Following a new privacy shield agreement, which upon approval will replace an expired Safe Harbor pact between the U.S. and the EU Commission, European Data Protection Supervisor Giovanni Buttarelli last week said he supported the agreement.
Online marketplace giant Amazon is acquiring India-based online services provider EMVANTAGE Payments.
Peru’s new nationwide mobile money network has launched with the goal of bringing 5 million of the country’s unbanked citizens into the financial system over the next five years.
A Wendy’s customer has filed a class action complaint against the fast food chain for its alleged failure to protect consumers’ credit and debit card information.
Dallas Capital Bank, a local, independent bank is adding mobile banking, digital banking and electronic payments to its customer service functions. The firm has begun integrating its bank’s new digital services with its existing FIS backend core and payments systems. It is also adding a suite of digital banking systems, from digital account origination to […]
Nearly five years after Square founder Jack Dorsey announced that Visa had invested in the business, the payments network reveals its stake in the m-POS company, which went public last year. In related news, a Swedish m-POS provider launches a loan service for merchant clients.
MoneyGram agrees to pay $13 million to settle claims that criminals used its network for fraudulent transactions. The company also will increase its anti-fraud activities.
A year after the Federal Reserve announced a plan to enhance the speed, safety and efficiency of payments in the U.S., the program has made substantial progress, the Fed reports.
Spanish financial services group BBVA is changing its fintech investment strategy, closing its in-house VC fund and contributing $250 million to a new, independently managed firm, Propel Venture Partners.
Visa Europe is expanding its Visa Europe Payment Tokenisation Service (VEPTS) for cloud-based payments. VEPTS will be available for payment credentials such as banks’ own mobile payment apps, a variety of wearable and other connected devices, internet browser-based wallets, and retailer-specific checkout offerings such as Visa Checkout. Sandra Alzetta, executive director product enablement for Visa […]
Popular Community Bank and Oriental Bank are to deploy FIS Cardless Cash, a mobile banking app to withdraw money from many ATMs in the US. Financial services technology provider FIS and PayPal launched Cardless Cash in January 2015, as a mobile ATM solution that avoids the plastic debit card. This technology provides banks with a revenue opportunity from transactions […]
BBVA, a major shareholder in Atom Bank, a UK challenger, has announced an increase in its financial technology fund to US$250 million from US$100 million and a partnership with Propel Venture Partners which will see Propel managing the investment independently. Propel will use the US$250 million in a US and a European fund while opening an office […]
A Blackhawk study finds that grocery shoppers with gift cards prefer larger online rebates than smaller instant discounts at checkout. The study also examines which mobile apps top shoppers’ lists.
Canada’s payments system is undergoing a rapid transition, with mobile P2P, e-wallet and contactless transactions on the rise, according to a report from the Canadian Payments Association.
Retailers have long recognized the importance of customer engagement to drive sales and retain customers. But Reno, Nev.-based PaySwag is proving the power of engagement to improve results in a somewhat unexpected sector—bill payments.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
First Data intends to establish a research and development center in Ireland that will house up to 300 skilled employees to centralize work on a number of the company’s leading technology platforms.
Oh the irony. On the same day President Barack Obama and his administration presented plans to strengthen the country’s cybersecurity, the IRS announced an attack on its Website.
A U.K. government panel is calling for the development of an open banking standard that will enable banking data to be shared and used securely, giving consumers access to tailored financial solutions and an easier way to compare products and services.
Police in Louisville, Ky., have arrested nine people for allegedly running a fraud ring centered around gift cards.
Knowledge is power. And, that’s particularly true for merchants and marketers that want to track consumers from online ad campaigns to in-store purchases. Arming merchants with the right knowledge is the goal of Discover’s Merchant Data Platform.
Visa is introducing a new service to help Visa issuers empower consumers to monitor and control how, where, and when their Visa credit, debit, and prepaid accounts can be used. It provides real-time visibility and control over their accounts so consumers can take immediate action to protect themselves from security threats and fraud. Visa Consumer […]
Visa’s newest service enables prepaid and other cardholders to exercise more control over their accounts via spending controls and alerts. Issuers can choose to offer the service to customers.
