Prepaid Cards

Green Dot Corp. announced late Wednesday that company founder and chief executive Steven W. Streit is retiring. The prepaid card and banking services provider appointed William I. Jacobs, chairman of its board of directors, as interim CEO while it seeks a permanent successor. Streit will continue with the company for …

The growing popularity of debit cards and the displacement of cash by card and electronic payment alternatives is nothing new, but a Federal Reserve banks’ report released Thursday shows debit cards for the first time have surpassed cash as the most-used payment type. The findings come from the 2018 Diary …

Sitting in a meeting in New York City, Clay Wilkes put his company’s latest innovation to the test. “We onboarded a company, funded the master funding account, created an individual account, and moved funds from the master funding account, and bought a gift card on Amazon,” he recalls. “Someone in …

The Federal Trade Commission has started a preliminary inquiry into whether Visa Inc., Mastercard Inc., and large debit card issuers are blocking merchants from routing transactions over PIN-debit networks, the Bloomberg Law news service reported, citing anonymous sources. FTC investigators reportedly have contacted merchants and their trade groups, Bloomberg Law said. Spokespersons for …

Thanks to an influx of technological advancements, individuals now have more choices than ever to save and manage their money. But ensuring that financial tools are best serving consumers takes cooperation among regulators, policymakers, and the private sector. Recently, Federal Deposit Insurance Corp. Chairman Jelena McWilliams said the agency will …

Prepaid-program manager Green Dot Corp. will launch a marketing campaign with talk-show host and comedian Ellen DeGeneres. DeGeneres’s celebrity will be used to promote Green Dot Bank, Steve Streit, Green Dot founder and chief executive, said during a conference call with analysts Thursday. DeGeneres is host of the popular TV …

Walmart Inc. and Green Dot Corp. reported Tuesday they have extended the prepaid program manager’s agreement with the giant retailer for another seven years, assuring that Green Dot will continue to serve as the issuing bank and manager for the Walmart MoneyCard program. Walmart says the new contract begins Jan. …

Mastercard Inc. switched 20% more transactions on its worldwide network in the third quarter than it did a year earlier as purchase volumes remained strong and new growth markets generated more payments. “Growth was broad-based,” Mastercard president and chief executive Ajay Banga said Tuesday morning during the company’s third-quarter earnings …

The holidays are approaching, and with that annual shopping frenzy comes a yearly boost in gift card sales. As it turns out, though, most gift cards are likely to be plastic or paper rather than digital, according to consumer and small-business research released Thursday. While preference for digital cards is growing, …

Mercator Advisory Group released its “Prepaid Cards: Continued Growth” report.Payment security technology developer Sequent Software Inc. named Richard Nassar vice president of product management. Nassar is a former Visa Inc. executive.Travel card provider UATP named David Jimenez chief commercial officer. Jimenez’s career includes stints at Chase Paymentech, Ingenico, and CenPOS.Point-of-sale finance provider Afterpay Touch Group said …