Eliminate Payments Risk at All Payments Expo

Rules, Regulation and Compliance

With innovation comes risk. And where there's risk, there's rules, regulation and compliance - plus, lots of uncertainty.



At All Payments Expo, you'll get the legal analysis and regulator face-time you need to decipher how new regulation developments, fraud trends and lingering uncertainties will impact your payments product or program.

Get Analysis on:

• CFPB-led presentation on its proposed rules for prepaid
• How fraudsters are gaining access to a wide variety of payment access devices, with insight from the FBI and the Federal Reserve Bank of Atlanta
• Analysis on EMV's maturation, and the subsequent impact on payment fraud
• The legal implications of Bitcoin, and how partnerships can satisfy compliance requirements
• How to improve the compliance relationships between prepaid program managers and issuers
• Eliminating gift card-based fraud in-store, online and third-party
• How to boost approval for your product innovations, enhancements and add-ons throughout the regulatory lifecycle
• How non-traditional payments companies and MSBs can better access financial services

View the APEX agenda.

At APEX, you'll have a tailored line-up of legal analysis, regulator access and real-world takeaways. Don't risk your program's growth - get ahead of regulation now by attending APEX.

Save $100 when you register with the code XU2848BLOG

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Register for APEX by Friday 1/31 to Save $200!

As a valued reader of our blog, you will receive an EXTRA 10% off the current conference rate! That is over $200 in extra savings – over $400 in total savings.

Register Here: http://bit.ly/1anEGNC

All Payments Expo is taking place March 3-5 at The Mirage in Las Vegas. All Payments Expo is the annual meeting place for payments professionals focused on areas of growth and convergence in payments. Our mission is to catalyze the partnerships necessary to build the next generation of payments, from the mobile environment to the brick-and-mortar POS.

It's a new year, and 2014 promises to be a big one for payments players. With new products being developed, competition intensifying and regulation and interchange rulings expected this year, partnerships are powering major moves in the next fiscal year.

Register now and lock in the lowest rate: http://bit.ly/1anEGNC

See you in Las Vegas!

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Test Drive an Expert: Donald J. Mosher, Schulte Roth & Zabel LLP

Donald J. Mosher

We had a chance to chat with Donald J. Mosher, Partner at Schulte Roth & Zabel LLP, before the 7th Annual Prepaid Expo, taking place this year in Las Vegas, Nevada, on March 12-13, 2012. He is our  featured expert on the topic of Mergers, Acquisition and Investments.

Prepaid Expo attendees this year will have the opportunity to schedule one-on-one meetings with Donald and other experts from an array of Prepaid specialties.

Here is what we discussed with Jon:


What are the most pressing issues/trends in your subject area that prepaid professionals should consider and/or watch closely in the coming year?

Increased compliance costs, identity security and mobile payments driving M&A activity in the payments industry in 2012 as larger payment companies work to keep up with their peers and the latest technology and product offerings, and smaller companies face disproportionate demands on personnel and cash resources to continue growth in an increasingly heavily regulated space.

More competition between financial buyers, who are unable to offer their historically generous multiples, and strategic buyers, who can support a higher purchase price because they can generate extra income by integrating targets into their core and complimentary businesses.

What are the 3 most commonly asked questions/concerns you hear from clients?


1. What kind of regulatory shape is the target in?

2. Will we need federal or state regulatory approvals to close?

3.When can we expect to close, and are there any steps we can take now to close sooner.

What is/are the most common mistake(s) and oversight(s) people make in the prepaid space related to your area of specialization? 

Not getting legal involved early enough.  Understanding whether and at what level an investment in a particular company may trigger regulatory filings, and by who, is important to consider early on to explore structuring alternatives that may reduce or expedite the regulatory process.



About Donald:


Donald J. Mosher, a partner in the New York office and head of the Bank Regulatory Group, focuses his practice on the regulation of banks, thrifts and licensed financial services providers, and specifically the regulation, acquisition and sale of payments companies and money transmitters, and the laws and practices applicable to electronic, paper- and card-based payment products and systems.

