Payments


M-Payments in 2013 to Bring More New Startups, Intensified Competition (January 2013)

M-Payments in 2013 to Bring More New Startups, Intensified Competition January 2013    By Kate Fitzgerald, Emerging Payments Editor The pace of mobile payments entrepreneurial development is likely to remain brisk this year, with venture capital flowing into the sector and likely to drive a number of new concepts from new POS approaches to mobile […]

The Hottest Payments Topics of 2012 (January 2013)

January 2013   By Bill Grabarek, Senior Editor If anyone thought last year couldn’t compare with the events of 2011, they quickly were proved wrong as 2012 turned out to be every bit as transformational. In the U.S. market, we saw a fledgling federal watchdog agency, the Consumer Financial Protection Bureau (CFPB), go from crawling […]

MasterCard signs 10 PSPs for PayPass Online

Ten UK payment service providers have committed to MasterCard’s PayPass Online by MasterCard, part of PayPass Wallet Services, allowing them to accept electronic payments across multiple channels.

Payza Launches New Remittance Service in Bangladesh (Dec. 20, 2012)

Dec. 20, 2012 A new money transfer service from online payment platform Payza will enable Bangladeshis living in the U.S. to quickly and easily send money to relatives and friends back home. With its new SimplySendBD service, Payza aims to capture a piece of the $14 billion annual Bangladeshi remittance market—and establish a successful template […]

BMO Seals Deal with Monitise to Enhance Mobile Banking, Payments Services (Dec. 20, 2012)

December 20, 2012 Canada’s mobile payments offerings continue to multiply. BMO Bank of Montreal is poised to boost its mobile banking and payments offerings through a strategic alliance with London-based Monitise plc to develop a range of new smartphone applications, mobile Web offerings and text-notification services for online and mobile banking. The deal builds on […]

SumUp Mobile POS Device Available in 10 European Markets (Dec. 20, 2012)

Dec. 20, 2012 In a highly competitive European market, SumUp, a London-based provider of mobile POS card readers, has expanded its reach to 10 markets with recent product launches in Belgium, France and Portugal. SumUp enables merchants to accept debit and credit card payments using their smartphones and tablets as a POS device. SumUp is capable […]

NY opening for Consult Hyperion

Electronic transaction specialist Consult Hyperion has opened a New York office. Lanny Byers and Howard Hall will serve as co-managing directors, reporting to chief executive Neil McEvoy.

Letter from the Editor: Happy Holidays from Paybefore (December 2012)

December 2012   It’s been an exciting year for prepaid and emerging payments. We’ve seen intriguing, unexpected partnerships (Starbucks and Square, PayPal and Discover), a steady stream of new mobile entrants attracting investors and, in the past few months, prepaid card launches in the Middle East, Russia and Africa. We expect 2013 to bring even […]

SK signs with First Data for card processing in Poland

SK Bank, a Polish cooperative bank in Poland, has signed with First Data, which will provide outsourced issuing and payment processing services for SK bank’s debit, credit and prepaid card portfolios.

First Data will also enable the bank to access card payment data on a 24/7 basis. The bank also intends to implement Proactive Risk Manager, a fraud transaction monitoring system provided by First Data.

Russian Bank Looks to Grow via Prepaid Cards (Dec. 18, 2012)

Dec. 18, 2012 In a bid to serve a growing market demand and increase its customer base, Russia’s Svyaznoy Bank will issue its first large-scale prepaid card, the bank announced this week. The card will be available in versions branded by MasterCard and Visa, with Gemalto providing deployment and other card services. Svyaznoy already is […]

VeriFone Inks NFC, Mobile Marketing Deal in China (Dec. 18, 2012)

Dec. 18, 2012 On the heels of announcing it would cease marketing its mobile POS system directly to merchants, electronic payments service provider VeriFone Systems Inc. has signed a deal to provide NFC payments and mobile marketing in the city of Shen Yang, China. Under the new partnership with China Mobile and Bank of China, […]

FDIC Report: Mobile Payments Could Threaten Banks’ Security, Market Share (Dec. 18, 2012)

Dec. 18, 2012 Mobile payments could present serious security and competitive threats to financial institutions and other established payments industry players, according to a new FDIC report. In the latest edition of its semi-annual publication “Supervisory Insights,” a team of senior FDIC researchers explained that if consumers adopt mobile payments widely, nonbank players with little […]

