Google Inc. is plotting another makeover for its 4-year-old Google Wallet, to be revealed in May at its annual I/O developer’s conference, according to a Feb. 20 report in the Wall Street Journal.
Customers of Advanced Payment Solutions (APS), a London-based provider of alternative banking solutions, soon will be able to access banking serves through the U.K. Post Office’s 11,500 branches.
In the Oscar-winning film The Theory of Everything the lead character Stephen Hawking lays out his vision of a single equation that explains all physical aspects of the universe. This rarefied scientific debate has echoes in the more prosaic world of Transaction Cost Analysis in financial markets, where the availability of more granular data coupled with pressure from regulators is driving a whole new wave of research and analysis, says ITG’s Michael Sparkes.
Continuing its policy of offering products that fit across user workflows, Bloomberg has moved in to the transaction reporting space in Europe. The company’s Trade Order Management System has been granted approval by the Financial Conduct Authority to report securities with an ISIN and OTC derivatives as part of the UK’s Approved Reporting Mechanisms regime.
Samsung this week announced its purchase of mobile payments startup LoopPay, taking over its technology that enables magnetic stripe cards to be processed as contactless transactions at traditional payment terminals.
A federal judge has ruled that American Express no longer may bar retailers from steering customers toward paying with cards with lower merchant fees.
Pay.gov, the U.S. government’s online payments portal for 90 federal agencies, is expanding to embrace digital wallets, including PayPal and Dwolla, the U.S. Treasury announced this week.
Customers are looking for organisations that care about their needs in a way that is personalised, responsible, transparent and – of course – secure. In recognising this, banks are stepping up to the challenge and just as technology is at the heart of this business, so their relationship with IT suppliers is a key component of this value shift.
Apple Inc. has filed a patent application indicating plans to add loyalty features to Apple Pay, introducing the option to redeem coupons and tickets via NFC, according to a new report.
Mobile deposit capture (MDC) has gained tremendous ground with consumers looking for more convenient access to funds.
Prepaid may be a more expensive business to enter—as compliance costs increase and margins thin—but that doesn’t mean the entrepreneurialism and innovation that birthed the industry are finished. A panel at All Payments Expo in Las Vegas next week will explore what it takes to enter and succeed in the market amid unprecedented regulatory scrutiny and oversight.
Online social investment network eToro has moved its core IT infrastructure onto a hybrid cloud system. The platform will allow it to maintain sensitive applications in a private cloud while using a public cloud for others.
The U.S. government is the latest to get behind Apple Pay as part of its commitment to encourage more secure payments technologies, the White House announced during its Summit on Cybersecurity and Consumer Protection at Stanford University on Feb. 13.
Lawmakers last week reintroduced a bill to add congressional oversight for the CFPB, which currently operates independently.
Hackers may have made off with as much as $1 billion in a series of attacks on more than 100 banks and financial institutions in 30 nations.
Financial institutions are being urged to revisit their cyber-security following revelations that an online gang using the Carbanak malware stole up to $1 billion from banks in 30 countries around the world in a series of highly-sophisticated attacks over the last two years.
Capital markets firms are losing their intellectual property too easily to competitors, business partners and third parties. Most companies could benefit from a tougher approach to IP, including licencing agreements and more use of patents, according to a new report by analyst firm Aite.
The cyber-attack on Sony Pictures at the end of last year highlighted something that IT and security people in financial services have known for some time – the modern networked environment is far less secure than most people are prepared to admit …
Banks have been struggling to work out the balance between the potential of new technologies, and the propensity (or otherwise) of customers to use them. After years of standardisation between platforms, the answer may actually be to carefully analyse and categorise customers based on their digital propensity and level of financial engagement – and to make sure that each kind of customer is handled differently, according to a new report by analyst firm Celent.
A company’s Net Promoter Score has become an important measure of customer satisfaction. It asks them a simple question: how likely they are to recommend that company to a friend. The responses split the audience into three groups: promoters, passives and detractors. By subtracting the percentage of detractors from the promoters, banks obtain their NPS. NPS has been a valued metric in many consumer-facing industries for several years, but its importance and influence in financial services is growing fast.
Green Dot has acquired AccountNow and AchieveCard to expand its active cardholder base and distribution outside traditional retail, the company tells Paybefore.
Wondering what the CFPB’s NPRM emphasizes?
About 60 percent of U.S. POS locations will accept EMV chip transactions by yearend, according to a recent Aite Group survey. The results suggest the push to upgrade terminals in advance of the October 2015 liability shift is “accelerating,” but serious gaps in awareness and planning still exist, especially among small and midsize merchants.
India’s second-largest bank ICICI Bank this week launched “Pockets,” a mobile wallet targeting younger consumers powered by a Visa prepaid card, enabling smartphone users to send and request funds, shop online and pay bills, whether or not they are an ICICI bank customer.
Compliance advisory firm Treliant Risk Advisors has named Steve Rudner and Mark Westmoreland as principals of the firm.
Visa Inc. has announced the appointment of Vasant Prabhu as executive vice president and CFO.
Planet Payment Inc. announced that company president and CEO Carl Williams has been named chairman of its board of directors, effective immediately.
Mark Moore is now assistant general counsel for Silicon Valley Bank.
Meta Payment Systems, a division of MetaBank, has announced the recipients of its 2014 Client Spotlight Awards, honoring high-performing prepaid clients for the 2014 calendar year.
The Merchant Risk Council (MRC), an association for professionals within ecommerce payments and fraud, announced that Pete Pouridis, vice president, loss prevention, The Neiman Marcus Group, has been appointed chairman of the MRC’s global board of directors.
Singapore-based goSwiff, a provider of mobile commerce, marketing and professional services, added three executives to its global team over the past several months.
The Federal Reserve Bank of Philadelphia has promoted Julia Cheney to assistant vice president and assistant director in the Payment Cards Center (PCC).
The Women’s Network in Electronic Transactions (W.net), has announced that Linda Rossetti, founder and president of ISO Bluestone Payments LLC, has been elected its 2015 national president.
Attorney Scott Pearson has joined law firm Ballard Spahr LLP as a partner in the firm’s consumer financial services group, which defends financial institutions in class actions, government enforcement proceedings and other complex litigation.
Back on My Feet, a nonprofit organization that promotes the self-sufficiency of people experiencing homelessness by engaging them in running, has named Jay Shipowitz, CEO of ACE Cash Express, as the new chairman of its national board of directors.
Avox, the DTCC’s legal entity reference data subsidiary, has launched a series of web-based application programming interfaces designed to support faster access to data, including legal entity identifiers, legal names, addresses, industry classifications and corporate hierarchies.
Protecting your banking infrastructure from cybercriminals is one of the toughest IT challenges in banking. It keeps getting harder, even though banks are working tirelessly to protect both customers and assets. Attacks are growing in size, and new developments such as the Internet of Things mean attack surfaces are growing, as well as the number of endpoints that can be used to launch attacks.
Mozido today announced it’s acquiring PayEase Corp., a Beijing-based payments gateway and processor with direct connections to 23 Chinese banks.
PayPal and Shell are partnering to enable motorists in the U.K. to pay for gasoline at the pump via a smartphone app.
Amazon India’s Junglee e-commerce portal is now selling gift cards, the retail giant’s latest move in India, a market the company has described as a focal point for growth.
