Money transfer firms WorldRemit and Xpress Money have partnered to unveil a remittance service to Pakistan. Through Xpress Money’s agent partner network, WorldRemit customers will be able to make instant money transfers to be collected at over 9,500 cash pick-up locations all over the country – including major banks, Al Habib Bank, Bank Alfalah, Bank […]
UK challenger bank Starling talks about finding its niche and how it intends to prosper in an increasingly competitive space – all in preparation for its 2017 launch.
Mastercard and Visa have joined forces in a bid to help fast-track the adoption of tokenization for mobile and online payments—and, eventually, payments via connected devices within the Internet of Things (IoT). A new partnership between the rival networks enables tokenized Mastercard payment credentials to be provisioned into Visa Checkout, and, in turn, tokenized Visa credentials to be provisioned into Masterpass.
A plethora of mobile wallets and payment apps are expected to flood the market in the next two years, and the sheer number of choices are likely to “confuse” many consumers, who ultimately might look to their financial institutions to be their mobile wallet provider, according to a recent report by Javelin Strategy & Research.
You can design your Website to be mobile-friendly, engage the right search engine optimization (SEO) strategy to attract eyeballs and create compelling content to engage consumers. But if your checkout process has inefficiencies, you could lose sales from customers who abandon their shopping carts—an outcome that is more common than one may think, and for reasons that could easily be avoidable.
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 […]
After reaching deals earlier this year with Mastercard and Visa to stop steering users away from paying with cards in favor of ACH, PayPal Inc. has struck pacts with Citi and FIS that will enable U.S. consumers to pay with bank-issued cards and accounts within the PayPal app for in-store and mobile purchases.
The expanded capability enables U.S. consumers and small businesses with OPEN cards, to add American Express card and billing information to their Facebook accounts. Once the information is added, cardholders can make in-game purchases and shop on business’ Facebook pages.
A recent study from VocaLink polled more than 5,000 U.S. consumers ages 18 to 35 on their payments behavior and preferences. And while the survey found that cash has lost ground to cards for most types of payments, it’s stubbornly clinging to the No. 1 spot when it comes to P2P.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Financial services technology provider Fiserv Inc. has reached a definitive agreement to acquire Online Banking Solutions Inc. (OBS), in a deal Fiserv said will bolster its cash management and digital business banking capabilities—and continues the firm’s recent focus on driving customer engagement via notifications.
South Africa’s Standard Bank has acquired a majority stake in Firepay, the maker of mobile payments service SnapScan, which is used to make in-store and online payments at more than 32,000 merchants across South Africa.
Who is investing in what? Our latest fintech funding round-up, mercifully brief as usual. Featuring ApplePie Capital and Firepay.
Some of the biggest players in the mobile payments space have announced deals that could bring digital payments and gifting to more consumers around the globe. Starbucks will provide “social gifting” and payments to users of China’s WeChat messaging service, while Square will integrate its digital debit cards with Apple Pay, two recent developments that could boost the popularity of mobile payments.
With so much fintech funding activity going on, we’ve summarised the latest fundraising efforts of start-ups. Featuring Lunar Way, FXCH and Polychain Capital.
Fintech start-up Bankjoy has secured two clients for its online and mobile banking software, Georgia Heritage Federal Credit Union and Wepawaug-Flagg Federal Credit Union.
Don’t rage against the machine, just embrace its potential and look at the real world applications. The world of machine learning (ML) came under the spotlight on day two of Mobey Day in the great city of Toronto. At yesterday’s (8 December) sessions at the Four Seasons Hotel, about 300 delegates enjoyed panels and presentations […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Teamwork triumphs in Toronto. The theme of collaboration between start-ups and the big players dominated day one of Mobey Day. While some in the fintech industry say they’re disruptive, it seems that’s no longer true as they all look to work together. At yesterday’s (7 December) sessions at the elegant Four Seasons Hotel in Toronto, […]
Ontario in Canada is calling for more venture capital to come to the region as it looks to boost its fintech industry. This is the main message from a tour of Toronto, given to the international media by the Ministry of Economic Development and Growth (MEDG).
Amazon’s vision of the future, which it’s testing in Seattle, is a grocery store that enables customers to complete purchases via scanning mobile phones instead of waiting to pay.
Most of the talk around Samsung Pay’s new points-based loyalty program has been about whether it can spur mobile wallet adoption. But the in-app delivery of a virtual prepaid rewards card could mark a substantial shift for the incentives business, according to Brad Garfield, global product head for Citi’s corporate and public sector prepaid cards.
