Clear and effective legislation could result in a beneficial change for business. An unclear and ineffective one would result in another obstacle to a “further integrated and efficient European payments market,” which the commission has set as the first objective the Payments Package should achieve.
Japanese mobile telecom provider NTT Docomo is partnering with MasterCard to enable users of Docomo’s iD mobile wallet to make contactless purchases at 1.2 million MasterCard PayPass acceptance locations worldwide.
First Data Corp., an Atlanta-based payments processor, has acquired Perka, provider of a mobile marketing and consumer loyalty platform enabling small to midsize merchants to better engage with customers through location-based smartphone apps. Perka will continue to operate autonomously as an entrepreneurial company led by its current management and product development team, according to an […]
U.S. Bank next month will roll out Mobile Photo Balance Transfer, a feature from Mitek Systems enabling customers to apply for a credit card balance transfer by snapping a photo of a credit card bill with a smartphone and sending it to the bank. Standard credit card approval processes apply. The new service rounds out […]
Workers are highly motivated by rewards and inventive programs provided by their employers, with nearly three-quarters of employees saying they would put in extra effort to earn rewards, according to a new study from U.K. payment provider Ixaris. The company’s 2013 Study of Rewards and Incentives polled 4,800 workers in the U.S., U.S., Canada, France […]
Cloud computing company SAP has signed a deal with Citibank for a major new cloud platform that promises to simplify corporate to bank connectivity for some of the world’s largest banks, Banking Technology has learned.
PayPal on Oct. 25 announced a new partnership with Kenya’s Equity Bank to link local merchants with the global online marketplace. Kenya’s e-commerce operators for the first time will be able to hold proceeds from online sales in a local bank account where they may receive payments in 26 different currencies, which are automatically converted […]
Two House Democrats have proposed measures to crack down on money laundering by deterring the use of shell corporations and giving regulators the authority to hold bank executives accountable for misconduct taking place on their watch. The first bill, proposed by Rep. Maxine Waters (D-Calif.), would strengthen the government’s ability to charge individuals with violations […]
A coffee shop in Vancouver, British Columbia, will be home this week to what some are hailing as the world’s first Bitcoin ATM, which can exchange cash for the controversial digital currency.
A law prohibiting surcharges on certain types of payments should apply to mobile carriers, an adviser to the EU’s Court of Justice told the Austrian Supreme Court, which is currently deliberating an appeal by T-Mobile after the carrier’s surcharges were ruled illegal by lower Austrian courts. The case stems from a lawsuit filed by a […]
The Reserve Bank of Australia and the Australian Payments Clearing Association have proposed creating a new industry body called the Australian Payments Council, to better coordinate the country’s payments system.
Clear2Pay, the Brussels-based payments systems company, says that selling the company “is not part” of its current plans.
HSBC Bank China has completed its first electronic tax payment for a corporate client in Shanghai, in a move that the bank says is the first among all foreign banks I the city. The new tax payment service deducts funds in real time and enables customers to complete tax reports and process payments on the government’s tax system terminal from any location.
Fewer than one in four of UK consumers would use their smartphone like a credit card to make payments even if they had the relevant app, according to a new survey carried out by YouGov on behalf of outsourcing firm Firstsource Solutions.
A pair of payments industry heavy-hitters is banding together, with prepaid provider Blackhawk Network announcing that its electronic gift cards will be accessible within the PayPal mobile app. Meanwhile, the partnership gives PayPal yet another foothold in the physical payments space, bringing PayPal’s reloadable GPR prepaid card to Blackhawk’s extensive retail distribution network. “Our collaboration […]
The Federal Reserve Bank of Philadelphia’s Payment Cards Center this week unveiled a white paper analyzing the effects of sweepstakes-based financial literacy programs New York-based PayPerks developed to help educate unbanked and underbanked consumers using prepaid government benefits cards. The 26-page paper, “Driving Positive Behavior Change Through Education and Motivation: Summary of a PayPerks Workshop,” […]
Oct. 24, 2013 Mobile deposit capture took a big step toward mainstream adoption in the prepaid industry with the announcement this week that Ingo Money Inc.’s mobile deposit capture pilot with Visa, which began last year, is officially out of beta. Ingo Money’s service enables consumers to deposit checks into their Visa Prepaid card accounts by […]
With new regulations on remittance transfers set to take effect next week, the CFPB laid out its standards for examining companies covered by the rules. In Jan. 2012, the CFPB issued its final rule outlining remittance regulations as set by the Dodd-Frank Act. The rule was revised in May 2013 after complaints from industry participants […]
The European Central Bank (ECB) is calling the next three months critical for stakeholders still needing to migrate to the Single Euro Payments Area (SEPA) for electronic payments transactions. The deadline for migration to SEPA credit transfer (SCT) and SEPA direct debit (SDD) schemes is Feb. 1, 2014. “Everybody has to be ready . . […]
Amid big transit rollouts in Chicago and Salt Lake City, Las Vegas is getting in on the action with a new pilot program enabling transit riders to pay bus fares with a tap.
