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CNP Headlines

Prepaid cards rule in September spending; checks see rare increase

Mobile Payments Today - Tuesday, 14 October 2014 Prepaid cards accounted for the highest year-over-year dollar volume growth (5.7 percent) in September spending. However credit was close behind with 5 percent growth during the period of Sept. 2–30, 2014, compared with Sept. 3–Oct. 1, 2013.

Banks Face Powerful Competitors In The Payments Business

Forbes - Tuesday, 14 October 2014 The difference today is the competition comes from firms with tens or hundreds of billions of dollars and tens of millions of customer relationships they can turn into something, so I do think it is going to be much tougher for banks. They did create online banking, but they did it at banking speed. Now they have to operate at Silicon Valley speed.

Facebook looks set to launch mobile payments

CNBC - Monday, 06 October 2014 Facebook is set to launch a payments feature in its Messenger app which will allow friends to send money to each other, according to a software hack carried out by a Stanford University student.

Chinese Payments Giants Alibaba and Tencent Are Now Bankers

Pyments - Monday, 06 October 2014 China’s two biggest online services already have large payments operations — and now both have permission to be bankers, too. On Monday (Sept. 29), Alibaba Group’s Alipay affiliate won permission from the China Banking Regulatory Commission to set up a privately owned bank, according to the Wall Street Journal. Alipay processes most of the transactions on Alibaba’s e-commerce websites.