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 […]

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, […]

Eurex inks FX deal with Moscow Exchange

German derivatives exchange Eurex has signed an agreement with Russia’s Moscow Exchange that will allow it to launch Euro-Russian Rouble and US Dollar/Russian Rouble FX futures in Q4 2013.

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 […]

PayPal Inks Deals with MICROS, Mercury Payment Systems (Aug. 22, 2013)

Aug. 22, 2013 MICROS Systems Inc. and PayPal Inc. this week announced a strategic global collaboration that will pave the way for thousands of restaurants and other hospitality industry businesses using MICROS’s payment platforms to add PayPal as a POS and mobile app payment option. MICROS, used in more than half a million businesses around the […]

Prepaid Card Facilitates Exchange of Traditional Currency to Bitcoins (Aug. 22, 2013)

Aug. 22, 2013 Bitcoin Ventures Inc. is aiming to make it easier for consumers to obtain and make transactions with Bitcoin virtual currency. The Calgary, Alberta-based software development company and provider of Bitcoin e-commerce solutions has announced CoinTap, a prepaid card the company says streamlines “an otherwise tricky and time-consuming process” of exchanging traditional currency […] Launches Affiliate Program for Online Publishers (Aug. 22, 2013)

Aug. 22, 2013 Online gift card provider has announced a new affiliate program that will enable online publishers and bloggers to earn revenue for referrals to the company’s gift and incentive card Websites. Affiliate e-publishers and bloggers will have access to banner graphics and text links for both and to help direct […]

MCX Picks FIS to Develop M-Commerce Platform (August 2013)

July 11, 2013 Another major piece of MCX’s jigsaw puzzle fell into place today with the announcement that payments technology provider FIS will provide the payments processing platform, including transaction routing and settlement, for the retail consortium’s evolving mobile commerce system. Jacksonville, Fla.-based FIS will execute mobile payments at participating retailer outlets in combination with […]

Isis Tightens Mobile Wallet Race with Serve Integration, Chase Commitment (August 2013)

By Kate Fitzgerald, Emerging Payments Editor  Isis, the mobile wallet system backed by AT&T Mobility, T-Mobile, Verizon and three major card networks, is gathering steam as it nears its national rollout, with a new co-branding effort with American Express Co.’s Serve payments platform providing the latest push forward. Amex earlier this month announced plans to […]

Goldman Sachs trading error is “a warning to all”

Financial industry analysts have warned that investors should be careful about how they approach automated trading, following news that a trading error at Goldman Sachs lost the firm $100 million on Tuesday.

Breaking News: Fed to Appeal Interchange Ruling (Aug. 21, 2013)

Aug. 21, 2013 Certainty on debit interchange and network routing regulation isn’t likely any time soon. The Federal Reserve Board of Governors has decided to appeal a judge’s ruling requiring the agency to rewrite those rules. During a hearing today in U.S. District Court in Washington, D.C., the Fed’s lead attorney, Scott Alvarez, said the […]

YellowPepper spices up Latin American mobile payments

A new mobile payments network called YellowPepper has launched in Colombia, marking the beginning of a massive project to bank the unbanked and sweep away the dominance of cash across the Spanish-speaking Americas.

Groupon Gets Physical, Adding Traditional POS to Merchant Offering (Aug. 20, 2013)

Aug. 20, 2013 Groupon bucked the mPOS system from the outset with its unique merchant pricing strategy, and its latest move to embrace traditional payment terminals seems equally novel as mainstream acquirers like Chase Paymentech are now getting into dongles. Groupon last week said it will add traditional credit card terminals to its merchant payments […]

MasterPass Adds 16 Australian Payment Providers (Aug. 20, 2013)

Aug. 20, 2013 Sixteen Australian payment service providers have added MasterCard’s MasterPass as a payment option for their electronic merchant clients. Announced at the Online Retailers and E-Commerce Expo in Sydney, the agreements brings MasterPass to thousands of online merchants, who will add a MasterPass button to their online checkout, enabling shoppers to make purchases […]

M-Payment Platform Targets Colombia’s Unbanked Mobile Users (Aug. 20, 2013)

Aug. 20, 2013 A mobile payments network aims to bring financial services to Colombia’s unbanked consumers and move the country’s economy away from cash. The Miami-based network, known as YellowPepper, thus far has signed up 12 Colombian banks for its system, which includes a virtual payment card, P2P and mPOS capability, according to a report […]

Payteller, IntelliVoice Sign Deal Expanding Prepaid Products at Self-Serve Kiosks (Aug. 20, 2013)

Aug. 20, 2013 IntelliVoice Networks Inc., a provider of prepaid phone services, is broadening its array of offerings through a deal with Payteller LLC, a Boca Raton, Fla.-based provider of self-service kiosks offering financial services. Payteller will install its kiosks in high-traffic retail locations throughout the Midwest and in Texas, according to an announcement. Payteller […]

BCS opens low-latency London to Moscow link

Russia’s BCS Prime Brokerage has launched an ultra-low latency data line between London and Moscow which it claims is the fastest trading connection yet built between the two cities.