Fintech Could Get More U.S. Regulation
The OCC will release a paper to start discussions on new regulations for financial startups, which banks reportedly want.
Mobile
Smartphones? Credit cards are the most mobile payment method!
The world has been talking about “mobile payments” for years, but the phrase means different things to different people. So what exactly are mobile payments? And how much more mobile than cash or cards can payments actually get, asks Philipp Nieland, co-founder and CTO of PPRO Group. Some people believe that mobile payments are those […]
APEX: Attracting Consumers amid Payment Solution Overload
On the final day of the All Payments Expo in New Orleans on March 23, Sam Maule, emerging payments practice lead at Carlisle & Gallagher Consulting Group, challenged the audience to change the way they think about providing payments solutions. “You all care [about new payment options], but consumers don’t. They have solution overload,” he said.
APEX Panel: Designing for Success in Digital Gifting
For retailers and brands setting their sights on digital gifting, it’s important to maintain a strong focus on card design and delivery to ensure the best possible customer experience, according to a group of retail and gifting experts this week at the All Payments Expo in New Orleans.
AuthenticID Survives APEX Shark Tank
The sharks were circling at the All Payments Expo in New Orleans this week. To close out the day on Tuesday, a group of eight startups and early stage payment companies pitched their idea or product to a group of three payments industry expert “sharks.” When the waters had calmed, AuthenticID, an Atlanta-based provider of identity verification products, had emerged as the winner.
APEX: Dreaming of the Internet of Things
B2B represents the most promising growth area for Web-connected devices and cars that can order products. And prepaid could be how users pay for such transactions.
Mobile Wallets Need More Than a Payment Button
Mobile wallets command serious buzz in the payment and retail worlds, but at the All Payments Expo Tuesday in New Orleans, experts pointed out that the technology has yet to gain global traction and consumers will need more from such programs than the ability to make purchases.
APEX Keynote: Blackhawk’s Roche on Payments as Engagement
As retailers and brands seek to deepen connections with their customers, emerging payment technologies represent a key opportunity for meaningful engagement with consumers, according to Talbott Roche, president and CEO, Blackhawk Network. Delivering a keynote address on the opening day of the All Payments Expo in New Orleans on Monday, Roche explained how the growing ubiquity of mobile devices and the rise of the connected consumer have created myriad new channels for messaging and engagement.
Neat trick as Hong Kong start-up uses selfies to verify payments
Hong Kong start-up Neat is setting its sights on the millennials’ market and will let customers open a payment account with a selfie. Neat founder David Rosa, a former MD at Citi, says the app and payment card will use facial recognition technology to confirm the holder’s Hong Kong identification card is correct. It’s not […]
DNB’s P2P mobile payments app is Norway’s No 1
DNB’s “first” peer-to-peer (P2P) mobile payment solution in Norway has become the number one downloaded app in the country. Dubbed “Vipps”, and launched six months ago with Tata Consultancy Services (TCS), it is now used by 25% of Norway’s population. The app is available for use on all mobile devices and it allows short chat […]
Japanese Bitcoin Case Will Remain in U.S.
A proposed class-action lawsuit regarding the alleged mishandling of bitcoin accounts in Japan will remain in the U.S., according to a federal court ruling in Chicago this week.
Cash is still king but “uneasy lies the head that wears a crown!”
Even as I am prepping for my next industry event, observations from the last conference I attended continue to permeate my thoughts. The ATMIA US Conference that was held in New Orleans only recently and yet, three items continue to have me thinking about the durability, indeed longevity, of some of the points raised. In […]
U.K.’s Atom Bank Will Use Machine Learning for Mobile Banking
The mobile-only bank, set to open for business later this year, integrates technology from a Xerox subsidiary into its mobile banking app.
Visa Debuts a Digital Swipe for Visa Checkout
The new design for the online and mobile payments service promises to increase transactions, according to Visa testing.
Amazon’s Alexa Enables Capital One Voice-Controlled Banking
Consumers with Amazon’s Echo and other devices can pay their Capital One credit card bills and perform other tasks through the new service.
Amex Patent Seeks to Improve Reward Redemption
American Express could be exploring a way to enable its cardholders to pay with loyalty points on e-commerce sites or mobile wallets, according to a recently released patent application.
Q&A: What’s the Big Deal about Blockchain?
Blockchain is one of the hottest trends in fintech. A payment fraud expert explains how the technology can make transactions safer and what its limits are.
Tuxedo launches world’s first “live load” payments platform
UK payments provider Tuxedo has launched a “live load” payments technology platform, which removes the need to prepay. The vendor says it is the world’s first. The platform is based upon a single, partner-issued Visa or MasterCard, which is linked to customers’ existing payment sources via Tuxedo’s own platform. The platform is PCIDSS (Payment Card […]
Google Tests ‘Hands-Free’ Shopping Via Digital Photos
Google’s new Hands Free shopping test enables consumers to pay with smartphones but make purchases via digital photos of their faces. It represents the newest frontier for mobile payments.
Infographics: the state of fintech industry as we know it
Who, what, where, when of the fintech industry today – this excellent infographics pulls together plenty of useful data, from top specialists, unicorns and start-ups to geographies and M&As. Created by Savvy Beaver and Call Levels.
CFPB Makes First Data Security Enforcement against Dwolla
The CFPB has hit online payments provider Dwolla with an enforcement action over what the agency describes as misleading claims the company made about customers’ data security and the risks of using Dwolla’s online system. The action is the CFPB’s first enforcement related to a data security issue, the agency said.
Square Opens up Cash Drawer
Square Inc. has added a new feature to its Square Cash P2P money transfer service that enables users to store funds within their Square Cash accounts—a move that means the service can fulfill some of the functions of a mobile wallet.
