BYNDL, Sprout Partner on M-Payments at Vending Machines (May 6, 2013)

Mobile transaction services company BYNDL Inc. has teamed up with Sprout Retail, a vending-focused consumer marketing firm, to deliver mobile payments, stored value, digital coupons and surveys to vending customers via mobile devices. Seattle-based startup BYNDL offers a “vending cloud,” which enables vending technology providers to offer their vending operator clients digital services to sell […]

Rabobank’s Inneke Bussemaker at IPS 2013

Rabobank’s Inneke Bussemaker talks about The Brave New World of Payments session she chaired at IPS 2013, taking a critical look at the future of how payments work in a world where corporates will have to adapt to a consumer-driven agenda.

Google Invests in P2P Loan Company, Rolls out Transit Card in Kenya (May 2, 2013)

Google made two moves to expand its role in financial services this week, investing in a P2P lending company and rolling out a contactless transit card in Kenya. Google acquired a minority stake in Lending Club, an online financial community that matches creditworthy borrowers with investors, providing an alternative to traditional banking with competitive loan […]

Discover: More than 50 Merchant Acquirers on Board for PayPal POS Acceptance (May 2, 2013)

Discover has signed deals with more than 50 merchant acquirers in the run-up toward implementing in-store acceptance of PayPal via Discover’s payment network. The agreements—which cover acquirers, including Heartland Payment Systems, TSYS and Vantiv—will enable PayPal acceptance at more than 2 million merchants by the end of this year, according to Discover. PayPal announced its […]

CFPB Sets Oct. 28 as Compliance Date for Revised Foreign Remittance-Transfer Rule (May 2, 2013)

The Consumer Financial Protection Bureau this week made some adjustments and extended by several months the effective date of final rules on international money transfers, ending a period of limbo for remittance-transfer providers. Oct. 28, 2013, is the new effective date for the CFPB’s revised final remittance rule affecting foreign remittances, amending Regulation E of […]

‘Action-Triggered’ Instant-Load Prepaid Card Latest Promo Tool from parago (May 2, 2013)

Consumers could have one more reason to redeem cash-based promotional offers if parago, a Lewisville, Texas-based incentive provider, succeeds with its new “action-triggered” prepaid card. Designed to increase response to direct mail and other promotional offers, the new offering enables marketers to send consumers a zero-balance prepaid card that marketers can instantly load with value […]

Now that’s what I call an offshore investment

Good news for those with a need for real-time financial market data at their salty fingertips while making crossing the world’s oceans: Thomson Reuters and Bloomberg services have both been benchmarked aboard ship in a proper offshore passage. Brighton-based Beacon Electronic Trading Solutions stress-tested the Thomson Reuters Eikon and Bloomberg Anywhere products on board the […]

Mobile is there for the taking …

Financial institutions have owned the commercial payment space for centuries, but are now seeing a threat to their incumbency from new technologies that have opened up the industry to other business sectors. Mobile transactions in particular are shaking-up banking.

People on the Move: Ukash, Queen’s Awards for Enterprise (May 2013)

For the third consecutive year, Ukash, a London-based prepaid voucher provider, has been honored by the Queen’s Awards for Enterprise for its contribution to international trade. The International Trade award recognizes U.K. businesses that have delivered substantial growth in overseas earnings and improved levels of commercial success globally. The award reinforces Ukash’s sustained commitment to […]

Discover’s Joe Hurley Talks PayPal, UnionPay and More (May 2013)

Joseph Hurley has been with Discover since 1985 when the then-small company with the big idea—cash-back rewards—got started. He has held positions in marketing, product management, government relations, and network products and services. From 2008-2010, Hurley was deputy president of Diners Club International, and from 2003-2008 he served as head of global client relations and vice president […]

Diplomacy needed to secure London’s future as a financial centre

A difficult future for the banking industry, but a potentially great one for London as a financial centre, was predicted by Sir John Gieve, chairman of VocaLink and former deputy governor of the Bank of England, speaking at the opening of Swift’s Business Forum in London today. But the industry must be careful and diplomatic if it wants to have any real say in how the future is shaped.

Ukash Inks Funds-Transfer Deal with MoneyGram (April 30, 2013)

London-based prepaid voucher specialist Ukash is extending the reach of its services further with a new deal announced this week with MoneyGram. The alliance will enable Ukash customers to send funds from the Ukash Website to recipients at any MoneyGram outlet worldwide. The service will launch in the U.K. later this year, with plans to […]

Tango Card, ZooZ, GoCardless Raise Investment Capital (April 30, 2013)

Several payment startups have reported funding rounds in recent days, among them are, Tango Card, ZooZ and GoCardless. Tango Card, a Seattle-based provider of a multipurpose gift card that can be used to buy closed-loop gift cards from national retailers, donate to charity or cash out remaining balances, this week announced a $4.1 million series […]

Mobile Commerce Surges in Netherlands (April 30, 2013)

Mobile commerce in the Netherlands reached EUR560 million (US$748 million) in 2012, or 6 percent of all online spending volume during the year, according to a report from industry group Thuiswinkel. The number of Dutch consumers who made a purchase via mobile device during the second half of 2012 was 1.7 million, up a whopping […]

Survey: More Perks, Relief from Security Fears Key to Boosting Mobile Payments (April 30, 2013)

Giving consumers preferential customer service treatment and instant discounts for paying with their smartphones could help boost mobile payment usage, a new Accenture survey suggests. In a broad survey of 4,000 U.S. and Canadian consumers conducted online last year, half of respondents already using their smartphones for payments said they would be more likely to […]

Swift sees expanding role as facilitator for industry collaboration

As delegates gather for the third Business Forum organised by Swift in London this week, issues on the global impact of regulation and the banking industry’s response to it are more pressing than ever Perhaps equally pertinent to the conference – the largest event Swift organises aside from the annual Sibos conference and exhibition, with […]

Dermot Turing, Clifford Chance, at International Payments 2013

Dermot Turing, partner at Clifford Chance, told the IPS conference that regulators are hampering innovation by making it hard for the industry to collaborate though application of competition law. He advocates that banks – particularly from the transaction and payments world – should be educating the regulators in order to get better regulations.

