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Prepaid Cards

Welcome to the News View for "Prepaid Cards".

Here, on these archive pages, you'll find all of the articles on Payments News for Prepaid Cards listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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April 21, 2014

American Express Expands Serve Distribution to Walmart

American Express announced that American Express Serve, its full service reloadable prepaid account, will be available for purchase at 4,100 Walmart stores nationwide. The Walmart stores will also become a part of Serve’s free cash reloading network - extending the network across 19,500 U.S. Walmart, CVS/pharmacy®, and participating 7-ELEVEN® locations.

By offering American Express Serve alongside Bluebird at Walmart, we’re expanding our portfolio of products to meet the needs of more Walmart shoppers,” said Dan Schulman, group president, Enterprise Growth at American Express.

“Bluebird is a great option for the “unhappily banked” who are looking for a true alternative to the fees and hidden charges often associated with debit and checking. With Serve, our full service reloadable prepaid account, we can now provide the nearly 70 million Americans who are unbanked or underbanked1 a simple and affordable way to move and manage their money.”

According to Aite Group, the addition of 4,100 Walmart stores across the U.S. to the American Express Serve and InComm free cash reload network makes it the largest network in the U.S.

Headline News from PaymentsNews.com - April 21, 2014

On the Web:

  • Mobile-Payments Startup Square Discusses Possible Sale - Wall St. Journal - "With losses widening and cash shrinking, representatives of mobile-payments startup Square Inc. have discussed a possible sale to several deeper-pocketed rivals, according to people familiar with the matter."
  • Facebook: Taking on PayPal with socially useful banking - The Independent (UK) - "As a new entrant to the financial-services marketplace, Facebook therefore has a huge advantage. It remains the go-to social network which gives it instant access to potentially millions of fed up UK bank customers."
  • The plot to kill the password - The Verge - "Since 2012, a group called the FIDO Alliance has been working on that standard, building a bridge between hardware projects like Samsung’s fingerprint reader and the online services they’re connecting to."
  • 8 Tools to Send Messages to Shoppers Based on In-Store Movements - StreetFight - "Here are eight tools that merchants can use to send offers or promotions based on their customers’ real-time indoor movements."
  • Using Bitcoin to Build a Better Common Law - The Umlaut - "The basic idea is to use multiple addresses per private key in order to make it harder to hijack your bitcoins."

On the Wires:

  • NetSpend, Western Union to Introduce Co-Branded Prepaid Card in the U.S. - “Combining the strengths of Western Union’s global brand and expertise in moving money with NetSpend’s deep prepaid knowledge and unique product capabilities, creates an incredible opportunity for us to better serve an underserved market,” said Dan Henry, chief executive officer of NetSpend.

Updates from Glenbrook:

April 03, 2014

Headline News from PaymentsNews.com - April 3, 2014

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March 18, 2014

Headline News from PaymentsNews.com - March 18, 2014

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March 17, 2014

Headline News from PaymentsNews.com - March 17, 2014

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March 07, 2014

Headline News from PaymentsNews.com - March 7, 2014

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March 03, 2014

Headline News from PaymentsNews.com - March 3, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8).

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Updates from Glenbrook:

February 27, 2014

Visa Introduces Prepaid Clearinghouse Service to Help Reduce Fraud

Visa 2014 logo 140x60Visa has announced a new Prepaid Clearinghouse Service - "a centralized database that allows financial institutions, processors and prepaid program managers to share prepaid card data such as enrollments, load funding, suspected fraudulent information and previously reported fraud on existing card accounts." Visa says the new service will provide information sharing to better identify and stop fraudulent enrollments, funding, use and other fraud schemes involving prepaid cards.

Visa’s Prepaid Clearinghouse Service will deliver a comprehensive compilation of prepaid account-level data from across the industry, which will help reduce prepaid fraud losses for consumers, financial institutions and their clients,” said Brian Triplett, SVP, head of North America prepaid products.

“Criminals are increasingly targeting prepaid products which more and more consumers are using for every day purchases. While existing laws and industry safeguards help limit most consumer losses, PCS is a huge step forward for the industry towards proactively preventing fraud schemes targeting prepaid cards.”

Prepaid Clearinghouse Service participants will have access to a "holistic view of prepaid fraud across the industry, enabling them to detect and protect their customers and their portfolios from fraud efficiently and effectively."

