People on the Move: Mark Connolly, The Bancorp
The Bancorp has appointed Mark Connolly as executive vice president and head of credit markets.
PayTech
People on the Move: Xavier Ballarin, Gerardo Talavera, Evolis
Evolis, a global provider of personalization systems for plastic cards, is reorganizing its U.S. operations, opening a new office near Boston to be headed by Xavier Ballarin.
People on the Move: Mark Engels, Hyperwallet
Mark Engels has joined global payments provider Hyperwallet as chief revenue officer.
Company on the Move: InComm, InComm Canada, Vendor of the Year Awards
Prepaid services provider InComm and its Canadian affiliate InComm Canada each have won vendor of the year recognition by a retailer partner.
People on the Move: Brian Randolph; Jason Holderness; Jacob Bennett, National Merchants Association
The National Merchants Association (NMA) has filled three key leadership roles, appointing Brian Randolph as chief operating officer, Jason Holderness as chief technology officer and Jacob Bennett chief risk officer.
People on the Move: Michael Scully, Passport
Parking and transit technology payment systems provider Passport has appointed Michael Scully chief product officer.
Company on the Move: PaymentsCompliance, Card & Payments Awards
PaymentsCompliance, a provider of business intelligence to the global payments industry, was named “Best Payments Industry Newcomer” at The Card & Payments Awards 2017, which took place at the Grosvenor House Hotel, London, on Feb. 2.
TransferWise bot wises up to Facebook Messenger
Residents of the US, UK, Canada, Australia and Europe can now send money and set up rate alerts using TransferWise’s chatbot, launched on the Facebook Messenger platform. According to TransferWise, for regular payments between two currencies, rate alerts will keep users updated on the daily exchange rate. Scott Miller, TransferWise head of global partnerships, says […]
Payments round-up: 21 February 2017
One is the loneliest number that you’ll ever do… so three stories in one will do better. Here’s a round-up of key events to save you time. Featuring Macquarie Bank, Apple Pay and more. The European Banking Authority (EBA) has relaxed its planned rules for increasing choice in how consumers pay for services and products […]
Q&A with Walt Granville, Cachet Financial Solutions
No more “one and done.” That’s central to Cachet Financial Solutions’ mission for its prepaid clients and was the impetus for platform upgrades that were nearly a year in the making. Paybefore spoke with Walt Granville, senior vice president of mobile innovation, about what’s resonating with clients and how Cachet is using optimized mobile apps to help them fight churn.
Innovators’ Spotlight: Raise
The Chicago-based startup enables consumers to easily purchase and redeem e-gift cards right from their smartphones, essentially turning unwanted e-gifts into a convenient and useful form of digital currency.
Top fintech stories this week – 17 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Mobile payments in the age of the customer
The mobile payment market is getting more congested every day. For banks, it’s the most frequent touchpoint – one that can help (re) establish everyday relevance and drive engagement. How can banks develop their strategy and prioritise the capabilities that will help them remain valuable to their customers?
N.Y. Grants Global Cash Card Petition against Labor Dept. Paycard Regs
Payroll card providers that operate in New York can breathe a huge sigh of relief. Global Cash Card tells Paybefore that its petition against the New York Department of Labor payroll card regulations due to go into effect on March 7, 2017, has been granted. The industry had been raising red flags about the regulations, which many feared would result in providers exiting the market, since first proposed in 2015.
PayPal Bolsters its Prowess in Cash Transactions with TIO Buy
Seeking to increase its foothold among customers who prefer cash, PayPal will spend approximately $233 million to buy Vancouver-based bill payment firm TIO Networks. The acquisition is not PayPal’s first move to gain the business of consumers using cash.
Webinar Recap: How to Capitalize on Millennial Paycard Opportunity
More than 5 million U.S. millennials don’t have a checking account, and a third say payroll cards would be a valuable way to receive wages. With their distaste for traditional bank accounts and high level of interest in payroll cards, millennials represent a natural and significant market opportunity.
CFPB Seeks Help in Tackling Thin-, No-File Challenge
In a Feb. 16 field hearing, the CFPB said it wants industry input on using alternative data to help thin- or no-file consumers build credit scores. It’s a challenge that many in the prepaid industry have been trying to solve for years to better serve cardholders who often are among the approximately 26 million U.S. consumers who don’t have a credit history and another 19 million consumers whose credit histories are insufficient to produce a credit score, according to CFPB estimates.
Swift’s global payments innovation initiative now live
Major global transaction banks are now live with Swift’s global payments innovation (gpi) initiative.
Mobile money: the state of play
With mobile money technology widely available, and so many citizens having access to a mobile phone, how many are actually banking in this way? What are the benefits available to them when using mobile money? And what does the future hold for this fintech innovation?
