Commerzbank has processed the first bank payment obligation (BPO) transactions in Austria, covering the import of bus components from Germany and Italy. The buyer, a customer of Commerzbank Austria, is TAM-Europe, located in Slovenia. The suppliers are MAN Truck & Bus, headquartered in Munich, and ISAF Bus Components, an Italy-based supplier and customer of UniCredit. […]
Take the pain out of paytech with this brief round-up. Features Seven Bank, BDO Unibank, Earthport, Kotak Mahindra Bank, Payconiq and Digicash Payments.
This year’s Banking Technology Awards will be taking place on 13 December in London and once again we will be celebrating people that make things happen! The Leadership Awards will recognise individuals and teams that made a considerable contribution to our industry. What are the categories you can nominate in? Woman in Technology (W.I.T.) Award, in partnership with FemTechGlobal, will […]
PayPal is on a tear and looking to significantly boost its P2P payments volume through Venmo, which already posted 103% growth in the second quarter, reaching $8 billion, reports Paybefore, Banking Technology’s sister publication. The company has announced in a blog post that any of the more than one billion people who’ve downloaded the Skype […]
The Monetary Authority of Singapore (MAS) says it will establish a Payments Council with the plan to create an “e-payment society” for the city state. The new council will comprise 20 people from banks, payment service providers, businesses, and trade associations. Members are appointed for a two-year term. MAS says the setting up of the […]
PayPal is on a tear in terms of taking on new partners and is looking to significantly boost its P2P payments volume, which grew 103 percent in the second quarter, reaching $8 billion in Venmo transactions. The company announced in a blog post on Aug. 2 that any of the more than 1 billion people who’ve downloaded the Skype mobile app will be able use it to send money across borders.
The CardLinx Association announced four new members—Capital One, JCB, Yahoo! Japan and Dentsu—as well as the launch of a “groundbreaking forum” on Retail in the Age of Artificial Intelligence (AI) on Sept. 12, 2017, in Chicago.
They say the proof is in the pudding. For CPI Card Group, it’s a case study showing how its instant issuance technology Card@Once saved an issuer significant time and money after customers were affected by a retail data breach.
India’s most popular electronic wallet and payments bank Paytm is gearing up to add messaging capabilities to its mobile app. Experts believe this is in response to WhatsApp’s plans to add a payments piece to its platform. With mobile payments growing rapidly in India post demonetisation, Paytm is expected to quickly double its user base […]
With the launch of its Tap2App merchant payment solution and pilot programme, xPressTap is enabling micro-retailers and small business owners to use their smartphones to accept card payments without a dongle or a portable card reader, reports Paybefore, Banking Technology’s sister publication. The California-based start-up says its patented technology turns any NFC-enabled smartphone or tablet […]
Immediate payments is a key revenue driver for 66% of banks in markets with IP schemes, according to new benchmark data from processor ACI Worldwide and UK consultancy and Banking Technology’s sister company Ovum. Paybefore, Banking Technology’s sister publication, writes that the benchmark report, “2017 Global Payments Insight Survey: Retail Banking,” also found that although […]
Klarna has unveiled Wavy, a new, free P2P payments service. Available in iOS and Android as well as online, the free app enables users in more than 30 European markets to transfer euros between friends and family.
With the Aug. 1 launch of its Tap2App merchant payment solution and pilot program, xPressTap Inc. is enabling micro-retailers and small business owners to use their smartphones to accept card payments without a dongle or a portable card reader.
What’s in a name? Blockchain solutions company Ripple is about to find out. The company has unveiled a new name for its existing global payments network, as well as a handful of new solutions.
Banks are investing in immediate payments to drive revenue, while focusing their IT investments on fraud prevention and operational efficiency, according to new benchmark data from ACI Worldwide and London-based consultancy Ovum.
Prepaid issuers should look to certain banked consumers, P2P and mobile wallet users to gain top-of-wallet status with a whole new set of customers.
PayU Colombia has become the first payments services provider globally to implement Mambu’s Software-as-a-Service (SaaS) based core banking solution. It will support PayU’s new short-term deferred payment product.
Reserve Bank of India (RBI), the country’s central bank and regulator, has given National Payments Corporation of India (NPCI) the go-ahead to consolidate payment of local utility and services bills.
The CFPB issued a bulletin July 31 warning companies about tricking consumers into expensive pay-by-phone fees. The bureau says it’s concerned about companies potentially misleading consumers about the purpose and amount of certain pay-by-phone fees or “keeping them in the dark” about much cheaper payment options.
Prepaid pioneer paysafecard, part of Paysafe Group plc, announced its entrance into the United Arab Emirates. With its flagship prepaid solution, paysafecard will enable consumers to pay cash at vending machines and in retail stores for a prepaid PIN they can use to shop online.
