North America

Goldman Sachs trading error is “a warning to all”

Financial industry analysts have warned that investors should be careful about how they approach automated trading, following news that a trading error at Goldman Sachs lost the firm $100 million on Tuesday.

Canada’s Desjardins financial cooperative pushes NFC offering

Canada is seeing a fresh push to promote near field communication (NFC) services after Canadian cooperative financial group Desjardin signed a deal with mobile money solutions provider Monitise and a joint venture with the nation’s three largest mobile operators.

Prepaid Card User Snapshot: Who They Are, How to Reach Them (Spring 2013)

By Bill Grabarek, Senior Editor Acxiom consumer data shed light on current and future prepaid customers. Industry experts estimate that prepaid—despite its exponential growth—has barely made a dent in reaching underbanked consumers. And evidence suggests that targeting younger consumers also might be fertile ground for providers looking to grow their portfolios. To help providers better […]

One American in three uses mobile banking

One in three US adults now uses mobile banking in their day to day lives– a rise of almost double since 2011, according to new research from the US Pew Research Centre.

NFC: Yes, No or Maybe?

Industry experts air their opinions in the ongoing debate about whether NFC will dominate mobile payments.  By Kate Fitzgerald, Emerging Payments Editor  From the moment near field communication (NFC) popped onto the payments industry radar about a decade ago, debate has sizzled around if, when and how it could revolutionize payments—adding a powerful stream of […]

PayPal partners with MoneyGram for cash withdrawal

PayPal users can withdraw money from their accounts and pick up the funds via money transfer company MoneyGram, following a deal between the two US firms that also will see PayPal customers loading funds into their accounts via MoneyGram by the end of the year.

Nasdaq FinQloud financial cloud expands with Jordan & Jordan

US consulting, market data and technology firm Jordan & Jordan has chosen to launch its execution compliance and surveillance service on Nasdaq OMX FinQloud, the cloud computing platform built for financial services and powered by Amazon Web Services.

Survey: AML, OFAC Compliance Costs Rising for FIs Worldwide (July 2013)

By Kate Fitzgerald, Emerging Payments Editor  The cost of complying with anti-money laundering (AML) rules and requirements is rising, just as the expansion of related anti-bribery and corruption laws around the world is placing unique new demands on global financial organizations, according to a new survey. International banks are devoting more personnel, departmental resources and […]

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

July 2013 Ian Horsted has been awarded the “U.S. Recruiting Network, South Dakota, Top Producer” for the second quarter of 2013, according to R&P Group, a Sioux Falls, S.D.-based payment industry recruiting firm. Over the last seven years, Horsted has become a key partner at R&P as he identifies, evaluates and recruits potential candidates for […]

People on the Move: Raj Date, Prosper Marketplace Inc. (July 2013)

July 2013 Prosper Marketplace Inc., parent company of peer-to-peer lending marketplace Prosper Funding LLC, has announced that  Raj Date, former deputy director of the Consumer Financial Protection Bureau, has joined its board. Date is currently managing partner at Fenway Summer, a consumer finance advisory and investment firm based in Washington D.C. Before joining the federal […]

People on the Move: W. Alexander Hoffmann, MoneyGram International (July 2013)

July 2013 MoneyGram International has announced that W. Alexander Hoffmann has been appointed to the global money transfer company’s executive leadership team as senior vice president, global product management and emerging channels. He will lead MoneyGram’s global product portfolio, emerging channels and MoneyGram Online. He has 20 years of experience in payments and cards, online […]

People on the Move: Michael Kirk, Enacomm Inc. (July 2013)

July 2013 Enacomm Inc., a Tulsa, Okla.-based provider of voice processing infrastructure, applications and services, has announced that Michael Kirk will join the company as vice president of business development, channels and alliances. An IT and services veteran, Kirk has more than 25 years of experience with sales, sales management and business development for IVR, […]

People on the Move: Kurt Weiss and Conrad Sheehan, C-SAM (July 2013)

