Qualified residents to begin receiving Hawaii Restaurant Card

… Development and Tourism (DBEDT), Chamber of Commerce Hawaii, Hawaii Restaurant Association and the Hawaii Agricultural Foundation.

The Hawaii Restaurant Card (HRC) will begin arriving in mailboxes of qualified residents this week, beginning Friday.

The HRC Program, funded via $75 million from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides residents who filed an initial claim for Unemployment Insurance benefits beginning March 1 or thereafter and continue to meet additional CARES Act fund eligibility requirements with a preloaded, prepaid debit Mastercard with $500 for use at restaurants, eating establishments, bakeries and food caterers throughout Hawaii.

ADVERTISING


Qualified individuals will automatically receive the card and have through Dec. 15 to expend the funds. There is no sign up required. The use of the Hawaii Restaurant Card will not impact SNAP and Medicaid benefits or eligibility.

The HRC Program is a public-private partnership between the state Department of Business, Economic Development and Tourism (DBEDT), Chamber of Commerce Hawaii, Hawaii Restaurant Association and the Hawaii Agricultural Foundation. The state says the program will result in far reaching economic benefits beyond restaurants, including the restaurant industry supply chain, farmers, ranchers, fisherman, produce suppliers, supply companies and more.

ADVERTISING


The card can be used statewide at restaurants, eateries, bakeries and food caterers that accept Debit Mastercard. The card can only be used for food and nonalcoholic beverage purchases and it will not be accepted at grocery or convenience stores or for grab-and-go prepared meals.

For more information, visit www.hawaiirestaurantcard.com.

Banking technology start-up GoCardless expands to America

The financial technology start-up said the decision to expand its service, which allows businesses to receive direct debit payments online, to America …

British payments technology start-up GoCardless has launched its online direct debit service in the US and will open a new office in San Francisco.

The financial technology start-up said the decision to expand its service, which allows businesses to receive direct debit payments online, to America has taken several years of planning and negotiations with regulators.

Pranav Sood, GoCardless’ head of international expansion, likened the firm’s ambitions to global credit card networks.

“For credit cards, there are some pretty well established global networks, Visa and Mastercard, there is no equivalent for direct debit,” Sood said. “That’s what we’re building.”

GoCardless raised $75m (£60m) from…

Mastercard and Lyft Unveil New Rewards Debit Card for Drivers

Lyft and Mastercard have partnered to create a rewards debit card for drivers. The debit card, known as Lyft Direct Debit, ties to a no-fee bank account, …

Lyft and Mastercard have partnered to create a rewards debit card for drivers. The debit card, known as Lyft Direct Debit, ties to a no-fee bank account, and provides drivers with instant access to their earnings.

Lyft first revealed plans for a rewards debit card in March. The company aimed to increase driver pay without increasing ride fares. Providing a cash back program was the best way to achieve that goal.

Lyft Direct Debit offers 4% cash back at select restaurants, as well as 2-3% cash back on fuel (varies by location) and 1% cash back on groceries. Cardholders will qualify for discounts at select service centers, such as Jiffy Lube, Pep Boys and Tire Kingdom.

Lyft Direct offers an automatic savings feature, where drivers can arrange for money to be put aside from their earnings. This savings can be used for emergency funds, car repairs, personal spending, or anything else.

The Direct Debit card is backed by Mastercard ID Theft Protection, and comes with 24-hour identity theft resolution. Cardholders will have access to 20,000 no-fee ATMs. Payments will process to the card as soon as a ride is completed. Drivers simply need to select Lyft Direct Debit as their default payment system.

The card will initially launch in Los Angeles, San Diego, Houston, Atlanta, Denver, Las Vegas, Tampa and Washington D.C. There is a corresponding app for the card that showcases recent transactions, the account balance, the rewards balance, and the ‘goal’ balance for savings.

Wells Fargo Debuts Tap-and-Go Cards and other Digital Transactions News briefs from 4/2/19

NxtID Inc. said it will hold a conference call on Thursday in which it will provide an update on its planned spin-off of its Fit Pay payments business.

