People on the Move: Jeff Lipa, Arroweye Solutions
Card marketing and production service provider Arroweye Solutions has named Jeff Lipa vice president of business development.
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People on the Move: Steven Turowski, The Bancorp
The Bancorp has hired Steven Turowski as executive vice president, chief risk officer.
Company on the Move: Global Transaction Banking Solution, formerly Fundtech
DH Corp., a provider of technology solutions to financial institutions globally, announced that it has rebranded Fundtech as its new Global Transaction Banking Solution (GTBS) business.
Company on the Move: Ingenico Group, Smart Card Alliance Recognition
Ingenico Group, a global payment solutions provider, has received the Smart Card Alliance “Center of Excellence” designation for 2015—its second year in a row.
People on the Move: Thomas Tesmer, JetPay Payment Services
JetPay Payment Services, a division of JetPay Corp., has appointed Thomas Tesmer chief operating officer.
People on the Move: Will Gaybrick, Stripe
Stripe, which specializes in mobile and online payments technology, has appointed Will Gaybrick chief financial officer.
People on the Move: Pam Brodsack, The Members Group (TMG)
Payments processor The Members Group (TMG), a credit union service organization, has hired Pam Brodsack as chief technology officer.
People on the Move: Jack Dorsey and Adam Bain, Twitter Board
Twitter’s board of directors has appointed Jack Dorsey CEO and named Adam Bain chief operating officer.
CPI Card Group and Worldpay Go Public (Oct. 13, 2015)
CPI Card Group rang the bell to open Friday trading, signifying the Littleton, Colo.-based card producer’s initial public offering. The company is trading its common stock on the Nasdaq Global Select Market (ticker symbol: PMTS) and the Toronto Stock Exchange. “This is an exciting time for us, our shareholders, our customers and our employees, as […]
IDology Inc. Forges Strategic Partnership with Payfone to Increase Mobile Commerce Security (Oct. 13, 2015)
Atlanta-based IDology Inc., is augmenting its ammo to battle against fraudsters in the mobile payments and e-commerce channels with a strategic investment in Payfone Inc., combining IDology’s online identity verification and fraud prevention services with Payfone’s mobile security services with a new service, ExpectID Mobile, to verify customers’ identities in the mobile space.
Millennials Stressed, but Confident about Money (Oct. 13, 2015)
Money is a significant source of stress among millennials, with financial concerns affecting their emotional and physical well-being, personal relationships and work performance, a new report says.
SETL breaks through 1 billion transactions per day on blockchain
SETL, the institutional payment and settlement infrastructure based on blockchain technology, claims to have which has broken the 1 billion transactions-per-day capacity barrier for blockchain movements in a test network.
Infrastructures back Swift ISO 20022 harmonisation proposals
Major financial market infrastructures (FMIs) and central banks have thrown their weight behind a Swift initiative to prevent further fragmentation of the ISO 20022 messaging standard as its adoption grows by signing a charter backing principles to harmonise implementations.
Half of UK online transactions now made on a mobile device
Mobile transactions continue to increase their share of the market, accounting for up to half of online transactions, according to a new report by global payments technology company Adyen.
MasterCard Exec Sees ‘Network of Wallets’ as M-Payment Options Expand (Oct. 8, 2015)
The recent surge of mobile payments services including Apple Pay, Android Pay and Samsung Pay is impressive, but what’s more significant is that payments-enabled mobile devices are on track to expand tenfold over the next five years, creating major challenges and opportunities for developers of consumer digital wallets, said Matt Barr, MasterCard’s group head, North America, emerging payments, speaking at this week’s NFC Solutions Summit in Phoenix.
Samsung’s LoopPay Breached; Verizon Supports Samsung Pay (Oct. 8, 2015)
There’s never a good time for a data breach, but yesterday it was reported that LoopPay, a subsidiary of Samsung Electronics Co., suffered an attack on its network.
European Parliament Passes PSD2 by Landslide (Oct. 8, 2015)
The yeas have it. The European Parliament today has passed the second major payments regulation in 2015, with 578 votes in favor of the Revised Payment Services Directive (PSD2).
Green Dot Teams Up with Celebrity Steve Harvey (Oct. 8, 2015)
Steve Harvey will be promoting all products issued by Green Dot Bank as part of a multiyear marketing partnership, Green Dot announced today.
Defendants Appeal Judge’s Refusal to Dismiss McDonald’s Class-Action Suit in PA (Oct. 8, 2015)
Two McDonald’s franchise owners have appealed a judge’s refusal to dismiss a class-action lawsuit alleging they illegally mandated employees be paid via prepaid cards.
PMPG endorses Swift messages for intraday liquidity reporting
The Payments Market Practice Group has endorsed the use of Swift messages for intraday liquidity reporting. The Swift message set for intraday liquidity reporting underpins a rulebook created by the Liquidity Implementation Task Force, an industry group of twenty five large clearing banks, custodian banks and global brokers, to support compliance with Basel Committee on Banking Supervision requirements.
Deutsche creates FX index based on Autbahn data
Deutsche Bank’s Research unit is launching a new set of proprietary foreign exchange positioning indices based on data from its Autobahn FX trading platform. Called Corax – Categorised ORderflow from Autobahn FX – the indices will be published every Wednesday in the Corax Positioning Report.