Pharmacy giant will soon find out if its suite of financial services is just what the doctor ordered for the millions of unbanked and underbanked consumers in the U.S.
Money2020 highlighted financial services technology innovation, as the biggest names from major payment companies, startups and investors convened to glimpse the future of payments.
Although retailers traditionally had balked at offering discounted gift cards, many are shifting strategies to keep up with consumer demand and are increasing overall sales.
Blackhawk Network late Monday announced it plans to acquire InteliSpend Prepaid Solutions, a leader in corporate incentive cards and promotions, in an all-cash deal expected to close no later than next month. Blackhawk sought InteliSpend, a 2013 Paybefore Award winner, because of the “great synergies” that exist between Blackhawk’s own retail gift card partners and […]
Financial services technology provider Fiserv has launched a new platform that enables small- and medium-size billers to send electronic bills and accept payments through multiple channels. Dubbed Biller Advantage, the platform targets companies that send between 2,000 and 500,000 bills a month, according to Brookfield, Wis.-based Fiserv. “Biller Advantage provides the functionality small- to mid-sized […]
Payments startup Clinkle Corp. already has landed some big name investors—and now the San Francisco-based company is filling out its executive team, announcing that former Netflix CFO Barry McCarthy will join Clinkle as COO. Established in 2011 by 22-year old Stanford grad Lucas Duplan, the company has been developing a payment app that reportedly will […]
FEXCO, a provider of financial transaction processing, foreign exchange and outsourcing services based in Ireland, has acquired mobile payments and loyalty startup FLASHiZ, with BNP Paribas Personal Finance taking a minority shareholder stake in the Luxembourg-based company.
An ex-Coca Cola chief executive was once quoted talking to staff about the work-life balance – juggling careers, family, health, friends and spirit. In the financial services industry today, work life itself is quite a balancing act.
Chattanooga, Tenn.-based prepaid processor and program manager TransCard announced that CEO Craig Fuller has been named CEO of the Year in the North America division by Finance Monthly.
Transaction Network Services has hired Lisa Shipley as head of global strategy for the Reston, Va.-based company’s payments division.
Telefónica Digital has hired Pilar Aurrecoechea as digital financial services director, reporting to Vivek Dev, CEO of digital services.
Ned Horsted has been awarded the U.S. Recruiting Network, South Dakota Top Producer for Q3 2013.
Austria-based paysafecard.com Wertkarten AG, provider of digital prepaid online payment solutions, has appointed Michael Pirker to the newly created position head of business development, and Michaela Unger has been appointed public relations and communication manager.
Mercator Advisory Group recently announced several company appointments.
Green Dot Corp. has named Grace Wang chief financial officer. She will report to CEO Steve Streit, and will assume her new role Nov. 18, 2013.
Fiserv Inc., a Brookfield, Wis.-based financial services technology provider, has hired Matt Wilcox as managing director, marketing strategy and innovation, digital payments.
CO-OP Financial Services, a Rancho Cucamonga, Calif.-based credit union service organization, has named Lois Hansen vice president, product development.
CashStar Inc., a Portland, Maine-based provider of digital gifting technology and Paybefore Award-winner, recently announced that Ben Kaplan has been named president and CEO.
Bitcoin Foundation, a nonprofit institution founded last year to promote Bitcoin use, has elected Meyer (Micky) Malka and Elizabeth T. Ploshay to its board.
Program manager Access Prepaid Worldwide, a MasterCard company, has appointed Rajeev Kumar regional director and general manager for the Middle East and Africa.
