People on the Move: Joshua Goines and Thien Truong, Green Dot Corp.
Green Dot Corp. has named Joshua Goines general manager of GoBank. The company also hired Thien Truong as senior vice president of business development and sales.
Green Dot Corp. has named Joshua Goines general manager of GoBank. The company also hired Thien Truong as senior vice president of business development and sales.
Mercator Advisory Group has announced the addition of Nikhil Joseph and Jennifer Marble to its team of analysts, and Marcellena Wood as project manager of Consulting Services.
Meta Financial Group Inc., holding company of MetaBank, has been included in the annual “Top 200 Community Banks and Thrifts” list in American Banker Magazine.
Robert Courtneidge, global head of cards and payments at law firm Locke Lord, has been named the world’s sixth leading authority on global payments, as part of the Payment Power 10, an international group of key leaders in the payments industry.
The annual transaction value of online, mobile and contactless payments will nearly double over the next four years, reaching $4.7 trillion by 2019, up from just over $2.5 trillion this year, with contactless payments primarily driven by card purchases rather than mobile.
Host card emulation (HCE) technology has gained an unlikely supporter. SIMalliance, which had been critical of HCE’s role in bringing NFC-based mobile payments into the mainstream, said today that HCE likely will expedite SIM-based NFC payment deployments.
MasterCard is continuing to expand the reach of its rePower reload network, partnering with DCR Strategies Inc./TruCash to enable reloads in Canada.
NJ S 2235 was introduced in the State Senate, offering hope that New Jersey’s attempt to grab unclaimed funds that otherwise may be owed to another state finally might be put to rest.
Mass transit continues to be among the most promising areas for NFC payments, with Washington, D.C., reportedly planning to put the technology in motion next year.
Earlier this month American Express announced several new budgeting capabilities it’s adding to Serve, along with expanded retail distribution in Safeway and other retailers through a new partnership with Blackhawk Network.
Cardtronics plans to add a new deposit function to more than 2,500 ATMs in the company’s Allpoint Network.
CFPB Director Richard Cordray headed to the House yesterday to present his bureau’s semi-annual report to the House Financial Services Committee, headed by Jeb Hensarling (R-Texas).
The FDIC has issued another consent order for a company with significant prepaid business and again the focus is on Bank Secrecy Act (BSA) compliance.
The prepaid card continues to be the fastest-growing form of electronic payment, but to maintain that position in a world where emerging payments are gaining ground every day, the industry must keep innovating.
Payments M&A activity continues as corporate payments provider WEX Inc. announced a major move into the health care payments sector, entering a definitive agreement to acquire Evolution1 for $532.5 million.
After splashy debuts two years ago, two celebrity-backed prepaid cards quietly are exiting the market this summer.
The Consumer Financial Protection Bureau is turning its attention to mobile financial services and is seeking information from the industry and consumers.
New York State lawmakers, along with Attorney General Eric Schneiderman, came out with guns blazing last week—their target: payroll cards.
Congressman Steve Stivers (R-Ohio) stressed the importance of the prepaid card industry continuing its work of getting to know federal rulemakers and explaining to them the value the industry’s products provide to consumers, businesses and state and local governments.
More mobile wallet providers are pinning their hopes on host card emulation technology to facilitate NFC payments.
Chinese e-commerce giant Alibaba’s new U.S. retail portal eventually could present a challenge for some of the biggest names in the online shopping sector, including Amazon and eBay.
The Bancorp Bank, a wholly owned subsidiary of The Bancorp Inc., this week revealed in an 8K filing with the SEC that it’s stepping up its Bank Secrecy Act (BSA) compliance efforts in accordance with an FDIC consent order that went into effect June 5.
The Euro Banking Association has published results of research and assessment work on supply chain finance topics and alternative electronic payments, including recommendations on managing financial industry collaboration and partnerships.
Rather than spending time debating which option is worse for consumers—overdraft or payday loans—or focusing solely on reining in overdraft, we ought to shift our energies to creating new credit products that meet consumers’ needs transparently and affordably.
While asking a customer for multiple pieces of information and presenting him with various questions satisfies federal guidelines and other legal compliance, it can throw a major wrench in the prepaid card activation model. Out-of-wallet authentication must be accomplished in real time—and that means mobile.
The Consumer Financial Protection Bureau (CFPB) has bumped plans to release its proposed rule on prepaid cards to “the end of the summer,” according to Richard Cordray, the agency’s director.
As U.K. retailers move further into providing personal banking services, supermarket giant Tesco has launched its first-ever current account.
Less than a year after Amazon launched a one-click checkout feature for outside Web merchants, the online retail giant has unveiled a similar service for recurring and subscription-based payments.
Uber, the global service that connects drivers with riders, has integrated American Express’ membership reward points into its iOS app, giving consumers another way to use their mobile devices to pay with American Express.
The increasing risk of fraud, the rise of NFC, customer convenience and lower technology costs have combined to make the business case for EMV work for U.S. payment card issuers, according to a new report from Aite Group.
On the heels of its March acquisition of the moneto mobile payment platform from DeviceFidelity Inc., Minneapolis-based remote deposit capture specialist Cachet Financial Solutions announced it will be developing a prepaid mobile app for cardholders of FirstView, an Atlanta-based program manager and processor.
Banks are paying lip-service to the concept of customer service and are years behind on innovation – and unless they literally get their act together by collaboratively embracing open software libraries and sharing applications and data, they will not survive.
The rise of Bitcoin and other digital currencies could present new opportunities for serving the underbanked once acceptance becomes more widespread, and payment providers and investors are building an infrastructure to support such uses.
Despite some skepticism around the business case for prepaid issuers, in particular, to migrate to EMV in the U.S., another card targeting international travelers has made its debut.
Bitcoin recently took one step forward and one step back as one provider launched its first Bitcoin ATM in China, while another Bitcoin operator has been denied doing the same more than 4,700 miles away in Switzerland.
The Federal Reserve Bank of Philadelphia has promoted Michael Dotsey to senior vice president and director of research.
Ingo Money, an Atlanta-based technology and solutions provider, hired Dickson Chu as executive vice president, corporate development and chief product officer.
Mercator Advisory Group has appointed Tim Sloane vice president of payments innovation, and promoted Ben Jackson, formerly senior analyst, to director of the Prepaid Advisory Service.
Monitise plc has announced a series of updates to its executive leadership team and board of directors, including the appointment of Elizabeth Buse to co-CEO of Monitise Group.
In addition to being the 2014 Paybefore Awards Europe winner in the Consumer Champion category, paysafecard.com Wertkarten AG, which is part of the Skrill Group, also has been included in The New Economy’s list of top 40 most innovative companies in the world.