Reporting information into PCS will be required for all U.S. Visa-issuing financial institutions and program managers, yet PCS is capable of supporting multiple network-branded prepaid cards. All U.S. Visa prepaid issuing financial institutions and their program managers will be required to report into PCS by June 2015.

Visa's Prepaid Clearinghouse Service is modeled after Visa’s Issuers’ Clearinghouse Service (ICS), which was created to help reduce bankcard credit and fraud losses. All Visa-issuing members submit information on both fraudulent applications and consumer credit card applications for use during the application and underwriting process.

February 20, 2014

Headline News from PaymentsNews.com - February 20, 2014

The Kindle edition of our book "Payments Systems in the U.S. - Second Edition" - is now available in the Kindle Store as well as in an iBooks version for your iPad or Mac in the iBooks Store. The ebook versions are priced at US$9.99.

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January 23, 2014

Headline News from PaymentsNews.com - January 23, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

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January 21, 2014

Headline News from PaymentsNews.com - January 21, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

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January 14, 2014

Headline News from PaymentsNews.com - January 14, 2014

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Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

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January 10, 2014

Headline News from PaymentsNews.com - January 10, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

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January 09, 2014

Headline News from PaymentsNews.com - January 9, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

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Updates from Glenbrook:

January 06, 2014

Headline News from PaymentsNews.com - January 6, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

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December 13, 2013

MasterCard Introduces New Standards for Payroll Cards

MasterCard logo 140pxMasterCard has announced new standards it says are designed to help employees take full advantage of the benefits of having their paycheck electronically deposited onto payroll cards.

The new standards require employers and payroll card providers to offer cardholders greater insight on these programs through educational resources and increased transparency of any fees. Additionally, the standards ensure that employees have a fee-free way to access their pay and check available balances.

Payroll cards serve as one way to bring the traditionally underserved into the financial mainstream,” said Ron Hynes, group executive, Global Prepaid Solutions, MasterCard.

“These standards will help ensure that employees not only understand the choices available, but allow them to take advantage of benefits like direct deposit, online shopping and bill payment that have not been traditionally available to them.”

All new MasterCard payroll card programs will need to meet these standards as of July 1, 2014. Existing programs will have until October 1, 2014 to make any necessary adjustments.

December 05, 2013

Headline News from PaymentsNews.com - December 5, 2013

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December 03, 2013

Headline News from PaymentsNews.com - December 3, 2013

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December 02, 2013

Headline News from PaymentsNews.com - December 2, 2013

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November 21, 2013

Headline News from PaymentsNews.com - November 21, 2013

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November 13, 2013

Headline News from PaymentsNews.com - November 13, 2013

On Twitter:

On the web:

  • Stress Test Prepares VisaNet for the Most Wonderful Time of the Year - Visa Viewpoints - "This year’s “mug number” – as we like to call it – is 47,000 transaction messages per second, which is a huge step forward from 2012’s peak capacity of 30,000 transaction messages per second!"
  • No plastic, no problem: Square does away with deposit limits for U.S. businesses - GigaOm - "Square is eliminating holds on funds taken from payments where no physical card is present."
  • How Big Banks Killed a Plan to Speed Up Money Transfers - American Banker - "The plan, known as Expedited Processing and Settlement, may not have been a step into 21st Century..."
  • EMV: America, What Took You So Long? - Emerging Payments Strategies (FIS) - "So why has the U.S. not embraced EMV sooner? Part of the reason is because our fraud problem, while significant, has typically been among the lowest rates in the world among highly developed economically mature countries."
  • What Android's KitKat means for NFC - Mobile Payments Today (Cherian Abraham) - "HCE means a lot more for private label issuers — who have a very inspired base of merchants looking to bridge the gap between private label cards and mobile — and now there is an alternative to clumsy, costly and complex orchestrations for provisioning cards."
  • The power of love - TMG Blog - "When I switched credit cards recently, I started feeling love the first time I logged into my personal account page. I noticed that things I had purchased only minutes before were already listed, which was something I’d never seen with my previous provider."
  • The challenge of being a Bitcoin trader - Financial Services Club Blog - "There is not attainable indication that the government understands Bitcoin correctly."

