaid rulemaking and innovations yet to come.
The FDIC last week issued a revised financial institution letter soliciting public opinion on a proposed update to its series of FAQs related to identifying, accepting and reporting brokered deposits. The revised guidance, which has a 45-day comment period that ends Dec. 28, has far-reaching implications for the prepaid industry.
MasterCard has named the startups comprising the next class of its Start Path fintech accelerator. The four startups, which were selected from more than 200 applicants, will receive mentoring from MasterCard experts, access to the company’s commercial partners and the opportunity to integrate with MasterCard solutions for six months.
Visa Europe is exploring the use of blockchain technology to speed and simplify international remittances. Under a new partnership with Epiphyte, a startup specializing in bringing blockchain to mainstream financial services, the Visa Europe Collab innovation hub is testing the use of a distributed ledger to process remittance transactions.
In a global battle pitting two companies, Hailo and Uber, that connect drivers with riders, U.K-based Hailo announced this week that all of London’s 22,500 black cabs now accept mobile payments using HailoPay, a payment gateway for passengers to pay for black cab rides using their smartphones.
Prepaid’s ability to suit a wide range of uses was on display this week, with two new MasterCard-branded prepaid products announced, targeting two very different audiences.
Samsung Pay grabbed attention in the m-payments race with its technology enabling users to pay with their handsets at any POS terminal, whether or not it accepts NFC. Now reports suggest Samsung Pay may add P2P services.
Progressive Digital Media Group Plc, has completed its acquisition of Datamonitor Financial, Datamonitor Consumer, MarketLine and Verdict from Informa plc.
As part of a recent push toward enhancing cardholder security, MasterCard is extending its updated Zero Liability policy to cardholders across the globe.
Federal prosecutors have charged a trio of accused cybercriminals in a wide-ranging hacking and fraud scheme Attorney General Loretta Lynch called “one of the largest thefts of financial-related data in history.”
A 30-second advertisement that aired during last night’s Republican presidential debate took aim at the CFPB and likely raised the hackles of the bureau’s proponents.
Eighteen U.S. senators led by Cory Booker (D-N.J.), sent a letter last week to the CFPB urging protections for prisoners released from jail who receive prepaid cards when they exit incarceration.
In this age of tablets and smartphones, customers expect instantaneous access to information and services. Emails, tweets, shopping: everything is now real time or forget about it. As a result, instant payment is upon us, writes David Andrieux. Benefits of instant payments aren’t hard to see. For the economy, they allow consumers and businesses to […]
Optimal Payments, a global payments solution provider, today announced its new company name and brand identity, Paysafe Group plc.
Expectations for plastic and e-gift cards are high this holiday season and two new studies—one from Blackhawk Network and one from First Data—shed light on consumer preferences heading into retail’s peak sales season.
Fraud attempts are on the rise throughout multiple industries, according to a new study from fraud prevention and identity verification specialist IDology Inc.
A small Texas bank is digging in its heels in a legal challenge to the CFPB and the appointment of agency director Richard Cordray.
In Uber’s latest move to expand its services to emerging markets, the San Francisco-based company has formed a partnership with Mumbai-based Paybefore Awards winner ItzCash Card Ltd. to reach unbanked consumers in areas outside India’s major cities.
Green Dot is pressing the gas pedal when it comes to expanding GoBank, with new distribution plans for next year, including a new distribution partner and a GoBusiness account rolling out to serve at least one company’s large base of 1099 workers. During last week’s earnings call with investors, Green Dot CEO Steve Streit also discussed plans for new prepaid products, along with MoneyPak Plus—a reload product to replace its discontinued MoneyPak.
Mastercard and Cardlytics have formed a new partnership that will streamline the process for banks implementing Cardlytics’ card-linked marketing offers, and ensure that consumers can access offers online and via mobile devices.
Five months after announcing support for retailer loyalty programs, Apple Pay has landed its first merchant loyalty partner. Members of Walgreens’ Balance Rewards loyalty program now are able to integrate their rewards accounts into Apple Pay, using a mobile device to earn and redeem points when making purchases at the pharmacy giant.
Tim Fitzpatrick has been appointed as the new chief executive of CHAPS, the UK’s same day high-value payment system. Currently HSBC’s Global Payments and Cash Management chief operating officer and group head of payment services.
Companies seeking to appeal a supervisory action undertaken by the CFPB have to play by some new rules, now that the agency has revised its appeals process.
Chief marketing officers at 100 U.S. retailers are expecting a 4.2 percent increase in holiday season total store sales this year, which is in line with last year’s 4.1 percent increase, according to a the 10th annual survey from BDO USA, a professional services firm and consultancy.
The EMV Migration Forum, a cross-industry organization that supports the U.S. shift to EMV chip cards, today announced a package of fresh educational resources and a new working committee to guide the chip card transition for merchants with automated fuel dispensers.
Mobile payments technology provider Mobetize Corp. has formed a strategic partnership with prepaid wireless company Global Service Solutions Inc. and under the new brand Gotwallet, the companies “successfully” will bridge the gap between the prepaid wireless end user and mobile payments, according to a Global Services Solution executive.
Legislators and regulators are grappling with how to apply existing money transmitter laws to an emerging industry. Read about the challenges and latest developments across the U.S.
A group of technology titans are setting aside competitive differences to form a consortium promoting financial services innovation to policymakers.
In the latest example of the global push to speed up payments, Fiserv Inc. and Early Warning, a bank-owned risk management service, today announced a partnership enabling U.S. banks to provide real-time bill payment and deposit services, leveraging the scale of Fiserv’s NOW Network and technology from Early Warning.
Experts have long pointed to loyalty as the key to convincing consumers to adopt mobile wallets.
A snapshot of payments-related earnings reports recently announced is available to you below.
States are getting into the EMV with PIN push, which they say will provide better fraud protection.
A class action related to the Kmart breach in 2014 was struck down.
Visa Inc. has reached a definitive agreement to acquire Visa Europe for up to €21.2 billion (US$23.4 billion), bringing Visa’s global networks under the same roof for the first time since 2007. The long-anticipated deal earned the unanimous support of both companies’ boards of directors and is expected to close in Visa’s fiscal third quarter of 2016, pending regulatory approval.
Amazon is expanding its one-click “Pay with Amazon” feature to third-party mobile apps, capitalizing on the growing popularity of “buy buttons” for mobile commerce.
RushCard will reimburse RushCard customers who experienced financial losses as a result of a temporary service disruption during a technology conversion last month. The company’s systems now are fully restored, the company said Thursday.
