FIS, Wintrust Rolling out Cardless ATMs in Chicago (Jan. 7, 2015)
Nearly 200 ATMs in the Chicago area are going cardless under a new initiative from Wintrust Financial and FIS.
Payments
Polish Banks Embrace HCE-Based Mobile Payments (Jan. 7, 2015)
Nine banks in Poland are preparing to launch mobile payments services via host card emulation (HCE) technology early this year, according to Visa Europe.
SCOTUS to Determine Whether to Hear NACS Appeal on Interchange (Jan. 6, 2015)
The U.S. Supreme Court has scheduled a conference this Friday to determine whether it will grant certiorari and move forward with oral arguments in NACS v. Board of Governors of the Federal Reserve System, which pertains to debit interchange fees and network routing requirements.
FDIC Guidance Sheds Light on Prepaid Cards, Brokered Deposits (Jan. 6, 2015)
The FDIC has issued guidance to promote consistency by insured depository institutions in identifying, accepting and reporting brokered deposits. The guidance, which is in the form of “frequently asked questions,” addresses prepaid cards.
i2c, CPS Launch Corporate Rewards Card Down Under (Jan. 6, 2015)
Payment processor i2c Inc., and Melbourne, Australia-based program manager Corporate Prepaid Solutions (CPS) have launched the Visa-branded uChoose corporate rewards gift card in Australia, setting the stage for global collaboration on additional corporate prepaid programs.
U.K. Banks Eye Apple Pay, But Some Fear a Worm (Jan. 6, 2015)
Several major British banks reportedly are in negotiations with Apple to bring the tech giant’s Apple Pay service to the U.K. before the midway point of this year.
NBPCA, ETA Request Extension of CFPB’s Comment Period (Jan. 5, 2015)
The NBPCA and the Electronic Transactions Association (ETA), the global trade association representing the payments technology industry, submitted a joint letter today requesting a 60-day extension to the comment period for the CFPB’s NPRM on prepaid.
EU VAT Law Aimed at Leveling Playing Field Goes into Effect (Jan. 5, 2015)
The start of a New Year also brings a new EU law into effect that’s intended to stop companies from undercutting their competition by setting up in low-tax countries. However, the law also could increase the tax on purchases of digital content like mobile applications, music downloads and e-books.
2014 Recap: Another Look at an Important Year in Payments (Jan. 5, 2015)
Bookmark our 2014 year in review for easy reference as you make plans and set strategy for the New Year.
Chevron to Add Apple Pay at Gas Pumps (Jan. 5, 2015)
Drivers soon will be able to pay with Apple Pay when filling up at Chevron stations, now that the fuel chain has announced plans to integrate the contactless payment system into its pumps.
Mark Your Calendars: Important Industry Deadlines in Q1 (Jan. 5, 2015)
The payments industry has two dates quickly approaching regarding NPRMs and their respective comment periods, which already have begun.
Reminder: Important Industry Deadlines Ahead (Jan. 2, 2015)
With much of the holiday revelry come and gone, the payments industry must refocus on two important NPRMs and their respective comment periods, which already have begun.
SafeCharge Enters New Verticals with 3V Acquisition (Jan. 2, 2015)
Dublin-based 3V Transaction Services Ltd., which specializes in issuing, processing and management of prepaid card programs, will be the foundation of a new issuing division of SafeCharge, which acquired the technology provider for €14.5 million (US$17.4 million).
The Biggest Payments Stories of 2014
As you get back to business in 2015, bookmark this catalog of the biggest stories from the past 12 months as well as insights into the future of payments in the New Year.
NTIS Expected to Publish Death Master File NPRM in Federal Register Tomorrow (Dec. 23, 2014)
The National Technical Information Service (NTIS) is expected to publish tomorrow its NPRM in the Federal Register that would create a certification program to replace the temporary certification program in place now for access to the Death Master File (DMF).
SVS: 92% of Shoppers to Spend Same or More on Gift Cards (Dec. 23, 2014)
Seven of every 10 shoppers plan to buy gift cards this holiday season and, among them, 92 percent of shoppers plan to spend either the same amount or more on gift cards than they spent last year, according to an interim holiday spending report by Stored Value Solutions (SVS).
Alibaba, SoftBank Discuss Collaboration in India (Dec. 23, 2014)
Chinese e-commerce giant Alibaba Group and Japanese telecom and Internet firm Softbank are in the midst of preliminary talks to work together, instead of compete, to capture a sizable chunk of India’s consumer Internet market, according to a report.
Company on the Move: CPI Card Group, Center of Excellence Recognition
Littleton, Colo.-based card producer CPI Card Group has received the Center of Excellence award for the second consecutive year at the Smart Card Alliance’s annual member meeting.
Company on the Move: Fiserv Inc., Technology Award
Fiserv Inc., a global provider of financial services technology solutions, has received awards in two categories at the Banking Technology Awards, held in London.
Clock Starts Tomorrow for CFPB’s Prepaid Card Comment Period (Dec. 22, 2014)
The CFPB’s NPRM on prepaid accounts is scheduled to be published in the Federal Register tomorrow.
