MasterCard, Western Union, Bkash, a mobile financial service (MFS) provider, and BRAC Bank have launched a new, international remittance receiving service in Bangladesh. The service – via Western Union’s global network – enables Bkash’s registered customers to use their mobile phones to receive remittances from abroad directly into their accounts or collected from a Western […]
Wirecard is partnering with CIMB Bank Singapore to provide mobile point of sales (mPOS) card acceptance and banking solutions for clients of POS solution provider Eleos Web. Software till system manufacturer Eleos will use Munich-based Wirecard’s white label solution to “expand” till functionality to incorporate mobile card acceptance. Ong Whee Shiong, MD at Eleos, says […]
Amsterdam Trade Bank (ATB), a European subsidiary of Russia’s Alfa Group, is looking for a new core banking system, Banking Technology understands. The bank is a long-standing user of Misys’ software, including Equation for core processing, Trade Innovation (TI) for trade finance, and Opics for treasury and capital markets. In 2010, Misys announced ATB’s successful […]
Cardiff-based Principality Building Society is a step closer to selecting a new core processing system, Banking Technology understands. Principality’s current provider is Unisys Financial Services System (UFSS). It is understood that the building society has considered an upgrade of UFSS but decided against it. It is now evaluating offerings from a number of system suppliers. […]
Payment companies need to collaborate, not compete, when it comes to dealing with the threat of card fraud. At this morning’s (5 April) session, “Innovations in card not present fraud” at Money 20/20 in Copenhagen, a panel discussed the issue in a lively and quick chat. Present were moderator Andrew Jamieson, head of innovations, UL; […]
Nick Kerigan, managing director of future payments at Barclaycard, lends his expert view on the changing consumer payment landscape and maps the journey to contactless card payments and beyond. Kerigan leads the team that looks at payment and competitor intelligence, and is responsible for driving innovation across Barclaycard. Last year was a milestone in UK […]
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
The world has been talking about “mobile payments” for years, but the phrase means different things to different people. So what exactly are mobile payments? And how much more mobile than cash or cards can payments actually get, asks Philipp Nieland, co-founder and CTO of PPRO Group. Some people believe that mobile payments are those […]
Google is bringing Android Pay to the UK market – with Bank of Scotland, First Direct, Halifax, HSBC, Lloyds Bank, M&S Bank, MBNA and Nationwide Building Society the first to support it. This latest move follows Android Pay’s launch in the US in September 2015, and it should be available in the UK “in the […]
BPC Banking Technologies says New Zealand’s largest retail chain – Warehouse Group – has chosen the SmartVista payments suite for its financial services business. The initiative is called “Warehouse Money” and offers the retailer’s consumers the chance to save 5% on purchases via a new Visa card or earn “purple dollars” via the Purple card. […]
Chase Bank Kenya has migrated its full card portfolio to the Way4 payment software platform from Electra Card System. The solution is developed by Belgium-based OpenWay and Way4 will support the issuance of prepaid, debit and credit cards — under the MasterCard and Visa brands. Chase Bank Kenya is looking to grow its cards business […]
A UK-based challenger bank, Mondo, has partnered with Thames Card Technology for debit card production and personalisation. Beta test cards will be issued to consumers this year. Mondo, which positions itself as a “mobile first” bank, will be offering a contactless debit card paired with a mobile banking app to its customers. The mobile app’s […]
A long-standing user of a host of Misys’ products, The United Bank of Egypt has committed to upgrade to the latest version of software. The project is penned for completion later this year. The bank will upgrade to FusionBanking Equation (core system), FusionBanking Trade Innovation (trade finance) and FusionCapital Opics (treasury and capital markets). It […]
Texas-based asset administrator, Virtus Partners, has gone live with new back office lending system, FusionBanking LoanIQ, supplied by Misys. The new platform supports full-service agency administration and bank portfolio loan administration. It covers SME, commercial and syndicated lending. The contract was signed in November last year. The implementation work took around three months and came […]
MasterCard’s planned acquisition of VocaLink has the potential to create a new payments powerhouse in Europe and beyond. Tom Hay, head of payments, Icon Solutions, explores the possibilities. The news of the planned acquisition broke a few days after the Payment Systems Regulator’s (PSR) recommendation that banks divest their ownership of the company. I’m sure […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! MasterCard mulls VocaLink acquisition There are some things money can buy. US to move to shorter T+2 settlement cycle by September 2017 Make a note, industry target has been unveiled. Big US banks to fight for instant payments […]
NFC mobile payments continue to grab headlines, but to really drive uptake and ensure full market coverage, combining contactless cards with next-gen mobile banking apps is surely the right way to go for 2016’s challenger banks, says Paul Underwood, MD of Thames Card Technology. Much has already been said about the opportunity for challenger banks to […]
UK payments provider Tuxedo has launched a “live load” payments technology platform, which removes the need to prepay. The vendor says it is the world’s first. The platform is based upon a single, partner-issued Visa or MasterCard, which is linked to customers’ existing payment sources via Tuxedo’s own platform. The platform is PCIDSS (Payment Card […]
MasterCard could be buying the UK’s payments infrastructure, VocaLink, in a £1-billion acquisition, according to Sky News. Following the Payment Systems Regulator (PSR) telling banks last month that they should sell their stake in VocaLink to “help increase innovation and competition”, MasterCard is reportedly in talk with those banks. According to David Bannister, financial services […]
