CFPB Should Incent Prepaid Issuers to Offer Credit
I would encourage the CFPB to focus their energies on advancing the road to credit concept instead of focusing on how to restrict credit.
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Seth Priebatsch, founder and CEO of LevelUp
Cardpool is partnering with SCVNGR's LevelUp to give consumers an alternative way to spend unwanted gift cards. more »
Jo Webber, chief executive officer of Virtual Piggy/Oink
Virtual Piggy, which provides the Oink online wallet service for their youths, will release a prepaid Discover card to extend its offering to retail stores. more »
Image: Bloomberg News
Square, which made a short-lived attempt at digital gift cards in late 2012, is debuting a new gift card service today with a heavy emphasis on an older payment instrument: plastic. more »
Blair Jeffrey, senior vice president of sales and business development for PreCash's Evolve Money.
A week after making Discover the first credit card offered in its mobile bill-pay service, PreCash Inc. has already seen a spike in the use of Evolve Money, which previously accepted only debit cards. more »
"The proposed rule doesn't completely ban overdraft features on prepaid cards and that's one place where we will be urging the bureau to go a little bit further," said Lauren Saunders, associate director of the National Consumer Law Center.
Consumer groups said that the Consumer Financial Protection Bureau was too soft in its prepaid card plan, arguing that it should have required more on upfront disclosures, banned overdraft charges, and completely severed prepaid cards from being tied to other types of credit. more »
Image: iStock
Kim Kardashian
Kim Kardashian may be an overexposed reality star, but she's also a tech entrepreneur with a short-lived past in the payments industry. And several companies in the Bitcoin space are repeating her biggest mistake by offering a plastic payment card. more »
Xapo, a bitcoin startup headed by financial services entrepreneur Wences Casares, is launching its wallet app on iOS, a move that shows the company has turned some attention to ease of use. more »
Image: Thinkstock
The Consumer Financial Protection Bureau is set to go beyond industry expectations when it unveils a long-awaited proposal Thursday that would establish new requirements for prepaid cards. more »

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