North America

Project Catalyst: A Collaborative Approach to Consumer Protection? (May 2013)

CFPB Invites ‘Innovative’ Companies to Share Consumer Data, Ideas to Help Shape Policies By Kate Fitzgerald, Emerging Payments Editor The Consumer Financial Protection Bureau (CFPB) since its formation in 2011 has generated great interest and, at times, controversy over its mission and leadership in its role of creating and enforcing federal financial services regulations. While […]

2013 Paybefore Awards: Best Non-U.S.-Based Program (May 2013)

 Best prepaid or emerging payments program launched and operated by a non-U.S. company outside the U.S. Best in Category: Power to Pay Program Power to Pay NFC tags for mobile phones were developed exclusively for IIT Bombay students and faculty and can be used at select campus outlets for day-to-day purchases via the RuPay payments […]

2013 Paybefore Awards: Best Consumer Value (May 2013)

The prepaid or emerging payments program that delivers the best consumer value proposition for the combination of features, functionality, service and price. Best-in-Category: BlackboardPay An open-loop, FDIC-insured prepaid account that can be integrated with a student ID card to facilitate disbursement of financial aid and student payroll, and providing access to 50,000-plus surcharge-free ATMs, free […]

2013 Paybefore Awards: Best Retail Merchandising (May 2013)

Best use of in-store merchandising to promote the sale, use and acceptance of prepaid cards and/or emerging payments products. Best-in-Category: Green Dot Retail Marketing  Comprehensive program of permanent and promotional merchandising that enabled smaller chains to participate, drove significant ROI and addressed cardholder behavior, such as usage and retention. Green Dot Corporation     Left […]

Viewpoint: Loyalty, Not Payments, Is the Real Mobile Opportunity (Spring 2013)

By Jai Holtz, Sears Financial Services (Member of MCX) There’s no denying that years of hype around mobile payments is beginning to translate into real interest and action from retailers, but the trend has a lot less to do with the actual act of paying than is widely assumed. There are numerous benefits to being […]

People on the Move: Martin Wong and Marcella Butler, Think Finance (May 2013 )

Think Finance, a Fort Worth, Texas-based developer of financial products for underbanked consumers, has named Martin Wong as the company’s first chief integrity officer. He will oversee the company’s compliance with all state and federal laws and will be responsible for ensuring Think Finance offers clear, transparent and fair products in the industry. Wong joins […]

People on the Move: Alex Petrov, Square Inc. (May 2013)

Square Inc., a San Francisco-based mobile payments company, has hired Alex Petrov as vice president of partnerships. His extensive background in retail, consumer products and payments will help drive strategic business development and customer acquisition, according to the company. He has served as vice president of consumer brands at Safeway, and as vice president of […]

People on the Move: Kim Petry, SpendSmart (May 2013)

Paybefore Award-winning SpendSmart (formerly BillMyParents), a San Diego-based provider of payment solutions targeted to teens, young adults and their parents, has appointed Kim Petry chief financial officer. Previously, Petry was vice president and chief financial officer, global corporate/commercial card, at American Express. Prior to American Express, she served as a vice president at TIAA-CREF Life […]

People on the Move: Ian Horsted, R&P Group (May 2013)

R&P Group, a Sioux Falls, S.D.-based payments industry recruiting firm, has announced that Ian Horsted, vice president of recruiting, has earned the U.S. Recruiting Network Top Producer Award for Q1 2013. In the past three years, Horsted has received this distinction more times than any other recruiter in the region, according to the company. He leads the […]

People on the Move: Alan Safahi, OpenCoin Advisory Board (May 2013)

Alan Safahi, founder and CEO of ZipZap Inc., a San Francisco-based cash payment network for online financial services and e-commerce transactions, has been named to the advisory board of OpenCoin, creator of the open-source currency platform Ripple. With nearly 30 years of hands-on experience in the IT, telecommunications and financial services industries, Safahi has created […]

People on the Move: Andrew Buckley, MasterCard (May 2013)

MasterCard has appointed Andrew Buckley head of commercial products for Europe. Based in London, he will be responsible for leading the commercial team in Europe and delivering advanced commercial payments solutions to small businesses and large corporations and their employees. Prior to joining MasterCard, Buckley served as vice president for global corporate card product management at American Express, […]

People on the Move: Frank Bisignano and Ed Labry, First Data Corp. (May 2013)

The board of directors of First Data Corp., an Atlanta-based payments processor, has named Frank Bisignano CEO. He also joins the First Data board of directors. Bisignano most recently served as co-chief operating officer of JPMorgan Chase, where his responsibilities included overseeing global technology, real estate, operations, procurement, compliance, regulatory control and oversight, resiliency, security […]

People on the Move: Andrew Dodge, eGifter (May 2013)

Social and mobile gifting company eGifter, has hired Andrew Dodge as vice president of sales. He will focus on driving demand among retailers and payment channel partners for the eGifter platform, which enables retailers to add social gifting, group gifting and mobile delivery of e-gift cards to their own Websites, fan pages and mobile apps. Dodge […]

People on the Move: Rob von Behren, Braintree Inc. (May 2013)

Braintree Inc., a Chicago-based e-commerce payments processor, has announced that Rob von Behren has joined the company as lead engineer for its San Francisco office. He will help to advance Braintree’s position in mobile commerce, including its one-touch mobile payment solution Venmo. A long-time systems engineer, von Behren has deep experience in distributed computation, high-performance […]

MTS plans move on US fixed income markets

MTS, the European electronic fixed income marketplace majority owned by the London Stock Exchange, plans to open a platform for US institutional investors, allowing them direct access for the first time.

