News


Boosting Gift Card Sales in the U.S. and Abroad (March 2013)

March 2013   By Bill Grabarek and Loraine DeBonis      Though much of the payments buzz at last week’s Prepaid Expo USA in Orlando, Fla., revolved around mobile and GPR products, closed-loop cards—whether it’s B2B or consumer gift cards—shouldn’t be ignored, according to several panelists who shared methods of maximizing sales, as well as challenges and […]

People on the Move: Ray Iglesias, Ubiquity Global Services (March 2013)

March 2013 Ubiquity Global Services recently announced that Ray Iglesias has joined the New York City-based business process outsourcing organization as CEO. Iglesias has a recognized track record in growing a number of successful companies. Most recently he helped manage the integration of payments technology company TxVia into Google. Prior to Google, Iglesias served as […]

People on the Move: Kevin Spector and Christian Krejcik, payvia Inc. (March 2013)

March 2013 payvia Inc., a Los Angeles-based mobile payments provider, has appointed Kevin Spector  senior vice president, global payments, and Christian Krejcik director of strategic sales. Spector previously served as CEO of Mobile First, an international mobile payments network acquired by payvia, and he has more than 18 years of digital media, finance and international […]

People on the Move: Sam Altman, Green Dot Corp. (March 2013)

March 2013 Prepaid issuer and program manager Green Dot Corp. recently announced the appointment of Sam Altman, Green Dot executive vice president of mobile products and strategy, to its board of directors. Green Dot’s board of directors is now comprised of eight members, and Altman will serve as a Class I director. He also is […]

Discover Partners with Nigerian Processor for Cross-Border Acceptance (March 12, 2013)

March 12, 2013 Discover Financial Services has agreed to a deal with Interswitch Limited, the largest integrated payments processor in Nigeria, to enable acceptance of Discover and Diners Club International cards at Interswitch-enabled ATMs and POS terminals throughout that country. The partnership will expand payment opportunities for Nigerians as well, giving holders of Nigeria’s Verve […]

PayPal Unveils New Developer Tools to ‘Streamline’ Mobile Payments (March 12, 2013)

March 12, 2013 PayPal has announced the release of new development tools that will enable third-party developers to streamline in-app payments, the company says. The new features include a mobile software development kit (SDK), JavaScript PayPal buttons that can be simply integrated into Websites, and new APIs for payments processing and settlement. In 2009, PayPal […]

First Data: Taxes, Weather Slow Consumer Spending in February (March 12, 2013)

March 12, 2013 Higher payroll taxes, federal tax refund delays, high gasoline prices and inclement weather that spanned much of the United States dampened consumer spending last month, according to the latest SpendTrend data released by First Data Corp., an Atlanta-based payments processor. Dollar volume growth slowed to 4.6 percent year-over-year compared to January’s growth […]

Sunrise Consolidates Separate Operations under New Banner (March 12, 2013)

March 12, 2013 Sunrise Community Banks is bringing its three separate local bank operations together under a single bank charter and will rebrand the enterprise as Sunrise Banks, effective April 1, 2013, the company announced this week. Under the new name, Franklin Bank, Park Midway Bank and prepaid issuer University Bank will merge into a […]

Austrian Gasoline Retailer Replaces Paper Vouchers with Gift Cards (March 12, 2013)

March 12, 2013 Ingenico, a Paris-based POS terminal maker, today announced that subsidiary easycash Loyalty Solutions has developed a gift card for gas station company JET Tankstellen Austria GmbH, enabling the Phillips 66 subsidiary to replace paper vouchers. Customers can use the card to pay for gas purchases at the more than 140 JET gas […]

Corporate clients concerned about stability of banking partners

The good news is that 63% of corporate executives are “highly satisfied” with the service they get from their core banking partners; the bad news is less than half of them are confident that their banks are stable and operating securely within their risk parameters. This is making them increasingly interested in the stability of […]

Fed Says No Plans to Alter Debit Interchange Limits (March 11, 2013)

March 11, 2013 The Federal Reserve Board last week said it has no plans to change its regulations on debit card interchange fee limits, despite outcry from retail and consumer groups that claim the limits are currently too high. The Fed issued its second biennial report on the debit card market—as required by Dodd-Frank—which surveyed card […]

FTC Takes Aim at Text Spammers, Issues Mobile Payment Report (March 11, 2013)

March 11, 2013 The Federal Trade Commission is setting its sights on the mobile sector. Late last week, the agency filed a series of lawsuits against accused senders of mobile marketing spam and released a report on mobile payments expressing concern over privacy, security and billing issues. The FTC filed eight complaints in courts around […]

Senate Committee Holds Hearing on BSA/AML Enforcement (March 11, 2013)

March 11, 2013 Government agencies must use their full enforcement authority to penalize institutions that run afoul of Bank Secrecy Act (BSA) requirements, especially with the advent of mobile payments, which present “huge potential” for fraud, said Sen. Mark Warner (D-Va.) during his summation of a hearing last week on BSA compliance. Warner added that […]

Competition and fair play dominate retail banking debate

Reforms to the UK’s retail banking industry will help bring greater competition and consumer choice – but more needs to be done, according to delegates at the Westminster Business Forum on the future of retail banking in London this week.

Barclays names new operations and technology chief

Barclays has appointed Shaygan Kheradpir to the new role of chief operations and technology officer.He will join the executive committee of Barclays and report directly to group chief executive Antony Jenkins.

USAA Bank enlists talking mobile banking app

US bank USAA Bank has adopted a mobile virtual assistant called Nina, developed by Nuance Communications, which lets customers interact with their bank account in novel ways that simulate a conversation with a real human.