Don has represented leading banks, payment companies, money transmitters and private equity firms in transactional and regulatory matters associated with payments, prepaid cards and money transmission, including the negotiation of payments products and processing agreements. Don recently served as regulatory counsel to The Western Union Company in its $370 million acquisition of Canadian B-to-B international payments solutions provider Custom House Ltd.

Test Drive an Mergers, Acquisition and Investments Expert

You can schedule a meeting with Donald J. Mosher at Prepaid Expo here, if you need help with regulatory or contractual concerns related to developing, buying, selling or maintaining a payment, prepaid card or money transmission company or product.


To register, visit www.prepaidexpousa.com
Call: 1 888-670-8200                    
Email: register@iirusa.com 

* Please mention your priority code when registering to save $100 off the standard and onsite rate:
XU2548BLOG.

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China Prepaid In Brief: What You Need to Know

Prepaid TV™ unpeels an appealing, but complex market

By Marc Dresner, IIR

At an estimated 13-17% CAGR, China’s prepaid market (approx. US$230 billion in 2010) is poised to overtake the US as the world’s largest before the decade ends.

It’s a not the model we’re accustomed to in the West—and not without its quirks—but with such a rapid adoption rate, China’s prepaid market has legs and is running fast!

Take gas cards, for example. The two major State-owned gas station operators don’t take credit cards, and dealing in cash is becoming increasingly cumbersome as more and more members of China’s expanding middle class take to the roads in cars. Solution: prepaid petrol cards! And they’re being aggressively pushed.

According to Terry Xie, Director of the International Payments Advisory Service at Mercator Advisory Group, while barriers to entry can prove daunting, China offers significant opportunities for foreign players with the right amount of capital who understand the market.

And Xie says don’t be intimidated by China's increasingly tight regulatory environment; it may actually catalyze growth!

In a three-part interview with Prepaid TV™ – the official streamcast network of Prepaid Expo — Xie provides a blueprint for navigating the world’s second largest prepaid market and some considerations for foreign interests who would like to do business in the People’s Republic.


Click on the links below to tune in!

Part I: China’s Massive Prepaid Market

Part II: Understanding Open Loop

Part III: The Regulatory Environment for Prepaid

ABOUT PREPAID TV™
Prepaid TV™ is an executive interview series featuring the leading voices in prepaid today, along with a few rising stars that you should know about.

Each month, we’ll deliver fresh insights and answers from a variety of perspectives – networks, banks, retailers, programs and providers – on the forward-facing issues that matter most to the prepaid industry.

Prepaid TV™ is produced by Prepaid Expo, the world’s largest, most comprehensive and independent forum dedicated to meeting the information and business needs of the entire stored value community.

For more information or to register for Prepaid Expo taking place March 12-14 in Las Vegas, please visit www.iirusa.com/prepaid


ABOUT THE AUTHOR/INTERVIEWER
Marc Dresner is IIR USA's communication lead. His background is in trade journalism and marketing research. Prior to joining IIR, Dresner was the executive editor of Research Business Report, a confidential newsletter for the marketing research and consumer insights industry. He may be reached at mdresner@iirusa.com. Follow him @mdrezz.

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Prepaid Expo USA 2010 Speaker Profile: Ky Tran-Trong, Federal Reserve Board

Ky Tran-Trong
Federal Reserve Board

Ky Tran-Trong is a Counsel in the Division of Consumer and Community Affairs of the Federal Reserve Board. He works on regulations implementing the Electronic Fund Transfer Act, the Truth in Lending Act, the Truth in Savings Act, the consumer financial privacy provisions of the Gramm-Leach-Bliley Act, and the Fair Credit Reporting Act. Before joining the Board, he was with the U.S. Commodity Futures Trading Commission, and clerked for the Honorable Vanessa Ruiz at the D.C. Court of Appeals. He received his bachelor's degree from Duke University, his law degree from William & Mary School of Law, and his LL.M. in corporate and commercial law from the University of London. He is admitted to practice law in New York.

Ky Tran-Tron will be speaking at Prepaid Expo USA 2010 this February. Take some time to view our speaker line-up below. Hope to see you in Las Vegas this February!

