The battle for e-commerce and payments domination is on in India. Paytm, an e-payment/e-commerce brand and payments bank, is bringing the QR code scanning habit to the Indian masses, while rival Flipkart has raised $2.5 billion from Japan’s SoftBank and Amazon has launched its digital wallet.
Paytm, e-payment/e-commerce brand and payments bank, is bringing the QR code scanning habit to the Indian masses, while Amazon Pay has launched a digital wallet.
Many famous faces have decorated our notes over the years, but just like the cheque, cold, hard cash is living on borrowed time.
PayPal has set up two innovation labs in India – based out of the company’s tech centres in Chennai and Bangalore – to help the country’s fintech start-ups grow.
Business-to-business (B2B) payment solutions company Trustly has partnered with e-commerce payment provider Qliro.
EXCLUSIVE: Barclaycard is launching a pilot that enables merchants in the UK to accept in-store Alipay transactions. The pilot will commence on 14 August 2017 in eight retail stores across the UK, with Barclaycard providing the POS solution for payments via Alipay.
Russia’s tech heavyweight Yandex and the country’s largest bank, Sberbank, are planning a joint venture to “boost e-commerce development”. The new venture will be based on the Yandex.Market platform.
Wirecard is expanding its collaboration with shop system developer Gambio to launch GambioPay, which the companies say simplifies payments processing and cuts costs for online retailers.
Payworks, a Germany-based provider of point-of-sale (POS) payment infrastructure, has inked a deal with Alipay. Payworks’ gateway tech will be supporting the integration of Alipay for payment providers across Europe.
Chinese online and mobile payment platform Alipay is looking to grow its presence significantly in Russia with the help of VTB Group.
11:FS Fintech Insider podcast featuring FinTech Futures’ Tanya Andreasyan.
Klarna has unveiled Wavy, a new, free P2P payments service. Available in iOS and Android as well as online, the free app enables users in more than 30 European markets to transfer euros between friends and family.
Prepaid pioneer paysafecard, part of Paysafe Group plc, announced its entrance into the United Arab Emirates. With its flagship prepaid solution, paysafecard will enable consumers to pay cash at vending machines and in retail stores for a prepaid PIN they can use to shop online.
Several major payments companies have released Q2 earnings, including The Bancorp, Discover, Mastercard and PayPal. Overall, payments volume is on the rise and partnerships are proving particularly important for PayPal, which has been on tear with recent strategic announcements.
Paytech firm Viva Payments is bringing Alipay to Greece. A strategic partnership between the two companies will see Alipay users “access the service for the first time” while visiting the country.
NCR Corp. on July 24 announced partnerships with Grubhub and DoorDash that it says will improve payments, order-ahead and delivery services for restaurants.
In payments, the big guys just keep getting bigger and more diversified. Ingenico Group on July 20 announced its €1.5 billion (US$1.74 billion) purchase of Sweden-based payments company Bambora from Nordic Capital.
The partnerships keep coming for PayPal. Following recent news that the company is partnering with Apple for payments on iTunes and in the App Store, the company announced July 17 that it’s expanding its partnership with Samsung to enable PayPal as a payment method in any channel Samsung Pay is accepted.
French payments technology provider Worldline is expanding its global footprint with a definitive agreement to acquire 100 percent of the share capital of Stockholm-based Digital River World Payments, an online global payment service provider from Digital River Inc.
One small step for consumer choice in e-commerce, one giant leap in PayPal’s quest for ubiquity. The company announced a partnership with Apple to enable shoppers to pay for their purchases in the App Store, iTunes, Apple Music and iBooks using PayPal.
Hello all and apologies it’s taken a little while to get to the third instalment of the series about “pet peeve statements”. For those who are new, I am talking about those bold, declaratory statements that puff up the chest and make people feel awfully progressive and far sighted – and as I have said before, all sound and fury, signifying stormy waters ahead!
Nelson Holzner, newly appointed CEO of AEVI, talks to Banking Technology about the importance of innovation and simplification, and addressing real-life problems with working solutions. “Do more” is AEVI’s motto.
