Kalixa NFC mobile wallet targets Europe

A mobile wallet offering built by Kalixa Group claims to be able to turn just about any phone – including the iPhone – into an NFC payment device. The toolkit has launched in the UK, marking the first step in the firm’s plans for Europe-wide NFC mobile payments.

Report: Open-Loop Prepaid Revenue on Strong Growth Track Through 2017 (July 23, 2013)

July 23, 2013 U.S. open-loop prepaid revenue will reach $4.5 billion this year, up 18.4 percent from $3.8 billion in 2012 as growth rates on prepaid load volume, transactions and revenue continue to exceed 15 percent annual growth, according to new data from First Annapolis Consulting. Increasing consumer adoption of GPR products, which accounted for […]

MicroSD Powers New U.K. Mobile Wallet (July 23, 2013)

July 23, 2013 A new smartphone-based prepaid wallet launching in the U.K. will enable iPhone and Android users to pay for in-store purchases via tap using NFC technology. First launched in the U.S. last August, the Paybefore Award-winning moneto digital wallet is a joint venture between Kalixa Group, DeviceFidelity and MasterCard. The wallet is powered […]

Bank of America Merrill Lynch Debuts ‘Dashboard Analytics’ Tool (July 23, 2013)

July 23, 2013 Bank of America Merrill Lynch continues its push to expand the reach and capabilities of its Global Transaction Services (GTS) with the unveiling this week of a new dashboard tool for its commercial card clients around the world. Dashboard Analytics, a module on the bank’s global reporting and account management system, harnesses […]

Lawsuit Alleges ‘Abusive Practices’ by CFPB (July 23, 2013)

July 23, 2013 Kimberly Pisinski, a Connecticut-based attorney, yesterday filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) in the U.S. District Court for the District of Columbia claiming that the federal agency engaged in “abusive practices, including attempts to regulate the practice of law, attempts to collect attorney-client protected material and overreaching demands […]

PFS Bringing Prepaid MasterCard to Slovenia (July 23, 2013)

July 23, 2013 A new prepaid MasterCard is coming to Slovenia, now that Prepaid Financial Services (PFS) has unveiled what it calls the nation’s first domestically issued prepaid card bearing the MasterCard brand. The SmartPayCard Prepaid MasterCard is available in two versions: SmartPayCard Simple, a non-reloadable virtual prepaid card, which can be loaded up to […]

India’s ICICI takes aim at Indian mobile payments

India’s ICICI Bank is to launch a mobile payments service built by Movida, the Indian joint venture between Visa and mobile money specialist firm Monitise, that will draw on the potential to reach unbanked customers in the country.

Discover Adds 43,000 Surcharge-Free ATMs via Allpoint Deal (July 22, 2013)

July 22, 2013 Discover cardholders in the U.S. now have free access to cash at 43,000 more ATMs, thanks to a partnership that brings the Discover and Diners Club brands into the Allpoint Network, part of the largest independent ATM provider in the country. The deal enables Discover to provide its cardholders with expanded cash […]

U.S. Bank Connects Square to Digital Wallet Options (July 22, 2013)

July 22, 2013 With its latest move making it easier for customers to pay using the Square Inc. mobile app, U.S. Bank left no doubt it plans to support multiple digital wallet providers. The Minneapolis bank last week announced that its customers may link a credit, debit or prepaid card to the Square app within […]

Movida Signs Deal with ICICI Bank to Offer Mobile Payments in India (July 22, 2013)

July 22, 2013 ICICI Bank customers soon will be able to pay bills, make purchases and reload prepaid airtime from their mobile phones. India’s largest private commercial financial institution today announced a deal with Movida, the joint venture between Visa Inc. and Monitise, which enables consumers to use Movida’s mobile payments technology regardless of phone […]

Roundtable: the Future of Standards

Predicting the future is never easy, but trying to anticipate likely developments in a particular area is essential in order to take timely action. With that caveat, Stephen Lindsay, head of standards at SWIFT, sets a boundary on a discussion on the Future of Standards: “What we are trying to do is extrapolate a little bit from where we are now to where we might be in a few years’ time,” he says.

Barclays under fire for “outrageous” remittance closures

At a passionate debate in Westminster this week MPs, led by Rushanara Ali, member for Bethnal Green & Bow, called for government action in the wake of Barclay’s recent decision to close accounts for a large number of small payments businesses in the remittances sector.

Slovakia shapes up as centre of excellence for mobile payments

The on-going turf wars that have held back the adoption of using mobile phones as a payment device at the point-of-sale will soon be a thing of the past if the progress made in Bratislava over the past year is any indication. The success of a project involving Visa Europe, Tatra Bank, Telefónica Slovakia’s O2 operation and a substantial number of retailers makes the Slovakian capital a showcase market for contactless technology.

Making contact … eventually

Despite security concerns, contactless payments technology continues to be rolled out globally. Visa International recently estimated that the volumes of contactless transactions it will process during 2013 will quadruple. MasterCard’s figures show that since 2012 there has been a 50% increase in the number of contactless cards it has issued.

InComm Expands Digital Offerings in Stores, on Web (July 18, 2013)

July 18, 2013 The shift to omnichannel retail continues as InComm this week rolled out a pair of services to enable the prepaid provider’s client companies to expand their digital product offerings in stores and on the Web. InComm’s new in-store digital sales program opens the door for merchants to offer products such as downloadable music, […]

Report: Banks Hold the Key for Mobile Shopping in Europe (July 18, 2013)

July 18, 2013 European consumers are most comfortable turning to their banks when it comes to mobile shopping, according to a new report. The study, commissioned by Monitise and conducted by the Future Foundation in May 2013, polled a sample of 1,500 smartphone users in the U.K., Germany and Spain. Fifty percent of German smartphone […] Beefs Up Security for Digital Gift Card Sales (July 18, 2013)

July 18, 2013 Responding to growing demand for digital gift cards, has revamped its system for handling electronic gift card sales, including beefing up bulwarks against fraud, the company said. Brick, N.J.-based, launched in 2008, specializes in reselling unused consumer gift cards via the secondary market. In June CashCard introduced an “e-code” sale […]

Breaking News: Senate Confirms CFPB Director Cordray (July 17, 2013)

July 17, 2013 The U.S. Senate yesterday confirmed Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB) amid growing acrimony along party lines over several of President Barack Obama’s nominations. The vote was 66-34. Senate Majority Leader Harry Reid (D-Nev.) late last week filed cloture motions to force votes on seven nominees in […]