Google this month extended its Gmail-based money transfer feature to the U.K., marking the search giant’s first P2P foray outside the U.S. If successful, the move could help Google expand awareness of Google Wallet internationally before Apple Pay makes its expected move into the U.K. and other global markets, observers say. Apple Inc. CEO Tim […]
Swiss private banking group Julius Baer has chosen Temenos for a major core banking system replacement project intended to progressively modernise its front and back office systems globally.
The NBPCA has hired Brad Fauss as its executive vice president and general counsel and promoted Brian Tate to vice president, government relations.
US Commodity Futures Trading Commission Commissioner J. Christopher Giancarlo has condemned the CFTC’s implementation of swaps trading regulation reforms, describing its approach as highly over-engineered, disproportionately modelled on the US futures market and biased against both human discretion and technological innovation.
In a Jan. 27 letter to U.S. Rep. Sean P. Duffy (R-Wis.) and several other members of Congress, CFPB Director Richard Cordray said the agency would give the lawmakers’ request for a 60-day extension to the comment period for its prepaid NPRM “serious consideration.” But the rest of the letter suggests that the agency feels 130 days since the proposal went up on its Website will be adequate for stakeholders to comment.
Critics of the DOJ’s controversial Operation Choke Point, which encourages financial institutions to scrutinize clients that operate certain types of businesses, such as payday lenders and firearms sales, may welcome the latest news from the FDIC.
The blazing sales rate of Apple Inc.’s new iPhones during the final quarter of 2014 shattered the company’s own expectations, and Apple Pay’s rollout was “extremely positive,” helping drive historic revenues, Apple’s CEO Tim Cook told analysts this week.
China-based e-commerce retailers have a new way to accept online payments.
Banks in North America are ramping up IT spending on retail banking services and digital channels this year, with total IT spend expected to reach $64.8 billion by 2016, according to a new report by analyst firm Celent. The figures represent a 4.5% increase this year, as financial institutions increasingly turn to external software provider and specialists to bolster their abilities.
BNY Mellon and State Street have announced a collaboration with Eurex Clearing, the subsidiary of Deutsche Börse Group, to enhance the Eurex service to meet the needs of beneficial owners, and explore expanding its geographic reach into the US.
Mozido, a cloud platform mobile payments and retail engagement solutions provider, this week announced it has named Ron Hynes, as president global markets.
Debit/ATM network PULSE has unveiled a new corporate logo and acceptance mark.
The CFPB has announced three new additions to its senior leadership team.
eBay Inc. has announced the appointments of Perry Traquina and Frank Yeary to its board of directors.
U.S. Rep. Patrick McHenry (R-N.C.) has been named by House Financial Services Committee Chairman Jeb Hensarling (R-Texas) to serve as the vice chairman of the full committee for the newly seated 114th Congress.
Marc Winitz has joined payment card processor i2c Inc. as the company’s chief marketing officer.
Mercury Payment Systems, a Vantiv company that provides payments technology and services for small and midsize businesses, has received two awards for its customer service.
paysafecard, a global provider of prepaid online payment methods and member of the international Skrill Group, has hired Jan Marc Külper as the company’s vice president of business development.
Payments services and processing provider PreCash Inc. has promoted Blair Jeffrey to chief operating officer.
Senate Banking Committee Chairman Richard Shelby (R-Ala.) has announced the incoming chairs of the Senate Banking Committee’s subcommittees.
John Walsh, CEO of risk management and AML advisory firm SightSpan Inc. and Cyrus R. Vance Jr., the District Attorney of New York County, will present on topics related to financial crime risk management, including corporate security and counter-terrorist financing, at this year’s ACFCS Conference in New York City in April 2015.
D. Reed Freeman Jr. has joined law firm WilmerHale as a partner and co-chair of the firm’s cybersecurity, privacy and communications practice.
Vantiv Inc., a provider of payment processing services and related technology solutions for merchants and financial institutions, has announced that Kim Martin will join the company as chief human resources officer.
A new bank-run mobile payment service is set to launch in Poland next month, following collaborative efforts between six Polish banks. The new service will allow customers to make payments in stores and online, withdraw cash and send P2P transfers, all using their mobile phone.
Prepaid issuers aren’t the only ones confused by the potential implications of the FDIC’s recent FAQs on brokered deposits. The agency offered some clarifications to ABA staff but recommends issuers reach out to their examiners with specific questions.
The Chinese renminbi has become one of the world’s top five payments currencies, according to new figures released by Swift. The currency, first introduced to foreign investors in 2007, overtook the Canadian dollar and the Australian dollar in the last two months of 2014 to reach the top five.
Iceland’s Reikninstofa Bankanna, which is jointly owned by the three main banks in Iceland, has opted for a full core bank replacement project which it says will help it to slash its costs and bring new services to the market more quickly.
Apple Pay clearly has awakened consumer curiosity about mobile payments, but the surprise is it’s also generating unprecedented retailer interest in adding NFC acceptance at the POS, according to payments industry panelists speaking yesterday at the Mobile Payment Leadership Summit in Phoenix.
The Center for Financial Services Innovation (CFSI) has expanded its Compass Guide series with today’s release of its Compass Guide to Payroll Cards, which it says defines best practices and product features for high-quality payroll cards.
M&A activity and global expansion of prepaid continue this week with Toronto-based gift card processor Givex announcing plans to acquire Chase Paymentech’s gift card business and open an office in Dallas. Meanwhile, U.K.-based Tuxedo Money Solutions is partnering with Silicon Valley-based processor i2c Inc. for international expansion of its prepaid business, including entering the U.S. market.
The Federal Reserve this week issued a new report, “Strategies for Improving the U.S. Payment System,” outlining a plan to enhance the overall speed, safety and efficiency of the nation’s payment system with collaboration from payment industry participants including businesses, payment card networks, processors, payment technology firms, consumers and financial institutions.
Securities market regulators are beginning to clamp down on market abuse linked to complex high-frequency trading strategies – but there is much more to be done, according to a new report by financial consultancy Kinetic Partners.
The National Technical Information Service has extended by 60 days the comment period for its proposed rule to establish a certification program for access to the Death Master File. The new deadline is March 30, 2015.
Apple Pay continues to make major inroads just three months into its existence, Samsung preps to challenge and Google gains 200,000 online merchants.
Ditching high-overhead bank branches in favor of mobile-centric financial services is an idea that’s catching on across geographies. The latest entrant is Berlin-based startup Number26, which provides a mobile app and debit MasterCard, real-time transaction records, email or text-based P2P transfers and app-based card management, as well as foreign transactions—all at no cost.
Bitcoin-wallet provider Coinbase today announced the launch of what it describes as the first regulated bitcoin exchange based in the U.S., adding some stability to the much-hyped and often maligned digital currency.
Microsoft founder Bill Gates and his wife Melinda are betting that mobile banking is one of four transformative events that will improve the lives of the world’s poorest citizens by 2030.
Brazil’s capital markets IT spend is expected to reach $2.6 billion by 2017 as the country seeks to modernise its financial institutions, improve post-trade processing and integrate with global markets. The transformation creates both challenges and opportunities for foreign financial services companies in Latin America’s largest market, according to a new report by analyst firm Celent.
Buy-side block trading network Liquidnet has launched a new platform called Liquidnet 5, which it says will help to cut down on conflicts that might affect best execution. The move is part of a wider shift as the buy-side seeks to claim more independence from the sell-side.
With the newly seated 114th Congress in its third week, the House Financial Services Committee (HFSC) has laid out its agenda for the upcoming term, including several items with potential implications for the prepaid and emerging payments industry.
