Instead of reporting its second-quarter earnings today, Digiliti Money Inc. plans to file for an extension with the SEC after its accounting firm flagged problems with its previous financial reports, the company announced Aug. 14.
Former financial ombudsman Walter Merricks is appealing the U.K.’s Competition Appeal Tribunal’s decision not to certify his claim in a proposed £14 billion (US$18.2 billion) class action lawsuit against Mastercard over interchange.
As students gear up for back to school, the competition for international tuition payments continues to heat up. Geoswift, UnionPay International and Western Union Business Solutions are offering Amazon gift cards to Chinese students studying in 14 countries that use their service for cross-border tuition payments.
Fintech zeitgeist! This week, Banking Technology’s editor Tanya Andreasyan muses about the growing trend of celebrity endorsement in the fintech world.
PayPal has set up two innovation labs in India – based out of the company’s tech centres in Chennai and Bangalore – to help the country’s fintech start-ups grow.
Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi and UAE Exchange have teamed up “to support, develop and promote the fintech” ecosystem in the country.
Business-to-business (B2B) payment solutions company Trustly has partnered with e-commerce payment provider Qliro.
Take a lesson (and an infographic) from the Ohio University School of Economics on how to approach millennials and turn them into lifelong customers.
EXCLUSIVE: Barclaycard is launching a pilot that enables merchants in the UK to accept in-store Alipay transactions. The pilot will commence on 14 August 2017 in eight retail stores across the UK, with Barclaycard providing the POS solution for payments via Alipay.
Facebook-owned messenger app WhatsApp submitted a new update through the Google Play Beta Programme, which will make payments available in the app’s new version.
Ant Financial, Tencent and 42 other payments and financial services firms in China have agreed to route their payments transactions through a new clearing house, controlled by Chinese government.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Home improvement chain Lowe’s has a new payments tool in its toolbox to help small businesses, contractors and construction professionals—a prepaid card and companion mobile app to manage business expenses.
Ben Jackson, who previously led Mercator Advisory Group’s prepaid advisory service, has joined the Network Branded Prepaid Card Association as chief operating officer.
After a spate of recent partnership announcements to expand its acceptance network and P2P reach, PayPal is buying Swift Financial to boost its small business lending division.
US-based Network Branded Prepaid Card Association (NBPCA) submitted its comment letter to the Consumer Financial Protection Bureau’s (CFPB) on the bureau’s proposed changes to the final prepaid accounts rule. The trade group is calling for additional revisions to the rule as well as an extended implementation period.
Cross-border payments and receivables platform Flywire (formerly peerTransfer) is marking international growth.
TransferMate, a global B2B payments platform, announced the expansion of its senior management team following its achievement of full U.S. regulatory approval.
Green Dot Corp. reported strong numbers for the quarter ended June 30, 2017, including a 140 percent increase in GAAP net income to $19.3 million, up from $8.0 million over Q2 2016.
Vantiv and Worldpay each reported double-digit profit growth on Aug. 9 and announced that their respective boards have agreed to an £8 billion (US$10.4 billion) merger. The combined company, which will be called Worldpay, will be valued at approximately £22.2 billion (US$28.8 billion).
The chance to win big is going mobile. Using live ticket technology from Linq3, Blackhawk Network will give grocery shoppers the ability to purchase mobile-enabled tickets for big jackpot games, such as Powerball and Mega Millions, in the checkout line.
Oracle has unveiled its brand new development, Oracle Banking Payments. Built from the ground up, the service uses the ISO 20022 messaging standard and supports global and local payment standards, including SEPA, Swift 2017, Fedwire, U.S. ACH and Swift’s gpi.
Oracle has unveiled its brand new development, Oracle Banking Payments. The product has been built from the ground up, leverages ISO 20022 and supports global and local payment standards (SEPA, Swift 2017, Fedwire, US ACH and Swift’s gpi).
With competition for cross-border payments heating up, new data from currency exchange website XE.com show that U.S. residents are transferring money internationally most often to pay bills or for living expenses, followed by travel expenses, mortgage and rental payments, and cash gifts.
Prepaid is having a renaissance thanks to real-time mobile and web account access that’s enabling a number of disruptors to offer prepaid solutions for a new set of customers.
Wirecard is expanding its collaboration with shop system developer Gambio to launch GambioPay, which the companies say simplifies payments processing and cuts costs for online retailers.
Bread, a fintech startup that builds installment payment solutions for online merchants, has completed $126 million of equity and debt financing to expand its portfolio and bolster its engineering team.
Abu Dhabi Global Market and KPMG are launching the first Fintech Abu Dhabi Innovation Challenge—a five-week program for “innovative and mature startups across the globe,” with a chance to win $15,000 in prize money.
With less than one month left to nominate for the Banking Technology Awards, now is the time to polish up on your entry. The question we get asked often is how to write a winning entry. Well wonder no more, we have a few tips for you on what to include. The more detail the better! Dates […]
Payworks, a Germany-based provider of point-of-sale (POS) payment infrastructure, has inked a deal with Alipay. Payworks’ gateway tech will be supporting the integration of Alipay for payment providers across Europe.
Crane Bank, a failed bank in Uganda, spent millions of dollars on IT services and software that was never supplied, according to a report by PricewaterhouseCoopers (PwC) into the bank’s mismanagement.
Paysafe Group has reached an agreement to be acquired for £2.96 billion ($3.89 billion) by private equity firms Blackstone and CVC Capital Partners.
Off the back of its involvement in Australia’s New Payments Platform (NPP), Swift has entered the instant payments market in Europe, with plans to launch a gateway solution in November 2018. The solution will enable instant payments to be made over the Swift network using a single gateway to connect to multiple instant payments systems across Europe.
The CFPB has released a new overdraft study, along with four prototypes of “Know Before You Owe” disclosures, which the bureau is testing, possibly ahead of regulating checking account overdrafts.
As part of its overall payments expansion strategy, Sutton Bank has named prepaid veteran Jeff Lewis senior vice president, prepaid services.
Chinese online and mobile payment platform Alipay is looking to grow its presence significantly in Russia with the help of VTB Group.
Jiffy—the instant mobile payments service developed by SIA—is now available in more than 150 outlets in Milan, Rome and Turin.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
11:FS Fintech Insider podcast featuring FinTech Futures’ Tanya Andreasyan.
Jiffy – the instant mobile payments service developed by SIA – is now available in over 150 outlets in Milan, Rome and Turin. As reported last year, the person-to-business (P2B) project was piloted in Milan and Bergamo, allowing customers to pay via app at participating retail outlets authorised by UBI Banca. SIA said at the […]
