PayTech
Talking Heads: a matter of principle
Five years on from the financial crisis and banks still face a rising tide of regulatory initiatives. Daily News at Sibos asked several industry executives whether the price of regulation is becoming too high
Swift at 40: James Willis
To mark Swift’s 40th Birthday, Banking Technology is publishing a series of interviews with staffers looking back over how the organisation has changed during their time there, and where they see it developing in the future. Today: James Wills, senior business manager, banking initiatives/standards
Swift at 40: Beth Smits
To mark Swift’s 40th Birthday, Banking Technology is publishing a series of interviews with staffers looking back over how the organisation has changed during their time there, and where they see it developing in the future. Today, Beth Smits, head of corporate affairs, Asia Pacific
Swift at 40: Alain Raes
To mark Swift’s 40th Birthday, Banking Technology is publishing a series of interviews with staffers looking back over how the organisation has changed during their time there, and where they see it developing in the future. Today, Alain Raes, chief executive EMEA and Asia Pacific.
Zapp zeroes in on UK banks as mobile banking competition builds
Mobile payments specialist Zapp is expecting to sign up five of the six major UK banks within the next few weeks, following a deal with acquirer WorldPay, announced this week. However, the platform still has a long way to go to catch-up with rival Barclay’s Pingit, which has a significant head-start, having launched in February 2012.
Where the world is your lobster …
Rapidly becoming an international transport hub, Dubai is a thriving multicultural city. David Bannister, editor of Banking Technology, samples some of the city’s culinary and cultural delights.
MasterCard: Prepaid is Fastest-Growing GDV Category as Digital Payments Grow Worldwide (Sept. 12, 2013)
Prepaid accounted for the strongest growth rate in gross dollar volume (GDV) for all payment card types during the first half of this year for MasterCard Worldwide, as prepaid card use cases expanded worldwide, the network told investors yesterday.
Rep. Hensarling ‘Welcomes’ CFPB Director Cordray to Finance Hearing (Sept. 12, 2013)
Sept. 12, 2013 Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), presented the agency’s semi-annual report to the U.S. House Committee on Financial Services during an often contentious hearing this morning. Literally seconds after welcoming Cordray to this morning’s hearing, Committee Chairman Jeb Hensarling (R-Texas) assailed the agency for the relatively unchecked power […]
Fed Seeks Industry Input on Payment Improvements (Sept. 12, 2013)
Sept. 12, 2013 The Federal Reserve is seeking payments industry input on a set of new policy proposals to modernize and improve the nation’s payments system in the wake of rapid changes in technology and consumer expectations. Earlier this week, the agency released its Payment System Improvement – Public Consultation Paper, the purpose of which […]
Sprint ‘Boosts’ Wallet with Remote Check Deposit Service (Sept. 12, 2013)
Sprint’s Boost Mobile Wallet users now have a way to turn checks into instant funds with a new service dubbed Quick Check, which uses remote deposit capture to deposit checks into customers’ wallet accounts.
Blog: Never Count Microsoft Out: Microsoft-Nokia Acquisition Analysis (September 2013)
Mary Monahan, Javelin Strategy & Research
Microsoft’s canny purchase of Nokia for the bargain price of $7.2 billion reopens the rumors that Stephen Elop’s move to Nokia was a Trojan horse, intended to open the doors to the announcement last week.
Blog: Fraud Trends to Watch
By John Dancu, IDology Fraud? Oh no … couldn’t happen to me! Is that how you or your organization approaches potential fraud? Well … if it is, it might be time to take a closer look. In our recent “Fraud Report,” which polled senior executives from our customer base of financial service providers and companies […]
PayPal Preps ‘Hands-Free’ Payments; Apple Debuts Fingerprint Security (Sept. 10, 2013)
PayPal could give mobile commerce a big boost with the introduction of PayPal Beacon, a service it’s piloting this fall that will enable customers who opt in to pay “hands-free” with their PayPal mobile apps at participating merchants.
Payments in Transit: Ventra Rolls Out in Chicago, Octopus Unveils Mobile Plans (Sept. 10, 2013)
Two major mass transit contactless payment initiatives are speeding forward this week, with the debut of Chicago’s Ventra system and the announcement of a smartphone-based payment feature for Hong Kong’s transit network.
Investors Pump Millions into M-Payment Companies Check and Paydiant (Sept. 10, 2013)
Sept. 10, 2013 The money keeps pouring in as two mobile payments players, Check and Paydiant, are the latest to report recent infusions of capital. Wellesley, Mass.-based Paydiant announced today that it has closed a $15 million round of funding from North Bridge Venture Partners, General Catalyst Partners and Stage 1 Ventures, among others. The new […]
Sumitomo to Launch payWave-Based NFC App (Sept. 10, 2013)
Japanese banking group Sumitomo Mistui will launch a new NFC payment service that will be available through all three of the country’s mobile network operators and more than 30 NFC-enabled smartphone models.
PayPal’s Mobile App Redesign Touts POS Acceptance, Merchant Deals (Sept. 9, 2013)
PayPal is making a splash with a redesign of its mobile app that pulls together several of the company’s latest initiatives into a digital wallet emphasizing consumer benefits, including instant discounts and the ability to pay at the POS.
Vodafone, Visa to Pilot New Zealand NFC Wallet (Sept. 9, 2013)
Vodafone and Visa are teaming up to launch an NFC-based mobile payment pilot in New Zealand.