8th Circuit Tells Lower Court to Take another Look at Target Data Breach Settlement
The case creates new issues surrounding standing and how to resolve and settle class action claims in the context of privacy and data protection suits, where some members of a group have not suffered concrete harm and thus may not be able to meet the concrete and particularized injury prong of the test for standing.
White House: CFPB Exempt from ‘1 In, 2 Out’ Rule
The CFPB is not required to comply with President Trump’s executive order limiting new regulations, according to a memorandum from The White House. Trump’s order—which requires covered agencies to repeal two regulations for every one new regulation adopted—does not apply to the CFPB, which is considered an independent agency.
Virtual Piggy Crafts Mobile Wallet Product for Young Consumers
Pay Award-winning Virtual Piggy said Feb. 14 it soon will begin testing a mobile wallet for consumers age 17 and younger, the latest move in the parent-supervised world of mobile payments.
Voting Results: Compliance Titans of Payments
Keeping current with the myriad and constantly changing rules and regulations in the payments industry is no easy feat. It takes special people who are sharp and determined to understand and navigate the legal minutiae and how they applies to their organizations or those of their clients. Paybefore is highlighting the achievements of these Compliance Titans, and we need your help.
New Blackhawk Program Offers Same-Day Rebates for Utility Customers
Capitalizing on consumer demand for cashback rewards, Blackhawk Network has launched a new rebate processing solution that helps utility service providers offer a rebate consumers can receive on the same day of service via prepaid card.
Global ATM Hacker Sentenced to 8 Years in Prison
The ringleader of three highly organized, global cyberattacks on ATMs resulting in $55 million in losses was sentenced Feb. 10 to eight years in prison and ordered to pay more than $55 million in restitution.
Top fintech stories this week – 10 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Temenos cuts jobs in US; eyes D+H payments business EXCLUSIVE. US layoffs cited as around 60 by some sources. Ziraat Bank London to replace legacy core banking tech EXCLUSIVE. Misys Fusionbanking moves in. Banks and UN launch sustainable […]
Viewpoint: Why Better Payments Security Requires More Sharing
When payment systems come under attack, the broad retail and service economies suffer. That’s why legal concerns and information-sharing programs need to be reexamined.
The rise of in-app commerce
In-app payments are cannibalizing more traditional payments.
Viewpoint: What Openness Means for Payments, Fintech Future
With regulators opening up the payments infrastructure and consumers and business clients demanding á la carte but interoperable financial services from a variety of players, the industry and its would-be disruptors must adapt.
Prepaid Gains More Love from Canadians, but Bank Execs Might Have Worries
Reloadable prepaid cards are a hit with Canadian consumers, with 95 percent of them saying they are satisfied with the products in 2016. That represents an increase of 22 percentage points from 2015, and stands as the highest satisfaction rate for all payment tools, according to the second annual survey from the Canadian Prepaid Providers Organization.
PayPal’s New Pal Is its First Payments Bot
PayPal has a new pal—namely its first bot that enables Slack users to move and manage their money in a conversational and casual style. The PayPal bot is available to 5 million Slack users in Australia, Canada, the U.K. and the U.S.
People on the Move: Maikki Frisk, Mobey Forum
Maikki Frisk has been named executive director of Mobey Forum, the global industry association aimed at helping banks and other financial institutions to lead the future of digital financial services.
People on the Move: Cristina Astore, SIA
Cristina Astore has been named director of the international division for SIA, a European provider of payments technology and services.
People on the Move: Robert Stock, Simility
Fraud detection specialist Simility has announced that financial services veteran Robert Stock has joined the company as head of global business development.
People on the Move: Gautam Kalro, TransferTo
B2B cross-border mobile payments specialist TransferTo has appointed Gautam Kalro as country head, India, to lead the company’s expansion in that country.
People on the Move: Philip McHugh, TSYS
TSYS has named Philip McHugh as senior executive vice president, as well as president of TSYS Merchant Solutions, effective May 1.
People on the Move: Anthony Dandola, Urban FT
White-label digital banking services provider Urban FT has named Tony Dandola to the role of chief compliance officer.
PayPal’s new pal is its first payments bot
PayPal has a new pal – namely its first bot that lets users move and manage their money in a conversational and casual style. It is built on the Slack messaging platform, which has five million daily active users and lets teams centralise conversations. With the bot, people can send money between PayPal accounts without […]
Amazon Hits another High Note with Payments
In yet another sign that simplifying checkout for consumers is key to driving e-commerce payments, Amazon on Feb. 7 said that more than 33 million consumers have used its Amazon Payments service since its launch in 2013—and that the volume of payments “nearly doubled” in 2016 compared with the previous year. But don’t count on the e-commerce giant to be content with online payments alone.
Modern payments and banking APIs
Modern banking is not limited to banks anymore. It’s not only about online or mobile banking, it’s about all the things you would do in your banking system, but now you can do in apps or other solutions provided by third parties, not banks. Payments are one of such functionalities.
