InComm Not for Sale; Bloomberg Article Incorrect (May 11, 2015)
In an exclusive interview, Meyerhoff tells Paybefore that the company is not for sale, not planning to sell and has not engaged any third party to contemplate or pursue a sale.
PayTech
Senate Banking Head Mulling Fed Overhaul Bill (May 11, 2015)
The head of the Senate Banking Committee reportedly is readying a bill that would restructure the Federal Reserve and lead to fewer midsize banks being deemed “too big to fail.”
NBPCA to Recognize Industry Member with Terrence P. Maher Influencer Award (May 11, 2015)
In honor of the late Terry Maher’s tireless work on behalf of the industry, the NPBCA is further cementing his legacy by establishing the Terrence P. Maher Influencer Award.
Industry bodies look to harmonise ISO 20022 real-time payment implementation
Global interoperability of real-time payments systems will require harmonisation of market practices and standards. A group of international clearing houses, banks, vendors, payments associations and other parties have proposed setting up an activity to look at how to deliver this under the aegis of the International Standards Organisation – and set an ambitious target of collating an initial variant of ISO 20022 usage guidelines for real-time payments before the summer.
O2 Buys Weve, Ends Telco JV’s M-Payment Plans (May 7, 2015)
Weve, the U.K. telco-led mobile wallet joint venture of O2, Vodafone and EE, this week announced another major reorganization, abandoning its earlier mobile payments ambitions to focus on mobile advertising, under the sole ownership of O2.
V.me Set for Full Rollout in U.K. (May 7, 2015)
The U.K. rollout of Visa Europe’s V.me digital wallet is picking up steam, the payments network said, with support from banks representing more than half of the country’s 130 million cardholders and thousands of merchants.
Orange Cash Comes to Spain with Wirecard Support (May 7, 2015)
Wirecard Group will support the launch of mobile operator Orange’s Orange Cash mobile payments service in Spain.
EU Lawmakers Reach Informal PSD2 Agreement (May 7, 2015)
European lawmakers, following years of discussion, believe improved competition, more innovation and enhanced consumer protections in cross-border payments will be the result of an informal agreement on a revised Payment Services Directive (PSD2) reached this week.
FinCEN: Virtual Currency Exchangers Must Comply with BSA, AML Rules (May 7, 2015)
Ripple Labs Inc. acted as a money services business and sold its virtual currency without registering with FinCEN.
Innotribe names South African Start-up Challenge finalists
The Innotribe Start-up Challenge attendees selected the five finalists from the African leg of the Start-up Challenge to compete at Sibos Singapore in October. The showcase was held yesterday alongside Swift’s African Regional Conference.
National velocity checking: the answer to MSB money laundering?
Anti-money laundering legislation cuts through the Gordian knot of bringing cases against companies at a stroke – it doesn’t require a ‘controlling mind’. In fact, it almost demands the opposite. A UK-wide system of velocity checking would go further in combating crime and protecting Money Services Businesses.
Bringing the channels together
Can the right combination of self-service device management, cash management and end-to-end transaction monitoring enable banks to embrace enterprise-wide performance awareness, and take a holistic approach to managing their multi-channel banking environments?
Study: Pressure Intensifies on Banks to Innovate or Lose Competitive Edge (May 5, 2015)
As new payments technology seeks to disrupt the industry status quo, pressure is intensifying for financial institutions to adapt through innovation, or risk losing their existing leadership in the value chain, a new study from ACI Worldwide suggests.
Visa Europe Opens Doors to Startups with Innovation Lab (May 5, 2015)
Visa Europe has not only opened the physical doors of its new international innovation hub in London, the payments network also is opening its figurative doors to working with companies across the fintech ecosystem to create what it calls a new generation of payment services.
Survey: More Consumers Plan to Use Mobile Payments; Security Perceptions Improve (May 5, 2015)
Consumers’ perceptions of mobile payments security have improved, along with the number of consumers who say they’re likely to use a mobile payment app in the next 90 days, according to a new survey.
BBVA Revamps Corporate Structure for ‘Digital Transformation’ (May 5, 2015)
BBVA is shaking up its corporate structure as part of what the bank calls a “digital transformation.”
V.me by Visa to be rolled out in UK this year
Visa Europe says that it will roll out its V.me by Visa in the UK this year, having secured commitment from 55% of the UK’s card issuance base, which accounts for more than 60 million card holders, and thousands of the UK’s retailers. It will now be commercially available to the majority of internet shoppers in the UK before the end of 2015.
Demystifying mobile payments
As mobile handsets become more prevalent as a tool for retailers, for payments, loyalty and engaging with consumers in and out of the store, security of sensitive data becomes increasingly more important.
Viewpoint: UDAAP Priorities and the CFPB’s Project Catalyst Initiative
Notes from a business law meeting with speakers from the CFPB, FTC and New York Department of Financial Services.
