Samsung Pay Adds 8 New Issuers, Including Chase (Dec. 2, 2015)
Samsung Pay has expanded its roster of supported payment cards with the addition of eight new card issuers.
Samsung Pay has expanded its roster of supported payment cards with the addition of eight new card issuers.
Competition for consumers looking to get their doughnut and coffee fix, among other offerings, has heated up with this week’s announcement of Krispy Kreme’s new loyalty app.
The UK’s Payment Systems Regulator has published draft guidance on its plans for regulating new European payment card legislations that comes into force next week.
A new digital banking startup has received a U.K. banking license, adding another challenger to the growing ranks of financial services providers seeking to contest the dominance of established banks. Tandem Bank is just the second digital-only bank to earn a license from the Bank of England, following Atom Bank, which was licensed in June.
The pressure to build scale rises with new competitors—Android Pay, Samsung Pay and CurrentC—joining Apple Pay in the emerging m-payments fray. Will consumers climb aboard? How they’re using m-payments so far, may tell the tale.
Just under two-thirds of the world’s top nations in capital markets have now adopted international best practices, according to a new report on financial market infrastructures, but more work is needed on trade repositories.
U.S. shoppers flocked to physical and online stores during the Thanksgiving weekend, with more than 151 million Americans shopping in-store and/or online, based on data from the National Retail Federation. The shopping frenzy is expected to continue, with Cyber Monday deals projected to drive 121 million U.S. consumers to shop online. Average spending per shopper was $299.60, and gift cards were especially popular, comprising a whopping 76.6 percent ($229.56) of that average total.
As consumers take to their computers and mobile devices in the hopes of getting great deals today and throughout the holidays, shoppers could fall prey to identity thieves and other scams. To thwart such crimes online and in stores, Visa has kicked off an educational campaign for issuers, merchants and consumers about the network’s security efforts.
Instant payments are a step closer to becoming a reality in Europe, now that the European Payments Council (EPC) has submitted and received approval on its proposal for the design of a pan-European instant credit transfer framework.
Retail banks often claim that customer service is their primary focus, but 75% of banks believe they haven’t concentrated efforts on improving it. Instead, annual reports focus on the financial results. Whether these two stories can become one remains to be seen, according to a new whitepaper by bank technology vendor Misys.
RBS has awarded a contract to Hewlett Packard Enterprise for the implementation of a new image-based cheque clearing service in response to UK regulatory changes that require all cheques to be processed digitally by 2017, under HM Treasury’s Future Clearing Model.
Financial information provider Markit and foreign exchange settlement service CLS have launched a new service for the cross currency swaps market.
Despite predictions over the last few years that banks were just a heartbeat away from adopting cloud technology, only 1% of banks are actually running core processing in the cloud today, according to a new report by Temenos.
Blackhawk Network continues to expand its gifting offerings and global reach with the purchase of DIDIX Gifting & Promotions, a Netherlands-based provider of leisure-themed prepaid gift and promotional cards.
It may be Black Friday this week, but it’s also the deadline to comment on potentially harmful payroll card regulations pending in the state of New York.
Financial market infrastructures must work with the “broader ecosystem” to improve the resilience of the international financial system in the face of “inevitable” cyber-attacks. The latest guidance document from the Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions – Guidance on cyber resilience for financial market infrastructures – looks to […]
Following a federal court’s ruling earlier this year that American Express violated anti-trust laws by prohibiting merchants from encouraging customers to use alternate payment methods, San Francisco’s City Attorney has filed a lawsuit against the payments network, seeking billions in penalties and damages as part of a statewide consumer action.
Ballard Spahr has hired James Kim, a consumer financial services litigator and regulatory attorney.
Creditcall Ltd, an omni-channel payment gateway and EMV migration specialist, has appointed David Butler vice president of operations.
Emergent Payments, a global payments company, announced the hiring of Rossini Zumwalt to strengthen the company in fraud prevention, and compliance and risk management of digital payments in emerging markets.
