As e-merchants seek to reduce friction for their Web and mobile customers, authentication specialist iovation has launched a new “password-less security” service, which the company says streamlines the user experience while maintaining robust protections.
German digital bank Number26 and TransferWise, a UK-based international money transfer platform, have teamed up to provide Number26 customers with direct “in-app” access to TransferWise’s service. Number26 co-founder and CEO Valentin Stalf says the company wants banking products to be “accessible to customers with one tap, creating a fintech hub inside the Number26 app”. The […]
Vietnam-based Techcombank has gone live with Misys’ FusionCapital software. The new platform – based on Misys’ FusionCapital Kondor product – supports treasury and capital markets (TCM) operations at the bank. The deal was inked in November 2014. Techcombank opted to work with Misys as it has offered “a configurable, fast and cost-effective analytics platform”, explains […]
British Arab Commercial Bank (BACB) is looking to modernise its core software. It is believed the bank has settled for a new platform – Temenos’ T24. BACB is a London-based wholesale bank that specialises in trade finance and treasury services to Africa and the Middle East. The bank has been in the system selection mode […]
PayPal is teaming up with Mexican telecommunications giant América Móvil as it looks to expand in Latin America. The alliance’s focus will be on a new mobile wallet platform, which lets users pay for items by smartphone scans. With América Móvil on board, PayPal can target 140 million users in Brazil and Mexico. Dan Schulman, […]
Payment firms i2c and TIS have formed a strategic partnership to standardise prepaid payment solutions on the i2c processing platform. Under terms of the multi-year partnership, Japan-based TIS will adopt i2c’s cloud-based platform as its standard for prepaid card processing and expand its use to support credit and debit card payment processing in “key Asian […]
The UK’s Payment Systems Regulator (PSR) says banks should sell their stake in the nation’s payments infrastructure, VocaLink, to “help increase innovation and competition”. The PSR has published its provisional findings of its market review into the ownership and competitiveness of the infrastructure that supports the payments systems; Bacs, Faster Payments System (FPS) and LINK. […]
In Green Dot Corp.’s first earnings call since investor Harvest Capital Strategies called for the ouster of Green Dot CEO Steve Streit and two board members, Streit said that while neither he nor the board members will be going anywhere, the company is open to Harvest’s input on how to improve the company’s performance and its advice on adding potential new board members.
The Payment System Regulator (PSR), a government body created to oversee the payment systems industry in the U.K., is calling for the major banks to sell a part of their stakes in U.K.-based payments provider VocaLink, which it claims will create more fertile ground for innovation and competition.
Apple Pay has a new foothold in corporate payroll: Payment Data Systems said that its Akimbo prepaid card program now works with the mobile wallet from the computer maker.
In the battle for mobile wallet supremacy, JPMorgan Chase this week got venti-sized boost in the form of a partnership with Starbucks.
This webinar will look at how real-time ubiquity and reach are crucial and collaboration is the winning strategy. As real-time continues to evolve, join us to discuss how it opens up opportunities.
The Federal Reserve Board has reappointed Federal Reserve Bank presidents and first vice presidents. Each officer will serve a five-year term beginning March 1, 2016.
Ingenico Group, a global payment solutions provider and 2016 Pay Award Winner, has announced that the Technology Association of Georgia (TAG) has named the Alpharetta, Ga.-based company one of the Top 40 Innovative Technology Companies in the state.
The Network Branded Prepaid Card Association (NBPCA) announced Robert Skiba will return to the role of chairman of the board at the NBPCA. The association named additional officers for FY 2016.
AsiaHawala, Iraq’s “first” mobile money service, has chosen Mahindra Comviva’s Mobiquity Money solution as it looks to expand its reach across the country. The Iraqi company offers consumers a mobile account for a range of financial transactions – such as P2P transfer, bill payments, merchant payments, salary payments and a recharge service. With Mobiquity Money […]
Florida-based Net Element has launched its mobile payments platform, Digital Provider, in Azerbaijan. The venture is done via the company’s Russian subsidiary, OOO Digital Provider. The company says the new integration allows content providers and aggregators access to all “major” mobile operators in the country. It has also signed a contract with a national television […]
Last fall Talbott Roche, along with seven other female executives at Blackhawk Network, was selected as one of the Women Driving Payments Change. Now she takes the helm of Blackhawk Network, a company she helped build from the ground up.
Instead of focusing on P2P, Ingo Money Inc. has its sights set on enabling what Founder and CEO Drew Edwards calls “me-to-me” payments. The company, which specializes in digitizing cash and checks through its Good Funds Network, today announced the rollout of a service within its Ingo Money App that enables consumers to cash a check with their smartphones and send the funds instantly to multiple accounts, including prepaid, PayPal, bank and private-label credit card accounts.
There were more than 1 billion mobile money transactions worldwide in December 2015, according to a report released by the GSMA this week at the mobile association’s Mobile World Congress in Barcelona. In its fifth annual State of the Industry Report on Mobile Money, the GSMA outlined the growth of mobile money, which it said is “changing the landscape of financial inclusion.”