People on the Move: Joseph Dwyer, Virtual Piggy Inc. (December 2012)

December 2012 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 Joseph Dwyer chief financial officer. He has more than 20 years of experience at the executive level for public and private companies, including OpenLink Financial, Energy Solutions International, Capstone […]

VeriFone Exits Direct-to-Merchant Mobile POS in ‘Maturing’ Niche (Dec. 17, 2012)

Dec. 17, 2012 VeriFone Systems Inc.’s decision to withdraw from marketing its mobile POS device directly to merchants is the first sign of retrenchment and likely consolidation in what has been a fast-growing niche. The San Jose-based company last week said from now on it will sell its Sail smartphone attachment for mobile card payments […]

MasterCard Launches Prepaid Travel Card in Middle East (Dec. 17, 2012)

Dec. 17, 2012 MasterCard Worldwide is targeting upscale consumers based in the Middle East who travel frequently to different global regions with its new MasterCard Platinum Prepaid Travel Card launched this week in Bahrain. The card, issued by Al Baraka Islamic Bank and Nonoo Exchange Company, both based in Bahrain, enables customers to load up […]

InComm, Dollar General to Offer Xbox Points, Memberships at POS (Dec. 17, 2012)

Dec. 17, 2012 Prepaid distribution and technology provider InComm has inked a deal with Dollar General to enable the retailer’s customers to more easily purchase points and memberships for Xbox LIVE in stores via InComm’s recently launched Digital Delivery Application (DDA). The new system eliminates the need for customers to purchase and redeem physical prepaid […]

CPI Designs Gift Cards for Portuguese Supermarket (Dec. 17, 2012)

Dec. 17, 2012 Colorado-based card producer CPI Card Group was selected by Portuguese retail firm Sonae to design and manufacture gift cards available at Sonae’s Continente supermarket locations throughout the country. The cards will be sold at special free-standing displays rather than at points of sale—one of the first gift card lines in Portugal to […]

Imago Digital Wallet Bridges the Technology Gap (Dec. 17, 2012)

Dec. 17, 2012 QSecure Inc., a Los Altos, Calif.-based developer of dynamic payment card technology, has announced its digital wallet, Imago, which consists of a smartphone app to manage payment, gift and loyalty cards, and the powered ImagoCard that holds the data of those cards and can be swiped at the point of sale like […]

People on the Move: Alex Chung, Smart Packaging Solutions (December 2012)

December 2012 Smart Packaging Solutions, a smart card technology provider based in France, has appointed Alex Chung chief representative, greater China and South East Asia. Chung, who has experience within the smart card industry, will be in charge of expanding SPS business in the Chinese market and ensuring SPS local presence in Southeast Asia. Most […]

People on the Move: Shawn Creedon, Patton Boggs LLP (December 2012)

December 2012 Shawn Creedon, a corporate finance lawyer with nearly 20 years of experience in principal investing, bankruptcy and restructuring, has joined Washington, D.C.-based law firm Patton Boggs LLP as a partner in the firm’s corporate finance practice group in its New York City office. He joins Patton Boggs from Silver Point Capital L.P., where […]

People on the Move: Jeffrey Green, Mercator Advisory Group (December 2012)

December 2012 Mercator Advisory Group has hired Jeffrey Green to lead the company’s emerging technologies service. Green, who has 16 years of payments industry editorial experience, most recently served as editorial director of the payments group at SourceMedia, where he managed the payments group and coordinated coverage with multiple publications and departments.   Send Us […]

People on the Move: GlobalPlatform, Board of Directors (December 2012)

December 2012 GlobalPlatform, a nonprofit organization that standardizes managing applications on secure chip technology, has announced its board of directors for fiscal year 2013, following elections for six of its 11 seats: Marc Kekicheff, senior business leader of chip innovation, Visa Inc.; Uwe Wittig, group vice president, head of business line payment, transit and authentication, […]

People on the Move: Chris Flink, Fiserv Inc. Board of Directors (December 2012)

December 2012 Fiserv Inc., a Brookfield, Wis.-based financial system and service provider, has appointed Chris Flink to its board of directors. He is a partner at IDEO, an innovation and design firm, and a consulting associate professor at Stanford University. At IDEO, Flink has held a variety of roles, from heading the firm’s consumer experience […]

Court Rejects Bid for Expedited Appeal of Interchange Settlement (Dec. 13, 2012)

