Italian Bank to Offer payleven mPOS System (Sept. 23, 2013)
Europe-headquartered mobile payments provider payleven has inked a deal to make the company’s mobile payment card reader system available to clients of Italian bank BancoPosta.
Payments
TransCard Buys PayPartners, Forms Acquisition Division (Sept. 23, 2013)
Sept. 23, 2013 TransCard is continuing its acquisition spree with the announcement last week that it’s acquiring PayPartners Inc., a provider of payroll and other corporate prepaid cards. PayPartners’ platform and cloud-based back-office portal complement TransCard’s services, making it easy to on-board, issue and manage payroll card portfolios, according to the Tenn.-based prepaid processor and […]
Occupy Wall Street Movement Seeks Donations to Launch Prepaid Card (Sept. 23, 2013)
Sept. 23, 2013 Occupy Wall Street’s second anniversary last week did not draw large crowds, but organizers are pushing forward with plans to launch a reloadable prepaid card backed by a nonprofit cooperative, a spokesperson tells Paybefore. The Occupy Card, envisioned as an FDIC-insured Visa prepaid card, is designed so that anyone—including millions excluded by banks—may qualify […]
Google Wallet Connects to iPhone (Sept. 19, 2013)
Google Wallet has cracked the iPhone barrier, proving, some would say, there’s no reason to wait for NFC to advance mobile payments.
Study: Young Consumers Ready for Mobile Payments (Sept. 19, 2013)
Younger consumers likely will lead the charge toward mobile payments ubiquity over the coming years, but they have certain expectations that must be met by providers who seek to harness that demand, according to a new report from payments processor Vantiv Inc.
State Bank of India Taps Yalamanchili for Money Transfer Card (Sept. 19, 2013)
Sept. 19, 2013 The State Bank of India has selected international payments solutions provider Yalamanchili to provide the processing platform for the bank’s new State Bank Xpress Money Card, which enables cardholders to receive instant money transfers from the United Arab Emirates. The prepaid Visa card is co-branded by the State Bank of India and […]
Foundation Seeks Green Light for Bitcoin Campaign Contributions (Sept. 19, 2013)
Sept. 19, 2013 The Bitcoin Foundation is pushing for permission to allow bitcoins as a source of federal political contributions. The trade group this week made its pitch to the U.S. Federal Election Commission in a letter announcing its support for the concept, which the Conservative Action Fund PAC (CAF) proposed earlier this month. The […]
Clear2Pay extends hub to run virtual institutions
Clear2Pay has launched Business-in-a-Box, based on the company’s existing corporate payments hub (CPH) and open payments framework (OPF). The two products are aligned with the company’s new Virtual Vault Account Solution (Vivas) in a package that can be used to establish a virtual financial institution.
SunTec lets Visa put its foot down and Xelerate
Visa Europe is to introduce a new services suite called Xelerate Card Services from revenue management and business assurance firm SunTec, which it will use to track a peak volume of 100 million transactions a day. Xelerate is designed to help bill member banks and approved non-members of Visa Europe in 36 countries. Visa Europe […]
Innovation: there is a better way
Innovation in financial services may not generate products quite so world-changing as the inventions of Edison, but the principle of finding better ways to do something does inform most developments.
PreCash Sees Bill Pay as Acquisition Gateway (September 2013)
Houston-based provider launches bill pay/mobile app combo as ‘ideal hook’ to establish customer relationship that expands to other financial services, including prepaid.
Barclays builds on Pingit head start
Barclays is making a determined effort to capitalise on the two-year lead it has built up with its Pingit mobile payments application with two new applications intended to allow retailers to integrate mobile payments into their services.
Standard Chartered backs mobile wallets
Standard Chartered has launched a mobile wallet service targeted at corporate clients in Kenya. The service has been developed in partnership with Safaricom, which operates the mobile money transfer service M-Pesa. The bank hopes the deal will herald the start of a major drive to open up financial inclusion in emerging markets.
New Age of Bank-Technology Partnerships (September 2013)
The partnerships banks are forming with financial technology suppliers today look very different than routine client-vendor relationships of past decades, and one of the most interesting aspects of the trend is how both sides are transforming each other.
MasterCard Research: Industry Must Bridge Education Gap to Serve Financially Excluded in Europe (Sept. 17, 2013)
Sept. 17, 2013 The prepaid industry has a big opportunity in reaching the financially excluded and underserved across Europe, but it also has a lot of work to do to bridge the consumer education gap, according to new research from MasterCard Worldwide. The payment network today unveiled the “Road to Inclusion,” a report that shows while […]
Visa, Docomo Prep Virtual Prepaid Card in Japan (Sept. 17, 2013)
Visa’s Japanese subsidiary Visa Worldwide (Japan) Co. is joining with mobile telecom provider NTT Docomo Inc. to launch what the companies are calling Japan’s first mobile-based virtual prepaid card for online shopping.
BofA Merrill Offered Faster Corporate Payments to Asia (Sept. 17, 2013)
Sept. 17, 2013 Bank of America Merrill Lynch is aiming to improve the speed and efficiency with which banks and corporations can make high-dollar payments to Asia. The company’s new Accelerated Payments to Asia solution uses smart routing technology to mitigate the difficulties typically faced by corporations making U.S. dollar payments to Asia due to […]
rePower Expands in Europe, Adds paysafecard (Sept. 17, 2013)
Sept. 17, 2013 MasterCard is expanding the reach of its rePower prepaid card reload network to more European nations and adding partners as part of its push to make loading cash onto prepaid cards easier for consumers across Europe, according to Matt Lanford, MasterCard Europe’s head of prepaid. At the 2013 MasterCard Europe Prepaid Conference […]
People on the Move: Ali Nizameddine, Payza (September 2013)
Payza, an online payment platform, has promoted Ali Nizameddine to executive vice president.
