PreCash Sees Bill Pay as Acquisition Gateway (September 2013)
Houston-based provider launches bill pay/mobile app combo as ‘ideal hook’ to establish customer relationship that expands to other financial services, including prepaid.
Payments
Payments: the final push
For those involved in European payments, the final months of this year are likely to be characterised by a frenzy of activity as the deadline for migration to single euro payments area instruments looms.
Barclays builds on Pingit head start
Barclays is making a determined effort to capitalise on the two-year lead it has built up with its Pingit mobile payments application with two new applications intended to allow retailers to integrate mobile payments into their services.
Standard Chartered backs mobile wallets
Standard Chartered has launched a mobile wallet service targeted at corporate clients in Kenya. The service has been developed in partnership with Safaricom, which operates the mobile money transfer service M-Pesa. The bank hopes the deal will herald the start of a major drive to open up financial inclusion in emerging markets.
New Age of Bank-Technology Partnerships (September 2013)
The partnerships banks are forming with financial technology suppliers today look very different than routine client-vendor relationships of past decades, and one of the most interesting aspects of the trend is how both sides are transforming each other.
MasterCard Research: Industry Must Bridge Education Gap to Serve Financially Excluded in Europe (Sept. 17, 2013)
Sept. 17, 2013 The prepaid industry has a big opportunity in reaching the financially excluded and underserved across Europe, but it also has a lot of work to do to bridge the consumer education gap, according to new research from MasterCard Worldwide. The payment network today unveiled the “Road to Inclusion,” a report that shows while […]
Visa, Docomo Prep Virtual Prepaid Card in Japan (Sept. 17, 2013)
Visa’s Japanese subsidiary Visa Worldwide (Japan) Co. is joining with mobile telecom provider NTT Docomo Inc. to launch what the companies are calling Japan’s first mobile-based virtual prepaid card for online shopping.
BofA Merrill Offered Faster Corporate Payments to Asia (Sept. 17, 2013)
Sept. 17, 2013 Bank of America Merrill Lynch is aiming to improve the speed and efficiency with which banks and corporations can make high-dollar payments to Asia. The company’s new Accelerated Payments to Asia solution uses smart routing technology to mitigate the difficulties typically faced by corporations making U.S. dollar payments to Asia due to […]
rePower Expands in Europe, Adds paysafecard (Sept. 17, 2013)
Sept. 17, 2013 MasterCard is expanding the reach of its rePower prepaid card reload network to more European nations and adding partners as part of its push to make loading cash onto prepaid cards easier for consumers across Europe, according to Matt Lanford, MasterCard Europe’s head of prepaid. At the 2013 MasterCard Europe Prepaid Conference […]
People on the Move: Ali Nizameddine, Payza (September 2013)
Payza, an online payment platform, has promoted Ali Nizameddine to executive vice president.
Misys modular back office service will streamline and consolidate
Banking software vendor Misys has launched a modular back office service that it says will centralise and consolidate all processing across asset classes, trading systems and branches globally.
People on the Move: Peter Ayliffe, Monitise plc (September 2013)
Monitise plc has appointed Peter Ayliffe non-executive chairman.
People on the Move: Steve Antonakes, Consumer Financial Protection Bureau (September 2013)
The Consumer Financial Protection Bureau recently announced that Steve Antonakes has been named deputy director of the agency.
BAML builds single data repository
Bank of America Merrill Lynch (BAML) has completed consolidation of client transaction banking data from multiple systems into a single centralised data repository. The service will provide corporate clients with up to 14 months of data online or in file format.
Daily News at Sibos 2013: Day 2
Daily News at Sibos Day 2 2013
Digitisation of cash a focus at Innotribe session
Bitcoin has had a bizarre beginning, full of whats, ifs and maybes. In what seems to be a case of virtual reality came virtual cash, with software written by an anonymous donor and a principle that could play a leading role in the future of online transactions.
MasterCard and EFL partner to underwrite unbanked SMEs
MasterCard and Entrepreneurial Finance Lab (EFL) have announced a global partnership to promote small business growth in developing countries. The partnership, agreed yesterday at Sibos, provides international issuers in developing markets with new tools to help to improve credit underwriting for unbanked small businesses.
Russia’s TCS bank turns to big data to create value
Clever use of data about customers can be the key to success as customers move from cash to cards, according to Oliver Huwes, chief executive at Russian bank Tinkoff Credit Systems.
Millions prepare to switch banks as UK switching service launches
Experts are saying millions of people will abandon their old banks and switch to a new provider, following the introduction of new rules on 16 September designed to make it easier to change banks. But estimates vary widely, from single digits to tens of millions.
