PayTech


Diebold debuts cardless ATM at CES

ATM maker Diebold has developed an ATM that lets customers withdraw cash without using a card – and saves the bank money in the process.

Viewpoint: Time to Prepare for Your CFPB Exam (January 2013)

January 2013   By Jeremy T. Rosenblum and Stefanie H. Jackman, Ballard Spahr LLP The sky is not falling—at least yet. The ability of the Consumer Financial Protection Bureau (CFPB) to supervise smaller banks (less than $10 billion in assets) and other companies providing prepaid cards to consumers is currently limited. For participants in the […]

InComm Moves into E-Gifting with Giftango Acquisition (Jan. 8, 2013)

Jan. 8, 2013 Atlanta-based prepaid distribution and technology provider InComm has acquired Giftango Corp., the Portland, Ore.-headquartered digital gift card fulfillment provider, in a move InComm says is meant to expand the company’s reach into high-volume, e-commerce gift card sales and distribution. “This acquisition opens doors to new and meaningful distribution channels for InComm merchants […]

U.S. Bank Offers Mitek’s Mobile Photo Bill Pay to Customers (Jan. 8, 2013)

Jan. 8, 2013 Customers of U.S. Bank, Minneapolis-based lead bank of U.S. Bancorp, now will be able to set up bill payments by photographing their paper bills using the camera on smartphones and tablets. Mobile Photo Bill Pay could help spur bill pay adoption by eliminating the need to manually enter biller and payment information, […]

In-Store Visits Plummet in Holiday 2012, But Transaction Size Increases (Jan. 8, 2013)

Jan. 8, 2013 After a strong post-Thanksgiving start, in-store holiday retail sales were sluggish this season as an uncooperative calendar and a continued shift toward online shopping dragged down store visits. According to retail analytics provider RetailNext, brick-and-mortar retail traffic was down significantly in the 2012 holiday season, as the number of store visits fell […]

Gift Card Exchange Gets Physical with Coinstar’s Alula Kiosks (Jan. 8, 2013)

Jan. 8, 2013 Coinstar Inc. is introducing a new dimension to the secondary gift card market with Alula, a kiosk service it’s piloting in some supermarkets that enables consumers to immediately convert unused gift cards into cash. The service cuts out steps and speeds up the process of selling unused gift cards through various online […]

Leading with remittances – a new retail banking segment

The remit of the World Bank and the Gates Foundation is to focus on flows of money to developing economies, so much of the publicity is about those and as a result, much of what we understand about remittances is about those markets. And they are not to be underestimated.

Chinese NFC Takes another Step Forward with ZTE, China UnionPay Pact (Jan. 7, 2013)

Jan. 7, 2013 Telecom network and equipment provider ZTE Corp. has been selected by Shanghai-based card network China UnionPay (CUP) to provide mobile payment services to CUP cardholders. As part of the deal, ZTE—the world’s fifth-largest maker of telecom equipment—plans to develop an NFC-based mobile phone. The firms also said they would explore the development […]

Report: Despite Smartphone Penetration, Mobile Banking Lags (Jan. 7, 2013)

Jan. 7, 2013 Financial institutions and mobile wallet vendors will encourage consumers to use mobile payments over the next few years through hybrid solutions intended to bridge the gap between the physical, online and mobile channels, according to a recent report by Javelin Strategy & Research that outlines financial services trends in 2013, as well […]

Heartland Nabs Payroll Firm (Jan. 7, 2013)

Jan. 7, 2013 Payment processor Heartland Payment Systems has acquired Ovation Payroll, a Rochester, N.Y.-based payroll services firm. In addition to bolstering Heartland’s payroll business, the acquisition brings Ovation’s affinity partner network under Heartland’s umbrella, providing Heartland with “high quality sales leads that can be leveraged throughout the Heartland sales force,” the company said. With […]

Gift Card Weekend Site Draws 1 Million-Plus Consumer Visitors (Jan. 7, 2013)

Jan. 7, 2013 Publicity and news stories touting Gift Card Weekend on Jan. 4-6 drove more than 1 million unique visitors to its Website, suggesting a dramatic uptick in consumer interest in the second annual event, according to Kansas City, Mo.-based Gift Card Impressions, which created the concept. The event’s success has prompted Gift Card […]

Starbucks Sells Square Card Readers to Boost Small Business (Jan. 4, 2013)

Jan. 4, 2013 Customers now can purchase a Square mobile payment card reader along with their venti Caffè lattes and blueberry scones at all of Starbucks’ 7,000 company-operated stores in the United States. Square enables anyone with an iPhone, iPad or Android device to accept credit and debit cards with its card reader that plugs […]

Tagit, Smartlink Offer Smartphone-Based Banking in Vietnam (Jan. 4, 2013)

Jan. 4, 2013 In a bid to capitalize on the rapid growth of smartphone use in Vietnam, Singapore-based mobile banking provider Tagit is partnering with mobile switch operator Smartlink to launch a new platform that will enable Vietnamese banks to launch cost-effective smartphone-based financial services, the companies said. By partnering with Smartlink, Tagit gains access […]

mPowa Eyes Global Expansion (Jan. 4, 2013)

Jan. 4, 2013 Mobile payment provider mPowa is starting the new year in expansion mode, as the U.K.-based company unveils plans to enter new markets, including new cities in the U.S. and India. mPowa, which offers merchants a card reader that plugs into a mobile device for payment card acceptance, is competing with Square—the market […]

NYC Startup Banks on Virtual ‘Kurrenci’ (Jan. 4, 2013)

Jan. 4, 2013 New York City-based startup Kurrenci has developed a virtual currency it says will help online retailers earn and retain customers by using a unique discounting method. Kurrenci’s platform is based on the company’s eponymous virtual currency, which can be purchased or earned online by users, and then exchanged for goods at participating online […]