ShopKeep Expands into SMB Lending
ShopKeep doesn’t just want to help small businesses accept payments, it wants to help them grow with a new merchant cash advance service.
Payments
Wells Fargo Fake Bank Account Scandal Grows
The scandal of employees at Wells Fargo creating 2.1 million fake bank accounts and credit card numbers to boost sales figures has just gotten bigger.
Six new banks join UBS-led utility settlement coin plan
The UBS-led effort to create a digital cash model for payments and settlement on blockchain has got six new banks onboard, according to the Financial Times. As Banking Technology reported in August last year, BNY Mellon, Deutsche Bank, ICAP and Santander joined UBS and Clearmatics to advance their utility settlement coin (USC) concept, and plan […]
Top 5 Best Challenger Banks: Fidor Bank
Our final spotlight article for our Top 5 Best Challenger Banks list is the only actual bank in the bunch. See how Germany-based Fidor Bank stacks up against the high street banks and its nonbank competitors.
Japanese start-ups fire up in force
The land of the rising sun is seeing a rising number of start-ups power up as they hunt for fintech glory. According to Nikkei Asian Review, 46 tech companies have gone public in Japan so far in 2017, with the full-year total seen reaching 80 to 90. The highest tally in the last decade was […]
Fintech Trends: the Expected, Unexpected and What’s Next at FinovateFall
Get a sneak peek at what trends will shape the discussion at FinovateFall, including a few things you might not expect.
Fintech firms unrelated to acquisition offer running commentary
For reasons that probably lie in the lack of a marketing and sales budget, the acquisition of payments provider Bantam Banana (don’t ask) by fintech behemoth Moby Trick (founded by Merman Helville) has prompted a flurry of comments from companies that have sweet F.A. to do with the event. Financial terms of the acquisition were […]
Alexa gets into bed with Cortana
Amazon and Microsoft have announced their previously competing voice-driven artificial intelligence (AI) assistants are now an item, reports Telecoms.com (Banking Technology‘s sister publication). The world can be a lonely place for virtual assistants. All the company they have are demanding millennials constantly asking what their latest email is or a retiree wondering what the weather […]
Eftpos Australia launches new settlement service
Eftpos Australia, the nation’s most widely used debit card payments system, has unveiled its new eftpos Settlement Service (eSS). According to Eftpos, eSS enables the centralised settlement of CHQ (cheque) and SAV (savings) transactions processed via the Eftpos Hub. Paul Jennings, Eftpos acting CEO, says the implementation took 18 months and with all members now […]
Google chases down Apple with ARCore launch
Google has responded strongly to Apple’s front-running approach to augmented reality (AR) with the launch of a new AR platform, reports Telecoms.com (Banking Technology‘s sister publication). ARCore is the Android equivalent to the Apple ARKit; in short, an AR reality platform for developers. It’s not the first time Google has had a crack at the […]
Play in Our Sandbox: Why Galileo Processing Opened Its APIs to All
Summer’s almost over, but there’s still time to play in the sand. Our decision to open our sandbox for all developers, not just clients, is a vital move in supporting creativity and innovation in payments. And, it’s speeding time to market.
Get your Bacs up with Direct Debit feedback
UK payments system Bacs is asking for public feedback on how to improve the nation’s Direct Debit product. Bacs says usage is at an “all-time high” and lavishes praise on it. What a surprise. However, its 2016 consultation identified where it might be able to make improvements and “any changes will need to be carefully […]
Blackhawk Network Acquires CashStar for $175 Million
Blackhawk Network Inc. keeps getting bigger. The Pleasanton, Calif.-based global technology company, has acquired digital gifting specialist CashStar Inc. for approximately $175 million in cash.
Top 5 Best Challenger Banks: Cashplus
Meet our No. 1 on the Top 5 Best Challenger Banks list and find out why CEO Rich Wagner says the company belongs there.
GasBuddy Unveils Payment Service with WEX
GasBuddy, a smartphone app helping nearly 70 million drivers find the best gas prices, has unveiled Pay with GasBuddy, a new payment service in partnership with WEX that provides U.S. drivers with discounts.
Digiliti Money rejects Urban FT offer
Prospective buyer Urban FT, which first announced its desire to acquire mobile app technology company Digiliti Money (DGLT) on 16 August, reports that its revised offer for the company has been rebuffed. DGLT has been silent since 14 August when it announced the delay of its second-quarter earnings report, pending an internal investigation and floating […]
McDonald’s Taps Capgemini for Digital Push; Burger King Unveils Whoppercoin in Russia
Do you want fries with that? France-based Capgemini is likely to hear that phrase a lot more now that it’s signed a multiyear IT strategic provider agreement with McDonald’s Corp. Meanwhile, Burger King Russia is jumping on the cryptocurrrency bandwagon.
Singapore’s Payments Council seeks road to common QR code
The Monetary Authority of Singapore’s (MAS) new Payments Council plans to set up interoperable electronic payments and has unveiled a taskforce to develop a common QR code for the city-state. As reported earlier this month, the Council launched and comprises 20 people from banks, payment service providers, businesses, and trade associations. MAS says the setting […]
Klarna celebrates year-over-year sales, profit gains
Klarna is having quite a summer. It reported sales and profit results for the first half of 2017 that represented gains of 21% and 138%, respectively, reports Finovate (Banking Technology‘s sister company). The strong financials come amid a series of headlines that show the Swedish payments company making strides on a number of fronts. This includes […]
Mastercard pumps up payments with Fitbit’s first smartwatch
Mastercard is bringing its contactless payments to Fitbit’s first smartwatch, Fitbit Ionic.
