Prepaid Cards

The Federal Reserve formally announced the creation of the U.S. Faster Payments Council, an industry organization intended to promote the adoption of secure faster-payment systems through industry collaboration and education. The 22 founding members include payment card networks, banks, Walmart Inc., and automated clearing house network governing body NACHA. The group is …

When retail giant Walmart Inc. and PayPal Holdings Inc. announced nearly a month ago that PayPal customers will be able to withdraw cash from, and deposit cash into, their accounts at U.S. Walmart stores, a major partner in that service wasn’t mentioned. On Wednesday, prepaid card services provider Green Dot …

Prepaid-card provider Card.com said it will feature images of top National Football League players on Visa-branded prepaid cards in a deal with the NFL Players Association. More than 200 player image cards are available. Pushpay Holdings Ltd., a specialist in payments to the U.S. religious sector, said it now offers more …

Online marketplace Shopify Inc. says it will add Venmo as a payment option, MarketWatch reported. PayPal Holdings Inc., Venmo’s parent, has been promoting a Pay With Venmo service to encourage more users of Venmo, known chiefly as a peer-to-peer payment app, to rely on the service for online purchases. The …

Last week payment processor Square Inc. announced its Square Installments service which provides loans of up to $10,000 to customers of its merchant clients. Like all similar services, it splits a consumer’s repayment of large purchases into fixed monthly amounts. Installment solutions are not unique in payments, far from it. But …

Grubhub, an online and mobile food-ordering marketplace, closed on its previously announced acquisition of LevelUp, a mobile-payments and -promotions platform, for $390 million in cash. Dream Payments, a digital-payments platform provider, released an application programming interface that allows insurers to link to the Dream Payments Hub as well as Mastercard …

Priority Technology Holdings Inc. said it purchased PPS Northeast, a former independent brand licensed office of Priority Payment Systems for an undisclosed amount. Payments provider CellPoint Mobile said its payment platform is now available to users of Runtriz’s hotel point-of-sale software for hotels and casinos. NACHA, the governing body for …

Payment-card maker CPI Card Group said Thursday that new sales from an existing customer boosted its U.S. prepaid debit card revenue 26% in the second quarter. Littleton, Colo.-based CPI also reported that sold its United Kingdom business to private-investment firm SEA Equity for $4.5 million. With revenue of $15.4 million …

Green Dot Corp. executives played up their “banking-as-a-service” platform Wednesday as the company reported strong second-quarter growth in most of its business lines, but they said little about the support they provide for Apple Inc.’s Apple Pay Cash service. Pasadena, Calif.-based Green Dot supplies the virtual prepaid card that customers …

Payscout announced it purchased Paywire Inc. for an undisclosed amount. Payscout said it will expand Paywire’s education and health-care payments products to its merchants. Paywire’s tools consolidate payment software systems to reduce the scope of compliance and enhance security, Payscout said. Mobile point-of-sale specialist CardFlight Inc. lined up another distribution …