Simple’s move to a new bank API leaves some customers stranded
Moving accounts to Simple’s parent bank’s API is not that simple.
Payments
Intesa Sanpaolo, EBA Clearing Complete Pan-European Instant Payment Test
Italy’s largest retail bank, Intesa Sanpaolo, and EBA Clearing have successfully completed their first user testing activities on financial technology provider Dovetail’s solution for EBA’s pan-European real-time payment platform.
Intesa Sanpaolo and EBA Clearing complete first pan-European instant payment test
Italy’s largest retail bank, Intesa Sanpaolo, and EBA Clearing have successfully completed their first user testing activities on Dovetail’s solution for EBA’s pan-European real-time payment platform. Among the institutions funding the new EBA infrastructure, Intesa Sanpaolo is the first one to connect to the test system. The new infrastructure will provide a real-time payment processing […]
Silicon Valley Bank opens up throttle for API banking
US-based Silicon Valley Bank (SVB) has launched new APIs to let its clients programmatically open bank accounts, and send payments using a credit card network and via the automated clearing house (ACH) network. Dan Kimmerling, director, API banking at SVB, says its goal this year is to “develop a broad array of APIs” and wants […]
Global Payments Launches Mobile Payments, Access Platform for Campuses
A year after diving into the campus card vertical with the $4.3 billion acquisition of Heartland Payment Systems, Atlanta-based technology provider Global Payments has unveiled its new TouchNet OneCard VIP service, which the company describes as a single point of access to campus life.
Google’s Android Pay Gets a Hand from Banks
Google is banking on mobile apps to boost its mobile wallet. The Android Pay parent has linked that service to a handful of banking apps, giving consumers the ability add their cards more quickly to the mobile wallet.
India Meal Vouchers Go Digital: Paytm, Zeta Launch Electronic Alternatives
Competition in the corporate meal voucher market in India is heating up as providers are launching alternatives to paper vouchers, which the Reserve Bank of India will no longer allow beyond 2017. Among them is online commerce platform Paytm and electronic payments provider Zeta.
State Bank of India in major trade finance tech overhaul with Misys
State Bank of India (SBI) has centralised its trade finance operations across 25 countries on Misys’ Fusionbanking Trade Innovation platform. Misys’ partner in India, Encore Theme Technologies, assisted with the implementation.
Top fintech stories this week – 14 April 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Mastercard gets approval to buy VocaLink for $920m Deal expected to close in coming weeks. Bank of England implicated in Libor rigging by secret recording Well, it was secret. FIS sheds Ambit Private Banking business FIS inherited it […]
Al-Ahli Bank of Kuwait swaps Misys’ Equation core banking system for Infosys Finacle
Al-Ahli Bank of Kuwait (ABK) has gone live with a new core banking system at its two branches in the UAE. The new platform is Finacle, supplied by Infosys’ product subsidiary EdgeVerve.
UK regulators call for PSD2 feedback
The UK’s Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) are calling for input on their approach to applying the second EU Payment Services Directive (PSD2). PSD2 is required to be in place in the UK by 13 January 2018, and the nation’s HM Treasury will transpose PSD2 into UK legislation in the Payment […]
More banks get mobile with Android Pay
Like an astute player of the Risk board game, Android Pay’s global expansion plans continue apace as it is working with several banks to let their customers add cards to its service from a mobile banking app. The latest banks include Bank of America, Bank of New Zealand, Discover, mBank and USAA. They follow on […]
What’s Behind the Rise of Carrier Billing?
As the payment method gains popularity, an expert explains why young consumers buying digital content, including games, and transit tickets with their phones will be keys for the future.
Quash the queue with WoraPay’s Masterpass coup
We all love food and drink, and mobile service WoraPay has got in-sync and integrated Masterpass, the digital payment service from Mastercard. WoraPay’s service allows customers to buy food and drink, and pay in advance with their mobile. This means customers can order their morning coffee or tea (or whisky if you have a crappy […]
What If You Could Make Prepaid More Profitable?
What does Russell Simmons know that banks don’t? GPR can be profitable. Find out how.
The Missing Piece in B2B Air Travel Payments
A highly fragmented sales environment along with unnecessary expenses are among the main pain points for B2B payments for air travel. Here is what needs to improve.
What’s Next for Mobile Ordering?
As major companies report success from mobile ordering, an expert shows what payment providers have to consider before taking the next step.
The CFPB and Dodd-Frank Could Face another Congressional Threat
Congressional Republicans hoping to hobble the CFPB and unwind the law that supports it, the Dodd-Frank Act, have another tool at their disposal.
PayPal’s TIO Offer Wins Shareholder Approval
PayPal’s bid to acquire Vancouver-based bill payment specialist TIO Networks has been approved by TIO shareholders, who overwhelmingly voted in favor of the proposed sale at a special meeting this week.
SWIFT Strengthens Security with New Payment Controls
SWIFT has launched a real-time payment controls service to add to its customers’ existing fraud controls. The fraud and cybercrime prevention service permits its customers to screen their payment messages according to their own chosen parameters, “enabling them to immediately detect any unusual message flows before transmission,” according to an April 12 company announcement.
