Prepaid cards

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.

PayPal — which is rarely thought of as a prepaid card company — has filed a lawsuit against the CFPB over its rules on prepaid accounts, underscoring the rapid changes in digital financial services and PayPal’s own expanding financial services ambitions in recent years.

PayPal — which is rarely thought of as a prepaid card company — has filed a lawsuit against the CFPB over its rules on prepaid accounts, underscoring the rapid changes in digital financial services and PayPal’s own expanding financial services ambitions in recent years.

Wirecard will begin giving German users of its boon Planet digital account 0.75% interest on funds held in the prepaid card account beginning next year.

Zazu Limited, a Zambian fintech, has partnered with Mastercard to launch a mobile wallet that supports a prepaid account instantly issued from the app to any local consumer — with or without a bank account.

Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees.

After the last two decades of selling prepaid cards and bank accounts direct to consumers, Green Dot has increasingly been shifting gears to rent out its payments and banking infrastructure to nonbanks who want to offer cards and banking services to their users.

The two companies agreed to continue to collaborate on a prepaid card program until 2027. The deal holds particular importance for Green Dot, which relies heavily on revenue generated at the discount retail giant.

Card processor i2C Inc. has formed an alliance with Ecard, a prepaid debit card targeting travelers that's accepted on both Discover and China’s UnionPay network.

Government action and product advancements are giving consumers choice, but misperceptions remain, says the Innovative Payments Association's Brian Tate.

Samsung Pay users can use the app to send funds across borders to recipients with a bank account through a new service powered by Travelex.