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Category “Debit cards”

Prepaid cards Fees for ATM Use Rise, Survey Says

Monday, 6 April, 2015
Debit prepaid cards, ATM

Fees for debit prepaid cards have shifted in the last year, with some transaction charges becoming less common while automated-teller-machine fees rose, according to a new study.

The level and types of fees charged on prepaid cards vary widely, according to an annual study by Bankrate, released today, which looked at 31 common prepaid cards. In general, while ATM fees are rising, many fees for using and servicing cards have declined, Bankrate said.

“Many of the higher-fee cards seen in the past have been marginalized or even discontinued, while the newer entrants often have more transparent fee structures and in many cases, avoidable fees,” Greg McBride, chief financial analyst for Bankrate, said in the news release.

…read more

Source:: Payments Source – Debit

BMO to Add 400 ATMs at Shell Canada Locations

Friday, 27 March, 2015

The ATMs, owned by DirectCash Payments, will start deploying the BMO-branded machines this spring and complete the work by early summer, according to a March 27 press release.

BMO is adding 400 automated teller machines at Shell locations in Canada.

“This partnership increases our out-of-branch ATM network by almost 40% and expands access to cash for customers to nearly 2,500 locations,” Connie Stefankiewicz, head of North American channel strategy and solutions at BMO Financial Group, said in the release.

The $672 billion-asset banking company, based in Toronto, is looking to offer customers more channels to conduct their banking operations. BMO in November upgraded its network of 2,200 ATMs with the ability to accept multi-deposit transactions and scan checks that are printed on receipts.…read more

Source:: Payments Source – Debit

CardFlight Unveils SwipeSimple mobile point of sale system

Thursday, 26 March, 2015
Mobile point of sale system

CardFlight has released a new reader for its SwipeSimple mobile point of sale system offering to accept EMV-chip cards.

…read more

Source:: Payments Source – Debit

Bento Launches Prepaid Debit Card Offering for Small Businesses

Wednesday, 25 March, 2015
Master card for small businesses

Bento for Business Launches Prepaid Commercial MasterCard Solution Built Specifically for Small Businesses

New Startup Gives Small Business Owners Unprecedented Control Without Requiring Them to Put Their Personal Credit at Risk; Helps Plug Expense ‘Leaks’

SAN FRANCISCO, CA–(Marketwired – Mar 25, 2015) –  Bento for Business(www.bentoforbusiness.com), which provides financial solutions that fit small businesses, announced today that it has launched its prepaid commercial MasterCard solution designed for small businesses that depend on employees to purchase supplies or services.

Because most small businesses do not qualify for a traditional business credit card, many owners are forced to either purchase all supplies themselves; or provide employees with personal credit cards, cash, gift cards or signed checks for business expenses. The former option is time consuming for business owners; the latter options involve a high degree of risk and hassle, and make spending very difficult to track and control.

Bento’s solutions are designed to save owners time and help eliminate expense ‘leaks,’ a type of fraud that can cost them up to 5 percent of their revenue each year.

Bento’s first offering, the Bento MasterCard, is a prepaid commercial card solution built exclusively for small businesses, offering real-time spending controls.

…read more

Source:: Bento

Khan Academy embrace Square Cash payments capabilities

Wednesday, 25 March, 2015
Mobile Payments

Nonprofit organizations (RED) and Khan Academy are among the early adopters of Square Cash’s new payments

Square, moving to lower friction in the payments space, has launched a business-based version of its person-to-person Square Cash service that lets businesses accept digital payments. Square Cash’s move includes the rollout of $Cashtags, a unique identifier that enables anyone to create a personalized name like $ErinHills or $SunsetPhotography and get paid privately and securely through Square Cash.

Mobile payments seem to be finally ready to fly,” said Wilson Kerr, vice president of business development and sales for Unbound Commerce, Boston. “Square is clearly trying to leverage the social media angle with Cashtags versus hashtags, to allow business-to-business payments.”

End to end
Businesses can avoid having to deal with credit card fees by using Square Cash for 1.5 percent per transaction. The system, which currently works with debit cards only, could help jump-start the slow pace of mobile payments adoption following the rollout of Apple Pay.

With Square Cash now available for businesses everywhere in the United States, businesses of all stripes can receive deposit payments directly into a bank account, as opposed to a holding account, while paying an affordable rate.

$Cashtags can be posted anywhere to let people know they can pay the business with Square Cash, either from the Cash app or on the Web.…read more

Source:: Mobile Commerce Daily feed