Entries for the Banking Technology Awards 2014 have been open for a while now, but as we move into the last few weeks, this is always a time when we are flooded with questions about the process. By way of response, here are some guidelines based on my experience chairing the judging panel over the past 11 years.
The FDIC has clarified its previous guidance related to the DOJ’s Operation Choke Point, which encourages financial institutions to scrutinize payment processor clients that process payments for certain types of businesses.
Employees and former employees of 16 McDonald’s restaurants across Pennsylvania have filed a class action lawsuit against the restaurants’ owners for violating the law when they allegedly failed to provide a method of receiving wages other than on a payroll card.
Financial technology investment by major venture capital firms more than tripled between 2009 and 2013, a new study found.
Payments processor Stripe Inc. has ventured into the Asia-Pacific region by launching its services last week in Australia.
Government-funded prepaid cards continue to grow steadily, with agencies at the U.S. federal, state and local levels using prepaid to disburse benefit funds, tax refunds and other payments.
New restrictions on campus debit cards being considered by the U.S. Department of Education have the potential to be too far-reaching and severely limit students’ access to financial services, according to more than 40 U.S. lawmakers—senators and congressman, Democrats and Republicans.
Apple could finally be preparing to make its long-awaited debut in the mobile wallet sector.
PayPal is launching its Working Capital program in the U.K. this fall for select small to midsize business customers, offering cash advances against their future sales.
The Network Branded Prepaid Card Association announced today that Doug Bower will join the association as executive director and president, effective August 5, 2014.
The Dodd-Frank Wall Street Reform and Consumer Protection Act, the legislation born from the economic crisis a half-decade ago, turned 4 years old this week. The shockwaves from the law, which has significant impact on the prepaid industry, likely will be felt for years to come.
Raphaels Bank and the U.K. Post Office have joined to launch a new prepaid MasterCard.
U.K.-based mobile payment solution provider Omlis has appointed Matt Banham chief technology officer.
The American Lawyer has ranked Paul Hastings LLP atop its 2014 A-List of most successful U.S. law firms.
MasterCard has appointed Ram Chari CEO of ElectraCard Services, which it acquired earlier this year.
Net Element Inc., a mobile payments and transactional services provider, has appointed William Healy to the company’s board of directors, where he will serve on the board’s audit, compensation, nominating and corporate governance committees.
Austin, Texas-based payments processor SecureNet has named Matt Odirakallumkal senior vice president of risk management.
SIMalliance, a London-based nonprofit trade association supporting the creation, deployment and management of secure mobile services and applications, has announced its board of directors for 2014-15.
Skrill Group, provider of online payment technologies to merchants and consumers, has appointed David Sear group chief commercial officer.
Amazon has launched a new mobile wallet app for managing and redeeming gift and loyalty cards.
New York State’s Department of Financial Services is seeking public comment on a recently proposed “BitLicense” regulatory framework for digital currency businesses in the state.
The Reserve Bank of India recently issued draft guidelines for companies seeking bank licenses in two niche banking categories: payments banks and small banks.
Mobile photo sharing and messaging app Snapchat might be seeking to move into payments.
Trading technology firm Corvil has launched a new streaming analytics platform which it says will help exchanges, banks, brokers and other trading firms to sweep away the IT failures of the past and learn to better understand the market.
As Google Wallet continues to experiment, the latest evolution adds a new gift card management function and removes fees on debit card-based P2P money transfers made via the wallet.
Payment systems provider ACI Worldwide announced today it will acquire U.K.-based fraud prevention solutions provider Retail Decisions (ReD) in an all-cash purchase of $205 million.
The boundary between social media and commerce continues to blur, with a pair of announcements from two major tech companies accelerating the convergence of shopping and socializing online.
Green Dot Corp., a Pasadena, Calif.-based provider of prepaid debit card products and reloading services, is discontinuing the MoneyPak PIN method of reloading cards, moving fully to the card swipe reload process, according to a written statement provided yesterday at a hearing of the Senate Special Committee on Aging.
The CFPB wants to expand its Consumer Complaint Database to enable consumers to provide a narrative with their complaints about financial services.
The battle for space at the online checkout counter continues as Visa Inc. unveils a new service to enable e-merchants to add a one-click purchase button to shopping Websites and apps.
The merchant plaintiffs in a lawsuit against the Federal Reserve Board of Governors have been granted another extension to petition the U.S. Supreme Court to hear the case.
Chuck Harris has been named senior executive vice president of TSYS, and he will take over the reins of TSYS-owned GPR and payroll card provider NetSpend, effective July 31, as CEO Dan Henry is leaving the company after serving in the executive role since 2008.
eBay Inc.’s Braintree payments unit has unveiled a new software development kit (SDK), marking Braintree’s first major upgrade since being acquired by eBay in an $800 million deal last year.
Chinese postal network China Post will make a major investment toward building a mobile and online payment service.
Consumer spending eased off a bit in June, but remained on an overall path of growth, according to data from First Data Corp.’s latest SpendTrend report.
Milan-based payment processing specialist SIA says that a migration of its systems to the Red Hat Linux environment has led to a 270% reduction in processing times.
Forty percent of mobile wallet users are using mobile as their primary form of payment—and mobile-specific offers and rewards could be the key to converting the remainder, a new report suggests.
With the Canadian government planning to phase out paper checks by 2016 for federal benefits recipients, half of Canadians who are unwilling to use direct deposit would be willing to try receiving their benefits on a reloadable prepaid card, according to a public opinion report released earlier this year and commissioned by the Public Works and Government Services Canada (PWGSC).
cadooz GmbH, a provider of vouchers, rewards and incentives, announced a deal to distribute gift cards and voucher codes for Spotify, the digital music streaming service, to business customers in 25 European countries.
Swedish mPOS provider iZettle has added €5 million (US$6.8 million) to its coffers, after the latest investment in the company’s Series C round of funding.
