The Utah Transit Authority’s (UTA) prepaid reloadable contactless FAREPAY card in Salt Lake City, supported by InComm, appears to be a hit with riders, as one of several promising new mass-transit payment options around the U.S.
Lawmakers yesterday continued their calls to strengthen regulations protecting consumers’ financial data in the wake of recent retailer data breaches.
While receipts offer tantalizing indirect evidence of past activities, they tell us only a very modest amount about the habits, personalities or needs of the purchaser. For merchants, it’s where consumers are going next—and why they’re going there—that really matters.
More than 125,000 online gambling accounts were created in less than a month, according to New Jersey’s Division of Gaming Enforcement. As one of three states where online gambling is now legal, the Garden State presents significant opportunity for digital wallet providers.
From smartwatches to voice-recognition capabilities, 2014 promises to be mobile’s best year yet. And these and other mobile trends will influence payments and financial services innovation.
Momentum has accelerated in recent weeks for the U.S. shift to EMV, driven by growing public awareness of the need to enhance card security, Stephanie Ericksen, Visa’s head of authentication product, told attendees today at the kickoff keynote address at the Smart Card Alliance’s 7th annual Payments Summit in Salt Lake City.
SinglePoint Inc. has developed Mobile Cannabis Currency, a mobile payment system branded for the cannabis and medical marijuana industry, enabling merchants to accept credit card payments using their mobile phones.
Marla Blow has left the Consumer Financial Protection Bureau to serve as CEO of Fenway Summer’s credit card venture.
Although the consensus in yesterday’s Senate subcommittee hearing on “Safeguarding Consumers’ Financial Data” seemed to be around the shared responsibility of all stakeholders, including government, to protect financial data, the FTC specifically called for legislative action.
The Network Branded Prepaid Card Association (NBPCA) has released an updated version of its Recommended Practices for Anti-Money Laundering Compliance.
The European Parliament this morning approved the European Commission’s proposal to extend the deadline for payments to comply with SEPA regulations to Aug. 1, 2014.
Australia is lighting up as the next hotbed of m-POS activity as Mint Wireless makes key moves to target a fast-growing base of small businesses going mobile and Square Inc. reportedly is considering expansion Down Under.
Mobile money firm Monitise has acquired Pozitron Yazilim, an Istanbul-based mobile technology specialist, in a £24 million all-shares deal that highlights the growing demand for mobile financial services in the eastern Mediterranean’s largest market.
Digital gift cards were a hot item during the 2013 holiday season and got even more popular than plastic as Christmas neared, according to data from prepaid services provider InComm.
Could Royal Bank of Canada (RBC) make a breakthrough with P2P by making it a cinch to send funds to Facebook friends?
Dunkin’ Donuts has launched a new nationwide loyalty program enabling customers to earn points toward free beverages.
Monitise plc has acquired Pozitron Yazilim A.S., an Istanbul-based, privately owned mobile technology company.
E-commerce behemoth Amazon isn’t satisfied with success in the digital world.
U.S. Bank is testing a voice-based biometrics mobile banking feature that could foreshadow the future of mobile payments if consumers warm up to it, Dominic Venturo, chief innovation officer at U.S. Bank, told attendees today at the Card Innovation Summit in Tempe, Ariz.
Starbucks gift card holders now can redeem the unused balances on their cards for Bitcoin.
The Senate Banking Committee will hold a hearing next week on safeguarding consumers’ financial information in the wake of recent data breaches at several major U.S. retailers.
SIX Payment Services has apologised after a technical glitch caused a number of debit card transactions in Switzerland and Liechtenstein to be accidentally booked twice on 22-23 January. Following the disaster, SIX managed to reverse 99.93% of the double bookings, with the remainder due to be reversed individually in the coming days. On average SIX […]
Pitchers and catchers might not report to spring training until mid-February, but StoreFinancial already is thinking about baseball.
ederal prosecutors have charged the head of digital currency exchange BitInstant with conspiring to commit money laundering and operating an unlicensed money transmitting business.
The United States Postal Service’s Office of Inspector General has once again suggested that the Postal Service should consider providing financial products, including prepaid cards.
Madrid-based El Corte Inglés, Europe’s largest department store chain, this year plans to upgrade the majority of its POS terminals to accept contactless payments from NFC-enabled cards and handsets.
Russian online customs specialist firm Multiservice Payment System has begun using a new system designed by Swiss tech firm BPC Banking Technologies, which promises to make customs easier by combining a web portal with an e-declaration service via POS terminal.
Apple Inc. is making plans to launch a mobile wallet service for its iPhone, iPad and iTunes users, according to a Jan. 24 Wall Street Journal report.
The Consumer Financial Protection Bureau has proposed a rule it says would enable the agency to oversee larger, nonbank, international money transfer providers to ensure they are following the CFPB’s new protections for consumers sending money abroad.
Payments processor Stripe Inc. has secured $80 million in a new round of investment that valued the 4-year-old startup at $1.75 billion.
Austin, Texas-based prepaid processor Rev Worldwide has partnered with Chinese payment card giant UnionPay to “grow prepaid market opportunities around the world.”
There are two sides to every coin, but with Bitcoin those sides simply could not be farther apart. Its promise is extraordinary: for those afraid of inflation, it is gold redux, while for those who hate exchange rates, it is a way to pay internationally. For merchants it is a way of avoiding high transaction fees and for former Presidential hopeful Ron Paul, it is the destruction of the US Dollar.
T-Mobile USA Inc. this week became the first major U.S. mobile carrier to enter the GPR prepaid arena with Mobile Money by T-Mobile, a new smartphone application and accompanying Visa prepaid card.
With the Isis mobile wallet now live across the U.S., iPhone users remain unable to use the wallet to make contactless in-store purchases due to the handset’s lack of NFC capability.
Toyota owners in the U.K. can make car payments via mobile device, now that the automaker has signed on with the Barclays Pingit mobile payment app.
Clear2Pay is expanding its facilities in Scotland with the hire of 29 new staff, at its Dunfermline offices, bringing the headcount there to 50. The expansion is supported by a £250,000 Regional Selective Assistance grant from Scottish Enterprise. Kimball Felix, chief of staff at Clear2Pay, said, “In addition to our payments technology, we offer a […]
While there are now a dozen ways to build and maintain relationships with customers, many organizations often still treat these channels as separate silos, creating a disjointed customer care experience. By sharing data across channels, you’re more likely to have less frustrated, more loyal customers.
How employees are using their accounts can have a dramatic impact on an employer’s overall HSA strategy and benefit plan. As we approach the 10th anniversary of the enabling legislation for HSAs, the industry, employers and brokers/agents all have the opportunity to move HSAs forward with the use of insightful reporting and analytical tools.
2014 is shaping up to be a big year for e-money and those players with the ability to spot opportunities (think loyalty and mobile), and the agility to react to them, will increase market share and thrive.
While many large organisations have already planned and delivered their SEPA compliance, smaller and mid-sized firms have woefully underprepared for the deadline. Banks and payment organisations need to be prepared for a certain amount of confusion and resistance from UK customers who may not understand the reasons for the change, and may be reluctant to put the necessary changes into effect.
