General-purpose reloadable prepaid cards have turned a corner, moving from being a product for low-income or unbanked individuals to being an important tool for younger, high-income consumers.
Apple Pay is a watershed moment that will do more to stimulate mobile commerce than the sum of all previous efforts. But it also has an impact on branding that should make it part of a broader mobile menu for banks and retailers.
Barry McCarthy has a number of new jobs First Data, giving him a wide view of the pressures facing payment processors in a world where massive volumes of plastic card swipes are no longer enough to ward off the competition.
An Israeli company is hoping to make installment plans a routine part of credit card transactions in the U.S., relying on retailers, banks and other partners to promote its technology.
New York regulator Benjamin Lawsky may use the cybersecurity rules he's proposed for virtual-currency companies as a model for traditional banks. That would subject the financial institutions his agency supervises to the most stringent data-security rules anywhere.
Bitcoin adopters in Ohio have been some of the most vocal about how state laws need to evolve to encourage the use of digital currency, but the Ohio government seems to want that change to come from the courts rather than the legislature.
An executive order signed by President Obama on Friday that mandated the adoption of chip and PIN technology in government cards and enabled its use in facilities like Post Offices is a "meaningless gesture" that smacks of politics over substance.
The perception that Africa is behind the times when it comes to the payments industry is an interesting one. It is easy to assume that the continent as a whole is still cash-based with large rural unbanked areas widespread across the region.
Digital currency startups are trying to reframe the debate surrounding customer privacy, anti-money-laundering compliance and data security by backing a new set of guidelines for managing consumers' online identities. read more »