After launching in 2016 in Singapore, Australia and Mexico, Citi Pay has arrived in the U.S. and is enabling tokenized payments via existing online credentials.
Processors Planet Payment Inc. and ACI Worldwide are working together to bring UnionPay International’s SecurePlus solution to merchants eager to accept the Chinese issuer’s debit and credit cards with less customer friction and more currency options.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
BBVA has signed an agreement with Chinese tech giant Ant Financial to enable Chinese tourists to pay in Spanish stores using the Alipay mobile wallet. BBVA is the first Spanish financial institution to be working with Alipay.
A group of seven large European banks, Digital Trade Chain Consortium, have turned to IBM to build and host a new trade finance platform, based on IBM Blockchain powered by Hyperledger Fabric.
More than $809 billion is set to switch to the fledgling instant payments system in Europe by 2027, representing a significant threat to cards, according to a new report from Ovum, a London-based consultancy. Instant, or real-time, payments enable account-to-account bank transfers in seconds instead of days.
Global payments provider TSYS announced June 12 it has launched TSYS Foresight Score with Featurespace, a fraud-prevention and risk-scoring product that integrates artificial intelligence, enabling the software to learn and improve its ability to detect fraudulent behavior while reducing false positives, the company says.
All payment providers and merchants grasp the dynamic nature of fraud. But fraud prevention requires more than the latest software and security protections—it requires active collaboration. Here’s why.
Visa is beefing up its Verified by Visa authentication service. The payments network said it’s upgrading its back-end to support 3-D Secure 2.0. The 3-D Secure messaging protocol was invented by the network more than 15 years ago and has become an industry standard for online authentication.
State Bank of India (SBI) has deployed the “largest payment gateway for cards’ e-commerce transactions”, according to Shiv Kumar Bhasin, CTO of the SBI group. It processes ten million transactions per day, with 2,000 transactions per second (TPS) of peak load processing capabilities. This “beats the business volumes processing capabilities of a lot of leading […]
The Alipay online payment platform operated by Ant Financial Services Group is moving further into North America through an agreement with payments technology provider First Data. Alipay is considered the world’s largest online and mobile payment platform, with more than 450 million global active users.
First Data has been appointed by Sabis, the IT arm of Spanish banking group Sabadell, to provide processing and acquiring services across its subsidiary TSB. First Data will migrate TSB’s credit and debit card portfolio onto its FirstVision platform. Additionally, First Data will power TSB’s digital payments and provide merchant acquiring services for money and […]
US-based Silicon Valley Bank (SVB) and First Data are calling on US start-ups to apply for their latest Commerce.Innovated accelerator programme. The four-month virtual programme provides participants with operational mentorship from the pair’s respective networks. Reetika Grewal, head of SVB’s payments strategy and solutions group, says its “small class size allows us to work closely […]
Mastercard has welcomed five new start-ups to its Start Path Global programme – its initiative to boost its share of the commerce market. The programme is open to all start-ups who focus on banking and payments and have raised a “significant seed” or Series A round of investment. Three out of the five firms joining […]
The agreement between Alipay and UniCredit has now entered the operational stage. Technological infrastructure for this has been provided by SIA.
Mastercard is beefing up its transaction security and authentication capabilities in the age of connected devices, entering an agreement to acquire NuData Security, a Pay Award-winning provider of anti-fraud technology that uses session and biometric indicators to verify online transactions.
Supply chain finance firm Tradeshift has unveiled Ada – an artificial intelligence (AI) layer on its commerce platform. Ada will learn from user interactions, “improve business processes”, and offer contextual information. It is available to third-party developers and interacts with users platform-wide as a conversational interface. Christian Lanng, CEO and co-founder of Tradeshift, says Ada […]
Criminals have deepened their focus on U.S. online transactions since the country’s October 2015 EMV liability shift, with card-not-present fraud expected to hit $6.4 billion in 2018, according to a new report from the U.S. Payments Forum. The expected total would represent a 23 percent increase from fraud losses in 2017, and a 68 percent increase from 2016.
