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02.16.17

N.Y. Grants Global Cash Card Petition against Labor Dept. Paycard Regs

Payroll card providers that operate in New York can breathe a huge sigh of relief. Global Cash Card tells Paybefore that its petition against the New York Department of Labor payroll card regulations due to go into effect on March 7, 2017, has been granted. The industry had been raising red flags about the regulations, which many feared would result in providers exiting the market, since first proposed in 2015.

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02.16.17

PayPal Bolsters its Prowess in Cash Transactions with TIO Buy

Seeking to increase its foothold among customers who prefer cash, PayPal will spend approximately $233 million to buy Vancouver-based bill payment firm TIO Networks. The acquisition is not PayPal’s first move to gain the business of consumers using cash.

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02.16.17

Webinar Recap: How to Capitalize on Millennial Paycard Opportunity

More than 5 million U.S. millennials don’t have a checking account, and a third say payroll cards would be a valuable way to receive wages. With their distaste for traditional bank accounts and high level of interest in payroll cards, millennials represent a natural and significant market opportunity.

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02.16.17

CFPB Seeks Help in Tackling Thin-, No-File Challenge

In a Feb. 16 field hearing, the CFPB said it wants industry input on using alternative data to help thin- or no-file consumers build credit scores. It’s a challenge that many in the prepaid industry have been trying to solve for years to better serve cardholders who often are among the approximately 26 million U.S. consumers who don’t have a credit history and another 19 million consumers whose credit histories are insufficient to produce a credit score, according to CFPB estimates.

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02.16.17

Innovators’ Spotlight: Raise

The Chicago-based startup enables consumers to easily purchase and redeem e-gift cards right from their smartphones, essentially turning unwanted e-gifts into a convenient and useful form of digital currency.

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02.14.17

White House: CFPB Exempt from ‘1 In, 2 Out’ Rule

The CFPB is not required to comply with President Trump’s executive order limiting new regulations, according to a memorandum from The White House. Trump’s order—which requires covered agencies to repeal two regulations for every one new regulation adopted—does not apply to the CFPB, which is considered an independent agency.

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02.14.17

Virtual Piggy Crafts Mobile Wallet Product for Young Consumers

Pay Award-winning Virtual Piggy said Feb. 14 it soon will begin testing a mobile wallet for consumers age 17 and younger, the latest move in the parent-supervised world of mobile payments.

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02.14.17

On the Wire: Mnuchin Sworn in as Secretary of the Treasury; PFS to Manage Direct Payments; More

A snapshot of payments-related press releases, including product launches, partnerships and more, is available to you throughout the week.

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02.14.17

Vote for the Compliance Titans of Payments

Keeping current with the myriad and constantly changing rules and regulations in the payments industry is no easy feat. It takes special people who are sharp and determined to understand and navigate the legal minutiae and how they applies to their organizations or those of their clients. Paybefore is highlighting the achievements of these Compliance Titans, and we need your help.

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02.13.17

New Blackhawk Program Offers Same-Day Rebates for Utility Customers

Capitalizing on consumer demand for cashback rewards, Blackhawk Network has launched a new rebate processing solution that helps utility service providers offer a rebate consumers can receive on the same day of service via prepaid card.

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