Reports: Prepaid Card Market Slows But Can Rebound (September 2013)
Prepaid card market growth slowed from 2011 to 2012 as a then-softening economy and compliance complexities finally caught up to the industry.
North America
Companies on the Move: Transaction Wireless, ACE Award (September 2013)
Transaction Wireless, a San Diego-based provider of cloud-based solutions for B2C and B2B gift cards, recently received the Incentive Gift Card Council’s ACE Award.
People on the Move: Brian Tordsen, Sunrise Banks (September 2013)
St. Paul, Minn.-based Sunrise Banks recently appointed Brian Tordsen executive vice president and director, national products group.
People on the Move: Lance Johnson, Sequent Software (September 2013)
Sequent Software, a Redwood City, Calif.-based Trusted Service Manager software and services platform provider, announced that Lance Johnson has joined the executive team as chief security officer.
People on the Move: Raja Rajamannar, MasterCard (September 2013)
MasterCard has named Raja Rajamannar chief marketing officer, effective Sept. 9, 2013.
Companies on the Move: FIS, Forbes Magazine’s “World’s 100 Most Innovative Companies” (September 2013)
FIS, a Jacksonville, Fla.-based payments technology provider, has been named by Forbes Magazine as one of the most innovative companies in the world.
People on the Move: Kathleen Ryan, Cheryl Parker Rose, Christopher Carroll and Elizabeth Ellis, Consumer Financial Protection Bureau (September 2013)
The Consumer Financial Protection Bureau recently named new senior staff in four divisions.
MCX Picks FIS to Develop M-Commerce Platform (August 2013)
July 11, 2013 Another major piece of MCX’s jigsaw puzzle fell into place today with the announcement that payments technology provider FIS will provide the payments processing platform, including transaction routing and settlement, for the retail consortium’s evolving mobile commerce system. Jacksonville, Fla.-based FIS will execute mobile payments at participating retailer outlets in combination with […]
Q&A with David Hunter, Ukash
Ukash recently has undertaken a slate of major new initiatives, expanding its Paybefore Award-winning platform to offer a full spectrum of services to cash-preferred consumers.
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.
Viewpoint: Our Role in Helping People Manage Their Money Successfully (August 2013)
It’s time for the prepaid industry to once again innovate by embracing next-generation processing technology and creating new tools that help people improve their financial behavior.
Viewpoint: A Win-Win Proposition: Savings on GPR Cards (August 2013)
Adding a savings tool to GPR cards drives usage and retention and helps cardholders get ahead.
People on the Move: Stephen R. Crowley, WEX Inc. (August 2013)
WEX Inc., a South Portland, Maine-based provider of corporate payment solutions (formerly Wright Express), announced that Stephen R. Crowley has joined the company as chief information officer and senior vice president, shared services.
People on the Move: Ryan Anderson, The Members Group (August 2013)
The Members Group, a Des Moines, Iowa-based card processing and payment solutions provider, has chosen Ryan Anderson to fill the newly created position of vice president of product.
People on the Move: Rory Smith, Ovation Incentives (August 2013)
Ovation Incentives, a U.K.-based B2B incentive program provider, has appointed Rory Smith head of its U.S. office in Chicago.
People on the Move: Ezediashi Ofili and Marcus Mak, MasterCard (August 2013)
MasterCard has appointed Ezediashi Ofili vice president and business leader to drive growth of its prepaid business in sub-Saharan Africa. MasterCard also appointed Marcus Mak head of merchant marketing for the company’s Asia-Pacific, Middle East & Africa region.
Companies on the Move: InComm Digital Solutions, formerly Giftango (August 2013)
Giftango, a digital gifting solutions provider and wholly owned subsidiary of InComm, announced it now operates under the name InComm Digital Solutions.
People on the Move: Amit Parikh, Discover (August 2013)
Discover Financial Services has a new head of prepaid, Amit Parikh, who is responsible for overseeing prepaid sales and relationship management.
People on the Move: Neil Peretz, BillFloat (August 2013)
San Francisco-based BillFloat, which provides small-dollar loans to customers for electronic bill payments, recently announced that Neil Peretz has joined the company as general counsel.
Jos Schmitt returns to build new Canada exchange
Former Alpha ATS chief Jos Schmitt is planning a new stock exchange for Canada, to be called Aequitas Exchange, which will take on incumbent TMX Group.
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.
Kearny Federal Savings Bank installs Fiserv mobile banking tools
US-based Kearny Federal Savings Bank has chosen to install bank processing and mobile payments technology from specialist firm Fiserv, which it says will help the bank increase efficiency and attract new customers.
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 […]
Industry Views: Card Manufacturers Talk EMV (Pay Magazine, Spring 2013)
Although the network EMV liability shift is about two years out, card manufacturers already are consulting with their U.S. issuing clients to help them make decisions now about how they will approach the transition to EMV.
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.
Judge Rules in Favor of Merchants, Strikes Down Fed’s Interchange Rule (August 2013)
A U.S. District Judge in Washington, D.C., ruled that the Federal Reserve Board overreached in its interchange and network routing rulemaking. If upheld, the decision will have huge consequences for issuers, program managers and other payments stakeholders.
Bloomberg rolls out US swap execution facility
Bloomberg has received approval to launch a Swap Execution Facility, ahead of the compliance deadline for new US Dodd-Frank rules for clearing of OTC derivatives.
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.
Innovators’ Spotlight: Waspit Group Inc
With an evolved platform and new B2B focus, NYC firm is making a buzz in “Engagement Banking”.
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 […]
Vantiv Gets Recognized, Recognizes Future of Commerce (July 2013)
One of Forbes’ “Fastest-Growing Tech Companies,” Vantiv talks about its growth since becoming independent and how it sees the payments landscape transforming.
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.
DTCC promises Omgeo acquisition will “open up new opportunities”
US post-trade utility the DTCC has agreed to acquire post-trade specialist firm Omgeo, in a deal that it says will help improve collaboration between investment managers, broker-dealers and custodian banks and reduce risk for market participants.
