Cards


Mastercard Continues Masterpass Push with Postepay Integration

Mastercard and Poste Italiane have struck a new deal under which the Italian postal service’s Postepay app has integrated Masterpass to enable users to make mobile purchases—a deal the companies hope will appeal to Postepay’s large base of younger users.

Bots and Biometrics: The Mobile World Congress Shows the Future of Payments

Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media.

Mastercard makes global mobile payments go Qkr

Mastercard says it will significantly expand the scope and capabilities of its Qkr with Masterpass mobile payment service. Not only is the technology set to debut in the US and five other countries, but it will now integrate with retail software provider Oracle, reports Banking Technology‘s sister publication Paybefore. At the Mobile World Congress in […]

Mastercard, Transport Authority Test Contactless Cards While Eying Mobile Payments

Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot program enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system. Although the tap-and-go pilot hasn’t begun yet, the next step of enabling consumers to use mobile wallets and wearables already is in the works.

Mastercard Gives its Mobile Payments a Bigger Global Stage

Mastercard significantly will expand the scope and capabilities of its Qkr with Masterpass mobile payment service, the network said Feb. 27. Not only is the technology set to debut in the U.S. and five other countries, but it will now integrate with retail software provider Oracle.

Barclays’ banking takes weekend off

Customers at Barclays Bank suffered a worrying weekend due to problems with cash machines, debit cards and phone banking. At 2pm (UK time) on 25 February, Barclays become aware of the issues and advised customers to use other banks’ cash machines. The customers would probably have worked that out for themselves. Technical issues are affecting […]

Top fintech stories this week – 24 February 2017

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! IBM and Northern Trust debut blockchain for private equity Uses the Hyperledger Fabric. Visa opens new innovation centre in London It’s the latest and largest one. Digital gets a spurt with Natwest and RBS experts Every branch gets […]

Mogo’s New Prepaid Product Taps into Growing Canadian Market

Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada.

IBM in major IoT drive with new partners

IBM has unveiled a large ecosystem initiative as it opens the doors of its new $200 million global headquarters for its Watson Internet of Things (IoT) business in Munich, Germany. BNP Paribas, Capgemini and Tech Mahindra are some of the firms who will place development teams at the IBM centre. Harriet Green, general manager, IBM […]

CFPB Seeks Help in Tackling Thin-, No-File Challenge

In a Feb. 16 field hearing, the CFPB said it wants industry input on using alternative data to help thin- or no-file consumers build credit scores. It’s a challenge that many in the prepaid industry have been trying to solve for years to better serve cardholders who often are among the approximately 26 million U.S. consumers who don’t have a credit history and another 19 million consumers whose credit histories are insufficient to produce a credit score, according to CFPB estimates.

Top fintech stories this week – 10 February 2017

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Temenos cuts jobs in US; eyes D+H payments business EXCLUSIVE. US layoffs cited as around 60 by some sources. Ziraat Bank London to replace legacy core banking tech EXCLUSIVE. Misys Fusionbanking moves in. Banks and UN launch sustainable […]

CFPB Orders UniRush, Mastercard to Pay $13 Million over RushCard Outage

The CFPB is “putting the prepaid industry on notice that companies will face the consequences if consumers are denied access to their money or to the services they pay for and on which they have the right to depend.” In its first enforcement action against prepaid providers, the bureau on Feb. 1 announced that UniRush and Mastercard will pay a combined $13 million for a 2015 service disruption that left cardholders without access to their funds.

Mastercard victorious in UK interchange lawsuit

Mastercard can put a notch in the win column after a High Court judge ruled in the payment card network’s favor regarding a lawsuit brought on by retailers disputing cross-border interchange fees on debit and credit cards.

Mastercard Victorious in U.K. Interchange Lawsuit

Mastercard can put a notch in the win column after a High Court judge ruled in the payment card network’s favor regarding a lawsuit brought on by retailers disputing cross-border interchange fees on debit and credit cards.

Trend Watch 2017: Payments Year in Review

Paybefore’s first-ever payments year-in-review report, sponsored by The Bancorp, is available now. Offering an in-depth look at key trends and the Top 10 payments stories from 2016 that will continue to shape the industry in 2017 and beyond, this must-have resource examines everything influencing the industry from the CFPB and Uber to Brexit and Trump and much more.

Mastercard growing faster than Visa in Americas

Mastercard saw faster growth than Visa in the Americas in 2015 but, with 43%, Visa still has significantly the largest market share, according to research by Retail Banking Research (RBR). According to RBR’s Global Payment Cards Data and Forecasts to 2021 study, the number of Mastercard cards grew by 6% in the Americas in 2015, […]

Understanding the role of virtual card provider

Your organisation’s satisfaction with its virtual card provider is the single most important factor determining the return you will receive on your investment. So when you choose a supplier, set your expectations high.

Top fintech stories this week – 6 January 2017

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The first weekly news round-up of 2017. Happy 2017! Let it be a year of discovery and success.

