Letter writing among U.S. lawmakers has been fast and furious lately as they try to influence how the U.S. Department of Education handles new rules governing universities’ and colleges’ arrangements with financial service providers that deliver financial aid dollars.
There’s a new player in the mPOS arena—and it’s a heavyweight.
Financial institutions looking to attract and retain small business customers can do so by beefing up their digital banking services, according to a new white paper from Fiserv.
Online payment voucher provider paysafecard has launched a new prepaid MasterCard, giving customers of the Vienna-based company a way to pay for offline purchases, as well.
Most capital markets firms are still not using big data and even those that do often lack a concerted strategy, according to a new report commissioned by Thomson Reuters.
FinCEN is urging financial institutions to foster a culture of compliance with Bank Secrecy Act/Anti-Money Laundering (BSA/AML) rules and has issued an advisory explaining how basic principles can strengthen compliance within organizations.
It isn’t just complaints about prepaid card products that the CFPB is trawling for.
The U.S. Postal Service (USPS) on Aug. 11 posted a net loss of $2 billion for the quarter ended June 30, 2014, compared with a net loss of $740 million for the same period a year ago, increasing pressure on the beleaguered organization to find new sources of revenue.
MasterCard and First Data Corp. today announced a partnership to extend MasterCard’s inControl product for managing card spending to First Data’s customers in Asia Pacific, to enhance their growing use of payments cards for e-commerce purchases.
New European rules that require banks, brokers and clients to report their daily market positions and collateral values to trade repositories came into effect yesterday. But European regulator ESMA made no clarification about models, leaving the question of how to report up to the market. That could cause problems, market participants have warned.
The CFPB is focusing on universities in the Big Ten Conference to see if these schools, some of the largest in the U.S., have appropriately disclosed their agreements with financial institutions regarding the financial products they offer their students. “Making these agreements available for all financial products shows schools’ and companies’ commitment to transparency, helping […]
PayPal Inc.’s recent rebranding of its Bill Me Later service is part of an effort to bring credit more to the forefront of its business and continue its expansion into offline payments, according to the company.
Rumors of Twitter’s imminent entry into e-commerce got more fuel last week, when some users of the company’s Android app noticed a new “Payment & Shipping” option.
Growth in the volume of debit and credit card purchases in the UK continues to outstrip the growth in value as consumers use their cards more frequently for lower value payments. A threefold increase in contactless payments was a factor in the trend.
MetaBank has been released from its Consent Order by the Office of the Comptroller of the Currency (OCC), according to an announcement by the bank’s parent company, Meta Financial Group.
Young Asian consumers on motorcycles want to be able to start a transaction while riding and finish it at an ATM. For many, that ability is about to become a reality as ASEAN banks switch to real time core banking systems.
Capitalizing on its recent high-profile moves in the mobile banking space, Cachet Financial Solutions netted nearly $6 million in its Initial Public Offering last month.
Many mobile apps used for shopping don’t provide consumers with enough information before they download them to their smartphones, according to the FTC.
Paybefore typically confines discussions about state legislative and regulatory activity to the State Tracker section of Pay Gov. But after we published Pay Gov yesterday, Illinois passed a law that explicitly allows payroll cards in the state, subject to certain conditions.
Cross-border payments in the Eurozone have reached a milestone, with Aug. 1 marking the migration deadline for all credit and direct debit transfers to comply with Single Euro Payments Area (SEPA) requirements.
FinTech developers, designers and entrepreneurs are being challenged to a 36-hour development tournament in the days leading up to this year’s of the Money20/20 event in Las Vegas in November.
Billtrust, a Hamilton, N.J.-based provider of outsourced billing services, has hired Tom Iler as chief information officer and Paul Wakolbinger as senior vice president of sales.
Andrew Copeman has joined Aite Group as an analyst on the retail banking team.
CARD.com, a mobile-focused financial product provider, has hired Josh Flowers as chief financial officer. The company also has promoted Dr. Ajaykumar Gopal to vice president of growth and data science from director of data science and analytics.
Littleton, Colo.-based card producer CPI Card Group announced that Mike Fisher has joined the company to lead its EMV Field Support Team, and he will provide guidance in the migration to EMV in the U.S for CPI’s customers.
Des Moines, Iowa-based payments processor The Members Group has appointed Melanie Barker chief operating officer and executive vice president.
Target Corp. announced that its board of directors has named 30-year retail and consumer products veteran Brian Cornell as the company’s next chairman of the board and CEO, effective Aug. 12, 2014.
The UK Government is to examine the potential of digital currencies as positive force in the wider economy and as a means of encouraging innovation in financial services.
Blackhawk Network today announced a partnership with U.K.-based Barclays Bank PLC to launch an e-gifting feature for Barclays’ Pingit mobile banking service, enabling consumers to purchase an e-gift for themselves or someone else using their mobile devices.
American Express has begun testing host card emulation (HCE) technology for mobile NFC payments at POS terminals in Croatia.
Debit card-initiated overdrafts are leading to disproportionate charges for cardholders, with fees often larger than the overdraft amount, according to a new report by the CFPB.
A Financial Conduct Authority investigation that found banks and brokers are failing to provide best execution highlights the need for more responsibility and education among their buy-side customers.
Federal officials are warning retailers about a new form of malware that hackers could use to access POS systems and steal consumer data.
The CFPB has launched a program for low-to-moderate income consumers that includes counseling from national and local social services staff and a Website featuring financial education tools.
Square, the San Francisco-based mobile card reader provider, will be releasing a new card reader enabling merchants to use their mobile devices to accept payments from cards that are EMV-enabled.
U.S. merchant groups have banded together to call for open standards for tokenized payments, to be managed by an independent body.
The rising volume of market data is comparable to the Cambrian Explosion in which the number of species on Earth dramatically increased around 542 million years ago. Banks will have to adjust to this deluge of data if they are to keep pace with aggressive new competitors.
Starbucks has racked up nearly 12 million active monthly users for its mobile app, which processes 6 million transactions a week—and the company is looking to build upon that success, according to CEO Howard Schultz.
CardCash.com, a Brick, N.J.-based marketplace for secondary gift cards, today announced it has acquired the assets of gift card exchange Website Plastic Jungle.
Financial institutions can capitalize now on mobile payments opportunities until the market for mobile payments at the POS matures, according to a white paper by Fiserv Inc., a Brookfield, Wis.-based financial services technology provider.