Javelin: Mobile POS Could Lead to $1.1 Trillion in New Card Payments (April 29, 2013)

The rising prevalence of mobile POS systems could result in up to $1.1 trillion in additional card payments per year and increase payment card acceptance by as many as 20 million merchants, according to a new report by Javelin Strategy & Research. Mobile POS systems like Square, PayPal Here, SpotPay and iZettle, which have become popular […]

Bill to ‘Level’ Playing Field for Online, In-Store Retailers Gains Support in U.S. Senate (April 29, 2013)

Brick-and-mortar retailers are cheering the U.S. Senate’s support of proposed legislation that would prevent some online and catalog merchants from selling goods without collecting sales tax, which traditional retailers say would level the playing field as in-store, online and mobile sales channels converge. The U.S. Senate on May 6 will vote on the Marketplace Fairness […]

TSYS Tools Enable International Shoppers to Compare Prices in Different Currencies (April 29, 2013)

Cross-border shopping could become more convenient with a pair of new services from TSYS that display transactions in multiple currencies, along with the daily exchange rate, so consumers can decide which currency they prefer to pay with before making in-store or online purchases. Through a partnership with Planet Payment Inc., an international multicurrency payment processor, […]

Coinstar Rebrands as Outerwall (April 29, 2013)

In a move meant to embody the evolution of the company, automated retail provider Coinstar Inc. has announced plans to change its name to Outerwall Inc. The name change, which will be subject to shareholder vote in late June, reflects Coinstar’s growth “from a single coin-counting kiosk business into multiple automated retail businesses,” the Bellevue, […]

Blog: Digital/Mobile Payments and the Power of Social Media (April 2013)

By Hunny Huria, Visa At times I’m amazed how social media has changed our lives and continues to have potential to impact it more. There are innumerable people who start the day by checking their Facebook accounts. As of December 2012, Facebook had more than half a billion daily active users, and 9 million apps […]

Early Mobile ‘Wallet Wars’ Lessons Learned

Mobile wallets are still in the formative stage of their development but a few lessons already are emerging, according to certain payment industry players sharing their experiences this week at CARTES America in Las Vegas. Inventing new ways to pay using a smartphone is not enough to justify the effort to develop mobile wallets because […]

Standard Chartered targets collateral shortfall

Standard Chartered has enlisted Clearstream and Euroclear to make more efficient use of collateral, as tough new financial regulations drive investor fears of an impending collateral shortfall.

Belgian banks complete migration to SEPA CSM

The Belgian automated interbank retail payment system has been completely migrated to a new Clearing and Settlement Mechanism developed and operated by French payment processing specialist STET

CFPB, FDIC Weigh in on Payday, Deposit Advance Loans (April 25, 2013)

Payday and deposit advance loans were in the news today, with a new report from the Consumer Financial Protection Bureau (CFPB) and a Notice of Proposed Guidance from the FDIC each indicating that regulators soon could tighten rules governing short-term credit products. Payday and deposit advance loans can lead to a repeating cycle of indebtedness […]

MasterCard Exec: MasterPass Aims to Help Merchants ‘Differentiate’ in Converging Marketplace (April 25, 2013)

The U.S. rollout this spring of MasterCard’s MasterPass may be quieter than some other product launches because it doesn’t directly target consumers, Ed Olebe, group head, wallet services, emerging payments, MasterCard, said this week at CARTES America in Las Vegas. MasterPass, unveiled earlier this year as the successor to last year’s PayPass Wallet Services and […]

paysafecard Deal with Vindicia Strengthens U.S. Presence (April 25, 2013)

Online merchants using Vindicia’s CashBox SaaS platform are now able to accept paysafecard for digital goods and services, according to paysafecard, a European-based prepaid electronic payment solution provider, with offices in in Vienna, London and New York. “Vindicia is the ideal partner . . . to help us strengthen our footprint in the U.S.,” said […]

Isis Vending Program Going Nationwide (April 25, 2013)

The companies behind the Isis mobile wallet have teamed up with cashless acceptance technology provider USA Technologies (USAT) to launch a mobile payment and loyalty program for vending machines across the U.S. The partnership is an extension of USAT’s involvement in Isis’s test run in Salt Lake City and Austin, Texas, where Isis users can […]

HFT is here to stay says GreySpark report

Despite its negative public perception, high-frequency trading can act as a force for good in capital markets by adding efficiencies that help investors get a better deal – but only if it is properly regulated, according to new research by technology consultancy GreySpark Partners.

Euronet Subsidiary Launches End-to-End Prepaid Solution in Europe (April 24, 2013)

A subsidiary of Leawood, Kan.-based processor Euronet Worldwide has launched a prepaid card issuing, processing and BIN sponsorship solution in Europe. Euronet 360 Finance Ltd. now is offering electronic money and payment services under the oversight of the U.K. Financial Conduct Authority (FCA). By passporting its e-money license across the Single Euro Payments Area (excluding […]

Boomerang Debuts Online Gifting Service for E-Publishers (April 24, 2013)

Chicago-based social gifting service Boomerang has rolled out a new rewards service aimed at helping online publishers better engage and monetize their users by offering free gift card rewards to online merchants. Boomerang Rewards, an extension of the company’s recently unveiled brand platform, enables online publishers to give customers promotional gift cards to more than […]