People on the Move: Jon Sarvis, TMG Financial Services (November 2013)
Jon Sarvis has been named CEO of TMG Financial Services (TMGFS), a Des Moines, Iowa-based payments solutions provider.
Payments
People on the Move: Rich Pelikan and Mickey Goldwasser, Payveris (November 2013)
Payveris, a Wethersfield, Conn.-based online and mobile payments company, has expanded its executive leadership team with the addition of industry veterans Rich Pelikan and Mickey Goldwasser.
Starbucks Chief Exits Square’s Board; Coffee Giant Tests Digital Gratuity Feature (Oct. 31, 2013)
Starbucks, arguably the largest mobile payments operator in the world with its wildly popular closed-loop mobile app, grabbed attention late Wednesday with news that Starbucks CEO Howard Schultz has resigned from Square Inc.’s board after 15 months.
Mercator Forecast: Prepaid Growth Expected to Slide (Oct. 31, 2013)
Growth of the open- and closed-loop prepaid card markets will be slower than previous years as the industry weathers a stubbornly sluggish economy and regulatory uncertainty, according to Mercator Advisory Group. Total loads on open-loop cards, which include GPR, payroll, open-loop gift and unemployment benefits, will drop from a previously forecasted 21 percent compound annual […]
Mobile Payments Startup Loop Goes to School (Oct. 31, 2013)
Mobile POS payment startup LoopPay Inc. is getting out of the gate fast, inking a deal to distribute its dongle-based mobile wallet to college students through marketing and payments provider Campus Nation Network (CNN).
Report: Mobile Bill Pay Has $2.1 Trillion in Potential (Oct. 31, 2013)
More than 12.5 million Americans already are taking advantage of mobile bill payments, but the untapped potential of the market could be worth $2.1 trillion, according to a new report from Javelin Strategy & Research. That’s the total amount Javelin estimates Americans spend annually on seven essential bill types: open-loop credit cards, store-branded credit cards, […]
Viewpoint: The EC Payments Package: Will It Create a More Integrated and Efficient European Payments Market? (October 2013)
Clear and effective legislation could result in a beneficial change for business. An unclear and ineffective one would result in another obstacle to a “further integrated and efficient European payments market,” which the commission has set as the first objective the Payments Package should achieve.
Docomo Continues NFC Push with Global PayPass Deal (Oct. 29, 2013)
Japanese mobile telecom provider NTT Docomo is partnering with MasterCard to enable users of Docomo’s iD mobile wallet to make contactless purchases at 1.2 million MasterCard PayPass acceptance locations worldwide.
First Data Acquires Perka, Reports Increase in Third-Quarter Earnings (Oct. 29, 2013)
First Data Corp., an Atlanta-based payments processor, has acquired Perka, provider of a mobile marketing and consumer loyalty platform enabling small to midsize merchants to better engage with customers through location-based smartphone apps. Perka will continue to operate autonomously as an entrepreneurial company led by its current management and product development team, according to an […]
U.S. Bank to Roll Out Mobile Balance Transfer, Corporate Travel Tool (Oct. 29, 2013)
U.S. Bank next month will roll out Mobile Photo Balance Transfer, a feature from Mitek Systems enabling customers to apply for a credit card balance transfer by snapping a photo of a credit card bill with a smartphone and sending it to the bank. Standard credit card approval processes apply. The new service rounds out […]
Report: Incentive Programs Motivate Workers to Go Extra Mile (Oct. 29, 2013)
Workers are highly motivated by rewards and inventive programs provided by their employers, with nearly three-quarters of employees saying they would put in extra effort to earn rewards, according to a new study from U.K. payment provider Ixaris. The company’s 2013 Study of Rewards and Incentives polled 4,800 workers in the U.S., U.S., Canada, France […]
Citi signs up for SAP cloud-based corporate-to-bank solution
Cloud computing company SAP has signed a deal with Citibank for a major new cloud platform that promises to simplify corporate to bank connectivity for some of the world’s largest banks, Banking Technology has learned.
