Payments Dive

JULY 12, 2022

The Birmingham, Alabama-based fintech says there is room to grow in the $8 trillion market for business-to-business payment software services.

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PYMNTS

SEPTEMBER 11, 2019

Illinois-based daVinci Payments has announced it is releasing a Chinese Yuan (CNY) corporate-funded prepaid card for employees or customers of multi-national corporations. The launch makes daVinci, formerly Swift Prepaid, the first North American program manager with this offering.

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Bank Innovation

APRIL 23, 2018

Payments fintech PayPal will be expanding its in-store payment offerings this year, now offering users the ability to deposit money onto a prepaid debit card or use their service via a partnership with Samsung Pay, it was reported today, and as the Wall Street Journal noted earlier this month.

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PYMNTS

APRIL 16, 2020

is providing a Trans@ct by 7-Eleven® Prepaid Mastercard®. Treasury Department has started sending out the payments, but some individuals might have to wait weeks or months to get them through the mail, according to an announcement. To help unbanked consumers and their families receive economic stimulus funds faster, 7-Eleven Inc.

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Bank Innovation

AUGUST 25, 2017

American Express will sell its prepaid-card technology to payments solution provider InComm Holdings, the company said Thursday. According to the announcement, InComm will also become the exclusive distributor of American Express’s prepaid reloadable and gift card products in the U.S. […].

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Bank Innovation

JANUARY 19, 2018

British challenger bank Monzo will shut down its prepaid card program in April this year, the bank said on its blog yesterday. Monzo first announced its plans to shutter prepaid cards last year.

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Payments Dive

JANUARY 8, 2024

The company, which provides payment and software services to the public sector, is seeing increased client interest in digital disbursements such as prepaid debit cards, said Sloane Wright, Tyler’s president of payments.

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Payments Dive

JANUARY 4, 2021

He founded and led AccountNow, the first online D2C prepaid debit card company in the U.S., Matt Montes is U.S. general manager at Paysend and has nearly 30 years of financial services experiences, most recently serving as president of Catalina Card Services. which was acquired by Green Dot Corporation.

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PYMNTS

JANUARY 10, 2019

China payment card issuer UnionPay is stepping into the market with prepaid cards for corporates and consumers, the company announced this week. 9) that payment service provider Moorwand , a principal member of UnionPay, will launch the first UnionPay prepaid cards in the U.K. Banking Tech reported on Wednesday (Jan.

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Payments Dive

FEBRUARY 15, 2024

Adding a virtual card number feature “is about giving options to consumers when retailers do not support Apple Pay,” Creative Strategies President Carolina Milanesi said.

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Apple Cards Strategy Retail 221

Bank Innovation

OCTOBER 9, 2017

Japan’s largest bitcoin exchange, bitFlyer, announced on Friday that it has launched a yen-dominated bitcoin Visa prepaid card, bringing Japanese consumers one step closer to being able to use bitcoin for their daily purchases.

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PYMNTS

OCTOBER 7, 2020

In today’s top payments news around the world, Razer Fintech and Visa have unveiled the Razer Card prepaid card, while SafetyPay has joined forces with LATAM’s Rappi. Razer Fintech, Visa Pitch New Prepaid Card to Young Adults in Singapore. Digital Payment Firm SafetyPay Teams With LATAM's Rappi.

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Payments Source

JANUARY 8, 2021

The Treasury Department and IRS are sending out approximately 8 million Visa prepaid cards to deliver a second round of Economic Impact Payments (EIPs) to consumers.

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Bank Innovation

DECEMBER 17, 2019

PayPal this month filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) regarding fee disclosure requirements, arguing that the requirements of the CFPB’s Prepaid Rule would hurt its business and confuse customers.

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BankInovation

DECEMBER 14, 2021

Prepaid payments are primed to be the main innovation rail for the Canadian payments market, as developments in automated banking and consumer technology make headway and market size grows. The Canadian prepaid market in 2019 had $3.74

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PYMNTS

JANUARY 23, 2019

Payments company Swift Prepaid Solutions and small business financier Bitty Advance are collaborating on technology to accelerate small businesses’ access to merchant cash advances. Swift Prepaid is also supporting Bitty’s ability to provide immediate access to cash advances that are uploaded to business debit cards.

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PYMNTS

DECEMBER 11, 2018

Mastercard is teaming up with mobile payments firm Obopay to introduce a prepaid card for corporates in India. 10) that Mastercard, Obopay and Federal Bank are collaborating on the prepaid card solution that enables corporate managers to gain greater control of their payments and expenses.

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Bank Innovation

JULY 23, 2018

With over 25 million mobile bank users on the retail side, Bank of America is shifting attention to ramping the numbers on the commercial side, with the launch of a mobile app for its prepaid commercial cards. Today, Bank of America Merrill Lynch unveiled an app specifically designed for reloadable commercial prepaid cards.

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America Cards Mobile Retail 210

PYMNTS

MARCH 21, 2019

Prepaid Technologies , a provider of business payment solutions for more than 20 years, announced that it has acquired Karmic Labs ‘ dash, the company’s purchasing card portfolio and expense management solution, along with other assets. In addition, several members of Karmic’s staff have joined the Prepaid team.

