Report: Mobile Wallets in Fraudsters’ Crosshairs
Mobile wallets could be a vulnerable target for fraud, and concerns over wallet security could inhibit adoption, especially among certain consumers segments, a new report warns.
Mobile
New Zealand Banks on Faster Payments with SIA
The country’s central bank hires Italy’s SIA to set up a real-time gross settlement system. The move represents the lastest development in the global effort to implement faster payment systems.
Backbase’s omnichannel platform gains new live site in Kazakhstan
Kazakhstan’s Halyk Bank has launched a new digital banking subsidiary, Altyn-i, underpinned by the Backbase omnichannel solution. Backbase interfaces to Altyn-i’s core banking system, CBS, from Colvir Software Solutions. The new bank aims to offer a full range of financial services. At present, it offers account opening, debit cards and payment services. Consumer loans, mortgages […]
Card Forum Panel: Mobile Wallet Opportunities, Pitfalls for FIs
When it comes to mobile wallets, Apple Pay, Samsung Pay and Android Pay garner plenty of headlines. But while the trio of high-profile “—Pays” has finally brought long-awaited consumer attention to mobile wallets at large, are they putting bank issuers at risk of losing control of the payments experience? And, if so, how do FIs fight to stay relevant in the mobile wallet age?
PayToo and City National Bank of New Jersey Launch Mobile Wallet
The PayToo wallet is targeting unbanked and banked consumers and could serve as an alternative to traditional banking, according to PayToo CEO Michel Poignant.
Delaware Unveils Blockchain Initiative
The Delaware Blockchain Initiative demonstrates the state’s commitment to ensuring this remains the case for the growing blockchain technology sector.
FTC Chair: More Security Needed for Internet of Things
Edith Ramirez says Congress will have to craft laws to protect all the data and activities that stem from Web-connected appliances, cars and other devices. She also urges the industry to better protect that data.
Earthport and Ria Money Transfer join forces for remittances
Earthport, a UK-based cross-border payment network, and Ria Money Transfer, the world’s third largest money transfer company, have teamed up. Earthport will provide Ria with access to a global payment network. “Through a single, managed relationship with Earthport, Ria will gain access to over 60 domestic clearing schemes,” Earthport states. The solution “enables complete transparency”, […]
Money20/20 Europe: M-Wallet Future
During a panel at Money20/20 Europe in Copenhagen on April 5, experts discussed the challenges of creating personalized experiences to entice users and deliver those experiences at scale.
Money20/20 Europe: Consumer Appetite for Digital Wallets Growing in Europe
Europeans are showing an increased interest in digital wallets and almost a third (31 percent) say they’re likely to use a digital wallet on a mobile device, 5 percent more than the previous year, according to Aimia research released this week at Money20/20 Europe.
A Decade in, PayPal’s Mobile Business Booming
PayPal Inc. has unveiled a new chart that shows just how quickly its mobile payments have spread in the U.S. over the past decade. Issued in a PayPal blog post to mark 10 years since the company offered its first mobile payments service—which enabled users to send money via text—the chart tracks PayPal’s mobile payments volume by year. Since beginning at under $50 million in 2006, mobile payments volume shot up, cracking the $1 billion mark in 2011—and the $10 billion plateau just a year later.
Verifone Debuts M-POS Device at Money20/20 Europe
The Verifone Carbon, designed for such businesses as cafes and retail stores, enables not only payments but personalized marketing messages targeted at consumers. Verifone says the launch helps showcase that it’s competing on a design and innovation standpoint, not just by providing security and scale.
Amazon Expands Payments with Global Partner Program
Amazon is stepping on the gas when it comes to expanding its payments business globally. The e-retail giant today announced the launch of the Amazon Payments Partner Program in four countries. In an interview at Money20/20 Europe in Copenhagen, Patrick Gauthier, vice president, Amazon Payments, talked to Paybefore about the company’s payments plans and how it’s winning over merchants.