N.J. General Assembly Passes ZIP Code Repeal Bill (Dec. 22, 2014)
The N.J. General Assembly last week approved by a vote of 73-1 the ZIP code repeal bill (A-3480), which eliminates the collection of consumer ZIP code information for gift cards at the POS.
Starbucks, Square Go Separate Ways on Mobile Payments (Dec. 22, 2014)
The mobile payments piece of Starbucks’ partnership with Square has ended.
M&A Roundup: Mozido, CorFire, Payment Data Systems, Akimbo Financial (Dec. 22, 2014)
Industry experts earlier this year predicted abundant M&A activity in the payments industry, and they are being proved correct right to the very end of 2014.
EU Officials Agree to Cap Interchange Fees (Dec. 18, 2014)
Members of the Economic and Monetary Affairs Committee and European Union Council negotiators yesterday agreed to cap the interchange fees on cross-border and domestic card-based payments, ensuring uniform rules across the EU.
Holiday Spending Growth Down, But Consumer Confidence Appears Stronger (Dec. 18, 2014)
Store openings on Thanksgiving Day and the typical headline-seeking weekend deals by retailers helped somewhat during the traditional kickoff to the holiday shopping season this year.
Toronto, Jakarta Transit Payment Systems Going Electronic (Dec. 18, 2014)
Transit systems throughout the world continue to adopt electronic payment systems—the latest among them Toronto and Indonesian province Jakarta.
Innovators’ Spotlight: SUBWAY (Franchise World Headquarters LLC)
The mega-chain goes mobile with many partners and a mobile app of its own with two key ingredients—convenience and loyalty.
Viewpoint: Strategic Priorities for Success in Today’s Prepaid Environment
Changing times call for new priorities. Clients want a partner with a nimble organization and a flexible and feature-rich technology stack, but not at the expense of business and operational reliability.
Viewpoint: The Power of Push Marketing with Good Data and Analytics
Financial services providers have amassed mountains of data about customers, but what’s it worth? Real value comes from the analysis and timely application of knowledge through push marketing campaigns and ongoing product improvements.
Blog: A Soon-to-Be Must-Have: Biometrics Authentication for Customer Service
Apple Pay’s Touch ID application has pushed biometrics payments authentication into the mainstream. But biometrics authentication goes beyond fingerprint sensors, and voice biometrics authentication is one of the best ways to thwart identity fraud.
CFPB Calls for Greater Transparency in Campus Card Agreements (Dec. 16, 2014)
The CFPB is calling for greater transparency from colleges and financial institutions when they enter agreements to offer prepaid or debit products to students.
First Data, Verifone Reduce Merchants’ Data Breach Exposure (Dec. 16, 2014)
First Data Inc. and Verifone are helping U.S. merchants reduce their exposure to large-scale consumer payment data breaches and expedite merchant acceptance of EMV-enabled credit and debit cards.
Apple Making it Easier for PayPal, Google Wallet Users (Dec. 16, 2014)
Apple in recent weeks has become somewhat more accommodating to consumers who use PayPal or Google Wallet. For example, consumers in the U.S. and U.K. now may use PayPal when making purchases on Apple’s online store.
LevelUp Completes NCR Silver Integration, Rolls Out Gift Card Feature (Dec. 16, 2014)
NCR Corp. today announced the NCR Silver POS system now includes a feature enabling merchants to easily add LevelUp, the mobile payments and loyalty network, to customer payment options.
Fingerprint authentication for mobile finance moves closer with FIDO
Widespread use of fingerprint authentication for financial transactions on mobile devices could start taking off from early next year as Bank of America, Wells Fargo, Google, Samsung, Lenovo, Microsoft, Alipay and others adopt a new authentication standard through their joint project, the FIDO Alliance, which has just published its specifications and launched its first server.
Amex Launches Savings Research, Sharing Findings with CFPB (Dec. 15, 2014)
American Express has launched a research pilot to study what marketing tactics and behavioral triggers can convince cardholders to save using its Serve prepaid account software platform.
Fiserv: Millions of Consumers Want Mobile Bill Pay, Options (Dec. 15, 2014)
The growth in consumer popularity of mobile bill pay features continues unabated as 27 million U.S. households with access to the Internet are paying at least one bill from their phones, an increase of nearly 70 percent compared with 2013, according to The Seventh Annual Billing Household Survey from Fiserv.
Rev Launches Travel Card in India with FX Provider (Dec. 15, 2014)
Paybefore Award-winning Rȇv Worldwide is continuing its focus on multicurrency travel cards with its latest launch in India.
Are Driver’s Licenses Headed for Mobile Wallets? (Dec. 15, 2014)
If Maxwell the talking pig can show a police officer his proof of Geico insurance on a smartphone, why not a driver’s license?
Seasonal Gift Card Sales Headed for Record; Online and Digital Sales Propelling Growth
Overall holiday sales figures may be a mixed bag so far this year, but gift card sales for the season are on track to hit news sales peaks in the U.S. and the U.K., aided by an uptick in online sales, plus growing popularity for digital gift cards, new data suggest.
