Prepaid cards

Gift card giant Blackhawk Network will be acquired by the tech investment firm Silver Lake, along with P2 Capital Partners, for $3.5 billion in a move underscoring investor interest in the shift to mobile digital technology, where Blackhawk devoted millions in recent years.

Prepaid2Cash has launched a mobile app enabling recipients of card network-branded gift cards to convert them to cash — targeting what the National Retail Federation says is nearly $30 billion in funds spent via gift cards in the U.S. during the holiday season.

The regulator on Thursday announced a delay in the implementation of its prepaid rule, along with safe harbor for HMDA data reporting.

Moments after the Consumer Financial Protection Bureau said it would reopen its mortgage disclosure rule, the bureau announced that the effective date for the prepaid rule would similarly be scrapped.

The U.K. challenger bank appeals to its customers to use a debit top up sparingly and for “last minute emergencies” since this feature will cost them around $30 per customer each year due to processing fees.

Boston’s Massachusetts Bay Transportation Authority has approved a $723 million overhaul of its fare system that would eliminate cash payments on buses and trains.

Visa is digging deep into the question of whether transit fare payments can influence habits in other settings.

India’s IDFC Bank and local mobile wallet provider MobiKwik are collaborating to provide a virtual prepaid Visa card for nearly 65 million MobiKwik users.

Over the years, Square has evolved from a supplier of simple card readers to a provider of diverse omnichannel services. But the consumer market has always eluded it.

Green Dot's financial performance has improved substantially over the past year, enough for the prepaid card issuer to raise its outlook for the rest of the year.

New York plans to dramatically digitize its subway system, phasing out its iconic MetroCard to install contactless tap-and-go technology, bringing a dose of the 21^st century to a system that dates to 1904 but often feels even older than that.

Certain prepaid debit card issuers that didn’t initially adopt EMV technology — because of a lower perceived security threat for these limited-use cards — are now going the EMV route.

ADP has purchased Global Cash Card, provider of electronic payments services, to consolidate operations in the payroll card industry.

Like all major and some tier-two U.S. payment processors, TSYS wants to participate in less competitive and higher growth markets overseas to sustain long-term growth, writes Eric Grover, a principal at Intrepid Ventures.

Hawk Incentives, Blackhawk Network’s incentive card division, now enables Mastercard prepaid cards distributed in promotions and incentives to be added to third-party mobile wallets like Apple Pay, Android Pay and Samsung Pay.

After five years of steady growth, U.S. consumers are pulling back on buying all types of prepaid cards — including retail gift cards — due to a combination of economic and consumer shifts.

Efforts to cut down on paper checks are one of the most significant factors driving the growth of prepaid cards that are used to pay employees.

The fusion of CashStar’s digital capabilities into Blackhawk Network is a logical progression given shifting consumer trends in shopping and gifting.

In a blending of online and offline strengths, Blackhawk Network Inc. has acquired CashStar Inc. for approximately $175 million in cash.

American Express Co. is selling its prepaid card technology to InComm Holdings as the largest U.S. credit-card issuer by purchases continues its shift away from down-market customers.