Industry veteran jumps ship to mobile operator payment venture
Weve, the advertising and commerce joint venture between mobile network operators Vodafone, O2 and EE, has hired payments industry veteran David Sear as its permanent chief executive.
Mobile
MCX Reveals Plans for Barcode-/Cloud-Based Approach (February 2013)
February 2013 By Kate Fitzgerald, Emerging Payments Editor The retailer-led mobile payment venture Merchant Customer Exchange (MCX) has disclosed little about the shape of its developing payment platform since it formed six months ago, but the few details emerging so far are fueling fresh waves of industry buzz. At a panel during the National […]
mPowa Strikes Deal with Portugal Telecom (Feb. 5, 2013)
Feb. 5, 2013 U.K.-based mobile payments provider mPowa has inked a white-label deal with Portugal Telecom Group that will enable the carrier to offer small businesses a card reader-based mobile payments service. Financial terms of the deal were not disclosed, but TechCrunch reports it was a multimillion-dollar pact with a seven-year term. The partnership opens […]
Mobile to dominate rise in retail bank IT spending
Further evidence that bank IT spending is growing again comes from industry analysts at Ovum, which is predicting overall growth of 3.4% among retail banks, reaching $118.6 billion in 2013, as they focus on “customer satisfaction and revenue growth”.
Report: State of the enterprise tablet market – the new age of mobile computing
The enterprise is experiencing massive changes as the major technology trends of cloud computing and tablets are intersecting to upset the balance of legacy computing environments.
CFPB Launches Inquiry on Campus Financial Products; Comments Due March 18 (Jan. 31, 2013)
Jan. 31, 2013 The Consumer Financial Protection Bureau (CFPB) today announced it has begun an inquiry into “the impact of financial products marketed to students through colleges and universities” to determine whether these products are “in the best interest” of students. Such products include student ID cards that double as debit cards and cards used […]
Banish Missed Trade Misery …
A study shows that 62% of City traders “admit to missing key investment or sell opportunities because they didn’t keep track of time zone differences”.
Merchant Group: Retailers Unlikely to Introduce Credit Card Surcharging (Jan. 30, 2013)
Jan. 30, 2013 Merchants across the U.S. are holding off on introducing a surcharge for Visa and MasterCard credit card transactions despite getting the green light to do so this week under the terms of a proposed settlement in the merchants’ antitrust case reached last November. The settlement, subject to final approval in a hearing […]
SALT Technology Raises $2 Million in Funding (Jan. 30, 2013)
Jan. 30, 2013 SALT Technology Inc., a San Francisco-based provider of a cloud-based mobile payments platform, has raised $2 million in financing from private investors with backgrounds in the mobile, financial and payments technology sectors. The company, which also has offices in London and Toronto, said it will use the new funding to accelerate the development […]
Report: PayPal, LevelUp, Starbucks, Google and Square Front-Runners in Mobile Wallet Race (Jan. 29, 2013)
Jan. 29, 2013 Mobile wallets are far from fully developed, but a handful are gaining an early edge on competitors based on ease of use and payment options, according to new analysis from Carlisle & Gallagher Consulting Group. The firm’s “Mobile Wallet Market Analysis” set out to analyze “apps for smartphones or tablets enabling consumers […]
Ingenico Eyes E-Commerce with Ogone Buy (Jan. 29, 2013)
Jan. 29, 2013 In a move POS terminal maker Ingenico said is part of its bid to become a “one-stop-shop” for multichannel payment solutions, the Paris-based company has entered a deal to acquire payment processor Ogone Partners for EUR360 million (US$485 million). Ingenico will incorporate Ogone’s 42,000-merchant online payments platform into its existing POS and […]
FreedomPay Launches ‘Vibe’ Mobile Wallet for Restaurants (Jan. 29, 2013)
Jan. 29, 2013 Adding to a growing array of mobile payments options for merchants, FreedomPay is entering the fray with “Vibe,” a mobile wallet initially targeting restaurant operators interested in creating targeted consumer promotions on the fly, based on specials, weather and in-store traffic conditions. The Radnor, Pa.-based payment processor says its cloud-based mobile wallet […]
Riding the payments roller-coaster
UK banks are still in “a difficult place” as they face economic uncertainty, increased cost and competitive pressures, complex regulations and rapid technological changes – but the changes that are happening in the payments industry offer scope for them to reclaim the initiative and deploy innovative solutions.
