Equniti to acquire Transglobal Payment Solutions
Equiniti has exchanged contracts to acquire TransGlobal Payment Solutions, whose platform is used by Equiniti International Payments, the group’s foreign exchange payments business, launched in 2011.
PayTech
BNP Paribas becomes CHAPS’ 22nd direct participant
BNP Paribas has become a direct participant in CHAPS, the UK’s same day high-value electronic payment system, the 22nd bank to join in this role. More are expected to join by the end of 2016. As a direct participant, the bank can directly send and receive irrevocable, guaranteed sterling payments with same day finality, rather than through a third-party.
Volante launches ‘Babel Fish’ for financial messaging transformation
A ‘Babel Fish’ for financial messaging has been launched by Volante Technologies with the intention of simplifying corporate-to-bank integration and removing obstacles to on-boarding. Like the fictional universal translator from Hitchhikers’ Guide to the Galaxy, the system translates incoming message formats into something that the receiver can understand.
PSR appoints chair of the Payments Strategy Forum
The Payment Systems Regulator, the new economic regulator for UK payment systems, has appointed Ruth Evans as the chair of the Payments Strategy Forum. Evans is currently chair of The Authority for Television on Demand, the independent co-regulator for the editorial content of UK video on demand services.
Clearing the path to BPO adoption for international trade finance banks
The release in 2013 of Universal Rules for Bank Payment Obligation by the International Chamber of Commerce effectively endorsed and formalised the structure for international trade finance processes. Despite this, the volume of completed BPO transactions remains low
Green Dot Cuts Ribbon on Tech Center in China (July 14, 2015)
Green Dot Corp. today opened the doors to Green Dot Shanghai Software Technology Co. Ltd., a wholly owned subsidiary located in the Zhangjiang Hi Technology Park in the Pudong district of Shanghai.
Apple Pay Goes Live in U.K. (July 14, 2015)
Apple Pay went live today in the U.K., and analysts say its prospects of catching on with consumers are promising, at least from the hardware perspective.
First Data Amps up Gifting Platform with Latest Acquisition (July 14, 2015)
First Data Corp. has made another move to bolster digital gifting options for its retail clients, acquiring digital gift card platform Transaction Wireless Inc. (TWI).
Viewpoint: Canada’s Digital Privacy Act Receives Royal Assent, but Breach Notification Provisions Lag Behind
It’s now law, but not all of the act is in force yet.
Viewpoint: Amendments to Canada’s AML Legislation: What’s New and What’s Next
Regulated entities that verify identity in connection with the issuance of stored value cards may find more flexibility in the principle-based approach to identity verification outlined in the proposed regulations.
Banks notable by their absence at Apple Pay UK launch
Apple Pay has launched in the UK without the participation of HSBC and Barclays, two of the UK’s largest retail banks.
Viewpoint: The 3 Pyramids of Customer Success in E-Gifting
As retailers prepare for the year’s biggest gifting season, there are some key principles to guide digital gifting strategies that maximize revenue and loyalty.
Treasury: AML, CTF Efforts Have Been Effective (July 13, 2015)
Efforts to combat money laundering and terrorist financing have succeeded in making life difficult for criminals seeking to engage in those activities, according to a pair of reports from the Treasury Department.
Amex Taps Web Logins to Speed Checkout (July 13, 2015)
American Express may be not be the first among its rivals to introduce streamlined online checkout, but its new service features a sleek shortcut for users that could be a key advantage in driving adoption.
InComm Adds MetaBank as Prepaid Card Issuer (July 13, 2015)
MetaBank, through its Meta Payment Systems division, has announced an agreement to be an issuing bank for Atlanta-based InComm’s prepaid card programs.
Banks must replace ‘old digital’ to improve corporate treasury offerings
The ‘digitisation’ of banking provides an opportunity for banks to improve their treasury service offerings as they face a second wave of digital expectations from key corporate customers, according to a report from analyst firm Celent.
World Class Payments take shape in the UK
advances in technology, and particularly consumer demand, are driving change and making the payments environment an interesting place to be in the years ahead
Viewpoint: 3 Keys to Sustainable Public Sector Programs
Public sector programs usually offer predictable loads and transaction volumes, and that information can be a plus. But reliable load patterns don’t guarantee overall success, especially if you price yourself out of profitability and sustainability.
Viewpoint: How the Ripple Protocol Could Change Payments
Unless you’re a mathematician or a bitcoin fan, trying to understand what Ripple is—and why it’s so revolutionary—requires a bit of research (not to mention a double espresso!). That being said, here at Hyperwallet, we definitely think this new technology is worth investigating. In fact, I’d wager a bet that, within just a few years, Ripple could become as important to the world of payments as the Internet is to the world of information today.
Q&A with Brad Fauss, NBPCA
The NBPCA’s newly elected president and CEO spoke with Paybefore about priorities, what happens behind the scenes of the association, and the work that lies ahead for an industry that must continue to raise awareness on the Hill.
