New Visa Service Bolsters Marketing for Smaller Issuers (Oct. 21, 2015)
Visa Inc. is giving small and midsize credit and debit card issuers a new tool to optimize their marketing efforts.
PayTech
NRF: Gift Cards (Again) are Most Wanted for the Holidays
The National Retail Federation’s annual holiday survey puts gift cards on top as the most requested holiday gift for the ninth consecutive year. Plus, consumers share plans for their most mobile holiday shopping season yet.
MasterCard Initiatives Give Boost to Security (Oct. 20, 2015)
MasterCard is bolstering security on several fronts, launching tokenization for MasterPass and a new tool to help banks and processors reduce the threat of cyberattacks.
UniRush LLC Offers 4-Month Fee Holiday in Wake of Glitch (Oct. 20, 2015)
UniRush LLC last week disclosed a major service interruption with its RushCard GPR product that resulted in many of its customers experiencing difficulty using their cards and accessing funds over several days, resulting in apologies from RushCard co-founder Russell Simmons and a four-month holiday from card fees that will run Nov. 1, 2015, through Feb. 29, 2016.
Oberthur Planning IPO in Paris (Oct. 20, 2015)
Paris-based global card manufacturer Oberthur Technologies is planning to go public in what its owner, private equity firm Advent International Corp., is saying will be the largest technology IPO in Europe this year, according to reports.
CurrentC Pilot Adds Walmart (Oct. 19, 2015)
Walmart this week joins major merchants participating in MCX’s CurrentC mobile payments test underway in Columbus, Ohio, with Exxon Mobil and Shell coming soon, the consortium confirms.
InComm, Scientific Games Partner to Offer Lottery Gift Cards (Oct. 19, 2015)
With the holiday season approaching, consumers will be able to purchase lottery gift cards to give as gifts or for self-use through a partnership with InComm and Scientific Games International. The Atlanta-based prepaid product and technology provider signed a five-year deal with Scientific Games to provide lottery gift cards in North America.
Looming Interchange Caps Could Mean Higher GPR Fees in U.K. (Oct. 19, 2015)
GPR card fees in the U.K. have been trending downward over the past few years, but forthcoming limits on interchange revenue could pressure issuers to reconsider their fee structures, according to Polymath Consulting’s David Parker.
SIBOS Interview: Benoit Desserre, Global Head, Payments and Cash Management, Societe Generale
SIBOS Interview: Benoit Desserre, Global Head, Payments and Cash Management, Societe Generale
SIBOS INTERVIEW: Bank-to-bank business – today and tomorrow
Erik Zingmark, Deputy Head of Transaction Products, and Head of Cash Management, Nordea
SIBOS Interview: Bruno Prigent and Mathieu Maurier of Societe Generale
Bruno Prigent , Head of Securities Services and Mathieu Maurier, Global Head, Sales Management at Societe Generale
SIBOS Interview: Dr Darryl Twigs, Head of Product Management, SmartStream
SIBOS Interview: Dr Darryl Twigs, Head of Product Management, SmartStream
Pay Magazine – Fall 2015
What Glass Ceiling? Women Driving Payments Change; P2P on the Verge; M-Wallet Challengers; Apple Pay Stats; Cards Still Present: Why Plastic Rules; 2015 Paybefore Awards Europe Winners
Will banks suffer casualties in the battle to own the customer experience?
Technology has infiltrated every facet of our lives, fundamentally changing our behaviour patterns and our expectations of what constitutes a good customer experience. The banking sector has not been immune to these changes; the industry has been forced to drastically transform its business processes and services in order to keep up with customers’ expectations. Today, customer satisfaction is judged not by the smile on the face of a cashier, but on the speed with which one can gain mobile access
First Data Sets Record for the Year’s Largest U.S. IPO (Oct. 15, 2015)
Atlanta-based payments processing and technology provider First Data sets U.S. IPO record raising $2.5 billion, pricing its IPO of 160 million shares of Class A common stock at $16 per share.
Is everybody API?
Competition from financial technology companies and regulatory changes are forcing banks to adopt APIs to provide access to client information, which has many implications across the industry.
Lack of data in securities messages creates compliance issues
A lack of information in securities messages creates problems for financial institutions screening them for regulatory compliance. But if the audience in a session yesterday is representative, only around half of them are screening anyway.
Banks jump on the RMB superhighway
Banks have been quick to participate in the China International Payment System (Cips) and Sibos has provided the perfect opportunity for them to boast of their involvement. The payments infrastructure, which was launched on 8 October, was described as a “milestone” by Helen Yun, managing director and head of financial institutions China, Bank of America Merrill Lynch. Speaking during the Developing your transaction business with China session on Tuesday, she said the launch came at the right time, just a few days before Sibos opened.
