Mobile


Top fintech stories this week – 6 May 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Atom Bank adds another system to its tech set-up; readies mobile app Bank has just launched, but already has problems. Monitise looks to be profitable in H2 2016 But did it grow too big too fast? EFG and BSI […]

Atom Bank adds another system to its tech set-up; readies mobile app

UK challenger bank, Atom Bank, has added another solution to its burgeoning IT architecture. This is a lending system from domestic specialist provider Phoebus Software, Banking Technology understands. The bank has just launched, but is yet to launch a fully-fledged mobile app. The app is yet to be available on Android. Meanwhile, the iOS app […]

Monitise looks to be profitable in H2 2016, appoints new COO, launches new product

UK-based payments vendor Monitise seeks to turn its fortunes around with a new digital payments offering, new COO and a new, re-focused business structure. Banking Technology investigates. Choppy waters The mobile payments vendor has had a difficult few years, partly attributed to growing too big too fast. By 2014, it had to write off £128.5 […]

Finca Bank Georgia in digital banking system revamp

Finca Bank Georgia, an affiliate of Finca International, a global microfinance organisation, is looking to modernise its online and mobile banking systems. The bank has recently issued a tender to find a new provider and software. Banking Technology understands that the selection is in its final stages at present, with contract negotiations underway. Once the […]

ABA Bank looks for new digital banking platform

Cambodia-based ABA Bank is looking for a new omnichannel banking solution and has issued a request for proposal (RFP). Interested parties should be able to offer “an integrated, multichannel platform” that supports internet and mobile banking for retail and corporate business lines. Current set-up At present, ABA Bank has two separate portals for corporate and […]

Will Wirecard Be a ‘boon.’ for Apple Pay in U.K.?

Wirecard’s boon. mobile payments service has launched for Apple Pay in the U.K., opening the mobile payments service to consumers, regardless of bank affiliation. By offering a digital prepaid MasterCard, boon gives Apple Pay a way to reach customers without having to go through a traditional bank.

UK’s oldest bank, C Hoare & Co, goes digital with Backbase

C Hoare & Co, Britain’s oldest bank (and the fourth oldest in the world), is modernising its front-end operations with Backbase, a specialist provider of omnichannel banking software. London-based C Hoare was founded in 1672 by Sir Richard Hoare and remains family-owned and run today. It focuses on private banking and investment management. It employs around […]

FTC Investigating Venmo for ‘Deceptive or Unfair Practices’

The Federal Trade Commission is investigating Venmo, the popular P2P payment app owned by PayPal Inc. In its quarterly earnings report, PayPal said it received a Civil Investigative Demand from the FTC on March 28, as part of an investigation into whether PayPal through its Venmo service is “engaged in deceptive or unfair practices,” according to the filing.

Money20/20 Europe Recap: No More ‘Us Vs. Them’

When more than 3,700 people gather in one place to talk about payments, you never know what you’re going to get. But the inaugural Money20/20 Europe conference in Copenhagen earlier this month left me with one major theme—partnership.

New mobile banking service, Lunar Way, to launch in Denmark

A new mobile banking service in Denmark, Lunar Way, is gearing up for launch as it has secured a local partner, Københavns Andelskasse (Copenhagen Cooperative Bank). Lunar Way is itself not a bank, but is a provider of digital financial services, similar to Simple or Moven. Its model is to partner with established banks (that have […]

MasterCard Launches Faster EMV Technology

Faster EMV is coming to the U.S. MasterCard has launched M/Chip Fast, which “brings some of the principles successfully implemented for contactless cards and mobile wallets around the world to point-of-sale terminals,” the payments network said.

Infographics: seizing the mPOS opportunity

Mobile point-of-sale (mPOS) is revolutionising the POS terminal industry. In two years, the market is estimated to be worth $43 billion. By 2019, 46% of all POS terminals in 2019 are expected to be mPOS. Over the next four years, the market is poised to grow by 400%. This nifty infographics – courtesy of FIME – […]

M&A Update: Visa Europe Deal Tweaked, MasterCard Eyeing VocaLink

Visa Inc. has amended the terms of its pending acquisition of Visa Europe, reducing a planned future payment in favor of additional cash up front. Meanwhile, MasterCard reportedly is in talks to acquire U.K. payments giant VocaLink in a potential £1 billion (US$1.45 billion) deal.

