On the web:

• PayPal's Thompson on Cloud-Based Mobile Payments (Video Interview) - Bloomberg
• Mokipay Enables Mobile Payments in Lithuania (via NFC sticker) - ArcticStartup
• Mexico Remittances Rise the Most in 5 Years on Cheaper Peso - Businessweek
• PayPal to Open Global Operations Center in Malaysia - WSJ.com

On the wires:

• Braintree Now Processing $4 Billion Per Year
• Using MoneyGram to Send Money Now Supported Online at Walmart.com
• U.S. Bank Launches the New Visa Convenient Cash Card
• iovation and AliasLab Launch Fraud Protection and Device Identification Services to Southern Europe
• Travelex Introduces Chip & PIN-Enabled Prepaid Foreign Currency Card in Canada

Travelex Global Business Payments has announced the acquisition of Pay 24-7, "online payments technology used by leading universities and higher education institutions in the UK, North America, Europe and Asia. The online payments technology is specifically designed to reduce the banking and the administrative cost associated with collecting fees from overseas students and enables a speedier payments process for both the student and university."

Travelex Global Business Payments and Bean Services, an "award winning Software-as-a-Service (SaaS) Accounts Payable Automation solution, today announced a partnership intended to provide companies with streamlined end-to-end payables processing."

Travelex Global Business Payments has announced that "their business customers will now be able to trade in Chinese renminbi through Travelex’s unique GEO Global Clearing Network. Travelex will be the first non-bank Payments Specialist to offer business transfers in renminbi, the official currency of the People’s Republic of China."

MasterCard has announced that it purchased the prepaid Card Program Management (CPM) operations of Travelex for US$458 million in cash, with an earn-out of up to an additional US$55 million if certain performance targets are met.

MasterCard is acquiring the Travelex operations that manage and deliver consumer and corporate prepaid travel cards to business partners around the world, including financial institutions, retailers, travel agents and foreign exchange bureaus. These operations also manage cross-border payroll, per-diem and expense-management prepaid cards for corporations. MasterCard has no plans to issue cards directly as a result of this transaction.

As part of the transaction, MasterCard and Travelex signed a long-term contract whereby MasterCard will provide program management services for the Travelex Cash Passport prepaid card sold through Travelex stores and online channels.

Travelex has announced availability of "America’s first prepaid foreign 'currency cards' available in Euros and British Pounds that utilizes chip & PIN technology." Travelex’s new Chip & PIN Cash Passport™ MasterCard provides Americans traveling abroad with technological compatibility with overseas merchants that have migrated towards chip-based transactions. The card will also include a traditional magnetic stripe, for those merchants not yet using Chip & PIN technology.

Travelex has announced an agreement with Monitise to launch mobile services for its 1.75m global Cash Passport cardholders. Cash Passport, a prepaid travel money card available in seven currencies, offers a secure and convenient way to carry money overseas. Cardholders can use their Cash Passport to pay for things and withdraw cash, just as they would with any other card, but without charges for use overseas.

Travelex and Monitise are developing an application which can be downloaded to the cardholder’s handset, allowing them to check their balance at any time, reload the card by mobile and also set up other alerts. The service will launch next year with a low balance alert, reminding cardholders to reload. READ MORE »