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join Glenbrook's Carol Coye Benson and Scott Loftesness for our Glenbrook Payments Boot Camp on December 10-11th in Palo Alto, California!
  • Glenbrook's Jacqueline Chilton will be speaking social media and payments at the W.net Northern California LINC Networking event being held November 14 at Google.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

November 06, 2013

US Bank Introduces Contour Prepaid Card

USBank logo 140pxU.S. Bank has announced the U.S. Bank Contour Card - saying that the new card "gives customers the convenience of a debit card, the control of a bank account and the freedom of cash."

We continue working to give customers innovative options to manage their finances,” said Kevin Morrison, senior vice president for U.S. Bank Retail Payment Solutions. “The Contour Card is our latest example. It’s a great tool to manage expenses by giving you the power to budget your money across multiple prepaid cards under the same account. Customers can use Contour as their primary payment card, but it is also a good fit for anyone who wants a new way to manage money.”

“Contour gives you control over your spending in so many ways,” said Whitney Bright, market leader for consumer prepaid at U.S. Bank. “From tracking your spending to transferring money between accounts, Contour gives customers the ability to manage it all from one location through their personal My Contour Dashboard.”

Cardholders can open up to five additional card accounts that can be linked to their primary account. Cardholders can use Contour anywhere Visa Debit cards are accepted, get free cash withdrawals at any U.S. Bank or MoneyPass ATMs, and direct deposit paychecks to their accounts at no additional charge.

October 31, 2013

Headline News from PaymentsNews.com - October 31, 2013

On Twitter:

On the web:

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Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join Glenbrook's Carol Coye Benson and Scott Loftesness for our Glenbrook Payments Boot Camp on December 10-11th in Palo Alto, California!
  • Glenbrook's Elizabeth McQuerry will be speaking on New Payments Regulation in Brazil at the International Money Transmitter Conference in Miami, Nov 4-7, 2013.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

October 21, 2013

Blackhawk Network to Acquire Intelispend Prepaid Solutions

BlackhawkNetwork logo 140pxBlackhawk Network has announced that it has entered into a definitive agreement to acquire InteliSpend Prepaid Solutions, a provider in the corporate incentives and consumer promotions marketplace. The transaction is expected to close no later than November 8, 2013 and is subject to customary closing conditions including regulatory approvals.

"Blackhawk has become one of the largest third party providers of prepaid cards and payment solutions to consumers through its network of content providers and points of retail distribution. The acquisition of InteliSpend gives us a very strong entry into the complementary corporate incentives and consumer promotions channels," said Bill Tauscher, Blackhawk Network CEO.

"Together, we will be able to bring exciting new digital solutions into the corporate incentives industry in the U.S. and internationally, adding even more value for both InteliSpend's business customers and Blackhawk's content partners," he added.

InteliSpend is one of the largest providers of prepaid open loop incentive products. The company pioneered Restricted Authorized Network (RAN) technology and developed the DirectSpend product that enables clients to fine-tune the effectiveness of their incentives programs by controlling merchant acceptance and directing consumer spend.

October 08, 2013

American Express Serve Introduces New Features and Monthly Fee

Amex Serve 140pxAmerican Express Serve has announced a free nationwide cash load network and the addition of new money management capabilities to its full-service reloadable prepaid card accounts - along with a new monthly fee to begin in December.

The new features include: Direct Deposit, Bill Pay, Mobile Check Capture, Personal Financial Management Tools, and Reserve, which allows customers to put money aside for future expenses. American Express says these enhancements are "designed to meet the needs of the nearly 70 million Americans underserved by traditional financial services."

“Unfortunately, the traditional banking system is not easily accessible to large segments of the population, making managing money cumbersome and expensive for many,” said Dan Schulman, group president, Enterprise Growth at American Express.

“We launched Serve two years ago with the simple idea that consumers needed a better way to move their money. Today, we’ve added a number of new features to make the management and movement of money more affordable and convenient for everyone.”

Starting next month, American Express Serve customers will be able to take cash to the register at more than 14,000 participating CVS/pharmacy and 7-Eleven stores and add it to their American Express Serve Account. This is made possible through a relationship with InComm and its Vanilla Reload Network.

American Express Serve also announced it will start charging a monthly fee of $1 beginning December 3, 2013. The $1 monthly fee is waived if customers use Direct Deposit to load their account or add $500 or more to their account during a monthly statement period.

