Prepaid cards

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.

The prepaid card industry already succeeded in getting one delay for complying with new Consumer Financial Protection Bureau rules, and at least one top prepaid card issuer is now requesting additional rule-changes and an extra year to comply.