PayPal Inks Acceptance Deal with M-POS Provider PayAnywhere (Dec. 5, 2013)
Mobile POS provider PayAnywhere has struck a deal to enable its merchant clients to accept payments via PayPal’s payment card.
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Chinese Officials Ban FI Use of Bitcoin (Dec. 5, 2013)
Chinese officials today have banned financial institutions in the country from using Bitcoin as currency, asserting that bitcoins are merely virtual goods that have no status as legal tender.
Survey: Holiday Gifting Going Digital (Dec. 5, 2013)
Nearly 90 percent of consumers likely will purchase at least one gift card from a Website or mobile app this season, according to a study of consumer shopping trends conducted by InComm, a prepaid product and transaction services provider.
SVS Launches Data Center in China (Dec. 5, 2013)
Global gift card provider Stored Value Solutions (SVS) is strengthening its position in China with the launch of a new data center in Shanghai.
Better ATM Services Expands Footprint through Reseller Network (Dec. 5, 2013)
Visa prepaid gift cards and Discover multimerchant gift cards will be available in more ATMs in the Southwest this holiday through a reseller agreement between Better ATM Services and Express Teller Services announced yesterday.
BBVA Asset Management picks Markit for EDM platform
BBVA Asset Management has chosen an enterprise data management platform from Markit, which will act as hub for its securities, portfolio, fund, issuer and position data in several countries, including Spain and Mexico.
Blog: Grande 140-Character Payments
If ever there was a prize for solving a first world problem, creating the ability to buy a coffee for a friend or acquaintance by sending a tweet would be Nobel- worthy. But if the goal is to keep Starbucks in the conversation around the office (and sell more coffee), this should work.
Blog: Thinking Mobile First
Consumer expectations of mobile banking and prepaid are escalating rapidly, and the industry needs to respond aggressively, and think differently. As consumers demand more from their financial services providers, putting the mobile channel first in your strategy is key.
Italian banks sell stake in SIA
The group of banks holding a controlling interest in SIA, the Italian payments processor and systems developer, have reduced their ownership in a sale to a consortium of investment funds led by Fondo Strategico Italiano.
Blackhawk Expands EMEA Network with Latest Acquisition (Dec. 3, 2013)
Blackhawk Network has acquired Germany-based gift card distribution network Retailo AG, a deal which adds more than 40,000 new locations to Blackhawk’s total EMEA retail distribution network.
New Canadian Prepaid Regs to Take Effect in May (Dec. 3, 2013)
Starting May 1, 2014, prepaid cards will be subject to new regulations in Canada, including a ban on expiration dates and account maintenance fees during the first year a card is in use, among other measures.
Report: Prepaid Debit Usage Varies More by Age than Income (Dec. 3, 2013)
Though the common perception is that prepaid debit cards are designed for, and popular with, low-income consumers, demand for the product spans the income spectrum, according to a report by Aite Group LLC.
Gyft Offers Bonus for Purchases Made with Bitcoins; ATM Tops $1 Million in Volume (Dec. 3, 2013)
Consumers who purchased gift cards from Gyft.com on Thanksgiving and Black Friday received a discount on future purchases if they paid with Bitcoin. Gyft Inc., a San Francisco-based mobile gift card company, last week announced that 4 percent of purchases made with Bitcoin would be converted to Gyft Points that customers could use toward gift […]
Oberthur and mBank target emerging markets with mobile wallet
Digital security firm Oberthur Technologies has partnered with mobile services specialists mBank in a project aimed at bringing “branchless” banking services to people in emerging markets.
NCR makes “fundamental” changes to financial services business
NCR is “fundamentally and permanently changing” financial services its financial services business with a £1.6 billion acquisition of Digital Insight, a Californian on-line and mobile banking solutions provider. It has also bought UK-based fraud prevention company Alaric.
NRF: Weekend Shopping Tops 2012; More Cyber Shoppers Go Mobile (Dec. 2, 2013)
Shoppers and retailers continued to blur the line between Thanksgiving Day and Black Friday as consumer traffic on the holiday grew 27 percent, to nearly 45 million shoppers from 35 million a year ago, according to a National Retail Federation survey.
V.me Moves Forward in Europe (Dec. 2, 2013)
Visa’s entry into the digital wallet space is now live in a quartet of European countries.
PayPal Makes It Easier to Spend with Prepaid Cards; Tests M-Payments in Berlin (Dec. 2, 2013)
PayPal has made it easier for consumers with network branded prepaid gift cards to redeem them while shopping online.
Bank Muscat Insurance Covers Nearly $40 Million in Global ATM Heist (Dec. 2, 2013)
Oman’s Bank Muscat said it will recover nearly $40 million the bank lost in a global bank heist involving prepaid cards earlier this year, now that the bank’s insurers have agreed to foot the bill for the loss.
RBS commits to V.me by Visa mobile wallet as Nationwide beats it to roll-out
RBS has confirmed that it is to launch V.me by Visa, the digital wallet built by Visa Europe. The decision follows a pilot programme, and will mean that RBS follows in the footsteps of Nationwide Building Society, which has just become the first UK high street brand to roll out the wallet to its customers.