Swift calling time on cybercrime with new payment controls
Swift has unveiled a new real-time payment controls service to add to its customers’ existing fraud controls. The new fraud and cybercrime prevention service will enable its customers to screen their payment messages according to their own chosen parameters, “enabling them to immediately detect any unusual message flows before transmission”. Yawar Shah, chairman of Swift, […]
TSB turns to First Data for bank portfolio services
First Data has been appointed by Sabis, the IT arm of Spanish banking group Sabadell, to provide processing and acquiring services across its subsidiary TSB. First Data will migrate TSB’s credit and debit card portfolio onto its FirstVision platform. Additionally, First Data will power TSB’s digital payments and provide merchant acquiring services for money and […]
Contactless payments ramp up in 2017
Following the announcement WhatsApp will enter into the mobile payments arena, new estimates from Juniper Research claims Apple Pay contactless users will nearly double over 2017.
US fintech regulation: a divided picture at the federal level
Addressing the views of the Department of Treasury, the CFPB, and the SEC on the regulation of the fintech industry in the US.
Central Bank of Iceland chooses SIA for payments overhaul
The Central Bank of Iceland (CBI) has chosen Italian firm SIA to implement and support a new real-time gross settlement system (RTGS) and new instant payment platform. These technology infrastructures developed by SIA, are planned to go live in 2018, and will replace CBI’s current mainframe-based real-time solutions for high and low-value payment systems, which […]
Mastercard Wins U.K. Approval for VocaLink Buy
The U.K.’s Competition and Markets Authority gave its blessing April 11, enabling Mastercard to complete its acquisition of 92.4 percent of VocaLink Holdings for $920 million. The deal, which is expected to close within weeks, gives Mastercard control of a large portion of the U.K. transaction processing market.
Urban FT taps Sunrise Banks for prepaid partnership
White-label digital banking services provider Urban FT is joining forces with Sunrise Banks.
Harland Clarke Pays $630 Million Premium for RetailMeNot
No doubt banking on the value consumers will place on integrating online coupons into the purchasing experience, payments provider Harland Clarke has agreed to purchase merchant offers marketplace RetailMeNot Inc., in a deal valued at around $630 million.
CFSI, Chase Seek Fintech Startups for Financial Health Awards
Fintech entrepreneurs still have a few weeks left to win financial backing from two big players in the payment space. The Center for Financial Services Innovation (CFSI) and JPMorgan Chase’s Financial Solutions Lab (FinLab) plan to award $250,000 to programs that help consumers build financial health, “with a special focus on those communities that are frequently underserved, such as older Americans, communities of color, people with disabilities and products that address the gender wealth gap.”
Silicon Valley Bank and First Data launch fintech accelerator
US-based Silicon Valley Bank (SVB) and First Data are calling on US start-ups to apply for their latest Commerce.Innovated accelerator programme. The four-month virtual programme provides participants with operational mentorship from the pair’s respective networks. Reetika Grewal, head of SVB’s payments strategy and solutions group, says its “small class size allows us to work closely […]
Visa unveils European payments innovation initiative
Visa has expanded its Everywhere Initiative innovation programme into Europe as it looks for the “next big thing” in payments. Entrants in Visa’s first-ever European Everywhere Initiative can win up to €50,000 to support a development programme with Visa, or through business partnership with Visa’s clients, and potentially have access to Visa APIs, mentors and […]
Payments: how the West will be copying the East
Payments industry practitioners in the European Union are understandably obsessed with the implications of the revised Payment Services Directive (PSD2). This was evident at the recent European Payments Summit, held in the Netherlands, where PSD2 dominated many of the discussions.
DeVere delves deeper into fintech space with e-money app launch
Financial consultancy firm DeVere Group has launched an app-only e-money service as it pushes deeper into the banking and fintech sector. As Banking Technology reported last month, the group took advantage of Lithuania’s ambitions to attract fintech firms and set up a new office in the capital Vilnius. This was preceded by the unveiling of […]
Mastercard AIs up future with start-ups
Mastercard has welcomed five new start-ups to its Start Path Global programme – its initiative to boost its share of the commerce market. The programme is open to all start-ups who focus on banking and payments and have raised a “significant seed” or Series A round of investment. Three out of the five firms joining […]
U.S. Rep. Tipton Pushes for Longer CFPB Prepaid Rule Delay
The CFPB accepted comments on its proposed delay of the effective date for its final rule on prepaid accounts through April 5. Rep. Scott Tipton (R-Colo.) likes the idea of a delay so much, he’s proposing giving the industry even more time.
Executive Profile: Walt Granville, Digiliti Money
From his current role as senior vice president of mobile innovations at Digiliti Money (formerly Cachet Financial Solutions), Walt Granville has the perfect vantage point to see the transformative power of mobile for prepaid programs. Find out more from the former pro runner, including which apps are on his must-list, where he sees prepaid in five years and the trend he’s watching most in 2017.
The Monday mindset: 10 April 2017
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, Banking Technology’s deputy editor Antony Peyton briefly reflects on last week’s visit to Morocco for HPS Worldwide’s PowerCARD Users Meeting 2017. At […]
Top fintech stories this week – 7 April 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Are You Protected from Contact Center Fraud?
Payments companies are used to defending themselves against fraud from all sorts of angles, but they would do well to mind the phones. By 2020, 75 percent of omni-channel, customer-facing companies will face a targeted attack, with the contact center as the primary point of compromise, according to Gartner research.
WeChat Wants to Grow Payments in U.S. and Europe
WeChat is on the move again. The China-based social messaging and mobile wallet platform plans to expand its presence in Europe and the U.S., efforts that could bring it better relationships with advertisers, brands and payment providers.