Enterprise Bank Finds SMBs Hungry for Mobile Banking
When Enterprise Bank began offering a mobile banking app designed by Fiserv with small business clients in mind, the uptake was far beyond expectations. Catering to business clients via mobile has several benefits, such as increasing loyalty and profitability and attracting millennial entrepreneurs.
Apple to Testify in House Committee Hearing on Encryption
Apple will testify tomorrow before the House Judiciary Committee on encryption amid its fight with the FBI over creating software to hack an iPhone of one of the terrorists responsible for the December attacks in San Bernardino, Calif. Fellow tech companies, including Google, Facebook, Microsoft and Twitter, are expected to file amicus briefs in support of Apple’s decision not to comply with a court order demanding that Apple comply with the FBI’s request.
iovation Offers Password-Less Security
As e-merchants seek to reduce friction for their Web and mobile customers, authentication specialist iovation has launched a new “password-less security” service, which the company says streamlines the user experience while maintaining robust protections.
Number26 and TransferWise partner for international money transfers
German digital bank Number26 and TransferWise, a UK-based international money transfer platform, have teamed up to provide Number26 customers with direct “in-app” access to TransferWise’s service. Number26 co-founder and CEO Valentin Stalf says the company wants banking products to be “accessible to customers with one tap, creating a fintech hub inside the Number26 app”. The […]
Retail banking: the power of the personal
In 2016, retail banks are facing up to their biggest challenge. A combination of new market disrupters, increased regulation and the continuing pace of technology change is set to transform the industry, shifting power firmly to the consumer. Natalie McLellan, director of financial services at consultancy firm Egremont, offers her insight. Many commentators argue that […]
Apple Pay Integrates with Akimbo Corporate Prepaid Cards
Apple Pay has a new foothold in corporate payroll: Payment Data Systems said that its Akimbo prepaid card program now works with the mobile wallet from the computer maker.
Chase Pay Brews up Starbucks Deal
In the battle for mobile wallet supremacy, JPMorgan Chase this week got venti-sized boost in the form of a partnership with Starbucks.
New digital bank powered by Temenos’ front-to-back office platform
EQ Bank, a new pure-play digital bank in Canada, has opened its virtual doors. It is underpinned by the front-to-back office software from Temenos. The bank is using Temenos’ T24 core banking system at the back-end and Temenos Connect for digital channels at the front-end. It is also using Insight BI for business intelligence and […]
AsiaHawala powers Iraq’s “first” mobile money service with Mahindra Comviva
AsiaHawala, Iraq’s “first” mobile money service, has chosen Mahindra Comviva’s Mobiquity Money solution as it looks to expand its reach across the country. The Iraqi company offers consumers a mobile account for a range of financial transactions – such as P2P transfer, bill payments, merchant payments, salary payments and a recharge service. With Mobiquity Money […]
Net Element enters Azerbaijan’s mobile payments market
Florida-based Net Element has launched its mobile payments platform, Digital Provider, in Azerbaijan. The venture is done via the company’s Russian subsidiary, OOO Digital Provider. The company says the new integration allows content providers and aggregators access to all “major” mobile operators in the country. It has also signed a contract with a national television […]
Ingo Money Rolls out ‘Me-to-Me’ Funding Feature
Instead of focusing on P2P, Ingo Money Inc. has its sights set on enabling what Founder and CEO Drew Edwards calls “me-to-me” payments. The company, which specializes in digitizing cash and checks through its Good Funds Network, today announced the rollout of a service within its Ingo Money App that enables consumers to cash a check with their smartphones and send the funds instantly to multiple accounts, including prepaid, PayPal, bank and private-label credit card accounts.
MWC: Mobile Money Driving Inclusion Worldwide, Says Report
There were more than 1 billion mobile money transactions worldwide in December 2015, according to a report released by the GSMA this week at the mobile association’s Mobile World Congress in Barcelona. In its fifth annual State of the Industry Report on Mobile Money, the GSMA outlined the growth of mobile money, which it said is “changing the landscape of financial inclusion.”
Flywire CEO Sees Increasing Demand for Cross-Border Payments
The demand for large cross-border transactions is on the rise, and consumers making those purchases are seeking the most convenient and cost-effective transaction methods and channels. That’s according to Flywire, a 4-year-old company that got its start in the international student tuition sector and has since expanded to enable multiple types of cross-border payments.
MasterCard, Visa Debut IoT, Wearables Moves at MWC
Wearable payments technology and the Internet of Things continue to gain steam, with MasterCard and Visa announcing separate initiatives involving the technologies at Mobile World Congress in Barcelona this week.
Apple Pay Launches in China with UnionPay; Samsung Pay up Next
Apple Pay launches in China via a UnionPay deal, giving further mobile payment competition to homegrown rivals such as Alipay. Meanwhile, Samsung Pay also is set to enter the market.
CopSonic and Natixis join forces for SwipeSonic ultrasound payments
Natixis Payment Solutions has teamed up with French start-up CopSonic to create SwipeSonic, an ultrasound payment solution for online shopping transactions. CopSonic’s technology uses ultrasound to encrypt information within music and voice, or transmit data “entirely inaudibly to the human ear”. Emmanuel Ruiz, CEO of CopSonic, says: “Sound is the easiest and most effective technology […]
Barclays and BlackBerry bringing BBM to Pingit mobile payments
Barclays and BlackBerry are bringing BBM, the mobile instant messaging service, to Pingit money transfers in the UK. BBM users can now make mobile payments to each other using Barclays’ mobile payment app Pingit. Matthew Talbot, SVP, BBM at BlackBerry, says to “exchange money was a logical extension” of BBM’s functions. Once a user has […]
Amazon Acquires India-Based EMVANTAGE Payments
Online marketplace giant Amazon is acquiring India-based online services provider EMVANTAGE Payments.
