Money laundering is a global phenomenon, evident in many parts of the world. Techniques have ranged from simple bulk cash movements across borders to more sophisticated techniques hidden in trade transactions. As trade between the Middle East and the rest of the world continues to grow, the threat of trade based money laundering becomes more […]
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.
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 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.
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.
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.
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 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 has rolled out its mobile ordering and payment service to all 7,400 of the coffee giant’s U.S. locations.
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.
For those who attend Sibos every year, it can seem as though the conference never actually ends – it simply adjourns until the following year. This year, the rise of distributed ledgers and the role of non-bank players in financial services look set to top the agenda – but there will also be a strong focus on innovation, women in finance and millennials.
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 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 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.
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.
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.
Nine major global investment banks have formed a partnership to explore the potential of distributed ledger technology in financial markets. The project, led by financial technology company R3, aims to create early standards for the emerging technology that will make it easier and more efficient as it grows.
EMVCo, the EMV technical body collectively owned by American Express, Discover, JCB, MasterCard, UnionPay and Visa, has appointed Bastien Latgé to the newly created role of director of technology.
eNett International, a provider of dedicated B2B travel payment solutions, has appointed Carl-Olav Scheible chief commercial officer.
Fifth Third Bancorp has named Timothy Spence executive vice president and chief strategy officer.
FLEETCOR Technologies Inc., a global provider of fuel card and workforce payment products to businesses, has appointed two business unit executives.
Mobile commerce solutions provider Mobetize Corp. has appointed Donald Duberstein independent director and chairman of the Remuneration Committee.
National Gift Card Corp., a marketer and supplier of gift cards for use in loyalty, incentive and rewards programs, has appointed Bill St. Clair senior vice president of operations. NGC Europe also made two recent appointments to its management team: Christine Rodriguez and Neil Pagnam.
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.
Online money transfer service WorldRemit has announced the hiring of Gabriella Poczo as chief technology officer.
UK building society Nationwide has begun a £500 million project to improve its branch network using NCR latest generation of self-service ATMs. The project aims to bring the kind of self-service experience customers can get at supermarkets to the retail bank branch.
Those enabling payments for online gaming Websites have a new, rather large competitor.
Fiserv Inc. will be enabling consumers to access their cash without using a payment card at participating ATMs.
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.
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.
UKGCVA’s reply to Ireland’s proposal to ban expiration dates on gift cards and vouchers.
Visa set a deadline for its debit card issuers to request extra payment on top of the monies the issuers will receive in accordance with an earlier settlement reached with Target related to the 2013 breach.
Litigation involves a $7.25 billion settlement deal with retailers, after it was disclosed that a defense attorney shared information with an attorney for the plaintiffs.
Abercrombie & Fitch and RadioShack class action decisions involving closed-loop gift cards warrant attention.
Saxo Payments isn’t a bank, and the chief executive isn’t a banker. So how does he think he’s that’s going to help shake up international payments?
When Discover Financial Services goes live this week with Apple Pay, customers who’ve been waiting to access the m-payments service with a Discover card will get a chance to reap one of the richest rewards programs available for Apple Pay users.
Startups in the San Francisco Bay Area brought in 71 percent more investment capital than those in other areas of the U.S., according to new data from FinLab. Meanwhile, London is hosting 10 of Australia’s most promising fintech startups, and Visa Inc. looks to add 2,000 new technology professionals to boost its digital financial services business area.
Mozido has lofty expectations for TradeEase—what the company says is the first-ever platform enabling cross-border e-commerce payments between China and Russia.
Pascal Augé, head of global transaction and payment services, Société Générale speaks to Daily News at Sibos about the growing importance of transaction banking for corporate customers
Last year, the ISO 20022 standard celebrated its 10th birthday, and consequently it may seem a bit odd to say that after more than a decade since its inception, the financial community really should start taking assertive action. Since 2004, the ISO 20022 standard has, thankfully, witnessed substantial adoption but it has been what could be termed an “uncontrolled adoption”. So why is action so critical now?