Prepaid Expo Brochure

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Prepaid Expo USA 2010 Speaker Profile: Esq, Federal Reserve Bank of Phildelphia, Philip Lehman Keitel

Philip Lehman Keitel
Industry Specialist, Payment Cards Center
Federal Reserve Bank of Philadelphia

Philip presently works as an industry specialist in the Payment Cards Center of the Federal Reserve Bank of Philadelphia. His main responsibilities include researching and analyzing emerging issues in consumer credit and payments- particularly legal and regulatory issues, giving speeches, and organizing workshops and conferences. Licensed to practice law in Pennsylvania and New Jersey, he is also a member of the American Bar Association.

Here are some of his recent publications and speeches:

"Prepaid Card Industry Dynamics and Criminals' Use of Prepaid Cards, speech given at the Money Transmitter Regulators Assoc. annual meeting in Stowe, VT, September 3, 2009.

"The Credit CARD Act of 2009 and Prepaid Cards," Payment Cards Center Note, August 2009.

Philip Lehman Keitel will be speaking at Prepaid Expo USA 2010 this February. Take some time to view our speaker line-up below. Hope to see you in Las Vegas this February!

Prepaid Expo Brochure

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How will the CARD Act impact the prepaid industry?

Recently, the prepaid industry has been under heavy scrutiny and with the addition of the Credit Card Accountability, Responsibility and Disclosure Act going into effect on February 22, 2010 even more provisions will apply to gift certificates, store gift cards and general-use prepaid cards. This article from Bankrate.com highlights how expiration and inactivity fees, for example, will be very limited. Customers can not incur inactivity fees on gift cards unless they go unused for a period of over 12 months.

There are however, certain fees that the CARD Act does not protect from like upfront issuance and sales fees. One aspect of fees that the CARD Act is particularly aiming to eliminate is expiration fees. The ACT demands that cards not expire for 5 years after its issuance; many gift cards at this time expire after 1 or 2 years.

What sort of changes do you foresee in the prepaid industry with these new provisions going into effect early next year?

Speakers at the Prepaid Expo USA 2010 will go more in depth into some of the legal and regulatory issues tackling the prepaid industry today. We have devoted an entire day to sifting through the details and helping you understand how the CARD Act will affect your business. Remember, if you’re planning to attend the Prepaid Expo USA event in Vegas this February make sure to mention code XU2348LinkedIn1 for a 10% discount off the prevailing conference rate. Hope to see you there!

Prepaid Expo Homepage

Download the brochure and take a look at Day 3 of the Expo agenda, which is entirely dedicated to Regulations

Register for Prepaid Expo – mention code XU2348LinkedIn1 for a 10% discount off the prevailing conference rate

NEW Special group pricing available this week only! Make sure to take advantage of this great offer.

Need more time for private meetings at the Expo? Contact our all new Prepaid Expo USA Meeting Concierge. If you are interested in Prepaid Meeting Concierge Services, please call +1.646.616.7605 or email us at PrepaidConcierge@prepaidexpousa.com to reserve your meeting space!

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Spotlight on Prepaid Cards

A recent post from the Charlotte Observer highlights consumers are increasingly turning away from credit cards and bank accounts and moving to prepaid cards for their convenience of use, and that prepaid cards do not require credit checks. In 2008, consumers loaded $8.7 billion in prepaid cards, as opposed to $4 billion from the previous year. There is no doubt that the prepaid industry has grown significantly over the past couple of years.

College students make up a big percentage of prepaid card users. Industry experts only see this increasing even more since a new credit card law that will make it difficult for anyone under 21 to obtain a credit card without an adult co-signer will take effect in February. Congress is even taking a page from prepaid card's book by trying to pass legislation that would force banks to ask permission before overdrawing from their bank accounts.

Prepaid cards have recently come under federal scrutiny and many are arguing for more regulation in the prepaid industry. Do you agree that more regulation on prepaid cards will reduce fees?

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Prepaid cards under fire for fees

In a recent research report done by the New York Times, they criticize the prepaid banking industry for continually charging their customers with fees on money they've earned. This documentary takes a special look at how hard it is to find out exactly what the fees are when one is considering a prepaid card. How can the prepaid banking industry more effectively communicate with potential customers about the way the prepaid banking card works?

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