Blackhawk Network has launched a gift card program with grocery chain Albertsons that promises to give shoppers more options for “spring and summer holidays” such as Mother’s Day and Father’s Day, Blackhawk said. The program focuses on category gift cards that run via the Visa payment network.
Mastercard has launched its latest biometric card, combining chip technology with fingerprints to verify the cardholder’s identity for in-store purchases. South Africa is the first market to test the evolved technology, with two separate trails recently concluded with Pick n Pay, a supermarket retailer, and Absa Bank, a subsidiary of Barclays Africa. According to Mastercard, […]
QCash Financial, a provider of small-dollar lending technology for financial institutions, has become a member of the Center for Financial Services Innovation (CFSI)’s Financial Health Network.
Prepaid complaints to the Consumer Financial Protection Bureau (CFPB) in the US hit 2,500 in 2016, accounting for about 0.9% of the 291,400 complaints in agency’s latest Consumer Response Annual Report.
HelloPay Group, which runs the HelloPay payment platform and online shopping and selling site Lazada, has merged with China’s Ant Financial. Ant Financial, part of Jack Ma’s Alibaba Group, runs Alipay and so HelloPay has now been rebranded as Alipay Singapore, Alipay Malaysia, Alipay Indonesia and Alipay Philippines in its respective markets. Douglas Feagin, SVP […]
India-based software vendor Intellect Design Arena is to provide its Intellect Quantum Central Banking System (QCBS) to Central Bank of Armenia.
The recent performance of Zelle Network, the peer-to-peer (P2P) payments platform with the funny name, is no laughing matter for competing P2P providers.
China’s Ant Financial Services Group appears to have beat back a surprise challenge by Euronet Worldwide to acquire MoneyGram. After raising its offer for the money transfer giant by more than one-third, to $1.2 billion, Ant’s bid has earned the approval of MoneyGram’s board of directors. But the deal still must win regulatory and shareholder approval before Ant officially acquires MoneyGram and gains a massive foothold in the global remittance market.
The recent performance of Zelle Network, the P2P payments platform with the funny name, is no laughing matter for competing P2P providers. Early Warning Services, a provider of real-time payments, authentication and risk mitigation services, announced April 17 that its Zelle Network processed more than 170 million P2P payments in 2016, totaling $55 billion in transaction value.
Moving accounts to Simple’s parent bank’s API is not that simple.
Italy’s largest retail bank, Intesa Sanpaolo, and EBA Clearing have successfully completed their first user testing activities on financial technology provider Dovetail’s solution for EBA’s pan-European real-time payment platform.
Italy’s largest retail bank, Intesa Sanpaolo, and EBA Clearing have successfully completed their first user testing activities on Dovetail’s solution for EBA’s pan-European real-time payment platform. Among the institutions funding the new EBA infrastructure, Intesa Sanpaolo is the first one to connect to the test system. The new infrastructure will provide a real-time payment processing […]
US-based Silicon Valley Bank (SVB) has launched new APIs to let its clients programmatically open bank accounts, and send payments using a credit card network and via the automated clearing house (ACH) network. Dan Kimmerling, director, API banking at SVB, says its goal this year is to “develop a broad array of APIs” and wants […]
A year after diving into the campus card vertical with the $4.3 billion acquisition of Heartland Payment Systems, Atlanta-based technology provider Global Payments has unveiled its new TouchNet OneCard VIP service, which the company describes as a single point of access to campus life.
Google is banking on mobile apps to boost its mobile wallet. The Android Pay parent has linked that service to a handful of banking apps, giving consumers the ability add their cards more quickly to the mobile wallet.
Competition in the corporate meal voucher market in India is heating up as providers are launching alternatives to paper vouchers, which the Reserve Bank of India will no longer allow beyond 2017. Among them is online commerce platform Paytm and electronic payments provider Zeta.
State Bank of India (SBI) has centralised its trade finance operations across 25 countries on Misys’ Fusionbanking Trade Innovation platform. Misys’ partner in India, Encore Theme Technologies, assisted with the implementation.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Mastercard gets approval to buy VocaLink for $920m Deal expected to close in coming weeks. Bank of England implicated in Libor rigging by secret recording Well, it was secret. FIS sheds Ambit Private Banking business FIS inherited it […]
Al-Ahli Bank of Kuwait (ABK) has gone live with a new core banking system at its two branches in the UAE. The new platform is Finacle, supplied by Infosys’ product subsidiary EdgeVerve.
