APEX: Dreaming of the Internet of Things
B2B represents the most promising growth area for Web-connected devices and cars that can order products. And prepaid could be how users pay for such transactions.
PayTech
APEX: How to Win the Hearts of Regulators
A U.S. Treasury Department lawyer gives tips about how to stay ahead of the curve when it comes to regulatory rulemaking.
Google to bring Android Pay to UK
Google is bringing Android Pay to the UK market – with Bank of Scotland, First Direct, Halifax, HSBC, Lloyds Bank, M&S Bank, MBNA and Nationwide Building Society the first to support it. This latest move follows Android Pay’s launch in the US in September 2015, and it should be available in the UK “in the […]
Top fintech stories this week – 24 March 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! As it’s Easter holidays in the UK, this time it’s published on Thursday. Deutsche Bank reduces branch network in Germany Rise of digital banking drives change. Polymer notes pose £45m problem for UK cash machines Slippery when plastic. […]
Payments shake-up in the UK: the baby and the bathwater
Since the introduction of the Faster Payments Service (FPS) the best part of a decade ago the UK has been rather proud of its payments system – industry body Payments UK uses the phrase “world class payments” in its development plans, and successive politicians have trumpeted the country’s prowess in this field, much as their […]
Commerzbank live on SAP HANA for finance and risk management
Commerzbank is now live with an integrated set of finance and risk solutions powered by the SAP HANA platform. SAP says the bank has more than 70% of its balance sheet running on SAP Bank Analyzer and SAP Accounting for Financial Instruments. It adds that Commerzbank is able to close its monthly books “significantly faster”, […]
APEX Panel Offers Insights on ‘Expanding the Tent’ of Prepaid
While prepaid cards long have been positioned as transactional tools to help the underbanked make electronic purchases, the future of the sector lies in expanding the definition of prepaid to serve multiple money management needs for a variety of customers—including those who also have a traditional bank account.
Myth-Busting on Expanding into Europe
Craig James, CEO of London-based compliance consultancy Neopay, delivered a talk at the All Payments Expo in New Orleans on March 22 to help companies eyeing Europe as an international expansion market.
Tuxedo Enters U.S. Market with Central Bank of Kansas City
Tuxedo Money Solutions is bringing its Paybefore Award-winning STA Travel ISIC Prepaid MasterCard to the U.S.
Mobile Wallets Need More Than a Payment Button
Mobile wallets command serious buzz in the payment and retail worlds, but at the All Payments Expo Tuesday in New Orleans, experts pointed out that the technology has yet to gain global traction and consumers will need more from such programs than the ability to make purchases.
Vibrant Community Credit Union completes core software overhaul
US-based Vibrant Community Credit Union (formerly DHCU) has completed its tech overhaul, with Fiserv’s DNA now supporting its core operations and Alkami’s ORB supporting digital banking activity at the front-end. The project was over a year in the making, and coincided with the brand overhaul at the credit union. It was formerly known as DHCU […]
Swift launches global reference data platform for SEPA IBAN in UK
Swiftref, Swift’s global reference data utility, has delivered the IBAN/BIC reference platform for the UK community under the guidance of Payments UK. The project was initiated in early 2015, with Swift commissioned to design and build the platform. Swift says this new Single Euro Payments Area (SEPA) International Bank Account Number (IBAN) Only (Sepaio) central […]
APEX Keynote: Blackhawk’s Roche on Payments as Engagement
As retailers and brands seek to deepen connections with their customers, emerging payment technologies represent a key opportunity for meaningful engagement with consumers, according to Talbott Roche, president and CEO, Blackhawk Network. Delivering a keynote address on the opening day of the All Payments Expo in New Orleans on Monday, Roche explained how the growing ubiquity of mobile devices and the rise of the connected consumer have created myriad new channels for messaging and engagement.
Federal Agencies Issue Guidance on Prepaid CIP
Federal financial institution regulatory agencies on March 21 issued guidance clarifying the applicability of the Customer Identification Program (CIP) rule to prepaid cards issued by banks.
By 2020, EMV Could Hit its Full Stride in the U.S.
Speakers at the All Payments Expo in New Orleans report significant gains for the anti-fraud technology. But terminals represent a significant speed bump.
APEX: The Gift Card Opportunity
Experts at the All Payments Expo talk up gift cards, and give advice on how to sell programs to superiors. They also set their sights on digital gift cards.
Neat trick as Hong Kong start-up uses selfies to verify payments
Hong Kong start-up Neat is setting its sights on the millennials’ market and will let customers open a payment account with a selfie. Neat founder David Rosa, a former MD at Citi, says the app and payment card will use facial recognition technology to confirm the holder’s Hong Kong identification card is correct. It’s not […]
ISO 20022 Implementation Strategy For Financial Institutions: Industry Harmonisation, best practice and advice
This webinar will explore how SWIFT supports the community to reduce the overall cost of ISO 20022 adoption and help members adapt to the standard and exploit the business opportunities.
All Payments Expo Kicks off in New Orleans
The All Payments Expo kicks off today in New Orleans! If you’re at the show, the exhibit hall opens at 10 a.m. Be sure to stop by and see Paybefore at Booth 201 and visit our 2016 Awards Winners Showcase to learn more about this year’s Pay Awards winners. Then, join us to celebrate the 10th annual Pay Awards at 6:15 p.m. to find out who will win top honors.
