Payments round-up: 10 October 2017
Payment services are all the rage this week, here’s a rundown with this week’s round-up. Featuring Paynear, GoSwiff, BBVA, Omnia Pay and Huawei.
Payments
Q&A with Michael Parlotto, InComm
Michael Parlotto, VP, Emerging Technologies, InComm, gives the lowdown to Paybefore on the evolution of prepaid and what the future might hold for the industry.
Payments: I spy gpi
Much of the focus for correspondent bankers at this year’s Sibos will again be Swift’s global payments innovation (gpi) initiative. More than 110 transactions banks from Europe, Asia Pacific, Africa and the Americas have signed up to the initiative, which opened for live payments in January 2017.
Innovate Finance contest calls for fintech start-ups
Innovate Finance, a UK-based fintech membership association, is seeking start-ups for its latest Pitch360 competition. The contest is open to any start-up in the following sectors: Distributed ledger technology (DLT) Financial inclusion Cybersecurity Cross-border payments Peer-to-peer and alternative funding Regtech Personal finance management and robo-advice Artificial intelligence (AI) and machine learning Sandboxes The winner will […]
I know what I am doing!
Recent business surveys together with published industry trends suggest that ATMs aren’t going to disappear from the landscape quite yet even as the rate of bank branch closures will not take place as rapidly as could have been expected just a short time ago. What’s happening?
Infographic: how businesses submit invoices to customers
Everyone’s heard the proverbial drill that the cheque is invariably in the mail. But even as we head toward the end of 2017, it’s becoming clear just how true this statement is. In fact, many industries are still processing their customers’ payments using postal mail and paper cheques! This despite the array of accounts payable […]
Univision Mastercard Prepaid Card Hits Walmart Shelves
Univision Mastercard Prepaid Card is now available in approximately 300 Walmart stores in California, Texas and Florida. The move is part of the brand’s continued expansion into retail spaces in prominently Hispanic regions.
GPS goes for luxury payments with wearables for Armillion
Global Processing Services (GPS) has teamed with Armillion to incorporate contactless payment technology into its exclusive high-end bracelets.
NACHA Pushes on with API Payments Dream
NACHA, the backbone for the electronic movement of money and data in the U.S., and its Payments Innovation Alliance, have named the first five APIs for their big payments push.
CFPB finalises small-dollar lending rule
After five years and more than a million comments on its proposed rulemaking, the CFPB has finalised its payday lending rules with the ability-to-repay test intact for many loan types.
Google bids for AI leadership with new Pixel 2 smartphone
Internet giant Google’s big gadget unveil is all about positioning itself for the artificial intelligence (AI) era, not becoming an iPhone killer, reports Telecoms.com (Banking Technology’s sister publication). The flagship product is the Pixel 2 – a product so important for Google that it blew a billion bucks on beefing up its R&D team. As […]
Illinois Policy Could Make Life More Expensive for Citizens Who Struggle Financially
In trying to balance its budget, the Illinois legislature has taken aim at the wallets of the poor. Two changes by the state government will make it harder for low-income people to manage their financial lives by reducing the usefulness of prepaid cards and increasing the expense of cashing a check.
ADP Buys Global Cash Card
ADP has acquired Global Cash Card, a pioneer in payroll and contract employee payments. The deal gives ADP a proprietary payments processing platform that, it says, provides value-added services for existing clients and will speed time to market for new clients.
Interview: Vijay Oddiraju, Volante Technologies
In an exclusive interview with Vijay Oddiraju, co-founder and CEO of payments processing software provider Volante Technologies, speaks on the topics of agility, automation and how the ambitious company intends to prosper in the fast moving and competitive world of payments.
Takeaways (and Surprises) from 1,000 Fintech Startups
The Center for Financial Services Innovation recently released its 2017 FinLab Snapshot paper. And, if you think you know fintech, what we found may surprise you.
RGCA Expands Membership, Preps for Next-Gen Gift Cards
The Retail Gift Card Association kicked off its inaugural RGCA Forum in Kansas City, Mo., this week, tackling myriad subjects from gift card fraud to keeping consumers engaged with the No. 1 preferred holiday gift.
UK’s New Payment System Operator appoints board
Following the recent appointment of CEO Paul Horlock, the UK’s new payment system operator has named its first five board members.
Spafinder Improves Gifting Options ahead of Holidays
Spafinder, a marketing, gifting, incentives and rewards brand owned by Blackhawk Network, has unveiled new gift card technology, expanded distribution and additional partner services to make giving the gift of spa and beauty experiences easier for consumers and businesses.
Barclays US Tests Personal Finance Tool
Barclays US is dipping its toe into the financial health business, testing a personal financial management tool that aggregates all of a customer’s Barclays credit cards, personal loans and savings products—as well as accounts with other banks—in one place.
