Prepaid cards

General-purpose reloadable prepaid cards have turned a corner, moving from being a product for low-income or unbanked individuals to being an important tool for younger, high-income consumers.

American Express Co. is pulling new levers to build its business with small merchants and drive mobile wallet adoption, emphasizing its work with Apple Pay.

American Express Co. said third-quarter profit rose 8.1 percent, beating analysts' estimates, as customer spending increased.

American Express Co. customers whose reward points are too meager for flights, ballet tickets or even a yoga mat are getting a new list of options: a McDonald's menu.

Mobile wallets, at their most basic, enable consumers to manage their accounts and/or make purchases without cash or cards. On top of that foundation, many companies have come up with inventive features to set their apps apart.

Providers of rapidly changing payments products such as prepaid cards, automated payments and dispute resolution are continuing to turn to independent sales organizations to reach targeted merchants.

Small businesses can be hard to reach with new payments technology, so the Small Business Payments Co. (SBPC) is incrementally adding functions in an attempt to ease automation.

Nearly two decades ago, Federal Reserve Bank of Boston's smart card program became a key means to eliminate the inefficiencies of cash use among military personnel. The payments industry has evolved substantially in that time, requiring the military smart card program to keep pace.

By hiring former American Express executive Dan Schulman to lead an independent PayPal, the company is betting that his expertise — bringing innovation to a well-established international payments company — can ensure PayPal's survival.

InComm will work with the Merchant Customer Exchange to support digital gift card and loyalty programs for retailers, while also expanding MCX's CurrentC mobile wallet to more locations.

Wal-Mart is both a powerhouse in retail and a pioneer in financial services. The company has championed numerous initiatives in prepaid and mobile payments, and it has also been quick to push back on technologies it does not like.

The prepaid card company Blackhawk Network has agreed to acquire Parago, a customer engagement firm, for approximately $290 million.

Wal-Mart Stores Inc.'s deal to distribute Green Dot Corp.'s mobile checking account, GoBank, signals a fundamental change in how both companies approach their audience.

SpendSmart Networks has purchased the e-commerce solutions division of TechXpress and plans to integrate the company's online and mobile services with its existing loyalty program offerings.

The Swedish mobile payments company Seamless has agreed to acquire Ingram Mobile Mobility's prepaid mobile operations in Sweden and Denmark.

State tolling agencies are increasingly adopting prepaid cards in their efforts to eliminate cash and coins at toll booths.

Green Dot plans to acquire Santa Barbara Tax Products Group (TPG) for about $320 million, a move that will allow the prepaid card provider to add tax refund processing services through partnerships with tax preparers.

Blackhawk Network has completed the acquisition of CardLab, a Dallas-based online provider of business-to-business prepaid incentive and rewards cards.

The app automates allowance payments and uses an optional debit card to promote financial literacy.

Swift Prepaid Solutions serves markets that undergo regular disruption – and any time a client changes, so must its cards.