BPC’s SmartVista powers Warehouse Money cards, vendor’s largest retail project
BPC Banking Technologies says New Zealand’s largest retail chain – Warehouse Group – has chosen the SmartVista payments suite for its financial services business. The initiative is called “Warehouse Money” and offers the retailer’s consumers the chance to save 5% on purchases via a new Visa card or earn “purple dollars” via the Purple card. […]
DNB’s P2P mobile payments app is Norway’s No 1
DNB’s “first” peer-to-peer (P2P) mobile payment solution in Norway has become the number one downloaded app in the country. Dubbed “Vipps”, and launched six months ago with Tata Consultancy Services (TCS), it is now used by 25% of Norway’s population. The app is available for use on all mobile devices and it allows short chat […]
Top fintech stories this week – 18 March 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Deutsche Börse and LSE to merge Two hearts beat as one. D+H Corporation joins US real-time payments rush Catches up with rivals FIS and Jack Henry. Deutsche Bank and Bank of China partner for cash management Becomes first […]
D+H Corporation joins US real-time payments rush
US-based banking and payments software vendor D+H has joined its rivals FIS and Jack Henry in partnering with The Clearing House (TCH) for real-time payments. D+H will provide US banks and financial institutions with access to TCH’s domestic instant payments system. The system is currently being built, with the “plumbing” provided by VocaLink. The vendor’s […]
Efma and SAP partner for SME AppsBank Portal
Efma, an association of 3,300 retail financial services companies in more than 130 countries, and SAP have launched a new online portal to help banks’ SME-related business. The portal – (unsurprisingly) hailed as “innovative” and “disruptive” by its creators – supports banks in developing new apps for their SME clients and also holds competitions to […]
Viewpoint: Virtual Reality
The rise of m-wallets, smartphones and online shopping could be a boon to virtual incentives.
Viewpoint: A Modern Magnifying Glass for IVR Performance
If you’re not analyzing your cardholders’ IVR interactions, you’re missing an opportunity to improve their experiences and engender loyalty. IVR design based on insights from previous interactions is crucial, particularly in prepaid where cardholders rely heavily on customer service.
Viewpoint: Don’t Wait around for NFC
Smaller banks bent on taking market share from larger rivals can appeal to mobile consumers without going all-in on NFC, at least for now.
Pay Magazine – Spring 2016
Limitless: Next-Gen Commerce Has No Boundaries; Fighting Fraud: Mobile, EMV, Tax Refunds; Securing Mobile Payments; Former CFPB Lawyer: Coping with the Complaint Database; Record-Breaking IPOs, IoT and More
Industry: Report on Tax Refund Delays Misses Mark
A recent report claiming that heightened anti-tax fraud efforts have led to taxpayers suffering delays in receiving refunds via prepaid cards mischaracterizes the situation, industry observers say.
Cordray Testifies before House; Rep. Hensarling Plans for Regulatory Reform
The hearing followed an announcement from Committee Chairman Reb. Jeb Hensarling (R-Texas) of Republican committee members’ plans to reform financial reform in Washington, including demanding that regulatory agencies undergo a cost-benefit analysis of every regulation.
Survey: Banks Fear Fintech Effect
Banking executives worry the rise of fintech could spell trouble for their institutions, a new report reveals. Conducted by PwC, the survey of 544 CEOs, CIOs and other top managers at financial services providers in 46 countries found that 83 percent of respondents from traditional firms feared disruption caused by new standalone fintech companies could result in the loss of business.
Japanese Bitcoin Case Will Remain in U.S.
A proposed class-action lawsuit regarding the alleged mishandling of bitcoin accounts in Japan will remain in the U.S., according to a federal court ruling in Chicago this week.
Bangladesh Bank Hackers Steal $81 Million
Hackers behind an $81 million theft that involved the U.S. Federal Reserve have cost the leading banking official in Bangladesh his job.
Cash is still king but “uneasy lies the head that wears a crown!”
Even as I am prepping for my next industry event, observations from the last conference I attended continue to permeate my thoughts. The ATMIA US Conference that was held in New Orleans only recently and yet, three items continue to have me thinking about the durability, indeed longevity, of some of the points raised. In […]
U.K.’s Atom Bank Will Use Machine Learning for Mobile Banking
The mobile-only bank, set to open for business later this year, integrates technology from a Xerox subsidiary into its mobile banking app.
M&A Update: Payoneer Buys Armor; FinTech Studios Acquires iUbble
M&A activity continues apace with cross-border B2B payments firm Payoneer completing its acquisition of escrow services provider Armor Payments. Meanwhile, FinTech Studios, which sells fintech software, has bought iUbble, a 2-year-old company whose own software includes a browser for Web and mobile apps.
CFPB Supervisory Highlights Focus on Remittances, Restitution
The CFPB’s latest Supervisory Highlights report is the first to detail the bureau’s examinations of remittance providers since the agency’s rules governing international money transfers went into effect more than two years ago. Next up, Director Richard Cordray’s semi-annual report to Congress.
Payoneer acquires Armor Payments to create global alternative to LCs
US-based Payoneer has acquired Armor Payments as it looks to create a “global alternative” to letters of credit (LCs). Armor Payments, co-founded by former PayPal Director, Scott Reynolds, is the “only licensed B2B payments provider offering Escrow-as-a-Service (EaaS)”. Through the acquisition, the new integrated Armor Payments Payoneer Escrow solution will allow B2B buyers and suppliers […]
People on the Move: Anil Aggarwal, Blackhawk Network Board
Blackhawk Network has named Anil Aggarwal to the company’s board of directors.
Visa Debuts a Digital Swipe for Visa Checkout
The new design for the online and mobile payments service promises to increase transactions, according to Visa testing.
