PayTech


Competition regulation will stifle payments innovation

Proposed policies intended to promote competion in payments could stifle innovation and standardisation in the payments and transaction banking sectors, according to a partner in a leading law firm. Dermot Turing, partner in the international financial institutions and markets group at Clifford Chance, told delegates at the International Payments Summit in London that moves by […]

Card Forum: Discover/PayPal Rollout to Begin April 19 (April 9, 2013)

PayPal and Discover will begin the rollout of PayPal as a payment option at the point of sale, starting April 19, Don Kingsborough, PayPal’s global vice president and general manager of retail and prepaid, said yesterday. Speaking at Card Forum in Boca Raton, Fla., Kingsborough shared the stage with Discover’s Joe Hurley, senior vice president, […]

Card Forum: Put Your Durbin FAQ Plan in Writing (April 9, 2013)

Card Forum kicked off its 25th annual conference in Boca Raton yesterday with “Prepaid Day” and not surprisingly, the Fed’s FAQs on Reg. II came up during a session on regulation. The guidance, which came out two weeks before the April 1 compliance deadline for network routing rules, appears to require PINs to be issued […]

KFC Tests Mobile Payment App in U.K. (April 9, 2013)

Yum! Brands Inc.’s KFC is the latest fast-food giant to pilot a mobile payment app, launching its first such effort near London. Consumers will be able use their smartphones to place orders and pay ahead of time, then pick up their food upon arrival at the store. KFC joins Starbucks Corp., Burger King Corp., Dunkin’ […]

Orange, Vodafone Customers Can Pay with a Beep on Bucharest Subway (April 9, 2013)

Orange and Vodafone customers now can use their mobile phones to pay for trips on the subway in Bucharest, Romania. The system this month is being expanded to the city’s entire 51-station metro network after testing in seven stations last year. Customers can purchase tickets by sending a text message to a special number. A […]

LevelUp Pilot for Student Dining Launches at Pair of Colleges (April 9, 2013)

Students at two colleges have a new way to pay for campus meals, thanks to a pilot being launched by food service manager Chartwells Higher Education Dining Services and mobile payment and loyalty network LevelUp. The program—undergoing a test run at Buffalo State University in Buffalo, N.Y., and the Curry Student Center retail dining venue […]

Same day, same settlement?

The Payment Services Directive in Europe mandated next-business-day settlement – D+1 – for payment transactions between EC states from Jan 2012. But with some European countries already using faster operating standards, Neil Burton and Gareth Lodge ask: is D+1 good enough?

Blackhawk IPO Could Fetch Up to $220 Million (April 8, 2013)

Ahead of its planned IPO, Blackhawk Network Holdings Inc. has set a stock price of $20 to $22 per share, numbers that could lead to the prepaid card provider and third-party distributor raising up to $220 million. Grocery chain Safeway Inc., which owns 96 percent of Blackhawk, revealed plans last year to sell a stake […]

Green Dot, UniRush Prepare ‘RushCard Live’ GPR Card Rollout (April 8, 2013)

Aiming to capitalize on the combined strengths of two of the prepaid industry’s most potent marketing forces, Green Dot Corp. and UniRush LLC today unveiled the RushCard Live Reloadable Prepaid Visa Card, which will be rolling out later this month at thousands of Green Dot retail partner locations. Leveraging the popularity of UniRush LLC co-founder […]

U.K. Bans ‘Excessive’ Payment Card Surcharges (April 8, 2013)

A U.K. ban on merchants imposing “excessive” surcharges when consumers pay with credit or debit cards that went into effect April 6 could mean fewer surprises for consumers that previously complained about getting stung with unexpected transaction fees when paying for airline and rail tickets and other online purchases. But some observers say the new […]

Alegeus: CDH Accounts Up 63 Percent Since 2010 (April 8, 2013)

With consumer directed healthcare (CDH) accounts on the rise, the use of payment cards linked to those accounts also is increasing. And Waltham, Mass.-based Alegeus Technologies, which offers healthcare benefit and payment solutions that feature healthcare spending debit cards, is seeing robust growth, the company announced today. During the three-year period from 2010 to 2013, […]

People on the Move: Karl Mehta, Menlo Ventures (April 2013)

Menlo Ventures, a Menlo Park, Calif.-based venture capital investing firm, has announced that  Karl Mehta has joined the company as venture partner. Mehta will focus on sourcing investments and serving as an adviser in the financial services, mobile payments, e-commerce and gaming spaces. He developed his expertise in these areas as founder and CEO of […]

People on the Move: Darron Dunn, Georgann Smith and Karen Postma, The Members Group (April 2013)

The Members Group (TMG), a Des Moines, Iowa-based card processing and payment solutions provider, has promoted three of its senior-level staff members. In their new roles, Georgann Smith, Darron Dunn and Karen Postma will focus on serving TMG’s growing list of clients. Smith has moved from director of marketing and communications to vice president of marketing. She will provide […]

People on the Move: James B. Stallings Jr., FIS Board (April 2013)

FIS, a Jacksonville, Fla.-based banking and payment technology provider, has named James B. Stallings Jr. to its board. Prior to his retirement in January from IBM after 23 years, Stallings served in a variety of management roles, including general manager of enterprise systems. He also has worked at GE Company and ROLM Corp.; is managing […]

People on the Move: Chris Fry, Braintree Inc. Board (April 2013)

Braintree Inc., a Chicago-based e-commerce payments processor, has announced that Chris Fry, senior vice president of engineering at Twitter, has joined Braintree’s board of directors. With his experience in building world-class developer platforms, Fry will advise on the continued development of Braintree’s payment platform. His expertise will support Braintree as it continues to make it […]

People on the Move: Gary Daniel, Allied Payment Network (April 2013)

Allied Payment Network, a Fort Wayne, Ind.-based provider of online bill payment services to the financial industry, has announced that Gary Daniel has joined the company as executive vice president and board member, bringing more than 45 years of experience to the firm. Daniel has held management and executive positions at several companies providing data […]

Fiserv Launches Mobile Deposit Capture for Prepaid with Check Guarantee (April 4, 2013)

Fiserv Inc. is the latest to offer mobile deposit capture for prepaid cards, with a new program targeting prepaid card processors that includes a check-guarantee service so cardholders may receive funds immediately instead of waiting several days for checks to clear. Fiserv’s Prepaid Source Capture, based on the remote deposit capture it has offered banks […]

Visa Europe Adds Second Processing Partner for U.K. Digital Wallet (April 4, 2013)

Payments processor Global Payments Inc. will support Visa Europe when it launches its V.me digital wallet in the U.K. this spring. The country’s third-largest card payments processor, Global Payments joins WorldPay as processing partners for the U.K. version of the wallet, which launched a pilot with bank partner RBS late last year and is expected […]