Last week, Visa teamed up with Better ATM Services to debut a gift card that is dispensed out of ATMs. Three credit unions in Arizona are participating in this new pilot program. Although advertised as a gift card, the ATMs are really distributing a Visa prepaid credit card. It is similar to other prepaid cards, but varies a bit in its physical form. Bank Technology News says the new cards “more closely resemble transit cards than credit cards.” The main draw for consumers
Former President of PayPal, Scott Thompson, was named CEO of Yahoo last week. Thompson is well known for driving growth and development of PayPal’s recent mobile payments projects. This is a big loss for PayPal, just months after PayPal lost key players Osama Bedier and Stephanie Tilenius to Google. Yahoo has made no moves or announcements signifying a jump into the mobile wallet war, unlike rival Google, but PayPal still lost its biggest star in the mobile payment sector.