Paybefore Announces Winners, Opens Voting for Best in Category (Jan. 28, 2013)
Jan. 28, 2013 Paybefore today announced winners for the 2013 Paybefore Awards—the most prestigious recognition of excellence in the worldwide prepaid and emerging payments industry. And for the first time in the seven-year history of the awards, Paybefore is allowing visitors to Paybefore.com (subscribers and nonsubscribers) to cast their votes for Best in Category through Feb. […]
2103 Paybefore Awards Category 20: Breakout Prepaid Company of the Year
The organization that stood out from the crowd in 2012 to make a positive, game-changing difference in the prepaid/emerging payments environment in a geographic region or globally. May be a new or established organization. Company Name: American Express American Express is a global financial services company, providing customers with access to products, insights and experiences […]
2013 Paybefore Awards Category 15: Best Non-U.S.-Based Program
Best prepaid or emerging payments program launched and operated by a non-U.S. company outside the United States. Programs using a U.S.-based company for processing or similar support are eligible. Program Name: NuCard Prepaid CardCompany Name: Tutuka South Africa has a large microlending market that provides short-term, unsecured loans to millions of South Africans. NuCard was […]
2013 Paybefore Awards Category 8: Outstanding Mobile Wallet or Mobile Application
The in-market mobile wallet or mobile application that (1) provides end users with value-added features and/or enhances payment capabilities, user decision-making or loyalty and (2) provides retailers with a strong value proposition. Program Name: moneto Prepaid MasterCardCompany Names: DeviceFidelity, MasterCard With real-time balance and transaction history, free P2P money transfers, the only instant cash-back rewards […]
2013 Paybefore Awards Category 3A: Best General Purpose Reloadable Card Program-U.S. Solutions
Best use of a consumer-funded reloadable network branded prepaid card* for general use, such as ATM access and purchasing. Includes travel, remittance and youth-focused (including campus and student) programs; excludes payroll programs. Program Name: PayPal Prepaid MasterCardCompany Names: PayPal, MasterCard The PayPal Prepaid MasterCard is the only prepaid card that can link automatically to PayPal’s digital […]
Taiwan’s FTC Approves Mobile Payment Platform (Jan. 24, 2013)
Jan. 24, 2012 Mobile carriers around the world continue to join forces to enable mobile payments. On Jan. 23, Taiwan’s Fair Trade Commission (FTC) approved an application by five domestic mobile carriers and transit card provider EasyCard Corp. to jointly run a platform for mobile payment-related apps, according to the Central News Agency. Chunghwa Telecom […]
CGI in mobile alliance with Monitise
CGI, which recently acquired UK software house Logica, has formed a partnership with mobile banking and payment specialist Monetise to offer joint services for banking and payments companies using the Monitise platform.
Google Powers Digital Coupons with Zavers (Jan. 22, 2013)
Jan. 22, 2013 Google Inc. is adding digital muscle to coupons with Zavers by Google, a paperless couponing system introduced earlier this month that enables consumers to capture coupons online and redeem them automatically through store loyalty cards, tracking their deals through a computer browser or any mobile phone. The system is designed to give […]
Telefónica Deutschland to Launch NFC Pilot (Jan. 22, 2013)
Jan. 22, 2013 Munich-based Telefónica Deutschland in mid-February plans to enable P2P funds transfers between its mobile phone service subscribers along with a new NFC pilot that will launch at the same time in Germany. The effort grew out of the mpass mobile wallet service, announced last year as a joint venture between Telefónica Germany, […]
PayNearMe Targets Small Billers with New Cash Payment Service (Jan. 22, 2013)
Jan. 22, 2013 Cash transaction network PayNearMe is taking its payment services small-time in a move the company thinks will pay off in a big way. The Sunnyvale, Calif.-based firm, founded in 2009 and led by CEO Danny Shader, has launched PayNearMe Express, a self-service version of its existing cash payment system, aimed at enabling […]
Citi Launches Card Reader in India for Mobile Merchants (Jan. 21, 2013)
Jan. 21, 2013 As the U.S. and Western European markets for mobile card readers grow ever-more crowded, Citigroup is aiming to take a leadership position in mobile merchant acceptance in India. The bank this week announced what it describes as India’s first nationally distributed dongle, enabling merchants to accept credit and debit cards with a […]
BillFloat, payleven Land Nearly $30 Million in Funding (Jan. 21, 2013)
Jan. 21, 2013 A pair of payment startups have received cash infusions from investors totaling nearly $30 million. San Francisco-based BillFloat, which provides small-dollar loans to customers for electronic bill payments, landed $21 million from Investor Growth Capital (IGC), with participation from Bronze Investments and previous BillFoat investors Venrock, FirstRound Capital and Baseline Ventures. As […]
Fed’s Triennial Payments Study Will Include Fraud Info for First Time (Jan. 21, 2013)
Jan. 21, 2013 The Federal Reserve’s Retail Payments Office (RPO) last week announced it will be conducting its triennial study to determine the current volume and composition of electronic and check payments in the United States, with new attention on fraud metrics. “While the Federal Reserve’s 2013 Payments Study will continue to build upon trend […]
