M&S Contactless Program Netting 230,000 Weekly Transactions (May 7, 2013)

May 7, 2013 U.K. retailer Marks & Spencer (M&S) has completed a rollout of contactless payment technology in 644 of its stores and now is processing 230,000 contactless payments a week. Piloted last summer in 25 of its London stores, M&S’s contactless program uses technology from Visa Europe that enables customers to pay for purchases […]

PayToo Corp. has joined forces with Mobilepaid Ltd. and AnywhereCommerce (May 7, 2013)

PayToo Corp. has joined forces with Mobilepaid Ltd. and AnywhereCommerce to offer PayTooSwipe, a mobile payment acceptance solution it is rolling out globally. The concept, building on PayToo’s global wallet targeting unbanked consumers and mobile payment platform, enables any smartphone or tablet to accept payment from all types of cards including magnetic stripe, EMV chip […]

Jury Sides with Patent Company in Gift Card Case (May 6, 2013)

A bid by a group of big-name retailers to invalidate patents related to prepaid cards has failed in federal court, leaving the merchants subject to future legal action by the holder of the patents. The case dates back to 2010, when patent holder Alexsam Inc. sued retailers, including Best Buy, JC Penney, Barnes & Noble, […]

Mobey Forum: MPOS Disrupts Payments Landscape (May 6, 2013)

Mobile point of sale (MPOS) technology, with its quick enrollment process, low-cost hardware and apps that enable mobile devices to accept card payments, is disrupting the payments landscape as it transitions from a niche solution for small merchants to a revenue generator for large retailers, according to a white paper from Mobey Forum. “Little more […]

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 […]

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: Hugh Meadows, UMB Financial Corp. (May 2013)

UMB Financial Corp., a Kansas City, Mo.-based financial services holding company, has announced that Hugh Meadows has joined UMB as vice president, debit/prepaid card product manager for health care services. He is responsible for executing strategy and driving growth to UMB prepaid and debit card portfolios through new sales and expanding existing business. He also […]

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 […]

People on the Move: Sunrise Banks, Best for the World List (May 2013)

B Lab’s 2013 Best for the World List, which acknowledges companies creating the most positive overall social and environmental impact, has recognized St. Paul, Minn.-based Sunrise Banks. The bank invests in projects within inner-city neighborhoods, works closely with state and federal assistance programs and supports community development, among other philanthropies. B Lab is a nonprofit […]

People on the Move: Scott Goldthwaite, ROAM (May 2013)

ROAM, a Boston-based mobile commerce platform provider and Ingenico company, has appointed Scott Goldthwaite senior vice president of operations. His duties include ensuring that the firm’s operations and business processes are aligned with the rapidly evolving needs of its customers as they deploy mobile point-of-sale solutions. Goldthwaite previously served as a senior member of the […]

Condolences: Timothy Birk, Performance Benefits Inc. (May 2013)

The prepaid and emerging payments industry recently lost a highly respected 30-year veteran. Timothy Birk, CEO at Performance Benefits Inc., died in a car accident on April 14, 2013. Birk, 56, is survived by his wife, Sheri, her children, Brandt and Aidan, and his children, Luke, Olivia and Thomas with his first wife, LaDon. Birk […]

People on the Move: Nick Nayfack, Mercury Payment Systems (May 2013)

Mercury Payment Systems, a Durango, Colo.-based prepaid card processor, has announced that Nick Nayfack, director of product, accepted a seat on the Electronic Transactions Association’s (ETA) mobile payments committee. ETA is an international trade association for the payment processing industry. Nayfack will develop best practices in mobile commerce with industry peers to enable merchants and […]

People on the Move: Nick Holland, Javelin Strategy & Research (May 2013)

Javelin Strategy & Research has hired Nick Holland as senior analyst of payments. He has spent the last decade focusing on the intersection of payments, mobile, retail and security, according to the company. His prior work includes Mercator Advisory Group, Pyramid Research, Aite Group and, most recently, Yankee Group’s Mobile Money Strategies practice. Holland has […]