Prepaid Cards

• Prepaid card provider Green Dot Corp. appointed William I. Jacobs, who joined its board of directors in April, as board chairman. The chairman spot had been held by CEO Steve Streit, but the company, which recently had a proxy fight, is separating the roles. Jacobs currently is chairman of …

Forecasters have long predicted that the U.S. payments market’s move to EMV chip cards for in-person transactions will drive criminals into e-commerce fraud. Now data is emerging to show the nuances these fraudsters are exploiting, and how the rise in online fraud is hardly limited to the U.S. market. In …

Two long-time members of Green Dot Corp.’s board of directors who were up for re-election suddenly resigned Sunday, just ahead of the company’s contested annual shareholder meeting Monday that potentially could lead to the ouster of company founder and chief executive Steven W. Streit. The Pasadena, Calif.-based prepaid card provider …

Green Dot Corp. shareholders re-elected chairman and chief executive Steven W. Streit to the company’s board of directors Monday after a proxy fight, but they also elected two nominees from dissident shareholder Harvest Capital Strategies LLC, which has called for Streit’s ouster. Harvest Capital, which says that Streit is not …

Holders of the Walmart MoneyCard issued by Green Dot Corp.’s bank subsidiary have resorted to social media in the past few days to complain of not being able to check account balances or use their cards to make purchases and withdraw money from ATMs. The extent of the glitch is …

• Visa Inc. announced its Visa Checkout digital wallet now has more than 12 million consumer accounts and is offered by more than 675 financial institutions in 16 countries. “Hundreds of thousands” of merchants now use the platform, Visa said, making Checkout one of the fastest-growing consumer products in the …

More than 80% of the fare value collected by the Dallas Area Rapid Transit System at its ticket windows and on its buses comes in the form of cash, so next spring the transit agency will start offloading that cash onto local 7-Elevens and other stores. DART and PayNearMe Inc., …

The increasingly dramatic proxy fight at prepaid card issuer Green Dot Corp., a fight that could cost its founder, chairman, and chief executive Steven W. Streit his job if management loses, took an interesting turn Monday when Green Dot said it would appoint George Gresham, a director nominee from the …

• WePay Inc. introduced a service that allows business-services platforms to offer card readers under their own brand to merchants for mobile acceptance of mag-stripe and EMV chip cards. Standard processing rate is 2.75% plus 30 cents. The first platforms to take advantage of the service are FreshBooks and Infusionsoft. …

Gift cards are the target of a crackdown in the first half of 2016. Next month, PayPal Holdings Inc. will no longer allow items equivalent to cash, including gift cards, to be covered by PayPal’s Seller Protection program for merchants. And prepaid card provider Blackhawk Network Holdings Inc. recently reported …