PYMNTS

JULY 28, 2020

Consumers are also changing how they pay for their purchases, with a recent study finding that debit card spend was up 11.7 Consumers today are especially likely to use their debit cards for their eCommerce purchases or to make in-store purchases with mobile wallets, and card-not-present (CNP) transactions represented 43.1

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Perficient

JANUARY 27, 2022

In this respect, it is analogous to a digital form of paper money. The American public has long held and transferred money in digital forms, including bank accounts, online transactions, or payment apps (i.e., The forms of money used in those transactions are liabilities of private entities, such as commercial banks.

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cryptocurrency Payments Policies Fraud 294

Bank Innovation

JUNE 26, 2019

Money-transfer startup TransferWise is expanding the reach of its multi-currency debit card and, in doing so, wading into bank territory. customers can take advantage of the multi-currency account compatible with more than 40 currencies through a Mastercard debit card […].

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PYMNTS

DECEMBER 31, 2020

Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. Security challenges are mounting, too.

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Fraud Strategy Security Cards 273

The Paypers

APRIL 4, 2023

Canada-based fintech Neo Financial has rolled out the Neo Money card to offer the benefits of a chequing account, savings account, and rewards card for no annual fee.

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Bank Innovation

AUGUST 13, 2018

debit cards are the most popular method of payment, so it’s not surprising that many fintechs are trying to enter the debit card market. In the U.S.,

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PYMNTS

APRIL 27, 2020

Debit card spend and average debit card purchases saw year-over-year increases as money was automatically deposited into checking accounts — and consumers found ways to use it, with debit purchases on consumer goods notably increasing.” . Debit card transactions were down 2.4

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PYMNTS

APRIL 28, 2020

These shifts have made digital banking and debit transactions more important than ever. Financial institutions (FIs) are now working to extend services into customers’ homes, for example, and consumers are making fewer credit card payments amid uncertainty over what their employment statuses and budgets might be when the bills come due.

Digital Banking 238

Digital Banking Los Angeles Cards California 238

PYMNTS

JANUARY 8, 2021

Roughly 8 million stimulus check Visa debit cards are being mailed to households this week, the U.S. The Economic Impact Payment (EIP) cards were issued by MetaBank, N.A. as part of the second round of COVID-19 stimulus money. The EIP cards will arrive by the USPS in a white envelope that “prominently displays the U.S.

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The Paypers

APRIL 17, 2020

Lulu Money has enabled debit card as a payment option for customers to remit money instantly, any time of the day.

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Cards Payments 28

PYMNTS

NOVEMBER 19, 2020

18) that today’s consumers seek money management that is like their own lives — a fast-moving “integrated experience.”. Citi Plex account holders will receive a debit Mastercard, an auto provisioned instant digital debit card. It helps you save money and gives you insights into your spending,” Sengupta said.

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PYMNTS

FEBRUARY 1, 2021

That gives us a hint as to what might happen with debit spending, in a trend that was well-evidenced through the latest (and ongoing) earnings season. Increases in debit spending helped to buoy results, overall. For the network giant, debit volumes were up 20 percent to $1.2 The issuers, too, have seen surges in debit spending.

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Cards Trends Payments Study 205

American Banker

JANUARY 3, 2024

Germany, traditionally a cash-heavy economy, is seeing a rise in debit card use. Meanwhile, Indian regulators accuse several crypto exchanges of violating anti-money-laundering rules.

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Regulation Cards Groups cryptocurrency 84

PYMNTS

JANUARY 23, 2020

The partnership starts with the SoFi Money debit card, an offering that will exist exclusively on the Mastercard network. SoFi’s card will provide an additional way for customers to spend with their SoFi Money cash management accounts.

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Los Angeles Cards ATM Payments 228

PYMNTS

NOVEMBER 27, 2020

More consumers than ever are turning to online shopping channels to meet their needs during the pandemic, but many are also aware that cybercriminals are looking to capitalize on this stepped-up online activity to steal their card data. Around The Next-Gen Debit World. Consumers are also thinking “virtual” when it comes to gift cards.

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Cards Security Tools Online 197

PYMNTS

JULY 1, 2020

But one thing is clear: Americans would be willing to dispense with their local bank and make Amazon , Apple or Google their primary payment account provider if those 21 st -century accounts allowed them to more easily manage and spend their money. Such an app could potentially involve as much as $2 trillion in card spending. .

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PYMNTS

JANUARY 22, 2021

PYMNTS January 2021 Next-Gen Debit Tracker® done in collaboration with PULSE , A Discover Company, notes, “Banks, government agencies and retailers have scrambled to adjust to consumers’ digital spending and payment shifts during the pandemic, but doing so swiftly has presented security challenges. Sensible Debit Needs To Be More Secure .

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Perficient

SEPTEMBER 29, 2022

Uber users input their payment information upon account creation, eliminating the need to dig through a messy purse or fumble through a wallet to find cash or a credit card to pay for a ride. By “cashing out,” earnings are transferred to drivers’ linked debit cards – all of this occurs without users having to leave the Uber app. .

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Customer Experience Software Cards Data 294

PYMNTS

DECEMBER 30, 2020

Debit has become exceedingly popular over the past year as social distancing and stay-at-home orders reduce consumers’ cash reliance and the ongoing economic decline and rising unemployment rates make them wary of taking out loans or leveraging credit. Cash users [shifted] to physical cards and the physical card users [shifted] more to.

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PYMNTS

JULY 7, 2020

Using credit cards (aka spending the bank’s money instead of your own) seemed so cool — until it suddenly wasn’t nearly as cool anymore. Then, just when everyone was really making money again, along comes COVID-19, wiping out the economy yet again, and within recent living memory no less. My Money, My Way.

