Prepaid


Bento for Business Names Jeff Pomeroy VP of Product

Blackhawk Network veteran Jeff Pomeroy has joined the Pay Award-winning Bento for Business, a provider of employee expense management solutions for small businesses, as vice president of product.

Executive profile: Solana Cozzo, Mastercard

It’s a good thing Solana (“Sol”) Cozzo is high energy. When she’s not literally running or chasing after 3-year-old twins, she’s running Mastercard’s North American prepaid and inclusive growth business. It’s hard work when you consider that “the cardable opportunity is about seven times the current market,” she says.

Raise Pulls in $60 Million in Funding, PayPal Joins Party

Raise, which bills itself as the world’s largest gift card marketplace, has raised $60 million in a Series C funding round led by Accel, with participation from PayPal and existing investors New Enterprise Associates and Bessemer Venture Partners.

Mercator: Consumer Prepaid Sales Drop in U.S.

U.S. consumers aren’t buying as many prepaid cards, according to a new consumer survey from Mercator Advisory Group. The data show 56 percent of U.S. adults bought prepaid cards in the year preceding the June survey, down from 63 percent in 2016.

PIF Welcomes GPS

The Prepaid International Forum has added another member to its roster. Global Processing Services, whose managing director Suresh Vaghjiani is an Industry Achievement Award recipient in the 2017 Pay Awards, has joined the nonprofit trade group.

paysafecard Enters UAE to Enable Online Payments with Cash

Prepaid pioneer paysafecard, part of Paysafe Group plc, announced its entrance into the United Arab Emirates. With its flagship prepaid solution, paysafecard will enable consumers to pay cash at vending machines and in retail stores for a prepaid PIN they can use to shop online.

M&A Update: IDT’s New Owner; ScanSource Buys POS Portal 

Two recent deals further demonstrate the fertile M&A field in the payments space worldwide. London-based JAR Capital Limited has announced plans to acquire Gibraltar-based e-money issuer IDT Financial Services. Meanwhile, technology provider ScanSource Inc. has agreed to buy POS Portal, a Sacramento-based payment terminal and P2PE encryption technology provider that focuses largely on the SMB market.

Are Plastic Cards Headed for Extinction?

Probably not. Even so, the case for virtual prepaid accounts is growing stronger. A journey through the landscape—including a stop at a recent Apple conference—shows why.

2017 Pay Awards Results Are In

Today, June 14, Paybefore reveals the Best-in-Category winners in 21 categories and the two recipients of its highest individual recognition, Industry Achievement, for the 2017 Pay Awards.

Q&A with Andrew Buckley, Mastercard

When the self-described skeptic took over as global head of prepaid for Mastercard earlier this year, Andrew Buckley wasn’t quite convinced that the opportunities ahead were worthy of all the hype. Five months later and he’s among the converted, preaching the gospel of democratization—not just of payments but of innovation.

BitPay’s Visa-Branded Prepaid Card for Bitcoin Reaches Global Scale

BitPay, a 2017 Pay Award winner, said this week that it has released its BitPay Visa Prepaid Debit Card in 131 countries. The card “makes it possible for users to convert bitcoin into a spendable dollar, euro or pound balance” on the card in a matter of minutes, the company said.

U.S.-Based Ebix Buys Majority Stake in India’s ItzCash

Indian payment solutions provider and Pay Award-winning ItzCash Card Ltd. has a new main backer. U.S.-based Ebix, which sells on-demand software and e-commerce services, has taken an 80 percent stake in the company for $120 million.