Prepaid Cards

The parent company of major prepaid card issuer The Bancorp Bank on Wednesday disclosed that the bank had entered into a consent order with the Federal Deposit Insurance Corp. that places restrictions on its dealings with independent sales organizations. The order also prevents the bank in some instances from issuing …

A new type of gift card is set to debut this summer that will be backed not by cash but by shares of stock. The virtual card will come from a startup called Stockpile Inc., which has created a waiting list for interested potential accountholders and is planning to market …

American Express Co. deepened its prepaid card relationship with Wal-Mart Stores Inc. with Monday’s announcement that its Serve card will be sold in 4,100 U.S. Walmart-branded stores. The Walmart stores also will become part of Serve’s cash-reload network, boosting its location count to 19,500. Serve’s thus will become the biggest …

Less than a month after electronic gift card provider Gyft announced it was selling Wal-Mart Stores Inc. gift cards, they no longer are available. According to a report on Coindesk.com, a digital-currency news site, Gyft stopped offering Wal-Mart gift cards on April 13. Gyft provides electronic gift card services for …

  Merchant Warehouse Inc. has bought gift and loyalty provider Opticard and has plans to offer its services as part of bundled transaction services to merchants. Scottsdale, Ariz.-based Opticard, which will continue to operate independently, sells gift and loyalty card services to small businesses. Merchants can use Opticard programs to …

Cachet Financial Solutions Inc.’s acquisition of DeviceFidelity’s Moneto prepaid mobile platform will help open new markets for the remote-deposit capture company. n Remote-deposit capture is Cachet’s core business, Larry Blaney, executive vice president of sales, tells Digital Transactions News. But in the past two years client demand for services beyond …

Consumers wanting a way to make online payments with some anonymity may be able to use the new Pay in Private virtual prepaid card service available as an iPhone or Android app. n “It’s not a solution for everybody,” Klein tells Digital Transactions News. “It’s a solution for a segment …

The U.S. Treasury Department this month began soliciting bids from banks to run its Direct Express prepaid card for Social Security recipients and other beneficiaries. The card program is currently run by Dallas-based Comerica Bank and has encountered political controversy in Washington. Treasury’s Bureau of the Fiscal Service is taking …

It’s best known for its Gift Card Mall displays of retailer gift cards and other prepaid cards in grocery stores, but prepaid card services provider Blackhawk Network Holdings Inc. is a force in general-purpose reloadable (GPR) prepaid cards. It had a GPR business even before 2010, when it launched its …

Noting the success Starbucks Corp. has had with its prepaid card and mobile app, Mercury Payment Systems LLC figures the small merchants it serves would like to create a similar program but lack Starbucks’s considerable resources. To bring such a program within reach, the Durango, Colo.-based merchant processor this week …