Blog: Tackling Financial Literacy Is a Team Effort
Wherever you sit in the industry, you can help the end users of prepaid products (or future users) by supporting basic financial education. The key is to make it fun.
Payments
Blog: From Atoms to Bits: The Digital Age of Money
As we move to digitize everything, the transition to digital wallets hasn’t been an easy feat. O2 recently announced it would discontinue its mobile wallet and despite efforts by industry heavyweights, mass adoption of a digital/mobile wallet still is proving elusive.
Visa and MasterCard Green-Light HCE, Giving Banks and Merchants New NFC Options (Feb. 19, 2014)
Visa and MasterCard today announced plans to support Host Card Emulation, which enables storage of card credentials in the cloud, rather than using the secure element embedded in handsets, a move observers say could reignite prospects for NFC.
Orange Cash Expands to Spain (Feb. 19, 2014)
Mobile network operator Orange is launching its Paybefore Award-winning Orange Cash prepaid MasterCard in Spain.
Executive Profile: One on One with Mark Putman, First Data
As a startup veteran with five companies under his belt, Mark Putman never foresaw his future as an executive for a large company. Today, he oversees the prepaid business at First Data Corp., one of the world’s largest payments processors, as senior vice president of prepaid solutions.
Innovators’ Spotlight: Planet Payment
A global multicurrency processor is breaking down borders to make global shopping a local experience.
Earthport launches payments route to Mexico and Colombia
Cross-border payments company Earthport has launched two new routes into Mexico and Colombia, as part of a drive to open up Latin America for faster, more efficient and transparent payments.
U.S. Bancorp, Monitise Unveil Digital Watermark-Based Mobile Shopping Platform (Feb. 18, 2014)
U.S. Bancorp and U.K.-based Monitise plc have partnered to launch a white-label mobile commerce platform dubbed Peri.
Congressional Agency Calls for Clearer Campus Card Guidelines (Feb. 18, 2014)
The Government Accountability Office is the latest government agency to scrutinize the increasingly popular campus-based debit and prepaid cards.
RBI Report Outlines Technology for Banks, Telcos to Develop Mobile Banking (Feb. 18, 2014)
The Reserve Bank of India continues to encourage development of mobile banking across its nation, where 870 million consumers have a mobile handset but fewer than half of those have bank accounts.
Company on the Move: Calpian Inc.’s Money-on-Mobile, The Indian Merchants’ Chamber Award
Calpian Inc., a global processing and mobile payments technology company, announced that Money-on-Mobile, its India-based subsidiary and prepaid mobile payments company, has been recognized for “Excellence in Information Technology Service” by The Indian Merchants’ Chamber.
Cashing out: Ontario mobile payment infrastructure is on the money
Canadians are in a hurry to get rid of their cash – at least as a method of payment, nor are they content with the contactless tap-and-go cards currently in use; they are anxious to replace cards with contactless smartphone technology, writes Aaron Rosland, senior economic counsellor for the Government of Ontario, Canada.
Amazon Goes with ‘Flow’ to Challenge Brick-and-Mortar Retailers (Feb. 13, 2014)
Amazon this month updated its iOS shopping app with a new feature called Flow, which could add rocket fuel to the “showrooming” phenomenon already affecting brick-and-mortar retailers.
MasterPass Says ‘Hola’ to Spain (Feb. 13, 2014)
MasterCard has launched its MasterPass online shopping service in Spain, the payment card network said this week.
MCX Adds Platform Provider Paydiant and Burger Chain Wendy’s (Feb. 13, 2014)
Merchant Customer Exchange (MCX), the Coppell, Texas-based, retailer-led mobile payment consortium founded in 2012, is adding Paydiant’s cloud-based platform to its mobile commerce infrastructure.
CVC Capital Finalizes 600 Million-Euro Skrill Buy (Feb. 13, 2014)
A controlling stake in European online payment company Skrill Group has been acquired by CVC Capital Partners, one of Europe’s largest investment consortiums.
It’s 2014 … time to change the way you think about payments
Ten years ago business-to-business payment options were pretty limited: cheques dominated, and organisations only had the option of 3-day BACS payments or expensive CHAPS transactions for high value, same day payments.
Payza Looks to Grow Global Reach with New Enterprise Service (Feb. 11, 2014)
Online payment provider Payza has begun offering its platform directly to money service companies, officially launching its strategic partnership phase, first announced at the end of 2013.