CFPB Weighs in on Payroll Cards; Agency’s Leader Takes Drubbing from House Republicans (Sept. 16, 2013)
Sept. 16, 2013 The Consumer Financial Protection Bureau (CFPB) is the latest to weigh in on payroll cards by issuing a bulletin to companies reminding them that employers cannot require their employees to receive wages on a payroll card. “Employees must have options when it comes to how they receive their wages,” CFPB Director Richard […]
Capital One Exits Isis Mobile Wallet (Sept. 16, 2013)
Capital One Financial Corp. this week ends its trial run with the Isis Mobile Wallet, raising questions about what combination of payment cards Isis will have when the wallet officially launches later this year.
i2c Integrates Platform with MasterCard’s Mexico Domestic Switch (Sept. 16, 2013)
Sept. 16, 2013 i2c Inc. today announced the completion of a direct integration of its platform with MasterCard’s domestic switch in Mexico, where the cloud-based payments processor sees significant growth opportunities. Redwood City, Calif.-based i2c completed all requirements for certification with MasterCard’s Mexico Domestic Switch service, which i2c says will help accelerate implementations of prepaid, credit […]
Western Union Makes Moves in China (Sept. 16, 2013)
Sept. 16, 2013 Western Union has made a pair of major inroads into the Chinese banking channel. Through a deal struck last week with Shanghai-based payment card network UnionPay, the money transfer giant now can reach 95 percent of all personal bank accounts in China. The pact enables Western Union customers in 23 countries to […]
Pingit Adds Pair of Mobile Shopping Features (Sept. 16, 2013)
Users of Barclays Pingit U.K. mobile money transfer app have two new ways to make online purchases, with a pair of features being launched this week.
Rise in non-cash volumes brings innovation opportunity
Global non-cash payments volumes continue to rise unabated, according to World Payments Report 2013 (WPR 2013), which was launched today. Non-cash transactions grew by 8.8 per cent during 2011 (the latest year for which full data is available) and are predicted to top 333 billion for 2012.
Clear2Pay Supplement Sibos 2013
Clear2Pay Supplement Sibos 2013
Zapp zeroes in on UK banks as mobile banking competition builds
Mobile payments specialist Zapp is expecting to sign up five of the six major UK banks within the next few weeks, following a deal with acquirer WorldPay, announced this week. However, the platform still has a long way to go to catch-up with rival Barclay’s Pingit, which has a significant head-start, having launched in February 2012.
MasterCard: Prepaid is Fastest-Growing GDV Category as Digital Payments Grow Worldwide (Sept. 12, 2013)
Prepaid accounted for the strongest growth rate in gross dollar volume (GDV) for all payment card types during the first half of this year for MasterCard Worldwide, as prepaid card use cases expanded worldwide, the network told investors yesterday.
Rep. Hensarling ‘Welcomes’ CFPB Director Cordray to Finance Hearing (Sept. 12, 2013)
Sept. 12, 2013 Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), presented the agency’s semi-annual report to the U.S. House Committee on Financial Services during an often contentious hearing this morning. Literally seconds after welcoming Cordray to this morning’s hearing, Committee Chairman Jeb Hensarling (R-Texas) assailed the agency for the relatively unchecked power […]
Fed Seeks Industry Input on Payment Improvements (Sept. 12, 2013)
Sept. 12, 2013 The Federal Reserve is seeking payments industry input on a set of new policy proposals to modernize and improve the nation’s payments system in the wake of rapid changes in technology and consumer expectations. Earlier this week, the agency released its Payment System Improvement – Public Consultation Paper, the purpose of which […]
Sprint ‘Boosts’ Wallet with Remote Check Deposit Service (Sept. 12, 2013)
Sprint’s Boost Mobile Wallet users now have a way to turn checks into instant funds with a new service dubbed Quick Check, which uses remote deposit capture to deposit checks into customers’ wallet accounts.
Blog: Never Count Microsoft Out: Microsoft-Nokia Acquisition Analysis (September 2013)
Mary Monahan, Javelin Strategy & Research
Microsoft’s canny purchase of Nokia for the bargain price of $7.2 billion reopens the rumors that Stephen Elop’s move to Nokia was a Trojan horse, intended to open the doors to the announcement last week.
Blog: Fraud Trends to Watch
By John Dancu, IDology Fraud? Oh no … couldn’t happen to me! Is that how you or your organization approaches potential fraud? Well … if it is, it might be time to take a closer look. In our recent “Fraud Report,” which polled senior executives from our customer base of financial service providers and companies […]
PayPal Preps ‘Hands-Free’ Payments; Apple Debuts Fingerprint Security (Sept. 10, 2013)
PayPal could give mobile commerce a big boost with the introduction of PayPal Beacon, a service it’s piloting this fall that will enable customers who opt in to pay “hands-free” with their PayPal mobile apps at participating merchants.
Payments in Transit: Ventra Rolls Out in Chicago, Octopus Unveils Mobile Plans (Sept. 10, 2013)
Two major mass transit contactless payment initiatives are speeding forward this week, with the debut of Chicago’s Ventra system and the announcement of a smartphone-based payment feature for Hong Kong’s transit network.
Investors Pump Millions into M-Payment Companies Check and Paydiant (Sept. 10, 2013)
Sept. 10, 2013 The money keeps pouring in as two mobile payments players, Check and Paydiant, are the latest to report recent infusions of capital. Wellesley, Mass.-based Paydiant announced today that it has closed a $15 million round of funding from North Bridge Venture Partners, General Catalyst Partners and Stage 1 Ventures, among others. The new […]
Sumitomo to Launch payWave-Based NFC App (Sept. 10, 2013)
Japanese banking group Sumitomo Mistui will launch a new NFC payment service that will be available through all three of the country’s mobile network operators and more than 30 NFC-enabled smartphone models.
PayPal’s Mobile App Redesign Touts POS Acceptance, Merchant Deals (Sept. 9, 2013)
PayPal is making a splash with a redesign of its mobile app that pulls together several of the company’s latest initiatives into a digital wallet emphasizing consumer benefits, including instant discounts and the ability to pay at the POS.
