MasterCard is partnering with relief organization World Vision International to deliver humanitarian aid assistance via electronic payment technologies, including the Pay Award-winning MasterCard Aid Network.
The Verifone Carbon, designed for such businesses as cafes and retail stores, enables not only payments but personalized marketing messages targeted at consumers. Verifone says the launch helps showcase that it’s competing on a design and innovation standpoint, not just by providing security and scale.
The blockchain (and bitcoin) industry welcomes regulations, but has to share the limelight with other digital currencies, as regulators look to deal with its rise and implications. At yesterday’s (4 April) afternoon session, “Blockchain and digital currency: Regulatory perspectives” at Money 20/20 in Copenhagen, a panel discussed the burning issues of the day. Present were […]
Payment companies need to collaborate, not compete, when it comes to dealing with the threat of card fraud. At this morning’s (5 April) session, “Innovations in card not present fraud” at Money 20/20 in Copenhagen, a panel discussed the issue in a lively and quick chat. Present were moderator Andrew Jamieson, head of innovations, UL; […]
Western Union Business Solutions has unveiled a brand new payments platform for SMEs, WU EDGE. The project has been 18 months in the making and is available to new and existing customers for free. WU EDGE is cloud-based, and is designed to be a single global payments tool for businesses worldwide. It will go live […]
Amazon is stepping on the gas when it comes to expanding its payments business globally. The e-retail giant today announced the launch of the Amazon Payments Partner Program in four countries. In an interview at Money20/20 Europe in Copenhagen, Patrick Gauthier, vice president, Amazon Payments, talked to Paybefore about the company’s payments plans and how it’s winning over merchants.
Figures from MasterCard and Visa show robust increases in EMV cards and merchant acceptance. More than two-thirds of MasterCard-branded cards carry the anti-fraud technology while Visa says it has more than 212 million EMV cards.
Google Wallet is phasing out its companion plastic prepaid card as Google continues to reposition the wallet app as a P2P money transfer service. The Google Wallet Card no longer will be supported as of June 30, 2016, Google announced in a blog post.
Realex Payments, a European payment service provider and part of the Global Payments group, has signed a two-year outsourcing contract with Allpay, a UK bill payments collection specialist. The agreement will see Allpay’s online payments processed through Realex’s managed eCommerce solution, and Realex says it will process approximately £1 billion transactions each year over the contract. […]
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Will Simon Bateman, the new CIO of London-based Harrods Bank, restart the bank’s long-suffering core banking software overhaul? Bateman moves from another UK-based bank, Aldermore, where he spent around three years, first as transformation and change director and then as head of IT for the savings business line. Aldermore, a small domestic bank focused on […]
The Depository Trust & Clearing Corporation (DTCC) and Digital Asset Holdings have teamed up to develop and test a distributed ledger (blockchain) solution for repurchase agreement (repo) clearing. Blockchain will be used to manage the clearing and settlement of US treasury, agency, and agency mortgage-backed repo transactions. Mike Bodson, president and CEO of DTCC, says: […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Samsung Pay launches in China Big market, big appeal. FIS and Vocalink first to supply access to Faster Payments A number of banks are also lined up to connect directly this year. UK credit unions busy with tech […]
Walmart is adding a new rewards program to its Pay Award-winning prepaid MoneyCard that will give cardholders cash back on purchases made in-store, online and at the fuel pump. The news follows American Express’ launch of 1 percent cash back for Serve cardholders and could signal stiffer competition in the GPR space
As the IRS and industry continue to fight identity theft-related tax refund fraud, the agency’s Criminal Investigation Program initiated 776 investigations into ID theft fraud during the 2015 fiscal year, according to the IRS’s newly released 2015 Data Book.
Mobile banking use in the U.S. has increased to 43 percent of adults with capable devices. But only a relative few of those consumers have paid bills with their mobile phones.
An Accenture survey finds not only that most consumers prefer people over digital channels for customer service, but that human-based interaction can save hassles.
