Prepaid cards

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.

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.

Lowe’s has long offered financing through its private-label credit card programs, but for many construction crews, a corporate credit card is a poor fit for handling ongoing expenses.

The Pasadena, Calif., company reported net income of $19.3 million, up from $8 million in the same period a year earlier.

Indonesian online payments company KinerjaPay has opened a gift card center enabling consumers to purchase gift cards with bitcoin from major U.S. merchants including Amazon, Starbucks and Barnes & Noble.

Six states and D.C. still charge in-network fees when unemployed workers cash in assistance delivered through prepaid cards.

Vienna-based paysafecard, which enables unbanked consumers to make online payments using a service backed by a prepaid card, is expanding to the United Arab Emirates.

American Express is giving its card customers an easy way to transact in cryptocurrency.

The simplest scams are sometimes the hardest to thwart. Rather than redesign its prepaid card with added security, InComm is redesigning the packaging in a way that should render stolen cards unusable.

Prepaid payroll companies are delivering new functionality and processes that enhance cardholder experience, writes Tal Clark, senior vice president and head of Money Network at First Data.

Square has long been considered at the vanguard of digital payment innovation, so it may be a little unexpected to see the company take a step backward into physical card issuance.