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.
Transit systems throughout the world continue to adopt electronic payment systems—the latest among them Toronto and Indonesian province Jakarta.
The mega-chain goes mobile with many partners and a mobile app of its own with two key ingredients—convenience and loyalty.
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.
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.
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.
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 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 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.
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.
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.
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.
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.
Paybefore Award-winning Rȇv Worldwide is continuing its focus on multicurrency travel cards with its latest launch in India.
If Maxwell the talking pig can show a police officer his proof of Geico insurance on a smartphone, why not a driver’s license?
The US is finally adopting EMV after an eventful 12 months in which barriers have been overcome. Merchant reluctance is diminishing, good progress is being made, and the ‘EMV train’ is now picking up speed, according to a new report by analyst firm Celent.
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.
The financially underserved market in the U.S. generated approximately $103 billion in fee and interest revenue in 2013, based on consumer usage volume of $1.3 trillion in financial products and services, according to a new study from the Center for Financial Services Innovation (CFSI) and Core Innovation Capital.
After a strong showing in consumer bitcoin spending on Black Friday weekend, Blade Financial yesterday launched what it’s calling the first B2B payment processing platform that extends traditional debit card programs to bitcoin businesses.
Blackhawk Network this week announced a new distribution deal with the U.S. Postal Service, introducing the company’s gift card malls to select post offices in time for the holiday season.
NACHA, the Herndon, Va.-based electronic payments association, and the European Central Bank (ECB) independently are taking steps to speed up the payments process with the goal of same-day settlement.
During the feverish shopping on Black Friday and Cyber Monday, even bitcoin had its mad moment.
With gift cards expected to be a top seller this season, according to a survey by the National Retail Federation, Sprint, GiftCards.com and CashStar are making it even easier for consumer to do their holiday gift card shopping online and on their phones.
U.K.-based mobile money provider Monitise plc has signed a 7-year agreement with Virgin Money to develop digital banking products and services for Virgin Money customers.
Russia is scheduled to begin testing its new National Payment System (NPS) with eight banks next week, and the platform is scheduled to become fully operational in the first quarter of next year.
Since the beginning of the global economic crisis, the financial services industry has faced challenges like never before. Headlines around bankers’ bonuses, PPI miss-selling and Libor manipulation have led to a lack of trust from consumers. In response, traditional banks need to join the new generation of financial service providers and their customers in their new natural habitat – online and on mobile.
Faster Payments, the UK payment clearing system, is planning to expand access to more payment service providers in the coming year. The organisation has set out its plans in a new Whitepaper, which explores possible cooperation with the Bank of England to develop new settlement models for non-bank payment service providers.
The FFIEC’s recently updated BSA/AML Examination Manual is emphasizing—as it has in the past—that the buck stops with issuing banks in terms of ultimate responsibility for BSA/AML compliance for prepaid access products, regardless of agreements or contracts with other players in the value chain.
Millions of dollars keep flowing into the payments industry as investors recently showed support for advanced payments cards from Dynamics Inc., Stripe’s e-commerce solutions and a digital-only Atom Bank.
The Reserve Bank of India has issued guidelines for licensing small finance banks in the private sector to, among other objectives, better meet the needs of unbanked and underbanked populations and to provide credit to small businesses, farmers and small industries.
Department store Kohl’s Corp. expects to enjoy the fruits of combining a mobile payments app with loyalty this holiday season.
The replacement of business processes based on paper documents with the exchange of information in electronic form is a highly beneficial global trend, and the competitiveness of Europe’s economic activity will benefit from this migration.
Holiday shoppers with PayPal accounts took to their mobile devices in droves last week, with PayPal Inc. reporting a 56 percent surge in mobile sales volume over its platform on Thanksgiving Day compared to last year and a 62 percent jump on Black Friday.
Europe’s biggest payments company is coming to the U.S. Stockholm-based e-payments provider Klarna has announced it will earmark at least $100 million for a U.S. expansion, including a new operations center in Columbus, Ohio.
SpendSmart Networks is pulling the plug on its prepaid card business, citing poor performance amid increasing regulatory pressure and associated costs.
PULSE Network LLC, a Discover Financial Services company, filed a lawsuit against Visa Inc. late last month alleging antitrust law violations it says undercut PIN debit competition. Meanwhile, Target’s motion to dismiss a lawsuit related to its 2013 data breach was denied.
China UnionPay continues to take steps to make it easier for its customers to make payments on their mobile devices.
U.K.-based mobile money provider Monitise plc is getting a major capital infusion, landing a £49.2 million (US$77 million) investment from the trio of MasterCard, Santander Group and Telefónica.
Debate on the EU Payments Package, composed of the revised Payment Services Directive and the Regulation on Interchange Fees, recommenced in Brussels on Nov. 19. Although the two pieces of legislation are part of one “package,” they’re at different stages in the legislative process, and depending on how they progress, the transition into law could be smooth for the industry—or not.
The hotly-contested contract to provide a real-time payments system in Australia has been won by Swift, which has announced plans to develop real-time retail domestic payment solutions and compete to deploy them internationally.
While online retailers roll their Black Friday bargains over to Cyber Monday, research shows that an increasing amount of online sales are being made via smartphones and tablets, and this trend is continuing – but this does not mean smaller crowds, as consumers are also switching to ‘click & collect’ services.