Nacha, the backbone for the electronic movement of money and data in the US, and its Payments Innovation Alliance (PIA), have named the first five APIs for their big payments push. The API Standardization Industry Group, created in spring 2017 and sponsored by Nacha’s PIA, is working to further efforts to standardise the use of […]
Univision Mastercard Prepaid Card is now available in approximately 300 Walmart stores in California, Texas and Florida. The move is part of the brand’s continued expansion into retail spaces in prominently Hispanic regions.
What countries among the 20 largest economies are adapting quickest to using cashless systems like phones and contactless cards? New research (and nifty infographics) from global trading site Forex Bonuses reveals that Canada takes the top spot, narrowly edging out Sweden for the top position.
Global Processing Services (GPS) has teamed with Armillion to incorporate contactless payment technology into its exclusive high-end bracelets.
NACHA, the backbone for the electronic movement of money and data in the U.S., and its Payments Innovation Alliance, have named the first five APIs for their big payments push.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
After five years and more than a million comments on its proposed rulemaking, the CFPB has finalised its payday lending rules with the ability-to-repay test intact for many loan types.
Nova Credit Inc., a cross-border credit bureau, has announced that Sumeet Ajmani is joining Nova as general counsel.
There have been another problematic 24 hours for fintech firms and challenger banks after being hit with a slew of card payments issues.
The Monetary Authority of Singapore (MAS) and the Bank of Thailand are in discussions about connecting their national digital payment systems as officials step up efforts to curb the use of cash, according to Bloomberg. The link would bring together Southeast Asia’s first national digital payment platforms, Singapore’s PayNow and Thailand’s PromptPay, says Naphongthawat Phothikit, […]
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) say that the consortium which they are leading has developed software prototypes for improved payments on blockchain. The prototypes included three different models for decentralised inter-bank payments and settlements with liquidity savings mechanisms. The project, conducted together with 11 financial institutions […]
Internet giant Google’s big gadget unveil is all about positioning itself for the artificial intelligence (AI) era, not becoming an iPhone killer, reports Telecoms.com (Banking Technology’s sister publication). The flagship product is the Pixel 2 – a product so important for Google that it blew a billion bucks on beefing up its R&D team. As […]
In trying to balance its budget, the Illinois legislature has taken aim at the wallets of the poor. Two changes by the state government will make it harder for low-income people to manage their financial lives by reducing the usefulness of prepaid cards and increasing the expense of cashing a check.
Warsaw-based Bank Millennium has launched “Europe’s first issuer wallet” using Visa tokenisation – so its customers can use the mobile app to create a virtual equivalent of their card. The bank says virtualising the card and using the service is free of charge, and cardholders can pay with their phone via HCE (host card emulation). […]
ADP has acquired Global Cash Card, a pioneer in payroll and contract employee payments. The deal gives ADP a proprietary payments processing platform that, it says, provides value-added services for existing clients and will speed time to market for new clients.
Four of the latest stories in one for a fast fintech funding round-up. Features SalaryFinance, Featurespace, Worldpay, Invoke Capital, ESF Capital and ThinCats.
In an exclusive interview with Vijay Oddiraju, co-founder and CEO of payments processing software provider Volante Technologies, speaks on the topics of agility, automation and how the ambitious company intends to prosper in the fast moving and competitive world of payments.
The European Commission (EC) has ruled that Luxembourg illegally let Amazon off €250 million of taxes and must now get them back, reports Telecoms.com (Banking Technology’s sister publication). This is the latest round of a general purge by the EC of European countries effectively bribing US tech companies to use them as their European hub by dangling […]
The Center for Financial Services Innovation recently released its 2017 FinLab Snapshot paper. And, if you think you know fintech, what we found may surprise you.
The Retail Gift Card Association kicked off its inaugural RGCA Forum in Kansas City, Mo., this week, tackling myriad subjects from gift card fraud to keeping consumers engaged with the No. 1 preferred holiday gift.