The UK’s Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) are calling for input on their approach to applying the second EU Payment Services Directive (PSD2). PSD2 is required to be in place in the UK by 13 January 2018, and the nation’s HM Treasury will transpose PSD2 into UK legislation in the Payment […]
Like an astute player of the Risk board game, Android Pay’s global expansion plans continue apace as it is working with several banks to let their customers add cards to its service from a mobile banking app. The latest banks include Bank of America, Bank of New Zealand, Discover, mBank and USAA. They follow on […]
As the payment method gains popularity, an expert explains why young consumers buying digital content, including games, and transit tickets with their phones will be keys for the future.
We all love food and drink, and mobile service WoraPay has got in-sync and integrated Masterpass, the digital payment service from Mastercard. WoraPay’s service allows customers to buy food and drink, and pay in advance with their mobile. This means customers can order their morning coffee or tea (or whisky if you have a crappy […]
What does Russell Simmons know that banks don’t? GPR can be profitable. Find out how.
A highly fragmented sales environment along with unnecessary expenses are among the main pain points for B2B payments for air travel. Here is what needs to improve.
As major companies report success from mobile ordering, an expert shows what payment providers have to consider before taking the next step.
Congressional Republicans hoping to hobble the CFPB and unwind the law that supports it, the Dodd-Frank Act, have another tool at their disposal.
PayPal’s bid to acquire Vancouver-based bill payment specialist TIO Networks has been approved by TIO shareholders, who overwhelmingly voted in favor of the proposed sale at a special meeting this week.
SWIFT has launched a real-time payment controls service to add to its customers’ existing fraud controls. The fraud and cybercrime prevention service permits its customers to screen their payment messages according to their own chosen parameters, “enabling them to immediately detect any unusual message flows before transmission,” according to an April 12 company announcement.
Swift has unveiled a new real-time payment controls service to add to its customers’ existing fraud controls. The new fraud and cybercrime prevention service will enable its customers to screen their payment messages according to their own chosen parameters, “enabling them to immediately detect any unusual message flows before transmission”. Yawar Shah, chairman of Swift, […]
First Data has been appointed by Sabis, the IT arm of Spanish banking group Sabadell, to provide processing and acquiring services across its subsidiary TSB. First Data will migrate TSB’s credit and debit card portfolio onto its FirstVision platform. Additionally, First Data will power TSB’s digital payments and provide merchant acquiring services for money and […]
Following the announcement WhatsApp will enter into the mobile payments arena, new estimates from Juniper Research claims Apple Pay contactless users will nearly double over 2017.
Addressing the views of the Department of Treasury, the CFPB, and the SEC on the regulation of the fintech industry in the US.
The Central Bank of Iceland (CBI) has chosen Italian firm SIA to implement and support a new real-time gross settlement system (RTGS) and new instant payment platform. These technology infrastructures developed by SIA, are planned to go live in 2018, and will replace CBI’s current mainframe-based real-time solutions for high and low-value payment systems, which […]
The U.K.’s Competition and Markets Authority gave its blessing April 11, enabling Mastercard to complete its acquisition of 92.4 percent of VocaLink Holdings for $920 million. The deal, which is expected to close within weeks, gives Mastercard control of a large portion of the U.K. transaction processing market.
White-label digital banking services provider Urban FT is joining forces with Sunrise Banks.
No doubt banking on the value consumers will place on integrating online coupons into the purchasing experience, payments provider Harland Clarke has agreed to purchase merchant offers marketplace RetailMeNot Inc., in a deal valued at around $630 million.
Fintech entrepreneurs still have a few weeks left to win financial backing from two big players in the payment space. The Center for Financial Services Innovation (CFSI) and JPMorgan Chase’s Financial Solutions Lab (FinLab) plan to award $250,000 to programs that help consumers build financial health, “with a special focus on those communities that are frequently underserved, such as older Americans, communities of color, people with disabilities and products that address the gender wealth gap.”
US-based Silicon Valley Bank (SVB) and First Data are calling on US start-ups to apply for their latest Commerce.Innovated accelerator programme. The four-month virtual programme provides participants with operational mentorship from the pair’s respective networks. Reetika Grewal, head of SVB’s payments strategy and solutions group, says its “small class size allows us to work closely […]
Visa has expanded its Everywhere Initiative innovation programme into Europe as it looks for the “next big thing” in payments. Entrants in Visa’s first-ever European Everywhere Initiative can win up to €50,000 to support a development programme with Visa, or through business partnership with Visa’s clients, and potentially have access to Visa APIs, mentors and […]