AnaCap Financial Partners, a private equity firm based in the UK, has acquired non-performing loans (NPLs) of Royal Bank of Scotland (RBS) and GE Capital Real Estate in Italy. It is also understood to be crystallising a strategy to launch a new digital bank in the UK. The acquisitive PE firm has gained over €2 […]
Vietnam-based Techcombank has gone live with Misys’ FusionCapital software. The new platform – based on Misys’ FusionCapital Kondor product – supports treasury and capital markets (TCM) operations at the bank. The deal was inked in November 2014. Techcombank opted to work with Misys as it has offered “a configurable, fast and cost-effective analytics platform”, explains […]
British Arab Commercial Bank (BACB) is looking to modernise its core software. It is believed the bank has settled for a new platform – Temenos’ T24. BACB is a London-based wholesale bank that specialises in trade finance and treasury services to Africa and the Middle East. The bank has been in the system selection mode […]
Payment firms i2c and TIS have formed a strategic partnership to standardise prepaid payment solutions on the i2c processing platform. Under terms of the multi-year partnership, Japan-based TIS will adopt i2c’s cloud-based platform as its standard for prepaid card processing and expand its use to support credit and debit card payment processing in “key Asian […]
MasterCard has unveiled its MasterCard IQ series that uses real-time intelligence to tackle fraud and the increasing number of false declines. The plan is for cardholders and merchants to see a reduced number of transactions unnecessarily declined, while maintaining the “highest levels” of security. Javelin Strategy & Research estimates that one out of every six […]
London-based start-up Curve has launched a physical payment card that can combine an unlimited number of bank cards into one place, and has Apple Pay in its sights. The Curve card is built on the MasterCard network, but with a nod to the non-physical it is supported by a mobile app. Shachar Bialick, CEO and […]
Visa is introducing a new service to help Visa issuers empower consumers to monitor and control how, where, and when their Visa credit, debit, and prepaid accounts can be used. It provides real-time visibility and control over their accounts so consumers can take immediate action to protect themselves from security threats and fraud. Visa Consumer […]
Trade Bank of Iraq (TBI) is working with core banking technology provider Misys to upgrade to develop a digital platform. Misys reports it has previously run two major projects with TBI in 2003 and 2009. The bank, claims to have introduced the market’s first ATM solutions and Visa and Mastercard offerings and is set to […]
Visa Developer, will offer software application developers will open access to Visa’a payments technology, products and services. The new Visa Developer platform is designed to help financial institutions, merchants, and technology companies meet the demands of consumers and merchants, who increasingly rely on connected devices to shop, pay and get paid. At launch, the new […]
Financial software provider Misys has appointed Rob Binns as its chief financial officer. Binns joins Misys from HP where he was head of treasury and investor relations. He joined Hewlett-Packard in 2007 from Mercury Interactive and has held a number of senior finance positions in the company including VP Software Field Operations and VP Investor […]
Emprise Bank, based in Kansas in the US, has selected FIS as its new core banking provider. The bank, which has $1 billion in assets and 37 branches, selected FIS on the basis of its need for high levels of support, and capacity to provide a single platform that would integrate a set of technologies. That in turn allowed […]
As the issuance of EMV cards continues to grow, consumers are using their chip cards to buy sporting goods and pay for parking, according to new data from CardFlight.
Cashless payments are growing around the world as more people have access to bank accounts, but only at a slightly faster rate than ATM withdrawals, indicating that cash still has a strong hold.
The UK’s Payment Systems Regulator has published draft guidance on its plans for regulating new European payment card legislations that comes into force next week.
Retail banks often claim that customer service is their primary focus, but 75% of banks believe they haven’t concentrated efforts on improving it. Instead, annual reports focus on the financial results. Whether these two stories can become one remains to be seen, according to a new whitepaper by bank technology vendor Misys.
Mastercard and Cardlytics have formed a new partnership that will streamline the process for banks implementing Cardlytics’ card-linked marketing offers, and ensure that consumers can access offers online and via mobile devices.
Figures from Link, the UK’s cash machine network, show that the number of ATMs in the UK reached 70,180 in July, passing 70,000 for the first time. ATM figures from July, show that the total amount withdrawn from cash machines in July 2015 was £11.3 billion, up 4% compared with July 2014.
More than £2.5 billion was spent in the UK using contactless cards in the first half of 2015 and this is likely to increase even more as the upper limit for contactless payments increases from £20 to £30 from today.
Digitally enabled supplier finance networks and alternative lenders now pose a significant threat to every part of the commercial lending business, with 84% of banks seeing pressure on the pricing of loan products as a challenge.
Samsung is set to launch its upcoming payments service Samsung Pay in Europe within months, following a deal with MasterCard which will see Samsung Pay rolled out across the region through MasterCard’s Digital Enablement Service.
Commerzbank has extended its existing credit card processing contract with Worldline for a further seven years. Since 1998 Wordline has provided the bank with an end-to-end processing service that includes complete processing of all the bank’s issued Visa and MasterCard cards.
