Prepaid Cards

Investors gave Starbucks Corp. the cold shoulder Friday morning on news that despite a record $6.1 billion in quarterly revenues, growth is slowing in the United States. But the coffee giant’s payments business has several initiatives brewing, executives reported late Thursday. A leader in closed-loop prepaid cards and mobile payments …

• Bill processor Invoice Cloud announced a collaboration with PayNearMe to allow customers to pay bills with cash at participating retail stores, including CVS, 7-Eleven, Family Dollar, Casey’s General Stores, and ACE Cash Express. • The Miami Parking Authority, the municipal parking-management authority for Miami, said drivers had used the …

The Consumer Financial Protection Bureau announced changes to its controversial prepaid accounts rule and extended its effective date by one year, to April 2019. The changes will adjust error-resolution requirements for prepaid card providers and will make it easier for consumers to link credit card accounts to digital wallets, some …

Total System Services Inc. (TSYS) generated $1.1 billion in segment revenues from its Merchant Solutions unit in 2017, a 22.8% increase from $898.5 million in 2016, the Columbus, Ga.-based processor reported late Tuesday. That growth outpaced 2017’s revenue increases of 5.2% and 12.6%, respectively, in TSYS’s card-issuing and Netspend prepaid …

Fraudulent online sales of cars, recreational vehicles, boats, and outdoor equipment are soaring, with the scams typically funded through the victims’ gift cards, according to recent FBI data. A public-service announcement the FBI posted last week on its Internet Crime Complaint Center (IC3) Web site says the site received 26,967 complaints …

Gift and prepaid card services provider Blackhawk Network Holdings Inc. reported Tuesday that it has a deal with two financial firms to be taken private for $3.5 billion. Private-equity firm Silver Lake Management L.L.C. and hedge fund P2 Capital Partners are offering $45.25 per share in cash. The offer represents …

The Chicago Transit Authority, an early proponent of open-loop fare payments, announced Monday that the general-purpose payment feature in some of its fare cards will expire Dec. 31. The operator of the nation’s second-largest transit system says riders did not embrace the idea of a CTA-provided general-purpose prepaid account coupled …

Discover Financial Services could find itself in the catbird’s seat if Apple Inc.’s new Apple Pay Cash person-to-person payment service gains popularity as a way to pay merchants. In addition to its main P2P function, Apple Pay Cash is accepted at any merchant location that accepts Apple’s 3-year-old Apple Pay …

Apple Inc. on Monday officially entered an increasingly crowded arena of players looking to carve out a share of the market for person-to-person payments. Apple Pay Cash, which the Cupertino, Calif.-based tech giant first announced six months ago, went live following the release of iOS 11.2, Apple’s latest operating-system update …

It’s the time of year when the mind turns to gift-giving, and now there’s an alternative to the mundane gift card. Amazon.com Inc. last week received a patent for a new type of digital card that allows the recipient to buy anything that falls within so-called gift rules set by …