How the new EU payments regulation will help prevent fraud
Scott McInnes, partner at international law firm Bird & Bird, discusses how the Second Payments Services Directive (PSD2) will affect companies and what requirements industry players need to know.
RegTech Firm Corlytics Adds Depth to Advisory Board
Corlytics, a regulatory risk intelligence firm, has named Peter Oakes and David Bundi to its global advisory board.
NCR Takes Bigger Bite of Restaurant Business
NCR is hungry for more restaurant business, announcing its third such partnership in the last month. The Duluth, Ga.-based company is working with Performance Food Group to offer its NCR Silver cloud-based, point-of-sale solution to a new group of independent restaurants.
Bridg Raises $11 Million from Morpheus Ventures, March Capital, Visa and NextEquity
Bridg, which claims to be the first marketing software company to leverage point-of-sale data to drive “precision-marketing campaigns” for restaurant and retail brands, has secured $11 million in Series B funding.
Keys to Selecting Development Partners for Your Payments Project
It’s hard to imagine a fintech or payments company that today doesn’t have at least one key business initiative hinging on some kind of software development. Before you sign on the dotted line with a developer, here’s what you need to consider.
Blockchain Roundup: The Good, the Bad and the Ugly
Nations, platforms and some bad news in our latest blockchain and bitcoin roundup. Find out more about the SEC’S suspension of First Bitcoin Capital Corp., an initial coin offering for cryptocurrency exchange platform KyberNetwork and more.
Digiliti Money and Urban FT in “advanced” acquisition talks
Prospective buyer Urban FT Inc. confirmed on Aug. 25 that it’s in “advanced negotiations” with Digitili Money regarding a “potential transaction that will see DGLT stave off potential bankruptcy proceedings.”
PSCU opens Midwestern Service Center in Omaha
PSCU, a credit union service organisation that supports more than 850 owner credit unions, opened its Midwestern Service Center in Omaha, Nebraska.
Alipay Buzz Continues with Starbucks Deal
Alipay is zipping along in terms of its international expansion. With its latest partnership, the world’s largest online and mobile payment platform operated by Ant Financial Services Group, is now available for Mainland Chinese tourists at all 242 Starbucks branches across Malaysia.
Apple chases $200m tax incentives with Iowa data centre
It was a promise on the campaign trail from President Trump, and at least this one is coming true. Apple has been teased into opening a data centre on US soil with the promise of $207.8 million in tax incentives, reports Telecoms.com (Banking Technology‘s sister publication). As part of the project, Apple will purchase 2,000 […]
Top 5 Best Challenger Banks: Varo Money
“There’s a reason that the bank of the future hasn’t been created yet—it’s extremely difficult,” says Top 5 Best Challenger Bank Varo Money. See if you think they’ve got what it takes to rise to the challenge.
Square Opens Manhattan Store
Mobile POS pioneer Square is venturing into new territory with its own brick-and-mortar store in Manhattan.
InComm to buy Serve platform, become exclusive Amex prepaid distributor
American Express and InComm have entered into an agreement for InComm to acquire the exclusive distribution rights of Amex’s prepaid reloadable and gift card products in the US, including Bluebird and Serve. InComm also will acquire the Serve technology platform and other assets related to the American Express prepaid reloadable and gift card products business. […]
Simplify Back-to-School Season with E-Payments
Prepaid cards and alias-based payments that rely on email or mobile phone numbers can offer students and colleges and universities significant benefits over traditional check disbursement of financial aid.
Top 5 Best Challenger Banks: Capital on Tap
Get to know the SME lending specialist that’s challenging U.K. high street banks by providing zero percent interest when balances are paid in full within 37 days.
USAmeriBank goes live on Finastra’s hosted payments hub
USAmeriBank has implemented Finastra’s hosted payments hub for US domestic and international wire transfers. As reported in April, USAmeriBank announced its payments hub plans – with the software supplier revealed as DH Corporation (D+H). In June, Misys and D+H joined forces to create Finastra, the third largest financial services technology company in the world. Finastra […]
Juniper predicts major global shift to contactless on heels of US EMV push
A new study from Juniper Research is forecasting that more than half (53%) of global transactions at the point of sale will be contactless within five years, compared with just 15% this year, reports Banking Technology‘s sister publication Paybefore. The new research, “POS & mPOS Terminals: Vendor Strategies, Positioning & Market Forecasts 2017-2022,” expects adoption in the US […]
Walmart taps Google for omnichannel commerce play
Google and Walmart are teaming up to take on Amazon (and Alexa) with voice-activated commerce and more plans for 2018, reports Banking Technology‘s sister publication Paybefore. Starting in late September, the retail giant will be working with Google to offer hundreds of thousands of items for voice shopping via Google Assistant – the largest number […]
TerraPay teams with Instant Cash for cross-border payments
Mobile payments switch TerraPay and money transfer company Instant Cash have teamed up to enable real-time cross border money transfers for migrants that want to send money back to Africa to recipients’ mobile wallets. Powered by TerraPay’s global clearing and settlement service for mobile wallets, the partnership “will make cross-border money transfer faster and convenient […]
3 Ways to Drive User Experience Success and Value
Designing the user experience consumers expect in digital banking is less about seeing what sticks and more about seeing what stands up to real-world human examination and use.
