Ant Financial Services Group, the online and mobile financial services affiliate of Chinese e-commerce giant Alibaba Group, has appointed current president Eric Jing as its new Chief Executive Officer, effective Oct. 16.
Bink, a soon-to-launch loyalty app that links consumer card payments to loyalty programs, has appointed Bob Wigley as chairman of its board and Steve Perry as a non-executive board director.
Blackhawk Network has named David Tate as senior vice president of the company’s U.S. retail business.
Mastercard has named Safdar Khan to the role of division president for Indonesia, Malaysia and Brunei. Khan will be based in Jakarta and be responsible for leading the implementation of the company’s digital payment technologies in those markets.
PayPal Inc. has named Bill Ready Chief Operating Officer, the first time that position has been filled since PayPal became an independent company in July 2015.
India-based online commerce platform Paytm has appointed Madhur Deora as its Chief Financial Officer and senior vice president.
Blockchain has the potential to greatly benefit the entire capital markets ecosystem. But the industry should learn to walk – when it comes this emerging technology – before it can run.
With regulators placing ever greater demands on institutions in the area of sanctions, it is essential that institutions screen their customers and transactions against relevant sanctions lists. Regulators are showing less tolerance for errors than in the past. Not only have fines have been imposed on banks but also on payments companies and casinos. Specifically, […]
Symantec has found evidence that the Odinaff group has mounted attacks on Swift users, using malware to hide customers’ own records of Swift messages relating to fraudulent transactions. The tools used are designed to monitor customers’ local message logs for keywords relating to certain transactions. They will then move these logs out of customers’ local […]
The CFPB might have taken two years to release its final rules on prepaid accounts, but it took little time for payments industry players and observers to weigh in on them. Within a day of the rules’ release, which go into effect Oct. 1, 2017, prepaid services giant Green Dot Corp., the Independent Community Bankers of America (ICBA), the Consumers Union and the Network Branded Prepaid Card Association (NBPCA) all had issued official comments, covering the spectrum of support for the new mandates.
A new European prepaid product from Wirecard will help truck drivers pay for repairs and fuel. The program, launched in Germany, involves Europe Net, a subsidiary of ADAC Truck Service. Its European Net Service Card also enables fleet mangers to add value to the card so that drivers can make emergency payments.
Vodafone customers in the U.K. now can make NFC payments funded from their PayPal accounts via Android smartphones. A new deal between Vodafone and PayPal enables PayPal to be used as a funding source for transactions made with Vodafone Pay.
A shareholder of ID verification startup Jumio Inc. has sued company officials over alleged mismanagement and misrepresentation of the firm, which filed for bankruptcy in March 2016. In a lawsuit filed in Delaware, Bloso Investments Ltd., alleges that Jumio directors, including Facebook co-founder Eduardo Saverin, made deliberately misleading statements about the company’s prospects, duping Bloso into investing $5 million in Jumio.
Niamh de Niese, a new director and head of BNY Mellon’s EMEA Innovation Centre, shares her views on diversity in fintech, Ada Lovelace (often regarded as the world’s first computer programmer) and how to encourage more women into the science, technology, engineering and mathematics (STEM) professions.
MasterCard and Berlin-based SolarisBank have teamed up to bolster their digital banking ambitions. SolarisBank has got principal membership status, and will now operate at MasterCard’s “highest issuer level”, with access to its entire product portfolio. Dr. Andreas Spengel, vice-president at MasterCard, says it is “excited by the outlook of working together with a young, visionary […]
Alain Vansnick, Head of Payments International Business, TAS Group, explains how banks can get ready for instant payments.
Christian Westerhaus, Global Head of Product & Strategy, Institutional Cash Management, Deutsche Bank, talks about the future of correspondent banking.
Digital banking software vendor Backbase has teamed up with Mitek, a mobile capture and identity verification specialist. Mitek’s OCR and document validation capabilities are now available through the Backbase Open Banking Marketplace.
Wasting your time is a crime. Here’s a round-up of key events in the payments space. Absa has teamed up with South African start-up Walletdoc to let its Absa Rewards customers earn cash rewards each time they use Walletdoc to pay their monthly accounts. Walletdoc works by sending reminders when payments are due, notifying users […]
The global payments industry faces more challenges than ever before – fiercer competition, more regulations, an increasing threat from cybercrime and new demands from customers. Thierry Chilosi, head of markets & initiatives, EMEA at Swift, talks to Daily News at Sibos about the steps market participants can take to future proof their payments infrastructure.
