The UGO Wallet is here. In its initial release, UGO Wallet is available for use with eligible TD Bank credit cards and PC Financial MasterCard credit cards.
Semble will be using Gemalto’s Allynis Trusted Services Hub (TSH) to secure its mobile NFC services in New Zealand. Semble is a joint collaboration between major banks and all three operators in New Zealand serving as the aggregator for banks and service providers.
Russia and CIS payment services provider QIWI has inked a deal to acquire Money.Mail.Ru from Mail.Ru Group. Money.Mail.Ru is a payment service that allows users to make instant payments for goods and services via web interface or apps at any convenient time.
The number of prepaid card transactions in the U.S. is expected to top 12 billion this year, growing at a compound annual growth rate (CAGR) of 15.8% since 2009, according to CardData and the Federal Reserve.
Approximately 17% of American shoppers plan to open a store credit card to purchase a holiday gift this year. Overall shoppers anticipate spending $757.57 this year on holiday shopping, up from $721.96 last year.
While consumers globally are concerned about the financial loss due to payment fraud, their chief concern is the time required to fix the problems created by fraud. This was the top concern for 68% of respondents in the US, 60% percent in Canada and 51% in the UK.
The average Brit spends over 18 hours a year queuing, with local shops, post offices and supermarkets the worst contributors, and they get bloody mad.
US federal proposals released tighten regulation of the prepaid card market may spur a consolidation of small, high-fee prepaid issuers who may be less transparent or uncompetitive, while boosting low-cost, more transparent providers, according to Fitch Ratings. The new consumer-friendly rules should further bolster growth in prepaid card usage by enabling consumers to more easily make informed decisions on card fees and features. Among the many prepaid issuers in the US, fee structures can vary widely and standardized disclosures may push consumers toward lower cost, greater feature providers. We do not believe the new rules pose a serious threat to major card issuing banks, given underlying prepaid customer demographics and actions taken by banks to offer their own prepaid cards. Prepaid card account consumers are gaining new protections that move the cards nearer to having the same disclosure and reporting protections that credit card users enjoy. The total fees paid for prepaid credit products would not be allowed to exceed 25% of the credit limit. In an effort led by the Consumer Finance Protection Bureau, the protections would be promulgated under US Electronic Fund Transfer Act and The Truth in Lending Act of 2009.
Boston-based StreetSmart has unveiled the world’s smartest wallet which includes a built-in Bluetooth LE locator, USB sync cable and a backup battery station for charging on the go.
Paying bills in Mexico, Guatemala, El Salvador, Nicaragua and the Dominican Republic from the U.S. has been made much easier with the launch of Xoom Bill Pay.
CardWeb.com’s CardExecs database of payments industry mover and shakers today features Ralph Bianco, EVP and General Manager of JetPay Card Services.
Acculynk is acquiring the intellectual property (IP) of PayPlum, LLC, the first enterprise-class distributed PCI Compliance software solution focused exclusively on reducing the risk, costs and burden of safeguarding the acceptance and transport of sensitive payment card data within the online and mobile channels. Acculynk and PayPlum will form a strategic partnership whereby PayPlum will be a reseller of the enhanced solution to new and existing customers. The deal is expected to close shortly.Acculynk is acquiring PayPlum’s entire IP portfolio that includes a unique, patent pending messaging protocol technology to safely and securely accept and transport sensitive cardholder data and leverage tokenization and PCI scope reduction strategies.