Faster payments is one of the more pervasive topics in almost any global payments conversation. And if you look at key countries like Singapore, the US, and Australia, it may seem to be more than just talking. Additionally, many countries are improving their infrastructure to clear payments in the same day or already have domestic […]
As US-based KeyCorp prepares to take over its rival First Niagara to create the country’s 13th largest bank, Banking Technology muses what this might mean for the fintech market. A major system selection perhaps, as both banks are currently using dated systems? KeyCorp and its banking subsidiary, KeyBank, hope to finish acquiring First Niagara by […]
Only 18% of consumers aged 60 or over in the US use mobile banking, according to a study from the US Federal Reserve. In its 86-page report “Consumers and Mobile Financial Services 2016”, the Federal Reserve reported its findings from a survey which focused on consumers’ use of mobile technology to “access financial services and […]
Mobile banking use in the U.S. has increased to 43 percent of adults with capable devices. But only a relative few of those consumers have paid bills with their mobile phones.
Exchange group SIX and Switzerland’s five largest banks are in talks over a joint mobile payments platform for the country. SIX, retail chains Migros and Coop, and telecoms company Swisscom are planning to create a standardised digital payment system for consumers in Switzerland. A joint statement from the banks – UBS, Credit Suisse, Raiffeisen, PostFinance […]
Croatia’s Splitska Banka has gone live with SB SmartNet, a new internet and mobile banking system provided by Polish IT specialist Comarch. SB SmartNet, based on Comarch’s Smart Finance solution, will give Splitska’s retail customers access to account information as well as a multitude of transactional services. The mobile version is designed for iOS and […]
Samsung Electronics and China UnionPay (CUP) have launched the mobile payment service Samsung Pay in China. The South Korean firm joins Apple in entering the country, as the US giant launched its mobile payment system in China last month. That was also in partnership with state-owned bankcard association CUP. Samsung Pay currently supports credit and […]
New approaches to authentication are kicking into high gear as eBay joins the FIDO Alliance, which promotes biometrics, while IDology launches a mobile authentication product.
The OCC will release a paper to start discussions on new regulations for financial startups, which banks reportedly want.
The world has been talking about “mobile payments” for years, but the phrase means different things to different people. So what exactly are mobile payments? And how much more mobile than cash or cards can payments actually get, asks Philipp Nieland, co-founder and CTO of PPRO Group. Some people believe that mobile payments are those […]
On the final day of the All Payments Expo in New Orleans on March 23, Sam Maule, emerging payments practice lead at Carlisle & Gallagher Consulting Group, challenged the audience to change the way they think about providing payments solutions. “You all care [about new payment options], but consumers don’t. They have solution overload,” he said.
For retailers and brands setting their sights on digital gifting, it’s important to maintain a strong focus on card design and delivery to ensure the best possible customer experience, according to a group of retail and gifting experts this week at the All Payments Expo in New Orleans.
The sharks were circling at the All Payments Expo in New Orleans this week. To close out the day on Tuesday, a group of eight startups and early stage payment companies pitched their idea or product to a group of three payments industry expert “sharks.” When the waters had calmed, AuthenticID, an Atlanta-based provider of identity verification products, had emerged as the winner.
B2B represents the most promising growth area for Web-connected devices and cars that can order products. And prepaid could be how users pay for such transactions.
Google is bringing Android Pay to the UK market – with Bank of Scotland, First Direct, Halifax, HSBC, Lloyds Bank, M&S Bank, MBNA and Nationwide Building Society the first to support it. This latest move follows Android Pay’s launch in the US in September 2015, and it should be available in the UK “in the […]
Mobile wallets command serious buzz in the payment and retail worlds, but at the All Payments Expo Tuesday in New Orleans, experts pointed out that the technology has yet to gain global traction and consumers will need more from such programs than the ability to make purchases.
Santander says it has become the “first” bank in the UK to launch voice banking technology. The solution is provided by Nuance Communications. However, last month HSBC announced it was launching voice recognition and touch security services in the UK, which will be available to 15 million banking customers. This project is also being carried […]
DNB will close more than half its branch offices and lay off 600 employees as the rise of digital banking takes its toll on the physical world. The Norwegian bank says “almost all” of its customers have become digital and points to the success of its Vipps app – the number one downloaded app in […]
As retailers and brands seek to deepen connections with their customers, emerging payment technologies represent a key opportunity for meaningful engagement with consumers, according to Talbott Roche, president and CEO, Blackhawk Network. Delivering a keynote address on the opening day of the All Payments Expo in New Orleans on Monday, Roche explained how the growing ubiquity of mobile devices and the rise of the connected consumer have created myriad new channels for messaging and engagement.