Bitcoin Dealers Seek Regulation in U.K., Startups Launch Bitcoin ATMs (Sept. 9, 2013)
Sept. 9, 2013 Financial institutions and Bitcoin companies met last week with several British government agencies, asking them to consider regulating the virtual currency so they can be used to promote commercial growth and encourage financial innovation. Representatives from Bitcoin companies and smaller FIs told officials that “big banks are blocking the creation of business […]
mPOS Takes to the Sky with Delta In-Flight Sales Platform (Sept. 9, 2013)
Delta Air Lines has equipped more than 19,000 of its flight attendants with Nokia Lumina mobile devices with mobile POS capability for the airline’s new in-flight purchase program.
Western Union teams for mobile wallet venture in Nepal
Western Union has launched a new mobile money transfer service in Nepal, which aims to capitalise on the country’s massive inflow of cross-border remittance payments.
Gamification: More than Just Fun and Games (September 2013)
To drive customer education and engagement, financial services providers are applying the concepts of gaming—and it turns out a little fun can drive serious results.
UK mobile payments held back by security and complexity
With only one in five UK consumers using their mobile to make payments, new research suggests that the technology is being held back by consumer fears over security, lengthy sign-up processes and problems making payments outside of individual schemes.
Life beyond legacy: exploring the options
The payment industry has never seen so much change or opportunity. It continues to be reshaped by shifts in the economic landscape, new technologies and customer needs and this is set to continue.
Visa Europe, IBM and Monitise plan European mobile revolution
Visa Europe and its majority-owned mobile money specialist Monitise have signed a deal with IBM in a major mobile banking and mobile payment collaboration targeting Europe’s banks.
Viewpoint: Hiring and Retention Tips from a Payments Recruiter (September 2013)
The scoop on the hottest jobs in prepaid. Plus, how to attract (and keep) the best talent.
Reports: Prepaid Card Market Slows But Can Rebound (September 2013)
Prepaid card market growth slowed from 2011 to 2012 as a then-softening economy and compliance complexities finally caught up to the industry.
Green Dot Seeks $90 Million in Sallie Mae Prepaid Card Breach of Contract Suit (Sept. 4, 2013)
Sept. 4, 2013 Green Dot Corp. is seeking $90 million in damages from Sallie Mae in a lawsuit claiming the student loan giant misled Green Dot about the prospects for a prepaid card the two companies announced last year to help colleges disburse student financial aid refunds that Sallie Mae pulled the plug on. In a […]
Russia Launch Gives PayPal Access to Hot Market (Sept. 4, 2013)
Sept. 4, 2013 PayPal Inc. is opening for business in Russia, now that the San Jose, Calif., payment giant has overcome the regulatory barriers to fully operating in the country. According to a report in the Moscow Times, PayPal will begin enabling account holders to transfer funds to Russian banks in rubles starting on Sept […]
Mint Wireless Unveils New Platform for Australia, New Zealand Payments (Sept. 4, 2013)
Australia-based mobile payment processor Mint Wireless has announced the launch of a new platform the company says will simplify the integration of card payments across multiple mobile devices and platforms.
More Payment Terminal and Software Providers Support Isis SmartTap (Sept. 4, 2013)
Isis says it’s bolstering its market position before its national rollout with a handful of payment terminal manufacturers and software providers that are integrating Isis SmartTap capabilities into a range of POS systems, including integrated POS terminals and vending machines.
MasterCard, Blue Label Telecoms Tackle Card Acceptance in Rural South Africa (Sept. 3, 2013)
Blue Label Telecoms today announced a partnership with MasterCard that will expand electronic payment terminals to 22,000 small traders and rural shops in South Africa.
PreCash Eyes Bill Pay/Mobile App Combo to Drive Customer Relationships (Sept. 3, 2013)
Payments processor PreCash is combining a mobile app with its bill payment technology to help consumers pay bills with cash, which the company hopes will translate to a broader financial services relationship with PreCash.
Win Me Over: What Will it Take for Consumers to Embrace Mobile/Digital Wallets? (September 2013)
What consumers want from mobile wallets is a question not easily answered, nor is it clear whether any of the mobile wallets developed so far will hit the jackpot in creating a consumer experience compelling enough to change entrenched habits.
CMS Says Insurers Must Accept Prepaid Cards (Sept. 3, 2013)
Sept. 3, 2013 Health insurers must accept prepaid cards as payment for coverage mandated by the Affordable Care Act, the Centers for Medicare & Medicaid Services (CMS) said in a rule issued last week. The rule paves the way for more than 8.5 million uninsured people who would otherwise have difficulty buying coverage on insurance […]
Banco Santander Partners with iZettle in Mexico, Oberthur in Chile (Sept. 3, 2013)
Less than three months after iZettle’s first venture outside of Europe, the Swedish mobile payments company again has partnered with Spain’s Banco Santander to launch its m-payments service, which enables customers to accept card payments with their smartphones or tablets and an iZettle card reader, in Brazil.
Turkish Garanti Bank launches ‘Facebook’ mobile banking app
Turkey’s Garanti Bank has launched a new ‘socially integrated’ mobile banking service called iGaranti, which connects with Facebook, Twitter and FourSquare to help users send money to friends and family.
Companies on the Move: Transaction Wireless, ACE Award (September 2013)
Transaction Wireless, a San Diego-based provider of cloud-based solutions for B2C and B2B gift cards, recently received the Incentive Gift Card Council’s ACE Award.
People on the Move: Brian Tordsen, Sunrise Banks (September 2013)
St. Paul, Minn.-based Sunrise Banks recently appointed Brian Tordsen executive vice president and director, national products group.