Top ten blockchain stories in 2016

It felt like there was a blockchain story every day in 2016, but we look back at some of the bigger stories with Banking Technology’s top ten! Microsoft and AMIS launch Asia’s first blockchain consortium Microsoft says it is also in “collaboration” with banks such as Ubon Financial, Cathay Financial Holdings and MegaBank to further […]

Top ten fintech events in 2016

Look back at some of the major fintech events in 2016, with Banking Technology’s top ten! Sibos 2016: markets still in “Dante’s circles of hell” It’s the big one. And this is just one snippet from our extensive coverage of Sibos in Geneva. We also produced videos, published Daily News at Sibos, had fun with […]

US chip and PIN card roll-out – let’s shorten the time to process; where do I sign!

From a technology perspective, the family home has decided to rush headlong into the 21st century. When our home was built we thought we were being extremely progressive in having a Panasonic “4 lines, 10 extensions, PBX” installed with separate lines for my wife and myself and then a line for business and yes, one dedicated line for the fax machine. Cool… but fast forward a decade and a half and with the home up for sale, we were politely advised to take out all those handsets and close the door on the PBX.

Citi and FIS get pally with PayPal

Citi and FIS have formed separate agreements with PayPal for Citi cardmembers and FIS linking payment cards. For Citi, its customers will be able to use their Citi Cards with PayPal – online, in-app and in store – in 2017. Terms of the agreement are not being disclosed. With this agreement, Citi says it is […]

Monitise and MasterCard launch Finkit partner programme

UK-based payments vendor Monitise has launched its Finkit partner programme with founding partner MasterCard to speed up collaboration in banking and payments. For the “first time”, the founding partners – which also include BehavioSec, Currencycloud, Envestnet | Yodlee, Experian, Fastacash, FICO, HID, iGeolise, LivePerson, Mypinpad, Syniverse and WorldFirst – have agreed to make their capabilities […]

Debit and Prepaid Card Bases Set to Gain Market Share

The global prepaid card base will increase to 921 million in 2021, up 46 percent from 624 million as of Dec. 31, 2015, according to a new forecast from U.K.-based Retail Banking Research, or RBR. Despite the prepaid surge, debit will continue its dominance of the overall cards market. RBR’s “Global Payment Cards Data and Forecasts to 2021,” which does not cover closed-looped prepaid cards, found that debit cards in 2021 will account for 72 percent of all payment cards worldwide, up from 70 percent in 2015.

MasterCard unveils new blockchain

MasterCard has unveiled its own blockchain as it reacts to arch-rival Visa’s partnership with Chain and seeks to use the technology in payments and trade finance. Its version is currently at the testing stage and offers the usual things in this corner of the fintech world. These include smart contracts – scriptable transactions that automate […]

Misys in five-year Deutsche Bank deal

Misys has signed a five-year enterprise license agreement with Deutsche Bank giving it “unrestricted access” to deploy Misys FusionBanking Lending and Misys FusionCapital solutions across the business. Misys’ FusionBanking Lending offering includes the Loan IQ back office platform for syndicated lending and the front-end that originates from Custom Credit Systems (CCS), a US-based provider of […]

Top fintech stories this week – 28 October 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! HSBC Private Bank live with Avaloq Banking Suite EXCLUSIVE. It’s on in Switzerland and Luxembourg. European Association for Biometrics conference Eyes down for our event review. New challenger bank to launch in UK Hampshire Community Bank wants a […]

The changing co-branded credit card landscape

As retailers across the country need to bring innovative customisation and convenience factors to their customers, credit cards are becoming an essential part of delivering value. Co-branded cards continue to play an important role in the retail landscape and can offer a unique point of distinction for retailers in today’s competitive environment.

Payments round-up: 21 October 2016

Jargon defeated. Unnecessary words deleted. A brief payments round-up. LeFinance, a division of Beijing-based tech firm LeEco, has partnered with the Stellar Development Foundation for cross-border payments on the latter’s blockchain network. The deal means Stellar expands into China. LeFinance will also use Stellar’s network to monitor credits for usage across their various devices and […]

Interview: Kyle Ferguson, Fraedom’s CEO – on the road to Fraedom

Payments technology and expense management specialist Fraedom is on the journey to tap into the $110 trillion B2B market opportunity that remains untapped today. “If the technology is both powerful and intuitive, people will use it,” states Kyle Ferguson, Fraedom’s CEO.

Top fintech stories this week – 14 October 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! MasterCard to buy French payment firm Stet? EXCLUSIVE. Payments processor could be a target. Brooks Macdonald puts IT revamp with Third Financial on hold EXCLUSIVE. All freeze for wealth management firm. Banks behaving badly in Singapore Monetary Authority […]

MasterCard and SolarisBank partner for digital banking push

MasterCard and Berlin-based SolarisBank have teamed up to bolster their digital banking ambitions. SolarisBank has got principal membership status, and will now operate at MasterCard’s “highest issuer level”, with access to its entire product portfolio. Dr. Andreas Spengel, vice-president at MasterCard, says it is “excited by the outlook of working together with a young, visionary […]