Vodafone Adds MoneyGram Network for M-Pesa Remittances (Feb. 11, 2014)
Vodafone has inked a deal with MoneyGram that will enable anyone to send funds via MoneyGram’s 334,000 agents worldwide to users of Vodafone’s popular M-Pesa mobile payment service.
U.S. Reps Scheduled to Vote on CFPB Bill Tomorrow (Feb. 11, 2014)
The U.S. House of Representatives is scheduled to vote tomorrow on the Consumer Financial Protection and Soundness Improvement Act (H.R. 3193).
Class Action Dismissed: Expiration Date Receipt Disclosure
A consumer’s class action suit reminds businesses to adhere to FACTA requirements, and prevent potential identity theft and fraud.
Pew Report: GPR Card Fees Go Down, But Regs Still Needed (Feb. 10, 2014)
GPR card products are on the rise and have become more affordable over the last year, according to a new report from the Pew Charitable Trusts, which examined 66 GPR cards and compared the findings to a similar report in 2012.
N.Y. Regulators Seek Digital Currency Laws that Preserve Innovation; Money2020 Announces Bitcoin Focus in 2014 (Feb. 10, 2014)
A recent hearing before N.Y. State officials outlined the possible road map toward government regulation of Bitcoin and other digital currencies.
PayNearMe Expands Footprint with Family Dollar Deal, Raises $20 Million (Feb. 10, 2014)
Hot on the heels of a fresh infusion of capital, PayNearMe, a Sunnyvale, Calif.-based cash transaction network, last week announced a deal with Family Dollar, enabling consumers to use cash for online purchases, payments toward loans and rent, among other transactions, at the discount retailer’s more than 8,000 locations.
IND acquisition opens chink in competitors’ armour for Misys
The acquisition of digital banking specialist IND Group will give Misys access to parts of its rivals’ customer base that it intends to exploit as it develops its offerings in the digital banking channel, while the closer integration of the IND capabilities will also shore up Misys’ defences against encroachment of its own ageing user base.
Company on the Move: Optimal Payments, International Gaming Awards
Optimal Payments, a London-based online payment solutions provider, recently won an award at the International Gaming Awards dinner in London this month.
Isis Touts Progress as Wells Fargo Dangles 20 Percent-Off Promo (Feb. 6, 2014)
Isis, the NFC-based mobile payment initiative backed by the nation’s major wireless carriers, has hit a few key milestones recently that will go a long way toward building the scale vital to the effort’s success.
Weve, MasterCard Partner in U.K. to Push NFC Mobile Payments Forward (Feb. 6, 2014)
MasterCard has joined forces with Weve, the mobile payments joint venture from the U.K.’s three largest mobile telecom providers, to accelerate adoption of NFC mobile payments.
Transportation Official: Utah’s Reloadable Prepaid Transit Card Gaining Popularity (Feb. 6, 2014)
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.
Calls for Regulatory Overhaul as Congressional Hearings Continue on Data Security (Feb. 6, 2014)
Lawmakers yesterday continued their calls to strengthen regulations protecting consumers’ financial data in the wake of recent retailer data breaches.
Blog: Beyond the Receipt: New Tools Combined with Old Offer Consumer Behavioral Insights
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.
Blog: Online Gamblers and Digital Wallet Providers Cash In
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.
Blog: The Top Four Mobile Musts in 2014
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.
Visa: U.S. EMV Migration Gains Broader Awareness, Momentum (Feb. 5, 2014)
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.
Cannabis Sales Set To Go Mobile (Feb. 5, 2014)
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.
People on the Move: Marla Blow, Fenway Summer LLC
Marla Blow has left the Consumer Financial Protection Bureau to serve as CEO of Fenway Summer’s credit card venture.
FTC Calls for Legislative Help to Protect Data in Senate Subcommittee Hearing (Feb. 4, 2014)
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.
NBPCA Issues Updated Guidance for AML Compliance (Feb. 4, 2014)
The Network Branded Prepaid Card Association (NBPCA) has released an updated version of its Recommended Practices for Anti-Money Laundering Compliance.
European Parliament Backs EC Proposal to Extend SEPA Deadline to Aug. 1 (Feb. 4, 2014)
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.
Australian Investment Firm Bets Big on Mint Wireless (Feb. 4, 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.
