Canada Sees Surge in Mobile, Contactless Payments
Canada’s payments system is undergoing a rapid transition, with mobile P2P, e-wallet and contactless transactions on the rise, according to a report from the Canadian Payments Association.
Canada’s payments system is undergoing a rapid transition, with mobile P2P, e-wallet and contactless transactions on the rise, according to a report from the Canadian Payments Association.
The Linux Foundation, a non-profit organisation geared to promoting open source technology has announced 30 members from across the finance and technology industries have joined its new Hyperledger Project. Hyperledger is an open source project intended to advance blockchain digital technology for recording and verifying transactions. The founding members of the initiative represent a diverse […]
A common approach to the rules governing central counterparties (CCPs), the key infrastructure for reducing counterparty risk in derivatives trading, have been agreed between Europe and the US. The European Commission (EC) intends to adopt an equivalence decision with respect to Commodity Futures Trading Commission (CFTC) requirements for US CCPs which will allow the European Securities […]
Goldman Sachs has launched a new FICC Systematic Market Making (SMM) unit. SMM will consolidate its e-trading assets and capabilities across FICC. The move was reported in an internal memo as reflecting changes in market structure and client needs. The memo, signed by several executives including group chief information officer Martin Chavez, says, “Our ability to […]
Aite Group has promoted Virginie O’Shea to research director of the institutional securities and investments practice.
The Bancorp has appointed Sepideh Behram senior vice president, chief compliance officer.
Louise Roseman, director of the division of reserve bank operations and payment systems, will retire later this year after more than 30 years of service to the Federal Reserve Board, including 17 as director.
First Data intends to establish a research and development center in Ireland that will house up to 300 skilled employees to centralize work on a number of the company’s leading technology platforms.
MasterCard has appointed Alexander N.M. Niejelow senior vice president of public policy.
Shazia Manus, CEO of payments processor The Members Group (TMG), has been named one of the 2016 Most Influential Women in Payments.
Andrew Siden recently has been named to the NBPCA’s board of directors.
Oh the irony. On the same day President Barack Obama and his administration presented plans to strengthen the country’s cybersecurity, the IRS announced an attack on its Website.
A U.K. government panel is calling for the development of an open banking standard that will enable banking data to be shared and used securely, giving consumers access to tailored financial solutions and an easier way to compare products and services.
Police in Louisville, Ky., have arrested nine people for allegedly running a fraud ring centered around gift cards.
The European Commission has put markets out of their suffering by finally confirming a one year extension to the entry into application of the revised Markets in Financial Instruments Directive, or MiFID II. The extension has been made to overcome technical implementation challenges faced by both regulators and market participants. The new deadline is 3 […]
FIS, the financial services technology provider which acquired SunGard at the end of 2015, has predicted organic revenue growth of between 3% and 4% in 2016. It reports that 2015 revenue grew by 3% over 2014 to reach US$6.6 billion. “The resilience of our business model characterised by highly recurring revenues and operational efficiencies allowed us […]
Knowledge is power. And, that’s particularly true for merchants and marketers that want to track consumers from online ad campaigns to in-store purchases. Arming merchants with the right knowledge is the goal of Discover’s Merchant Data Platform.
Markit has acquired systems integration software developed by JP Morgan. The provider of financial information services will make the software available to buy- and sell-side institutions seeking to integrate with major systems used in the syndicated loan market, including agent servicing platforms and Markit’s trade settlement services. Facilitating systems integration is an important step toward […]
Visa is introducing a new service to help Visa issuers empower consumers to monitor and control how, where, and when their Visa credit, debit, and prepaid accounts can be used. It provides real-time visibility and control over their accounts so consumers can take immediate action to protect themselves from security threats and fraud. Visa Consumer […]
Tandem Bank has selected the Agiliti technology platform from core system provider Fiserv. The bank received its banking license on 30 November 2015, and is expected to launch later in the year. Focussing on creating what it calls a ‘good bank’ with a heavy emphasis on the needs and behaviours of its customers, it will […]
Visa’s newest service enables prepaid and other cardholders to exercise more control over their accounts via spending controls and alerts. Issuers can choose to offer the service to customers.
Four more startups have been selected for the Commerce.Innovated. program. The companies represent the fourth class chosen by MasterCard and Silicon Valley Bank as part of a program to help startups get their products and services off the ground.
Bitcoin continues to encounter hurdles as its supporters try to facilitate the digital currency’s mainstream acceptance. Though certain states and countries are welcoming bitcoin, or permitting it with certain provisos, Russia is considering a ban.
