Better ATM Services Expands Reseller Network in California (Jan. 14, 2014)
Better ATM Services today announced a reseller agreement with Advanced Network Inc., in which ANI becomes a member of Better ATM Services’ reseller network.
Payments
An Inside Look at the CFPB (Jan. 14, 2014)
As the payments industry awaits new rules on GPR prepaid cards set to be issued by the Consumer Financial Protection Bureau in May, an in-depth piece in Sunday’s Washington Post offers a fascinating look at the inner workings of the agency—and valuable insights into the CFPB’s origins, culture and motivations.
2013 Holiday Sales Tick Up in U.S. and Canada (Jan. 13, 2014)
The 2013 holiday shopping season generated brisk sales figures in the U.S. and Canada, according to newly released reports from both sides of the border.
Scope of Target Data Breach Widens; Neiman Marcus Also Hit (Jan. 13, 2014)
The scope of the data breach Target Corp. initially disclosed last month has expanded from 40 million credit and debit card customers to as many as 70 million more Target customers whose names, mailing addresses, phone numbers or emails may have been exposed, the retailer said on Jan. 10. The second set of data, which […]
RBC, Bell Wallet Now Live in Canada (Jan. 13, 2014)
Royal Bank of Canada and telecom provider Bell Canada have gone live with a mobile payment system that enables RBC customers to make purchases online and in stores using NFC-compatible smartphones over Bell’s mobile network.
Breaking News – Sen. Warner Introduces Bill Targeting Prepaid Card Fee Disclosures (Jan. 10, 2014)
Expected by the payments industry for weeks, U.S. Sen. Mark R. Warner (D-Va.) yesterday introduced a bill calling for banks to “more fully disclose the hidden fees often charged for the use” of prepaid cards.
Breaking News – Chase to Exit Corporate, Public Prepaid (Jan. 9, 2014)
JPMorgan Chase & Co. is seeking to exit the corporate and public prepaid sectors.
Breaking News – U.K.’s O2 Wallet Shuts Down after 18 Months (Jan. 9, 2014)
O2 Wallet, which made a splash when it launched in April 2012 as the U.K.’s first mobile wallet, is shutting down after just 18 months.
PayPal in Asia Launches ‘mo.bi.pay’ Website Checkout Feature for SMBs (Jan. 9, 2014)
PayPal is making it easier for small and midsize businesses to add mobile payment capabilities to existing Websites with mo.bi.pay, a new service announced this week.
Sluggish Transition Leads to SEPA Deadline Extension (Jan. 9, 2014)
The European Commission today has announced a six-month grace period from the Feb. 1 migration deadline for electronic payments that don’t meet Single Euro Payments Area (SEPA) requirements.
Singapore Issues Bitcoin Tax Guidance (Jan. 9, 2014)
Another day, another government weighing in on the ongoing Bitcoin brouhaha.
Card Manufacturer TCT Lands £3.2 Million Infusion to Grow Operations (Jan. 9, 2014)
Thames Card Technology Ltd. (TCT) has landed a capital infusion of £3.2 million (US$5.3 million) to expand its operations.
Industry Views: Trends and Resolutions for 2014 (Part 1 of 2)
To kick off 2014, we asked payments industry thought leaders in the U.S. and Europe to reflect on the year that turned out not to be the “Year of NFC” and to look ahead at what will dominate prepaid and emerging payments for the next 12 months. We also asked them what the industry’s New Year’s resolutions should be.
Industry Views: Trends and Resolutions for 2014 (Part 2 of 2)
Industry thought leaders weigh in on priorities for 2014.
HSBC targets online commerce with FX conversion for retailers
HSBC has rolled out a service that will allow online retailers to give customers the choice to pay in various international currencies.
Senate Confirms Yellen as Next Fed Chief (Jan. 7, 2014)
The U.S. Senate on Monday confirmed Janet Yellen as chairman of the Federal Reserve, succeeding Ben Bernanke, whose term expires Jan. 31, after eight years in that post.
Report: Smartphone, Tablet Sales to Top $700 Billion in 2018 (Jan. 7, 2014)
Mobile payments via smartphones and tablets are set to surge over the next few years, reaching $707 billion worldwide in 2018, according to a new report by Juniper Research.
Industry Groups Release Latest SEPA Standardization Requirements (Jan. 7, 2014)
The European Payments Council (EPC), which represents the European banking industry in relation to payments, and the Cards Stakeholders Group (CSG), which represents retailers, vendors, processors, card schemes and the EPC, have published the latest version of the Single Euro Payments Area (SEPA) Cards Standardisation Volume.
Executive profile: One on One with Mark Schatz, Stored Value Solutions
When he can’t sleep at 2 a.m., Mark Schatz, managing director of Stored Value Solutions, will get up and run eight miles. Akin to a phoenix, running invokes renewed clarity that supports his mission in managing one of the companies that gave birth to the closed-loop gift card industry.
Spurred By Zynga Acceptance Plan, Bitcoin Tops $1K Mark (Jan. 6, 2014)
Zynga Inc., the maker of popular social media games like FarmVille, has announced it will begin accepting Bitcoin as payment for in-game virtual goods.
RBI: Lack of Bank, Telecom Cooperation Holding Back Mobile Banking in India (Jan. 6, 2014)
The uptake of mobile banking in India has been hampered by a lack of cooperation between banks and telecoms, among other issues, according to a report by the Reserve Bank of India.
