PayPal Offers Cash Advances to SMBs in U.K. (July 28, 2014)
PayPal is launching its Working Capital program in the U.K. this fall for select small to midsize business customers, offering cash advances against their future sales.
PayTech
US mobile payment firm LoopPay wins Visa funding
Mobile payments provider LoopPay has secured funding from global payments firm Visa as it pioneers a technology that capitalises on the installed base of magnetic stripe-reader point-of-sale systems rather than NFC, which is the current favourite in mobile payment circles.
London Underground goes contactless as EE unveils NFC plans
London Underground, DLR and Overground trains are to accept contactless payments, following an announcement from Transport for London. The decision comes as mobile operator EE sets out plans to support NFC payments on London Underground, the UK’s biggest building society begins issuing contactless cards to its customers, and Apple explores cooperation with Visa on a potential new mobile wallet.
SIA and Swish launch m-commerce push
Italian financial infrastructure company SIA has inked a deal with mobile commerce provider Swish Payments to support mobile payments in Africa and Europe. The two firms claim the deal will help to bring more efficient forms of payment to both regions.
Standard Chartered launches Philippine mobile wallet
Standard Chartered has launched a mobile wallet in the Philippines through a partnership with Globe Telecom, in a deal that will tap into demand for mobile money in one of the world’s strongest remittances markets.
Viewpoint: N.Y.’s Proposed Virtual Currency Licensing Regulations: The Right Direction but Still a Bumpy Road
Leading payments lawyer Judie Rinearson calls N.Y.’s proposed “BitLicense” rules comprehensive, but are they so comprehensive they’ll chill virtual currency businesses in the state? Give us your opinion in Pay Poll.
Blog: Convergence is the Real Non-Payment Payment Story
Analyst Rick Oglesby posits that what’s happening outside of payments will actually have a bigger impact than what’s happening inside payments. Crazy or on point? Read and decide.
Why we should put a mobile wallet in every pocket
The mobile wallet is having a transformative effect on people’s lives in developing countries, bringing safer, faster, easier financial services to the people who need it most
New Exec Director for NBPCA (July 23, 2014)
The Network Branded Prepaid Card Association announced today that Doug Bower will join the association as executive director and president, effective August 5, 2014.
Four Years Later: Dodd-Frank Still Divides the House; Effects Being Felt by Prepaid (July 23, 2014)
The Dodd-Frank Wall Street Reform and Consumer Protection Act, the legislation born from the economic crisis a half-decade ago, turned 4 years old this week. The shockwaves from the law, which has significant impact on the prepaid industry, likely will be felt for years to come.
Raphaels, Post Office Team on U.K. Prepaid Card (July 23, 2014)
Raphaels Bank and the U.K. Post Office have joined to launch a new prepaid MasterCard.
People on the Move: Matt Banham, Omlis
U.K.-based mobile payment solution provider Omlis has appointed Matt Banham chief technology officer.
Companies on the Move: Paul Hastings LLP, The American Lawyer’s A-List
The American Lawyer has ranked Paul Hastings LLP atop its 2014 A-List of most successful U.S. law firms.
People on the Move: Ram Chari, ElectraCard Services
MasterCard has appointed Ram Chari CEO of ElectraCard Services, which it acquired earlier this year.
People on the Move: William Healy, Net Element Inc. Board of Directors
Net Element Inc., a mobile payments and transactional services provider, has appointed William Healy to the company’s board of directors, where he will serve on the board’s audit, compensation, nominating and corporate governance committees.
People on the Move: Matt Odirakallumkal, SecureNet
Austin, Texas-based payments processor SecureNet has named Matt Odirakallumkal senior vice president of risk management.
People on the Move: Alencar Nunes da Silva Jr. and Michele Scarlatella, SIMalliance Board of Directors
SIMalliance, a London-based nonprofit trade association supporting the creation, deployment and management of secure mobile services and applications, has announced its board of directors for 2014-15.
People on the Move: David Sear, Skrill Group
Skrill Group, provider of online payment technologies to merchants and consumers, has appointed David Sear group chief commercial officer.
New Gift, Loyalty App Latest Sign of Amazon’s Offline Ambitions (July 22, 2014)
Amazon has launched a new mobile wallet app for managing and redeeming gift and loyalty cards.
N.Y. Proposes Rules for Digital Currency Businesses (July 22, 2014)
New York State’s Department of Financial Services is seeking public comment on a recently proposed “BitLicense” regulatory framework for digital currency businesses in the state.
RBI Accepting Comments on Bank Licensing Guidelines (July 22, 2014)
The Reserve Bank of India recently issued draft guidelines for companies seeking bank licenses in two niche banking categories: payments banks and small banks.