Digital Transactions News staff April 2, 2019Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Digital Currency, Electronic Bill Payment, Issuing/Originating, Person-to-Person Payments, Transaction Processing

  • Wells Fargo & Co. has introduced contactless credit and debit cards for point-of-sale transactions. Information on how many cards will be issued was not immediately available. Tapping at ATMs will be introduced nationwide later this year at more than 13,000 machines, the bank said.
  • Advanced Solutions International, a software developer for associations and nonprofit organizations, said it and Global Payments Inc. are launching iMIS Pay Central for users of ASI’s software.
  • Bitcoin, which has been trading for the past four months in a relatively narrow band between $3,200 and $4,100, spiked early Tuesday and briefly traded above $5,000. Its price stood at nearly $4,750 at mid-morning, its highest level since November.
  • American Express Co. said it renewed its cobranded card contract with Delta Air Lines, its largest cobranding merchant partner, through 2029. AmEx issued its first card for Delta in 1996. The Delta cobrand accounted for 8% of AmEx’s worldwide billed business of $1.18 trillion in 2018, according to AmEx’s latest annual report.
  • Nxt-ID Inc. said it will hold a conference call on Thursday in which it will provide an update on its planned spin-off of its Fit Pay payments business.
  • Business-to-business payments provider Bill.com said it will offer Mastercard virtual cards as part of its automated accounts-payable platform for small and medium-size businesses.
  • EVO Payments Inc. plans to sell 5 million shares of common stock in a secondary offering; the merchant processor will use the estimated net proceeds of $139 million to $160 million to buy interests in the company held by Madison Dearborn Partners and Blueapple Inc
  • The Western Union Co. said customers can initiate money transfers on the company’s mobile app or on its Web site and then make payment at Dollar General stores. Dollar General operates more than 15,400 locations in 44 states. Customers can also pick up transfers at the stores.
  • Veridium, a startup that has developed a biometrics-based multifactor authentication platform, said it has been selected for Mastercard Start Path, a program operated by the card network to help late-stage startups gain access to growth capital.
  • Payrailz, a bill-payment and money-transfer services provider for banks and credit unions, announced two executive appointments. Jean Kaye, a veteran of People’s United Bank, was named vice president of project management. Denise Delisle, who comes to the company from BillMo, was named vice president of payment operations.

Coinbase-supported Shift Card to close operations in April

Shift Payments, a Visa debit card company that enables users to spend cryptocurrencies held on Coinbase, will close its operations by April.

Shift Payments, a Visa debit card company that enables users to spend cryptocurrencies held on Coinbase, will close its operations by April. This information was contained in an email the company sent to its customers, adding that it hopes to resume activities in the near future.

US residents have one less crypto debit card

Shift Payments enables users of US-based cryptocurrency exchange Coinbase to spend BTC over the past few years using their crypto debit card. However, the company will cease operations by April 11, but assured its customers that it would work towards relaunching its debit cards in the near future. This latest development was contained in a Reddit post two days ago, with an email from the Shift team attached to the post.

Shift, in its email, said, “We hope you enjoyed using the Shift Card and truly thank you for your loyalty. We, unfortunately, will be retiring the program in April of this year — All Shift Cards will officially be deactivated on April 11, 2019.”

Shift did not disclose the reason for the withdrawal of its debit cards but assured its customers that the BTC debit cards would function as usual until April 11. The Shift Card was launched in 2015 after it partnered with Coinbase but struggled to gain adoption over the past three years. Back then, some market experts criticized the process, as they feel Bitcoin purists want to use actual BTC to pay for goods and services.

Shift Payments deactivating its debit cards implies that the US residents will be left with limited options in terms of crypto debit cards. At the moment, BitPay Visa Card is the only large and reliable crypto debit card service provider for US citizens. There are other popular crypto-debit card service providers including Wirex, Uquid, Cryptopay, and Spectrocoin; however, these companies provide service to EU and non-US users.


More on Coinbase: