People on the Move: Andy Nicholas, Citi (February 2013)

February 2013 Citi recently appointed Andy Nicholas head of commercial and prepaid card sales and account management EMEA to lead an experienced team charged with ensuring success and client satisfaction. Nicholas, who is based in the U.K., has been with Citi for 20 years, and has been responsible for commercial card sales and account management […]

People on the Move: Jerry Garcia and Mike McCarthy, Cardtronics Inc. (February 2013)

February 2013 Retail ATM network Cardtronics Inc. has announced that Jerry Garcia is transitioning from his role as chief information officer to the newly created position of chief information security officer. Garcia, who spent the last 10 years designing and developing the information technology systems Cardtronics uses to run its business, now will focus exclusively […]

CFPB Launches Inquiry on Campus Financial Products; Comments Due March 18 (Jan. 31, 2013)

Jan. 31, 2013 The Consumer Financial Protection Bureau (CFPB) today announced it has begun an inquiry into “the impact of financial products marketed to students through colleges and universities” to determine whether these products are “in the best interest” of students. Such products include student ID cards that double as debit cards and cards used […]

FIS Pays $120 Million for Mobile Payments Specialist mFoundry (Jan. 31, 2013)

Jan. 31, 2013 In a move intended to deepen its mobile payments offerings, banking and payments technology expert Fidelity National Information Services (FIS) today said it will pay $120 million to acquire mFoundry, the mobile banking app firm that helped devise Starbucks’ vaunted mobile payments operation, among others. The transaction will give FIS the remaining […]

Western Union Expands Remittance Card Program, Offers Tax Refund GPR (Jan. 31, 2013)

Jan. 31, 2013 Money transfer and global financial services provider Western Union Co. has expanded its Receive remittance card to Costa Rica and Guatemala. Initially launched in El Salvador last June, Receive enables recipients of Western Union money transfers to put all or part of the transferred funds onto a MasterCard-branded prepaid card. The company […]

Earnings Roundup: Facebook, First Data, MasterCard (Jan. 31, 2013)

Jan. 31, 2013 Social media giant Facebook Inc. closed out its first calendar year as a public company with $1.59 billion in fourth-quarter revenue, up 40 percent from $1.13 billion in 2011’s fourth quarter, with the improvement spurred mainly by a surge in mobile ad revenue. The proportion of Facebook’s advertising revenue from mobile devices […]

NCLC Study Shows Improvements in State Unemployment Cards (Jan. 30, 2013)

Jan. 30, 2013 State unemployment recipients who receive their benefits on prepaid cards are saving millions due to lower fees and improved services, according to a new report by the National Consumer Law Center (NCLC). The results of the agency’s 2013 Survey of Unemployment Prepaid Cards were an improvement over the NCLC’s 2011 study, which […]

Citi, Visa Launch Prepaid Card in Philippines (Jan. 30, 2013)

Jan. 30, 2013 Citigroup Inc. and Visa Inc. are joining forces in the Philippines to launch the new Pag-IBIG Citi Prepaid Card, which could reach as many as 13 million Filipinos through its link to the nation’s social security program. The reloadable Visa card is available to all citizens who belong to the Philippine government’s […]

Merchant Group: Retailers Unlikely to Introduce Credit Card Surcharging (Jan. 30, 2013)

Jan. 30, 2013 Merchants across the U.S. are holding off on introducing a surcharge for Visa and MasterCard credit card transactions despite getting the green light to do so this week under the terms of a proposed settlement in the merchants’ antitrust case reached last November. The settlement, subject to final approval in a hearing […]

GiftYa Raises $1 Million to Develop Patented Gift Credit System (Jan. 30, 2013)

Jan. 30, 2013 GiftYa LLC, a mobile and digital gift credit platform and spinoff company of parent LLC, has received $1 million of seed capital to develop the GiftYa platform. The $1 million investment comes from Jason Wolfe, founder of and CEO of Wolfe LLC. GiftYa, which will be available online and as […]

SALT Technology Raises $2 Million in Funding (Jan. 30, 2013)

Jan. 30, 2013 SALT Technology Inc., a San Francisco-based provider of a cloud-based mobile payments platform, has raised $2 million in financing from private investors with backgrounds in the mobile, financial and payments technology sectors. The company, which also has offices in London and Toronto, said it will use the new funding to accelerate the development […]

Intuit Nabs Facebook-Based Commerce Platform Payvment (Jan. 29, 2013)

Jan. 29, 2013 Software maker Intuit Inc. has acquired Facebook e-commerce platform Payvment, taking over the Palo Alto, Calif., company’s employees, technology and patents—but not its customers. In a note posted on its Website yesterday, Payvment announced that its team was “joining a new company” and that the platform—which enables retailers to create their own […]

Ingenico Eyes E-Commerce with Ogone Buy (Jan. 29, 2013)

Jan. 29, 2013 In a move POS terminal maker Ingenico said is part of its bid to become a “one-stop-shop” for multichannel payment solutions, the Paris-based company has entered a deal to acquire payment processor Ogone Partners for EUR360 million (US$485 million). Ingenico will incorporate Ogone’s 42,000-merchant online payments platform into its existing POS and […]

FreedomPay Launches ‘Vibe’ Mobile Wallet for Restaurants (Jan. 29, 2013)

Jan. 29, 2013 Adding to a growing array of mobile payments options for merchants, FreedomPay is entering the fray with “Vibe,” a mobile wallet initially targeting restaurant operators interested in creating targeted consumer promotions on the fly, based on specials, weather and in-store traffic conditions. The Radnor, Pa.-based payment processor says its cloud-based mobile wallet […]

Riding the payments roller-coaster

UK banks are still in “a difficult place” as they face economic uncertainty, increased cost and competitive pressures, complex regulations and rapid technological changes – but the changes that are happening in the payments industry offer scope for them to reclaim the initiative and deploy innovative solutions.

Paybefore Announces Winners, Opens Voting for Best in Category (Jan. 28, 2013)

Jan. 28, 2013 Paybefore today announced winners for the 2013 Paybefore Awards—the most prestigious recognition of excellence in the worldwide prepaid and emerging payments industry. And for the first time in the seven-year history of the awards, Paybefore is allowing visitors to (subscribers and nonsubscribers) to cast their votes for Best in Category through Feb. […]

2103 Paybefore Awards Category 20: Breakout Prepaid Company of the Year

The organization that stood out from the crowd in 2012 to make a positive, game-changing difference in the prepaid/emerging payments environment in a geographic region or globally. May be a new or established organization. Company Name: American Express American Express is a global financial services company, providing customers with access to products, insights and experiences […]

2013 Paybefore Awards Category 15: Best Non-U.S.-Based Program

Best prepaid or emerging payments program launched and operated by a non-U.S. company outside the United States. Programs using a U.S.-based company for processing or similar support are eligible. Program Name: NuCard Prepaid CardCompany Name: Tutuka South Africa has a large microlending market that provides short-term, unsecured loans to millions of South Africans. NuCard was […]