PayPal Inks Deal with Kenyan Bank; CFPB Investigates Bill Me Later (Oct. 28, 2013)
PayPal on Oct. 25 announced a new partnership with Kenya’s Equity Bank to link local merchants with the global online marketplace. Kenya’s e-commerce operators for the first time will be able to hold proceeds from online sales in a local bank account where they may receive payments in 26 different currencies, which are automatically converted […]
House Dems Propose Pair of AML Measures (Oct. 28, 2013)
Two House Democrats have proposed measures to crack down on money laundering by deterring the use of shell corporations and giving regulators the authority to hold bank executives accountable for misconduct taking place on their watch. The first bill, proposed by Rep. Maxine Waters (D-Calif.), would strengthen the government’s ability to charge individuals with violations […]
First Bitcoin ATM to Go Live; South African Bitcoin Exchange Acquired (Oct. 28, 2013)
A coffee shop in Vancouver, British Columbia, will be home this week to what some are hailing as the world’s first Bitcoin ATM, which can exchange cash for the controversial digital currency.
EU High Court Weighs in on Austrian Mobile Surcharge Case (Oct. 28, 2013)
A law prohibiting surcharges on certain types of payments should apply to mobile carriers, an adviser to the EU’s Court of Justice told the Austrian Supreme Court, which is currently deliberating an appeal by T-Mobile after the carrier’s surcharges were ruled illegal by lower Austrian courts. The case stems from a lawsuit filed by a […]
Clear2Pay scotches sale story
Clear2Pay, the Brussels-based payments systems company, says that selling the company “is not part” of its current plans.
Cooperative Bank of Kenya fuels African expansion with Misys core banking tools
Cooperative Bank of Kenya has implemented Misys BankFusion, a core banking platform which the bank says has helped it increase its transaction processing by double and end of day processing by 40%.
Blackhawk, PayPal Join on Digital, Physical Cards (Oct. 24, 2013)
A pair of payments industry heavy-hitters is banding together, with prepaid provider Blackhawk Network announcing that its electronic gift cards will be accessible within the PayPal mobile app. Meanwhile, the partnership gives PayPal yet another foothold in the physical payments space, bringing PayPal’s reloadable GPR prepaid card to Blackhawk’s extensive retail distribution network. “Our collaboration […]
Fed White Paper Explores PayPerks’ Prepaid Benefits Card Literacy Program, Effects (Oct. 24, 2013)
The Federal Reserve Bank of Philadelphia’s Payment Cards Center this week unveiled a white paper analyzing the effects of sweepstakes-based financial literacy programs New York-based PayPerks developed to help educate unbanked and underbanked consumers using prepaid government benefits cards. The 26-page paper, “Driving Positive Behavior Change Through Education and Motivation: Summary of a PayPerks Workshop,” […]
Ingo Money’s MDC Service with Visa Prepaid Goes Live (Oct. 24, 2013)
Oct. 24, 2013 Mobile deposit capture took a big step toward mainstream adoption in the prepaid industry with the announcement this week that Ingo Money Inc.’s mobile deposit capture pilot with Visa, which began last year, is officially out of beta. Ingo Money’s service enables consumers to deposit checks into their Visa Prepaid card accounts by […]
Ahead of Remittance Rule, CFPB Outlines Examination Procedures, Unveils Online Tool (Oct. 24, 2013)
With new regulations on remittance transfers set to take effect next week, the CFPB laid out its standards for examining companies covered by the rules. In Jan. 2012, the CFPB issued its final rule outlining remittance regulations as set by the Dodd-Frank Act. The rule was revised in May 2013 after complaints from industry participants […]
ECB Cautions against Last-Minute SEPA Migration (Oct. 24, 2013)
The European Central Bank (ECB) is calling the next three months critical for stakeholders still needing to migrate to the Single Euro Payments Area (SEPA) for electronic payments transactions. The deadline for migration to SEPA credit transfer (SCT) and SEPA direct debit (SDD) schemes is Feb. 1, 2014. “Everybody has to be ready . . […]
Next Stop, Contactless (October 2013)
Amid big transit rollouts in Chicago and Salt Lake City, Las Vegas is getting in on the action with a new pilot program enabling transit riders to pay bus fares with a tap.
Walgreens Encourages Healthy Finances with GPR Card (October 2013)
Pharmacy giant will soon find out if its suite of financial services is just what the doctor ordered for the millions of unbanked and underbanked consumers in the U.S.
Money2020 Packs Punch with Big Numbers, Startups and Product Demos (October 2013)
Money2020 highlighted financial services technology innovation, as the biggest names from major payment companies, startups and investors convened to glimpse the future of payments.
