Green Dot and Uber on Aug. 16 expanded the Instant Pay option that enables Uber drivers to quickly get their earnings via debit cards. The expansion builds upon the launch earlier this year of Instant Pay through Green Dot’s Pay Award-winning GoBank mobile checking account, via a special GoBank Uber debit card.
Apple Pay is getting its first multi-currency prepaid card, as the mobile payment service adds support for Mastercard’s Cash Passport card, issued by Raphaels Bank, the bank announced on Aug. 16.
China-based UnionPay on Aug. 16 introduced its QuickPass mobile wallet in Canada, the technology’s North American debut.
UK-based Yorkshire Bank and Clydesdale Bank – which together form CYBG – have introduced Apple Pay to its customers. The payments service is also available to its “B” customers. In May, CYBG unveiled a new digital banking platform, called B, as it gets ready to become a standalone challenger bank. Helen Page, chief marketing officer […]
UK-based challenger Mondo is looking for another £15-20 million in funding as it looks to launch as a “full bank”. Last week, Mondo got its banking licence from the Bank of England. However, Tom Blomfield, CEO at Mondo, say that “authorisation comes with restrictions”. It can only hold a maximum of £50,000 of deposits in […]
Chinese consumers could soon make legal payments in that country via their smartphones and QR codes, media reports indicate. Shoppers with such online services as Alipay and Tenpay already use the codes, but they exist “in a regulatory gray zone, banned by the government, yet still continue operating,” according Ecns.cn.
Today, most banks want to be digital leaders because that is where the customers are! This has brought in a change in the attitude of many traditional banks. Arun S. Padaki, a seasoned corporate banker, credit risk and business process management consultant, explores what it takes to become a digital leader and who is already ahead in […]
It’s probably not farfetched to say you’re time-stretched. To save time here’s a round-up of some events in the (Asian) world of payments. Payments firm Mozido has revealed that 14 banks within the Taiwan Mobile Payment Co (TWMP) consortium have adopted its HCE technology. The remaining 12 banks will launch later this year. Mozido says […]
As mobile app operators try to make lunch easier for workers by enabling them to reserve seats and place lunch orders before arriving at restaurants, questions are being raised about how efficiently those fledgling apps handle payments.
The company’s new CVS Pay offers payments, loyalty and prescription management within the CVS Pharmacy mobile app. The service currently is available in some CVS locations in select markets, including New York, New Jersey, Pennsylvania and Delaware, with a nationwide rollout expected to begin later this year, CVS said.
In 2016, mobile payment sales are projected to reach $27 billion and users are expected to spend an average of $720, up from $8.7 billion and $376, respectively, in 2015. But exploding mobile adoption is just one of a handful of customer behaviors that are making streamlined, integrated payments a must-have for many retailers.
Union Bank of India has launched Ucontrol, a solution which lets customers control credit card usage with a mobile application. The solution is powered by payments provider Worldline, and Union Bank cardholders can manage usage of all their Union Bank of India credit cards from a single mobile application. Shri Arun Tiwari, chairman and managing […]
Emirates NBD has unveiled Emirates NBD Pay, an NFC-based mobile contactless payment solution. The UAE-based bank says it is the “first” in the Central Europe, Middle East and Africa region (CEMEA) to incorporate Visa’s Token Service technology to launch a contactless payment solution. Suvo Sarkar, senior EVP and group head – retail banking and wealth […]
Despite the accelerating rollout of EMV debit, the actual use of chip cards at chip-enabled POS terminals has been held back by the “slower-than-anticipated” pace of merchant EMV adoption, with just 4 percent of all debit card transactions with a chip card happening at a chip-enabled terminal, according to the 2016 Debit Issuer Study from Discover Financial Service’s PULSE network, released on Aug. 9.
Mobile payments are coming to more vending machines in the U.S. and Canada, thanks to partnerships between vending operators in both countries with automated retail payments provider PayRange.
BlueSnap, a payments technology provider, has partnered with Visa Checkout to help online merchants fight checkout abandonment by providing consumers with an easier checkout process and higher payment conversion rates.
Naspers, a South-African-based media and Internet company and parent of online payment service provider PayU, is acquiring Mumbai, India-based online payments company Citrus Payments Solutions in a cash deal valued between Rs 1,000 crore and Rs 1,200 crore (US$150 million to $180 million), according to The Times of India.
Prasac, the largest microfinance institution (MFI) in Cambodia, has launched internet and mobile banking services using the TranzWare multi-card processing solution from Compass Plus. Its customers can now transfer money between their accounts, pay bills, top-up their mobile phones, manage their cards, check their balances and get a mini-statement by logging on to their internet […]
The UK’s Competition and Markets Authority (CMA) has unveiled its plans to make banks “work harder for customers” and ensure the “benefits of new technology are fully exploited”. The CMA’s final report on its retail banking market investigation concludes that “older and larger banks do not have to compete hard enough for customers’ business, and […]
Consider it a frontier of payments: How best to match gift card offerings with a consumer base that is ever more reliant on mobile devices? And doing so while retaining easy portability and wide flexibility.
