Paypal Joins Global Smart Card-Specifications Group

By PayPal Inc. March 09, 2009, 1:00 a.m. EDT 1 Min Read

IMGCAP(1)]

Processing Content

PayPal, the payment service owned by United States-based online auction firm eBay Inc., has joined GlobalPlatform, an international smart card-specifications organization. PayPal joins as a participating member, which gives the service a say in the group's activities, including in standards setting and mobile payments practices. Banks, transit agencies, governments and mobile operators have issued more than 305 million GlobalPlatform-based smart cards. The nonprofit group encourages interoperable smart card systems and offers free downloads of the specifications from its Web site. "The latest amendments to our card specifications aim to align GlobalPlatform smart card technology with Web services," Kevin Gillick, the group's executive director, says in a statement.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

M&A

Banco Santander inks $12.3B deal to buy Webster Financial

The Spanish banking giant, which has been trying to grow its U.S. business, plans to acquire the Connecticut-based parent company of Webster Bank.

By Allissa Kline

8h ago
IPOs

BitGo and PicPay go public in 'uncertain' fintech IPO market

The crypto and payment fintechs both debuted on the stock market in late January with strong openings, then traded down ahead of a four-day partial government shutdown.

By Melinda Huspen

9h ago
Politics and policy

Senators grill UBS execs over Nazi-accounts investigation

At a hearing Tuesday, executives at the Swiss banking giant faced tough questions from both Republicans and Democrats. The lawmakers are unhappy with the bank's recent decision to withhold certain documents from a lawyer who's overseeing research regarding Nazi accounts.

By Kevin Wack

9h ago
Fintech

NY fintech founder Gökçe Güven charged in $7M fraud case

Prosecutors claim the Forbes 30 Under 30 honoree maintained two sets of books to hide Kalder's actual revenue of just $60,000.

By Carter Pape

10h ago
Buy now pay later

Affirm shores up exclusive distribution deals ahead of earnings

The buy now, pay later lender is carving out a lane for itself with exclusive deals with Intuit's Quickbooks Payments and Expedia's websites. It also will be the default BNPL provider for Bolt's one-click checkout.

By Joey Pizzolato

February 3
Core systems

Banks say core provider power needs to be checked

Banking trade associations told the Office of the Comptroller of the Currency that regulators should reform rules around third-party risk, saying concentration and limited choice of core service providers places an undue burden on banks.

By Ebrima Santos Sanneh

February 3