PayTech


Omani Bank Stung by Travel Card Fraud (Feb. 26, 2013)

Feb. 26, 2013 Oman’s largest bank said a dozen of its prepaid travel cards were compromised outside of the country. Bank Muscat will take an impairment charge of up to 15 million rials (US$39 million) as a result of the unspecified fraud—a figure representing more than 10 percent of the bank’s latest annual earnings.   […]

SEPA Uncertainty

Big banks and their large corporate clients are in the final stages of preparation for the SEPA end date of February next year, but what about the smaller clients in the non-euro countries?

Wagner aims at m-commerce gap

Dan Wagner is pretty sure that he has an idea how the use of mobile devices will play out in the commercial world and how the relationships between banks, merchant acquirers, merchants and customers will change.

Visa Inks Deals with Samsung, Roam for ‘Ready Partner’ Program (Feb. 25, 2013)

Feb. 25, 2013 Aiming to speed up development of mobile payment technologies, Visa Inc. on the eve of this week’s Mobile World Congress in Barcelona announced the Visa Ready Partner Program, a framework it hopes will make it easier for mobile device manufacturers, mobile network operators and various of their technology partners around the world […]

MasterCard Unveils MasterPass for ‘Simple’ Shopping Experience (Feb. 25, 2013)

Feb. 25, 2013 MasterCard Inc. today unveiled MasterPass, a cloud-based service that builds on its PayPass Wallet Services by eliminating the need for consumers to enter card or shipping details with each purchase and adding new tools to enhance online, mobile and in-store shopping. MasterPass will roll out through banks in Canada and Australia beginning […]

PayPal to Enter Crowded European Mobile Card Reader Market (Feb. 25, 2013)

Feb. 25, 2013 PayPal continues its diversification into brick-and-mortar payments with the announcement that it will expand its PayPal Here mobile card reader to Europe, beginning in the U.K. this summer. The European iteration of PayPal Here will differ from the version launched in the U.S. nearly a year ago in some key ways, due […]

ATM Survey Suggests Prepaid Card Opportunity for FIs (Feb. 25, 2013)

Feb. 25, 2013 Recent research into the prepaid card-buying habits of ATM users indicates an opportunity for credit unions and banks to capture a portion of the prepaid card market by leveraging the convenience of ATMs. More than 85 percent of credit union members use ATMs and 70 percent of those ATM-using members also buy […]

China UnionPay Continues NFC Push with Gemalto Pact (Feb. 25, 2013)

Feb. 25, 2013 Shanghai-based payment card network China UnionPay (CUP) continues its efforts to develop NFC payments, signing an agreement with Dutch digital payment security provider Gemalto to build “a secure mobile NFC ecosystem.” The partnership will cover deployment issues including trusted service manager interoperability, along with technology standards and specifications, the firms said. China […]

PayPal rolls out Chip & PIN reader in Europe

Payment provider PayPal has launched a card reader device that handles Chip & PIN and PayPal payments in Europe. The device will be available to select UK businesses over the coming months before becoming generally available this summer.

The changing face of payments

The Payments Council’s latest report, The Way We Pay, shows rapid changes in use of payment methods over the past decade – but cash is still in the mix.

iZettle and Santander “democratise” cheap card payments

Spanish bank Banco Santander has signed a deal with iZettle, a fledgling Swedish payments specialist that focuses on ‘social’ payments. The two companies plan to distribute mini chip-card readers to customers, so that they can accept card payments with smartphones and tablets.

Debit Network Routing Debate for EMV Transactions under Durbin Simmers (February 2013)

February 2013 By Kate Fitzgerald, Emerging Payments Editor With less than three years to go before U.S. EMV liability-shift deadlines begin to take effect, payment industry participants beginning to make their plans are facing their first obstacle, as the U.S. debit networks wrestle with options for choosing a technology approach for routing chip-based debit transactions under […]

Viewpoint: A Tale of Two Gen Ys that Desire Prepaid Cards (February 2013)(2)

February 2013   By Aleia Van Dyke, Javelin Strategy & Research The slow economic recovery from the Great Recession has forced young Americans to confront a dismal financial reality marked by unprecedented student loan debt and soaring unemployment. But the financial industry cannot afford to ignore Gen Y, the generation of consumers born from 1979 […]

Viewpoint: A Tale of Two Gen Ys that Desire Prepaid Cards (February 2013)

By Aleia Van Dyke, Javelin Strategy & Research The slow economic recovery from the Great Recession has forced young Americans to confront a dismal financial reality marked by unprecedented student loan debt and soaring unemployment. But the financial industry cannot afford to ignore Gen Y, the generation of consumers born from 1979 to 1999. By […]

FCB’s Exit from Issuing Leaves Program Managers Seeking New Partners (February 2013)

February 2013   By Adam Perrotta, Assistant Editor Dozens of prepaid program managers are scrambling to find a new bank issuer with First California Bank (FCB) exiting the issuing business ahead of its acquisition by PacWest Bancorp.                                    In November, PacWest agreed to pay $231 million for FCB’s parent company, Westlake Village, Calif.-based First California Financial […]

Inside Eurograbber: the £30m mobile banking heist

In the history of bank robberies, the £30 million stolen by the Eurograbber attack in 2012 ranks as one of the all-time biggest, globally. And when you consider that this sum was stolen from more than 30,000 accounts across 30 banks in four European countries, using malware that affected both PCs and bank customers’ mobile […]

Viewpoint: A Tale of Two Gen Ys that Desire Prepaid Cards (February 2013)

By Aleia Van Dyke, Javelin Strategy & Research The slow economic recovery from the Great Recession has forced young Americans to confront a dismal financial reality marked by unprecedented student loan debt and soaring unemployment. But the financial industry cannot afford to ignore Gen Y, the generation of consumers born from 1979 to 1999. By […]

In Wake of NetSpend Buy, TSYS Calls Prepaid ‘Innovative Cornerstone’ for Emerging Payments (Feb. 20, 2013)

Feb. 20, 2013 In a deal that could alter the competitive landscape of the prepaid industry, payments processor TSYS yesterday announced plans to acquire GPR and payroll card provider NetSpend Corp. for $1.4 billion in cash. The purchase—characterized by TSYS as a “transformational event”—enhances the Columbus, Ga.-based firm’s role in the prepaid processing arena and […]