Hellenic Bank to launch open APIs
Cyprus-based Hellenic Bank is readying the first project by its recently unveiled innovation lab – open application programming interfaces (APIs).
PayTech
The big fight brewing over strong customer authentication
Late last year, Visa fired a volley – unlikely to be the last – over new rules that it and all providers of online transactions will soon need to follow as part of the EU’s revised Payment Services Directive (PSD2). It has some doom-laden predictions.
Top fintech stories this week – 3 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Netspend Hires Veteran Jeff Johnson to Lead Commercial Prepaid Channel
Netspend has landed a 20-year prepaid industry veteran in Jeff Johnson to manage the financial services provider’s commercial prepaid channel, the company announced March 2. The freshly minted senior vice president for commercial prepaid will oversee Netspend’s programs for paycards, incentives, disbursements and awards, as well as the Tip Network, which serves businesses whose employees supplement their incomes with tips.
Mastercard Continues Masterpass Push with Postepay Integration
Mastercard and Poste Italiane have struck a new deal under which the Italian postal service’s Postepay app has integrated Masterpass to enable users to make mobile purchases—a deal the companies hope will appeal to Postepay’s large base of younger users.
Bots and Biometrics: The Mobile World Congress Shows the Future of Payments
Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media.
Japan edges towards blockchain commercialisation
SBI Ripple Asia and the Japan Bank Consortium have “successfully” completed a pilot implementation of RC Cloud, Ripple’s unified blockchain platform for domestic and cross-border payments. As Banking Technology reported last year, the consortium (full name “The Japan Bank Consortium to Centrally Provide Domestic and Cross-border Payments”) officially launched with 42 member banks. As of […]
Survey smiles on worldwide payment schemes
Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.
Mastercard makes global mobile payments go Qkr
Mastercard says it will significantly expand the scope and capabilities of its Qkr with Masterpass mobile payment service. Not only is the technology set to debut in the US and five other countries, but it will now integrate with retail software provider Oracle, reports Banking Technology‘s sister publication Paybefore. At the Mobile World Congress in […]
Prepaid Complaints Remain Low in Latest CFPB Monthly Snapshot
Complaints about prepaid products went down again from November 2016 through January 2017, with the CFPB reporting a monthly average of 206 prepaid-related complaints in that period, down from 237 per month during the same period a year earlier.
People on the Move: Lisa McFarland, Craig Eckstrom, William Zielke, Ingo Money
Push payments technology specialist Ingo Money has announced several leadership changes as it looks to expand its business.
Mastercard, Transport Authority Test Contactless Cards While Eying Mobile Payments
Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot program enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system. Although the tap-and-go pilot hasn’t begun yet, the next step of enabling consumers to use mobile wallets and wearables already is in the works.
Survey Finds Payment Schemes Worldwide Optimistic, Looking to Cooperate
Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.
Study: Big Box Stores, Plastic Cards Dominate in Loyalty, Corporate Rewards
In a sign that many consumers use gift cards to purchase everyday household items, big box retailers continue to lead loyalty points and rewards redemptions in the U.S., according to a new study from the National Gift Card Corp. (NGC).
Bank for International Settlements issues analytical framework on DLT
The committee on payments and market infrastructures at the Bank for International Settlements (BIS), an international financial institution owned by central banks, has issued an analytical framework on distributed ledger technology (DLT) in payment, clearing and settlement.
First New Clearing Bank in 250 years Enters U.K. Market
There’s a newcomer on the U.K. challenger bank scene, but it’s not wooing consumers. As a bank for banks, other FIs and fintech companies, ClearBank will offer customers access to U.K. payment systems and core banking technology to support current account capabilities.
Mastercard Gives its Mobile Payments a Bigger Global Stage
Mastercard significantly will expand the scope and capabilities of its Qkr with Masterpass mobile payment service, the network said Feb. 27. Not only is the technology set to debut in the U.S. and five other countries, but it will now integrate with retail software provider Oracle.
Poll Results: Will the CFPB’s Prepaid Rule Be Repealed?
Congress is considering a joint resolution to repeal the rule, which was released last year. If that happens, what will be the result? Our readers respond.
Top fintech stories this week – 24 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! IBM and Northern Trust debut blockchain for private equity Uses the Hyperledger Fabric. Visa opens new innovation centre in London It’s the latest and largest one. Digital gets a spurt with Natwest and RBS experts Every branch gets […]
Must-Reads of the Month: February
See what’s hot on Paybefore.com this month, including Global Cash Card’s win against onerous payroll card regulations in New York; the CFPB fending off attacks on multiple fronts; a new Blackhawk same-day rebates program; and more.
More than making nice: why payments execs are wooing merchants
The payments industry invitation to merchants to play a bigger role in innovation seems serious and pragmatic, writes our senior editor, an e-commerce expert.
How to Make a Multigenerational Global Impact with Prepaid
With the worldwide prepaid market set to hit $3.1 trillion by 2022, providers need to have a firm handle on who those prepaid consumers will be, and how they will shop.
It’s Time to Rethink Service Level Agreements
SLAs provide various metrics upon which service is judged. But in many cases, those metrics—and the business expectations of deals—prove unrealistic and could lead to poor decisions and wasted money.
2017 Pay Awards Categories
Before you enter the 2017 Pay Awards, explore our 24 categories.
Mogo’s New Prepaid Product Taps into Growing Canadian Market
Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada.
People on the Move: Mark Connolly, The Bancorp
The Bancorp has appointed Mark Connolly as executive vice president and head of credit markets.
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.
