SIX Payment Services says it has completed the enterprise-wide upgrade of payment terminals of Swiss Post four months ahead of schedule. The new “smart” payment terminals – Ingenico’s iSC250 – are “particularly good” and “among the most innovative ones on the market”, SIX says.
It felt like there was a blockchain story every day in 2016, but we look back at some of the bigger stories with Banking Technology’s top ten! Microsoft and AMIS launch Asia’s first blockchain consortium Microsoft says it is also in “collaboration” with banks such as Ubon Financial, Cathay Financial Holdings and MegaBank to further […]
Look back at some of the major fintech events in 2016, with Banking Technology’s top ten! Sibos 2016: markets still in “Dante’s circles of hell” It’s the big one. And this is just one snippet from our extensive coverage of Sibos in Geneva. We also produced videos, published Daily News at Sibos, had fun with […]
From a technology perspective, the family home has decided to rush headlong into the 21st century. When our home was built we thought we were being extremely progressive in having a Panasonic “4 lines, 10 extensions, PBX” installed with separate lines for my wife and myself and then a line for business and yes, one dedicated line for the fax machine. Cool… but fast forward a decade and a half and with the home up for sale, we were politely advised to take out all those handsets and close the door on the PBX.
Credit card firm MBNA is to be taken over by Lloyds. The firm’s current owner, Bank of America, has agreed to sell it for £1.9 billion. The deal is expected to close in H1 2017.
Citi and FIS have formed separate agreements with PayPal for Citi cardmembers and FIS linking payment cards. For Citi, its customers will be able to use their Citi Cards with PayPal – online, in-app and in store – in 2017. Terms of the agreement are not being disclosed. With this agreement, Citi says it is […]
Mastercard has teamed with Verifone to roll out a new instalment pay application at retailers across the UK. Called Mastercard Instalments, it is designed for shopping online or in-store, and cardholders can choose their instalment option upon checking out. For example, when purchasing a new TV or flight, customers could repay it in fixed instalments. […]
Virgin Money has signed a long-term deal with TSYS for debit card processing in the UK. The bank is already using the payments vendor’s TS2 solution for its credit card operations.
Eftpos Australia, the nation’s most widely used debit card payments system, says users will be able to tap and pay via Eftpos with their smartphones next year. Paul Jennings, CTO of Eftpos Australia, says it is “now working with several members [banks] and successfully testing the token service in order to launch Eftpos as a […]
Barclays is launching the UK’s “first” contactless mobile cash service. Customers can withdraw up to £100 in-branch, with a tap of their Android smartphone or contactless debit card. Ashok Vaswani, CEO of Barclays UK, says its customers “now expect to be able to use their smartphone to make their everyday purchases” and “we want taking […]
Android Pay is now live in Poland – the first country on continental Europe to launch the service.
Italy’s ICCREA Banca has gone public on its project to modernise its trading business ops with Misys. Misys is providing its FusionCapital Kondor and Summit treasury and capital markets (TCM) solutions to the bank. The Summit system has been running at ICCREA for over a decade. Kondor was selected by the bank in 2013, Banking […]
UK-based payments vendor Monitise has launched its Finkit partner programme with founding partner MasterCard to speed up collaboration in banking and payments. For the “first time”, the founding partners – which also include BehavioSec, Currencycloud, Envestnet | Yodlee, Experian, Fastacash, FICO, HID, iGeolise, LivePerson, Mypinpad, Syniverse and WorldFirst – have agreed to make their capabilities […]
UK-based banking services challenger Ffrees Fiamily Finance has launched a new “digital agency banking solution” – U Account. The account is supported by Wirecard, Global Processing Services (GPS) and payments software vendor Bottomline Technologies.
Soldo, a London-based fintech start-up, is launching its flagship multi-user spending account. Soldo is not a bank, but a prepaid MasterCard. It holds an e-money licence from the UK’s regulator, FCA.
The global prepaid card base will increase to 921 million in 2021, up 46 percent from 624 million as of Dec. 31, 2015, according to a new forecast from U.K.-based Retail Banking Research, or RBR. Despite the prepaid surge, debit will continue its dominance of the overall cards market. RBR’s “Global Payment Cards Data and Forecasts to 2021,” which does not cover closed-looped prepaid cards, found that debit cards in 2021 will account for 72 percent of all payment cards worldwide, up from 70 percent in 2015.
MasterCard has unveiled its own blockchain as it reacts to arch-rival Visa’s partnership with Chain and seeks to use the technology in payments and trade finance. Its version is currently at the testing stage and offers the usual things in this corner of the fintech world. These include smart contracts – scriptable transactions that automate […]
Misys has signed a five-year enterprise license agreement with Deutsche Bank giving it “unrestricted access” to deploy Misys FusionBanking Lending and Misys FusionCapital solutions across the business. Misys’ FusionBanking Lending offering includes the Loan IQ back office platform for syndicated lending and the front-end that originates from Custom Credit Systems (CCS), a US-based provider of […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! HSBC Private Bank live with Avaloq Banking Suite EXCLUSIVE. It’s on in Switzerland and Luxembourg. European Association for Biometrics conference Eyes down for our event review. New challenger bank to launch in UK Hampshire Community Bank wants a […]
Misys’ initial public offering (IPO) has been scrapped. It had planned a £5.5 billion float but says in a statement that it “decided not to proceed… at the current time due to market conditions”.
