PayTech


Visa Considers Acquisition of Visa Europe (July 27, 2015)

Visa Inc. has confirmed it’s in negotiations to acquire Visa Europe in what could be a $20 billion deal. Visa expects to resolve discussions about the possible acquisition in October and provide an update about its decision during the company’s fourth quarter earnings report.

Square Secretly Files for IPO (July 27, 2015)

After more than a year of rumors, it appears Square finally could be taking the plunge and going public. The m-POS pioneer—which has been expanding steadily into other verticals—has filed confidentially for an IPO with the SEC, according to Bloomberg, which cited sources with knowledge of the plan.

Cometh the Digital Bank

The only banking activity that is digital is taking money out of clients’ accounts, which is performed in real-time with 100% consistency. After that the banking journey is far slower and less consistent.

Blog: What the Blockchain Can Do for Gift Cards

While the role of bitcoin itself is still in question, there is a growing industry consensus that the blockchain—bitcoin’s underlying technology—may become to value, what the Web has been to information. And, the gift card industry may be the first to reap the benefits.

People on the Move: Steve Antonakes, CFPB

Steve Antonakes has stepped down from his position as deputy director of the CFPB as well as his position as associate director for supervision, enforcement and fair lending.

PayPal’s Shares Rise as it Flies Solo (July 20, 2015)

PayPal’s stock rose more than 5 percent on its first day of trading as an independent company, bringing its total market capitalization to about $50 billion, making it an even more potent force in the red-hot payments M&A arena, observers say.

Meta Buys Tax Refund Company for $50 Million (July 20, 2015)

Meta Financial Group Inc. and bank subsidiary MetaBank are getting ready for tax season early with the acquisition of Fort Knox Financial Services Corp. and its subsidiary, Tax Product Services. The deal, valued at approximately $50 million, bolsters Meta’s business in the tax refund prepaid card vertical.

U.K. Payments Study Shows Consumers’ Need for Speed

Faster payments could be the key factor in getting U.K. consumers to switch bank accounts, a new report says. In a study commissioned by ACI Worldwide, 45 percent of 2,000 of consumers polled in the U.K. said the prospect of faster and more convenient electronic payments would encourage them to consider moving their accounts to a different bank.

Ageing reconciliation systems cost firms dear

Two-thirds of top-tier financial institutions have established reconciliation centres of excellence following a recent wave of consolidation of the reconciliation function – but more than half of firms say their reconciliation technology platform was at least five years old, and a quarter of respondents use platforms more than nine years old.

UK consumers look for speed

Nearly half of UK consumers say that faster payments are a factor in their choice of back account provider, with 45% saying that the offer of faster electronic payments would encourage them to switch their bank account provider.

Equniti to acquire Transglobal Payment Solutions

Equiniti has exchanged contracts to acquire TransGlobal Payment Solutions, whose platform is used by Equiniti International Payments, the group’s foreign exchange payments business, launched in 2011.

BNP Paribas becomes CHAPS’ 22nd direct participant

BNP Paribas has become a direct participant in CHAPS, the UK’s same day high-value electronic payment system, the 22nd bank to join in this role. More are expected to join by the end of 2016. As a direct participant, the bank can directly send and receive irrevocable, guaranteed sterling payments with same day finality, rather than through a third-party.

Volante launches ‘Babel Fish’ for financial messaging transformation

A ‘Babel Fish’ for financial messaging has been launched by Volante Technologies with the intention of simplifying corporate-to-bank integration and removing obstacles to on-boarding. Like the fictional universal translator from Hitchhikers’ Guide to the Galaxy, the system translates incoming message formats into something that the receiver can understand.

PSR appoints chair of the Payments Strategy Forum

The Payment Systems Regulator, the new economic regulator for UK payment systems, has appointed Ruth Evans as the chair of the Payments Strategy Forum. Evans is currently chair of The Authority for Television on Demand, the independent co-regulator for the editorial content of UK video on demand services.