The Central Bank of Brazil (BCB) is set to cap interchange fees for prepaid cards starting in April 2023, and it will also standardize the settlement term for debit and prepaid card transactions. Reuters reported Monday (Sept. 26) that the limit will be 0.7% for...
Chicago Mayor Lori Lightfoot on Thursday (March 31) announced Chicago Moves, a financial assistance program to give prepaid cards to residents dealing with transportation woes, a press release said. This makes Chicago the first and biggest major city in the U.S. to do this. Chicago...
How can eGifting be more enjoyable — the experience more exciting — than receiving a traditional digital gift card? “Historically, sending cash to somebody or a digital gift card is a pretty dry experience,” Suresh Bhat, co-founder and COO of Vouchr, told PYMNTS’ Karen Webster...
Prepaid cards have had a full year on the regulatory front, and the year isn’t over yet. Last week, the Credit Union National Association (CUNA) wrote the Consumer Finance Protection Bureau (CFPB) — the regulatory agency that authored the new prepaid card rules — asking for both a...
Lowe’s has added a prepaid solution for construction crews, using a platform from Fidelity National Information Services (FIS). PaymentsSource reported that while Lowe’s has long offered financing through its private-label credit card programs, this option is a poor fit for construction crews that need to...
Not everyone wants to use credit cards to grab miles in the sky while debt accrues on the ground. Netspend and United Airlines are linking to offer a prepaid card, letting users directly earn miles as they spend. Tammy Ting, VP of strategic accounts with...
Prepaid card provider Netspend and United Airlines announced in a press release the launch of the MileagePlus GO Visa Prepaid Card, the first prepaid card program in the U.S. that allows consumers to directly earn miles for qualifying purchases. This is good news for the growing...
The prepaid industry looks nothing like it did many years ago. With new technologies and even more use cases, prepaid cards are being used to deliver access to a wide range of payments, whether it’s from an employer or simply a gift card amount from...
As part of regulatory measures to crack down on the prepaid market, members of a U.S. Senate committee are putting Walmart, MasterCard and Green Dot leaders in the hot seat. This is a result of the prepaid debit card glitch that occurred last month when...
