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04.20.17

CFPB to Delay Final Prepaid Rule by 6 Months, ‘Revisit’ Aspects with New Proposal

It’s official. The CFPB is pushing back the effective date of its final rule on prepaid accounts until April 1, 2018—six months after the originally scheduled implementation date of Oct. 1, 2017. What’s more, the agency has decided to “revisit at least two substantive issues” in the final rule: requirements for digital wallets that are capable of storing funds; and error resolution and liability limitations for prepaid accounts that cannot or have not yet been registered.

04.20.17

Mastercard, Merchants Launch Masterpass-Enabled Bots

Hungry Facebook Messenger users can order a meal, do their grocery shopping or send a gift card for a sweet treat without leaving the messaging platform. Mastercard announced April 18 at the Facebook Developer Conference that it has launched Masterpass-enabled, artificial intelligence-powered chatbots with Subway, FreshDirect and The Cheesecake Factory.

04.20.17

Blackhawk Beefs up Specialty Gift Cards with Grocer Albertsons

Blackhawk Network has launched a gift card program with grocery chain Albertsons that promises to give shoppers more options for “spring and summer holidays” such as Mother’s Day and Father’s Day, Blackhawk said. The program focuses on category gift cards that run via the Visa payment network.

04.20.17

On the Wire: Peoples Trust Rolls out Spending Account; Hyperwallet Targets Gig Economy; Icon Offers Real-Time Payments; More

A snapshot of payments-related press releases is available to you throughout the week.

04.18.17

Ant Wins MoneyGram Board Approval after Upping Bid to $1.2 Billion

China’s Ant Financial Services Group appears to have beat back a surprise challenge by Euronet Worldwide to acquire MoneyGram. After raising its offer for the money transfer giant by more than one-third, to $1.2 billion, Ant’s bid has earned the approval of MoneyGram’s board of directors. But the deal still must win regulatory and shareholder approval before Ant officially acquires MoneyGram and gains a massive foothold in the global remittance market.

04.18.17

Zelle Makes Presence Known in P2P Arena

The recent performance of Zelle Network, the P2P payments platform with the funny name, is no laughing matter for competing P2P providers. Early Warning Services, a provider of real-time payments, authentication and risk mitigation services, announced April 17 that its Zelle Network processed more than 170 million P2P payments in 2016, totaling $55 billion in transaction value.

04.18.17

Simple’s Move to a New Bank API Leaves Some Customers Stranded

Pay Award-winning Simple, the Portland, Ore.-based branchless bank founded in 2009, has discovered that moving accounts to its parent bank’s application programming interface, or API, is not that simple.

04.18.17

Intesa Sanpaolo, EBA Clearing Complete Pan-European Instant Payment Test

Italy’s largest retail bank, Intesa Sanpaolo, and EBA Clearing have successfully completed their first user testing activities on financial technology provider Dovetail’s solution for EBA’s pan-European real-time payment platform.

04.17.17

Global Payments Launches Mobile Payments, Access Platform for Campuses

A year after diving into the campus card vertical with the $4.3 billion acquisition of Heartland Payment Systems, Atlanta-based technology provider Global Payments has unveiled its new TouchNet OneCard VIP service, which the company describes as a single point of access to campus life.

04.17.17

Google’s Android Pay Gets a Hand from Banks

Google is banking on mobile apps to boost its mobile wallet. The Android Pay parent has linked that service to a handful of banking apps, giving consumers the ability add their cards more quickly to the mobile wallet.