Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media, reports Paybefore (Banking Technology‘s sister publication). Payment bots […]
PwC has created a working blockchain prototype for the London Market Target Operating Model (TOM) Innovation Exchange, as it seeks to use the tech for payments in the specialist insurance market. Completed over a six-week period, the proof of concept (PoC) focuses on “enhancing” interactions between multiple different London Market parties involved in a claims […]
Netspend has landed a 20-year prepaid industry veteran in Jeff Johnson to manage the financial services provider’s commercial prepaid channel, the company announced March 2. The freshly minted senior vice president for commercial prepaid will oversee Netspend’s programs for paycards, incentives, disbursements and awards, as well as the Tip Network, which serves businesses whose employees supplement their incomes with tips.
Mastercard and Poste Italiane have struck a new deal under which the Italian postal service’s Postepay app has integrated Masterpass to enable users to make mobile purchases—a deal the companies hope will appeal to Postepay’s large base of younger users.
Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media.
Mastercard has teamed with Turkish mobile retail firm Getir to use its bot for the “first” Masterpass payments in Facebook Messenger. Customers search for Getir (think “get here”) in Messenger, chat with the bot in a “natural, conversational way”, and make a payment with Masterpass. Getir says users can receive a ten-minute delivery from its […]
SBI Ripple Asia and the Japan Bank Consortium have “successfully” completed a pilot implementation of RC Cloud, Ripple’s unified blockchain platform for domestic and cross-border payments. As Banking Technology reported last year, the consortium (full name “The Japan Bank Consortium to Centrally Provide Domestic and Cross-border Payments”) officially launched with 42 member banks. As of […]
Nordea has released the first version of its open banking portal targeted towards external developers, as it gets ready for the Payment Services Directive (PSD2) requirements. Currently the site has “limited functionality” but unspecified pilot activities will be conducted through the portal during 2017, in advance of a full launch in Q1 2018. Jarkko Turunen, […]
Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot programme enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system.
Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.
Mastercard says it will significantly expand the scope and capabilities of its Qkr with Masterpass mobile payment service. Not only is the technology set to debut in the US and five other countries, but it will now integrate with retail software provider Oracle, reports Banking Technology‘s sister publication Paybefore. At the Mobile World Congress in […]
Citi’s Treasury and Trade Solutions (TTS) has launched an application programming interface (API) solution for payment initiation, payment status and account balance inquiries through its connectivity platform CitiConnect. As Banking Technology reported late last year, Citi unveiled a new global API developer portal, which it claimed to be the most comprehensive to date in the […]
Complaints about prepaid products went down again from November 2016 through January 2017, with the CFPB reporting a monthly average of 206 prepaid-related complaints in that period, down from 237 per month during the same period a year earlier.
Push payments technology specialist Ingo Money has announced several leadership changes as it looks to expand its business.
UK-based Harrods Bank is implementing a new core banking system, having abandoned the FIS Profile project, Banking Technology understands.
Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot program enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system. Although the tap-and-go pilot hasn’t begun yet, the next step of enabling consumers to use mobile wallets and wearables already is in the works.
Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.
In a sign that many consumers use gift cards to purchase everyday household items, big box retailers continue to lead loyalty points and rewards redemptions in the U.S., according to a new study from the National Gift Card Corp. (NGC).
French fintech Lemon Way has launched an e-commerce payment solution across seven countries in Europe to rival Stripe.
Switzerland-based WIR Bank has launched a new payment card for domestic SMEs, with tech provided by SIX Payment Services. It combines the existing functions of the proprietary WIRcard and internationally accepted Visa’s V PAY debit card.
Bank of Baroda, a public sector bank in India, has launched a fellowship programme to support fintech, rural, agricultural and financial inclusion start-ups.
The committee on payments and market infrastructures at the Bank for International Settlements (BIS), an international financial institution owned by central banks, has issued an analytical framework on distributed ledger technology (DLT) in payment, clearing and settlement.
There’s a newcomer on the U.K. challenger bank scene, but it’s not wooing consumers. As a bank for banks, other FIs and fintech companies, ClearBank will offer customers access to U.K. payment systems and core banking technology to support current account capabilities.
As first reported by Banking Technology, there is a newcomer on the UK challenger bank scene, ClearBank. The bank has now gone on the record about its focus and strategy. ClearBank will be a bank for banks, FIs and fintechs, i.e. a clearing bank, offering customers access to UK payment systems and core banking technology to support current account capabilities.
Credit Union of Southern California, Brazosport Teachers Federal Credit Union and Rosedale Federal Savings & Loan Association are undergoing tech modernisation.
Mastercard significantly will expand the scope and capabilities of its Qkr with Masterpass mobile payment service, the network said Feb. 27. Not only is the technology set to debut in the U.S. and five other countries, but it will now integrate with retail software provider Oracle.
Customers at Barclays Bank suffered a worrying weekend due to problems with cash machines, debit cards and phone banking. At 2pm (UK time) on 25 February, Barclays become aware of the issues and advised customers to use other banks’ cash machines. The customers would probably have worked that out for themselves. Technical issues are affecting […]
Congress is considering a joint resolution to repeal the rule, which was released last year. If that happens, what will be the result? Our readers respond.
Turkey’s largest bank Isbank is partnering with PPRO Group for cross-border payments in more regions. The deal means the bank can offer e-commerce merchants 13 local alternative payment methods worldwide. Isbank says it can now also extend access to real-time online banking payment methods and e-wallets in more than 25 countries in Europe, Asia and […]
Barclaycard has signed two new bPay partnerships to embed contactless payment technology in watches and jewellery in the UK. The agreements are also designed to complement bPay’s proprietary range – which comprises a wristband, fob, sticker and loop – and the existing partnerships that already see the technology, which is powered by Visa, embedded within […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! IBM and Northern Trust debut blockchain for private equity Uses the Hyperledger Fabric. Visa opens new innovation centre in London It’s the latest and largest one. Digital gets a spurt with Natwest and RBS experts Every branch gets […]
Alaska-based Matanuska Valley Federal Credit Union (MVFCU) has begun deploying NCR Corporation’s Interactive Tellers at its branch locations – meaning its machines are being used in every US state. The ATM lets users interact with their financial institution’s remotely located video teller via video and audio. NCR says this tech is of “particular value to […]
See what’s hot on Paybefore.com this month, including Global Cash Card’s win against onerous payroll card regulations in New York; the CFPB fending off attacks on multiple fronts; a new Blackhawk same-day rebates program; and more.
The payments industry invitation to merchants to play a bigger role in innovation seems serious and pragmatic, writes our senior editor, an e-commerce expert.
Bank of America has chosen the person-to-person (P2P) Zelle service within its mobile banking app as part of its digital drive. Zelle will let clients send, receive and request money, allowing them to use the existing contacts on their mobile device to transfer money to (or request money from) “almost anyone within minutes, regardless of […]
With the worldwide prepaid market set to hit $3.1 trillion by 2022, providers need to have a firm handle on who those prepaid consumers will be, and how they will shop.
SLAs provide various metrics upon which service is judged. But in many cases, those metrics—and the business expectations of deals—prove unrealistic and could lead to poor decisions and wasted money.
Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app, reports Banking Technology‘s sister publication Paybefore. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada. The full-service GPR card […]
Before you enter the 2017 Pay Awards, explore our 24 categories.
Fintech Valley Vizag, a project championed by the Government of the State of Andhra Pradesh in India, has signed a memorandum of understanding (MoU) with Visa and Thomson Reuters. Thomson Reuters will use the infrastructure provided by the government and local university resources to build fintech projects in the area. Visa is expected to support […]