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Payments Source

SEPTEMBER 27, 2020

Since July, Visa has noticed an uptick in unemployment insurance fraud with prepaid cards being used as a key disbursement vehicle. And the best solution may be rooted in technology, not law enforcement.

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Bank Innovation

SEPTEMBER 11, 2016

It’s a prepaid card without the plastic. That bridge is a plastic prepaid card. Image source Q. What is a mobile wallet? The future needs a bridge. Consumers get used to the action of paying with electronic cash; the delivery innovation comes later. Think of Netflix starting with DVDs Read More.

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Payments Dive

DECEMBER 20, 2023

The Minneapolis-based lender flagged a CFPB probe into prepaid card use last year. The OCC added a separate penalty Tuesday.

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PYMNTS

NOVEMBER 20, 2020

Employees’ payment preferences and access to financial tools can vary, however. . Firms recognize that not all employees can receive payments into bank accounts, and these companies must therefore provide secure, convenient alternatives.

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Cards Tools Survey Payments 197

PYMNTS

NOVEMBER 18, 2020

The November/December Smarter Payments Tracker ® examines how firms are putting payroll apps and prepaid cards to use to resolve frictions for their global workforces. Around The World Of Smarter Payments. The workers can then use these cards to make retail payments in-stores and online, as well as collect cash at the ATM.

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PYMNTS

NOVEMBER 2, 2017

Singapore residents will soon be able to make purchases with a prepaid Visa card backed by the cryptocurrency platform Monaco. The demand for the Monaco Visa prepaid cards has exceeded our expectations with over 17,000 cards reserved, based on word of mouth alone. With perfect interbank exchange rates, and 0.75

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PYMNTS

MARCH 28, 2019

ICBA Bancard, the payment services arm of the Independent Community Bankers of America (ICBA), has partnered with Urban FT, a New York-based software company, to bring prepaid cards to community banks, the companies said in a press release. trillion by 2022.

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Payments Source

OCTOBER 13, 2020

Payments provider B4B Payments has been authorized to become an e-money institution in the U.K., and is seeking a license in Lithuania so the company can advance its prepaid card business throughout Europe.

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Cards Payments Company Compliance 118

Payments Source

APRIL 14, 2020

CaixaBank and Global Payments are building on a series of partnerships to build a joint prepaid venture in Europe.

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PYMNTS

OCTOBER 6, 2020

Razer Fintech and Visa have unveiled a new prepaid card, dubbed the Razer Card, now in its test phase. Right from the start, we have been very excited about our collaboration with Visa to transform the digital payments experience globally,” said LiMeng Lee , Razer Fintech CEO, in a press release.

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Payments Source

JUNE 23, 2020

The spending and account management capabilities of corporate prepaid cards have been given new purpose in a pandemic-struck world dependent on government and charity aid.

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Bank Innovation

AUGUST 29, 2017

EXCLUSIVE – Atlanta-based InComm Holdings and American Express will meet today to discuss next steps for their recently announced partnership on Amex’s prepaid card business, InComm President Phil Graves told Bank Innovation.

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Meeting Atlanta Cards Innovation 199

PYMNTS

MARCH 25, 2016

The FX payments sector may be the hot topic of innovation among FinTech disruptors today, but according to FairFX, corporations are still stuck in the status quo — despite the recent rush of new solutions entering the market. The Prepaid Plan. FairFX, which recently raised nearly $7.5 FairFX, which recently raised nearly $7.5

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PYMNTS

OCTOBER 24, 2018

Grab, the ride-hailing company out of Southeast Asia, and Mastercard, the payment company, announced on Wednesday (Oct. 24) a partnership to issue prepaid cards tailored to the Southeast Asian market. To overcome that, Grab, along with Mastercard, will issue virtual and physical prepaid cards directly from the Grab app.

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Bank Innovation

NOVEMBER 18, 2016

After quietly acquiring Citi Prepaid Card Services for an undisclosed amount (in cash) in June, Wirecard is now gearing up for transaction volumes of $6 billion as early as 2017. The Aschheim, Germany-based payments processor expects that Read More. Wirecard has crossed the pond and found the U.S. to still be the land of opportunity.

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PYMNTS

OCTOBER 5, 2016

The use of prepaid cards has exploded over the last decade or so — in 2003 consumers put less than $1 billion on prepaid cards annually, but by 2012 that figure had grown to $65 billion and by 2018 that figure is projected to reach as much as $121 billion. The user base of prepaid cards has grown significantly as well.

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Cards Google Tools Regulation 189

PYMNTS

JUNE 11, 2018

In their ongoing mutual mission to make coffee purchases more rewarding, Starbucks and Chase are rolling out the Starbucks Rewards Visa Prepaid Card. This prepaid card is the second such rewards card play from the two firms in 2018: The first was Starbucks first branded credit card, the Starbucks Rewards Visa. “We

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CFPB Monitor

FEBRUARY 28, 2022

The CFPB recently issued a factsheet addressing how prepaid interest, also referred to as per diem interest, factors into the calculation of the annual percentage rate (APR) for certain adjustable rate mortgage (ARM) loans and step-rate loans for purposes of assessing qualified mortgage (QM) loan status under the revised general QM rule.

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Examples Payments Compliance Report 78