Users of Vodafone’s mobile wallet soon will be able to make NFC in-store purchases via a linked bank-issued Visa credit or debit card after the telecom operator struck new deals with Visa and Carta Worldwide.
Following last week’s Optimal Payments purchase of Skrill for $1.2 billion, another $1 billion-plus will change hands in two more acquisitions that will have global implications for the payments companies involved.
Banks need to recognise that building a wall to keep cyber security threats out will not work. With breaches from both sides of the wall inevitable, financial institutions would do better to pare down their activities and focus on defending their core assets – including intellectual property and transactional systems.
Google is working on developing a Gmail-based bill payment service called Pony Express, which could roll out as early as the fourth quarter.
As retailers prepare for the year’s second-largest shopping season—Mother’s Day, Father’s Day and graduations—First Data research from the 2014 holiday season can help retailers drive gift card sales.
Ingo Money’s purchase of Fuze Network Inc.—a payments technology provider enabling loads to more than 1 billion payment cards at thousands of retail networks—closed last month.
More than half (51 percent) of mobile banking users in the U.S. had deposited a check using their mobile phones last year, up from 38 percent in 2013, according to the Federal Reserve’s latest study, “Consumers and Mobile Financial Services 2015.”
New Canadian exchange Aequitas NEO has gone live for the first time, using the MillenniumIT trading platform built by the London Stock Exchange’s Sri Lanka-based subsidiary.
Optimism among UK financial services firms rose strongly in the three months to March and profitability improved in most sectors, according to the latest quarterly CBI/PwC Financial Services Survey, but despite overall business volumes continuing to increase, the pace of growth was the slowest in a year
Host card emulation specialist Bell ID is enabling the launch of ANZ New Zealand’s upgraded goMoney mobile app, which is set to feature a cloud-based HCE NFC mobile wallet. The project, for the New Zealand division of ANZ Bank, will bring contactless mobile payments to the smartphones of more than 120,000 ANZ customers. The ANZ […]
Despite rapid increases in innovation spending in financial services, many banks are still worried that it is taking too long to roll out new technologies – and that their own fragmented organisation is getting in the way, according to a new report by Accenture.
Gaps in merchant readiness for the U.S. EMV migration may cause banks to move more slowly in issuing new credit and debit cards equipped with EMV chips, a new study from Auriemma Consulting Group suggests.
An industry group is calling 2015 the “year of the prepaid economy” in the U.K., as consumers there increasingly adopt prepaid cards for everyday spending, online shopping and transit.
U.K.-based Monitise plc is no longer for sale.
Tanzania is taking steps to tighten up electronic payments against fraud, with the government working to establish best practices, regulations and supervision of efficient, effective payment, clearing and settlement systems, according to Finance Minister Saada Mkuya Salum.
Long-term investors are deeply concerned about their ability to find liquidity, with nearly 90% afraid that predatory high-frequency traders are preying on their flows, according to a new survey by block-trading network Liquidnet.
Santander has launched the UK’s first standalone ISA mobile app , which was designed and developed with mobile specialist company Monitise.
Türk Ekonomi Bankası is to launch a mobile contactless payment application using Visa Europe’s host card emulation functionality to provide secure contactless payments.
Standard Chartered has named Michael Gorriz as group chief information officer, replacing Jan Verplancke, whose departure was announced earlier this year. Gorriz is currently vice president and CIO at Daimler.
Square Inc. this week poured more heat into P2P with the debut of Square Cash for Business, an extension of its consumer-targeted Square Cash P2P product launched in 2013.
The CFPB received nearly 5,800 comments on its proposed prepaid regulations before yesterday’s deadline.
A quartet of congressmen has formed a group to explore and support emerging payment technologies.
Hotspot, the institutional foreign exchange market owned and operated by BATS Global Markets, is to expand its European presence with the launch of its first Europe-based FX matching engine later this year. The new matching engine will be located in the London Slough Campus data centres and will target Europe and Asia and specific FX currencies that dominate the European and Asian trading hours.
The Banking Industry Architecture Network has announced six new members including ACI Worldwide, Atos, EY and Zafin. Its global network now numbers 58 banks, service providers, software vendors and academic partners.
The NBPCA is calling on the CFPB to limit the scope of its proposed prepaid regulations to focus on primary transaction accounts and to, among other things, simplify disclosures rather than adding complexity for consumers.
Two of Europe’s biggest e-commerce brands are coming together. Optimal Payments today announced plans to acquire rival Skrill Group for €1.1 billion (US$1.2 billion).
Following a November 2014 request for information, the U.K. government plans to apply anti-money laundering regulation to digital currency exchanges, which it says will support innovation and deter crime.
The Plato Partnership is a consortium of asset managers and broker-dealers working to build a non-profit trading utility in Europe. The group has just signed four more asset managers, including AXA Investment Managers, JP Morgan, Union Investment and Fidelity Worldwide.
Banks have been warned that new entrants will come and ‘eat their lunch’ if they fail to remain relevant to the modern consumer in the face of an ‘unstoppable revolution’. The point was made repeatedly during sessions at the Payments International conference in London this week.
Now that Facebook has made its move to launch P2P within its Messenger app, the question is how it may affect competitors—including financial services providers pushing P2P—and fit into the company’s long-term goals.
Building on the growth of electronic payments MasterCard has been experiencing in Brazil, the card network this week signed a 20-year deal with Itaú Unibanco, resulting in a new electronic payments network in the country, according to an announcement.
The CFPB is finalizing its consumer narrative policy and, 90 days after the policy is published in the Federal Register, consumers who have opted in will be able to make their complaints about financial products and services in the bureau’s Consumer Complaint Database public.
Following its February Pay World Best-in-Category win for its Paylution Prepaid Card, Vancouver, B.C.-based Hyperwallet yesterday unveiled a new brand identity and revamped product line of Mass Payments Solutions.
MasterCard Worldwide has appointed Betty DeVita as chief commercial officer of MasterCard Labs, the company’s global research and development arm focused on payments innovations.
Global online payment solutions provider Optimal Payments has appointed Shane Hibbeler as vice president of sales.
Ripple Labs, creators of the Ripple payment protocol, has named Anja Manuel, a former U.S. Department of State official, as an adviser to the company.
Grass Roots, a provider of employee and customer engagement solutions, has appointed Simon Mitchell to the role of global account director.
Wave Crest Group Limited, a global digital payments provider, has named John Racine as its executive chairman.
The CFPB on March 17 announced a request for public comments on how the credit card market is functioning and the impact of credit card protections on consumers and issuers. The inquiry, which is required by the CARD Act every two years, will focus on issues including credit card terms, the use of consumer disclosures, […]
Walmart’s Paybefore Award-winning Rapid Reload service now is enabling reloads for more than 100 prepaid card programs with the integration of the Visa ReadyLink reload network.
