As expected, US Senator Elizabeth Warren (D-Massachusetts) is not going to let the Consumer Financial Protection Bureau’s (CFPB) final rule on arbitration agreements go down without a fight. The ranking member of the Senate Banking Committee’s Subcommittee on Financial Institutions and Consumer Protections wants big banks – not just their lobbyists – to address the […]
BBVA reckons the fever for initial coin offerings (ICOs) in blockchain must be cooled as the industry is facing a “dangerous bubble” driven by speculation. ICOs are a common story in fintech at present and they allow small businesses to reach a large audience via blockchain and cryptocurrencies. (And BBVA has its own interest in […]
Global payments service provider eMerchantPay has received authorization from the Financial Conduct Authority as an e-money institution, which means it can issue products including payouts, e-wallets and prepaid cards, and has joined the Prepaid International Forum.
In the P2P showdown, who will be left standing? See how early entrants like Venmo and Square Cash stack up against Zelle and Apple.
Digiliti Money may be able to breathe a bit easier with a new acquisition offer on the table after a tumultuous few weeks.
The most popular digital wallet in Singapore has rolled out the first virtual Visa card in the country thanks to a partnership between global technology group and 2017 Pay Awards Change Agent of the Year Wirecard and Singtel.
As expected, U.S. Sen. Elizabeth Warren (D-Mass) is not going to let the CFPB’s final rule on arbitration agreements go down without a fight. The ranking member of the Senate Banking Committee’s Subcommittee on Financial Institutions and Consumer Protections wants big banks—not just their lobbyists—to address the issue.
Banks are beginning to re-align their internal processes and external-facing products to take advantage of, and more fully realize, the potential of digital transformation. One of the biggest challenges they come up against in this pursuit is how to balance customer experience and security. In other words, implementing a framework that accounts for all the […]
Hot on the heels of the Fed’s Faster Payments Task Force final report and call for the industry to implement faster payments in the U.S. by 2020, SWIFT is offering a gateway.
The battle for e-commerce and payments domination is on in India. Paytm, an e-payment/e-commerce brand and payments bank, is bringing the QR code scanning habit to the Indian masses, while rival Flipkart has raised $2.5 billion from Japan’s SoftBank and Amazon has launched its digital wallet.
SEFCU, a top-50 credit union in the US, is modernising its core processing software with Fiserv.
Alipay has inked a slew of partnerships lately. The latest deal for the Chinese app is with Yelp and connects local businesses with Chinese travelers, a move that’s likely to boost loyalty and transaction volume in one fell swoop.
Paytm, e-payment/e-commerce brand and payments bank, is bringing the QR code scanning habit to the Indian masses, while Amazon Pay has launched a digital wallet.
Many famous faces have decorated our notes over the years, but just like the cheque, cold, hard cash is living on borrowed time.
Since 2012, the top ten US banks (by assets under management) have participated in 72 rounds totaling $3.6 billion to 56 fintech companies, according to CB Insights. While investment activity dropped on a quarterly basis in Q1 2017, four of the last five quarters have seen over $1 billion invested into fintech start-ups in the US backed by venture capital firms.
Instead of reporting its second-quarter earnings today, Digiliti Money Inc. plans to file for an extension with the SEC after its accounting firm flagged problems with its previous financial reports, the company announced Aug. 14.
Former financial ombudsman Walter Merricks is appealing the U.K.’s Competition Appeal Tribunal’s decision not to certify his claim in a proposed £14 billion (US$18.2 billion) class action lawsuit against Mastercard over interchange.
As students gear up for back to school, the competition for international tuition payments continues to heat up. Geoswift, UnionPay International and Western Union Business Solutions are offering Amazon gift cards to Chinese students studying in 14 countries that use their service for cross-border tuition payments.
Fintech zeitgeist! This week, Banking Technology’s editor Tanya Andreasyan muses about the growing trend of celebrity endorsement in the fintech world.
PayPal has set up two innovation labs in India – based out of the company’s tech centres in Chennai and Bangalore – to help the country’s fintech start-ups grow.
Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi and UAE Exchange have teamed up “to support, develop and promote the fintech” ecosystem in the country.
Business-to-business (B2B) payment solutions company Trustly has partnered with e-commerce payment provider Qliro.
Take a lesson (and an infographic) from the Ohio University School of Economics on how to approach millennials and turn them into lifelong customers.
EXCLUSIVE: Barclaycard is launching a pilot that enables merchants in the UK to accept in-store Alipay transactions. The pilot will commence on 14 August 2017 in eight retail stores across the UK, with Barclaycard providing the POS solution for payments via Alipay.
Facebook-owned messenger app WhatsApp submitted a new update through the Google Play Beta Programme, which will make payments available in the app’s new version.
Ant Financial, Tencent and 42 other payments and financial services firms in China have agreed to route their payments transactions through a new clearing house, controlled by Chinese government.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Home improvement chain Lowe’s has a new payments tool in its toolbox to help small businesses, contractors and construction professionals—a prepaid card and companion mobile app to manage business expenses.
Ben Jackson, who previously led Mercator Advisory Group’s prepaid advisory service, has joined the Network Branded Prepaid Card Association as chief operating officer.
After a spate of recent partnership announcements to expand its acceptance network and P2P reach, PayPal is buying Swift Financial to boost its small business lending division.
US-based Network Branded Prepaid Card Association (NBPCA) submitted its comment letter to the Consumer Financial Protection Bureau’s (CFPB) on the bureau’s proposed changes to the final prepaid accounts rule. The trade group is calling for additional revisions to the rule as well as an extended implementation period.
Cross-border payments and receivables platform Flywire (formerly peerTransfer) is marking international growth.
TransferMate, a global B2B payments platform, announced the expansion of its senior management team following its achievement of full U.S. regulatory approval.
Green Dot Corp. reported strong numbers for the quarter ended June 30, 2017, including a 140 percent increase in GAAP net income to $19.3 million, up from $8.0 million over Q2 2016.
Vantiv and Worldpay each reported double-digit profit growth on Aug. 9 and announced that their respective boards have agreed to an £8 billion (US$10.4 billion) merger. The combined company, which will be called Worldpay, will be valued at approximately £22.2 billion (US$28.8 billion).
Russia’s tech heavyweight Yandex and the country’s largest bank, Sberbank, are planning a joint venture to “boost e-commerce development”. The new venture will be based on the Yandex.Market platform.
The chance to win big is going mobile. Using live ticket technology from Linq3, Blackhawk Network will give grocery shoppers the ability to purchase mobile-enabled tickets for big jackpot games, such as Powerball and Mega Millions, in the checkout line.
Oracle has unveiled its brand new development, Oracle Banking Payments. Built from the ground up, the service uses the ISO 20022 messaging standard and supports global and local payment standards, including SEPA, Swift 2017, Fedwire, U.S. ACH and Swift’s gpi.
Oracle has unveiled its brand new development, Oracle Banking Payments. The product has been built from the ground up, leverages ISO 20022 and supports global and local payment standards (SEPA, Swift 2017, Fedwire, US ACH and Swift’s gpi).
With competition for cross-border payments heating up, new data from currency exchange website XE.com show that U.S. residents are transferring money internationally most often to pay bills or for living expenses, followed by travel expenses, mortgage and rental payments, and cash gifts.
