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British mobile-banking and payments technology provider Monitise plc announced a $173 million deal Monday to buy San Rafael, Calif.-based Clairmail Inc. that will give Monitise a much bigger U.S. presence in mobile financial services and further consolidate a market nurtured by startups but feeling the increasing presence of international card …
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PayPal Lifts the Curtain on an Overhauled Wallet As Rumors Swirl About a Mobile Dongle
With rumors swirling that it is close to launching a mobile-acceptance device for small merchants, PayPal Inc. on Tuesday unveiled a digital wallet that offers a raft of new features at a time when major rivals like Google Inc. and Visa Inc. are introducing new wallets. PayPal’s product, which it …
Read More »Consumers Look to Tech Firms for Innovation But Place Their Trust in Banks
Countless news reports have reported or speculated about what Google Inc., Apple Inc., Amazon.com Inc., and Facebook Inc. have done or might do in mobile payments. Consumers, however, don’t rate these four companies as highly as they do their own banks or traditional payment companies in trustworthiness involving their financial …
Read More »Pulse Pulsates with New Issuers As MoneyPass Adds POS Utility to Its ATM Network
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Read More »Trends & Tactics
A Look at Durbin’s Early Impact Things went pretty much according to script in the first three months of Durbin Amendment debit card price controls. Debit market leader Visa Inc. got dented while MasterCard Inc. picked up speed. Visa chairman and chief executive Joseph Saunders predicted that the slowdown Visa’s …
Read More »Cover Story: Don’t Fence Me in
Though aimed mainly at debit cards, the Durbin Amendment corrals prepaid cards in a number of ways, as well. Will the restrictions choke off growth in this thriving business? By Linda Punch When the Durbin Amendment passed, major financial institutions issuing prepaid cards thought they had dodged the proverbial bullet. …
Read More »Fiserv Combines Its P2P Payments Services Under the Popmoney Brand
Building on its $465 million acquisition in September of person-to-person payments service CashEdge Inc., bank processor Fiserv Inc. on Wednesday announced it will combine CashEdge’s Popmoney with Fiserv’s ZashPay P2P payment networks under the Popmoney name. The combined network, which also will be integrated into Fiserv’s CheckFree RXP payment suite, …
Read More »In a Sneak Peek at Its Mobile Wallet, Isis Says Product Will Come with Preloaded Cash
The Isis mobile wallet, set for release in two U.S. cities this summer, will feature a prepaid card with cash already loaded and a capability to “follow” participating merchants to receive coupons and other offers. The broad outlines of how the wallet will work were disclosed on Wednesday as Isis …
Read More »Boku Invades Point of Sale with a Mobile Wallet Aimed at Wireless Carriers
With e-commerce kingpin PayPal Inc. having used mobile technology to move into processing for brick-and-mortar merchants, it was probably only a matter of time before others followed suit. The latest to join the parade is San Francisco-based mobile-payments provider Boku Inc., which on Thursday announced a platform that will let …
Read More »Processor Execs Echo Merchant Sentiment in Favor of PINs for Chip Cards
Some of the nation’s biggest merchants have been adamant for months that they prefer EMV payments with PINs, not signatures, and on Thursday they were joined in that sentiment by a panel of representatives from some of the country’s largest processors. In the face of tepid support, at best, for …
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