NetSpend, a TSYS Company, announced it has joined forces with Western Union to develop an innovative co-branded prepaid card, available later this year. “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
MasterCard has announced that it has entered into an agreement to acquire Pinpoint Pty. Ltd. (“Pinpoint”) , a leading provider of loyalty and rewards services to financial institutions across the Asia Pacific region. This acquisition is expected to close in the second quarter of 2014. Pinpoint, which was founded in 1984 and headquartered in Sydney,
Datacard Group has announced a second-generation Datacard MX Series Vision Verification Module that is designed to automatically ensure proper card stock is loaded prior to card issuance as well as verify printed elements after personalization is complete. This technology complements the numerous checks and balances already in place as the card passes through the personalization
A recent poll by leading marketing research firm GfK reveals that almost nine in ten (88%) US consumers are at least “a little” concerned about the privacy of their personal data. One in three consumers also reports being directly impacted by misuse of personal data within the past year. The poll, conducted last month, collected
MasterCard has announced the licensing of Guaranty Trust Bank (GTBank) to issue MasterCard debit, credit and prepaid cards in Kenya. The collaboration is expected to increase the adoption of electronic payments in the country, especially in the retail banking sector. James Wainaina, Vice President and Area Business Head, MasterCard East Africa said: “MasterCard’s vision for
Purchases for goods and services from merchants worldwide in 2013 grew by $2.786 trillion or 22.0% to $15.422 trillion. The most popular payment method based on purchase volume were UnionPay debit cards, which for the first time surpassed Visa credit cards and Visa debit cards, according to the annual report, Global Cards, published in the
Bank of America Merrill Lynch, a leader in card services has announced that it is expanding chip and PIN technology to all purchasing and travel credit card products available to clients in the United States. This is the latest development in the company’s ongoing effort to rollout EMV (EuroPay Mastercard Visa) technology to its global
First Data and MasterCard has announced an agreement in which First Data’s STAR Network will participate in MasterCard’s common U.S. Debit EMV solution. This agreement, combined with other recent industry announcements, provides a cost-effective solution and accelerates the ability for EMV functionality to be implemented across the U.S. EMV/ chip cards better protect account information
MasterCard reported a growth of 40% in gross dollar volume, or GDV, for its prepaid card business across Asia/Pacific, Middle East & Africa (APMEA) for 2013 (y-o-y). This strong growth was fuelled in part by significant partnerships announced over the last couple of years in the region, such as: The OneSmart dual-faced loyalty and prepaid
Following concerns raised in the Competition Commission Bank Enquiry Report regarding interchange fees, the South African Reserve Bank initiated the Interchange Determination Project in 2011 to review interchange rates applied in all relevant payment streams. Two payment streams were selected for the initial phase of the project, namely ATM and all card-related streams. The card