Uber is to accept an investment of up to $1.25 billion from Japan’s SoftBank and usher in new governance rules aimed at reining in former CEO and co-founder Travis Kalanick.
Following the recent appointment of CEO Paul Horlock, the UK’s new payment system operator has named its first five board members.
Spafinder, a marketing, gifting, incentives and rewards brand owned by Blackhawk Network, has unveiled new gift card technology, expanded distribution and additional partner services to make giving the gift of spa and beauty experiences easier for consumers and businesses.
Barclays US is dipping its toe into the financial health business, testing a personal financial management tool that aggregates all of a customer’s Barclays credit cards, personal loans and savings products—as well as accounts with other banks—in one place.
The competition to serve the financial needs of small businesses is heating up in the U.K., where consumer banking challenger Starling Bank is expanding into the business market,
Three credit unions in the US have signed for the lending software from Finastra (formerly D+H Corporation and Misys). These are Central Florida Educators Federal Credit Union, TruMark Financial Credit Union and Evansville Teachers Federal Credit Union.
Snapsheet, a provider of virtual claims technology for the insurance marketplace, is partnering with KeyBank, a top 30 U.S. bank by assets, to launch an electronic payment solution for insurance claims.
Mobile banking is nothing without mobiles, and as Apple leads the way in innovation it provides opportunities for banks to do things differently too. So, with the launch of the iPhone X, what is next for mobile banking in a world that can’t get enough of phone upgrades?
Norway-based banking tech vendor Evry will provide Finland’s Aktia Bank with the “entire value chain for card payments”, including virtual debit and credit cards for the bank’s digital proposition, Aktia Wallet.
News comes from Russia with love as Sberbank, the country’s largest bank, and Telegram, a messenger API, have partnered up to develop a payment solution for firms using Telegram bots.
Sirin Labs is a recognisable name if you know where to look. Last year, it brought you a £11,400 smartphone with “military grade” security, and now it wants to bring you a blockchain smartphone called Finney.
Pay Award-winning payments technology company Wirecard is expanding its mobile payment app boon with new features to make it an “all-embracing app in everyday life.”
London-based startup Curve, a mobile app that enables users to spend from all their accounts with one card, is dangling a juicy carrot in front of small business owners and freelancers—it will handle their expense reports.
The last 24 hours for payments start-up Revolut haven’t been kind after its services went down due to a server failure. Not only was it painful for the engineers working to ensure the services are back up, but also painful to the customers who at the time couldn’t access their accounts. Revolut CEO, Nikolay Storonsky, […]
The EBA has to move out of London because of Brexit. With an influx of tech, startups and financial services providers, Ireland is making a case for Dublin.
EXCLUSIVE: Bank of the West, a large regional bank in the US and a subsidiary of BNP Paribas, is embarking on a major tech overhaul with Infosys, it is believed.
On the heels of Equifax’s massive data breach that compromised 143 million identities, Mastercard today (Oct. 2) announced the launch of Early Detection System, which alerts banks to high-risk cards and accounts that are exposed in security incidents or data breaches.
The Hong Kong Monetary Authority (HKMA) has unveiled a number of initiatives as it looks to improve the region’s use of payments, APIs and innovation. In a speech delivered during the Annual Banking Conference of the Hong Kong Institute of Bankers, Norman Chan, chief executive of the HKMA, outlined its grand ambitions. Chan says: “The […]
Timex and Barclaycard have partnered in true style to produce a new range of contactless payment watches. The Fairfield Contactless promises to be a perfect fusion of style and smart functionality. Coming in at a retail price of £159, it’s all about the leather bPay embedded strap, which brings wearable technology to the wrist. bPay […]
Chime, a mobile banking challenger co-founded by Green Dot and Visa veteran Chris Britt, has raised $18 million in Series B financing, led by global venture fund Cathay Innovation.
