PayTech


People on the Move: Chris Flink, Fiserv Inc. Board of Directors (December 2012)

December 2012 Fiserv Inc., a Brookfield, Wis.-based financial system and service provider, has appointed Chris Flink to its board of directors. He is a partner at IDEO, an innovation and design firm, and a consulting associate professor at Stanford University. At IDEO, Flink has held a variety of roles, from heading the firm’s consumer experience […]

Court Rejects Bid for Expedited Appeal of Interchange Settlement (Dec. 13, 2012)

Dec. 13, 2012 The latest blow in the continuing court battle over interchange fees charged to merchants for accepting Visa and MasterCard credit cards was struck this week, when an appeals court declined a request by Home Depot to expedite the retailer’s appeal of a $7.25 billion settlement proposed in July. The agreement—which received preliminary […]

Discover Deal Connects U.S. Online Merchants to 3.2 Billion China UnionPay Cardholders (Dec. 13, 2012)

Dec. 13, 2012 Merchants that accept Discover cards online soon will have a secure, streamlined approach to selling goods to billions of Chinese shoppers through a new agreement between Discover Financial Services, the giant Shanghai-based card network China UnionPay (CUP) and CardinalCommerce Corp., a Cleveland-based card authorization platform provider. Beginning early next year, CUP’s 3.2 […]

PayPal’s Continues In–Store Push with InComm Reload Product (Dec. 13, 2012)

Dec. 13, 2012 PayPal Inc. has been pushing hard into brick-and-mortar retail this year—and now the online payment giant is giving users yet another reason to get into stores. The company—in partnership with third-party distributor and technology provider InComm—has unveiled its new PayPal My Cash Card, which enables users to fund their PayPal accounts via […]

Senator Casey Supports Blumenthal’s Gift Card Protection Act (Dec. 13, 2012)

Dec. 13, 2012 U.S. Sen. Robert Casey (D-Pa.) this week announced his support of the Gift Card Consumer Protection Act, which would prohibit expiration dates and dormancy, inactivity and service fees on gift certificates, store gift cards and general-use prepaid cards. The bill (US S 3636) also aims to prevent companies filing for bankruptcy from […]

Earthport sees Turkey before Christmas

Cross-border payments service provider Earthport has opened a low value payments service into Turkey, which will allow Earthport’s clients to reach an estimated 42 million bank accounts.

HSBC Pays Record $1.9 Billion in Settlement Following AML Investigation (Dec. 11, 2012)

Dec. 11, 2012 HSBC’s record $1.9 billion payout to settle allegations that it violated U.S. anti-money laundering (AML) rules suggests that the government is getting better at spotting and punishing organizations that try to skirt regulations, legal experts say. U.K.-based HSBC Holdings plc today said it reached a deferred-prosecution agreement with the U.S. government following […]

InComm Nabs Adility to Bridge Mobile, In-Store (Dec. 11, 2012)

Dec. 11, 2012 Prepaid services provider InComm has reached a deal to acquire a majority stake in Adility Inc., a platform for “online-to-offline” commerce, which InComm will integrate into its existing in-store POS infrastructure in a bid to help retailers generate retail sales using virtual prepaid cards and coupons. Adility enables retailers and brands to […]

First Data: November, Black Friday Spending Weaker than Last Year (Dec. 11, 2012)

Dec. 11, 2012 Dollar volume growth for November was solid but came in lower than last month and the year-ago period, according to the latest SpendTrend data released by First Data Corp., an Atlanta-based payments processor. November dollar volume growth was 5.8 percent, down from 6.7 percent in October and down from 7.3 percent in […]

Bango Stretches to Australia with Google Play Deal (Dec. 11, 2012)

Dec. 11, 2012 Mobile payments specialist Bango Inc. is expanding its reach again, this time to Australia where local mobile network operator Telstra has added the capability for its subscribers to make one-click purchases of digital goods through Google Play. U.K.-based Bango, which began providing payment services to Facebook earlier this year, recently integrated a […]

Startup Combines Mobile Shopping, Loyalty, Gifting in One App (Dec. 11, 2012)

Dec. 11, 2012 A new startup aims to combine shopping, loyalty and gifting to provide what it calls “the most relevant offers to consumers and the most targeted customers to merchants.” Philadelphia-based Clutch last week launched its free iOS app, which enables users to manage gift and loyalty cards, daily deals, coupons, social gifting and […]

Apple Piles Up Patents as ‘Defensive’ Strategy, Analysts Suggest (Dec. 10, 2012)

Dec. 10, 2012 Apple Inc.’s Passbook mobile wallet app gradually is gaining momentum with merchants and card issuers integrating with the mobile wallet app. And while Apple continues to remain mum about plans to add NFC to its handsets, where Apple is going with its proliferating number of other payments-related patents is anyone’s guess. Apple […]

FIS Unveils $1 Fee ATM Program (Dec. 10, 2012)

Dec. 10, 2012 Banking and payments technology provider FIS has unveiled a new program the company says will save ATM users from high convenience fees, while increasing traffic and earnings for ATM owners. FIS’s new DOLLAR$TOP limited surcharge program enables consumers to access ATMs across the U.S. with a guaranteed $1 convenience fee limit. Available […]

Optimal Continues Prepaid Push with MasterCard Pact in Europe (Dec. 10, 2012)

Dec. 10, 2012 Just months after becoming an issuer of prepaid cards, global online payments provider Optimal Payments has taken another step into the prepaid arena, inking a deal with MasterCard International Inc. in a bid to expand the company’s presence in the European prepaid market. The collaboration will be based around Optimal’s Net+ MasterCard […]

Square Inc. Adds Smartphone Gift Cards to Wallet (Dec. 10, 2012)

Dec. 10, 2012 Small merchants that accept Square Wallet are hoping to get a holiday sales boost from Square Inc.’s introduction this week of digital gift cards. San Mateo-based Square’s latest offering enables smartphone users to purchase a gift card from 250,000 merchants participating in Square Wallet, and pay using any card. Consumers buying Square […]

Asperity Selects Giftango Platform for U.S. Rewards Programs (Dec. 10, 2012)

Dec. 10, 2012 Asperity Employee Benefits, a U.K.-based employee benefits provider, has chosen Giftango Corp. to manage and fulfill e-gift cards for Asperity’s recently launched rewards program in the United States. The partnership enables Asperity and its Web-based benefits platform to provide customers with a wider selection and instant delivery of e-gift cards through the […]

Cardfree’s Mobile Vets Launch Mobile Merchant Platform (Dec. 10, 2012)

Dec. 10, 2012 San Francisco-based startup Cardfree has launched a white-label mobile platform providing merchants with the ability to implement personalized offers and promotions, mobile payments, loyalty programs, social media engagement and data analytics, among other capabilities designed to drive incremental visits, larger ticket size and greater consumer engagement. The goal of Cardfree is to […]

EU businesses “unprepared” for SEPA, warns survey

Europe’s businesses are unprepared for the arrival of the Single Euro Payments Area in February 2014, with many completely unaware of its consequences, according to new research by IT business services provider Steria.

Elizabeth Warren to Join Senate Banking Committee (Dec. 6, 2012)

Dec. 6, 2012 Fresh off her election to the U.S. Senate, Elizabeth Warren (D-Mass.) is set to join the Senate Banking Committee when the new Congress convenes in January, according to reports citing congressional aides. By joining the committee, Warren, known as a strong advocate for regulation of Wall Street, would gain significant power to […]