Asean 5 defy the downturn, ANZ study reveals
While much of the focus at this year’s Sibos has been on China, today’s ‘Asean day’ highlights the emergence of the countries of the Association of South East Asian Nations (Asean). Many had expected the region’s trade integration to falter during the global financial crisis amid falling export demand. However a new report from Australia’s ANZ bank said the region had “defied the detractors and proved a resilient base for a new cohort of international banks”.
It’s not who you know, it’s what you know
Sluggish economic growth in developed nations means attention is still focused on the growth markets of the Brics nations. As intra-regional trade grows, local knowledge is becoming a valued commodity.
Cips ‘not a competitor’ says Swift
Swift was keen to point out that the newly-launched China International Payment System (Cips) is not a competitor. Prior to the launch of the Chinese payments infrastructure, details of the system were scarce. On Tuesday at Sibos, Philippe Dirckx, managing director, head of markets and initiatives, Asia Pacific, at Swift said he wanted to clear up the idea that Cips was a competitor to Swift.
‘Disruptive’ Chinese innovation is a signpost to the future, says Innotribe panel
Disruptive innovation in banking and payments was overwhelmingly coming from China. Established global banks had better watch out or they may soon not have a future …
Worrying want for working capital
Working capital and supply chain finance topped the list of concerns for corporate treasurers in an audience poll at The future of corporate banking session yesterday.
Need for fintech innovation
Regulatory pressures, millennial customers demanding different services and the impact of digital giants such as Google and Amazon are making innovation an imperative for banks and financial services organisations. But banks are not very innovative on their own, being risk averse and focused on their balance sheets.
From tiny acorns …
From its tentative early steps to open the Swift network to corporations, Swift has been steadily building its corporate membership. Swift membership is increasingly an option for not only large multinationals, but also medium sized companies. Daily News at Sibos looks at the current status of Swift for Corporates.
Real-time payments can fight disruption …
The rise of real-time payment infrastructures in the UK, Singapore, Poland, Australia and elsewhere in the world can help banks fight the disruption they face from alternative payment service providers (PSPs) and financial technology newcomers
What’s in Your Mobile Wallet? Capital One Launches M-Payments Solution (Oct. 14, 2015)
With today’s launch of its Capital One Wallet, Capital One is the first U.S. bank to enter the mobile wallet race. But with 22 million active mobile customers, Chase may not be far behind.
Blackhawk Partners with Stockpile for U.S. Stock Investment Gift Cards (Oct. 14, 2015)
Blackhawk Network Inc. today announced a key partnership with the 5-year-old Palo Alto, Calif. based startup Stockpile Inc., to distribute a line of gift cards representing U.S. stock market shares that can turn recipients into equity investors for as little as $50.
Henry Heads Investment in M-POS Provider CardFlight (Oct. 14, 2015)
Dan Henry has been mostly quiet since leaving his role as CEO of NetSpend last year, but the payments pioneer has now dipped a toe back into the industry, investing in m-POS provider CardFlight.
SIBOS INTERVIEW: Tom Brown, Senior Vice President, Financial Services, LexisNexis Risk Solutions
Tom Brown, Senior Vice President, Financial Services, LexisNexis Risk Solutions
Second Circuit Holds Credit Card Surcharge Doesn’t Violate U.S. Constitution
Court considers whether it’s permissible for a discount for using cash or a surcharge for using credit cards.
SoulCycle Pushes Back Against Alleged Gift Card Violations
A high-end fitness company selling tickets to reserve a spot in a specific class at a designated date and time comes under scrutiny for violating the CARD Act.
SCOTUS Denies Cert in Borders Gift Cardholder Suit
Borders gift cardholders do not get to claim $210 million in unredeemed gift card funds.
Retailers Continue to Challenge Interchange Fee Settlement
Target Corp., Amazon.com and a host of other retailers continue to challenge MasterCard, Visa and several large banks over the terms of a $7.25 billion settlement reached in 2013. The settlement was supposed to end the retailers’ claims that the banks and MasterCard and Visa artificially inflated interchange fees. Several of the largest retailers, however, […]
Viewpoint: Contrasting Payments Innovation in Europe and the U.S.
America has led Europe in payments innovation. Europe has led in payments regulation. The recent rubberstamping of PSD2 in Brussels suggests that’s likely to continue.
The value of utility
Compliance obligations are increasing for financial institutions. A utility approach to the issue is gaining favour …
Finding the right fit
Trade finance plays an important role in helping to grease the wheels of the global economy. A largely paper-based process, effort is being put into finding ways to automate and improve processes for banks and corporates.