Germany-based mobile bank N26 is taking its business fully across 17 European countries, including Spain, Italy, Greece, Ireland and Slovakia. Until now, some of these locations were in the “soft launch” phase.
Fraud prevention is driving payments acquisition activity, with two major moves by the networks in the last two weeks. American Express has acquired InAuth Inc., a provider of mobile device authentication and intelligence solutions, which follows Visa’s announcement of its plans to acquire e-commerce authentication specialist CardinalCommerce, which operates the largest authentication network in the world, according to the company.
Western Union continues to expand its presence in the mobile vertical with an investment in Walletron Inc., a provider of mobile wallet bill presentment and payments services. The investment follows a deal struck between the companies earlier this year, under which Western Union’s Speedpay electronic bill payment service began offering biller clients the option to incorporate Walletron’s moBills platform.
PayPal and Google’s Android Pay are making the holidays more festive with new promotions, but will they lead to more consumer usage? PayPal says it’s making its P2P payment service “more personal and heartfelt,” while Android Pay is offering U.K. users a free gift when they use the mobile wallet for purchases.
Whether it’s digital coupons, next-generation mobile apps or using augmented reality technology to enhance shopping, have no doubt: That future is here and it’s all about engagement. Paybefore sat down with Amy Parsons, vice president and head of global commerce, Discover Global Network, to get her take on what’s ahead.
Alipay, one of the world’s largest online and mobile payment platforms, has inked deals with BNP Paribas, Barclays, UniCredit, and SIX Payment Services to drive the European expansion.
Blackhawk Network said Dec. 5 that it will “integrate gift cards, e-gifts, loyalty and rewards programs into Apple Pay,” a move that could make the mobile wallet more attractive to consumers.
Comtrade Digital Services has built an automated banking platform that enables users of online/mobile messaging platform Viber to perform a range of banking operations entirely through a chatbot.
The Bancorp is doubling down on its commitment to fintech, unveiling plans for a new dedicated fintech innovation and development studio. Dubbed Cube8, the division will serve as a space where Bancorp will “explore unconventional–even radical–ideas in financial technologies” with the goal of creating changes or new opportunities to bolster the company’s business strategies, operational efficiency and incremental revenue, Bancorp said.
Financial services providers that work with FIS will be able to ramp up their real-time payments capabilities quickly now that the company is integrating with Early Warning’s Zelle Network P2P service. Using FIS PayNet and the financial technology provider’s open payment framework, the P2P service will be offered as part of FIS’s other real-time payment services, such as digital e-gifting, bill payment and external transfers.
Bank Leumi’s new mobile banking subsidiary, Pepper, is working with digital authoring platform Playbuzz “to enhance user experience and engagement through personalised content”. Content created with Playbuzz’s suite of interactive formats, such as polls, quizzes and flip cards, will be embedded into Pepper’s banking app (to be launched in Q1 2017).
Australia and New Zealand-based banking group, ANZ, has launched its payments system for business customers, ANZ BladePay, alongside six point-of-sale (POS) vendors who are developing customised applications for the platform. Developed in partnership with payments tech company ThumbzUp, ANZ BladePay is a handheld Android-based payment device which is capable of integrating third party applications. ANZ […]
Treasury professionals are finally adopting mobile cash management, says Melissa Zajac, vice-president and senior product manager, Key Total Treasury, KeyBank’s corporate online channel. Slowly but steadily. So what are the best practices?
Cachet Financial Solutions has upgraded its Pay Award-winning Select Mobile Money prepaid mobile platform with enhancements that enable program managers to design and launch branded apps more quickly, as well as provide cardholders with a new international money transfer service.
Apple has scored a big win in Australia for the company’s mobile wallet. That country’s competition regulator has denied a request by big local banks to collectively negotiate over the introduction of Apple Pay there.
ING is pulling a plug on its peer-to-peer (P2P) mobile payments app, Twyp, in the Netherlands due to the lack of customer uptake. However, the app will continue to function in Spain.
Australian Competition and Consumer Commission (ACCC), the country’s antitrust regulator, is likely to deny four domestic banks permission to jointly bargain with Apple over Apple Pay.
We’ve summed up the latest funding efforts and results in the fintech space – so you don’t have to! Featuring Billon Group, Stripe, figo and Finimize.