Snapchat Eyeing Payments, Patent Filings Indicate (July 22, 2014)
Mobile photo sharing and messaging app Snapchat might be seeking to move into payments.
Google Wallet Adds Gift Card Management, Free Debit Card P2P (July 21, 2014)
As Google Wallet continues to experiment, the latest evolution adds a new gift card management function and removes fees on debit card-based P2P money transfers made via the wallet.
ACI Worldwide to Acquire ReD for $205 million (July 21, 2014)
Payment systems provider ACI Worldwide announced today it will acquire U.K.-based fraud prevention solutions provider Retail Decisions (ReD) in an all-cash purchase of $205 million.
Social Media, Shopping Convergence Continues with Twitter, Facebook Moves (July 21, 2014)
The boundary between social media and commerce continues to blur, with a pair of announcements from two major tech companies accelerating the convergence of shopping and socializing online.
Green Dot MoneyPak PIN Product Out of Market by Q1 2015 (July 17, 2014)
Green Dot Corp., a Pasadena, Calif.-based provider of prepaid debit card products and reloading services, is discontinuing the MoneyPak PIN method of reloading cards, moving fully to the card swipe reload process, according to a written statement provided yesterday at a hearing of the Senate Special Committee on Aging.
CFPB Proposal: Include Consumer Narrative in Complaint Database (July 17, 2014)
The CFPB wants to expand its Consumer Complaint Database to enable consumers to provide a narrative with their complaints about financial services.
Visa Launches 1-Click Shopping Service for e-Commerce (July 17, 2014)
The battle for space at the online checkout counter continues as Visa Inc. unveils a new service to enable e-merchants to add a one-click purchase button to shopping Websites and apps.
Merchants Get another Extension in Debit Interchange Case (July 17, 2014)
The merchant plaintiffs in a lawsuit against the Federal Reserve Board of Governors have been granted another extension to petition the U.S. Supreme Court to hear the case.
HCE and NFC: threat or opportunity?
Mobile NFC services continued to expand in 2013 but the big question is, will this be amplified or disrupted by the introduction of host-based card emulation (HCE) into mainstream operating systems?
Dan Henry Leaving NetSpend; Chuck Harris Assumes the Reins (July 15, 2014)
Chuck Harris has been named senior executive vice president of TSYS, and he will take over the reins of TSYS-owned GPR and payroll card provider NetSpend, effective July 31, as CEO Dan Henry is leaving the company after serving in the executive role since 2008.
New Braintree SDK Features PayPal Integration (July 15, 2014)
eBay Inc.’s Braintree payments unit has unveiled a new software development kit (SDK), marking Braintree’s first major upgrade since being acquired by eBay in an $800 million deal last year.
China Post to Launch Mobile Payment Services (July 15, 2014)
Chinese postal network China Post will make a major investment toward building a mobile and online payment service.
SpendTrend: Consumer Spending Still Rising; Strong Prepaid Growth (July 15, 2014)
Consumer spending eased off a bit in June, but remained on an overall path of growth, according to data from First Data Corp.’s latest SpendTrend report.
SIA sees 270% processing improvement with Red Hat roll-out
Milan-based payment processing specialist SIA says that a migration of its systems to the Red Hat Linux environment has led to a 270% reduction in processing times.
Offers, P2P Could Be Keys to Driving Mobile Wallet Use (July 14, 2014)
Forty percent of mobile wallet users are using mobile as their primary form of payment—and mobile-specific offers and rewards could be the key to converting the remainder, a new report suggests.
Canadian Gov’t Gauges Interest in Prepaid for Federal Benefits (July 14, 2014)
With the Canadian government planning to phase out paper checks by 2016 for federal benefits recipients, half of Canadians who are unwilling to use direct deposit would be willing to try receiving their benefits on a reloadable prepaid card, according to a public opinion report released earlier this year and commissioned by the Public Works and Government Services Canada (PWGSC).
cadooz Signs 25-Country Deal with Spotify (July 14, 2014)
cadooz GmbH, a provider of vouchers, rewards and incentives, announced a deal to distribute gift cards and voucher codes for Spotify, the digital music streaming service, to business customers in 25 European countries.
iZettle, Cover Land Fundings (July 14, 2014)
Swedish mPOS provider iZettle has added €5 million (US$6.8 million) to its coffers, after the latest investment in the company’s Series C round of funding.
Viewpoint: Is BLE the Next Important Innovation in Mobile Technology?
BLE is getting a lot of buzz because of its potential to complement other technologies like NFC for marketing and consumer engagement, but certain questions remain about its purpose and future.
