News


Debit Rewards Provider PerkStreet to Shut Down (Aug. 13, 2013)

Aug. 13, 2013 PerkStreet Financial, a Boston-based cash-back debit rewards provider, has announced it will shutter its services next month, citing a lack of financing along with regulatory restrictions that limited its ability to compete. In a notice posted on the company’s Website, PerkStreet said it will cease business operations on Sept. 26 and will […]

Study: Gen Y Using Mobile among Other Methods to Pay Bills (Aug. 13, 2013)

Aug. 13, 2013 Although Generation Y consumers, ages 18 to 34 years old, pay bills using a mobile device more than other generations, Gen Y consumers still prefer to have  other bill payment options, according to a recent Western Union Co. study. More than 30 percent of Gen Y respondents reported paying a bill using […]

Prepaid Card User Snapshot: Who They Are, How to Reach Them (Spring 2013)

By Bill Grabarek, Senior Editor Acxiom consumer data shed light on current and future prepaid customers. Industry experts estimate that prepaid—despite its exponential growth—has barely made a dent in reaching underbanked consumers. And evidence suggests that targeting younger consumers also might be fertile ground for providers looking to grow their portfolios. To help providers better […]

One American in three uses mobile banking

One in three US adults now uses mobile banking in their day to day lives– a rise of almost double since 2011, according to new research from the US Pew Research Centre.

Hong Kong Exchange installs MarketPrizm DMA

Hong Kong Exchanges and Clearing has connected its equity and derivatives markets to MarketPrizm, a market data and infrastructure service targeted at low-latency trading firms.

New GMEX derivatives exchange plans global conquest

An international derivatives market called Global Markets Exchange Group International has been launched by co-founders Hirander Misra and Vj Angelo, in a bid to target new business opportunities created by changing financial regulation.

Isis Links with Amex’s Serve; Expands Chase Connection (Aug. 12, 2013)

Aug. 12, 2013 American Express Co.’s prepaid brand Serve will get a slot in the Isis mobile wallet when the mobile commerce venture rolls out nationally later this year, which could boost Serve’s awareness among its intended audience of underbanked consumers. Today JPMorgan Chase & Co. also said it plans to expand its relationship with […]

PayPal Unveils Facial Verification for In-Store Payments (Aug. 12, 2013)

Aug. 12, 2013 Shoppers in the London borough of Richmond now can use their photos to verify their identity when making in-store purchases with PayPal’s mobile app. A new pilot in the company’s U.K. home base enables a user to find nearby shops and restaurants that accept PayPal, then check in by clicking on the […]

Google Wallet Removing NFC Loyalty, Gift Redemption (Aug. 12, 2013)

Aug. 12, 2013 Google is discontinuing NFC redemption for gift and loyalty cards stored in Google Wallet. Late last week, the company sent an email to users who had added gift or loyalty cards to their Wallet app, saying NFC redemption of such cards will end on Aug. 21. Cardholders have until that date to […]

SpendTrend: Consumer Spending Growth Hits 12-Month High (Aug. 12, 2013)

Aug. 12, 2013 A long Fourth of July weekend and warm, dry weather throughout much of the U.S., among other factors, contributed to strong consumer spending last month, according to the latest SpendTrend data released by First Data Corp., an Atlanta-based payments processor. Dollar volume growth in July increased 7.7 percent year over year, compared […]

Azerbaijan mobile wallet makes debut

Azerbaijan card processing company AzeriCard has partnered with software firm OpenWay to create a mobile wallet that helps Azerbaijanis to withdraw cash from ATMs using a mobile phone and transfer money without using a bank card.

NFC: Yes, No or Maybe?

Industry experts air their opinions in the ongoing debate about whether NFC will dominate mobile payments.  By Kate Fitzgerald, Emerging Payments Editor  From the moment near field communication (NFC) popped onto the payments industry radar about a decade ago, debate has sizzled around if, when and how it could revolutionize payments—adding a powerful stream of […]

Botswana Orange Money Customers Gain Visa Mobile Payments (Aug. 8, 2013)

Aug. 8, 2013 Visa Inc. this week announced the deployment in Botswana of Visa Mobile Prepaid, its product designed to convert closed-loop mobile payment ventures in emerging nations to open-loop capabilities. Through Visa’s partnership with mobile network operator Orange, Botswana’s Orange Money subscribers now may withdraw funds at ATMs and make POS or online purchases, […]

Cardtronics Grows in U.K., Enters Germany with $153 Million Deal (Aug. 8, 2013)

Aug. 8, 2013 Houston-based ATM operator Cardtronics Inc. is expanding its presence in the U.K. and entering the German market with the $153 million purchase of British ATM operator Cardpoint Ltd. In the U.K., Cardpoint operates more than 7,100 ATM locations under the name Cashzone, while the company’s German ATM network numbers 800 machines. Combined […]

U.S. Judge Rules Bitcoin Is Currency (Aug. 8, 2013)

Aug. 8, 2013 A federal judge ruled that Bitcoin, a decentralized virtual currency, is a form of money. U.S. Magistrate Judge Amos L. Mazzant’s decision this week is part of a charge levied by the U.S. Securities and Exchange Commission against Trendon Shavers for allegedly defrauding investors of approximately $150,000 worth of bitcoins in a […]

New PreCash Platform Aims to Fix ‘Broken’ Online Bill Pay Experience (Aug. 8, 2013)

Aug. 8, 2013 Payments processor PreCash has unveiled a new virtual payments platform the Houston company says will help fix the “broken” consumer online and mobile bill payment experience. Dubbed PreCash PayConnect, the new platform is built on PreCash’s cloud-based processing system and offers mobile and online payment for more than 10,000 service providers, including […]

Visa Europe hires Huss as new chief executive

Visa Europe has appointed Nicolas Huss as its new president and chief executive. Huss will join Visa Europe from investment management firm Apollo Group, where he is chief executive for credit card and customer servicing business Avant Spain and Ireland.