Host card emulation (HCE) unlocks the potential for NFC to expand mobile payments by making them more convenient and consumer-friendly, but developers must proceed with caution because of various security risks HCE poses, according to a new white paper from the Smart Card Alliance.
More than 575 million payment cards in the U.S. will be equipped with EMV chip security technology by the end of 2015, according to the latest projections from an industry group managing EMV implementation.
Payza, an online payment processing and e-wallet services provider, announced that customers in 190 countries can now buy bitcoins from their Payza account and then transfer the digital currency into their Bitcoin wallets.
Electronic gifting is growing in India, where retailers have adopted e-gifting to drive sales and increase brand awareness.
By Loraine DeBonis, Editor-in-Chief Options are exploding for prepaid cardholders with swipe, no-cost and mobile reloads making it easier than ever to spin cash into digital gold. Turning cash into an electronic form of payment is undergoing a bit of a renewal. With mobile deposit, unprecedented partnerships, free options and new uses for reload networks—from […]
Letter writing among U.S. lawmakers has been fast and furious lately as they try to influence how the U.S. Department of Education handles new rules governing universities’ and colleges’ arrangements with financial service providers that deliver financial aid dollars.
There’s a new player in the mPOS arena—and it’s a heavyweight.
Financial institutions looking to attract and retain small business customers can do so by beefing up their digital banking services, according to a new white paper from Fiserv.
Online payment voucher provider paysafecard has launched a new prepaid MasterCard, giving customers of the Vienna-based company a way to pay for offline purchases, as well.
FinCEN is urging financial institutions to foster a culture of compliance with Bank Secrecy Act/Anti-Money Laundering (BSA/AML) rules and has issued an advisory explaining how basic principles can strengthen compliance within organizations.
It isn’t just complaints about prepaid card products that the CFPB is trawling for.
The U.S. Postal Service (USPS) on Aug. 11 posted a net loss of $2 billion for the quarter ended June 30, 2014, compared with a net loss of $740 million for the same period a year ago, increasing pressure on the beleaguered organization to find new sources of revenue.
MasterCard and First Data Corp. today announced a partnership to extend MasterCard’s inControl product for managing card spending to First Data’s customers in Asia Pacific, to enhance their growing use of payments cards for e-commerce purchases.
The CFPB is focusing on universities in the Big Ten Conference to see if these schools, some of the largest in the U.S., have appropriately disclosed their agreements with financial institutions regarding the financial products they offer their students. “Making these agreements available for all financial products shows schools’ and companies’ commitment to transparency, helping […]
PayPal Inc.’s recent rebranding of its Bill Me Later service is part of an effort to bring credit more to the forefront of its business and continue its expansion into offline payments, according to the company.
Rumors of Twitter’s imminent entry into e-commerce got more fuel last week, when some users of the company’s Android app noticed a new “Payment & Shipping” option.
Growth in the volume of debit and credit card purchases in the UK continues to outstrip the growth in value as consumers use their cards more frequently for lower value payments. A threefold increase in contactless payments was a factor in the trend.
MetaBank has been released from its Consent Order by the Office of the Comptroller of the Currency (OCC), according to an announcement by the bank’s parent company, Meta Financial Group.
Capitalizing on its recent high-profile moves in the mobile banking space, Cachet Financial Solutions netted nearly $6 million in its Initial Public Offering last month.
Many mobile apps used for shopping don’t provide consumers with enough information before they download them to their smartphones, according to the FTC.
Paybefore typically confines discussions about state legislative and regulatory activity to the State Tracker section of Pay Gov. But after we published Pay Gov yesterday, Illinois passed a law that explicitly allows payroll cards in the state, subject to certain conditions.
Cross-border payments in the Eurozone have reached a milestone, with Aug. 1 marking the migration deadline for all credit and direct debit transfers to comply with Single Euro Payments Area (SEPA) requirements.
HCE moves payments credentials to the cloud, which could radically speed up mobile payments development. Analyst Sarah Grotta believes HCE also offers compelling leadership opportunities for prepaid card issuers.
Alibaba Group’s $7.5 billion empire lurks like a crocodile waiting to strike its next opportunity. What does the Chinese giant’s appetite mean for the worldwide payments industry?
FinTech developers, designers and entrepreneurs are being challenged to a 36-hour development tournament in the days leading up to this year’s of the Money20/20 event in Las Vegas in November.
Blackhawk Network today announced a partnership with U.K.-based Barclays Bank PLC to launch an e-gifting feature for Barclays’ Pingit mobile banking service, enabling consumers to purchase an e-gift for themselves or someone else using their mobile devices.
American Express has begun testing host card emulation (HCE) technology for mobile NFC payments at POS terminals in Croatia.
Debit card-initiated overdrafts are leading to disproportionate charges for cardholders, with fees often larger than the overdraft amount, according to a new report by the CFPB.
As consumers and merchants embrace card-not-present (CNP) transactions, such as online and mobile payments, the industry is looking for ways to further secure these channels.
Federal officials are warning retailers about a new form of malware that hackers could use to access POS systems and steal consumer data.
The CFPB has launched a program for low-to-moderate income consumers that includes counseling from national and local social services staff and a Website featuring financial education tools.
Square, the San Francisco-based mobile card reader provider, will be releasing a new card reader enabling merchants to use their mobile devices to accept payments from cards that are EMV-enabled.
U.S. merchant groups have banded together to call for open standards for tokenized payments, to be managed by an independent body.
Starbucks has racked up nearly 12 million active monthly users for its mobile app, which processes 6 million transactions a week—and the company is looking to build upon that success, according to CEO Howard Schultz.
CardCash.com, a Brick, N.J.-based marketplace for secondary gift cards, today announced it has acquired the assets of gift card exchange Website Plastic Jungle.
Financial institutions can capitalize now on mobile payments opportunities until the market for mobile payments at the POS matures, according to a white paper by Fiserv Inc., a Brookfield, Wis.-based financial services technology provider.
Amazon is seeking to expand its operations in India, and the e-retail giant is putting $2 billion toward that goal.
First Data has announced it will acquire digital gift card provider Gyft Inc.
Facebook is shuttering its electronic gift card service after nearly two years, shifting its focus to more recent e-commerce initiatives.
Blackhawk Network and Amazon today announced they are providing consumers with ways to spend and better manage their gift cards (from dozens of major retailers and restaurants) using the Amazon Wallet app.