Dec. 13, 2012 The latest blow in the continuing court battle over interchange fees charged to merchants for accepting Visa and MasterCard credit cards was struck this week, when an appeals court declined a request by Home Depot to expedite the retailer’s appeal of a $7.25 billion settlement proposed in July. The agreement—which received preliminary […]

Discover Deal Connects U.S. Online Merchants to 3.2 Billion China UnionPay Cardholders (Dec. 13, 2012)

Dec. 13, 2012 Merchants that accept Discover cards online soon will have a secure, streamlined approach to selling goods to billions of Chinese shoppers through a new agreement between Discover Financial Services, the giant Shanghai-based card network China UnionPay (CUP) and CardinalCommerce Corp., a Cleveland-based card authorization platform provider. Beginning early next year, CUP’s 3.2 […]

PayPal’s Continues In–Store Push with InComm Reload Product (Dec. 13, 2012)

Dec. 13, 2012 PayPal Inc. has been pushing hard into brick-and-mortar retail this year—and now the online payment giant is giving users yet another reason to get into stores. The company—in partnership with third-party distributor and technology provider InComm—has unveiled its new PayPal My Cash Card, which enables users to fund their PayPal accounts via […]

Senator Casey Supports Blumenthal’s Gift Card Protection Act (Dec. 13, 2012)

Dec. 13, 2012 U.S. Sen. Robert Casey (D-Pa.) this week announced his support of the Gift Card Consumer Protection Act, which would prohibit expiration dates and dormancy, inactivity and service fees on gift certificates, store gift cards and general-use prepaid cards. The bill (US S 3636) also aims to prevent companies filing for bankruptcy from […]

Earthport sees Turkey before Christmas

Cross-border payments service provider Earthport has opened a low value payments service into Turkey, which will allow Earthport’s clients to reach an estimated 42 million bank accounts.

HSBC Pays Record $1.9 Billion in Settlement Following AML Investigation (Dec. 11, 2012)

Dec. 11, 2012 HSBC’s record $1.9 billion payout to settle allegations that it violated U.S. anti-money laundering (AML) rules suggests that the government is getting better at spotting and punishing organizations that try to skirt regulations, legal experts say. U.K.-based HSBC Holdings plc today said it reached a deferred-prosecution agreement with the U.S. government following […]

InComm Nabs Adility to Bridge Mobile, In-Store (Dec. 11, 2012)

Dec. 11, 2012 Prepaid services provider InComm has reached a deal to acquire a majority stake in Adility Inc., a platform for “online-to-offline” commerce, which InComm will integrate into its existing in-store POS infrastructure in a bid to help retailers generate retail sales using virtual prepaid cards and coupons. Adility enables retailers and brands to […]

First Data: November, Black Friday Spending Weaker than Last Year (Dec. 11, 2012)

Dec. 11, 2012 Dollar volume growth for November was solid but came in lower than last month and the year-ago period, according to the latest SpendTrend data released by First Data Corp., an Atlanta-based payments processor. November dollar volume growth was 5.8 percent, down from 6.7 percent in October and down from 7.3 percent in […]

Bango Stretches to Australia with Google Play Deal (Dec. 11, 2012)

Dec. 11, 2012 Mobile payments specialist Bango Inc. is expanding its reach again, this time to Australia where local mobile network operator Telstra has added the capability for its subscribers to make one-click purchases of digital goods through Google Play. U.K.-based Bango, which began providing payment services to Facebook earlier this year, recently integrated a […]

Startup Combines Mobile Shopping, Loyalty, Gifting in One App (Dec. 11, 2012)

Dec. 11, 2012 A new startup aims to combine shopping, loyalty and gifting to provide what it calls “the most relevant offers to consumers and the most targeted customers to merchants.” Philadelphia-based Clutch last week launched its free iOS app, which enables users to manage gift and loyalty cards, daily deals, coupons, social gifting and […]

Apple Piles Up Patents as ‘Defensive’ Strategy, Analysts Suggest (Dec. 10, 2012)

Dec. 10, 2012 Apple Inc.’s Passbook mobile wallet app gradually is gaining momentum with merchants and card issuers integrating with the mobile wallet app. And while Apple continues to remain mum about plans to add NFC to its handsets, where Apple is going with its proliferating number of other payments-related patents is anyone’s guess. Apple […]