Alibaba Could Open Apple Pay’s Door to China (May 12, 2015)
Two of the biggest names in global commerce are exploring a partnership that could bring Apple Pay to China.
News
Mitek Verifies Consumers with the Snap of a Driver’s License (May 12, 2015)
Mitek Systems has unveiled authentication technology, which it says will improve customer acquisition efforts by enabling issuers to instantly verify a consumer remotely or in a brick-and-mortar bank location using a driver’s license.
Chase: 65% of Consumers in the Dark about Chip Cards (May 12, 2015)
With less than six months to go before the October 2015 EMV liability shift for U.S. payment cards, 65 percent of consumers haven’t yet heard of chip card technology and 77 percent have not received a chip-enabled card, according to a survey.
People on the Move: David Durant, YapStone
YapStone, a global provider of Web and mobile payment technology solutions for large vertical markets and online marketplaces, named David Durant general counsel.
Nasdaq to introduce blockchain for private equities
Nasdaq is to use the blockchain technology behind controversial alternative currency Bitcoin, as part of a push to improve the exchange’s equity management abilities. The move is the first time a major global exchange has put the blockchain concept to use.
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.
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.
UK card transactions top 1 billion per month as debit card use soars
UK consumers are spending more on their payment cards than ever before, with over a billion transactions in February, according to newly-released figures provided by the UK Cards Association.
Halifax doubles mobile user base in a year
UK retail bank Halifax reports that two-thirds of its customers are now using mobile to login, doubling the number of mobile banking sessions compared to a year ago.
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.
Lima Exchange sets sights on LatAm expansion with LSE platform
As Peru rapidly grows its economy, the country’s Bolsa de Valores Lima exchange hopes to turn itself into a regional hub for international investors. To that end, the exchange has gone live with a new trading platform, built by the London Stock Exchange’s MillenniumIT subsidiary.
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.
US lags on EMV card adoption as October deadline looms
EMV card usage is increasing almost everywhere in the world as a billion new EMV cards enter circulation – but the US continues to lag behind, despite the fact that liability shifts to the retailer from 15 October this year.
Cerutti out as Euronext appoints interim chief executive
Euronext has appointed Jos Dijsselhof as interim chief executive, accelerating its transition plan following the resignation of Dominique Cerutti at the end of last month. Cerutti will now leave immediately.
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.”
Banks face “mad rush” to prepare for MiFIR
Financial institutions will need to maintain records, report transactions and supply reference data under the European Commission’s forthcoming MiFIR regulation. But those who expect plenty of time for implementation and no regulatory conflicts are likely to be disappointed, according to a new report by analyst firm Aite.
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.
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.
Retail banks face falling customer satisfaction and loyalty globally
At first glance the message for banks from the latest World Retail Banking Report 2015 looks like very bad news for traditional banks. Globally, customers’ propensity to leave their primary bank is on the rise while their willingness to make referrals or buy additional products from their primary bank has decreased significantly.
ABN Amro extends Temenos relationship to private banking
ABN Amro plans to implement the Temenos WealthSuite integrated wealth management platform for its international private banking business. It will also be able to extend the use of the T24 core system to its private banking and diamond & jewellery business, giving it one platform with one operating model across multiple business lines.
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.
