How Does Your Prepaid Card Rank?
Two reports ranking U.S. consumer prepaid cards were released in August. Find out which cards made the lists and why.
Two reports ranking U.S. consumer prepaid cards were released in August. Find out which cards made the lists and why.
Commonwealth Bank and Mastercard are working together to improve financial inclusion for Indonesian women with a focus on business owners.
GasBuddy, a smartphone app helping nearly 70 million drivers find the best gas prices, has unveiled Pay with GasBuddy, a new payment service in partnership with WEX that provides U.S. drivers with discounts.
Mastercard is bringing its contactless payments to Fitbit’s first smartwatch, Fitbit Ionic.
Prepaid cards and alias-based payments that rely on email or mobile phone numbers can offer students and colleges and universities significant benefits over traditional check disbursement of financial aid.
Get to know the SME lending specialist that’s challenging U.K. high street banks by providing zero percent interest when balances are paid in full within 37 days.
Hot on the heels of the round-up on 18 August, here’s another blockchain and Bitcoin report. Featuring D+H Corporation (now Finastra), Visa, BTCS and Blockchain Global. A patent filing frenzy seems to be occurring at present. Following on from Bank of America filing three new patents using blockchain earlier this month, we now have D+H […]
Plagued by delays, threatened by Congressional repeal and finally opened to further comment and changes, the CFPB’s final rule on prepaid accounts now has consumer groups calling for the bureau to “strengthen” consumer protections while a credit union trade group wants the rule rescinded.
Global payments service provider eMerchantPay has received authorization from the Financial Conduct Authority as an e-money institution, which means it can issue products including payouts, e-wallets and prepaid cards, and has joined the Prepaid International Forum.
Digiliti Money may be able to breathe a bit easier with a new acquisition offer on the table after a tumultuous few weeks.
The most popular digital wallet in Singapore has rolled out the first virtual Visa card in the country thanks to a partnership between global technology group and 2017 Pay Awards Change Agent of the Year Wirecard and Singtel.
Former financial ombudsman Walter Merricks is appealing the U.K.’s Competition Appeal Tribunal’s decision not to certify his claim in a proposed £14 billion (US$18.2 billion) class action lawsuit against Mastercard over interchange.
Home improvement chain Lowe’s has a new payments tool in its toolbox to help small businesses, contractors and construction professionals—a prepaid card and companion mobile app to manage business expenses.
Ben Jackson, who previously led Mercator Advisory Group’s prepaid advisory service, has joined the Network Branded Prepaid Card Association as chief operating officer.
Green Dot Corp. reported strong numbers for the quarter ended June 30, 2017, including a 140 percent increase in GAAP net income to $19.3 million, up from $8.0 million over Q2 2016.
Prepaid issuers should look to certain banked consumers, P2P and mobile wallet users to gain top-of-wallet status with a whole new set of customers.
Several major payments companies have released Q2 earnings, including The Bancorp, Discover, Mastercard and PayPal. Overall, payments volume is on the rise and partnerships are proving particularly important for PayPal, which has been on tear with recent strategic announcements.
Visa and Marqeta, the open API payment card issuing platform, have formed a multiyear, global partnership to “drive further innovations in commercial and consumer payments”. What’s more, Visa has made a strategic investment in Marqeta to support the company’s domestic and international growth. Initially, the partnership will involve expanding opportunities for virtual, physical and tokenised […]
It was a busy week for second- and fiscal third-quarter earnings reports, with American Express, Bank of America and Visa all beating Wall Street expectations, and Blackhawk Network, which also beat analyst predictions, talking international growth, double-digit digital gift card sales and new partner Target set to roll out in Q3.
Mastercard can breathe a sigh of relief as the £14 billion (US$18.15 billion) lawsuit—a collective action over card charges that were passed on to shoppers—has been stopped by the U.K.’s Competition Appeals Tribunal.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Less than two months following the initial announcement from partners Netspend, a TSYS Company, and United Airlines, the prepaid industry’s first air miles rewards card is now available online. Paybefore readers believe more prepaid providers will follow suit with air miles rewards of their own.
