U.K.-based Monitise and technology and consulting giant IBM have announced an alliance they say will improve IBM’s ability to deliver existing and future Monitise-based Mobile Money solutions to clients. The deal also will significantly increase Monitise’s ability to handle larger custom projects worldwide by combining the companies’ mobile banking, payments and e-commerce technology.
With the US consultation on introducing real-time payments announced earlier this year, debate on the subject ramped up considerably – but much of the debate is based on myths and misunderstandings, which means people are in danger of coming to the wrong conclusion, according to a report from Celent’s Gareth Lodge.
As delegates finalise their plans to attend Sibos in Boston this month, Chris Church, chief executive Americas and global head of securities at Swift, discusses what they can expect
Meta Payment Systems, a division of MetaBank, has entered into a multi-year agreement with UniRush LLC, to issue the RushCard Visa-branded GPR card.
Ready for the battle of the bank-branded digital wallets? New York-based Citi this week introduced Citi Wallet, to streamline online shopping for credit card customers.
More than 85 percent of approved checks sent over the Ingo Money platform, accounting for more than 90 percent of the platform’s total check value, now are funded to customer accounts and available to spend within minutes, according to Ingo Inc., the Georgia-based electronic funding specialist that operates Ingo Money.
Australian banks, retailers and other payments stakeholders have formed the Australian Payments Council to ensure the country’s payments system meets the needs of consumers and businesses by fostering development of innovative, secure and competitive payment services, according to an announcement.
Western Union has expanded its account-to-account money transfer service to cover Austria, Belgium, Germany, the Netherlands and the United Kingdom.
As payment card data security breaches become more common, financial institutions must step up to protect customer data, a new report says.
The CFPB has finalized its remittance transfer rule requiring remittance transfer providers to disclose certain third-party fees and any exchange rates applicable to the transfer.
India’s central bank now requires all card-not-present transactions for purchases within the country to be routed through a bank in India, with funds settled only in Indian currency.
Littleton, Colo.-based card producer CPI Card Group is acquiring EFT Source, a provider of card programs and personalization services for the financial payments industry.
Europe now represents 10% of total Renminbi payments in value worldwide and is leading adoption beyond Asian countries, with four European countries in the top 10, excluding China and Hong Kong, according to Swift. Overall, the RMB strengthened its position as the seventh most used global payments currency and accounted for 1.57% of global payments.
The merchant groups embroiled in a long-running legal battle over debit interchange fees have petitioned the U.S. Supreme Court to review the case on the grounds that the Federal Reserve improperly took into account certain costs incurred by card issuers when calculating debit interchange fee limits. However, the retailers have not challenged a separate rule governing the number of unaffiliated debit card networks that must be available for debit and prepaid card transactions, which is good news for card issuers because it gives much longed-for certainty around a challenging issue.
The Consumer Bankers Association is taking umbrage over what it says are vague allegations by the CFPB’s private education loan ombudsman regarding agreements colleges and universities have with financial institutions to provide financial products to students.
In the wake of a flood of interest in a regulatory framework for digital currency companies proposed by New York State’s Department of Financial Services, the DFS has doubled the length of the comment period to 90 days.
Domestic card schemes have traditionally partnered with MasterCard and/or Visa in an arrangement that leaves the domestic player handling the local transactions and their international partner facilitating and controlling the international business. Should banks work with both or just partner with one of the international schemes?
The available technologies that will make payments simpler, cheaper and seamless, and will therefore drive mobile payments, aren’t going away.
Digital gift cards bring depth, not disruption, to gift card product lines.
For banks and their third-party vendors, it’s crucial to have a solid contract. Or, at least it’s crucial if they want to avoid the ire of regulators and fines that could reach into the billions.
Gift card exchanges play a key role in connecting motivated shoppers with retailers and driving incremental sales, according to survey data from Blackhawk Network. Consumers say they’d like to see more retail locations add gift card exchanges.
Fraudsters are ingenious at finding cracks in the bulwark against prepaid card fraud, but industry cooperation can blunt their effect with strategic practices that are surprisingly easy to implement.
From Senegal to the Seychelles, and Botswana to Uganda, new demands and new opportunities are emerging in Africa, but there are still challenges
PayPal and Braintree, which is part of PayPal’s business unit, are rolling out the One Touch mobile payment solution, which will enable consumers to make purchases on their mobile devices from PayPal merchants with one touch of the screen, rather than entering user IDs, passwords and payment card information.
A group of merchant associations this week petitioned the U.S. Supreme Court to review a March decision by the U.S. Court of Appeals for the District of Columbia.
Users of Kenya’s popular M-Pesa P2P payments platform can send funds at lower costs now that telecom provider Safaricom has slashed transaction fees for most transfers by more than two-thirds.
CARD.com, a mobile-focused financial product provider, has hired Jon Round as chief operating officer and Terry Murray as head of prepaid operations.
Fiserv Inc., a Brookfield, Wis.-based financial services technology provider, has named Jamie Topolski director of alternative payment strategies, output solutions.
The Gift Card Network, a gift card-specific marketing and collaboration platform, has named Martha Weaver director.
The Payments Council, a U.K.-based payments industry association has appointed Maurice Cleaves interim CEO, effective Nov. 3, 2014.
Payveris, an online and mobile payments company, has announced plans to create a merchant solutions division, which will be led by payments industry veteran Marcell L. King as president, merchant solutions.
Beijing-based e-commerce platform DHgate is integrating MasterCard’s MasterPass online payment service to simplify online purchasing for customers.
Global Payout Inc., an electronic payment and prepaid solutions provider, today announced plans to acquire Maxie Mobile LLC, a global mobile payments provider focused on the underserved.
European mPOS provider SumUp has landed a new investment of more than $10 million to expand operations, including propelling adoption of its recently launched chip and PIN card reader.
Details of Apple Inc.’s mobile wallet plans continue to trickle out, with the latest clue found in a patent filing that illustrates a QR code. Published late last month, the application describes a parental control system that would enable parents to control payment authorization on their children’s mobile devices.
The Payment Card Industry Security Standards Council has issued new guidance to help merchants ensure that third-party providers have implemented sufficient security measures to protect shoppers’ payment card data.
Spanish-language media company Univision has chosen payment technology supplier FIS to provide end-to-end prepaid services for the Paybefore Award-winning Univision MasterCard Prepaid Card.
Heartland Payment Systems has acquired Leaf, creator of an mPOS tablet, a deal the payments processor said demonstrates its commitment to providing resources and support for small- to medium-sized businesses.
Spanish bank BBVA has named the 20 finalists for the European leg of its financial services startup challenge, BBVA Open Talent, which will feed into the Next Bank Europe conference in Barcelona next month.
Corporate payments provider Comdata Inc. has been acquired for $3.45 billion by FleetCor Technologies Inc., a global provider of fuel cards and other workforce payments.
