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Card Not Present Fraud to Soar to $7.5B by 2020: Report
Counterfeit card fraud is finally on the way down as EMV creeps into the U.S. marketplace, but card not present (CNP) fraud through online channels is skyrocketing. It's too soon, however, to blame the EMV shift.  more »
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Despite having fewer prepaid cards in the market, Green Dot delivered a first quarter that exceeded its executives' expectations with $78.3 million in adjusted earnings. more »
Bloomberg News
Bitcoin payments company BitPay has partnered with the payments giant to launch a co-branded debit card allowing U.S. consumers to spend the digital currency at Visa merchants, more »
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RBC is giving up the revenue it gets from its $1-per-transfer service by offering free Interac transfers from all personal checking accounts, in effect betting that the relationship it builds with customers will be more valuable than its fee income. more »
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It’s rare to see much fanfare around the launch of a mobile banking app these days. But for the U.S. Treasury Department, this milestone signals it’s nearing the end of its long quest to modernize the delivery of federal benefits—even for consumers locked out of traditional banking systems. more »
Bloomberg News
Capital One's rewards and marketing may cause some short-term performance issues, but the institution's aggressive posture is necessary in the current environment, the company's CEO said. more »
Bloomberg News
The hurdles to broader EMV adoption in the U.S. have many causes, but to the consumer the end result is typically the same: A longer payment process with no immediate gain. more »
"There is still time on the clock so we are going to play and play hard until the rule is final and try and find a workable compromise," said Chuck Harris, president of prepaid card manager NetSpend.
The prepaid card industry is ramping up its advocacy efforts on Capitol Hill as the Consumer Financial Protection Bureau readies a final rule targeting such products. more »
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It didn't take long for debit card issuers affected by the Durbin amendment fee caps to cut back or eliminate rewards programs to recoup costs. Issuers now engaged in the increasingly competitive credit card rewards and loyalty environment may soon have to face that same decision. more »
The U.S. is "the largest chip card market in the world," said Visa CEO Charles Scharf.
There's plenty of criticism of the U.S. chip card migration, including its pace, the pressure on merchants to upgrade and the lingering confusion over how to use the cards. But Visa painted a more bullish picture of the migration. more »
Bloomberg News
Issuers still have a choice of whether to require PIN authentication for EMV-chip cards, but David Nelms, chairman and CEO of Discover Financial Services, says the chip-and-PIN path increasingly makes the most sense for U.S. payment cards going forward. more »
Green Dot Chief Executive Steve Streit
The public spat between Green Dot and one of its largest shareholders is escalating even as the shareholder raises its stake in the prepaid card company. more »
Bloomberg News
BBVA Bancomer is partnering with media giant Univision to launch a digital money transfer service for the Hispanic population in the U.S. more »