MasterCard Initiatives Give Boost to Security (Oct. 20, 2015)
MasterCard is bolstering security on several fronts, launching tokenization for MasterPass and a new tool to help banks and processors reduce the threat of cyberattacks.
Payments
UniRush LLC Offers 4-Month Fee Holiday in Wake of Glitch (Oct. 20, 2015)
UniRush LLC last week disclosed a major service interruption with its RushCard GPR product that resulted in many of its customers experiencing difficulty using their cards and accessing funds over several days, resulting in apologies from RushCard co-founder Russell Simmons and a four-month holiday from card fees that will run Nov. 1, 2015, through Feb. 29, 2016.
Oberthur Planning IPO in Paris (Oct. 20, 2015)
Paris-based global card manufacturer Oberthur Technologies is planning to go public in what its owner, private equity firm Advent International Corp., is saying will be the largest technology IPO in Europe this year, according to reports.
CurrentC Pilot Adds Walmart (Oct. 19, 2015)
Walmart this week joins major merchants participating in MCX’s CurrentC mobile payments test underway in Columbus, Ohio, with Exxon Mobil and Shell coming soon, the consortium confirms.
InComm, Scientific Games Partner to Offer Lottery Gift Cards (Oct. 19, 2015)
With the holiday season approaching, consumers will be able to purchase lottery gift cards to give as gifts or for self-use through a partnership with InComm and Scientific Games International. The Atlanta-based prepaid product and technology provider signed a five-year deal with Scientific Games to provide lottery gift cards in North America.
Looming Interchange Caps Could Mean Higher GPR Fees in U.K. (Oct. 19, 2015)
GPR card fees in the U.K. have been trending downward over the past few years, but forthcoming limits on interchange revenue could pressure issuers to reconsider their fee structures, according to Polymath Consulting’s David Parker.
Pay Magazine – Fall 2015
What Glass Ceiling? Women Driving Payments Change; P2P on the Verge; M-Wallet Challengers; Apple Pay Stats; Cards Still Present: Why Plastic Rules; 2015 Paybefore Awards Europe Winners
Will banks suffer casualties in the battle to own the customer experience?
Technology has infiltrated every facet of our lives, fundamentally changing our behaviour patterns and our expectations of what constitutes a good customer experience. The banking sector has not been immune to these changes; the industry has been forced to drastically transform its business processes and services in order to keep up with customers’ expectations. Today, customer satisfaction is judged not by the smile on the face of a cashier, but on the speed with which one can gain mobile access
First Data Sets Record for the Year’s Largest U.S. IPO (Oct. 15, 2015)
Atlanta-based payments processing and technology provider First Data sets U.S. IPO record raising $2.5 billion, pricing its IPO of 160 million shares of Class A common stock at $16 per share.
What’s in Your Mobile Wallet? Capital One Launches M-Payments Solution (Oct. 14, 2015)
With today’s launch of its Capital One Wallet, Capital One is the first U.S. bank to enter the mobile wallet race. But with 22 million active mobile customers, Chase may not be far behind.
Blackhawk Partners with Stockpile for U.S. Stock Investment Gift Cards (Oct. 14, 2015)
Blackhawk Network Inc. today announced a key partnership with the 5-year-old Palo Alto, Calif. based startup Stockpile Inc., to distribute a line of gift cards representing U.S. stock market shares that can turn recipients into equity investors for as little as $50.
Henry Heads Investment in M-POS Provider CardFlight (Oct. 14, 2015)
Dan Henry has been mostly quiet since leaving his role as CEO of NetSpend last year, but the payments pioneer has now dipped a toe back into the industry, investing in m-POS provider CardFlight.
SIBOS INTERVIEW: Paul Francis Walvik-Joynt, Engagement Director, NETS Group
SIBOS INTERVIEW: Paul Francis Walvik-Joynt, Engagement Director, NETS Group
Second Circuit Holds Credit Card Surcharge Doesn’t Violate U.S. Constitution
Court considers whether it’s permissible for a discount for using cash or a surcharge for using credit cards.
SoulCycle Pushes Back Against Alleged Gift Card Violations
A high-end fitness company selling tickets to reserve a spot in a specific class at a designated date and time comes under scrutiny for violating the CARD Act.
SCOTUS Denies Cert in Borders Gift Cardholder Suit
Borders gift cardholders do not get to claim $210 million in unredeemed gift card funds.
Retailers Continue to Challenge Interchange Fee Settlement
Target Corp., Amazon.com and a host of other retailers continue to challenge MasterCard, Visa and several large banks over the terms of a $7.25 billion settlement reached in 2013. The settlement was supposed to end the retailers’ claims that the banks and MasterCard and Visa artificially inflated interchange fees. Several of the largest retailers, however, […]
Viewpoint: Contrasting Payments Innovation in Europe and the U.S.
America has led Europe in payments innovation. Europe has led in payments regulation. The recent rubberstamping of PSD2 in Brussels suggests that’s likely to continue.
