PayTech


MasterCard Launches Prepaid Travel Card in Canada (June 27, 2013)

June 27, 2013 The latest entry in a spate of new prepaid travel cards comes from Canada, where MasterCard Canada and its subsidiary Access Prepaid Worldwide this week launched the new Cash Passport Prepaid MasterCard Currency Card. Targeting Canadian travelers seeking a secure alternative to traveler’s checks or cash, the EMV-enabled Cash Passport card enables […]

Report: U.S. EMV Migration Price Tag to Exceed $10 Billion (June 27, 2013)

June 27, 2013 As more U.S. card issuers solidify their plans to migrate to the EMV chip-card standard by October 2015, the estimated cost of the effort is settling in at $10 billion to $11 billion, according to a new report from Aite Group. Most U.S. issuers will launch with chip cards requiring only a […]

Lloyds Bank, Monitise Partner on mPOS Play (June 27, 2013)

June 27, 2013 Lloyds Bank is entering the mobile POS market via a new deal with Monitise plc under which the U.K. bank will sell Monitise’s card acceptance technology to small businesses and micro-merchants. The companies will begin offering “a suite of mobile payments products” beginning this fall, with Monitise’s technology also serving as the […]

UKGCVA, SVS Launch Christmas Design Competition (June 27, 2013)

June 27, 2013 Christmas is coming early for children in the U.K., who have the chance to see their own gift card design in stores this holiday season. The UK Gift Card and Voucher Association (UKGCVA), the trade body representing the U.K.’s £4.7 billion voucher, gift card and stored value solutions industry, has launched a […]

MasterCard Inks Small-Business MasterPass Deal with Web.com (June 26, 2013)

June 26, 2013 MasterCard Worldwide, looking to extend its MasterPass e-commerce checkout service to merchants on a mass basis, today announced a partnership with online retail services provider Web.com Group Inc., making MasterPass immediately available to tens of thousands of small-business merchants. Web.com, which has about 3 million small-business customers, now bundles MasterPass e-commerce checkout […]

Square Launches Online Marketplace for Local Micro-Merchants (June 26, 2013)

June 26, 2013 Square Inc. hopes to give a boost to micro-merchants that have traditionally sold items face to face as they move into e-commerce through its new Square Market, which the San Francisco company unveiled this week. Targeting local merchants selling items online for the first time, Square Market provides an easy path for […]

Report: Gov’t Prepaid Offers Savings for Agencies, Recipients (June 26, 2013)

June 26, 2013 Using prepaid cards for benefit payments to individuals can help reduce costs for government agencies as well as recipients, according to a new report by the Association of Government Accountants (AGA). The study was conducted by the AGA’s Corporate Partners Advisory Group (CPAG) research project, sponsored by Visa. The report was based […]

CFPB: Investigated Parties Can Earn Credit toward Mitigation (June 26, 2013)

June 26, 2013 Self-policing, self-reporting, remediation and cooperation are four factors which the Consumer Financial Protection Bureau (CFPB) will take into account when deciding whether some form of mitigation credit is warranted in an enforcement investigation, according to a new bulletin issued by the agency. However, those seeking such credit need to go well above […]

RBS poaches Berndt from BAML to head global transaction services

RBS has hired Carole Berndt as global head of transaction services. Berndt has been EMEA head of transaction banking at Bank of America Merrill Lynch for the past three years. She will be based in London and report to John Owen, chief executive, International Banking, at RBS, who said: “I am delighted to welcome Carole […]

Green Dot’s GoBank Goes to Market with Optional Fee Intact (June 25, 2013)

June 25, 2013 Green Dot Corp. is taking the “name your price” feature to financial services as it rolls out its GoBank mobile banking solution nationwide today. Since its January unveiling, GoBank has been in beta testing with a group of invited consumers. Now anyone can sign up for the service at GoBank.com or by […]

Barclays Readies ‘Buyit’ QR Code-Based M-Payment Service (June 25, 2013)

June 25, 2013 Barclays is taking contactless payment in a new direction with a service enabling users to make payments directly from their bank accounts by tapping their phones on QR codes on billboards, magazine ads and other printed items, potentially including routine bill payments. Harnessing the Barclays Pingit mobile payments app, the new Buyit […]

Cordray, NLRB Appointments in Supreme Court’s Hands (June 24, 2013)

The U.S. Supreme Court this morning decided to hear the case of National Labor Relations Board v. Noel Canning. Hanging in the balance is the legal validity not only of appointments made by President Barack Obama to fill NLRB vacancies, but the appointment of Richard Cordray to the Consumer Financial Protection Bureau (CFPB). A ruling […]

MasterCard Survey: European Consumers Say No to Cash for Holiday Spend (June 24, 2013)

  Click here for larger PDF version.   June 24, 2013 More Europeans are pulling out cards instead of cash while on holiday, according to new research from MasterCard. The online survey  of 3,310 consumers in eight countries—Spain, Italy, Germany, Sweden, U.K., France, Poland and Ukraine—found that consumers prefer having their debit or credit cards on hand […]