Blog: How to Think Like a Startup (Part 1) (August 2013)

By Joe DeSetto, Emerging Payments Blogger The payments startup culture, as it currently exists, is now mature enough that established firms in even highly regulated, slower moving industries can learn a thing or two from how these smaller, faster, younger tech companies think. While size, scope, market, finances and level of success varies widely upon […]

MasterCard, Travelex Launch Five-Currency Prepaid Card for U.S. Travelers (Aug. 14, 2013)

Aug. 14, 2013 Travelex has teamed up again with MasterCard and its subsidiary Access Prepaid for what the companies say is the first-ever multicurrency prepaid travel card specifically developed for U.S. travelers. The Multi-Currency Cash Passport Prepaid MasterCard, equipped for both magnetic-stripe and EMV chip transactions, enables customers to preload funds in five currencies simultaneously, […]

PayPal Signs Deal for In-App Payments (Aug. 14, 2013)

Aug. 14, 2013 PayPal Inc. has struck deal with mobile in-app commerce provider Lotaris that will add PayPal acceptance to the Lotaris platform. The pact enables commercial app developers using Lotaris’ in-appCommerce service—which providers licensing and payment solutions for purchases made within mobile apps—to offer users the option to pay with a PayPal account. The […]

Credit Association Partners with EnStream for Canadian Mobile Wallet (Aug. 14, 2013)

Aug. 14, 2013 EnStream, the mobile payments joint venture between Canadian telecom providers Rogers Communications, Bell Corp. and TELUS Corp., has inked a deal with credit union association Desjardins Group to enable Desjardins’ banking customers to add payment cards to NFC-enabled smartphones. Under the partnership, Desjardins can offer its own branded banking app that’s compatible […]

N.Y. Looks to Tame ‘Wild West’ of Virtual Currencies (Aug. 14, 2013)

Aug. 14, 2013 Less than a week after a U.S. federal judge ruled that Bitcoin is real currency, New York State’s Department of Financial Services (DFS) announced it has launched an investigation into virtual currencies. “The emergence of Bitcoin and other virtual currencies has presented a number of unique opportunities and challenges,” DFS Superintendent Benjamin […]

Canada’s Desjardins financial cooperative pushes NFC offering

Canada is seeing a fresh push to promote near field communication (NFC) services after Canadian cooperative financial group Desjardin signed a deal with mobile money solutions provider Monitise and a joint venture with the nation’s three largest mobile operators.

Viewpoint: 7 European Markets and Their Shifting Prepaid Opportunities (Spring 2013)

An Edgar, Dunn & Company study compares the existing state and prospects for corporate and government prepaid programs in Europe in 2010 and 2013. We assessed seven European countries— France, Italy, Germany, the U.K., Spain, Poland and Turkey—and rated the attractiveness of each market, based on the legal and regulatory environment and prepaid market receptiveness, against the prepaid market opportunity.

Hearing Set for Tomorrow on Court Interchange Ruling (Aug. 13, 2013)

Aug. 13, 2013 A hearing scheduled for tomorrow in U.S. District Court in Washington, D.C., will be the next step in the legal wrangling over the Federal Reserve’s debit interchange rule. The hearing follows the ruling late last month by U.S. District Court Judge Richard Leon that the Fed’s Board of Governors overreached in its […]

Chase Joins mPOS Race (Aug. 13, 2013)

Aug. 13, 2013 Chase today jumped into the mPOS race, offering a free mobile card reader for small business customers that has a few frills but a somewhat more traditional pricing plan, according to an announcement from Chase Paymentech, JPMorgan Chase & Co.’s acquiring and processing subsidiary. Like Square, which galvanized the mobile payments market […]

CloudZync Debuts U.K. Wallet (Aug. 13, 2013)

Aug. 13, 2013 Another mobile wallet provider has entered the fray in the U.K. British startup CloudZync has launched its Zync Wallet app for iOS and Windows phones, with an Android version to follow soon. Thus far, 280 merchants in London have signed on to accept Zync Wallet, which works by generating a QR code […]

Debit Rewards Provider PerkStreet to Shut Down (Aug. 13, 2013)

Aug. 13, 2013 PerkStreet Financial, a Boston-based cash-back debit rewards provider, has announced it will shutter its services next month, citing a lack of financing along with regulatory restrictions that limited its ability to compete. In a notice posted on the company’s Website, PerkStreet said it will cease business operations on Sept. 26 and will […]

Study: Gen Y Using Mobile among Other Methods to Pay Bills (Aug. 13, 2013)

Aug. 13, 2013 Although Generation Y consumers, ages 18 to 34 years old, pay bills using a mobile device more than other generations, Gen Y consumers still prefer to have  other bill payment options, according to a recent Western Union Co. study. More than 30 percent of Gen Y respondents reported paying a bill using […]

Prepaid Card User Snapshot: Who They Are, How to Reach Them (Spring 2013)

By Bill Grabarek, Senior Editor Acxiom consumer data shed light on current and future prepaid customers. Industry experts estimate that prepaid—despite its exponential growth—has barely made a dent in reaching underbanked consumers. And evidence suggests that targeting younger consumers also might be fertile ground for providers looking to grow their portfolios. To help providers better […]

One American in three uses mobile banking

One in three US adults now uses mobile banking in their day to day lives– a rise of almost double since 2011, according to new research from the US Pew Research Centre.

Isis Links with Amex’s Serve; Expands Chase Connection (Aug. 12, 2013)

Aug. 12, 2013 American Express Co.’s prepaid brand Serve will get a slot in the Isis mobile wallet when the mobile commerce venture rolls out nationally later this year, which could boost Serve’s awareness among its intended audience of underbanked consumers. Today JPMorgan Chase & Co. also said it plans to expand its relationship with […]

PayPal Unveils Facial Verification for In-Store Payments (Aug. 12, 2013)

Aug. 12, 2013 Shoppers in the London borough of Richmond now can use their photos to verify their identity when making in-store purchases with PayPal’s mobile app. A new pilot in the company’s U.K. home base enables a user to find nearby shops and restaurants that accept PayPal, then check in by clicking on the […]

Google Wallet Removing NFC Loyalty, Gift Redemption (Aug. 12, 2013)

Aug. 12, 2013 Google is discontinuing NFC redemption for gift and loyalty cards stored in Google Wallet. Late last week, the company sent an email to users who had added gift or loyalty cards to their Wallet app, saying NFC redemption of such cards will end on Aug. 21. Cardholders have until that date to […]

SpendTrend: Consumer Spending Growth Hits 12-Month High (Aug. 12, 2013)

Aug. 12, 2013 A long Fourth of July weekend and warm, dry weather throughout much of the U.S., among other factors, contributed to strong consumer spending last month, according to the latest SpendTrend data released by First Data Corp., an Atlanta-based payments processor. Dollar volume growth in July increased 7.7 percent year over year, compared […]