Portugal’s central securities depository Interbolsa, a subsidiary of Euronext Lisbon, has completed its migration to Target2-Securities (T2S). Although delayed, T2S is one of the largest infrastructure projects launched by the European Central Bank. T2S provides a centralised European platform for the settlement of domestic and cross-border securities transactions. Through T2S, Interbolsa allows for core, neutral […]
Exchange group SIX and Switzerland’s five largest banks are in talks over a joint mobile payments platform for the country. SIX, retail chains Migros and Coop, and telecoms company Swisscom are planning to create a standardised digital payment system for consumers in Switzerland. A joint statement from the banks – UBS, Credit Suisse, Raiffeisen, PostFinance […]
Lombard Risk Management and Oracle Financial Services have teamed up to deliver a global regulatory reporting solution. Called Oracle Financial Services Regulatory Reporting Solution (OFSRRS), it automates the end-to-end process and integrates Oracle’s Financial Services Data Foundation (FSDF) compute engines with Lombard Risk’s regulatory reporting solution AgileReporter. AgileReporter is the latest version of Lombard Risk’s […]
With the new era in global tax reporting, Thomson Reuters is conducting a survey to gauge the level of the industry’s readiness for FATCA and CRS. Evolving global regulations around tax transparency are challenging organisations around the world to implement new procedures. Are you ready? We are calling on you to help us create a […]
Global risk and compliance and payments solutions provider Accuity has opened a new office in Miami to serve new and existing clients in Miami, Central America, Mexico, Colombia, Venezuela and the Caribbean.
Javelin Strategy & Research has announced that Emmett Higdon has joined the firm and will assume the role of director of mobile.
The Hyperledger Project—a collaborative effort, led by the nonprofit Linux Foundation, with the goal of establishing an open blockchain distributed ledger platform that will satisfy a variety of use cases across multiple industries—has announced newly elected leaders of its governing board and technical steering committee, along with new corporate members.
The Retail Gift Card Association (RGCA) has elected five new members to its board of directors and appointed two current board members to executive-level positions.
John Sloan has been named president and CEO of Allegiance Capital Corp., a Dallas-based private investment bank.
Croatia’s Splitska Banka has gone live with SB SmartNet, a new internet and mobile banking system provided by Polish IT specialist Comarch. SB SmartNet, based on Comarch’s Smart Finance solution, will give Splitska’s retail customers access to account information as well as a multitude of transactional services. The mobile version is designed for iOS and […]
Sweden’s Länsförsäkringar Bank has become the first bank in the country to take TCS Financial Services’ Bancs core banking system. Meanwhile, Temenos and SAP are also busy with core renovation projects in the region (see below for more details). TCS will provide system integration and support services to Länsförsäkringar, the fifth largest retail bank in […]
The IRS has concluded that a company can defer the recognition of advance payment income received from the sale of unredeemed gift cards that are redeemable for goods or services for up to two years.
Asset management firm Blackrock is trialling Symphony’s new financial messaging app. The app is being tested by part of Blackrock’s workforce and it is “looking to roll it out more widely in the coming months”. Blackrock is a major name to come onboard and the firm has 13,000 employees. However, Symphony has had success before […]
Starbucks plans to add another prepaid card to its popular loyalty program, enabling members to earn points for purchases made at other retailers. The Starbucks Reward Prepaid Card is issued by Chase and runs on Visa’s payment network, meaning cardholders can use the card anywhere Visa is accepted and earn loyalty points for Starbucks.
New approaches to authentication are kicking into high gear as eBay joins the FIDO Alliance, which promotes biometrics, while IDology launches a mobile authentication product.
The OCC will release a paper to start discussions on new regulations for financial startups, which banks reportedly want.
The U.S. Department of Justice has dropped its legal claim against Apple Inc. over the FBI’s request that the tech company help unlock the iPhone of one of the shooters in last year’s attacks in San Bernardino, Calif. According to a court filing, the FBI was able to access the device without Apple’s assistance.
Want to see the global fintech landscape summed up in an easy on the eye and effortless to digest infographics? You have come to the right place – this excellent infographics has it all, from the hottest start-ups today and those to watch in 2016 to the most supportive countries and governments as well as top investors. […]
Merchants have been challenging state surcharge laws, but the courts stand firm.
A Radio Shack gift card holder’s motion to get his legal fees and expenses paid first in the electronics retailer’s Chapter 11 case has been denied. Consumers with Radio Shack gift cards may file a claim by Dec. 2, 2016and if the claim is judged to be valid, claimants will receive 100 percent of the card balance, according to the Website.
Swift has signed a memorandum of understanding (MoU) with China International Payment Service (CIPS Co.) to develop China’s cross-border payments infrastructure. The agreement sets out plans to use Swift to connect China’s Cross-border Interbank Payment System (CIPS) with its global user community. Alain Raes, Swift chief executive of Asia Pacific and EMEA, says there are […]
ATM maker Diebold says it has met the tender condition for Wincor Nixdorf shares as part of a $1.8-billion acquisition. Last year, US-based Diebold agreed to buy out its German rival. The deal will see the creation of an ATM titan worth about $5 billion in sales and give Diebold a stronger presence in Europe. […]
The National Retail Federation and the Electronic Payments Coalition don’t agree on much when it comes to interchange, but the two groups each have reached out to the Fed arguing that consumers aren’t benefiting enough from the cap on debit card interchange.