Orange buys Groupama for 2017 mobile bank launch

Orange has made a significant stride in mobile banking by acquiring a majority stake in financial services firm Groupama, reports Tim Skinner at Telecoms.com. The French mobile operator has confirmed it has acquired 65% of Groupama shares, will be launching a 100% mobile banking service in early 2017. By acquiring Groupama, Orange will be gaining an extensive […]

Top fintech stories this week – 22 April 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Corelation’s Keystone core system reaches 50 users All aboard for US-based credit unions. Citizens Bank plans core banking revamp with FIS Bank is also looking at a new mobile platform and middleware layer. Scotiabank invests millions of dollars […]

Moni goes into receivership

UK-based payments firm Moni has gone into receivership. Moni says its business and assets are being marketed for sale; and joint administrators have been appointed. If people have queries or are “owed money”, Moni is directing them to an advisory service. The firm did offer a mobile payment app for iOS and Android – similar […]

Swift Business Forum London 2016: Open banking touches a nerve

Financial institutions are still nervous about APIs and security when the word “open” is discussed, was one theme from the Swift Business Forum London 2016. More than 1,300 delegates were packed into Tobacco Dock, London for the sixth edition of the one-day event. Yesterday morning’s sessions (20 April) were a mixed bag – “blockchain is […]

Nets and JCB partner for mobile payments in Denmark

Denmark-based Nets and JCB have teamed up for Nets to use J/Speedy, JCB’s contactless technology, for Dankort payments with smartphones. Nets will launch Dankort on the mobile in autumn 2016, and JCB is also aiming to accelerate its mobile payment implementation globally using host card emulation (HCE) technology. Jeppe Juul-Andersen, SVP at Nets with the […]

MasterCard and Western Union boost Bangladesh’s mobile money transfers

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 […]

Mobile Wallet Offers Are Blooming

New mobile-wallet offers are blooming like spring flowers as industry players try to attract more consumers to the fledgling payment method, which represents only a speck of U.S. retail spending.

New Zealand Banks on Faster Payments with SIA

The country’s central bank hires Italy’s SIA to set up a real-time gross settlement system. The move represents the lastest development in the global effort to implement faster payment systems.

Backbase’s omnichannel platform gains new live site in Kazakhstan

Kazakhstan’s Halyk Bank has launched a new digital banking subsidiary, Altyn-i, underpinned by the Backbase omnichannel solution. Backbase interfaces to Altyn-i’s core banking system, CBS, from Colvir Software Solutions. The new bank aims to offer a full range of financial services. At present, it offers account opening, debit cards and payment services. Consumer loans, mortgages […]

Card Forum Panel: Mobile Wallet Opportunities, Pitfalls for FIs

When it comes to mobile wallets, Apple Pay, Samsung Pay and Android Pay garner plenty of headlines. But while the trio of high-profile “—Pays” has finally brought long-awaited consumer attention to mobile wallets at large, are they putting bank issuers at risk of losing control of the payments experience? And, if so, how do FIs fight to stay relevant in the mobile wallet age?

Delaware Unveils Blockchain Initiative

The Delaware Blockchain Initiative demonstrates the state’s commitment to ensuring this remains the case for the growing blockchain technology sector.

FTC Chair: More Security Needed for Internet of Things

Edith Ramirez says Congress will have to craft laws to protect all the data and activities that stem from Web-connected appliances, cars and other devices. She also urges the industry to better protect that data.

Earthport and Ria Money Transfer join forces for remittances

Earthport, a UK-based cross-border payment network, and Ria Money Transfer, the world’s third largest money transfer company, have teamed up. Earthport will provide Ria with access to a global payment network. “Through a single, managed relationship with Earthport, Ria will gain access to over 60 domestic clearing schemes,” Earthport states. The solution “enables complete transparency”, […]

Money20/20 Europe: M-Wallet Future

During a panel at Money20/20 Europe in Copenhagen on April 5, experts discussed the challenges of creating personalized experiences to entice users and deliver those experiences at scale.

A Decade in, PayPal’s Mobile Business Booming

PayPal Inc. has unveiled a new chart that shows just how quickly its mobile payments have spread in the U.S. over the past decade. Issued in a PayPal blog post to mark 10 years since the company offered its first mobile payments service—which enabled users to send money via text—the chart tracks PayPal’s mobile payments volume by year. Since beginning at under $50 million in 2006, mobile payments volume shot up, cracking the $1 billion mark in 2011—and the $10 billion plateau just a year later.

Verifone Debuts M-POS Device at Money20/20 Europe

The Verifone Carbon, designed for such businesses as cafes and retail stores, enables not only payments but personalized marketing messages targeted at consumers. Verifone says the launch helps showcase that it’s competing on a design and innovation standpoint, not just by providing security and scale.

Amazon Expands Payments with Global Partner Program

Amazon is stepping on the gas when it comes to expanding its payments business globally. The e-retail giant today announced the launch of the Amazon Payments Partner Program in four countries. In an interview at Money20/20 Europe in Copenhagen, Patrick Gauthier, vice president, Amazon Payments, talked to Paybefore about the company’s payments plans and how it’s winning over merchants.

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