App Economy Dodges Bullet with Uber Court Victory
It’s a rare ray of sunshine for the embattled Uber, as it won a key fight in the U.S. Second Court of Appeals, which ruled its terms and conditions (Ts & Cs) are legally binding
Mobile
Q&A with Mobey Forum’s ED Maikki Frisk
Six months after coming on board to lead the digital financial services trade association, Maikki Frisk talks about how to drive mobile payments adoption, the implications of Brexit and PSD2, and the ultimate importance of a good user experience.
Fiserv Buys Dovetail for Real-Time Payments Push
Fiserv has acquired payments software vendor Dovetail as it pushes deeper into the payments infrastructure sector and real-time payments. Financial terms were not disclosed.
Is Your Wallet Ready for 2020?
It’s safe to say mobile is just getting started as a payments form factor, but don’t chuck your plastic cards just yet. Personalization, including QR codes, can boost usage and help you stay top of wallet.
Mobile Contactless Hits £370 Million in U.K. in H1 2017
Mobile contactless transactions in the U.K. topped £370 million (US$476 million) in the first six months of 2017, a whopping 336 percent year-on-year increase, according to the latest transaction data from payments processor Worldpay. (Infographic included.)
Top 5 Best Challenger Banks: Revolut
Last month, we asked Paybefore.com visitors to vote for the Best Challenger Banks—the ones shaking up the status quo with a legit chance to become consumers’ preferred accounts, not just a stepping stone to the big banks. For the next few weeks, we’ll be sharing our spotlight articles on these challengers. First up is Revolut.
KeyBank invests in Billtrust, launches accounts receivable platform
KeyBank is putting its money where its mouth is. The bank isn’t just partnering with fintech companies, it’s also investing.
Top fintech stories this week – 18 August 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Physical containers – reused in novel ways. Does that include nextgen branch offices?
With standards as simple as what we see with shipping containers, creative folks will begin considering options for almost anything that can benefit from these containers being mobile. The user experience that today we enjoy with mobile devices has changed the very heart of today’s data centre even as we see on-premise IT moving to clouds. Couldn’t a case be made that such flexibility be embraced even more aggressively in the future and couldn’t that change the very way we view banking as it continues to transform?
CIBC goes it alone with new Simplii Financial banking brand
Canada’s banking group CIBC has unveiled Simplii Financial, its new direct banking brand, signalling the end of its President’s Choice (PC) Financial consumer banking business with retailer Loblaw. Mike Boluch, EVP, direct banking, innovation and payments, CIBC, says Simplii will deliver “straightforward, no-fee everyday banking” and offer services by telephone, online, or through mobile and […]
Mobile banking service Lunar Way fearless for feeless travel
Denmark-based mobile banking service Lunar Way has launched its travel card – and the chance to experience the world without fees. Its newest feature, called the Lunar Way Travel Card, is its attempt to stand out in a world of roaming charges. Lunar Way says: “One area where the consumer has always been stung is […]
P2P Payments Push Forward
In the P2P showdown, who will be left standing? See how early entrants like Venmo and Square Cash stack up against Zelle and Apple.
Samsung to power biometric authentication pilot for Bank of America
Samsung will launch a pilot programme that enables Bank of America (BofA) customers to log into their mobile banking app by taking a picture of their eye, reports Finovate (Banking Technology‘s sister company). According to a report from American Banker’s Penny Crosman, half of BofA’s customers are using fingerprint authentication to log into their app, […]
Singtel Rolls out First Virtual Visa Card in Singapore with Wirecard
The most popular digital wallet in Singapore has rolled out the first virtual Visa card in the country thanks to a partnership between global technology group and 2017 Pay Awards Change Agent of the Year Wirecard and Singtel.
White paper: digital trust is transforming online and mobile banking
Banks are beginning to re-align their internal processes and external-facing products to take advantage of, and more fully realize, the potential of digital transformation. One of the biggest challenges they come up against in this pursuit is how to balance customer experience and security. In other words, implementing a framework that accounts for all the […]
SWIFT Partners with TCH to Drive Instant Payments in the U.S.
Hot on the heels of the Fed’s Faster Payments Task Force final report and call for the industry to implement faster payments in the U.S. by 2020, SWIFT is offering a gateway.
Alipay Taps Yelp to Enrich Chinese Travel Experience
Alipay has inked a slew of partnerships lately. The latest deal for the Chinese app is with Yelp and connects local businesses with Chinese travelers, a move that’s likely to boost loyalty and transaction volume in one fell swoop.
Is Prosper prospering?
Peer-to-peer (P2P) lender Prosper released its second quarter earnings recently, just days after the company shuttered its consumer-facing bill management system.
Paytm and Amazon in payments projects in India
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.
The app economy is real, because our time is just too important
Many famous faces have decorated our notes over the years, but just like the cheque, cold, hard cash is living on borrowed time.