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PYMNTS

JANUARY 22, 2021

Global payments firm MoneyGram is advancing its Visa debit card deposit service across Europe in a partnership with Checkout.com and continued collaboration with Visa’s real-time push payments platform Visa Direct. In 2019, MoneyGram was the first company in the industry to enable cross-border transfers from the U.S.

Payments 269

Payments Compliance Fraud Regulation 269

PYMNTS

SEPTEMBER 16, 2020

In today’s top news in payments around the world, WorldRemit has launched a WorldRemit Transfer Tracker mobile app, and SBM Bank India has introduced a premium debit card for high-net-worth clients with Mastercard. WorldRemit Debuts App That Tracks Money Transfers. Plus, Standard Chartered and Amazon.ae

Payments 171

Payments Cards Google Mobile 171

PYMNTS

MAY 28, 2020

The Internal Revenue Service ( IRS ) wants to make sure you don’t throw out your prepaid $1,200 government stimulus debit card. Many people have done that, thinking the cards are junk mail and discarding them, according to MarketWatch. On Twitter, numerous people have shed light on the issue.

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Cards Florida ATM Fraud 172

PYMNTS

SEPTEMBER 9, 2019

MoneyGram and Visa Direct have formed a strategic partnership to roll out a new debit card deposit service, the companies announced in a Sept. The person-to-person (P2P) money transfer option offers U.S. consumers a way to send money domestically through MoneyGram to a recipient’s eligible debit card. . “We

Cards 205

Cards Security Payments Company 205

PYMNTS

JANUARY 20, 2021

Bad actors have moved to take advantage of the rush to digital payments — particularly those made with debit cards — leaving banks and financial institutions (FIs) racing to keep them off their platforms. More Debit Payments, More Debit Fraud.

Security 130

Security Cards Mobile Fraud 130

PYMNTS

DECEMBER 23, 2020

The teenager with a Fortnite habit who manages to clean out Dad’s checking account via the debit card linked to the gaming account. They don’t really connect the purchases they’re making to the costs they’re incurring because they have no visibility into the charges they’re running up and don’t have a great concept of money.

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PYMNTS

FEBRUARY 4, 2020

Not willingly – unless you use a credit card at the POS terminal, that is, in which case you’ll pay the retail price plus 21 percent. It’s an easy trap to fall into when spending the bank’s money before your own. PYMNTS probes this fascinating topic in the inaugural Next-Gen Debit Tracker ®, a PULSE collaboration.

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South State Correspondent

AUGUST 10, 2023

A customer gets on their mobile phone to send a payment, and the dirty secret is we “memo post” that debit, changing the customer’s balance and making them think the money is no longer in the account. The reality is, of course, the money is technically there. Those four debits and credits are reduced to two.

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TheGuardian

MARCH 1, 2024

Thief went on £9,000 spree with the victim’s money before using her Uber account to travel to Stansted If you are one of those people who keeps their debit card in their mobile phone case, has a note of their pin on their handset, or only ever uses mobile banking, you may want to rethink your setup after you read the case of Sami Souret*.

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Lending Apple Mobile Cards 103

PYMNTS

MAY 28, 2020

The Internal Revenue Service ( IRS ) wants to make sure you don’t throw out your prepaid $1,200 government stimulus debit card. Many people have done that, thinking the cards are junk mail and discarding them, according to MarketWatch. On Twitter, numerous people have shed light on the issue.

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Cards Payments Florida ATM 163

PYMNTS

JULY 23, 2020

The release says the new program is meant to incentivize those who make payments on time and “choose to spend responsibly,” praising young people in the millennial and Gen-Z population who have made the choice to use debit cards and pay on time, “yet their responsible decision of spending their own money is not rewarded.”.

Payments 181

Payments Millennials Cards Retail 181

PYMNTS

NOVEMBER 16, 2020

For instance, if you go to a restaurant and you have a credit card, probably you will use it because it is more convenient than picking up your phone, starting a transaction or things like that,” Kavakama said. “We A merchant is not so much concerned about having the money at his accountant at the given second. Cash And Checks .

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Payments System Cards Fraud 328

PYMNTS

AUGUST 11, 2020

Revolut ’s website promises to deliver “All your money needs in one app.” Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad. The company posted a total loss of $139.6 million (£106.5 million) in 2019 — up from £32.9

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Payments Source

JANUARY 22, 2021

MoneyGram International is expanding its use of Visa Direct across Europe, allowing its customers to use the company website or mobile app to send money in near-real time to Visa debit card holders in various parts of 25 countries in Europe.

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Cards Mobile Company Payments 159

PYMNTS

MAY 27, 2020

has announced a new mobile-focused money management experience called Samsung Money by SoFi. Users can decide to open an individual or joint cash management account with Samsung Money by SoFi. The virtual card will immediately display in Samsung Pay at the time of approval.

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Samsung Management Mobile Cards 132

Bank Innovation

AUGUST 6, 2019

That tool automatically transfers money from checking to savings accounts after every debit card purchase, a product similar to the autosave features of personal finance startups and digital-only banks. KeyBank announced new offerings this week, including an automatic savings tool called EasyUp.

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Tools Innovation Cards Payments 186

Bank Innovation

JULY 8, 2019

Japanese mobile payments app Kyash is making a play for consumer wallets with a Venmo-style digital and physical debit card that handles merchant payments and peer-to-peer money transfers. Kyash claims its advantage over […].

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Mobile Payments Cards Company 199