Mobile Wallets

A day long dreaded by the U.S. payments industry came and went on Monday with little fanfare and not much more gnashing of teeth. The Consumer Financial Protection Bureau’s voluminous prepaid card rule finally took effect with sweeping provisions governing matters ranging from fee disclosures to error-resolution rights to consumers’ …

Apple Inc. has been working on a payment card product with Goldman Sachs Group Inc. for at least a year, and on Monday the computer company that did much to put mobile payments on the map announced the results of that collaboration. Cobranded with Goldman and running on the Mastercard …

Thirty-five merchants in the Silicon Valley area are accepting the new Yosemite Card, which caps acceptance fees at 0.3%. The private credit card can do that because it uses blockchain technology to manage transactions. Typical discount rates for network-branded credit cards range from 2% to 3% or more. Palo Alto, …

The eBay Inc. online marketplace is adding Google Pay as a payment option as it rolls out its new managed-payments platform to sellers. Google Pay will be activated in April and will be available via the app or mobile Web, and users will be able to use it on desktops …

As more and more companies adopt tokens as a proxy for the primary account number and other sensitive payment data, the day is fast approaching when the utility of the technology will move beyond the payments box. That’s the forecast from Nate Morgan, senior director for product management at CyberSource, …

The Federal Reserve announced the 22 members of its new Fraud Definitions Work Group, another component of its sweeping Payment System Improvement Project. The group, which comes from the banking and payments industries, regional Fed banks, and other organizations, will work with Fed leaders on recommendations for improving the quality …

Aliant Payments said it added Bob Moore Auto Group as a client for cryptocurrency processing. The agreement will allow the auto dealer to accept Bitcoin, Ethereum, and Litecoin for cars, parts, and service at its Subaru dealership in Oklahoma City. Thales S.A. said Gemalto will operate as a separate company …

As money movement gets faster, consumer expectations are increasingly pushing payments providers to make funds available sooner. PayPal Holdings Inc. on Tuesday bowed to that reality with the latest in a series of faster-payment services. The new service, called Instant Transfer to bank, relies on connections to real-time payments pioneer …

American vacationers flock every year to the scenic islands of the Caribbean, and some day they might be using a digital version of the East Caribbean dollar to pay for a Rum Punch or Ting With a Sting. The Eastern Caribbean Central Bank, the monetary authority for the eight-country Eastern …

Observers of the U.S. payments market who have been expecting a surge in conversions to dual-interface cards may have been disappointed Wednesday morning as CPI Card Group Inc., one of the nation’s biggest card manufacturers, said it expects “dual interface to grow gradually as a proportion of the U.S. market” …