Banking software provider and integrator ITSS has completed the upgrade of Temenos T24 core banking system at Suez Canal Bank (SCB) in Egypt.
A savings and credit co-operative society in Kenya, NRS Sacco, is looking to renovate its core software, and has issued a call for a new software provider. It is also looking to procure consultancy services to help it with system selection.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
“Transaction banking will undergo a change of character,” states the global banking giant.
When time is tight, the reading can be light. A round-up of key events in fintech funding. US-based Payoneer has completed the first closing of a growth equity financing. Proceeds from the $180 million financing will be used to “accelerate global growth”. This year, the firm opened new offices in India, Japan and the Philippines, […]
A consensus is building along the payment frontier: Banks can serve as platforms though which a plethora of third-party services and customers are able to connect through an API.
With some $25 billion at stake, personalization and going digital will help ensure returns for the all important fourth quarter.
Many retailers still insist on treating payments as merely a functional step of the purchase process. But connected consumers desire payment experiences. Here’s how to offer them.
Berlin-based fintech incubator FinLeap has teamed up with fintech analyst Devie Mohan to launch Burnmark, an independent research company focusing on trends in the financial technology industry. Finleap will support Burnmark with network, knowhow and research capabilities. Mohan works closely with traditional banks, consulting firms, innovation teams, start-up accelerators and investors, advising them on fintech […]
Erik Zingmark and Peter Hupfeld, Co-Heads of Transaction Banking, Nordea, talk about how a changing world is changing banking.
Cost savings are not the only thing to consider when relocating your business. Applications, systems, hardware and people are all being moved and a seamless transition is essential to ensure there is no downtime and no risk to your reputation or finances. Most people see international relocation as a cost-saving initiative but if that is […]
Thomson Reuters has launched BlockOne ID to let developers build applications in a controlled environment with blockchain. BlockOne ID (for Ethereum) is an experimental user-entitlement framework through which decentralised app (DApp) owners can manage access to their blockchain contracts. Thomson Reuters says it uses traditional methods to authenticate users and provides a mechanism for DApp […]
Kohl’s on Oct. 5 launched a mobile payment option that “integrates the Kohl’s Charge private label credit card into the popular Kohl’s mobile app,” the retail chain said. Called Kohl’s Pay, the service enables some 25 million U.S. holders of that private label card to pay for in-store purchases directly from mobile devices.
Swift has published a series of eLearning modules as it ramps up its cybersecurity defences in the face of hacking threats. The SwiftSmart modules will help its customers operate their Swift environment “securely and in-line with best practice”. The move is also a “critical part” of its Customer Security Programme launched in May 2016. That […]
The U.S. Consumer Financial Protection Bureau (CFPB) on Oct. 5 released its final rule on prepaid accounts, and the agency’s requirements, which go into effect Oct. 1, 2017, go well beyond plastic.
Say cheese! Or at least hold still. Mastercard is rolling out its pay-by-selfie service in a dozen European countries. The move follows a similar pilot in North America.
There’s glee and a spending spree for HSBC as over $100 billion in mobile payments have been made by its corporate customers. The bank says the $100 billion sum was authorised globally through the HSBCnet mobile corporate banking platform since its launch in 2011. The total transaction value of mobile payments has more than doubled […]
Pricing and billing software specialist SunTec has implemented its flagship Xelerate platform at India’s challenger bank, IDFC Bank.
The U.S. Consumer Financial Protection Bureau (CFPB) on Oct. 5 released its final rule on prepaid accounts, a move that sharply expands the definition of prepaid—to the distinct displeasure of prepaid industry players. The new rules, which take effect Oct. 1, 2017, are quite similar to what CFPB had initially proposed, with provisions tweaked in the final rule, rather than major additions or deletions.
A federal judge has ruled that a lawsuit alleging payment networks colluded over fraud liability can go forward, denying the networks’ motion to dismiss the lawsuit. Filed in March 2016 in U.S. District Court for the Northern District of California by two Florida retailers, the lawsuit accuses American Express, Discover, Mastercard and Visa of engaging in “a conspiracy” when shifting liability for transaction fraud to merchants that failed to upgrade their POS systems to accept EMV chip technology by Oct. 1, 2015.
