FitPay and Mastercard take prepaid to wearables and IoT


FitPay Inc, a US-based provider of payment, credential management and authentication platform services, is planning to offer prepaid capabilities on wearable and other devices connected to its FitPay Payment Platform.

PFS deal to provide Moneymailme users with prepaid cards


Users of Moneymailme will have the option of using physical and virtual prepaid cards to make purchases with the funds in their e-wallets.

CFPB seeks comments on proposed changes to US prepaid rule


The US Consumer Financial Protection Bureau (CFPB) has issued a request for comment on proposed changes to its final rule on prepaid accounts that would adjust requirements for resolving errors on unregistered accounts and provide greater flexibility for credit cards linked to digital wallets. Paybefore (Banking Technology‘s sister publication) reports that the bureau first floated […]

Ebix buys majority stake in India’s payments tech vendor ItzCash


Indian payment solutions provider ItzCash Card has a new main backer. This is Ebix, a US-based vendor of on-demand software and e-commerce services to the insurance, financial, e-governance and health care industries. Ebix has taken an 80% stake in ItzCash for $120 million.

Bitpay’s Visa branded prepaid card for Bitcoin goes global

Get you Bitcoins

Bitpay has released its Visa-based prepaid debit card in 131 countries. The card “makes it possible for users to convert Bitcoin into a spendable dollar, euro or pound balance” on the card in a matter of minutes, the company says.

Start-up Current enters teen market touting budgeting tools, parental controls and charitable giving


Current, a start-up created by a small team of New York-based fintech entrepreneurs, has launched a prepaid card program and mobile app for kids and parents that goes beyond dispensing allowances.

Square Cash gets physical with companion prepaid card


Square Inc has begun rolling out a physical plastic card for use with the company’s Square Cash P2P money transfer service – a move that could help differentiate the service from its competitors by making it easier for users to instantly spend funds they receive via transfer.

The Bancorp sheds European prepaid operations

UBS and StatPro agree acquisition deal

US-based financial services group The Bancorp has closed the sale of its European prepaid properties to Neptune International.

Time running out for CRA rollback of US final prepaid rule

US prepaid consumers not happy

The clock is winding down for US Congressional lawmakers to repeal the Consumer Financial Protection Bureau’s (CFPB) final prepaid accounts rule under the Congressional Review Act (CRA), reports Paybefore (Banking Technology‘s sister publication). Under that law, Congress has until 9 May – 60 legislative days after the law was published in the Federal Register – to repeal […]

CFPB to delay final prepaid rule by six months, “revisit” aspects with new proposal


It’s official. The US Consumer Financial Protection Bureau (CFPB) is pushing back the effective date of its final rule on prepaid accounts until 1 April 2018 – six months after the originally scheduled implementation date of 1 October 2017.