Morgan Drexen Lawsuit against CFPB Thrown Out (May 4, 2015)
The U.S. Court of Appeals for the District of Columbia Circuit recently rejected a lawsuit by Morgan Drexen Inc., a provider of services to consumers through debt-relief lawyers, against the CFPB by a vote of 2-1.
Visa Sticking to October EMV Liability Shift (May 4, 2015)
Visa Inc. is holding to its October 2015 fraud liability shift date for EMV chip acceptance, although several merchant groups reportedly have requested an extension.
Consumer Organizations Push PINs for EMV (May 4, 2015 )
In a letter sent to Congress and other federal agencies, an ad hoc group of four consumer and technology organizations called for broad action to require PINs—not signatures—for all U.S. EMV card transactions.
Earnings Roundup: Visa, MasterCard, Meta, Western Union (May 4, 2015)
Four industry-leading organizations recently have filed their quarterly earnings reports.
Citi Mobile Challenge demos ‘disruptive’ finalists in London
Mobile startups are changing the way customers interact with financial services around the world. Tier one banks know this, and are keen to get a piece of the action. This week, companies from EMEA demoed at the Citi mobile challenge in London in the final stage of an annual event that takes in hundreds of financial startups around the globe.
Green Dot Bank Taps MasterCard for Processing; Deal Won’t Affect Visa Relationship (May 1, 2015)
Green Dot Bank is moving all of the transaction processing business for deposit accounts, including global prepaid and debit products to MasterCard. This week’s announcement follows 15 months of integrating the companies’ technology platforms.
Blog: Secure Elements vs. Cloud-Based HCE: What’s More Secure for NFC Mobile Payments?
In the debate over the secure element approach vs. HCE for mobile payments, Apple Pay introduces a new wrinkle with its hybrid solution, proving this isn’t a duel: All that matters is the pass/fail test for security.
Blog: Not Seeing a Tree for the Forest
Advocates of same-day ACH tout the increased functionality and economic benefits of speeding up payments. But a deeper look at the process reveals more of its hidden risk-mitigation benefits.
Why FDIC Insurance for Google Wallet?
The recent news that funds stored in Google Wallet now are FDIC-insured might indicate the tech giant has more changes in store for the wallet—and may even begin positioning it as a checking account alternative.
PayPal Brings One-Click Shopping Service to Web (April 29, 2015)
Less than a year after debuting its One Touch payment service on mobile devices, PayPal Inc. is bringing the feature to the Web.
People on the Move: Bob Hedges and Teresa Epperson, A.T. Kearney
Consulting firm A.T. Kearney has appointed two partners to its financial institutions practice, Bob Hedges and Teresa Epperson.
People on the Move: Personnel Moves, Cornerstone Advisors
Management consulting firm Cornerstone Advisors has announced a series of personnel changes.
People on the Move: Barry Mosteller, CPI Card Group
CPI Card Group announced that Barry Mosteller, director of research and development, received the Outstanding Member Service Award at the International Card Manufacturers Association 25th Anniversary Expo.
People on the Move: Joe Creamer and Jim Wojtak, MyECheck Inc.
MyECheck Inc., a provider of electronic check solutions for Internet and mobile payments, has added two members to its team.
Company on the Move: Optimal Payments, EGR North America Award
Optimal Payments, a global online payment solutions provider, was named the Best Payments Company at the EGR North America Awards ceremony recently held in San Francisco.
People on the Move: Sarah Grotta, Mercator Advisory Group
Mercator Advisory Group has hired Sarah Grotta, a 20-year payments and banking industry veteran, as its head of the company’s debit advisory service.
People on the Move: Brian Mooney, Merchant Customer Exchange (MCX)
Merchant Customer Exchange (MCX), developer of the CurrentC mobile payment platform, has appointed financial services and payment industry veteran Brian V. Mooney as the company’s interim CEO.
People on the Move: Patrick Dix, SHAZAM Network
The SHAZAM Network has added Patrick Dix to the company’s marketing team as a senior public relations manager.
APEX Europe Speakers to Tackle New Business Opportunities in Payments
When top payments and retail executives gather at All Payments Expo (APEX) Europe May 18-20, 2015 in Marbella, Spain, a key theme will be identifying and navigating new business opportunities surrounding emerging payments technologies, like mobile wallets and host card emulation (HCE).
MCX makes Mooney interim chief exec
Merchant Customer Exchange, developer of the CurrentC mobile payment platform has appointed financial services and payment industry veteran Brian Mooney as interim chief executive. Mooney succeeds Dekkers Davidson, who is leaving MCX to pursue other opportunities.
Payments innovation: lessons from emerging markets
Africa and Asia are the centres of innovation in payments, with the developed markets of the US and Western Europe lagging behind, but the trend is towards domestic offerings rather than regional or international ones, says the latest Payments Innovation Jury Report.