Green Dot and subsidiary Santa Barbara Tax Products Group have announced a pair of promotions to make this time of year less taxing on consumers while helping independent tax preparers get more customers coming through their doors. One of the promotions involves up to a $750 free advance toward consumers’ tax returns.
Visa wants to strengthen its commerce offerings by opening up its technology treasure chest to software developers bent on improving consumer experiences. The payment network has launched Visa Developer, an “open platform that gives application developers access to Visa’s payments technology, products and services.”
The money keeps rolling in for fintech. Fit Pay, a wearable payment technology startup, raises $3.1 million in seed capital, while distributed ledger technology companies collectively have raised $103 million.
Cybercriminals continue to target payments providers and retailers, with Gyft and Neiman Marcus among the latest firms to announce separate data breaches. The attacks highlight two major data security issues facing financial providers and retailers: third-party security and the migration of fraud to online accounts as a result of enhanced POS security brought about by the arrival of EMV.
To succeed as a startup hub Switzerland may need to focus on developing a hub for senior entrepreneurs within the financial industry. That is one suggestion stemming from a new report into the country’s capacity to become an innovation hub for fintech firms, published by consultancy EY and the Swiss Finance and Technology Association, entitled […]
Trade Bank of Iraq (TBI) is working with core banking technology provider Misys to upgrade to develop a digital platform. Misys reports it has previously run two major projects with TBI in 2003 and 2009. The bank, claims to have introduced the market’s first ATM solutions and Visa and Mastercard offerings and is set to […]
The European Central Bank has selected connectivity provider SIA, in partnership with telco Colt, for its connection to TARGET2-Securities (T2S), the delayed centralised European platform for the settlement of domestic and cross-border securities transactions. The European Central Bank is expected to migrate to SIA and Colt’s value-added network infrastructure in June 2016. The two companies will also provide the ECB with a message processing […]
The European Securities and Markets Authority (ESMA) has published its 2016 supervisory priorities for credit rating agencies (CRAs) and trade repositories (TRs). The regulatory authority reports seeing a number of changes in the CRA and TR industries during 2015, with new applicants for registration in both sectors, and current authorised entities seeking to develop their […]
Visa Developer, will offer software application developers will open access to Visa’a payments technology, products and services. The new Visa Developer platform is designed to help financial institutions, merchants, and technology companies meet the demands of consumers and merchants, who increasingly rely on connected devices to shop, pay and get paid. At launch, the new […]
European Central Bank (ECB) figures appear to show that cashless payments transaction volumes in 2014 remained flat at 68 billion payments. However, Deutsche Bank analyst Heike Mai, who specialises in payments and shadow banking, has published a report that corrects this conclusion. Entitled ‘Payments in the euro area: Are they stagnating? – No!’ the report […]
At Super Bowl 50 on Sunday, Visa will promote contactless payments at concession stands and in-seat mobile ordering for fans who don’t want to miss any action. Ingenico also announces a big terminal deal for the game.
Fifth Third Bank is introducing Touch ID biometric capabilities to its mobile banking app for the iPhone. Touch ID allows fingerprint authentication for enabled devices, letting customers log into their Fifth Third app with their fingers or thumbs instead of a password. The Bank’s fast mobile app allows people to check balances, transfer funds and […]
ABN AMRO is offering ‘webcare’ via Snapchat, the self-deleting message and picture service, which has 1 million Dutch users. Jeroen van de Ven, ABN AMRO Social Media Manager: ‘If a specific target audience opts for a new channel in such large numbers, we as a bank have to adapt, in an accessible way that fits […]
Western Union continues to extend its digital reach with access to approximately 664 million users of mobile messaging app Viber, which enables its customers to send free text messages, photos, videos and make free calls with its push-to-talk capability, among other features.
Pin4, a cardless ATM withdrawal system, could expand to some 70,000 U.S. cash machines by the third quarter of 2016, up from approximately 15,000 in the first quarter of 2016, says CEO Richard Witkowski.
Investment manager AllianceBernstein is working with Interactive Data, to help evaluate its trade execution quality and perform transaction cost analysis (TCA). The work will be done across various mutual funds and separately managed portfolios using Interactive Data’s Best Execution (Best Ex) service. The service leverages its Continuous Evaluated Fixed-Income Pricing to run TCA for fixed-income […]
Fixed income market operator Tradeweb has launched an electronic over-the-counter (OTC) marketplace for US-listed exchange traded funds (ETFs). The firm says the platform tackles some of the challenges inherent in institutional OTC trading such as pre-trade price transparency, operational efficiency and access to institutional-size liquidity. Tradeweb clients will be able to use the platform to […]