Keeping up in a Faster Payments world
Faster payments is one of the more pervasive topics in almost any global payments conversation. And if you look at key countries like Singapore, the US, and Australia, it may seem to be more than just talking. Additionally, many countries are improving their infrastructure to clear payments in the same day or already have domestic […]
KeyCorp and First Niagara merger – software revamp on the cards?
As US-based KeyCorp prepares to take over its rival First Niagara to create the country’s 13th largest bank, Banking Technology muses what this might mean for the fintech market. A major system selection perhaps, as both banks are currently using dated systems? KeyCorp and its banking subsidiary, KeyBank, hope to finish acquiring First Niagara by […]
Old left cold by US mobile banking
Only 18% of consumers aged 60 or over in the US use mobile banking, according to a study from the US Federal Reserve. In its 86-page report “Consumers and Mobile Financial Services 2016”, the Federal Reserve reported its findings from a survey which focused on consumers’ use of mobile technology to “access financial services and […]
Fed Report: Mobile Banking Makes Gains
Mobile banking use in the U.S. has increased to 43 percent of adults with capable devices. But only a relative few of those consumers have paid bills with their mobile phones.
Swiss banks and SIX plan national mobile payments platform
Exchange group SIX and Switzerland’s five largest banks are in talks over a joint mobile payments platform for the country. SIX, retail chains Migros and Coop, and telecoms company Swisscom are planning to create a standardised digital payment system for consumers in Switzerland. A joint statement from the banks – UBS, Credit Suisse, Raiffeisen, PostFinance […]
Splitska Banka live with Comarch’s SB SmartNet banking system
Croatia’s Splitska Banka has gone live with SB SmartNet, a new internet and mobile banking system provided by Polish IT specialist Comarch. SB SmartNet, based on Comarch’s Smart Finance solution, will give Splitska’s retail customers access to account information as well as a multitude of transactional services. The mobile version is designed for iOS and […]
Samsung Pay launches in China
Samsung Electronics and China UnionPay (CUP) have launched the mobile payment service Samsung Pay in China. The South Korean firm joins Apple in entering the country, as the US giant launched its mobile payment system in China last month. That was also in partnership with state-owned bankcard association CUP. Samsung Pay currently supports credit and […]
EBay and IDology Boost Authentication Efforts
New approaches to authentication are kicking into high gear as eBay joins the FIDO Alliance, which promotes biometrics, while IDology launches a mobile authentication product.
Fintech Could Get More U.S. Regulation
The OCC will release a paper to start discussions on new regulations for financial startups, which banks reportedly want.
Smartphones? Credit cards are the most mobile payment method!
The world has been talking about “mobile payments” for years, but the phrase means different things to different people. So what exactly are mobile payments? And how much more mobile than cash or cards can payments actually get, asks Philipp Nieland, co-founder and CTO of PPRO Group. Some people believe that mobile payments are those […]
APEX: Attracting Consumers amid Payment Solution Overload
On the final day of the All Payments Expo in New Orleans on March 23, Sam Maule, emerging payments practice lead at Carlisle & Gallagher Consulting Group, challenged the audience to change the way they think about providing payments solutions. “You all care [about new payment options], but consumers don’t. They have solution overload,” he said.
APEX Panel: Designing for Success in Digital Gifting
For retailers and brands setting their sights on digital gifting, it’s important to maintain a strong focus on card design and delivery to ensure the best possible customer experience, according to a group of retail and gifting experts this week at the All Payments Expo in New Orleans.
AuthenticID Survives APEX Shark Tank
The sharks were circling at the All Payments Expo in New Orleans this week. To close out the day on Tuesday, a group of eight startups and early stage payment companies pitched their idea or product to a group of three payments industry expert “sharks.” When the waters had calmed, AuthenticID, an Atlanta-based provider of identity verification products, had emerged as the winner.
