Time to Get in the Gamification Game

Posted on May 7, 2018 by

Note to merchants and acquirers: If you haven’t considered gamification, you’re just not playing with a full deck as far as your business strategies are concerned. Gamification involves adding typical game-playing elements, like competition with others, point-scoring, and rules of play, to other activities. It has become an increasingly popular online marketing technique designed to…

Walmart’s New ‘World’: International Money Transfer

Posted on April 25, 2018 by

Walmart is going around the world—at least, when it comes to money transfer. The retailer has launchedWalmart2World, an international money transfer service, under terms of a partnership with MoneyGram. The service is said to enable wire transfer recipients to receive their funds in as little as 10 minutes. Walmart2World offers three money transfer options that…

Heads Up, Issuers: Time to Address Lost Opportunities

Posted on March 11, 2018 by

A technology startup called Switch Inc. believes it has a solution to the headaches faced by cardholders and merchants when issuers issue replacement credit and debit cards. This could well be the case, but news of the solution’s debut also sheds light on another hot issue pertaining to lost issuer opportunities. Let’s step back a…

PayPal Succeeds-and Flounders-on Road to Mainstream Digital Payment Status

Posted on March 2, 2018 by

In recent years, and more specifically since its spinoff from eBay in 2015, PayPal Holdings has undertaken a number of initiatives to join the ranks of mainstream digital payments providers. Some appear to moving the needle in the right direction, and others, not so much. On the positive side, PayPal appears to have learned from…

Contactless Cards: A Touch of Progress?

Posted on February 8, 2018 by

Could contactless cards finally be making headway in the U.S. market? It may be so. Merchant acceptance of contactless cards has, unquestionably, increased. According to Visa, seven of the top 10 U.S. merchants (ranked by transaction volume) currently take contactless payments. So, too, do 14 of the top 25 and 54 of the top 100…

Giving Credit Its Due

Posted on January 25, 2018 by

Rumors about the death of credit and credit card payments seem greatly exaggerated. Just ask the Federal Reserve. New data from the Fed indicates that credit card payments are on an upswing. The total number of such payments made in the U.S. rose by a healthy 10.2 percent in 2016 over 2015, reaching 37.3 billion…

Respect Your RFPs

Posted on December 26, 2017 by

Requests for proposal—commonly known as RFPs—are a staple in the workplace. By law, government agencies must publicly solicit bids through RFPs when they are in need of products or services, and most private entities also send out such proposals for the same purpose. But if you think RFPs are just inquiries about the price an…

Note to Issuers: Prep Now For FinCEN Customer Due Diligence Rule

Posted on November 13, 2017 by

May 11, 2018 is six months away, but prepaid card issuers need to start preparing for it now. That’s because the FinCEN Final Rule on Customer Due Diligence (CDD) goes into effect on that date — and there’s a lot of work that needs to be done behind the scenes beforehand. Under the rule, covered…

Is the EMV Liability Shift Raising ATM Fees? Could Be

Posted on October 11, 2017 by

Ka-ching! Merchants may be the ones grappling with credit card interchange rates, but when it comes to access to cash, it’s consumers who are paying the price. Just look at a recently released report from consumer research firm Bankrate. The report indicates that out-of-network ATM usage fees are up by 2.6 percent, to a nationwide…