Visa Exec: Convergence of Payments with Commerce Is Industry’s Next Challenge
The convergence of mobile payments and commerce will be the payoff for merchants investing in m-payments technology, but the payments industry has a lot of work ahead to help marry payments with the shopping experience to enrich consumers’ experiences, Phil Kumnick, senior vice president of global acquirer processing for Visa Inc., told attendees today at the NFC Solutions Summit in Phoenix.
CFPB Draws Line in Sand Regarding Arbitration Clauses (Oct. 7, 2015)
Prior to today’s field hearing in Denver, the CFPB has announced it’s considering proposing rules that would restrict consumer financial companies from using certain types of arbitration clauses that block consumers from forming class action lawsuits to obtain compensation.
ECJ’s Takedown of Safe Harbor Spells Trouble for U.S. Firms (Oct. 7, 2015)
Europe’s top court has struck down a longstanding agreement that enabled U.S. companies to handle the personal data of users in the European Union without being subjected to EU privacy rules, in a decision that will significantly affect not only tech giants like Google and Facebook, but payments and financial services companies, as well.
Thomson Reuters opens Eikon with app studio
Thomson Reuters has launched an app studio for its Eikon financial desktop, which will allow third-party developers to create create apps that display as native applications on the Eikon screen, distributing them directly to Eikon users.
Standard Chartered opens new Malaysian office
Standard Chartered Bank, has opened a Global Collective Intelligence and Command Centre at Technology Park Malaysia, which aims to develop new technology to improve banking services. The centre is staffed with software engineers, operations specialists and service partners, co-located in a 33,000 square feet fully-digitised and secured environment. “Defining and implementing our digital aspiration is a […]
CFPB Hearing on Arbitration Tomorrow (Oct. 6, 2015)
The controversial prospect of new regulations for arbitration agreements will be front and center during a CFPB field hearing on the matter tomorrow morning in Denver.
NFC Pulling into Bay Area Chevron Stations (Oct. 6, 2015)
Mobile payments’ drive into the fuel station sector continues, with Visa Inc. announcing a new NFC pilot at more than 20 Chevron stations around San Francisco and Silicon Valley.
Non-Cash Transaction Growth Surges Worldwide, Surpassing GDP in All Regions (Oct. 6, 2015)
The rise of mobile and contactless payments technology caused non-cash payment volumes to soar last year, surpassing the growth rate of GDP in all worldwide regions, according to a new report from Capgemini and the Royal Bank of Scotland.
EBA Clearing Launches RFP for Pan-European Real-Time Payments Service (Oct. 6, 2015)
EBA Clearing, a bank-owned provider of European payment infrastructure solutions, this week announced an RFP to build the framework for a pan-European service that could support real-time payments within the next two years.
Goldmans, JPM and Morgan Stanley plan reference data utility
Goldman Sachs, JP Morgan and Morgan Stanley are building a reference data utility with SmartStream, which they say will provide data normalisation and validation for all asset classes. The project aims to reduce costs for consumers of data in capital markets by economies of scale.
PayThink: A ‘Killer App’ for M-Payments Is Coming (Oct. 5, 2015)
Mobile payments development has exploded with the arrival of Apple Pay, Android Pay and Samsung Pay, but it will take “organic demand” from consumers to drive broad adoption of mobile wallets, according to payments experts speaking at PayThink last week in Las Vegas.
Gyft Releases Workplace Survey Stats; Launches B2B Bulk Gift Card Program (Oct. 5, 2015)
Employers need to “step up their gifting game” with the holiday season approaching, according to the latest research from Gyft. The First Data company released the findings to coincide with its launch of a B2B bulk gift card purchasing program, enabling businesses to conveniently reward their employees with gift cards from more than 200 retailers.
Funding Roundup: Adyen, SoFi, Chillr Land Investments (Oct. 5, 2015)
Emerging payments and fintech continue to draw investment dollars. Dutch payments processor Adyen has landed financing from a fund comprised of some of the biggest names in Silicon Valley, while alternative financing startup SoFi pulled in $1 billion in what the company is calling the biggest fintech investment to date. Meanwhile, mobile money transfer kept up its hot streak as Sequoia Capital got in on the ground floor of an India-based P2P app.
Nedbank South Africa revamps payments ahead of September 2016 deadline
South Africa’s Nedbank has chosen Volante Technologies to help it revamp its payments message service using VolPay Foundation, which focuses on validating and processing payments. The move comes ahead of regulatory change next year, which will force all South African institutions to change the way they handle payments.
Challenger banks line up to join Faster Payments through new access model
Three challenger banks have committed to take advantage of a new way to guarantee settlement between banks of payments made through Faster Payments, the UK’s 24/7 real-time payments service, when it becomes available next year.
Technology fragmentation imposes testing burden on banks
As banks increasingly digitalise and provide mobile services to user’s mobile devices they face the double-whammy of having to test software that has to run on multiple environments and doing it in an increasingly short time-scales as continuous release development cycles become the norm.
First Data Aims to Raise $3B with October IPO (Oct. 1, 2015)
Although it may not be as large as analysts initially predicted, First Data Corp.’s IPO could be the largest public offering of 2015.
EMV: Third Time’s a Charm?
I recently received my EMV debit card from a top 5 U.S. issuer.Tell us about your experiences with EMV at the POS.
Rep. Tipton, CFPB Director Cordray Square off on Prepaid (Oct. 1, 2015)
Rep. Scott Tipton (R-Colo.) and more than 40 other lawmakers are urging CFPB Director Richard Cordray to be cautious in prepaid rulemaking and to make sure the government Direct Express program is not adversely affected by the forthcoming rule.
