Reports: Open- and Closed-Loop Markets Slow to Single-Digit Growth (Aug. 29, 2013)

Aug. 29, 2013 Following double-digit growth a year earlier, market growth for open- and closed-loop prepaid cards, as measured by total dollars loaded, slowed from 2011 to 2012, according to recently released annual reports by Mercator Advisory Group. Total dollars loaded in the open-loop prepaid market grew by only 6 percent to $194.5 billion year […]

MasterCard, C-SAM Continue Global Wallet Initiative with Japan Launch (Aug. 29, 2013)

Aug. 29, 2013 MasterCard is joining with mobile payment technology provider C-SAM and mobile wallet service provider DNP to bring a white-label NFC-based mobile wallet service to Japan. The service will integrate MasterCard’s PayPass Wallet Services contactless payment technology with C-SAM’s mobile transaction platform and DNP’s mobile wallet services, enabling merchants to offer their customers […]

Fiserv Banks on Rise of Tablets with New Mobile Banking Service (Aug. 29, 2013)

Aug. 29, 2013 Financial services technology provider Fiserv Inc. is seeking to capitalize on the recent boom in tablet-based banking with a new turnkey mobile banking app specifically for tablet users. The Mobiliti: Tablet service is being offered to banks and credit unions, which can use the system to offer their tablet banking customers a […]

eGifter Deal Enables Consumers to Buy Gift Cards with Bitcoin (Aug. 29, 2013)

Aug. 29, 2013 eGifter, a social and mobile gifting company and subsidiary of Melville, N.Y.-based, has partnered with Bitcoin wallet and platform provider Coinbase, enabling users of the eGifter Web and mobile apps to use Bitcoin virtual currency to purchase eGift cards from more than 100 brands, including GameStop, Home Depot and CVS. Coinbase enables its […]

Blog: Will Prepaid Change the Way China Shops? (August 2013)

By Shoney Yuan, Ceridian Stored Value Solutions (SVS) Take a stroll down any street in one of China’s big cities and it’s hard not to feel excited about the business potential this vast nation offers. Sophisticated marketing and innovative advertising compete for your attention as a consumer. There is much to buy—from groceries, to household […]

Santander and iZettle launch in Brazil

Swedish payment company iZettle and Spain’s Banco Santander have launched a new ‘social payments’ system in Brazil, which is designed to help small businesses take card payments with Apple and Android smartphones and tablets.

Fed, Merchants File Motion to Extend Stay of Interchange Ruling (Aug. 27, 2013)

Aug. 27, 2013 The Federal Reserve Board of Governors has filed a motion to extend the stay of a July 31 court decision that invalidated the agency’s rules implementing debit interchange and network routing requirements under the Durbin Amendment. The consent order, filed Monday in U.S. District Court in Washington, D.C., requests that Judge Richard […]

Facebook Commits to Gift Cards, Facebook Card (Aug. 27, 2013)

Aug. 27, 2013 After several months of experimentation, Facebook has made the decision to focus on gift cards and eliminate the gift service in which it sold and shipped physical gifts to recipients. Since launching its Gifts service in September 2012, 80 percent of the gifts users chose to send to other Facebook users were […]

Bitcoin Group Discusses ‘Safe and Sane’ Regulations with Feds (Aug. 27, 2013)

Aug. 27, 2013 Bitcoin Foundation, an advocacy group whose stated objectives include Bitcoin standardization, promotion and protection from counterfeiters and thieves, met yesterday with several federal agencies to provide information about the decentralized virtual currency. “The meeting was educational in nature,” says Jinyoung Englund, spokesperson for Bitcoin Foundation and director of communications and marketing at […]

Nigerian Prepaid Card Aims to Reduce Unclaimed Dividends (Aug. 27, 2013)

Aug. 27, 2013 A new prepaid card in Nigeria enables shareholders to receive dividend payments directly onto the card. The First Dividend Plus Prepaid Card is being billed as a “revolutionary product” by Verve International, the payment card provider that is releasing the card in partnership with stock registrar service First Registrars Nigeria. The card […]

TSYS Inks Deal with Discover to Process In-Store PayPal Transactions (Aug. 26, 2013)

Aug. 26, 2013 Another element of PayPal Inc.’s in-store payments strategy fell into place today with the announcement that TSYS has inked an agreement with Discover Network to process PayPal transactions at U.S. brick-and-mortar locations as part of the PayPal in-store payment acceptance partnership announced last year with Discover. TSYS’s involvement will provide an expanded […]

Shell Canada Taps StoreFinancial for Gift Card Program (Aug. 26, 2013)

Aug. 26, 2013 Shell Canada has launched a gift card program with StoreFinancial, which is providing processing and program management services. StoreFinancial is providing Shell with a restricted authorization network (RAN) card, along with its RASER card activation technology, which enables client retailers to sell and activate gift cards without a third-party distributor, regardless of […]

Report: Canada’s Employers Embrace Corporate Incentives (Aug. 26, 2013)

Aug. 26, 2013 A growing number of Canadian companies are using corporate incentive programs to motivate and reward employees and customers—and to greater effect, according to a recent report by Berkeley Payment Solutions, a Toronto-based provider of MasterCard and Visa prepaid card programs for corporations, governments and financial institutions. Slightly more than three-quarters of respondents […]

Vodafone Expands Availability of M-Pesa (Aug. 26, 2013)

Aug. 26, 2013 Vodafone continues to expand availability of M-Pesa throughout India as it readies the launch of the money service in at least two other countries by the end of this year. As an expansion of its partnership with ICICI Bank, India’s largest private sector bank, M-Pesa is now available to consumers in Delhi, […]

Diverse Reactions on Interchange Appeal; Judge Requests Briefs on Possible Interim Rule (Aug. 22, 2013)

Aug. 22, 2013 Financial industry groups are applauding yesterday’s announcement by the Federal Reserve Board of Governors that it will appeal a court ruling invalidating the agency’s debit interchange and network routing rules. Though the Fed’s rules setting debit interchange fee limits under the Durbin Amendment are “far from perfect,” the court’s July 31 decision […]