People on the Move: GlobalPlatform, Board of Directors
GlobalPlatform, a nonprofit organization that standardizes managing applications on secure chip technology, has announced its board of directors for fiscal year 2014.
PayTech
People on the Move: Matt Frye, Ingo Money
Ingo Money, an Atlanta-based technology and solutions provider, has hired Matt Frye as senior vice president and head of network sales.
People on the Move: Rebecca Polley, Traxpay
Traxpay, a Mountain View, Calif.-based financial transactions platform provider, has appointed Rebecca Polley chief financial officer.
FTC Calls for Legislative Help to Protect Data in Senate Subcommittee Hearing (Feb. 4, 2014)
Although the consensus in yesterday’s Senate subcommittee hearing on “Safeguarding Consumers’ Financial Data” seemed to be around the shared responsibility of all stakeholders, including government, to protect financial data, the FTC specifically called for legislative action.
NBPCA Issues Updated Guidance for AML Compliance (Feb. 4, 2014)
The Network Branded Prepaid Card Association (NBPCA) has released an updated version of its Recommended Practices for Anti-Money Laundering Compliance.
European Parliament Backs EC Proposal to Extend SEPA Deadline to Aug. 1 (Feb. 4, 2014)
The European Parliament this morning approved the European Commission’s proposal to extend the deadline for payments to comply with SEPA regulations to Aug. 1, 2014.
Australian Investment Firm Bets Big on Mint Wireless (Feb. 4, 2014)
Australia is lighting up as the next hotbed of m-POS activity as Mint Wireless makes key moves to target a fast-growing base of small businesses going mobile and Square Inc. reportedly is considering expansion Down Under.
Monitise targets Turkish mobile money
Mobile money firm Monitise has acquired Pozitron Yazilim, an Istanbul-based mobile technology specialist, in a £24 million all-shares deal that highlights the growing demand for mobile financial services in the eastern Mediterranean’s largest market.
InComm Data: Digital Gift Cards Strong in Holiday ’13 (Feb. 3, 2014)
Digital gift cards were a hot item during the 2013 holiday season and got even more popular than plastic as Christmas neared, according to data from prepaid services provider InComm.
RBC Launches Facebook-based P2P Service for iPhone (Feb. 3, 2014)
Could Royal Bank of Canada (RBC) make a breakthrough with P2P by making it a cinch to send funds to Facebook friends?
Dunkin’ Bolsters Closed-Loop Card, Mobile App with New Rewards Program (Feb. 3, 2014)
Dunkin’ Donuts has launched a new nationwide loyalty program enabling customers to earn points toward free beverages.
Latest Monitise Acquisition Accelerates Mobile Money Capabilities (Feb. 3, 2014)
Monitise plc has acquired Pozitron Yazilim A.S., an Istanbul-based, privately owned mobile technology company.
Amazon Eyes P2P Payments and Physical Commerce (Jan. 30, 2014)
E-commerce behemoth Amazon isn’t satisfied with success in the digital world.
U.S. Bank Testing Voice-Based Biometrics for Mobile Financial Services (Jan. 30, 2014)
U.S. Bank is testing a voice-based biometrics mobile banking feature that could foreshadow the future of mobile payments if consumers warm up to it, Dominic Venturo, chief innovation officer at U.S. Bank, told attendees today at the Card Innovation Summit in Tempe, Ariz.
Service Gives Bitcoins for Starbucks Card Balances, New Virtual Currency Hits Market (Jan. 30, 2014)
Starbucks gift card holders now can redeem the unused balances on their cards for Bitcoin.
Senate Committee Sets Hearing on Consumer Data Security (Jan. 30, 2014)
The Senate Banking Committee will hold a hearing next week on safeguarding consumers’ financial information in the wake of recent data breaches at several major U.S. retailers.
SIX “greatly regrets” debit card mishap in Switzerland, Liechtenstein
SIX Payment Services has apologised after a technical glitch caused a number of debit card transactions in Switzerland and Liechtenstein to be accidentally booked twice on 22-23 January. Following the disaster, SIX managed to reverse 99.93% of the double bookings, with the remainder due to be reversed individually in the coming days. On average SIX […]
StoreFinancial Teams with Twins for RAN Gift Card (Jan. 28, 2014)
Pitchers and catchers might not report to spring training until mid-February, but StoreFinancial already is thinking about baseball.
BitInstant CEO Charged with Money Laundering in Silk Road Scheme (Jan. 28, 2014)
ederal prosecutors have charged the head of digital currency exchange BitInstant with conspiring to commit money laundering and operating an unlicensed money transmitting business.
Special Delivery? Agency Says Postal Service Should Consider Prepaid (Jan. 28, 2014)
The United States Postal Service’s Office of Inspector General has once again suggested that the Postal Service should consider providing financial products, including prepaid cards.
European Department Store Giant Goes Contactless (Jan. 28, 2014)
Madrid-based El Corte Inglés, Europe’s largest department store chain, this year plans to upgrade the majority of its POS terminals to accept contactless payments from NFC-enabled cards and handsets.
