First Data Aims to Raise $3B with October IPO (Oct. 1, 2015)
Although it may not be as large as analysts initially predicted, First Data Corp.’s IPO could be the largest public offering of 2015.
Payments
EMV: Third Time’s a Charm?
I recently received my EMV debit card from a top 5 U.S. issuer.Tell us about your experiences with EMV at the POS.
Rep. Tipton, CFPB Director Cordray Square off on Prepaid (Oct. 1, 2015)
Rep. Scott Tipton (R-Colo.) and more than 40 other lawmakers are urging CFPB Director Richard Cordray to be cautious in prepaid rulemaking and to make sure the government Direct Express program is not adversely affected by the forthcoming rule.
Viewpoint: Apple Pay Branches out of the Orchard
You’d think an A-list celebrity had shown up when Apple Pay launched in the U.K. in July. Despite some speed bumps related to transit and international acceptance, prepaid providers shouldn’t ignore the mobile wallet.
Blog: Marketing in a Mobile World Comes Down to Customer Experience
Fundamental shifts in the way socially connected and digital-savvy consumers connect have altered the customer-engagement and marketing landscape forever. To succeed, retailers and consumer brands must use data-driven engagement strategies.
Viewpoint: Good First Impressions Make for Profitable Relationships
The time has come for financial institutions to truly reap the benefits mobile connectivity offers, and the place to begin is with customer onboarding.
Viewpoint: Apple Pay Usage Report
Despite Apple Pay’s high-profile U.S. launch, recent First Annapolis primary consumer research suggests that only one in five iPhone 6 users has actually made a purchase with Apple Pay. But, that’s not the only stat that matters.
People on the Move: New Board Members, CFPB
The CFPB has appointed new consumer finance experts from outside the federal government to the Consumer Advisory Board, Community Bank Advisory Council and Credit Union Advisory Council.
Company on the Move: Gemalto, Digital Payments Award
Digital payments security provider Gemalto has won the Juniper Research 2015 Award for Digital Payments for its Allynis Trusted Services Hub.
Companies on the Move: R3, Distributed Ledger Initiative
Financial innovation firm R3 announced that an additional 13 of the world’s leading banks have joined its partnership to design and apply distributed ledger technologies to global financial markets.
Green Dot CEO Steve Streit: Consumers Demand ‘Great’ Mobile Experience (Sept. 29, 2015)
Green Dot Corp. sees continued strong demand for the mobile features of its iconic prepaid card and its GoBank checking account. And though the company hasn’t embraced Apple Pay or Android Pay, adding mobile payments access is on the company’s horizon, Steve Streit, Green Dot’s CEO, told attendees at PayThink in Las Vegas today.
Kerv Kick-Starts Fundraising Effort for Ring Enabling Contactless Payments (Sept. 29, 2015)
London-based fintech startup Kerv has turned to crowd-funding site Kickstarter to raise mass-production capital to enter the field of wearables with an NFC-enabled ring that allows consumers to make contactless payments. The Kickstarter campaign launched Friday in an effort to raise nearly $117,000 and as of this morning, the company already has raised more than $52,000.
Report Cites Vulnerabilities in Voice Authentication (Sept. 29, 2015)
Voice-based user authentication systems are vulnerable to “voice impersonation attacks,” where criminals gain access to a sample of a user’s voice and use that sample to build a model of the user’s speech pattern with voice-morphing software, University of Alabama at Birmingham researchers say.
Alibaba, Ant Financial Invest in Paytm (Sept. 29, 2015)
Chinese e-commerce giant Alibaba and its affiliate Ant Financial announced today an agreement with India’s One97 Communications Ltd. to invest in Paytm, an m-commerce platform and One97 subsidiary. The capital infusion will enable Paytm to achieve greater scale and develop its m-commerce and payment ecosystem in India and invest in marketing, technology and personnel. The companies did not disclose specifics of the deal, however it’s believed the investment is worth approximately $600 million.