Hong Kong start-up Neat is setting its sights on the millennials’ market and will let customers open a payment account with a selfie. Neat founder David Rosa, a former MD at Citi, says the app and payment card will use facial recognition technology to confirm the holder’s Hong Kong identification card is correct. It’s not […]
DNB’s “first” peer-to-peer (P2P) mobile payment solution in Norway has become the number one downloaded app in the country. Dubbed “Vipps”, and launched six months ago with Tata Consultancy Services (TCS), it is now used by 25% of Norway’s population. The app is available for use on all mobile devices and it allows short chat […]
A UK-based challenger bank, Mondo, has partnered with Thames Card Technology for debit card production and personalisation. Beta test cards will be issued to consumers this year. Mondo, which positions itself as a “mobile first” bank, will be offering a contactless debit card paired with a mobile banking app to its customers. The mobile app’s […]
A proposed class-action lawsuit regarding the alleged mishandling of bitcoin accounts in Japan will remain in the U.S., according to a federal court ruling in Chicago this week.
Even as I am prepping for my next industry event, observations from the last conference I attended continue to permeate my thoughts. The ATMIA US Conference that was held in New Orleans only recently and yet, three items continue to have me thinking about the durability, indeed longevity, of some of the points raised. In […]
The mobile-only bank, set to open for business later this year, integrates technology from a Xerox subsidiary into its mobile banking app.
The new design for the online and mobile payments service promises to increase transactions, according to Visa testing.
Consumers with Amazon’s Echo and other devices can pay their Capital One credit card bills and perform other tasks through the new service.
ExxonMobil is now the “first major” fuel retailer to accept mobile payments at the pump, including Apple Pay, throughout the majority of its US network. The app enables customers to authorise a pump for payment via the cloud. Customers have the option to select Apple Pay as a default form of payment from within the […]
Some of the major US banks are planning to tap into the instant payments market via their digital network, according to Reuters. Banks including JP Morgan Chase, Bank of America, Wells Fargo and US Bancorp will use their jointly-owned network, clearXchange, to let their customers transfer money. “What we are doing now is delivering payments […]
American Express could be exploring a way to enable its cardholders to pay with loyalty points on e-commerce sites or mobile wallets, according to a recently released patent application.
Blockchain is one of the hottest trends in fintech. A payment fraud expert explains how the technology can make transactions safer and what its limits are.
UK payments provider Tuxedo has launched a “live load” payments technology platform, which removes the need to prepay. The vendor says it is the world’s first. The platform is based upon a single, partner-issued Visa or MasterCard, which is linked to customers’ existing payment sources via Tuxedo’s own platform. The platform is PCIDSS (Payment Card […]
Google’s new Hands Free shopping test enables consumers to pay with smartphones but make purchases via digital photos of their faces. It represents the newest frontier for mobile payments.
Who, what, where, when of the fintech industry today – this excellent infographics pulls together plenty of useful data, from top specialists, unicorns and start-ups to geographies and M&As. Created by Savvy Beaver and Call Levels.
The CFPB has hit online payments provider Dwolla with an enforcement action over what the agency describes as misleading claims the company made about customers’ data security and the risks of using Dwolla’s online system. The action is the CFPB’s first enforcement related to a data security issue, the agency said.
Square Inc. has added a new feature to its Square Cash P2P money transfer service that enables users to store funds within their Square Cash accounts—a move that means the service can fulfill some of the functions of a mobile wallet.
When Enterprise Bank began offering a mobile banking app designed by Fiserv with small business clients in mind, the uptake was far beyond expectations. Catering to business clients via mobile has several benefits, such as increasing loyalty and profitability and attracting millennial entrepreneurs.
Apple will testify tomorrow before the House Judiciary Committee on encryption amid its fight with the FBI over creating software to hack an iPhone of one of the terrorists responsible for the December attacks in San Bernardino, Calif. Fellow tech companies, including Google, Facebook, Microsoft and Twitter, are expected to file amicus briefs in support of Apple’s decision not to comply with a court order demanding that Apple comply with the FBI’s request.
As e-merchants seek to reduce friction for their Web and mobile customers, authentication specialist iovation has launched a new “password-less security” service, which the company says streamlines the user experience while maintaining robust protections.
German digital bank Number26 and TransferWise, a UK-based international money transfer platform, have teamed up to provide Number26 customers with direct “in-app” access to TransferWise’s service. Number26 co-founder and CEO Valentin Stalf says the company wants banking products to be “accessible to customers with one tap, creating a fintech hub inside the Number26 app”. The […]