Swift moves management ahead of 2020 strategy implementation
Swift has restructured its management team, increasing the number of direct reports to chief executive Gottfried Leibbrandt, following board approval of its 2020 strategy proposals.
MasterCard Pilots ‘Selfie’ Online Payments (July 8, 2015)
Biometrics authentication continues to draw interest from some of payments’ biggest players, with MasterCard unveiling a new pilot program that will enable online shoppers to approve purchases with a facial scan.
Visa Europe Pulls Back on Monitise Investment (July 8, 2015)
Two days after revising its earnings expectations for the year, London-based financial technology firm Monitise plc told investors today that Visa Europe plans to withdraw its remaining investment in the company.
Europol: cash is still king – for criminals
More than 30% of all suspicious transaction reports in the European Union are triggered by the use of cash, according to Europol, with the €500 note – not widely used for payments – still in demand.
People on the Move: Matt Kerper, CashStar
CashStar Inc., a provider of digital gifting technology and Paybefore Award winner, has appointed Matt Kerper vice president of strategic business development.
People on the Move: Richard Fisher, Barclays
Barclays has appointed Richard Fisher senior adviser.
People on the Move: Mark S. Scott and Douglas L. O’Keefe, Locke Lord LLP
Locke Lord LLP has enhanced its corporate and real estate capabilities in South Florida with the hiring of leading transactional lawyers Mark S. Scott and Douglas L. O’Keefe as partners in the firm’s Miami office.
People on the Move: Rama Sridhar, Matthew Driver, T.V. Seshadri, Porush Singh and Julienne Loh, MasterCard
MasterCard recently announced several personnel changes for its Asia-Pacific business.
Companies on the Move: Robert Bosch Inc., CardLinx Association
Germany-based Robert Bosch Inc. has joined the CardLinx Association, which represents the card-linked rewards industry.
Apple mops up mobile payments market
iPhone devices account for more than one in three mobile transactions, and are used for 10% of all global online transactions, according to new figures published by payment specialist Adyen.
Retail Gift Cards Rebound in 2014 (July 7, 2015)
After a sluggish 2012 and a double-digit drop in 2013, total dollars loaded onto retailer-issued, closed-loop prepaid cards rebounded with a 13 percent increase last year, according to Mercator Advisory Group’s latest report.
Apple Eyeing P2P, Patent Filing Suggests (July 7, 2015)
P2P providers may have to brace for yet another competitor to enter the crowded field—Apple Inc.—which has filed a patent suggesting plans to extend P2P services to its Apple Pay users.
Starting Young Key to Financial Literacy, Says Presidential Panel (July 7, 2015)
Equipping young Americans with the knowledge they need to make smart financial decisions should start as early as pre-kindergarten, according to a new report from a group of experts tasked with finding ways to promote financial capability among the young. Created by a 2013 executive order from President Obama, the President’s Advisory Council on Financial […]
PSR papers set out scope for Payments Strategy Forum
The UK’s Payment Systems Regulator has published a series of papers describing its work on the creation of the Payments Strategy Forum, the body it is creating under independent leadership to bring together regulators, industry and users.
Visa Research Shows Payroll Cards Score Big with Employees (July 6, 2015)
Payroll cards have gotten a lot of negative press in the past few years and have been (or still are) in the legislative and regulatory hot seat in a few states, where onerous regulations could drive products out of the market.
N.Y. DOL Extends Comment Period for Payroll Card Regs (July 6, 2015)
Payroll card providers now have until July 31, 2015, to respond to the New York Department of Labor’s proposed payroll card regulations, which prohibit fees for inactivity, overdraft, declined transactions or receiving written transaction statements, among other mandates.
PayPal Puts Heat on Intl. Remittances with $890 Million Xoom Acquisition (July 6, 2015)
As PayPal prepares to fly solo later this month, its plan to buy international remittance firm Xoom Corp. for $890 million substantially increases its P2P business.
Visa Europe sees contactless payments top 1 billion in past year
Visa Europe says that uptake of contactless payments in Europe continues to climb with more than one billion transactions made in the last year. Visa cardholders spent €1.6 billion in March 2015 alone – a three-fold increase over the same period in 2014.
The new payments landscape: we need a new mind-set
Popmoney, Dwolla, Square Cash, Funding Circle, Venmo, Nutmeg, Transferwise, Stellar, Kabbage … this is not a list of the latest box office hits or some weird shopping list, but a handful of the emergent FinTech companies that are sprouting up everywhere like wild mushrooms. These companies are, to a certain extent, beginning to reshape and […]
Harmonisation of ISO 20022 is crucial – but who should be in charge?
It seems not a day goes by without seeing those three little letters and five numbers – ISO 20022 – appearing in headlines or articles. But hang on a minute, what’s all the commotion about? It’s just another message format that I need to make sure my systems can handle, right?