As retailers across the country need to bring innovative customisation and convenience factors to their customers, credit cards are becoming an essential part of delivering value. Co-branded cards continue to play an important role in the retail landscape and can offer a unique point of distinction for retailers in today’s competitive environment.
Uber has teamed up with MasterCard and Mexico’s first online bank, Bankaool, to launch its own debit card. The latest deal is Uber’s ride deeper into the fintech space. It recently partnered with Standard Chartered to offer the bank’s credit cardholders cashbacks on Uber rides. The UberCard in Mexico is linked to a Bankaool bank […]
Visa has unveiled Visa B2B Connect, a new blockchain-based platform that it is building with US-based blockchain specialist Chain Inc. At present, the solution is in preview mode. It will be piloted in 2017.
Jargon defeated. Unnecessary words deleted. A brief payments round-up. LeFinance, a division of Beijing-based tech firm LeEco, has partnered with the Stellar Development Foundation for cross-border payments on the latter’s blockchain network. The deal means Stellar expands into China. LeFinance will also use Stellar’s network to monitor credits for usage across their various devices and […]
ATMs at some of India’s biggest banks have suffered a malware attack, with around 3.2 million debit cards now at risk. Most of the affected cards belong to HDFC Bank, ICICI Bank, State Bank of India (SBI) and Yes Bank. The malware potentially means unauthorised individuals can get access to the data on debit cards […]
Misys’ initial public offering (IPO) is not going smoothly as planned with its value cut by 20%. As Banking Technology reported earlier this month, Misys planned to proceed with the IPO on the London Stock Exchange in early November 2016. The firm is currently residing in the hands of US-based Vista Equity Partners and is […]
Payments technology and expense management specialist Fraedom is on the journey to tap into the $110 trillion B2B market opportunity that remains untapped today. “If the technology is both powerful and intuitive, people will use it,” states Kyle Ferguson, Fraedom’s CEO.
US Bank is offering a Visa-developed geolocation service, a new, opt-in technology integrated into the bank’s mobile apps that enable the location of a card transaction to be matched to the location of the user’s phone. By matching the location, US Bank says it can help ensure that transactions on customers’ cards are approved and […]
Commonwealth Bank of Australia (CBA) has signed for a “cloud-ready single platform” from its long-standing software supplier Misys to support its corporate banking operations outside Australia.
Friday’s not the best for NatWest. Today (14 October), there have been some issues with its debit card payments and its customers are unable to make purchases. The bank says it is “aware of some issues” and is “working hard to fix them”. On Twitter, customers are either confused or venting their fury. We’re aware […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! MasterCard to buy French payment firm Stet? EXCLUSIVE. Payments processor could be a target. Brooks Macdonald puts IT revamp with Third Financial on hold EXCLUSIVE. All freeze for wealth management firm. Banks behaving badly in Singapore Monetary Authority […]
Tehran-based Informatics Services Corporation (ISC) is inviting bids for the installation and implementation of an international card payment switch in Iran. ISC says it is considering the procurement of a national merchant management system, card management system, ACS (access control server) and FRM (fraud / risk management) to manage international card payments’ usage within Iran’s […]
Silicon Valley Bank and MasterCard have selected six start-ups to participate in Class 5 of Commerce.Innovated, a virtual accelerator designed to help commerce, payments and fintech start-ups grow their businesses. The six US start-ups will go through the four-month virtual programme and are in various stages of funding and development: Domuso, a payment financing platform […]
MasterCard is believed to be mulling the acquisition of French payments processor Stet. MasterCard told Banking Technology it “does not comment on rumours or speculation”. Stet responded saying that “these are unfounded rumours” and that it “has no discussions of this type with MasterCard.” Stet was set up in 2004 and is currently owned by […]
MasterCard and Berlin-based SolarisBank have teamed up to bolster their digital banking ambitions. SolarisBank has got principal membership status, and will now operate at MasterCard’s “highest issuer level”, with access to its entire product portfolio. Dr. Andreas Spengel, vice-president at MasterCard, says it is “excited by the outlook of working together with a young, visionary […]
“We have the licence, we have the technology, now we have the card.” New UK challenger bank Starling has got its first batch of debit cards as it continues to build its infrastructure. Like some kind of shopaholic’s symbolic frolic, the bank detailed its London shopping adventure with a blog post. This had a point […]
Misys plans to proceed with an initial public offering (IPO) on the London Stock Exchange in early November 2016. As Banking Technology reported in August, Misys – currently residing in the hands of US-based Vista Equity Partners – was understood to be gearing up for this IPO with a £5.5 billion float and appointed investment […]
This time we have a genuine Uber moment in fintech. Standard Chartered and Uber are partnering to offer the bank’s credit cardholders cashbacks on Uber rides. This is the “first ever multi-market partnership” for both of them. The deal is for six markets – Singapore, Indonesia, Malaysia, Vietnam, India and the United Arab Emirates – […]
It’s a European roll-out as MasterCard has launched Identity Check Mobile, a new payment technology app that uses biometrics to verify a cardholder’s identity. The technology is now being introduced across 12 markets in Europe – including the UK, Austria, Belgium, Czech Republic, Denmark, Finland, Germany, Hungary, the Netherlands, Norway, Spain and Sweden, following a […]
Apple Pay has launched in Russia with partners Sberbank and MasterCard. Russia is the tenth country where Apple Pay has been made available, following the US, UK, Canada, France, China and others. Alexander Torbakhov, deputy chairman of the executive board of Sberbank, says: “Apple Pay is driving the popularisation of contactless payments in Russia and […]