Reports: Square Preparing for IPO? (Sept. 28, 2015)
Square Inc. may be getting ready to file an initial public offering within the next two weeks, according to a report in Fortune magazine, adding weight to rumors going back more than two years about the m-POS company’s desire to go public.
Nearly 90% of Cybersecurity Experts Expect Uptick in M-Payment Data Breaches (Sept. 28, 2015)
As the mobile wallet providers battle for market share—the most recent being today’s expansion of Samsung Pay to the U.S.—a sobering percentage of cybersecurity experts expect mobile payment data breaches to climb over the next 12 months.
EC Seeks Input on Simplifying Cross-Border VAT Payments (Sept. 28, 2015)
With European Union law now requiring merchants to tax digital goods based on which country the buyer is located in—instead of where the seller is located—the European Commission (EC) is canvassing interested parties for feedback on the system of reconciling and paying taxes to national governments.
Samsung Pay Boasts $30MM Transaction Volume, U.S. Launch Monday (Sept. 24, 2015)
Samsung is hailing its mobile payment service Samsung Pay a success in South Korea a month after it launched in the country, citing more than $30 million in transaction volume and over 1.5 million transactions.
Barclays, Verifone Partnership Adds Pingit as Checkout Option in U.K. (Sept. 24, 2015)
Barclays’ Pingit app, which began as a U.K. P2P service in 2012, now is available for users to make online purchases at tens of thousands of e-commerce Websites via mobile devices through a new partnership with Verifone, and Barclays says it hopes to extend the service to POS locations.
Australian Banks Give Boot to Bitcoin Companies (Sept. 24, 2015)
Australia’s major banks reportedly are closing the accounts of more than a dozen of the country’s digital currency providers, claiming AML concerns.
The CFPB to Host Arbitration Hearing in Denver (Sept. 24, 2015)
The CFPB has announced a field hearing on arbitration, which will be held in Denver on Wednesday, Oct. 7 at 11 a.m. MDT.
Money20/20 Founders, Kingsborough Launch Shoptalk (Sept. 23, 2015)
Next-generation commerce is the focus for Money20/20 founders Anil Aggarwal and Jonathan Weiner, who have partnered with Don Kingsborough, entrepreneur and a Blackhawk Network founder, to launch a new conference called Shoptalk.
First Data Exec: With Android Pay Launch, U.S. Mobile Payments Ubiquity ‘A Couple of Years’ Away (Sept. 23, 2015)
This month’s launch of Google Inc.’s Android Pay, just weeks before the U.S.’s Oct. 1 EMV liability shift date, is a key milestone in expanding mobile payments access to the majority of consumers, but we’re still “a couple of years” away from mainstream m-payments with ubiquitous support from banks, merchants and handset makers, predicts Dom Morea, senior vice president of business development for First Data Corp.
MasterCard Program with Singapore University Focuses on Financial Inclusion, Innovation (Sept. 23, 2015)
MasterCard and Singapore Management University (SMU) today announced a two-year program to drive research on social entrepreneurship, innovation and financial inclusion. The Social and Financial Inclusion Program features an annual forum, a seminar series and funding toward student projects.
PayNearMe, 7-Eleven Offer Bill Pay Services (Sept. 23, 2015)
Financial services provider PayNearMe has partnered with 7-Eleven Inc. to launch the PayNearMe Bill Pay app, enabling consumers in the U.S. to pay more than 17,000 national and local billers, such as cable companies, utilities providers and insurance companies, with cash using a barcode scan at participating 7-Eleven stores.
New BBVA Compass GPR Card Focuses on Budgeting Mobile App (Sept. 22, 2015)
BBVA Compass yesterday announced the launch of a new Visa-branded prepaid card and budgeting mobile app, ClearSpend, which the bank says will appeal to prepaid card users across all ages and income levels who want better control of their finances.
