Nine startups dedicated to helping households better manage their finances on a tight budget have been selected as winners of the inaugural Cash Flow Management Competition, held by the Center for Financial Services Innovation (CFSI) and JPMorgan Chase’s Financial Solutions Lab (FinLab).
Swift has formally launched a new business intelligence solution for securities market participants following the completion of an early adopter programme. Watch for Securities is “ready for full scale use” by local and global custodians, investment banks, asset managers and broker/dealers, allowing them to monitor and gain business insights from their network traffic.
Banking Up, which enables businesses and financial institutions to deploy consumer retail banking services, has appointed Stephen Vogel CEO.
AFS/IBEX, a division of MetaBank, has hired two senior sales executives. Both are long-time veterans of the premium finance industry.
UAE-based payments processor Global Processing Services (GPS), which recently was named a One to Watch: Company in Paybefore Awards Europe, announced that Suresh Vaghjiani has joined its senior management team.
The International Payments Framework Association (IPFA) has appointed a new management team and expanded its focus to include instant or real-time payments.
Limonetik, a Paris-based global digital payments provider, has been included in the list of “Cool Vendors” in the “Digital Commerce, 2015” report by consulting firm Gartner Inc.
Locke Lord LLP’s Robert Courtneidge, global head of the cards and payments practice, placed No. 1 in the Payments 2015 Power 10 rankings.
MasterCard has announced two new appointments in the Asia-Pacific region: Vincent Patru takes on a new role as key account lead, emerging payments, Asia-Pacific, and Philip Glickman joins MasterCard as head of commercial products and solutions, Asia-Pacific.
Prepaid program manager UniRush LLC has hired Stephen Middlebrook as general counsel and chief compliance officer.
Wolters Kluwer Financial Services announced that former federal regulator Sandra Braunstein will provide compliance management and Community Reinvestment Act consulting services to the company’s U.S. banking clients.
Karla McKenna has been named head of standards at the Global Legal Entity Identifier Foundation on a year’s secondment from Citi, where she is director of market practice and standards.
Apple Pay is coming to the U.K., but it’s unclear whether Apple is adjusting its business model to entice issuer participation as it moves across the pond.
Consumers in Canada and the U.K. this week will have access to PayPal’s One Touch for Web payment app, enabling them to pay for purchases with one click after logging in.
Many Russians today are paying for goods and services with e-money or have at least heard of the payment method, according to a study by research agency TNS Russia.
The FDIC draws attention to a standard fraud claim without offering much guidance.
In the latest move to blur the lines between social media and e-commerce, popular social sharing site Pinterest will enable users to make purchases through its platform.
The U.K. might not be a cashless society by 2020, but Visa Europe research predicts mobile payments will help displace cash as they gain popularity.
Reuters research suggests Apple may be having more trouble signing up top retailers to accept Apple Pay than the tech company anticipated.
For the first time since the financial crisis, banks are investing in digital strategies. That’s a step in the right direction, but how banks incorporate mobile into those strategies, ultimately, will determine their success.
Google’s open approach contrasts starkly with Apple’s, which has continued to maintain tight control over all integrated hardware and software components. But what does Android Pay really mean for banks?
Samsung Pay will roll out in September, a bit later than its originally planned summer 2015 launch. But when the m-payments service goes live in the U.S. and Korea, it will include a consumer rewards program.
Cybercriminals are using a new form of malware to steal shoppers’ personal financial data, according to an FBI alert issued to retailers last week.
Home Depot has filed a motion to dismiss a class action lawsuit stemming from a data breach last September.
Despite industry fervor behind mobile payments, 47 percent of U.K. consumers don’t want to use their phone to make payments, with 81 percent citing security concerns, according to a recent survey.
Nearly half of smartphone users do not want to use their device to make contactless payments, mostly over fears about security, according to a survey.
Fintech funding is booming globally and within the overall sector, mobile fintech is getting the most money.
Innovation continues to be a hot commodity in payments, and five U.S. startups have been chosen to participate in Commerce.Innovated., an accelerator program to help companies focused on commerce grow their businesses.
On the heels of Facebook’s app-based money transfer service expanding to New York City and adding functions, money management provider Virtual Piggy Inc. has unveiled a P2P transfer service of its own.
Australian grocery store chain Woolworths is canceling more than AUD1.3 million (US$1 million) worth of gift cards after it mistakenly emailed nearly 8,000 redeemable card codes to more than 1,000 consumers, according to reports.
If Apple Pay provided the first example of a mobile wallet with the right ingredients to finally ignite user (and partner) interest, Google Inc.’s Android Pay platform is poised to accelerate m-payments scale.
New York State’s Department of Labor has published draft regulations for businesses that pay workers with debit cards, including a prohibition on employers profiting from card programs or passing along associated costs to their employees.
Facebook Messenger’s money transfer service has arrived in the New York City market decked out with a few added features.
Equens has announced the first go-live of its new white-label PSP proposition for banks, acquirers and payment service providers (PSPs), which creates a one-stop-shop model for banks, acquirers and PSPs both for offline and online retail payments across Europe.
The ability to browse limitless shops and purchase goods and services from almost anywhere in the world has revolutionised commerce. Yet this revolution is unfinished because no matter what the choice, no matter what the shopping experience, the critical moment of entering personal and payment details can be so complex and lead to the customer abandoning the sale
In the digital age, banks must adapt to new processes and customer expectations quickly. Yet many banks still operate legacy batch systems and have not yet transformed their ITO infrastructure. In association with SAP, Banking Technology is conducting a survey of the number of different systems banks have, and how long it takes for various transactions to occur.
Processors are poised to ignite innovation by rethinking traditional business models and devising solutions for an emerging customer-centered approach to payments.
When it comes to faster payments, the U.S. has reached a tipping point with new technology driving advances that are fueling consumer demand for real-time payments.
Swift is extending its Know Your Customer compliance service into the securities area, making it available to fund distributors and custodians.
Cybercriminals accessed the personal information of about 100,000 U.S. taxpayers in an attack on the IRS’s systems, the agency confirmed this week.
