Green Dot Swallows the RushCard Prepaid Products for $150MM+

Prepaid card king Green Dot has inked a deal o acquire UniRush. The Company’s operating businesses include the RushCard, an online direct-to-consumer general purpose reloadable prepaid card provider, and Rapid! PayCard, a corporate payroll card provider. The acquisition, which maps to “Step Five” of Green Dot’s “Six Step Plan” to enhance shareholder value, materially expands…

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Loyalty One CN-Driven Redemptions Kill Alliance Data Systems Q4 Profits

Dallas-based Alliance Data Systems (ADS) reported fourth quarter (4Q/16) year-on-year (YOY) profits sunk due to new legislation in Ontario prohibiting the time-based expiration of reward points associated with all loyalty programs. The cancellation of its 5-year expiration policy necessitated a change in ADS breakage estimate, according to CardData. ADS reported gross revenue rose 4.5% YOY…

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Biometric Authentication is Unstoppable in Replacing Passwords

A new research report says biometrics will take over passwords the next ten years. The Mercator Advisory Group titled Biometrics: A Market Forecast for Consumer Adoption provides predictions out to 2025 for the penetration of the U.S. market by mobile devices that implement the hardware required to support biometrics, the market availability of persistent biometrics…

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China and Jack Ma Take Over U.S.-Based MoneyGram & its P2P Services

MoneyGram, a provider of innovative money transfer services, and Ant Financial Services Group, one of the leading digital financial services providers and parent company of Alipay, a global mobile payment platform, inked a deal to merge. The transaction will connect MoneyGram’s money transfer network of 2.4 billion bank and mobile accounts and 350,000 physical locations…

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Ukraine Anoints Edinarcoin as a Legitimate Cryptocurrency

Edinarcoin has managed to prove that cryptocurrency E-Dinar Coin is an official means of payment. The Administrative Court of Appeal of Ukraine has adopted a decision on the legalization of the decentralized cryptocurrency and approval of its legitimate and legal status. We are talking about E-Dinar Coin (EDC). The cryptocurrency is not subjected to fees…

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While Losing Marketshare BofA Holds Stable Q4 Credit Card Performance

The nation’s third largest Visa and MasterCard issuer continued to struggle in the fourth quarter (4Q/16) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, remain fairly stable, according to CardData. Pre-tax net income edged down 1.8% YOY to $1290 million in 4Q/16, compared to $1218 million in the prior quarter…

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Cost-Optimization Levers Helps Buyers of Network Payment Services

The global network payment services market is expected to witness momentous growth at a CAGR of 7.7% over the next five years due to the widespread adoption of digital payment solutions by not just businesses and consumers, but also the government, banks, and financial institutions. The research report titled ‘Global Network Payment Services Market: Procurement Intelligence…

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Synchrony Inks Belk Credit Cards with Retailer Rewards

Synchrony Financial, and Belk, a private department store company, inked a multi-year renewal of Synchrony Financial’s consumer financing program. Belk operates department stores in 16 Southern states as well as belk.com and offers a wide assortment of national brands and private label fashion apparel, shoes, and accessories. Synchrony Financial has provided a consumer financing program…

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