New York State Issues First BitLicense (Sept. 22, 2015)
After much debate over whether New York Department of Financial Services’ (NYDFS) state-level framework for licensing digital currency companies is too restrictive, the state agency has issued its first regulatory license, the so-called BitLicense, to Boston-based mobile payment company Circle Internet Financial.
Shift4 Touts Service Expanding M-POS Capabilities for Larger Merchants via Software (Sept. 22, 2015)
Shift4 Corp., a merchant payments gateway provider, today announced a software-based m-POS service enabling larger merchants to accept all types of payments anywhere—via any mobile device—without disrupting existing relationships with processors and acquirers, which analysts suggest is an example of a new breed of payments services.
Starbucks Mobile Order-Ahead Now Available Throughout U.S. (Sept. 22, 2015)
Starbucks has rolled out its mobile ordering and payment service to all 7,400 of the coffee giant’s U.S. locations.
Roundtable: a world of real-time payments
Call it immediate, instant, fast(er) or real-time, the drive to speed up payments is being discussed in almost every country. As part of that discussion Banking Technology and ACI Worldwide brought together international participants from Australia, Europe, the UK and the US review the opportunities and challenges ahead.
Worldpay Hopes to Reap $1.4 Billion in IPO
With several companies vying to acquire Worldpay Group Ltd., Advent International Corp. and Bain Capital, owners of the U.K.-based payment processor, have decided to proceed with their planned IPO of the company with the hopes of raising $1.4 billion.
Apple Pay Registers for Business in China (Sept. 21, 2015)
Apple Inc. is making good on its plan to bring Apple Pay to China, with news that it’s registered a subsidiary, Apple Technology Service (Shanghai) Ltd. in Shanghai’s free-trade zone, with permission to operate Apple Pay, but it’s already late to the m-payments party in China, say observers.
Stratos Kicks off Partnership Program with Eastern Bank (Sept. 20, 2015)
Stratos Inc. is kicking off a new partnership program with Eastern Bank, making it the first financial institution to distribute the company’s Bluetooth Connected Card, which combines multiple payment, loyalty, membership and gift cards into one.
RBC Goes Live with HCE-Based M-Payments (Sept. 17, 2015)
Royal Bank of Canada this week introduced a new—and still somewhat rare—approach to connecting its customers to its RBC Wallet mobile payments service via host card emulation (HCE), so it works with any NFC-based Android handset, regardless of its brand or the user’s wireless carrier.
Urban FT, Sprint to Launch Revamped Digital Wallet (Sept. 17, 2015)
Starting in January 2016, Sprint’s 57 million customers will have access to a revamped digital wallet, Sprint Money Express, through a joint initiative between the telecom and Urban FT, a provider of white-label digital banking apps.
Company on the Move: Prepaid Financial Services, The Sunday Times Hiscox Tech Track 100
The Sunday Times Hiscox Tech Track 100, which ranks the U.K.’s private technology, media and telecom companies with the fastest-growing sales over three years, has ranked Prepaid Financial Services, a global payment services provider and fintech company, No. 22.
PayPal Revives Online Gaming Payments (Sept. 15, 2015)
Those enabling payments for online gaming Websites have a new, rather large competitor.
Fiserv Completes Card-Free ATM Pilot, Introduces AML Compliance Solution for Gaming Industry (Sept. 15, 2015)
Fiserv Inc. will be enabling consumers to access their cash without using a payment card at participating ATMs.
Stripe Unveils Relay for One-Click Purchases within Twitter, Mobile Apps (Sept. 15, 2015)
San Francisco-based Stripe is hoping to accelerate the spread of buy buttons, this week unveiling Relay, a service enabling consumers to make a purchase from within a mobile app or a social media site like Twitter, without bouncing to a merchant’s e-commerce site.
Study: Mobile Increasingly Shaping Retail Experience in U.K. (Sept. 15, 2015)
Smartphones are becoming more integral to the shopping experience in the U.K., where consumers are increasingly using mobile devices to make in-store and online purchases and to research products, a new report found.
