News Topic: Mobile payments

Facebook Inc. unveiled a new group to pursue payments and commerce opportunities and put David Marcus, co-creator of its Libra cryptocurrency project, in charge of the initiative. ... Read full article

The pandemic’s physical distancing requirements appear to have accelerated transaction volume and overall usage of Zelle, the P2P app operated by bank-owned Early Warning Services LLC. ... Read full article

Whether they take the form of a mobile wallet or a touch-free credit card, contactless payments are poised to take off as consumers — wary of using terminals and ATMs or handing cards back and forth — change their habits. ... Read full article

Criminals developing EventBot malware built it to take advantage of businesses and humans turning to mobile banking and payments in the current coronavirus crisis — but also to update itself on the fly to become more insidious in the future. ... Read full article

The agency will allow institutions providing 500 or fewer transfers a year to estimate costs in consumer disclosures rather than quote exact figures. ... Read full article

The modern-day payment system was, over the last two decades, tailor-made for the shelter-in-place conditions many now live and work under today. ... Read full article

Former NetSpend CEO Dan Henry has been named as the CEO of Green Dot, the Pasadena, Calif.-based prepaid card issuer and banking company. ... Read full article

Banks, especially smaller ones, are more worried about the competitive inroads that Apple Pay, Venmo and others have made than they are about tech companies' incursions into other financial segments, according to a new survey by Promontory Financial. ... Read full article

The Fed can take steps now to speed up existing networks. ... Read full article

For banks and other financial institutions to survive and thrive in the age of mobile payments and e-commerce, they need to continue to enhance their mobile apps with more innovations, tighter security features and more time-saving capabilities. ... Read full article

The city would join San Francisco and Philadelphia among cities that prohibit stores and restaurants from only accepting electronic payments. ... Read full article

The new Karma Points card donates 10% of revenue to charitable funds established by the company that help people living on the street. ... Read full article

Banks are increasingly sharing data and must brace for new regulations protecting that data. ... Read full article

With customers now having the opportunity to onboard across multiple devices and channels, or even through a call center, the likelihood of an inconsistent experience is drastically increased, Neal Keene of Intelledox says. ... Read full article

Stephen Ranzini, CEO of University Bank, says The Clearing House's RTP and Early Warning's Zelle handle enrollment, encryption and authentication insecurely. ... Read full article

Bryce VanDiver and Daniela Hawkins at Capco make the case that offering easy-to-use payment rewards is the way to win the loyalty of digital-only customers. ... Read full article

This summer, an international electronics company completed a $1.6 billion payment by mobile phone, the biggest transaction ever on the bank's CashPro app, according to Bank of America. ... Read full article

Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees. ... Read full article