Prepaid cards

The prepaid card issuer has bounced back from the hit it took after discontinuing a product that proved to be popular with fraudsters.

Wirecard has gained a foothold in using virtual prepaid cards to streamline corporate payments across business units, platforms and borders for companies with sprawling operations. Now the German company wants to do the same for more U.S. companies going global.

In many instances, mass transit systems have proven to be catalysts for adoption of new payment technology, starting with the genesis of contactless cards for access to buses and trains in Hong Kong and Japan in the late 1990s.

About a decade after its launch, Cambodia-based mobile money provider Wing has added a virtual prepaid Mastercard to its platform, enabling its audience of unbanked and underbanked consumers to shop online.

Mick Mulvaney’s unapologetic memo to staff about the Consumer Financial Protection Bureau’s mission headlined a spate of developments this past week as he continues to transform the agency. Here are the key developments.

Kelley Knutson has been promoted to senior executive vice president of Total System Services Inc. and president of Netspend, the company's prepaid debit card unit.

Several banks won’t process cybercurrency transactions while others are reviewing their policies; agency promises flexibility to lenders.

The Consumer Financial Protection Bureau extended the effective date for its prepaid card rule to April 2019 and carved out an exception for arrangements where digital wallets are linked to a credit card.

The Consumer Financial Protection Bureau extended the effective date for its prepaid card rule to April 2019 and carved out an exception for arrangements where digital wallets are linked to a credit card.

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.