The Biggest Financial-Inclusion Initiative in the World just went Unnoticed

A single day saw the opening of a large number of bank accounts. The government of India has come up with a scheme for the financial inclusion of 75 million families who do not have bank accounts. Yesterday, Narendra Modi, the prime minister of India, officially declared the opening of 15 million bank accounts across

FIS Payments platform making Significant Inroads in Emerging Economies

FIS supports some of the biggest and most progressive banks throughout Europe and the Middle East and processes more than 100 million cards globally. In recent years, the bank has made a foray into emerging markets, especially the Asia Pacific region, gaining new partners. Here are some cases of collaborations with banks that show FIS’s

MetaBank Enters into Multiyear Agreement with UniRush to Issue the Prepaid RushCard

The amount of money loaded onto prepaid cards more than doubled between 2009 and 2013, from $57 billion to $113 billion, according to Mercator Advisory Group. With increasing competition, the star power of celebrities such as Suze Orman and Justin Bieber has becomes key for companies to get their prepaid cards into the media. RushCard,

Payment Companies that Ran Out of Business Despite having Funds at their Disposal

Although there always have been discussions about new startups, there is rarely talk about what happened to the ones that fell by the wayside. This is not an exhaustive list, but we want to discuss why some payment companies went out of business despite still receiving money from investors. The reasons that many of the

More Reasons Why the iPhone will have NFC and Why this is Important

Recently we have seen a number of leaks and claims leading to the launch of the upcoming iPhone 6. A recent one shows that the device might include near-field communication (NFC) as part of its hardware. Images of NXP Semiconductors chips have been leaked across Internet sources showing where the NFC chip could be embedded

Western Union Adds Bank-Account-Based Funding Options for Users in 5 Countries, Adds Mobile-Money-Transfer Service in Ivory Coast

On Aug. 26, 2014, global money-transfer giant Western Union announced that users in Belgium, Austria, the Netherlands, the U.K. and Germany can now fund online as well as mobile Western Union Money Transfer transactions using their bank accounts. This update adds to Western Union’s online and mobile bank-account-based services, which enable senders to tailor transactions to

Square Releases Updated Version of Square Cash, Heads for $6 Billion Valuation

Sending money through e-mail has been gaining popularity of late with innovations from Google, Dwolla, PayPal,  Venmo and, most recently, Square. After several months of invitation-only beta testing, Square rolled out a person-to-person payments service, Square Cash, in October 2013. On Aug. 26, 2014, it released an updated version of the service. The update enables users to send or request

NTT DoCoMo to Enhance the NFC Experience in Japan with Gemalto

Gemalto, which provides popular digital security services, recently announced that NTT DoCoMo has opted for its mobile NFC services. NTT DoCoMo is the No. 1 mobile operator in Japan, with more than 63 million subscribers. Gemalto will be providing NTT DoCoMo with two different kinds of services providing end-to-end solutions. NTT DoCoMo will be getting

Orderella Promotes ‘Beat the Queue’ Trend at UK Pubs and Bars via NFC/Beacons

Orderella is known for developing an app via which customers in pubs and bars in the U.K. can place orders and make payments. Now the company is looking to enhance the mobile experience by installing NFC tags and Bluetooth beacons in bars and pubs in the U.K. Currently, 79 establishments across the U.K. use Orderella’s

Now make Payments at Online Merchants via Citibank Wallet

Citibank has launched its online wallet for purchases across accepting online merchants. Citi Wallet makes the checkout process seamless, with minimal clicks. Citibank cardholders don’t have to enter credit-card, billing and shipping information while making online purchases at thousands of merchants. The service is available to U.S.-based Citi cardholders only. Citibank is one of the