APEX: Dreaming of the Internet of Things
B2B represents the most promising growth area for Web-connected devices and cars that can order products. And prepaid could be how users pay for such transactions.
Google to bring Android Pay to UK
Google is bringing Android Pay to the UK market – with Bank of Scotland, First Direct, Halifax, HSBC, Lloyds Bank, M&S Bank, MBNA and Nationwide Building Society the first to support it. This latest move follows Android Pay’s launch in the US in September 2015, and it should be available in the UK “in the […]
Mobile Wallets Need More Than a Payment Button
Mobile wallets command serious buzz in the payment and retail worlds, but at the All Payments Expo Tuesday in New Orleans, experts pointed out that the technology has yet to gain global traction and consumers will need more from such programs than the ability to make purchases.
Santander “first” UK bank to launch voice banking technology
Santander says it has become the “first” bank in the UK to launch voice banking technology. The solution is provided by Nuance Communications. However, last month HSBC announced it was launching voice recognition and touch security services in the UK, which will be available to 15 million banking customers. This project is also being carried […]
Digital drives DNB to cut branches and staff numbers
DNB will close more than half its branch offices and lay off 600 employees as the rise of digital banking takes its toll on the physical world. The Norwegian bank says “almost all” of its customers have become digital and points to the success of its Vipps app – the number one downloaded app in […]
APEX Keynote: Blackhawk’s Roche on Payments as Engagement
As retailers and brands seek to deepen connections with their customers, emerging payment technologies represent a key opportunity for meaningful engagement with consumers, according to Talbott Roche, president and CEO, Blackhawk Network. Delivering a keynote address on the opening day of the All Payments Expo in New Orleans on Monday, Roche explained how the growing ubiquity of mobile devices and the rise of the connected consumer have created myriad new channels for messaging and engagement.
Neat trick as Hong Kong start-up uses selfies to verify payments
Hong Kong start-up Neat is setting its sights on the millennials’ market and will let customers open a payment account with a selfie. Neat founder David Rosa, a former MD at Citi, says the app and payment card will use facial recognition technology to confirm the holder’s Hong Kong identification card is correct. It’s not […]
DNB’s P2P mobile payments app is Norway’s No 1
DNB’s “first” peer-to-peer (P2P) mobile payment solution in Norway has become the number one downloaded app in the country. Dubbed “Vipps”, and launched six months ago with Tata Consultancy Services (TCS), it is now used by 25% of Norway’s population. The app is available for use on all mobile devices and it allows short chat […]
Mondo signs with Thames Card Technology for debit cards; has problems with mobile app
A UK-based challenger bank, Mondo, has partnered with Thames Card Technology for debit card production and personalisation. Beta test cards will be issued to consumers this year. Mondo, which positions itself as a “mobile first” bank, will be offering a contactless debit card paired with a mobile banking app to its customers. The mobile app’s […]
Japanese Bitcoin Case Will Remain in U.S.
A proposed class-action lawsuit regarding the alleged mishandling of bitcoin accounts in Japan will remain in the U.S., according to a federal court ruling in Chicago this week.
Cash is still king but “uneasy lies the head that wears a crown!”
Even as I am prepping for my next industry event, observations from the last conference I attended continue to permeate my thoughts. The ATMIA US Conference that was held in New Orleans only recently and yet, three items continue to have me thinking about the durability, indeed longevity, of some of the points raised. In […]
U.K.’s Atom Bank Will Use Machine Learning for Mobile Banking
The mobile-only bank, set to open for business later this year, integrates technology from a Xerox subsidiary into its mobile banking app.
Visa Debuts a Digital Swipe for Visa Checkout
The new design for the online and mobile payments service promises to increase transactions, according to Visa testing.
Amazon’s Alexa Enables Capital One Voice-Controlled Banking
Consumers with Amazon’s Echo and other devices can pay their Capital One credit card bills and perform other tasks through the new service.
