New research examines the size and diversity of prepaid loads through card malls hosted in third-party retailers’ locations. The convenience and variety of cards offer consumers a way to buy gifts, access financial services, and obtain cell phone service. The total dollars loaded through card malls grew at a pace of 19% in 2013. This growth indicates the importance of the channel to shoppers and shows why prepaid providers should consider card malls as part of their overall prepaid distribution strategy. The report estimates of the market size in the United States for prepaid loads made through card malls hosted by other retailers and the diversity of cards and services prepaid card malls despite common perception as gift card malls. Prepaid card mailings include offerings from American Express, the Blackhawk Network, Discover, epay, Euronet WorldWide, Green Dot, InComm, MasterCard and Visa.
Global household payments via devices will soar significantly is being driven by a growing consumer acceptance of transactional digital banking, and the sharp rise in mobile banking adoption overall.
Ivory Coast consumers who use the MTN service can now receive a Western Union money transfer transaction directly on their mobile phones. MTN has more than 7.5 million customers in the country.
Issuers of all sizes are experiencing downward pressure on debit profitability. This is a direct result of changes in the regulatory environment, changes in the competitive market, and changes in consumer preferences, a new Mercator report finds.
Payza payment platform and services for ecommerce has taken the lead in the international Bitcoin market. The company is offering members the opportunity to withdraw funds from their Payza eWallets directly into their Bitcoin wallet. The Bitcoin payments are based on the exchange rate of both U.S. currency and Bitcoin value at the time of transfer. Payza consumer exchange rates will be locked in at the moment of the transaction. All transactions, no matter which of the 21 currencies Payza currently handles, will be completed using the U.S. dollar currency rate at the time of the transaction.
MasterCard MEA and Bloom Bank have teamed to add a new cardholder program to contribute towards removing mines and cluster bombs from all Lebanese territories. The “BLOM MasterCard Giving Card” is the first of its kind payment.
Citibank posts mixed results for the second quarter in its international Citi-branded card business. Card profits fell in all three regions.
GECU is bringing convenient, intuitive, and easy-to-use services across both its digital and physical channels through the innovative technology of NCR. GECU credit union provides its members with online and mobile digital banking services from Digital Insight, an NCR company, while also installing NCR Interactive Teller in new neighborhood branches. GECU has agreed to renew Digital Insight’s suite of SaaS solutions including Online Banking, iOS and Android mobile and tablet banking, Remote Deposit Capture, FinanceWorks and Purchase Rewards.Financial institutions are continuing to adopt mobile services as mobile banking becomes more popular. According to a Digital Insight study1, mobile consumers access their financial information 66 percent more frequently than online, non-mobile consumers. Additionally, consumers using online, mobile and tablet log in approximately 30 times a month compared to consumers who only use online banking and log in less than 10 times a month.2
Visa outpaces MasterCard in Gross Dollar Volume in the second quarter. Overall, Gross Dollar Volume growth was up significantly for both networks.
Oberthur Technologies (OT) signed an agreement to acquire NagraID Security SA. OT will acquire a 100% equity stake of NagraID Security SA from the Kudelski Group (SIX:KUD.S) and the company’s management.NagraID Security SA develops and markets powered display cards to secure access to the cloud, primarily for companies operating in the field of financial payments, authentication and identification solutions, using one-time password (OTP) or dynamic card verification value (DCVV, the 3 or 4 digit security code printed on payment cards) technologies.
HomeSend becomes the first international remittance provider to give users access to Indosat’s 24,000 locations and 60 million users. HomeSend is a joint venture created by MasterCard, eServGlobal and BICS.
Top Image Systems and BPM (Business Process Management) solutions and MIP (Mobile Imaging Platform) provider, announced a long-term transaction-based deal with Allied Payment Network to implement MobiPAY, TIS’ self-service mobile bill payment application, within PicturePay, Allied’s mobile photo bill pay solution. TIS will work with Allied, its customers and partners to enhance their user experience and continue to automate the bill payment workflow with our advanced MobiFLOW platform for end-to-end processing of bills and related documents.