October 04, 2013

Headline News from PaymentsNews.com - October 4, 2013

On Twitter:

On the web:

On the wires:

  • BitPay Adds 10 Languages and 150 Currencies to its Bitcoin Checkout - "Merchants servicing international customers can now present bitcoin payment instructions in the buyer’s native language, allowing merchants to more easily conduct business in emerging markets."
  • City National Bank to Introduce FIS Cardless Cash Access at ATMs - "The solution enables consumers to interact with the ATM from the privacy and security of their mobile devices, stage a transaction before stepping up to the ATM and then receive an eReceipt for the transaction on their devices, eliminating paper receipts."
  • Sterling Bank Launches Prepaid Card Products - "...with prepaid cards, cardholders do not take on debt as they would with credit cards, and they are not linked to a deposit account like debit cards, meaning no overdraft fees can occur. These cards simply hold a balance of funds loaded onto the cards by the cardholders until purchases draw them down to a zero balance, at which point the cards can be reloaded with funds."

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

October 01, 2013

Headline News from PaymentsNews.com - October 1, 2013

On the web:

  • Coming Soon? An Occupy Wall Street Debit Card - New York Times - "The idea, led by a group that includes a Cornell law professor, a former director of Deutsche Bank and a former British diplomat, is meant to serve people who do not have bank accounts, but it also aims to make Occupy a recognized financial services brand."
  • How Much Will Judge Leon's Decision Whack DDA Revenues? - Pymnts.com (David Evans) - "The only ray of sunshine here for non-exempt debit card issuers is that between an appeal, maybe the Supremes, and a new rule making it could be a while before any of these reductions hit DDA and consumer banking P&Ls."

On the wires:

  • Global Payments Names Jeffrey S. Sloan Chief Executive Officer - "Paul R. Garcia, Chairman of the Board, said, "Jeff is prepared to lead this company as its President and Chief Executive Officer. His decisive leadership and his deep experiences and knowledge across the entire business uniquely qualify him to successfully assume this role immediately. He is well respected throughout the industry and he embodies the company's core values."
  • Experian to acquire device identification leader 41st Parameter - "41st Parameter will strengthen Experian's global web fraud detection and risk-based identity authentication capabilities."
  • Leaf Closes $20 Million in Funding to Advance Open Commerce Platform and Mobile POS - "Leaf, creator of the LeafPresenterTM, a tablet specifically designed for commerce, today announced it has closed $20 million in its first round of institutional funding from Heartland Payment Systems, one of the nation’s largest payments processors and a leading provider of merchant business solutions."
  • TNS and AJB Introduce Simplified Payments for Merchants - "Large merchants across North America can now relieve the headache of operating a complex payments infrastructure while at the same time position themselves for future growth thanks to a new managed service solution from Transaction Network Services (TNS) and AJB Software (AJB)."
  • Adyen’s Global Mobile Payments Index Indicates 27 Percent Growth in Mobile Transactions in Past Four Months - "Adyen's Global Mobile Payments Index tracks the actual purchases on the platforms and can therefore also provide an insight into the monetization of mobile content by brand. iOS devices (iPhone and iPad) accounted for nearly 75% of all mobile transactions on Adyen’s platform (which equals 13.1% of all transactions, up from 11% at the end of April 2013) and Android devices were responsible for nearly 25% of mobile transactions (4.3% of all transactions, up from 3.1%)."
  • mopay Signs Global Agreement with Telefónica Digital - "Under this agreement, mopay will be granted direct access to Telefónica’s billing platform, thus connecting mopay directly to the telco’s subscriber base worldwide. Consumers using mopay can purchase digital goods and services frictionlessly in nine countries where Telefónica Services are currently available and charge the purchases to their phone bill."
  • Debit Card Swipe Fee Reform Lowered Prices - "A new economic report released today by the Merchants Payments Coalition shows that debit card swipe fee reform saved consumers and merchants billions of dollars in 2012, as anticipated by Congress when it passed debit reform legislation in 2010."

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

September 10, 2013

Headline News from PaymentsNews.com - September 10, 2013

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August 21, 2013

Headline News from PaymentsNews.com - August 21, 2013

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August 08, 2013

Headline News from PaymentsNews.com - August 8, 2013

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