Canada’s leading payments players have formed an industry group to support the fast-paced development of the country’s prepaid sector. The Canadian Prepaid Providers Organization (CPPO) plans to spread awareness and education about prepaid products and serve as the collective voice for the Canadian open-loop prepaid industry.
Eleven financial associations have published their support for a new set of derivatives reporting standards developed by ISDA, which is calling for greater cross-border harmonisation of data standards – even if that means some national laws will have to be amended.
The London Stock Exchange has obtained approval for Hong Kong companies to become members. Previously, only companies from the European Economic Area and Israel could join.
Seven and a half years ago, I wrote my first communication as the CEO of Paybefore, and now I’m writing my last. I’ve made the very difficult (but exciting) decision to retire from Paybefore.
The agency is collaborating with tax preparation software firms, payroll and tax financial product processors and state tax administrators on the initiative to stem the growing problem of ID-related tax fraud.
The Bancorp, a major provider of prepaid card services in the U.S. and Europe, is extending open-loop mobile contactless payment capabilities to its clients in the region through a new partnership with mobile payments company MeaWallet.
MasterCard is extending its digital enablement services (MDES), which provide digital tokens, to store-branded credit cards and merchant card-on-file programs, including apps, e-commerce sites and recurring billing services.
Banking by mobile phone and tablet has become the primary way UK customers manage their finance, according to new research published by the British Bankers Association.
Swift has published a best practice guideline for implementation of ISO 20022 for financial institutions, based on experience gleaned through its involvement in more than 150 consulting projects for more than 70 clients across the globe.
TABB Group forecasts global compliance spending among capital markets firms will some increase 7.5% to 8% in 2015, reaching $2.592 billion , and growing at a similar pace for 2016, driven by global regulations that require institutions to expand coverage, enhance existing capabilities and standardise compliance solutions and processes.
Blackhawk Network is bolstering its employee incentives business with its latest acquisition, the fifth in the space since 2013.
Clearing costs at Nasdaq’s new NFX futures venue will be half those on rival CME, the exchange claims. NFX is due to launch later this summer.
The NBPCA today awarded its inaugural Terrence P. Maher Prepaid Influencer Award to MetaBank Senior Vice President and Chief Legal Officer John Hagy.
A multi-agency federal regulator report concluded that the CFPB and prudential regulators are “generally” coordinating their oversight activities pertaining to consumer financial laws, consistent with the Dodd-Frank Act and the provisions of a MOU (memorandum of understanding) governing coordination activities.
Nine startups dedicated to helping households better manage their finances on a tight budget have been selected as winners of the inaugural Cash Flow Management Competition, held by the Center for Financial Services Innovation (CFSI) and JPMorgan Chase’s Financial Solutions Lab (FinLab).
Citizens Bank is moving its back-end technology infrastructure to a managed services environment following the signing of a five-year IT services agreement with IBM.
As the European Commission’s MiFID II legislation moved towards implementation of technical standards, some of Europe’s national regulators are seriously worried that mandatory open access to CCPs may not be such a good idea. Concerns about the ability to manage risk and the ability to effectively handle data were highlighted by speakers at the IDX FIA conference in London yesterday.
Swift has formally launched a new business intelligence solution for securities market participants following the completion of an early adopter programme. Watch for Securities is “ready for full scale use” by local and global custodians, investment banks, asset managers and broker/dealers, allowing them to monitor and gain business insights from their network traffic.
Banking Up, which enables businesses and financial institutions to deploy consumer retail banking services, has appointed Stephen Vogel CEO.
AFS/IBEX, a division of MetaBank, has hired two senior sales executives. Both are long-time veterans of the premium finance industry.
UAE-based payments processor Global Processing Services (GPS), which recently was named a One to Watch: Company in Paybefore Awards Europe, announced that Suresh Vaghjiani has joined its senior management team.
The International Payments Framework Association (IPFA) has appointed a new management team and expanded its focus to include instant or real-time payments.
Limonetik, a Paris-based global digital payments provider, has been included in the list of “Cool Vendors” in the “Digital Commerce, 2015” report by consulting firm Gartner Inc.
Locke Lord LLP’s Robert Courtneidge, global head of the cards and payments practice, placed No. 1 in the Payments 2015 Power 10 rankings.
MasterCard has announced two new appointments in the Asia-Pacific region: Vincent Patru takes on a new role as key account lead, emerging payments, Asia-Pacific, and Philip Glickman joins MasterCard as head of commercial products and solutions, Asia-Pacific.
Prepaid program manager UniRush LLC has hired Stephen Middlebrook as general counsel and chief compliance officer.
Wolters Kluwer Financial Services announced that former federal regulator Sandra Braunstein will provide compliance management and Community Reinvestment Act consulting services to the company’s U.S. banking clients.
The Shanghai-Hong Kong Stock Connect link has made significant in-roads in the opening of China’s capital markets to international trading but barriers to participation, including restricted trading strategies, introduce risk and create operational complexity. The long-term success of the venture hinges on removing these barriers, according to a study carried out for the DTCC.
Karla McKenna has been named head of standards at the Global Legal Entity Identifier Foundation on a year’s secondment from Citi, where she is director of market practice and standards.
Global regulators are struggling to find the balance between recognising each other’s existence and learning to harmonise and coordinate their activities, and protecting domestic national economic stability. But people who can’t accept that there will be some differences in regulation between Asia, Europe and the US are not realistic, according to Timothy Massad, chairman of the Commodity Futures Trading Commission.
Apple Pay is coming to the U.K., but it’s unclear whether Apple is adjusting its business model to entice issuer participation as it moves across the pond.
Consumers in Canada and the U.K. this week will have access to PayPal’s One Touch for Web payment app, enabling them to pay for purchases with one click after logging in.
Many Russians today are paying for goods and services with e-money or have at least heard of the payment method, according to a study by research agency TNS Russia.
The FDIC draws attention to a standard fraud claim without offering much guidance.
Industry association FIA Europe is calling on regulators to make changes to derivatives laws, including amendments to Basel III and MiFIR, as well as EMIR reporting obligations. The association argues that without the changes it is advocating, the viability of some of the new rules will be at risk.
Saxo Payments is collaborating with First Data to reduce costs and improve the speed of global transactions for First Data clients through a secure web interface through they can manage cross border transfers.
Apple Pay will be available in the UK from next month, with eight of the UK’s most established banks and the major credit and debit card networks supporting it – along with Transport for London.
Demand for improved customer service and new mobile banking and payments services is driving increased hiring in financial services in the UK, with employment prospects 16 percentage points higher than a year ago, according to Manpower Group,
In the latest move to blur the lines between social media and e-commerce, popular social sharing site Pinterest will enable users to make purchases through its platform.
The U.K. might not be a cashless society by 2020, but Visa Europe research predicts mobile payments will help displace cash as they gain popularity.