Misys modular back office service will streamline and consolidate
Banking software vendor Misys has launched a modular back office service that it says will centralise and consolidate all processing across asset classes, trading systems and branches globally.
People on the Move: Peter Ayliffe, Monitise plc (September 2013)
Monitise plc has appointed Peter Ayliffe non-executive chairman.
People on the Move: Steve Antonakes, Consumer Financial Protection Bureau (September 2013)
The Consumer Financial Protection Bureau recently announced that Steve Antonakes has been named deputy director of the agency.
BAML builds single data repository
Bank of America Merrill Lynch (BAML) has completed consolidation of client transaction banking data from multiple systems into a single centralised data repository. The service will provide corporate clients with up to 14 months of data online or in file format.
Daily News at Sibos 2013: Day 2
Daily News at Sibos Day 2 2013
Digitisation of cash a focus at Innotribe session
Bitcoin has had a bizarre beginning, full of whats, ifs and maybes. In what seems to be a case of virtual reality came virtual cash, with software written by an anonymous donor and a principle that could play a leading role in the future of online transactions.
MasterCard and EFL partner to underwrite unbanked SMEs
MasterCard and Entrepreneurial Finance Lab (EFL) have announced a global partnership to promote small business growth in developing countries. The partnership, agreed yesterday at Sibos, provides international issuers in developing markets with new tools to help to improve credit underwriting for unbanked small businesses.
CFPB Weighs in on Payroll Cards; Agency’s Leader Takes Drubbing from House Republicans (Sept. 16, 2013)
Sept. 16, 2013 The Consumer Financial Protection Bureau (CFPB) is the latest to weigh in on payroll cards by issuing a bulletin to companies reminding them that employers cannot require their employees to receive wages on a payroll card. “Employees must have options when it comes to how they receive their wages,” CFPB Director Richard […]
Capital One Exits Isis Mobile Wallet (Sept. 16, 2013)
Capital One Financial Corp. this week ends its trial run with the Isis Mobile Wallet, raising questions about what combination of payment cards Isis will have when the wallet officially launches later this year.
i2c Integrates Platform with MasterCard’s Mexico Domestic Switch (Sept. 16, 2013)
Sept. 16, 2013 i2c Inc. today announced the completion of a direct integration of its platform with MasterCard’s domestic switch in Mexico, where the cloud-based payments processor sees significant growth opportunities. Redwood City, Calif.-based i2c completed all requirements for certification with MasterCard’s Mexico Domestic Switch service, which i2c says will help accelerate implementations of prepaid, credit […]
Western Union Makes Moves in China (Sept. 16, 2013)
Sept. 16, 2013 Western Union has made a pair of major inroads into the Chinese banking channel. Through a deal struck last week with Shanghai-based payment card network UnionPay, the money transfer giant now can reach 95 percent of all personal bank accounts in China. The pact enables Western Union customers in 23 countries to […]
Pingit Adds Pair of Mobile Shopping Features (Sept. 16, 2013)
Users of Barclays Pingit U.K. mobile money transfer app have two new ways to make online purchases, with a pair of features being launched this week.
Rise in non-cash volumes brings innovation opportunity
Global non-cash payments volumes continue to rise unabated, according to World Payments Report 2013 (WPR 2013), which was launched today. Non-cash transactions grew by 8.8 per cent during 2011 (the latest year for which full data is available) and are predicted to top 333 billion for 2012.
Clear2Pay Supplement Sibos 2013
Clear2Pay Supplement Sibos 2013
MasterCard: Prepaid is Fastest-Growing GDV Category as Digital Payments Grow Worldwide (Sept. 12, 2013)
Prepaid accounted for the strongest growth rate in gross dollar volume (GDV) for all payment card types during the first half of this year for MasterCard Worldwide, as prepaid card use cases expanded worldwide, the network told investors yesterday.
Rep. Hensarling ‘Welcomes’ CFPB Director Cordray to Finance Hearing (Sept. 12, 2013)
Sept. 12, 2013 Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), presented the agency’s semi-annual report to the U.S. House Committee on Financial Services during an often contentious hearing this morning. Literally seconds after welcoming Cordray to this morning’s hearing, Committee Chairman Jeb Hensarling (R-Texas) assailed the agency for the relatively unchecked power […]
Fed Seeks Industry Input on Payment Improvements (Sept. 12, 2013)
Sept. 12, 2013 The Federal Reserve is seeking payments industry input on a set of new policy proposals to modernize and improve the nation’s payments system in the wake of rapid changes in technology and consumer expectations. Earlier this week, the agency released its Payment System Improvement – Public Consultation Paper, the purpose of which […]
Sprint ‘Boosts’ Wallet with Remote Check Deposit Service (Sept. 12, 2013)
Sprint’s Boost Mobile Wallet users now have a way to turn checks into instant funds with a new service dubbed Quick Check, which uses remote deposit capture to deposit checks into customers’ wallet accounts.
