Nine fledgling fintech companies have won $250,000 each from the Center for Financial Services Innovation, or CFSI. At least week’s Emerge Conference in New Orleans, CFSI announced the FinLab winners from more than 300 applicants.
Flexibility and transparency are key to the first pan-European instant payments scheme, states Javier Santamaria, chairman of the European Payments Council (EPC). Currently, instant payments in Europe operate only within the borders of individual countries or among customers of the same payment service providers (PSPs). To move away from this fragmentation, the EPC was invited […]
While industry observers think Apple Pay adoption hasn’t yet hit a critical mass, the mass it has hit (with 1 million more users added each week) makes it a substantial alternative to the use of contactless payment cards. But more importantly, it’s what’s still to come from Apple that retailers (and others vying for mobile wallet share) can’t afford to ignore.
Tapping into the IoT trend requires financial services providers to consider the use case for each device and make sure the information and capabilities are relevant. Irrelevant information will at best be ignored and at worst lead consumers to disengage.
Samsung Pay has launched in Australia, enabling mobile payments for consumers, but the hardware maker wants its mobile wallet to encompass much more, including gift cards, loyalty and transit.
Apple is about to make it easier for its users to shop online, and the move will put Apple Pay in direct competition with PayPal, Amazon and the networks’ online payments services for the loyalties of online shoppers.
It’s a bird. It’s a plane. No, it’s Supercard, a MasterCard prepaid card and accompanying mobile app catering to U.K. consumers traveling abroad. Supercard, developed by Wirecard AG and Travelex, enables travelers to earn rewards on the cards they want—except for American Express cards—without paying the typical international transaction fees.
Visa Europe and its innovation hub, Visa Europe Collab, have teamed up with visual discovery and augmented reality app Blippar to bring augmented reality to payments. The new e-commerce solution, unveiled at a recent fashion show in London, enables designer garments to be instantly purchased straight off the backs of models. The pilot fashion brand […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Goldman Sachs to underpin new digital bank with Infosys tech It’ll be the e-Finacle digital banking platform, Banking Technology understands. Infographics: The Euro 2016 guide to e-commerce In the spirit of that football tournament that starts today, we’ve got an e-commerce […]
MCX, led by a consortium of large retailers such as Walmart, Target and Best Buy, has announced it’s ending the beta test of its mobile payments service CurrentC, and accounts will be deactivated June 28.
Not all Olympic athletes will be coming home from the Rio 2016 Olympic and Paralympic Games with medals around their necks, but they’ll be coming home with rings on their fingers. The first contactless payments ring linked to a Visa-branded GPR account will be given to approximately 45 athletes that are part of Team Visa.
Ride-hailing service Uber has expanded a pilot partnership with Green Dot to all markets in which Uber operates in the U.S.
With two thirds of people now owning a smartphone in the UK, demand is high amongst consumers to have connectivity at their fingertips. Add to this the fact that 39% of adults have at least one banking-based app, and it presents a real opportunity for banks to serve engaging content to the many consumers who are […]
We’ve been hearing a lot about the demise of MCX since it announced yet another launch delay of its CurrentC app to focus on deals with financial institutions. While this move is clearly a pivot for MCX, it’s way too early to call the organization dead. In fact, we should be calling MCX a roaring success.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
For card manufacturers like CPI Card Group, the U.S. transition to EMV continues to be a top priority. But broader trends like the rise of e-commerce and wearables also are shaping a business that goes well beyond plastic.
The U.S. Postal Service (USPS), striving to overcome inefficiencies and profitability that’s historically been much more often in the red than in the black, is exploring the use of blockchain technology to improve current services, provide new services and improve operations.
Consumer fraud concerns and the popularity of mobile messaging apps likely will secure prepaid a firm spot in future commerce, according to Martin Koderisch, a manager at Edgar, Dunn and Company (EDC) during a recent Webinar entitled “Prepaid Payments in the Digital Age.”
PayPal will shut down its business in Turkey on June 6 after regulators there denied the online payment processing service a new license.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Swift hacks sees 12 more banks under attack A fast moving chain of events. High five for Apple Pay in Singapore Big banks onboard include OCBC and Standard Chartered. NYSE launches new trading tech platform, NYSE Pillar The […]
Wells Fargo will launch its mobile wallet this summer, giving consumers using Android devices a new way to pay with their Wells Fargo debit and credit cards.