CFPB: Gift Card Issuers Must Honor Cards after Funds Escheat to State (May 2013)

The Consumer Financial Protection Bureau (CFPB) recently published a final determination regarding whether the unclaimed property laws of Maine and Tennessee relating to unredeemed gift cards are inconsistent with and preempted by the gift card provisions of the Electronic Fund Transfer Act and Regulation E. In its ruling, the CFPB determined that Maine’s unclaimed property […]

FINRA appoints di Florio to curb risk

The US Financial Industry Regulatory Authority has appointed Carlo di Florio as executive vice president, risk and strategy. In his new role, di Florio will lead FINRA’s office of risk, emerging regulatory issues, enterprise risk management and strategy.

Dodd-Frank 1073 amendments ease bank fears

Banks can breathe a sigh of relief following the publication of amendments to US Dodd-Frank Rule 1073 today, which should allay fears that draconian regulation was about to stifle cross-border payments.

People on the Move: Hugh Meadows, UMB Financial Corp. (May 2013)

UMB Financial Corp., a Kansas City, Mo.-based financial services holding company, has announced that Hugh Meadows has joined UMB as vice president, debit/prepaid card product manager for health care services. He is responsible for executing strategy and driving growth to UMB prepaid and debit card portfolios through new sales and expanding existing business. He also […]

People on the Move: Sunrise Banks, Best for the World List (May 2013)

B Lab’s 2013 Best for the World List, which acknowledges companies creating the most positive overall social and environmental impact, has recognized St. Paul, Minn.-based Sunrise Banks. The bank invests in projects within inner-city neighborhoods, works closely with state and federal assistance programs and supports community development, among other philanthropies. B Lab is a nonprofit […]

People on the Move: Scott Goldthwaite, ROAM (May 2013)

ROAM, a Boston-based mobile commerce platform provider and Ingenico company, has appointed Scott Goldthwaite senior vice president of operations. His duties include ensuring that the firm’s operations and business processes are aligned with the rapidly evolving needs of its customers as they deploy mobile point-of-sale solutions. Goldthwaite previously served as a senior member of the […]

Condolences: Timothy Birk, Performance Benefits Inc. (May 2013)

The prepaid and emerging payments industry recently lost a highly respected 30-year veteran. Timothy Birk, CEO at Performance Benefits Inc., died in a car accident on April 14, 2013. Birk, 56, is survived by his wife, Sheri, her children, Brandt and Aidan, and his children, Luke, Olivia and Thomas with his first wife, LaDon. Birk […]

People on the Move: Nick Nayfack, Mercury Payment Systems (May 2013)

Mercury Payment Systems, a Durango, Colo.-based prepaid card processor, has announced that Nick Nayfack, director of product, accepted a seat on the Electronic Transactions Association’s (ETA) mobile payments committee. ETA is an international trade association for the payment processing industry. Nayfack will develop best practices in mobile commerce with industry peers to enable merchants and […]

People on the Move: Nick Holland, Javelin Strategy & Research (May 2013)

May 2013 Javelin Strategy & Research has hired Nick Holland as senior analyst of payments. He has spent the last decade focusing on the intersection of payments, mobile, retail and security, according to the company. His prior work includes Mercator Advisory Group, Pyramid Research, Aite Group and, most recently, Yankee Group’s Mobile Money Strategies practice. […]

People on the Move: Nick Holland, Javelin Strategy & Research (May 2013)

Javelin Strategy & Research has hired Nick Holland as senior analyst of payments. He has spent the last decade focusing on the intersection of payments, mobile, retail and security, according to the company. His prior work includes Mercator Advisory Group, Pyramid Research, Aite Group and, most recently, Yankee Group’s Mobile Money Strategies practice. Holland has […]

People on the Move: Steve Elefant, GoPago Inc. (May 2013)

GoPago Inc., a San Francisco-based provider of emerging mobile payments technology, has hired Steve Elefant as chief strategy officer, and he will be in charge of strategy and ISO partnerships. Elefant has more than 25 years of experience in overall company strategy, products, end-to-end encryption, mobile, business development, and mergers and acquisitions. Most recently, he […]

People on the Move: Mike Delagrange, Galitt (May 2013)

Galitt, a French payments and electronic transactions consultancy, has appointed Mike Delagrange senior vice president and general manager of Galitt’s U.S. operations. He will be responsible for positioning Galitt’s success in selling EMV, NFC and TSM consulting services throughout Europe to major companies in the U.S. Delagrange has more than 20 years of conventional and […]

Company on the Move: Accel, Fiserv Inc. (May 2013)

Fiserv Inc., a Brookfield, Wis.-based provider of financial services technology, has announced that its debit payments network, formerly known as ACCEL/Exchange, has a new name: Accel. The name reflects the network’s ability to accelerate funds transfers across retail, biller and social P2P payments, and positions the network within the Fiserv portfolio of payments capabilities to […]

People on the Move: Edward P. Gilligan, American Express (May 2013)

American Express Co. has promoted Edward P. Gilligan to president. Gilligan has served as vice chairman of American Express since 2007, when he was named head of a B2B group responsible for the company’s global relationships with merchants, corporations and bank partners. He joined the company in 1980, and he was named business unit president […]

People on the Move: Steve Paradine, Allied Payment Network (May 2013)

Allied Payment Network, a Fort Wayne, Ind.-based provider of online bill payment services to the financial industry, has announced that Steve Paradine, a financial industry sales veteran with more than 25 years of experience, has joined the company as its senior vice president of sales. His previous experience includes Fidelity National Information Services (FIS), where […]

US regulators seek huge budget increases to keep up with industry

It’s not just the banks that are struggling with the costs of regulation – so are the regulators. In the US. The Commodity Futures Trading Commission has requested a 52% budget hike to $315 million dollars – described by one of its own commissioners as “improbable and unsustainable”.