Consumer Awareness of E-Money in Russia is Strong (June 9, 2015)
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.
PayTech
Viewpoint: Why Banks Still May Be Nervous about Banking Nonbank Money Services Businesses
The FDIC draws attention to a standard fraud claim without offering much guidance.
Pinterest Boosts Interest in E-Commerce with New Buy Button (June 8, 2015)
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.
Visa Europe Predicts Mobile Payments Boom by 2020 (June 8, 2015)
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: Retailer Take-Up of Apple Pay Slow (June 8, 2015)
Reuters research suggests Apple may be having more trouble signing up top retailers to accept Apple Pay than the tech company anticipated.
Blog: The Mobile Device: Solution or Form Factor?
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.
Blog: How Does Android Pay Differ from Apple Pay and Samsung Pay for Banks?
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 Pushes Back Launch, Adds Consumer Rewards Program (June 3, 2015)
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.
FBI Warns of New Cybercrime Threat (June 3, 2015)
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 Wants Breach-Related Lawsuit Dismissed, Faces Lawsuit from FIs (June 3, 2015)
Home Depot has filed a motion to dismiss a class action lawsuit stemming from a data breach last September.
Mobile Payments Providers Must Win Over Nearly 50% of U.K. Consumers (June 3, 2015)
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.
Security fears ‘putting people off’ contactless mobile payments
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.
Mobile Fintech Surges in Global Funding Boom (June 2, 2015)
Fintech funding is booming globally and within the overall sector, mobile fintech is getting the most money.
MasterCard, Silicon Valley Bank Support Startups, Innovation with Accelerator Program (June 2, 2015)
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.
P2P Push Continues as Oink Adds Transfer Function (June 2, 2015)
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.
Grocery Store Gaffe Leads to Thousands of Canceled Gift Cards (June 2, 2015)
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.
Android Pay Signals Turning Point for M-Payments
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 Issues Draft Reg for Payroll Cards (June 1, 2015)
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 P2P Hits NYC, Adds New Features (June 1, 2015)
Facebook Messenger’s money transfer service has arrived in the New York City market decked out with a few added features.
Equens launches PSP proposition for banks, acquirers and PSPs
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.
Digital commerce has to get its payment priorities right
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
Take the Banking Platforms Quiz and win an iPad
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.
Viewpoint: The Processing Market Is Ripe for Disruption
Processors are poised to ignite innovation by rethinking traditional business models and devising solutions for an emerging customer-centered approach to payments.
Viewpoint: Acting NOW to Deliver Faster 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 extends KYC compliance services to securities users
Swift is extending its Know Your Customer compliance service into the securities area, making it available to fund distributors and custodians.
IRS Breach Exposes Data of 100,000 Taxpayers (May 27, 2015)
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.
Gift Card Buyers, Recipients Want It All: Plastic, Electronic, Omnichannel (May 27, 2015)
Gift card providers should expect stronger sales as the weather gets warmer and summer celebrations get into full swing, according to the latest research from the Retail Gift Card Association (RGCA).
Cash No Longer King in U.K. (May 27, 2015)
The U.K.’s share of electronic payments transaction volume surpassed cash for the first time last year, according to the London-based Payments Council, which tracks payments data for Britain.
Innovators’ Spotlight: Mozido
If you’re tracking the hottest topics in payments, watch Mozido. Over the past several months, the Austin, Texas-based mobile wallet provider has been investing, hiring and expanding in sync with the most important industry trends.
CFPB: Final Prepaid Rule Coming in January ‘16 (May 26, 2015)
The CFPB’s final rule for prepaid financial products will come in January 2016, according to the agency’s latest rulemaking timetable.
Will Android Pay Make Banks Line Up for Google Wallet? (May 26, 2015)
Strong signs suggest Google Inc. this week will announce Android Pay, its new mobile payments API for developers, likely revitalizing prospects for Google Wallet, and kicking off a summer of fresh m-payments competition, putting the heat on Apple Pay and other emerging approaches.
Report: Blockchain Could Benefit Banks (May 26, 2015)
Issued by the European Banking Association (EBA), the report cites several possible use cases in which cryptotechnology can help banks reduce costs, improve product offerings and speed new product development.
CFPB Updates Consumer Complaint Manual (May 26, 2015)
The CFPB this month updated its Company Portal Manual, which explains in detail the process when consumer complaints are submitted to the bureau as well as the procedures companies must follow if they wish to respond to a complaint.
MasterCard Issuers Reject Proposed Deal in Target Breach Case (May 26, 2015)
A settlement between MasterCard and Target stemming from the retail giant’s 2013 data breach has been scrapped after failing to earn approval by enough MasterCard-issuing banks.
People on the Move: Martin Hood, CashStar Inc.
CashStar Inc., a provider of digital gifting technology and Paybefore Award winner, has appointed Martin Hood as vice president of channel partnerships.
People on the Move: Wayne Grosse, Joan Opp and Kent Oram, CO-OP Financial Services’ Board
Three new members have been elected to CO-OP Financial Services’ board of directors: Wayne Grosse, Joan Opp and Kent Oram.
Company on the Move: Limonetik, New U.K. Subsidiary
Limonetik, a Paris-based global digital payments provider, has expanded internationally with a new subsidiary in the U.K., Limonetik UK Ltd. The company also has appointed Clive Williams managing director and Masha Cilliers principal consultant.
People on the Move: Tom Ryan and Amy Sink, PSCU Board
PSCU, a credit union service organization, has added two members to its board of directors.
People on the Move: Robert Butler, Brian Day and Corey Weeklund, The Members Group (TMG)
Payments processor The Members Group (TMG), a credit union service organization, has announced a new vice president, as well as the promotions of two employees.
Mobile banking: what consumers really want
The growth of mobile money has been a steep upward curve and looks set to continue – Juniper Research predicts that there will be one billion mobile banking users worldwide by the end of 2017, up from 590 million in 2013. A recent Forrester report predicted that purchases on mobile devices would double by 2018, as even more people become comfortable buying online and retailers create more user-friendly mobile experiences
