A U.S. appeals court has declined a request from Florida for a full review over a ruling that allows merchant to offer discounts for cash transactions, a move that could lead to more Floridians choosing to pay with cash.
Following years of mistrust and rivalries, the time has come to reimagine the payments relationships between banks, retailers and fintech firms, according to a joint report from analyst firm Celent and payments systems company ACI Worldwide.
IFINTEC Finance Technologies Conference and Exhibition will be held on 12-13 April 2016 in Istanbul, Turkey. IFINTEC is a dedicated conference focusing on banking solutions and finance technologies. IFINTEC is one of the biggest events in EMEA region in its category. Banking Technology, Finance Technology, Core Banking, Retail Banking, Universal Banking, Commercial Banking, Branchless Banking, Payment Systems, Mobile Banking, Branch Automation, Lending Solutions, Credit and Operational Risk Management, Debt Management, Fraud Prevention, Governance Risk Compliance, Banking IT, Secure Banking and Insurance Technology are key topics of the conference.
While some of us have experienced the speed at which sales are completed on the trade floor, most of us have heard tell of it. So it’s no surprise that mismatched trades is a common challenge for most banks, giving rise to the finance technology industry creating a brand new category – solutions for the management of the P&L trading desk
Stop asking customers what kind of car they owned 10 years ago. Make better fraud decisions—and reduce costly false positives—with behavioral biometrics analysis they never see.
Financial institutions are undergoing a seismic transformation. Digital technology is reshaping what consumers want from their banks and the way they conduct transactions. Let’s take a look at the top five banking trends for 2016.
Forget predictions. We’ve got work to do. There are several significant challenges for payments that need to be solved from fixing cross-border payments to making payments disappear.
With more contactless cards in the U.K. than people, the new age of payments is already here. But we’re not done yet, and thanks to biometrics, we could be the next form factors.
Many retailers selling products online continue to combat shopping cart abandonment and lost sales during the checkout process. Java giant Starbucks and big box chain Walmart are the latest retailers fighting back to convert consumers from browsers into buyers by making checkout easier for them.
PrePaid Ventures, the company behind the Visa-branded NexisCard prepaid program, has bought KEEPS America, which provides prepaid cards for lawsuit, workers’ compensation and Social Security settlement awards.
Many millennials recognize the importance of saving but often find it difficult to follow through on actually setting aside funds.
Financial information services firm Markit has begun using Amazon Web Services, in a deal the firm says will optimise the performance and scaling capabilities of Markit products and services including enterprise data management, thinkFolio, WSO, indices and processing.
Barclaycard U.S., the payments business of Barclays in the U.S., has appointed Curt Hess as CEO.
CardLinx Association, which represents the card-linked rewards industry, announced the addition of several new members, including FIS, General Mills, Go Daddy, Samsung Card and Under Armour.
The CFPB appointed David Silberman acting deputy director beginning next week, replacing Meredith Fuchs.
Fiserv Inc., a global provider of financial services technology, announced that Michael O’Laughlin has been named president of its biller solutions business, which includes an array of bill presentment and payment services delivered through Web, mobile, telephone and walk-in channels.
Stephanie El Rhomri, vice president of technology at FIME, has been elected to the board of GlobalPlatform, an industry body which standardizes the management of applications on secure chip technology.
Ingo Money Inc. announced that H. Eugene (Gene) Lockhart, former president and CEO of MasterCard Worldwide, has joined its board of directors.
JetPay Corp. has appointed Michael Pires CEO of its JetPay Payroll Services subsidiary.
MasterCard promoted Tara Nathan to executive vice president of public-private partnerships.
Mercator Advisory Group has added Steve Murphy to its team as director for the company’s commercial and enterprise payments advisory service.
Ian Horsted, vice president at R&P Group has received the U.S. Recruiters Network award for Sioux Falls Area Top Producer for the fourth quarter of 2015.
Toronto-based fintech startup nanoPay is taking Canada another step toward delivering digital currency on a mass scale. Following a selection process of software developers charged with creating payment apps for the MintChip digital currency created by the Royal Canadian Mint, nanoPay today announced it has acquired all MintChip assets and was chosen to further expand MintChip acceptance.
The CFPB recently released its November complaint report or “snapshot” of consumer complaints it received through its Website for the three month average between September 2014 and November 2015. Although prepaid saw a jump of 215 in complaint volume, prepaid complaints still represented only 2 percent of all complaints the CFPB received during the period.
Ford wants to links its cars with Amazon’s Alexa technology, enabling drivers more Web-connected control over their cars and homes. The move represents the latest development in the Internet of Things, which was a hot topic at last week’s Consumer Electronics Show in Las Vegas.
A proposed rule that would place new Customer Due Diligence requirements on financial institutions—including prepaid issuers—has taken a step forward with the release of two new documents estimating the impact and cost the proposed rule would have on regulated institutions and seeking comment from stakeholders by Jan. 25.
PayPal Holdings Inc. has appointed Wences Casares to its board of directors. An international fintech entrepreneur and recognized next-generation payment and cryptocurrency thought leader, Casares will serve on PayPal’s compensation committee, according to an announcement.
Cross-border payments and ACH operator Earthport has launched a distributed ledger hub, which it says will help banks to make cross-border payments cheaper and more efficient.
While mention of bank robberies will often conjure images of masked criminals and high-speed car chases, most modern instances of the crime are being conducted from behind computer screens. In addition to the lure of stealing cash, these criminals are going after banks for valuables such as the personal data of customers, details of mergers and acquisitions between companies and the private tax information of corporations, data is fast becoming an incredibly valuable commodity in its own right
The start of the New Year also means the start of tax season, and tax preparer Jackson Hewitt is sweetening the pot for current and prospective customers by teaming up with American Express to provide quicker refunds and $50 instantly.
ADP has announced that its ALINE Card is integrated with Apple Pay, making the Paybefore Award-winning card one of the first prepaid cards in the mobile wallet.
After a hot 2015, fintech investment is off to a strong start in the New Year. In recent days, U.K. digital financial services provider Starling Bank and European retail banking disruptor Deposit Solutions each landed new financing, while global asset manager BlackRock acquired at least a 5 percent stake in New York City-based Square.
As U.K. banks begin offering no-frills accounts that could compete with prepaid products, London-based prepaid specialist Prepaid Financial Services (PFS) is looking to elbow further onto traditional banks’ turf by expanding its banking offerings across the Eurozone.
New peer-to-peer platforms that match lenders with borrowers are proving to be more efficient than banks at connecting those with money and to those that need money. Known as marketplace lenders, this new industry is still very much in its infancy, currently representing a tiny proportion of total loans compared to bank lending
The holiday shopping season may be over, but Blackhawk Network remains in a buying mood.
Commuters hailing a cab in Singapore now can use MasterPass, MasterCard’s digital wallet, to pay their fares.
Smartphones accounted for 17 percent of online sales in the U.S. last year, beating out tablets, at 14 percent, according to the State of Retailing Online 2016, a widely cited annual report from Forrester Research Inc., Bizrate Insights and Shop.org, the e-commerce arm of the National Retail Federation trade group.
The People’s Bank of China (PBC), the country’s central bank, this week has revoked the license of Shanghai Chang Gou Enterprise Services, a prepaid card-issuing company, preventing it from selling prepaid cards, according to Reuters.
Samsung, one of the world’s largest electronics companies, this week gave its latest boost to the so-called Internet of Things (IoT) by showing off Web-connected TVs and other products.
Prepaid product and transaction services company InComm has expanded its European footprint with yesterday’s acquisition of TibiDono, a Salzburg, Austria-based marketing and gift card distribution company.
