Consumers may be complaining a lot about financial services in general, but those complaining to the CFPB about prepaid make up about 0.19 percent of the 411,434 complaints in the agency’s Consumer Complaint Database.
eBay’s spinoff of PayPal has reached two key milestones with board approval and an announcement that PayPal will begin trading its own stock next month on NASDAQ under the stock ticker symbol “PYPL.”
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New payments options are springing up all over the place – except for the underlying infrastructure where current arrangement for access and governance may be a hinderance to innovation, according to the head of the UK’s Payment Systems Regulator.
The Supreme Court’s 6-3 decision to uphold tax credits for consumers in 34 states with federal health insurance exchanges as part of the Affordable Care Act (ACA) may not have huge implications for the benefit card industry.
A group of Canada’s major wireless carriers this week announced support for the NFC-based suretap mobile wallet, and with one major bank already on board, the move looks like a watershed moment for telco-led mobile wallets, which generally have struggled to catch on elsewhere.
The Indian government’s efforts to shift the country’s economy away from cash have taken a significant step forward.
The Chinese renminbi continues to gain ground internationally as more banks adopt the currency, propelling its position into the top five global payment currencies worldwide, according to the latest batch of data from Swift.
The NBPCA has announced that Brad Fauss has been elected to serve as its new president and CEO.
Brian M. Axell has joined the law firm Lindquist & Vennum LLP as partner in the financial institutions practice in the Minneapolis office.
MasterCard has appointed Hiang Choong as division president, Hong Kong, Macau and Taiwan, and two co-presidents for the Asia-Pacific region, Singapore-based Ling Hai and Ari Sarker.
Square Inc. has announced that business leader, philanthropist and basketball hall of famer Earvin “Magic” Johnson will join its board of directors this summer.
TSYS has promoted Keith Pierce to executive vice president for relationship management.
Virtual Piggy Inc. has appointed Phillip Manning and Dale Jensen, to its board of directors.
Visa Inc. announced that its board of directors has elected Lloyd A. Carney as an independent director, who will serve as a member of the board’s audit and risk committee.
Traxpay, a B2B payments solutions provider, has appointed Jochen Siegert chief operating officer.
Green Dot Corp. and Walmart have recommitted to their fruitful relationship for another five years, and though the companies are mum on the details of their revenue-sharing arrangement, the deal enhances the outlook for the iconic financial services provider.
Chinese e-commerce giant Alibaba has invested millions in various online marketplaces in the U.S., but this week it announced plans to sell its 1-year old U.S. online marketplace 11 Main to OpenSky.
Gyft, a San Francisco-based mobile gift card company and subsidiary of First Data Corp., has partnered with Chain, an application program interface (API) developer, to create a gift card trading platform that uses blockchain technology.
The afternoon sessions at the Banking Technology Forum 2015 focused on mobile payments, the data dilemma, cyber-security and regulation with speakers from Zapp, GSMA, EY and many others
Coffee kings Dunkin’ Donuts and Starbucks are racing to see who can get consumers their caffeine fix fastest by streamlining mobile ordering and payments in their respective apps.
Texas Attorney General Ken Paxton has filed a lawsuit against bankrupt RadioShack Corp. to help ensure consumers in the state receive their collective $43 million in unredeemed gift cards.
The U.K. Law Commission is exploring ways to protect gift card holders in the event of retailer insolvency and is requesting comments on its proposals by Sept. 17.
Swift has brought the management of its Americas, UK, Ireland and Nordics units under one head following the decision of Chris Church, chief executive of Swift Americas and global head of securities, to leave after seven years with the industry consortium.
Identity verification by financial institutions is necessary—but it doesn’t have to be a necessary evil. Combining mobile technology with knowledge-based authentication can help improve activation rates with a process that’s simple for the cardholder and secure. Here’s how.
As the consumer demand for remote login and flexibility continues to rise, organizations are struggling to find and deploy authentication methods that are effective, easy to use, impervious to theft and scalable. Say hello to biometrics.
Mobile shopping is growing fast in the Asia-Pacific region, according to a newly released study by MasterCard.
A growing number of consumers are eschewing traditional checking accounts in favor of GPR prepaid cards in large numbers, according to a report by CardHub, a search tool owned and operated by Evolution Finance that assists consumers in searching for, comparing and applying for payment cards.
London has been selected as the host city for Sibos 2019 following a successful bid by ExCeL London and London & Partners, the official promotional company for the city.
Corporate users are increasingly adopting mobile payments, according to figures from HSBC, which expects usage of its HSBCnet Mobile corporate banking platform to double over the next 18 months, reaching $100 billion in payments.
Two key takeaways from the NBPCA’s Power of Prepaid event in Washington, D.C., last week are that relationships matter and industry stakeholders must bring consumer benefits to the forefront of any discussion with lawmakers and regulators.
European lawmakers will meet next week to agree on a road map toward finalizing data protection reform this year.
The U.S., Japan and China are working on regulations to prevent the use of digital currencies, such as bitcoin, from being used to finance illegal activities or terrorist organizations, according to Japanese newspaper Nikkei.
Google Inc. today announced the rollout of Google-branded prepaid vouchers in India to enable Indian consumers who lack credit cards to purchase digital content on Google Play.
Canada’s leading payments players have formed an industry group to support the fast-paced development of the country’s prepaid sector. The Canadian Prepaid Providers Organization (CPPO) plans to spread awareness and education about prepaid products and serve as the collective voice for the Canadian open-loop prepaid industry.
Seven and a half years ago, I wrote my first communication as the CEO of Paybefore, and now I’m writing my last. I’ve made the very difficult (but exciting) decision to retire from Paybefore.
The agency is collaborating with tax preparation software firms, payroll and tax financial product processors and state tax administrators on the initiative to stem the growing problem of ID-related tax fraud.
The Bancorp, a major provider of prepaid card services in the U.S. and Europe, is extending open-loop mobile contactless payment capabilities to its clients in the region through a new partnership with mobile payments company MeaWallet.
MasterCard is extending its digital enablement services (MDES), which provide digital tokens, to store-branded credit cards and merchant card-on-file programs, including apps, e-commerce sites and recurring billing services.
For the new banks now is the chance to disrupt the banking industry. No legacy systems or existing processes or old thinking – they can jump straight to the new. Except, of course, those new banks that are being spun out of existing banks, where that infrastructure, IT and operations are supported by the current systems of the existing bank …