Keisha Whitehall Wolfe has joined the consumer financial services group as counsel from the office of the commissioner of financial regulation (OCFR) within Maryland’s department of labor, licensing and regulation.
Saxo Payments, a global transaction services provider, appointed Paul Townsend as non-executive director.
Gene Fredriksen, PSCU’s chief information security officer (CISO), was named CISO of the Year by the Tampa Bay Technology Forum (TBTF) at its 12th Annual Industry Achievement Awards Gala.
The Western Union Co., a global payment services provider, has appointed of Elizabeth G. Chambers to the newly created role of chief strategy and product officer.
Apple Pay’s long-awaited arrival in China could be just months away, with the mobile payments service slated to launch in the country by early February 2016, according to a report. Meanwhile, Germany’s Wirecard has launched a new Android-based NFC mobile wallet in four European countries.
French officials are calling for tighter regulation of prepaid products in the European Union, claiming that prepaid cards were in preparation for the terrorist attacks in Paris earlier this month. The proposal to tighten prepaid regulation is part of a broader initiative to combat terrorist financing.
A new study from the Federal Reserve Bank of Philadelphia finds, not surprisingly, that consumers affected by a data breach are much more likely to opt for fraud protection, while those consumers who are unaffected or only hear news about breaches are less likely to use fraud prevention services.
Post-trade technology company Kynetix has launched a blockchain consortium, focused on using distributed ledger technology in commodities markets. The move comes as financial institutions increasingly explore ways to integrate the blockchain concept into mainstream financial services.
Bitcoin may be a step closer to going mainstream now that Coinbase is partnering with Shift Payments to launch a Visa-branded bitcoin debit card that lets users spend the funds in their bitcoin wallets anywhere Visa is accepted.
The payments world is contracting a bit more as U.S. ATM manufacturer Diebold is getting significantly larger, announcing its plan to acquire German-based Wincor Nixdorf for approximately $1.8 billion, or €1.7 billion, creating the largest global ATM supplier.
Five months after Apple Pay’s arrival in the U.K., the contactless payments service is working with London’s transit authority and MasterCard to drive Apple Pay usage for mass transit by offering free rides on Mondays, starting today and running through Dec. 14. Meanwhile, Visa Europe is doing its part to promote Apple Pay in the U.K. with a two-month advertising campaign touting its integration with the payments service.
Non-profit organisation the FIX Trading Community has started posting its projects on developer repository GitHub, as part of a drive to get all of the important resources freely available in one place using a single sign-on. The move was done to encourage wider access and to speed up the development of standards for high-performance trading applications.
De-risking, motivated by short-term risk-reward calculations, should not be allowed to kill off one of the cornerstones of the global financial system. Rather than abandon correspondent banking relationships, banks should be thinking about investing in and automating their risk controls, according to a new whitepaper by PwC.
The CFPB announced in a Nov. 20 blog post that it has updated its regulatory agenda, including the schedule for its final rule on prepaid accounts, which now is expected to be released in March 2016. Several lawmakers have expressed concern over the CFPB’s broad proposed rulemaking on prepaid, noting that consumers, including those that rely on overdraft and government benefits, may be harmed if the rules go too far.
After much prognostication regarding when Square would finally announce its IPO, the m-payments service provider began trading this morning on the New York Stock Exchange under the symbol SQ.
It may be Black Friday next week, but it’s also the deadline to comment on potentially harmful payroll card regulations pending in the state of New York.
London-based Prepaid Financial Services (PFS), an e-money issuer that specializes in acquiring, prepaid and alternative banking solutions, has sold 5 percent of the company to a strategic investor after being valued in excess of £50 million (US$76.5 million).
Funding continues to roll in for fintech startups, with a pair of firms landing investments totaling more than $21 million this week.
The convergence of social media and money transfer has taken another step forward, with China’s biggest mobile messaging app partnering with Western Union to enable users to make cross-border P2P transfers.
Craig James explains how passporting with an e-money license allows U.S. prepaid companies to conduct business in EU countries.