Prepaid cards

As millions of U.S. consumers are beginning to see stimulus checks electronically deposited into their bank accounts as part of the CARES Act, many companies are wondering how Americans will spend these funds.

CaixaBank and Global Payments are building on a series of partnerships to build a joint prepaid venture in Europe.

The Consumer Financial Protection Bureau wants to make it easier for those who lack bank accounts to receive pandemic relief payments authorized by Congress.

Suneera Madhani, CEO of the digital acquirer Fattmerchant, tells PaymentsSource how the coronavirus pandemic has affected how her employees go to market with new payments technology — and how making the shift to digital helps both the acquirer and its clients.

Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.”

The U.S. Treasury is talking to digital payments providers about quick ways to disburse funds to recipients of stimulus checks within a couple of weeks, but payments industry experts foresee troubling security issues even with most of the obvious options.

The agency has relaxed some reporting requirements and joined other regulators in encouraging banks to help borrowers, but pressure is building on the bureau to do more to aid consumers suffering financial hardship.

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.

Former NetSpend CEO Dan Henry has been named as the CEO of Green Dot, the Pasadena, Calif.-based prepaid card issuer and banking company.

It’s a rare occurrence for a business to receive a huge business spike while also shutting parts of the operation, but that’s where the coronavirus has landed Farmstead.

London mobile point of sale fintech SumUp has launched a prepaid business Mastercard to its line of small business products.

The U.S. telco sector has worked hard to control the mobile wallets developed on its phones. While its earliest efforts didn't last long, companies like T-Mobile and Sprint took decidedly different paths to reach where they are now.

Activist investor Starboard Value has built a position in Green Dot Corp. and may push for changes including a potential merger at the prepaid debit card company.

NatWest is partnering with prepaid card and business expense management provider Soldo to provide loans and working capital directly to Soldo's prepaid card users.

Mastercard has appointed Raj Seshadri as president of its data and services organization, succeeding Kevin Stanton, who starts a new role as chief transformation officer.

Comerica Bank won another five-year contract from the Treasury Department to run the prepaid Direct Express card program despite criticism of how it handled past fraud cases and customer service blunders.

Comerica will continue to handle the U.S. Treasury’s Direct Express prepaid card program, beating out other banks for the third time since the program launched in 2008, despite a high-profile glitch in 2018 that drew lawmakers’ scrutiny.

The prepaid card pioneer's banking-as-a-service platform might make it an attractive acquisition for an enterprise technology giant or bank, analysts say.

Steve Streit, who founded the prepaid card pioneer Green Dot and spent two decades as its chief executive, has announced plans to retire as part of a shakeup at the top of the company.

Steve Streit is retiring as part of a shakeup in the firm's management ranks. The Pasadena, Calif.-based company that he founded in 1999 has been suffering amid new competition from challenger banks.