Azimo says it has become the first money transfer operator to enable money transfers worldwide via Facebook Messenger. “Money transfer is now social,” Azimo states. It describes its new functionality as “revolutionary”. It connects senders and receivers through their Facebook friend list, enabling them to exchange details immediately and links them to the Azimo app […]
ING Bank Romania has launched a new mobile point-of-sale (mPOS) service, underpinned by MasterCard and specialist vendor GoSwiff. ING mPOS is aimed at local merchants of all sizes. It enables them to accept card payments through mobile devices, smartphones and tablets, connected to a card reader. It also supports other added-value services, such as consumer […]
Indonesian telco Indosat Ooredoo and GoSwiff International have teamed up for a new mobile payment acceptance solution for merchants in Indonesia, D-Pay. Bank Negara Indonesia (BNI) is the acquiring bank. D-Pay is a financial service that enables merchants to accept mobile payments, allowing their customers to pay using debit/credit cards (Visa, MasterCard and JCB) and […]
Users of bank-owned P2P money network clearXchange soon will be able to send funds via debit cards, offering faster transfers and significantly expanding the network’s potential customer base to nearly anyone in the U.S. with a debit card.
Many mobile wallet users want more from their mobile wallets, such as sales offers, coupons, order delivery updates and loyalty programs, and marketing and loyalty opportunities using mobile wallets has gone largely untapped, according to a recent study, “The State of Mobile Wallet Marketing,” conducted by Urban Airship, a mobile engagement platform provider.
Czech bank ČSOB and Italian payments firm SIA have launched the first mobile wallet for NFC payments in the Czech Republic. The new app, NaNákupy (literally “go shopping”), supports both MasterCard and Visa, and enables ČSOB’s customers to make contactless payments by smartphone. Petr Hutla, member of the ČSOB board of directors in charge of […]
A Florida man should have gotten his bitcoin through a reputable virtual currency exchange instead of some guys meeting in a Boston Market restaurant parking lot in the middle of the night. Likely surprising no one, a deal to exchange $28,000 for the equivalent in bitcoin went bad, leading to one arrest.
Accenture has acquired 100% of the shares in Amsterdam-based start-up Mobgen. Mobgen says with Accenture it can expand its “end-to-end mobile approach”. The Dutch firm will be part of Accenture Digital, but will keep the same brand, culture and operate from its offices in Amsterdam, London, and A Coruña and Malaga in Spain. It has […]
UK-based start-up Monizo is planning to launch the “first” banking service targeted solely at freelancers. In an exclusive interview with Banking Technology, CEO and co-founder Samuel O’Connor says the firm caters for the particular needs of freelancers across the UK. He says: “The rules are getting more onerous for freelancers and by the end of […]
They want permission from national anti-trust regulators to negotiate as a bloc with Apple over putting their own mobile payment technologies on iPhones.
Venmo also announced additional merchant partners have come on board, bringing the number of merchants now accepting Venmo payments within their mobile apps to 11.
UK-based Tide will offer a “nimble small business current account”, with a swift set-up and no monthly fees. It claims to be among the “world’s first” mobile-first banking services for SMEs. Tide’s CEO George Bevis says the company will open its virtual doors for business in autumn this year. Tide is currently in the “private alpha […]
Who is leading the digital way among the US retail banks? We have put together some nifty stats for the top ten online banking sites in the US for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, developments and trends – to bring you a fuller […]
Who is leading the digital way among the retail banks in India? We have put together some nifty stats for India’s top ten online banking sites for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, developments and trends – to bring you a fuller picture of […]
EBA Clearing, a provider of payment infrastructure solutions owned by 53 major banks in Europe, has published the specifications for its future pan-European real-time payments solution. The new solution is set to go live in November 2017. It will comply with the SCT Inst Scheme of the European Payments Council (EPC). The document, which can […]
With digital banking (and particularly mobile) sharply on the rise in the UK – according to the latest figures released by the British Bankers Association – who is leading among the UK retail banks? We have put together some nifty stats for the top ten online banking sites in the UK for the past month (data […]
Mastercard on Tuesday (July 26) was granted a patent for a device that sidesteps PINs and biometrics for quick consumer payment authorization. The idea is that consumers would authenticate themselves before making the purchase, thereby enabling much faster checkout in-store.
Square Inc. reportedly wants to set up shop in the U.K. That would put the mobile payments service up against such players as PalPay and Germany-based SumUp—among many others—for the loyalties of merchants.
It has been a couple of weeks of important announcements in the challenger banking space, with some interesting long-term trends emerging in the sector. Two new challenger banks have received their banking licences in the past week. Berlin-based Number26 renamed itself N26 and received its full banking licence from the European Central Bank and German […]
Telefónica Germany, in association with Fidor Bank, has launched its mobile banking offering, “O2 Banking”, in Germany. As Banking Technology reported in May, Matthias Kröner, CEO of Fidor Bank, said the collaboration offers “the best of two digital worlds” – banking services via a mobile app and additional services from an O2 mobile contract. The […]