Trendy techs top CIO priority lists for 2013 says Gartner study
Faced with flatlining IT budgets, global CIOs must better exploit the business potential of technology to achieve results – currently they realise only 43% of that potential says Gartner. Top of the priority list is what the research firm calls ‘digital technologies’. In this it includes mobile, analytics, Big Data, social media networking and cloud, […]
Payments Council pushes mobile payments back another year
The UK Payments Council has announced that the introduction of its planned Mobile Payments Service has been pushed back until “spring 2014” – a year after its previously expected introduction, and two years after Barclays broke from the rest of the UK banks and launched its Pingit service. The delay comes despite commitments from financial […]
NCR Adds PayPal to Mobile Payment Menu for Restaurants, Retailers (Jan. 15, 2013)
Jan. 15, 2013 NCR Corp., eager to expand use of its mobile apps for restaurants and retailers, this week announced an agreement with PayPal Inc. designed to make it easier for consumers to manage their bills and pay for food using their smartphones when dining out. Duluth, Ga.-based NCR plans to integrate PayPal alongside credit […]
Savvis Deal Strengthens Mozido’s Cloud Infrastructure, Hosted IT Offerings (Jan. 15, 2013)
Jan. 15, 2013 Mozido LLC, an Austin, Texas-based startup providing cloud-based, white-label mobile payments services for banks and merchants, has signed a multiyear deal for access to the cloud infrastructure and hosted IT solutions of Savvis, a subsidiary of telecom CenturyLink. “By leveraging Savvis’ leading cloud and hosting infrastructure, we will enable customers in the […]
The irresistible rise of digital banking
The banking industry, integral to our commercial and personal lives, has always evolved with the times to embrace new challenges and consumer attitudes. Technology plays an obvious and increasingly important role in this evolution.
Boots on the Ground (January 2013)
January 2013 Experts on five markets—Brazil, France, Italy, Middle East and Russia—discuss how prepaid is developing where they’re doing business, as providers and consultants. By Loraine DeBonis, Editor-in-Chief Paybefore: How widely has prepaid been adopted in Brazil beyond the meal voucher market? Neissan Monadjem: The food voucher programs along with the mobile prepaid “card” vertical represent 80 […]
Viewpoint: Consolidation and Asset Extension
By Lee Britton, Prepaid Financial Services One of the great things about getting old is hearing new phrases defining old concepts. Chances are, by the time 2013 has been and gone, you’ll have come across the above phrase, specifically around payments or technology. But first, it’s important to recognize two apparently irreconcilable differences: What someone […]
MCX Will Start with Cloud/Barcode (Jan. 14, 2013)
Jan. 14, 2013 MCX executives and member merchants revealed a few more details about their plans for mobile payments during a panel at the National Retail Federation’s Annual Convention & EXPO in New York City today, including that its initial mobile payments solution will be primarily barcode- and cloud-based. The coalition of merchants, which announced formation […]
Payelp Partners with Qiwi for Reloadable Prepaid Visa Card in Eastern Europe (Jan. 14, 2013)
Jan. 14, 2013 Payelp Global, a Los Angeles-based e-commerce platform serving merchants via 300 different payment gateways worldwide, is expanding its services to include a reloadable virtual prepaid card for consumers in regions that lack broad credit and debit card penetration. The offering builds on Payelp’s existing partnership with Moscow-based Qiwi Ltd., which recently introduced […]
Boku Earns E-Money License in Europe (Jan. 14, 2013)
Jan. 14, 2013 San Francisco-based mobile direct carrier biller Boku has received an e-money license for its European payments platform. Boku said the approval from the U.K.’s Financial Services Authority will enable the company to expand its platform in Europe. Currently operating in more than 65 countries, Boku has direct billing deals with about 250 […]
Consumer Attitudes on Mobile Banking Impact Mobile Commerce (January 2013)
January 2013 By Bill Grabarek, Senior Editor Financial institutions must combat persistent consumer indifference toward mobile banking in the United States if they want to see consumers move toward mobile commerce, according to a recent report by Javelin Strategy & Research. The research, which outlines financial services trends in 2013 as well as how […]
Mobile banking to hit 1 billion users by 2017
As uptake of mobile banking services is predicted to reach 1 billion by 2017, banks are starting to view the mobile channel as an indispensable revenue stream, according to Nitin Bhas, senior analyst at telecoms research firm Juniper Research.
Push for Pan-European Account Access Could Spur Prepaid Card Growth (Jan. 10, 2013)
Jan. 10, 2013 European banks and prepaid card marketers are weighing their options as they await word on a European Parliament initiative to guarantee all European Union citizens access to a payment account, according to observers. The push to bring payment services to all springs from a European Commission announcement in March 2012 that laid […]
U.S. Bank Launches NFC Payment Pilot in Salt Lake City, Portland (Jan. 10, 2013)
Jan. 10, 2013 Salt Lake City’s focus as a hotbed of NFC-based mobile payment intensified today as U.S. Bank announced the launch of its “Go Mobile” app enabling some of its credit card customers to convert their iPhones to an NFC payment device. Salt Lake City residents can now wave their phones to pay at […]
