Sunday , October 22, 2017

Prepaid Cards

Blackhawk Network Plans To Sell its Cardpool Gift-Card Exchange Business

Prepaid card services provider Blackhawk Network Holdings Inc. disclosed Wednesday that it plans to sell its struggling Cardpool business. That news came as Pleasanton, Calif.-based Blackhawk reported a loss of $7.8 million for its third quarter ended Sept. 9, bigger than the $5.1 million loss in 2016’s third quarter. Third-quarter …

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Looking to Extend Its Digital Gift Card Business, Blackhawk Snaps up CashStar

Blackhawk Network Inc., a major player in merchant-branded prepaid cards, just gained an even bigger foothold in that market with its $175-million, all-cash acquisition of CashStar Inc., a 10-year-old firm specializing in digital gift cards. Announced Wednesday morning the dealbrings to Pleasanton, Calif.-based Blackhawk a platform enabling mrchants to market …

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AmEx Exits Prepaid Card Program Management With Platform Sale to InComm

The pending sale by American Express Co. of its Serve technology platform to prepaid card program manager InComm moves AmEx more toward the model used by most other general-purpose prepaid card issuers and still keeps the upscale AmEx brand involved in a business mostly oriented toward moderate- and lower-income consumers, …

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Payments Players Urge Further Delay of the CFPB’s Huge Prepaid Rule Until 2019

While the Consumer Financial Protection Bureau is working toward an April 1, 2018, effective date for its massive rule for prepaid accounts, prepaid card industry advocates are urging the agency to further delay the rule by another year. In a comment filed this week with the CFPB, which regulates all …

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First Data and Fleetcor Technologies Scuttle Their Planned Prepaid Pair-Up

Citing possible regulatory hurdles, payment processor First Data Corp. and commercial payments provider Fleetcor Technologies Inc. disclosed Thursday that they have canceled the planned joint venture they announced in March to consolidate their gift card businesses. “While both companies believe the proposed joint venture would provide significant benefits to customers …

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CFPB Considers Another Prepaid Rule Delay and other Digital Transactions News briefs

• Blockchain startup Circle Internet Financial Ltd. announced it has eliminated fees and foreign-exchange markups on money transfers among senders and receivers in the United States, the United Kingdom, and Europe. The transfers are also occurring with instant effect, the company said.

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