New financial management tools for American Express Serve and Bluebird GPR prepaid cards announced today likely will strike a chord with cardholders—many of which already are displaying positive financial behavior, according to the payments network.
With the Center for Financial Services Innovation ringing in its 10th anniversary this year, CFSI President and CEO Jennifer Tescher took a short walk down memory lane—but kept a sharp focus on the road ahead—in her keynote address yesterday at EMERGE: The Forum on Consumer Financial Services Innovation.
A rare chance to trim back certain redundant financial regulations that seem to spread like ivy has arrived.
Reporting on the management of intraday liquidity risk will start on a monthly basis from 1 January 2015 to coincide with the implementation of the liquidity coverage ratio reporting requirements. Christian Goerlach of Deutsche Bank, takes a closer look at some of the issues facing global banks.
An question that continues to be asked is will the increased adoption of ISO 20022 facilitate the consolidation of payments clearing utilities and see the introduction of new services for customers? This suggests that despite the fact that ISO 20022 has been around for more than decade, confusion still exists over what it is.
Turkey’s largest investment bank Aktif has begun using international payment services from specialist Earthport, in a move the bank says will help its corporate and retail customers to get a better deal on their cross-border payments.
Standard Chartered Bank and Singaporean incumbent telecoms operator SingTel have launched a new mobile money service called Dash, in which customers can move money onto their mobile device and then use it to make payments without ever coming into a bank branch.
Visa isn’t waiting for regulators to help simplify prepaid products for consumers.
There may be one more round to go in the dispute between merchants and the Federal Reserve over interchange fees and debit routing requirements.
As speculation mounts around Apple’s plans for mobile payments and the tremors the company could create among mobile wallet providers, Apple might be prepping to launch its own digital currency.
More than six months into his new gig, CashStar’s CEO explains why the biggest potential for digital gift cards may lie in promotions, loyalty and customer service.
We have the opportunity to make a difference, to be part of the process and to influence the outcome of prepaid regulations.
Citi has chosen the ‘headliner’ finalists for its mobile innovation competition in Latin America, the Mobile Challenge LatAm 2014, which aims to bring together individuals and companies with innovative ideas to create applications for Citi’s Latin America mobile banking platform.
Payments startups looking to get off the ground in the U.K. soon could gain support from a somewhat unexpected source: regulators.
Building on its experiences from the rollout of the South African Social Security Agency initiative in 2012, which provides millions of South Africans a secure way to receive social grants, MasterCard has announced the launch of a similar program in Pakistan.
While recent reports are showing a decline in cash transactions, convenience store and gas station owners can increase customer loyalty, foot traffic and sales by installing an ATM, according to a survey of consumer habits in the U.K.
The spread of m-POS platforms has accelerated the decline of cash, according to a new report revealing that the volume of cash used in POS transactions in the U.S. dropped 10 percent between 2012 and 2013.
The speed at which the mobile market evolves is staggering. Just as we started to look at mobile first, where banks need to align their services and strategies to cater for mobile before desktop or other traditional channels, the notion of mobile-only is now creeping to the fore.
MasterCard is beefing up its cardholder security efforts, adding identity theft resolution assistance to all of its credit, debit, prepaid and small business cards issued in the U.S.
After revolutionizing payment card acceptance for small merchants, Square now is seeking to make waves in the cash advance arena.
Five months after UnionPay’s partnership with Rev Worldwide to expand its prepaid market opportunities globally, payment network UnionPay is spending a sizable chunk of change to promote card and mobile app usage for online purchases to cardholders within China.
As speculation grows that Apple will include NFC technology in its next-generation iPhone, another clue came to light last week, when the U.S. Patent & Trademark Office published a patent application filed by the company for an NFC antenna design
Mobile app providers might be overlooking a key demographic as they try to develop the right mix of form and function that will help their apps gain traction with a large population of consumers.
The Consumer Financial Protection Bureau could release its long-awaited rules for GPR prepaid cards next month.
U.K.-based Raphaels Bank has signed on to deliver what the bank is calling the first prepaid loyalty card program in the roadside recovery industry for the RAC, a British automobile association.
Prepaid cards could be a key entry point for financial inclusion—especially when combined with mobile phones, according to a new report from MasterCard that studied the underserved population in six countries within the Asia-Pacific, Middle East and Africa (APMEA) region.
Processors continue to get scooped up in acquisition deals this month.
The European mobile payments market continues to draw the interest of investors, with London-based mobile payment and loyalty app Yoyo landing $5 million in seed investment.
Bell ID, a global provider of smart chip management solutions, has appointed Michelle Lehouck EMV product director for its U.S. division.
Matthias Höllerl has been promoted to vice president of sales, mobile messaging, at DIMOCO, a European mobile payment and messaging provider.
Net Element Inc., a mobile payments and transactional services provider, has appointed Drew Freeman to the company’s board of directors.
Naveen Surya, managing director at ItzCash Card Ltd., is serving a two-year term as Payments Council of India chairman as well as chairman of the prepaid issuers working committee. Vishwas Patel, CEO at Avenues India Pvt Ltd., is serving two-year terms as PCI vice chairman and chairman of the merchant aggregator and acquirers committee.
SightSpan Inc. CEO and President John Walsh and John Walsh, former host of “America’s Most Wanted” recently met at a Charlotte Mecklenburg Police Foundation event in Charlotte, N.C.
The benefits of changing a payments portfolio over to a service provider with a modern and flexible platform are inherent and far outweigh the downside of staying with a provider whose solution is a poor fit.
A new mobile wallet platform from InComm is capitalizing on the company’s prepaid expertise to offer wallet providers a multitude of features, possibly giving InComm a competitive boost and signaling a shift in the prevailing business model. T
Despite skepticism that the path to widespread NFC-based mobile payments is in the SIM card, global shipments of NFC-enabled SIM cards more than doubled last year, and the SIMalliance expects such growth to continue.
Following sessions on Tuesday that featured a keynote presentation by Guido Mangiagalli, Visa Europe’s head of prepaid/core payments; a deep dive into PSD2 and MIF regulations for prepaid, mobile and payments providers by TrustEu Affairs’ Monica Monaco; and a merchant panel addressing interchange and regulation from their side of the table, APEX Europe wrapped up yesterday with panels and individual speakers addressing the opportunities in emerging payments.
Don’t get bogged down by existing technological limitations—they will inevitably fade with the march of innovation—and the future will be beyond what you can imagine.
Year one as the head of prepaid for Discover has led to some interesting lessons, including the importance of thinking beyond practical boundaries to create unique, workable solutions.
EMV chip card technology that helps block counterfeit card fraud at the POS is coming to the U.S., and last week I was one of the first on my block to experience it.