Russian firm streamlines customs payments with BPC systems
Russian online customs specialist firm Multiservice Payment System has begun using a new system designed by Swiss tech firm BPC Banking Technologies, which promises to make customs easier by combining a web portal with an e-declaration service via POS terminal.
WSJ: Apple Laying Groundwork for Mobile Payments Platform (Jan. 27, 2014)
Apple Inc. is making plans to launch a mobile wallet service for its iPhone, iPad and iTunes users, according to a Jan. 24 Wall Street Journal report.
CFPB Looks to Supervise Largest Nonbank International Money Transfer Providers (Jan. 27, 2014)
The Consumer Financial Protection Bureau has proposed a rule it says would enable the agency to oversee larger, nonbank, international money transfer providers to ensure they are following the CFPB’s new protections for consumers sending money abroad.
Stripe Lands $80 Million in Funding, Now Valued at $1.75 Billion (Jan. 27, 2014)
Payments processor Stripe Inc. has secured $80 million in a new round of investment that valued the 4-year-old startup at $1.75 billion.
UnionPay Taps Rev for Global Prepaid Push (Jan. 27, 2014)
Austin, Texas-based prepaid processor Rev Worldwide has partnered with Chinese payment card giant UnionPay to “grow prepaid market opportunities around the world.”
How many sides can you put on a coin?
There are two sides to every coin, but with Bitcoin those sides simply could not be farther apart. Its promise is extraordinary: for those afraid of inflation, it is gold redux, while for those who hate exchange rates, it is a way to pay internationally. For merchants it is a way of avoiding high transaction fees and for former Presidential hopeful Ron Paul, it is the destruction of the US Dollar.
T-Mobile Enters Prepaid to Serve Unbanked Customers, Increase Stickiness (Jan. 23, 2014)
T-Mobile USA Inc. this week became the first major U.S. mobile carrier to enter the GPR prepaid arena with Mobile Money by T-Mobile, a new smartphone application and accompanying Visa prepaid card.
Report: New Case to Give iPhone Users Access to NFC, Isis (Jan. 23, 2014)
With the Isis mobile wallet now live across the U.S., iPhone users remain unable to use the wallet to make contactless in-store purchases due to the handset’s lack of NFC capability.
Toyota to Offer Mobile Car Payments through Pingit (Jan. 23, 2014)
Toyota owners in the U.K. can make car payments via mobile device, now that the automaker has signed on with the Barclays Pingit mobile payment app.
Clear2Pay doubles headcount at Scottish testing facility
Clear2Pay is expanding its facilities in Scotland with the hire of 29 new staff, at its Dunfermline offices, bringing the headcount there to 50. The expansion is supported by a £250,000 Regional Selective Assistance grant from Scottish Enterprise. Kimball Felix, chief of staff at Clear2Pay, said, “In addition to our payments technology, we offer a […]
Blog: Intelligent Interactions Improve Customer Service, Boost Loyalty
While there are now a dozen ways to build and maintain relationships with customers, many organizations often still treat these channels as separate silos, creating a disjointed customer care experience. By sharing data across channels, you’re more likely to have less frustrated, more loyal customers.
UniRush Lands Industry Veteran Rick Savard
Recently minted CEO of UniRush LLC Rick Savard sees a bright future for the Cincinnati-based provider of the prepaid Visa RushCard.
Viewpoint: The Future of HSAs
How employees are using their accounts can have a dramatic impact on an employer’s overall HSA strategy and benefit plan. As we approach the 10th anniversary of the enabling legislation for HSAs, the industry, employers and brokers/agents all have the opportunity to move HSAs forward with the use of insightful reporting and analytical tools.
People on the Move: Matt Rosenburg and Charles Potts, Ingo Money
Ingo Money has announced Matt Rosenburg as the Atlanta-based technology and solutions provider’s chief information officer.
People on the Move: Todd Anderson, GiftCards.com
GiftCards.com, a subsidiary of Pittsburgh-based Wolfe LLC, has appointed Todd Anderson general counsel.
People on the Move: William Lamar Jr., Sionic Mobile Board
Sionic Mobile, an Atlanta-based m-commerce company providing mobile gifting, payments and rewards, named William “Bill” Lamar Jr. to its board of directors.
Blog: 2014—Diversification for E-Money
2014 is shaping up to be a big year for e-money and those players with the ability to spot opportunities (think loyalty and mobile), and the agility to react to them, will increase market share and thrive.
“Unbanked banks” suffer from tougher KYC rules
Senior transaction banking executives have called for a political discussion to resolve the issue of emerging market access to banking services caused by the reduction of the correspondent banking services network.
Better late than never: businesses should still sharpen up for SEPA
While many large organisations have already planned and delivered their SEPA compliance, smaller and mid-sized firms have woefully underprepared for the deadline. Banks and payment organisations need to be prepared for a certain amount of confusion and resistance from UK customers who may not understand the reasons for the change, and may be reluctant to put the necessary changes into effect.