Four more startups have been selected for the Commerce.Innovated. program. The companies represent the fourth class chosen by MasterCard and Silicon Valley Bank as part of a program to help startups get their products and services off the ground.
Bitcoin continues to encounter hurdles as its supporters try to facilitate the digital currency’s mainstream acceptance. Though certain states and countries are welcoming bitcoin, or permitting it with certain provisos, Russia is considering a ban.
The Prepaid International Forum (PIF) is celebrating its 10-year anniversary in 2016. Emily Baum, a non-executive board member of the forum and business development director of PrePay Solutions, tells Paybefore more about PIF, where the 23-member group is headed and how the industry is responding to calls for increased prepaid regulation following the Paris terrorist attacks.
Green Dot and subsidiary Santa Barbara Tax Products Group have announced a pair of promotions to make this time of year less taxing on consumers while helping independent tax preparers get more customers coming through their doors. One of the promotions involves up to a $750 free advance toward consumers’ tax returns.
Visa wants to strengthen its commerce offerings by opening up its technology treasure chest to software developers bent on improving consumer experiences. The payment network has launched Visa Developer, an “open platform that gives application developers access to Visa’s payments technology, products and services.”
The money keeps rolling in for fintech. Fit Pay, a wearable payment technology startup, raises $3.1 million in seed capital, while distributed ledger technology companies collectively have raised $103 million.
Cybercriminals continue to target payments providers and retailers, with Gyft and Neiman Marcus among the latest firms to announce separate data breaches. The attacks highlight two major data security issues facing financial providers and retailers: third-party security and the migration of fraud to online accounts as a result of enhanced POS security brought about by the arrival of EMV.
Trade Bank of Iraq (TBI) is working with core banking technology provider Misys to upgrade to develop a digital platform. Misys reports it has previously run two major projects with TBI in 2003 and 2009. The bank, claims to have introduced the market’s first ATM solutions and Visa and Mastercard offerings and is set to […]
The European Central Bank has selected connectivity provider SIA, in partnership with telco Colt, for its connection to TARGET2-Securities (T2S), the delayed centralised European platform for the settlement of domestic and cross-border securities transactions. The European Central Bank is expected to migrate to SIA and Colt’s value-added network infrastructure in June 2016. The two companies will also provide the ECB with a message processing […]
Visa Developer, will offer software application developers will open access to Visa’a payments technology, products and services. The new Visa Developer platform is designed to help financial institutions, merchants, and technology companies meet the demands of consumers and merchants, who increasingly rely on connected devices to shop, pay and get paid. At launch, the new […]
European Central Bank (ECB) figures appear to show that cashless payments transaction volumes in 2014 remained flat at 68 billion payments. However, Deutsche Bank analyst Heike Mai, who specialises in payments and shadow banking, has published a report that corrects this conclusion. Entitled ‘Payments in the euro area: Are they stagnating? – No!’ the report […]
At Super Bowl 50 on Sunday, Visa will promote contactless payments at concession stands and in-seat mobile ordering for fans who don’t want to miss any action. Ingenico also announces a big terminal deal for the game.
ABN AMRO is offering ‘webcare’ via Snapchat, the self-deleting message and picture service, which has 1 million Dutch users. Jeroen van de Ven, ABN AMRO Social Media Manager: ‘If a specific target audience opts for a new channel in such large numbers, we as a bank have to adapt, in an accessible way that fits […]
Western Union continues to extend its digital reach with access to approximately 664 million users of mobile messaging app Viber, which enables its customers to send free text messages, photos, videos and make free calls with its push-to-talk capability, among other features.
Pin4, a cardless ATM withdrawal system, could expand to some 70,000 U.S. cash machines by the third quarter of 2016, up from approximately 15,000 in the first quarter of 2016, says CEO Richard Witkowski.
Electronic payment options for consumers are proliferating, and shoppers expect merchants to accept the full gamut of form factors. But for retailers—especially small and midsize enterprises (SMEs)—it can be tough to keep up. That’s where Poynt comes in.
The European Commission (EC) has presented an action plan to fight the financing of terrorism, including targeted amendments to the Fourth Anti-Money Laundering Directive (AMLD) that was implemented in May 2015. These include an amendment to include a list of all compulsory checks financial institutions should carry out on financial flows from countries having strategic […]