Viewpoint: Let’s Make a Deal (October 2013)
Although retailers traditionally had balked at offering discounted gift cards, many are shifting strategies to keep up with consumer demand and are increasing overall sales.
Blackhawk Snaps Up InteliSpend (Oct. 22, 2013)
Blackhawk Network late Monday announced it plans to acquire InteliSpend Prepaid Solutions, a leader in corporate incentive cards and promotions, in an all-cash deal expected to close no later than next month. Blackhawk sought InteliSpend, a 2013 Paybefore Award winner, because of the “great synergies” that exist between Blackhawk’s own retail gift card partners and […]
Fiserv Unveils Multichannel E-Billing Platform (Oct. 22, 2013)
Financial services technology provider Fiserv has launched a new platform that enables small- and medium-size billers to send electronic bills and accept payments through multiple channels. Dubbed Biller Advantage, the platform targets companies that send between 2,000 and 500,000 bills a month, according to Brookfield, Wis.-based Fiserv. “Biller Advantage provides the functionality small- to mid-sized […]
Clinkle Tabs McCarthy as COO (Oct. 22, 2013)
Payments startup Clinkle Corp. already has landed some big name investors—and now the San Francisco-based company is filling out its executive team, announcing that former Netflix CFO Barry McCarthy will join Clinkle as COO. Established in 2011 by 22-year old Stanford grad Lucas Duplan, the company has been developing a payment app that reportedly will […]
FEXCO Acquires Mobile Payments Startup FLASHiZ (Oct. 22, 2013)
FEXCO, a provider of financial transaction processing, foreign exchange and outsourcing services based in Ireland, has acquired mobile payments and loyalty startup FLASHiZ, with BNP Paribas Personal Finance taking a minority shareholder stake in the Luxembourg-based company.
People on the Move: Pilar Aurrecoechea, Telefónica Digital (October 2013)
Telefónica Digital has hired Pilar Aurrecoechea as digital financial services director, reporting to Vivek Dev, CEO of digital services.
People on the Move: Michael Pirker and Michaela Unger, paysafecard.com Wertkarten AG (October 2013)
Austria-based paysafecard.com Wertkarten AG, provider of digital prepaid online payment solutions, has appointed Michael Pirker to the newly created position head of business development, and Michaela Unger has been appointed public relations and communication manager.
People on the Move: Grace Wang, Green Dot Corp. (October 2013)
Green Dot Corp. has named Grace Wang chief financial officer. She will report to CEO Steve Streit, and will assume her new role Nov. 18, 2013.
People on the Move: Ben Kaplan, CashStar Inc. (October 2013)
CashStar Inc., a Portland, Maine-based provider of digital gifting technology and Paybefore Award-winner, recently announced that Ben Kaplan has been named president and CEO.
MasterCard Inks Broad MasterPass Distribution Deal with Worldline (Oct. 21, 2013)
MasterCard’s MasterPass digital wallet service will become available to thousands of e-commerce merchants across 17 countries in Europe and Asia beginning next month, through a partnership with Paris-based payments provider Worldline.
Rio Latest City to Get NFC Transit Pilot (Oct. 21, 2013)
The global push toward NFC-based transit payments continues—this time in Rio de Janeiro, the site of a new pilot program enabling transit riders to tap mobile smartphones to pay on trains, buses and ferries.
Wonga Bolsters Payments Business by Nabbing German Provider (Oct. 21, 2013)
U.K.-based e-loan provider Wonga Group has struck a deal to acquire German online payments provider BillPay. The deal, financial terms of which were not disclosed, will create what Wonga called “one of Europe’s leading digital finance and payment systems businesses.” In addition to its home country of Germany, BillPay also operates its PayPal-like service in […]
NYC Commuters Can Pay Taxis with Amex Reward Points (Oct. 21, 2013)
American Express cardholders traveling by taxi in New York City now are able to pay their fares using membership reward points. The technology enabling this payment method began rolling out today to the more than 7,000 VeriFone Systems in-taxi devices. When customers reach their destination and choose to pay with credit, they will be prompted […]
Pan Am-Branded Travel Card to Take Flight (Oct. 21, 2013)
Payments processor and program manager TransCard will release a new prepaid travel card branded by Pan Am Brands, a division of Pan American World Airways. The card will feature the iconic name and logo of Pan Am, one of the largest international air carriers in the U.S. between 1927 and 1991. “We are excited to […]