A new stage of interactive banking is here. Santander recently announced a new app that will let consumers speak to their phone about their spending habits. Lloyds announced a video interview mortgage service, allowing customers to apply without setting foot in a branch. And HSBC released an app which replaces a pin number for voice biometrics. This […]
The robot, called Pepper, represents only one emerging payment method that seems to be inspired by science fiction.
Consumers with bank accounts are four times more likely to use mobile apps from their primary financial institutions than from other sources, according to an FIS survey.
The Curve card functions as a prepaid MasterCard, which acts as a conduit for payment from the chosen card. A companion mobile app provides account management, transaction history and other functions.
Data provisions for access to accounts in the PSD2 likely will spark the launch of new payment and fintech firms to handle the new data demands from consumers and to create new products, according to presenters.
With excitement often comes confusion, and that was true Tuesday at the Shoptalk conference in Las Vegas, where executives offered an optimistic view of the future of commerce and payments, albeit a vision that carried more than a bit of uncertainty.
At Shoptalk in Las Vegas this week, young companies showcased their contributions to the evolution of commerce and experts discussed how retailers and payments providers can attract the coveted millennial shopper.
Fitbit Inc. is acquiring the wearable payments platform of startup Coin, with an eye on developing contactless payment features for future Fitbit fitness bands. The deal includes “key personnel and intellectual property” related to Coin’s wearables business, but does not include Coin’s core product—an electronic smart card that can be loaded with multiple payment, gift or loyalty cards, Fitbit said.
Retailer consortium MCX said it will postpone the rollout of its CurrentC mobile payments service and shift its focus to partnering with financial institutions. Results from its pilot in Columbus, Ohio, led to the strategy move as well as the decision to cut about 30 jobs.
Well, this might hurt: Only 25 percent of U.S. consumers trust banking Websites, and 23 percent of consumers point to POS systems as the top device for fraud risk.
Five months after unveiling its own in-store mobile payment service, Walmart has begun rolling out Walmart Pay in Texas and the retail giant’s home state of Arkansas. Available through the Walmart smartphone app for iOS and Android, Walmart Pay can be loaded with any major credit, debit or prepaid card or a Walmart gift card.
More than seven months after last October’s EMV liability shift in the U.S., customers “are forced to continue using fraud-prone magnetic stripe technology” because chip-reading payment terminals remain idle, charged U.S. Sen. Dick Durbin in a letter to Federal Trade Commission Chair Edith Ramirez.
Banking giant Barclays has announced the launch of its own mobile contactless on Android, and confirmed it will not be joining Android Pay, reports Tim Skinner at Telecoms.com. The bank has been one of the UK’s more innovative financial institutions harnessing mobile payments, and specifically the integration of payment technology into wearable or alternative devices. […]
As the country’s Unified Payments Interface threatens to leapfrog mobile wallets in the country, one mobile wallet provider wins a capital gain, while another wallet program launches.
Telefónica Germany, in association with Fidor Bank, will be launching its mobile banking offering, “O2 Banking”, in Germany in late summer 2016. Matthias Kröner, CEO of Fidor Bank, says the collaboration offers “the best of two digital worlds”. Namely, banking services via a mobile app and additional services from an O2 mobile contract. Fidor says […]
The mobile payment service, once confined to American Express cardholders, now is available to MasterCard, Visa and Interac customers. Apple has signed deals with four banks for Apple Pay.
Dashlane, a password manager with offices in New York City and Paris, announced on May 9 that its digital wallet has surpassed $5 billion in online consumer spending. Could this digital identity company become a leader in the wallet wars?
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Atom Bank adds another system to its tech set-up; readies mobile app Bank has just launched, but already has problems. Monitise looks to be profitable in H2 2016 But did it grow too big too fast? EFG and BSI […]
UK-based payments vendor Monitise seeks to turn its fortunes around with a new digital payments offering, new COO and a new, re-focused business structure. Banking Technology investigates. Choppy waters The mobile payments vendor has had a difficult few years, partly attributed to growing too big too fast. By 2014, it had to write off £128.5 […]