Insights on the Bitcoin Brouhaha
On Nov. 27, the bitcoin was trading at a record $1,000. While some applaud its decentralized nature, others, including regulators, have become wary of its potential effects. We asked two analysts to square off with Viewpoints on the pros and cons of the volatile virtual currency.
Viewpoint: Bitcoin Challenges Us All to Keep Innovating
Bitcoin (and the tsunami that has ensued) has been characterized as the next stage in the revolution of payments—more precisely, of money.
Viewpoint: Why Bitcoin Is Going Gangbusters and Why It Matters
If Bitcoin manages to become wildly successful, it’s likely that several similar currencies will appear alongside it. The focus of hackers all across the globe will then surely turn to these anonymous stores of virtual value rather than to traditional account-based payments.
House Committee Approves Six-Pack of Bills Targeting CFPB (Nov. 26, 2013)
The House Financial Services Committee, led by Chairman Jeb Hensarling (R-Texas), approved no less than a half-dozen bills late last week aimed at bringing more accountability, oversight and transparency to the Consumer Financial Protection Bureau.
Vodafone, Visa Continue NFC Push with European Wallet (Nov. 26, 2013)
Vodafone is bringing its NFC-based mobile wallet to Europe, and using an open standard to make it easy for banks, retailers and transportation agencies to host services in the wallet.
Skrill Hopes to Win Big with Online Gaming in New Jersey (Nov. 26, 2013)
With online gaming legal in New Jersey as of early this week, digital payments provider Skrill is anteing up to offer the only mobile wallet fully approved by the state’s Division of Gaming Enforcement (DGE), the company said.
Mobey Forum: M-POS Shifting ‘Balance of Power’ in Payments (Nov. 26, 2013)
The m-POS revolution, led by newcomers like Square targeting small merchants with smartphone-based card readers since 2009, is slowly but surely reshaping the payments landscape while regulatory and competitive changes also are afoot, according to Mobey Forum.
Green Dot Gets Regulatory Nod on Walmart Prepaid Issuing Takeover (Nov. 25, 2013)
Green Dot Corp.’s plan to take over issuing duties for Walmart’s MoneyCard prepaid line has earned regulatory approval from the Federal Reserve and the Utah Department of Financial Institutions, paving the way for the deal to close early next year.
Juniper Research: Contactless Cards Poised for Growth Surge in 2014 (Nov. 25, 2013)
While the future of widespread NFC payment adoption hangs in limbo, the number of contactless cards in circulation with simple tap-and-go payment technology will see a growth surge next year, according to new data from Juniper Research.
ECB Seeks Comments on M-Payments Security Proposal (Nov. 25, 2013)
The Governing Council of the European Central Bank has drafted a set of recommendations to enhance mobile payments security, and the agency is seeking comment from industry participants and other interested parties on the proposed guidelines.
UnionPay, Bank of China Welcome Tourists with Travel Card (Nov. 25, 2013)
Bank of China and Union Pay International have launched the first BOC UnionPay Travel Card in Southeast Asia, offering cardholders discounts for more than 700 tourist attractions in China and the surrounding region as well as offers for travel, dining, shopping and car rentals.
European Central Bank seeks comment on mobile security proposals
A draft set of 14 recommendations to promote the security of mobile payments has been published by the European Central Bank for public consultation.
Moving Money: the ATM makers’ view of the future
With the rise in mobile payments and wallets, cash is dead and so is the ATM business, right? Not according to the ATM manufacturers, who are all being remarkably sanguine.
Who Needs NFC? Google Wallet Adds Plastic Payment Card (Nov. 21, 2013)
Google Wallet is giving users a way to pay the old fashioned way, unveiling a plastic payment card that can be used instead of a smartphone to make in-store purchases.
Isis Unveils Alliance Program to Spur NFC Acceptance (Nov. 21, 2013)
A week after going live throughout the U.S., Isis has announced the launch of an alliance program to support merchant technology providers by offering them tools and resources to help capitalize on the spread of mobile commerce.
Vantiv Report: Banks, Younger Consumers Signal Prepaid Growth (Nov. 21, 2013)
Financial institution and merchant executives looking to capitalize on industry growth opportunities anticipate expansion in prepaid card products, especially among younger consumers, according to new research from Vantiv.
ReD Partnership to Fight Fraud in Africa (Nov. 21, 2013)
ReD, a London-based provider of fraud prevention and payment services, has signed a five-year partnership agreement with Transact Connect to introduce ReD’s products and services to merchants and financial institutions throughout Sub-Saharan Africa, a region where payments industry experts believe much opportunity exists.
TCS Bank readies Russian mobile wallet for Christmas
Russian bank Tinkoff Credit Systems has become the latest financial institution to launch a mobile wallet service, which is due to go live on 1 December 2013. The new wallet will target Russia and will be available on both Android and Apple iOS devices.
Volante rolls out T2S Accelerator
Fintech vendor Volante Technologies has launched its T2S Accelerator, which is designed to help financial services firms to prepare for the T2S settlement platform.
Visa, i2c Ink Deal to Bring Prepaid to Growing Markets (Nov. 20, 2013)
Visa and prepaid processor i2c are teaming up with their sights set on Asia-Pacific, Central Europe, the Middle East and Africa.