Starling Bank Expands with Business Accounts
The competition to serve the financial needs of small businesses is heating up in the U.K., where consumer banking challenger Starling Bank is expanding into the business market,
Snapsheet, KeyBank Launch Virtual Insurance Payouts
Snapsheet, a provider of virtual claims technology for the insurance marketplace, is partnering with KeyBank, a top 30 U.S. bank by assets, to launch an electronic payment solution for insurance claims.
What does the new iPhone X mean for mobile banking?
Mobile banking is nothing without mobiles, and as Apple leads the way in innovation it provides opportunities for banks to do things differently too. So, with the launch of the iPhone X, what is next for mobile banking in a world that can’t get enough of phone upgrades?
A blockchain smartphone – the future of devices or a buzzword parasite?
Sirin Labs is a recognisable name if you know where to look. Last year, it brought you a £11,400 smartphone with “military grade” security, and now it wants to bring you a blockchain smartphone called Finney.
Wirecard Gives boon a Boost with Virtual Prepaid, P2P and Overdrafts
Pay Award-winning payments technology company Wirecard is expanding its mobile payment app boon with new features to make it an “all-embracing app in everyday life.”
As Fintech Ramps Up, Europe’s Banking Regulator Is On the Move
The EBA has to move out of London because of Brexit. With an influx of tech, startups and financial services providers, Ireland is making a case for Dublin.
Mastercard Wants to Help Issuers Fight Card Fraud Faster after Data Breaches
On the heels of Equifax’s massive data breach that compromised 143 million identities, Mastercard today (Oct. 2) announced the launch of Early Detection System, which alerts banks to high-risk cards and accounts that are exposed in security incidents or data breaches.
Timex and Barclaycard collaborate to create contactless payment watch
Timex and Barclaycard have partnered in true style to produce a new range of contactless payment watches. The Fairfield Contactless promises to be a perfect fusion of style and smart functionality. Coming in at a retail price of £159, it’s all about the leather bPay embedded strap, which brings wearable technology to the wrist. bPay […]
Chime Pulls in $18 Million, Surpasses 500,000 Bank Accounts
Chime, a mobile banking challenger co-founded by Green Dot and Visa veteran Chris Britt, has raised $18 million in Series B financing, led by global venture fund Cathay Innovation.
Whole Foods Market Reports Breach
On Sept. 28, Whole Foods Market announced it had recently received information regarding unauthorized access of payment card data used at certain venues such as taprooms and table-service restaurants located within some of its stores.
Top fintech stories this week – 29 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
CFPB Financial Well-Being Report Underscores Industry Opportunity
More than 40 percent of U.S. adults struggle to make ends meet, according to new data from the CFPB. While not great news on its own, the findings could help financial services providers design products directed at improving financial well-being.
CPI Names Scott Scheirman CEO
CPI Card Group, a provider of financial card production and related services, announced the appointment of Scott Scheirman as president and CEO, effective Oct. 5, 2017. He succeeds Steve Montross, who is retiring from the company.
Pindrop Releases ‘Next-Gen’ Phoneprinting with Machine-Learning Might
Pindrop, an Atlanta-based voice security and authentication firm, says its latest technology release is improving clarity and accuracy and increasing fraud detection by 20 percent.
Saxo Payments Banking Circle Backs Project International Trade
Saxo Payments Banking Circle, has become the benefactor of an Emerging Payments Association (EPA) project to support the growth of early stage fintech companies around the world.
Alexa Is Making ‘Her’ Presence Known
While Google is doing its impression of a petulant child, storming home from the park with its football tucked under its arm by barring Amazon Echo Show access to YouTube, Amazon has drafted a host of reinforcements for its Alexa offensive.
Rodney C. Adkins Joins PayPal’s Board of Directors
PayPal has welcomed Rodney C. Adkins to its board of directors. Adkins is president of 3RAM Group LLC, a privately held company specializing in capital investments, business consulting services and property management.
Payment Trends: BAI Beacon 2017 Preview
Cut through the noise and examine the payment trends most likely to affect your bottom line.
Wirecard Continues Alipay Push with Merchant Deals
Wirecard has announced two partnerships this week to expand Alipay acceptance in Europe, one with Schustermann & Borenstein and another with Swarovski Crystal Worlds.
Hawk Incentives Launches Mastercard Prepaid Incentive Card for Mobile Wallets
Hawk Incentives, a Blackhawk Network business that provides rewards and incentive solutions, has unveiled a new open-loop Mastercard prepaid card that can be added to major mobile wallets.
SunTec Xelerates its open banking ambitions
SunTec has unveiled its out-of-the-box open banking solution, offering preset configurations and definitions, through its Xelerate billing system. With the rise of open banking, SunTec wants to join the throng looking to prosper in a very competitive and crowded market. The firm says banks can use the layer to get business value from their APIs […]