Meeting the need for speed
Real-time payments systems and infrastructures are being rolled out globally. What impact will they have on financial institutions? How fast is too fast? Daily News at Sibos asked delegates where the trend is heading …
Company on the Move: Global Transaction Banking Solution, formerly Fundtech
DH Corp., a provider of technology solutions to financial institutions globally, announced that it has rebranded Fundtech as its new Global Transaction Banking Solution (GTBS) business.
Company on the Move: Ingenico Group, Smart Card Alliance Recognition
Ingenico Group, a global payment solutions provider, has received the Smart Card Alliance “Center of Excellence” designation for 2015—its second year in a row.
CPI Card Group and Worldpay Go Public (Oct. 13, 2015)
CPI Card Group rang the bell to open Friday trading, signifying the Littleton, Colo.-based card producer’s initial public offering. The company is trading its common stock on the Nasdaq Global Select Market (ticker symbol: PMTS) and the Toronto Stock Exchange. “This is an exciting time for us, our shareholders, our customers and our employees, as […]
IDology Inc. Forges Strategic Partnership with Payfone to Increase Mobile Commerce Security (Oct. 13, 2015)
Atlanta-based IDology Inc., is augmenting its ammo to battle against fraudsters in the mobile payments and e-commerce channels with a strategic investment in Payfone Inc., combining IDology’s online identity verification and fraud prevention services with Payfone’s mobile security services with a new service, ExpectID Mobile, to verify customers’ identities in the mobile space.
Millennials Stressed, but Confident about Money (Oct. 13, 2015)
Money is a significant source of stress among millennials, with financial concerns affecting their emotional and physical well-being, personal relationships and work performance, a new report says.
The instant catalyst
Immediate payments are acting as a catalyst for banks to add value and develop holistic payment solutions. In this extract from World Payments Report 2015, the impact of immediate payments on banks’ offerings is examined
Keeping it real
Global interoperability of real-time payments systems will require harmonisation of market practices and standards.
FIS Sibos15 Supplement: OPEN MIND
Click to launch the full edition in a new window Publishing Software from YUDU
Half of UK online transactions now made on a mobile device
Mobile transactions continue to increase their share of the market, accounting for up to half of online transactions, according to a new report by global payments technology company Adyen.
MasterCard Exec Sees ‘Network of Wallets’ as M-Payment Options Expand (Oct. 8, 2015)
The recent surge of mobile payments services including Apple Pay, Android Pay and Samsung Pay is impressive, but what’s more significant is that payments-enabled mobile devices are on track to expand tenfold over the next five years, creating major challenges and opportunities for developers of consumer digital wallets, said Matt Barr, MasterCard’s group head, North America, emerging payments, speaking at this week’s NFC Solutions Summit in Phoenix.
Samsung’s LoopPay Breached; Verizon Supports Samsung Pay (Oct. 8, 2015)
There’s never a good time for a data breach, but yesterday it was reported that LoopPay, a subsidiary of Samsung Electronics Co., suffered an attack on its network.
European Parliament Passes PSD2 by Landslide (Oct. 8, 2015)
The yeas have it. The European Parliament today has passed the second major payments regulation in 2015, with 578 votes in favor of the Revised Payment Services Directive (PSD2).
Green Dot Teams Up with Celebrity Steve Harvey (Oct. 8, 2015)
Steve Harvey will be promoting all products issued by Green Dot Bank as part of a multiyear marketing partnership, Green Dot announced today.
Defendants Appeal Judge’s Refusal to Dismiss McDonald’s Class-Action Suit in PA (Oct. 8, 2015)
Two McDonald’s franchise owners have appealed a judge’s refusal to dismiss a class-action lawsuit alleging they illegally mandated employees be paid via prepaid cards.
PMPG endorses Swift messages for intraday liquidity reporting
The Payments Market Practice Group has endorsed the use of Swift messages for intraday liquidity reporting. The Swift message set for intraday liquidity reporting underpins a rulebook created by the Liquidity Implementation Task Force, an industry group of twenty five large clearing banks, custodian banks and global brokers, to support compliance with Basel Committee on Banking Supervision requirements.
Visa Exec: Convergence of Payments with Commerce Is Industry’s Next Challenge
The convergence of mobile payments and commerce will be the payoff for merchants investing in m-payments technology, but the payments industry has a lot of work ahead to help marry payments with the shopping experience to enrich consumers’ experiences, Phil Kumnick, senior vice president of global acquirer processing for Visa Inc., told attendees today at the NFC Solutions Summit in Phoenix.
CFPB Draws Line in Sand Regarding Arbitration Clauses (Oct. 7, 2015)
Prior to today’s field hearing in Denver, the CFPB has announced it’s considering proposing rules that would restrict consumer financial companies from using certain types of arbitration clauses that block consumers from forming class action lawsuits to obtain compensation.
