6 Ways Mobile Is Absorbing Debit and Prepaid
March 18, 2016 9:57 AM
The earliest mobile wallets required consumers to use a stored-value account simply to overcome the wallet makers' lack of bank partnerships. Today, mobile developers are going a step further in using apps to unlock fresh potential for debit and prepaid cards.
Vedran Vukoja aka vepar5 vedran.
Interac Goes In-App
Canada's Interac debit network has rarely shied from innovation, and its new tokenization service is meant to facilitate its move into in-app purchases. The goal is to create a faster payment process for online and mobile commerce.
Musical Mozido
Andrew Harrer/Bloomberg
Uber Gives Green Dot a Lift
Uber's new Instant Pay service gives the ride-sharing mobile app's drivers a reason to sign up for prepaid card issuer Green Dot's GoBank account. With that account, Uber allows drivers to receive payments instantly, rather than the current system which provides weekly paychecks.
A Big Bank's Mobile Bet
Keith Tsuji
Mondo Combo
U.K. banking startup Mondo is working with Thames Card Technology to pair a debit card with its mobile app. Mondo's mobile-centric model places an emphasis on features like being able to block and unblock the plastic card from its app.
Cash Machine
Spain's Halcash offers a mobile gift card system that attacks one of the debit card's strongholds: ATM access. Pin4 lets users send digital gift cards that can be cashed out at an ATM that supports cardless access via a software upgrade.