Is this the end of fintech as we know it?
In the age of the internet, fintech dominates finance. In the UK, the sector is currently worth £7 billion, employing around 60,000 people with figures set to increase. The industry is definitely awe-inspiring, but as the lines between traditional banking services and fintech blur, fintech could disappear entirely.
Where top US banks are investing in fintech – CB Insights
Since 2012, the top ten US banks (by assets under management) have participated in 72 rounds totaling $3.6 billion to 56 fintech companies, according to CB Insights. While investment activity dropped on a quarterly basis in Q1 2017, four of the last five quarters have seen over $1 billion invested into fintech start-ups in the US backed by venture capital firms.
Digiliti Money Delays Earnings Report, Weighs Sale, Chapter 11
Instead of reporting its second-quarter earnings today, Digiliti Money Inc. plans to file for an extension with the SEC after its accounting firm flagged problems with its previous financial reports, the company announced Aug. 14.
Skye Bank revamps omnichannel banking with Oracle FSS
Nigeria-based Skye Bank has launched a new digital banking platform, SkyeXperience, built on the Oracle FSS tech. The bank plans to enrol over two million clients on the new solution by the end of next year.
Geoswift, UnionPay and Western Union Vie for Chinese International Tuition Payments with Amazon Promotion
As students gear up for back to school, the competition for international tuition payments continues to heat up. Geoswift, UnionPay International and Western Union Business Solutions are offering Amazon gift cards to Chinese students studying in 14 countries that use their service for cross-border tuition payments.
The Monday mindset: 14 August 2017
Fintech zeitgeist! This week, Banking Technology’s editor Tanya Andreasyan muses about the growing trend of celebrity endorsement in the fintech world.
£3.6m emergency cash injection pumped into Tandem
UK-based challenger bank Tandem received an emergency cash injection of £3.6 million from its existing investors earlier this year when a major funding deal with House of Fraser collapsed.
Interview: Matteo Cassina, Saxo Bank – is digital banking the new Big Brother?
Amid the hustle and bustle of MoneyConf in Madrid, Banking Technology managed to grab a coffee with Matteo Cassina, global head of sales at Saxo Bank. Conversation turned from the demise of bank branches to the rise artificial intelligence (AI) and open banking.
Barclaycard pilots Alipay payments in eight retail stores across UK
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.
WhatsApp to introduce payments feature
Facebook-owned messenger app WhatsApp submitted a new update through the Google Play Beta Programme, which will make payments available in the app’s new version.
New state-controlled clearing house to process all payment providers’ transactions in China
Ant Financial, Tencent and 42 other payments and financial services firms in China have agreed to route their payments transactions through a new clearing house, controlled by Chinese government.
Lowe’s rolls out FIS BizNow prepaid solution for SMEs
Home improvement chain Lowe’s has a new payments tool in its toolbox to help small businesses, contractors and construction professionals—a prepaid card and companion mobile app to manage business expenses.
Public Service Credit Union completes Malauzai digital banking tech roll-out
Colorado-based Public Service Credit Union (PSCU), the state’s third largest credit union with more than $2.3 billion in assets, 28 branches and 219,00 members, has completed the roll-out of its new digital banking platform – powered by Malauzai Software.
Mambu’s core banking tech to support lending business of Globe Telecom
Banking software developer Mambu has inked a large deal with Fuse, the lending arm of Filipino financial technology firm Mynt. Mynt itself is a subsidiary of Globe Telecom, a Philippines-based telco.
Green Dot reports net income jump in Q2, touts fintech deals, acquires secured credit portfolio
Green Dot Corp. reported strong numbers for the quarter ended June 30, 2017, including a 140 percent increase in GAAP net income to $19.3 million, up from $8.0 million over Q2 2016.
Blackhawk Network Takes Lotto Tickets Mobile
The chance to win big is going mobile. Using live ticket technology from Linq3, Blackhawk Network will give grocery shoppers the ability to purchase mobile-enabled tickets for big jackpot games, such as Powerball and Mega Millions, in the checkout line.
Oracle Unveils New Global Payments Solution for Banks
Oracle has unveiled its brand new development, Oracle Banking Payments. Built from the ground up, the service uses the ISO 20022 messaging standard and supports global and local payment standards, including SEPA, Swift 2017, Fedwire, U.S. ACH and Swift’s gpi.
Wirecard, Gambio Launch GambioPay for E-Merchants
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.
Bread Raises Serious Dough for E-Commerce Installment Payments
Bread, a fintech startup that builds installment payment solutions for online merchants, has completed $126 million of equity and debt financing to expand its portfolio and bolster its engineering team.
Banking Technology Awards: how to write a winning entry?
With less than one month left to nominate for the Banking Technology Awards, now is the time to polish up on your entry. The question we get asked often is how to write a winning entry. Well wonder no more, we have a few tips for you on what to include. The more detail the better! Dates […]