The demand for large cross-border transactions is on the rise, and consumers making those purchases are seeking the most convenient and cost-effective transaction methods and channels. That’s according to Flywire, a 4-year-old company that got its start in the international student tuition sector and has since expanded to enable multiple types of cross-border payments.
Starbucks will change its loyalty program, rewarding what consumers spend instead of how often they visit. The change, due in April, has drawn some criticism from the chain’s customers although the coffee giant claims customers suggested it.
Digital financial services (DFS) have the power to transform the lives of millions living in poverty. However, the lack of merchant acceptance presents a significant obstacle to its success. Sacha Polverini, chairman of the International Telecommunication Union’s (ITU) focus group on digital financial services and Carol Benson, managing partner at Glenbrook Partners, look at how […]
The European Automated Clearing House Association (EACHA) is to deliver a framework for ACH interoperability for instant payments by March 2016. EACHA leads, upon invitation by the European Central Bank (ECB), a taskforce consisting of ACHs (including members of EACHA, EBA Clearing and representatives of Target2), national central banks, the ECB, and “ad hoc other […]
Wearable payments technology and the Internet of Things continue to gain steam, with MasterCard and Visa announcing separate initiatives involving the technologies at Mobile World Congress in Barcelona this week.
Growing demand for prepaid products of all types in Canada helped drive Vancouver-based issuer Peoples Trust to add 150 new programs in 2015, and led to a 19 percent increase in the bank’s overall prepaid load volume, to CAN$1.2 billion (US$870 million), for the year, Peoples tells Pay News.
Apple Pay launches in China via a UnionPay deal, giving further mobile payment competition to homegrown rivals such as Alipay. Meanwhile, Samsung Pay also is set to enter the market.
Natixis Payment Solutions has teamed up with French start-up CopSonic to create SwipeSonic, an ultrasound payment solution for online shopping transactions. CopSonic’s technology uses ultrasound to encrypt information within music and voice, or transmit data “entirely inaudibly to the human ear”. Emmanuel Ruiz, CEO of CopSonic, says: “Sound is the easiest and most effective technology […]
MasterCard has unveiled its MasterCard IQ series that uses real-time intelligence to tackle fraud and the increasing number of false declines. The plan is for cardholders and merchants to see a reduced number of transactions unnecessarily declined, while maintaining the “highest levels” of security. Javelin Strategy & Research estimates that one out of every six […]
Barclays and BlackBerry are bringing BBM, the mobile instant messaging service, to Pingit money transfers in the UK. BBM users can now make mobile payments to each other using Barclays’ mobile payment app Pingit. Matthew Talbot, SVP, BBM at BlackBerry, says to “exchange money was a logical extension” of BBM’s functions. Once a user has […]
Payments provider Ingenico Group has reported a revenue of €2.197 billion in its full year (FY) 2015 results – a rise of 14% on a comparable basis. For the period ended 31 December 2015, it says revenue was also up 37% on a reported basis, and adds that the US is now its number one […]
India-based Yes Bank is partnering with Ultracash Technologies to launch payments processing through sound waves. The bank, the fifth largest in the Indian private sector, says the collaboration will let Ultracash issue Yes Bank-sponsored mobile wallets and use its Immediate Payment Service (IMPS) payments platform for the processing of instant proximity transactions. Ritesh Pai, senior […]
Iranian banks are being reconnected to Swift’s international payments system after a four-year hiatus. Following the lifting of economic sanctions last month under the nuclear deal with world powers, Iran’s Central Bank and 15 other banks have restored access to Swift. The Central Bank says: “The on-boarding process including administrative and technical measures for all […]
Apple has launched its mobile payment system in China today, in partnership with state-owned bankcard association, China UnionPay. The company will face tough competition, but it received good news this week when Industrial and Commercial Bank of China (ICBC) said its customers would be able to use Apple Pay. In an interview with Reuters, Jennifer […]
Three commercials tied to the big game, including one from PayPal, reflect how transactions are changing and what consumers expect from their payment systems.
The CFPB wants the nation’s top banks to offer consumers more lower-risk account choices. That could be good news for the prepaid card industry even as some might grumble about the agency meddling in their affairs.
With the hospitality industry accounting for 38 percent of credit card fraud, and recent breaches showing ongoing vulnerability, the time has come for stronger security measures.
Consumers certainly know of Apple Pay. But recent survey results shed light on how shoppers are employing the mobile payment technology and suggest that challenges to further use remain.
London-based start-up Curve has launched a physical payment card that can combine an unlimited number of bank cards into one place, and has Apple Pay in its sights. The Curve card is built on the MasterCard network, but with a nod to the non-physical it is supported by a mobile app. Shachar Bialick, CEO and […]
With recent legislation calling for increased cooperation between companies and government agencies to combat potential cyberthreats, officials are asking financial institutions to include information such as IP and bitcoin wallet addresses in suspicious activity reports (SARs).