July 2013 C-SAM, a Chicago-based provider of mobile transactions technology, has announced that Kurt Weiss and Conrad Sheehan have joined the company as managing director of global financial institutions and vice president and general manager of strategic initiatives, respectively. Weiss will work closely with financial institutions and networks deploying C-SAM’s mobile transaction platform, which enables […]

Viewpoint: A Closer Look at Choosing an HSA Administrator (July 2013)

Employers looking at consumer-directed health care plans with HSAs tend to pick providers based on one or two administrative details, but they really need to dig into what kind of benefit experience employees will get. The quality of that interaction can make all the difference, and yield happy, engaged employees.

People on the Move: Ivo Weevers, Virtual Piggy Inc. (July 2013)

July 2013 Virtual Piggy Inc., a Hermosa Beach, Calif.-based provider of e-commerce solutions enabling children to manage and spend money within a parent-controlled environment, has appointed Ivo Weevers creative director, mobile design, to lead and manage the mobile consumer experience team. He has 15 years of experience creating highly successful mobile, Web, device and desktop […]

People on the Move: Executive Promotions, TSYS (July 2013)

July 2013 TSYS, a Columbus, Ga.-based processor, has announced executive promotions and additions to its senior management group. Gaylon Jowers Jr. has been appointed senior executive vice president. He also serves as president of TSYS’s international services segment. Jowers has held leadership roles in which he was responsible for the company’s debit, prepaid, loyalty, debt […]

People on the Move: Shazia Manus, The Members Group (July 2013)

July 2013 The Members Group (TMG), a Des Moines, Iowa-based card processing and payment solutions provider, announced that CEO Shazia Manus has been appointed to serve a one-year term on the Credit Union National Association’s (CUNA) Payments Policy Subcommittee. The CUNA Payments Policy Subcommittee monitors, reviews and makes recommendations to the organization’s Governmental Affairs Committee […]

People on the Move: Eric Thiegs, National Gift Card Corp. (July 2013)

July 2013 National Gift Card Corp. (NGC)—an Elgin, Ill.-based marketer and supplier of gift cards for use in loyalty, incentive and rewards programs—has appointed Eric Thiegs senior vice president, business development. He is a 15-year veteran of the partnership marketing, member benefits, loyalty and rewards arenas, and he will be responsible for leading the company’s […]

People on the Move: Laura Patterson, LifeWork Search (July 2013)

July 2013 LifeWork Search, a staffing firm with offices in Massachusetts and Florida, recently announced that Laura Patterson has joined the company’s executive search team, leading the compliance, fraud and risk department. Patterson has more than 15 years of experience in technical sales and account cultivation. Her merchant services career started in 2002 with American Express, […]

1 + 1 = $1 Trillion in Card Payments: The Gold Rush for Micro and Small Business (July 2013)

The surge in new mPOS tools and e-commerce options for micro and small businesses represents a significant growth opportunity to a diverse array of payments industry players. By Kate Fitzgerald, Emerging Payments Editor  Local dog-sitters, dry cleaners and doughnut shops could become as important as gold nuggets to payments industry providers that recognize their potential […]

People on the Move: Guy Chiarello, First Data Corp. (July 2013)

July 2013 First Data Corp., an Atlanta-based payments processor, has appointed Guy Chiarello president. He will serve as a member of the management committee, and he will focus on innovation, product development and technological systems. Chiarello also will engage with customers and business leaders to create and enhance the many new solutions First Data plans […]

Companies on the Move: CPI Card Group, ICMA Élan Awards (July 2013)

July 2013 CPI Card Group, a Littleton, Colo.-based card producer, recently received several Élan Awards at the International Card Manufacturers Association (ICMA) annual meeting in Washington, D.C. The Élan Awards recognize innovative card designs, technologies and other criteria that establish the global vanguard for card manufacturing. CPI received the top honor in two categories: “Best Financial […]