Spindle Closes Yowza!! Deal Combining M-Payments with Couponing (Jan. 6, 2014)
Mobile payments tech company Spindle Inc. today announced it’s closed a deal to buy Yowza!!, a Los Angeles-based mobile couponing platform, adding some scale to Spindle’s service.
Companies on the Move: Fiserv Inc., Industry Accolades
Fiserv Inc., a Brookfield, Wis.-based financial services technology provider, recently announced that Mobiliti from Fiserv received the highest score for a customizable solution in the Javelin Strategy & Research 2013-2014 Mobile Banking Vendor Scorecard.
Companies on the Move: Stinson Leonard Street LLP, Merger Completed
Law firm Stinson Leonard Street LLP officially launched, completing a merger between Stinson Morrison Hecker and Leonard, Street and Deinard that was initially announced Sept. 23, 2013.
Companies on the Move: TSYS, The Civic 50 Recognition
TSYS, a Columbus, Ga.-based processor, has been recognized as one of America’s most community-minded companies in The Civic 50, an annual initiative that identifies and recognizes companies for their commitment to improve the quality of life in the communities where they do business.
Starbucks Gift Card Makes its Debut in China (Jan. 3, 2014)
Starbucks Corp. is introducing its gift cards in China, the company announced today, as it begins a significant expansion of its stores in the burgeoning gift card market.
Let the Appeals Begin; NRF Files Against Interchange Settlement (Jan. 3, 2014)
The National Retail Federation formally has appealed a $5.7 billion settlement with MasterCard and Visa over credit card interchange fees, opening the next phase of a long-running legal dispute between merchants and the payment card networks.
A Blow to Bitcoin in India as Exchanges Suspend Operations (Jan. 3, 2014)
Several of India’s largest Bitcoin exchanges have shuttered after the country’s central bank issued a statement last week warning of the risks of virtual currencies.
In Wake of Target Breach, Calls for Enhanced Data Security (Jan. 2, 2014)
As the fallout continues from a data breach at Target retail stores that may have exposed millions of shoppers’ financial information, politicians and business groups are lobbying lawmakers to investigate the matter and crack down on security weaknesses that could lead to similar incidents.
Amazon, DoubleBeam Divide GoPago’s M-POS Assets (Jan. 2, 2014)
Could 2014 bring a wave of m-POS consolidation? That trend springs to mind as details emerge about the sale of m-POS startup GoPago, a rising star launched in 2009 that secured a $25 million investment from JPMorgan Chase & Co. less than a year ago.
European Central Bank Launches New Board, Replacing SEPA Council (Jan. 2, 2014)
The European Central Bank has created a new board, replacing the Single Euro Payments Area (SEPA) Council, the ECB says will encourage development of an “integrated, innovative and competitive market” for retail payments in euro currency in the European Union.
Editor’s Letter: Starting Off the New Year Right
Now that you’re back in the office and once again glued to your computer screen, you’ll continue receiving the industry news, insights and analysis you’ve come to expect from Paybefore. But it won’t exactly be business as usual for Paybefore this year.
Breaking News: Sen. Menendez Introduces Prepaid Card Bill (Dec. 20, 2013)
Most folks this week are concentrating on tracking down last-second gifts or holiday dinner menu items. Not U.S. Sen. Robert Menendez (D-N.J.). He is, again, looking to “rein in hidden fees and strengthen financial protections offered by prepaid card companies” with new legislation announced today.
PayPal Buys StackMob in Latest ‘Talent Buy’ (Dec. 19, 2013)
PayPal’s acquisition this week of StackMob, which provides a mobile payments development platform, is the latest in a series of deals bringing in top talent and new technology to enhance payment options PayPal offers to its diverse array of customers.
Survey: Millennials Clamoring for Gift Cards this Holiday Season (Dec. 19, 2013)
Gift cards are a hot item on millennials’ wishlists this year.
Chinese Bitcoin Exchange Forced to Stop Accepting Deposits in Local Currency (Dec. 19, 2013)
Reinforcing Bitcoin’s reputation for volatility, the value of the digital currency nosedived more than 35 percent Wednesday following word that BTC China, one of the country’s largest Bitcoin exchanges, was forced to stop accepting deposits in the Chinese currency renminbi.
Target Data Breach Latest Sign It’s High Time for EMV (Dec. 19, 2013)
A breach of data that may have exposed the financial information of 40 million shoppers at Target stores highlights the urgency of bolstering payment card security measures and adopting EMV chip technology, according to industry observers.
MasterCard takes controlling stake in mobile remittance service
MasterCard has teamed up with mobile payment solutions provider eServGlobal and Belgacom’s carrier services unit BICS to extend the capabilities of their international mobile remittance platform HomeSend. The three firms have set up a joint venture which uses the HomeSend platform, in which MasterCard will have a controlling share.
Bank of America goes with Earthport for global low-value payments
Bank of America Merrill Lynch has signed a multi-year agreement with Earthport to “significantly expand Bank of America Merrill Lynch’s low value clearing capabilities globally, and to advance the efficiency of its high volume, low value payments”.
Blog: Prepaid Program Potential: 3 Steps Banks Must Take to Engage Millennials
To attract the key millennial demographic, banks must look to prepaid and mobile.
