Fintech

Prevailing wisdom suggests that prepaid cards are an alternative or, at best, a bridge to a bank account, not an overlapping product.

Citizens of Thiruvananthapuram in the Indian state of Kerala may pay their property taxes online under an initiative launched Feb. 22

Celcom Axiata Bhd. is teaming with Maybank Bhd. to enable Maybank’s subscribers to make immediate payments of their mobile bills, a spokesperson from the Malaysia-based mobile operator tells PaymentsSource.

U.S. credit card delinquencies fell about 32% in the fourth quarter from a year earlier, according to TransUnion LLC.

Target Corp.’s growth rate for activating new private-label credit and debit cards quadrupled during the fourth quarter after the company’s October introduction of a 5% point-of-sale discount on purchases made with Target-branded cards, Target executives told analysts Feb. 24.

Prepaid debit card marketer NetSpend Holdings Inc. is working with banks to broaden its distribution network beyond retailers and check cashers.

Fresh off of its Dec. 15 initial public offering, fleet card provider FleetCor Technologies Inc. on Feb. 23 reported net income of $17.5 million for the fourth quarter ended Dec. 31, down 30% from $25 million during the same period a year earlier. Total revenue rose 3.2%, to $106.5 million from $103.2 million.

The Bank of Tanzania and the Tanzania Communication Regulatory Authority have agreed to jointly oversee of the country’s mobile-payments market, an official at the central bank confirms to PaymentsSource.

NetSpend Holdings Inc.'s fourth-quarter net income grew 79% from a year earlier, to $6.3 million, as customers loaded more money onto its prepaid debit cards and spent more frequently.

Fidelity National Information Services Inc. said it expects first-quarter earnings to be below analysts' estimates.