Thieves make away with $20m from Revolut following payment flaw
Flaws in its US and European payment systems meant that some declined transactions were wrongly refunded.
PayTech
Humo and Credo Bank to pilot RTGS.global settlement service
The pilots will seek to streamline historically cumbersome cross-border settlement processes.
Banking Technology Magazine July / August 2023 issue out now
Cover story: THE BEST OF BANKING TECH USA – Winners and pictures from an amazing night.
FIS confirms deal to sell majority stake in Worldpay to GTCR for $11.7bn
The transaction is expected to close by Q1 2024, subject to regulatory approvals and closing conditions.
SumUp taps Form3 for access to UK Faster Payments, appoints CPO
SumUp has also appointed Anna Kuriakose as its new chief product officer (CPO).
Britcoin privacy preserved as Bank of England taps Nuggets for identity layer
The layer will maintain user privacy and offer protection from fraudulent activity and money laundering.
Nine UK banks tap Mastercard for new AI-powered fraud risk solution
Lloyds Bank, NatWest, Monzo and TSB are some of the UK banks partnering with Mastercard for its latest offering.
The Law Commission of England and Wales publishes recommendations for digital asset law reforms
The Law Commission has conducted the first-ever rigorous common law analysis relating to digital assets.
Moneycorp appoints Velizar Tarashev as new CEO
Tarashev, who joined Moneycorp as CFO in 2021, succeeds Mark Horgan, who will step down after 12 years as CEO.
Former Goldman Sachs partner joins Clowd9 as CFO
Christian Channell joins the cloud-native platform following a 25-year career at Goldman Sachs.
UK EMI The Payment Firm set to launch this summer
Services are expected to include cross-border payments, merchant services and card issuance, among others.
Inpay becomes Scandinavia’s latest EMI following FSA accreditation
The firm is now the first Scandinavian fintech to hold EMI, TPP and PSP licences.
Bank of Lithuania revokes EMI licence of PayrNet
The central bank says it took the decision due to “serious, systematic and multiple violations of legal acts”.
FIS reportedly in talks to sell majority stake in Worldpay for $15bn
Sources tell Reuters that FIS will keep a minority stake in the business if the deal goes through.
Wise to offer its infrastructure to help fintechs issue accounts and cards
Wise Platform will roll out the new features in Australia initially, and has already signed two clients.
Honouring the innovators: PayTech Awards 2023 winners revealed
Celebrating exceptional achievements and talent in payments industry worldwide.
BIS names Maha El Dimachki as new head of Singapore innovation hub
El Dimachki will join BIS from the Financial Conduct Authority (FCA) in the UK.
CaixaBank launches FXWallets service for international payments
FXWallets is currently available in pilot mode for select customers, with a wider rollout planned for September.
Visa to acquire payments and banking platform Pismo for $1bn
The transaction is subject to regulatory approvals and is expected to close by the end of this year.
European Commission proposes new measures to modernise payments
The proposed measures include revising the Payment Services Directive to become PSD3.
Sardine forms industry consortium to help tackle payment fraud
Founding members include Chesapeake Bank, Visa, Airbase, Blockchain.com, Alloy Labs Alliance, iLex, and Novo.
Over 150 senior-level executives set to join FinTech Futures’ 40th Anniversary Summer Party
We’re celebrating our 40th anniversary on Thursday 6 July at our spectacular summer party!
Star One Credit Union taps Tyfone to implement instant payment solution
The solution is certified for FedNowSM, the Federal Reserve’s new instant payment offering launching in July 2023.
UK paytech Ryft introduces in-person card payments to St Helena
Ryft says the small, remote island has “historically struggled” to access international payment platforms.
US paytech Fortis expands into Canada, acquires SmartPay
The move marks Fortis’ first expansion outside the United States.
Visa names Chris Suh as new chief financial officer
Suh replaces longstanding Visa CFO Vasant Prabhu, who is set to retire on 30 September.
UK paytech Volt secures $60m in Series B funding
With the new funds, the company plans to expand into APAC and the US.
ACI Worldwide launches Instant Pay solution for European merchants
Merchants using Instant Pay will be able to accept instant online, mobile and in-store payments.
Jordan Ahli Bank launches social payment app Qawn powered by Thought Machine
Qawn runs on Thought Machine’s cloud-native core banking platform, Vault Core.
Mediobanca’s Compass acquires HeidiPay Switzerland
The acquisition will enable Compass to become a consumer credit operator in the Swiss market.
Europe funding round-up: DJUST, Apron, Trezy and more
A handy round-up of the recent funding endeavours of fintech companies across Europe.
Mastercard and Bankiom to launch virtual prepaid cards across the GCC
With the partnership, Mastercard aims to drive digitalisation in the GCC payments landscape.
Market Pay acquires Polish paytech Novelpay in European expansion push
This is Market Pay’s third acquisition in less than two years.
Payments Canada further delays launch of real-time payment system
During the next three months, Payments Canada will review the risks identified in the delivery of the Real-Time Rail.
India’s Fino Bank taps Hubble to launch spending account
The spending account will be integrated with Fino Bank’s digital savings app, accessible on its mobile app FinoPay.
FIS acquires BaaS start-up Bond for undisclosed sum
In an internal memo, FIS shares that it completed the Bond acquisition on 8 June.
UK paytech GoCardless lays off 15% of its workforce
GoCardless cites the current economic environment as the reason behind the layoffs.
Netherlands first to launch contactless public transport payments system nationwide
OVpay, the open loop payments system, will now be accepted at all modes of public transport across the country.
White paper: Building a business card program in today’s digital first landscape
How to make a card program for SMBs a conduit to continued customer/member loyalty and growth for an FI.
Infographic: The five steps to top-of-wallet status
The five steps you need to achieve card dominance in today’s highly competitive landscape.