Machine learning continues to take center stage in fraud prevention for the payments industry. Mexico-based payments processor MIT will use U.K.-based Featurespaces’ real-time, machine-learning platform to detect anomalies in individual behavior for fraud and risk management for its 17,000 merchant partners.
Fujitsu Laboratories says it has accelerated transaction processing for Hyperledger Fabric, one of the Hyperledger blockchain frameworks hosted by the Linux Foundation. In its latest development, Fujitsu says the processing of communications between applications and the blockchain platform, which had been the source of bottlenecks, is now “more efficient”. In a trial where this technology […]
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Soumik Roy, a digital marketing and technology specialist, brings us his perspective from within India – and all about the UI and […]
The Payments Strategy Forum, created by the UK’s Payment Systems Regulator (PSR) in 2015, has launched a consultation on its blueprint for a new payments system for the UK. Calling it “the most radical change to the payments industry since the 1960s”, the Forum says the New Payments Architecture (NPA) is designed to “provide simpler […]
Several major payments companies have released Q2 earnings, including The Bancorp, Discover, Mastercard and PayPal. Overall, payments volume is on the rise and partnerships are proving particularly important for PayPal, which has been on tear with recent strategic announcements.
Three local Chinese commercial banks have joined Swift’s global payments innovation initiative (gpi), bringing the number of Chinese banks involved to 16, the most in the world, according to Xinhua. The new trio are Yinzhou Bank and Bank of Ningbo in eastern China’s Zhejiang province; and the Bank of Jiangsu, in the eastern Jiangsu province […]
Several major payments companies released second-quarter earnings this week, including The Bancorp, Discover, Mastercard and PayPal. Overall, payments volume is on the rise and partnerships are proving particularly important for PayPal, which has been on tear with recent strategic announcements.
Recent research from Blackhawk Network reveals that mobile and contactless payment options can help brands to engage with consumers by driving traffic and incremental sales, reducing shopping cart abandonment and supporting customer acquisition.
Mobile financial services company Vipera is acquiring SoftTelecom. The deal is expected to close for $1.5 million (€1.3 million).
The Bancorp Inc. has created a new senior-level team, it says, will strengthen its operations and risk management functions by developing a more productive and efficient operating environment.
SIX Payment Services is buying the Frankfurt-based girocard network operations business from VÖB-ZVD Processing, a subsidiary of Deutsche Postbank, reports Paybefore, Banking Technology‘s sister publication. The agreement provides for the customer relationships, employees and assets of the network operations business being transferred in full to SIX Payment Services as part of the acquisition. The terms of […]
Visa and Marqeta, the open API payment card issuing platform, have formed a multiyear, global partnership to “drive further innovations in commercial and consumer payments”. What’s more, Visa has made a strategic investment in Marqeta to support the company’s domestic and international growth. Initially, the partnership will involve expanding opportunities for virtual, physical and tokenised […]
Paytech firm Viva Payments is bringing Alipay to Greece. A strategic partnership between the two companies will see Alipay users “access the service for the first time” while visiting the country.
Facebook CEO Mark Zuckerberg has cast his sights on monetising his OTT platforms Messenger and WhatsApp, but don’t expect miracles any time soon, reports Telecoms.com (Banking Technology‘s sister publication). The financial performance of the company is exactly what you would expect; another quarter of monstrous growth. Total revenues hit $9.164 billion, a year-on-year increase of […]
Swiss company SIX Payment Services is establishing a larger presence in the German market with its acquisition of the Frankfurt-based girocard network operations.
Visa is expanding its transaction-processing capabilities with two data centres in Singapore and the UK, reports Paybefore, Banking Technology‘s sister publication. The new global processing hubs will “increase the speed, resilience and geo-diversity of Visa’s infrastructure, while strengthening the company’s ability to deliver new and more sophisticated ways to pay in today’s hyper-connected global economy,” […]
The delightful duo of big data and cybersecurity have fuelled the revenue rise for IT services corporation Atos. In its first half 2017 results, Atos’ “strongest H1 ever”, the firm revealed a revenue in big data and cybersecurity of €357 million – a rise of 13.8% organically. Thierry Breton, chairman and CEO, says: “Either on […]
Bread but with the bluster removed. Following on from yesterday’s concise report, our latest fintech funding round-up keeps it brief. Features Cleo, Skype, ItzCash, Ebix and research from Innovate Finance. The “Siri of personal finance,” Cleo, a virtual money assistant, has received £2 million in funding from Skype’s co-founder Niklas Zennström and venture capital (VC) […]
For any organization regularly processing card-not-present (CNP) payments, boarding the fintech bandwagon is a must. There are three key fintech developments—APIs, regtech and cybersecurity strategies—you need to embrace (or face disruption).
The U.S. House of Representatives voted on July 25 in favor of HJR 111 to repeal the CFPB’s final rule on arbitration agreements. The vote was 231-190, but the companion resolution in the Senate may be on the back burner for a while as the Senate focuses on budget and health care battles.