Mastercard has entered into an agreement to acquire Brighterion, a software company specialising in artificial intelligence (AI), reports Banking Technology‘s sister publication Paybefore. This acquisition follows Mastercard’s March acquisition of NuData Security and will further expand Mastercard’s capabilities to “deliver an enhanced customer experience and security”. Brighterion’s portfolio of AI and machine learning technologies provide real-time […]
The UK’s HM Treasury is banning surcharges on credit and debit card payments. For prepaid card providers, the new rules put significant fee income related to card-loading at risk, according to Polymath Consulting. Banking Technology‘s sister publication Paybefore reports that the HM Treasury is putting an end to “rip-off” fees related to paying with a […]
Mastercard has entered into an agreement to acquire Brighterion Inc., a software company specializing in artificial intelligence. This acquisition follows Masterdard’s March acquisition of NuData Security and will further expand Mastercard’s capabilities to “deliver an enhanced customer experience and security.”
Move over M-PESA, customers of a Visa-led bank partnership in Kenya will be able to send money to each other domestically without paying transaction fees using mVisa, and the payments network has added additional in-store merchant acceptance for the QR-code-based payment method.
American Express is the latest payments company to recognize the benefits of enabling virtual account numbers for business travel. The addition of virtual account numbers enables businesses to set usage dates and pre-authorize spending limits at the time of booking, helping reduce fraud and encourage compliance with company travel policies, Amex said.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
A whole swathe of fintech firms and challenger banks have been hit by tech issues – with card payments failing. The names include mobile-only challenger bank Monzo, Revolut, Starling Bank, Curve and payments start-up Fire. The problem is understood to be due to provider Global Processing Services (GPS), which as usual offers no updates on […]
Payments startups usually boast about their ability to future-proof their technology. For U.K. payments startup Curve, a big part of its appeal is helping users go back in time.
A handy round-up of who’s investing in what in the fintech space. Featuring Revolut, Tango Card and ClauseMatch.
Users of Moneymailme will have the option of using physical and virtual prepaid cards to make purchases with the funds in their e-wallets. The new feature, announced June 28 at the Money 20/20 Europe conference, is the result of a partnership between the London-based social money transfer provider Moneymailme and Prepaid Financial Services, a U.K.-based payments technology provider.
Consumers prefer to use P2P payments for retail purchases, paying back relatives and friends, and settling bills—but not so much for contributing to group gifts or paying housing costs, according to a new report from NerdWallet. It also found that that while only 35 percent of U.S. consumers use such P2P products as Venmo, PayPal and Square Cash, 63 percent are interested in the payment technology.
Investors continue to show strong interest in fintech-based payments services providers, as Visa acquires an equity share in fast-growing Swedish e-commerce specialist Klarna, and startups Revolut and Tango Card land significant financing rounds.
The CFPB receives more than 20,000 complaints every month, according to Director Richard Cordray, and the bureau’s latest installment of its Monthly Complaint Report highlights consumer complaints at the state level. As of June 1, the CFPB has received more than 1.2 million complaints across the country since it began accepting them in 2011. The top three states with the most complaints are California, Florida and Texas with 159,158, 111,559 and 93,472 complaints, respectively.
Visa is investing in Klarna, a Swedish payments and banking firm, and the two firms intend “to develop a future strategic partnership”.
Retail payments have taken another step into the future. Payment processor Payscout has launched a virtual reality system that employs Visa Checkout and enables consumers to examine products before ordering them for delivery to shoppers’ homes.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Curve and its all-cards-in-one Curve Mastercard and accompanying banking app apparently has struck a chord with small businesses and freelancers. More than 50,000 SMEs have signed up for the London-based startup’s program, which recorded £50 million (US$63.3 million) in user spending since the beta period began last year.
Mastercard and Western Union have teamed up to help refugees around the world access goods, services and financial services within refugee settlements. Announced on June 20—World Refugee Day—the partnership will explore ways to use a digital model to serve the more than 65 million people around the world currently displaced from their homes due to political conflict and natural disasters.