Payments


Viewpoint: How the Ripple Protocol Could Change Payments

Unless you’re a mathematician or a bitcoin fan, trying to understand what Ripple is—and why it’s so revolutionary—requires a bit of research (not to mention a double espresso!). That being said, here at Hyperwallet, we definitely think this new technology is worth investigating. In fact, I’d wager a bet that, within just a few years, Ripple could become as important to the world of payments as the Internet is to the world of information today.

Q&A with Brad Fauss, NBPCA

The NBPCA’s newly elected president and CEO spoke with Paybefore about priorities, what happens behind the scenes of the association, and the work that lies ahead for an industry that must continue to raise awareness on the Hill.

Europol: cash is still king – for criminals

More than 30% of all suspicious transaction reports in the European Union are triggered by the use of cash, according to Europol, with the €500 note – not widely used for payments – still in demand.

Apple mops up mobile payments market

iPhone devices account for more than one in three mobile transactions, and are used for 10% of all global online transactions, according to new figures published by payment specialist Adyen.

Retail Gift Cards Rebound in 2014 (July 7, 2015)

After a sluggish 2012 and a double-digit drop in 2013, total dollars loaded onto retailer-issued, closed-loop prepaid cards rebounded with a 13 percent increase last year, according to Mercator Advisory Group’s latest report.

Starting Young Key to Financial Literacy, Says Presidential Panel (July 7, 2015)

Equipping young Americans with the knowledge they need to make smart financial decisions should start as early as pre-kindergarten, according to a new report from a group of experts tasked with finding ways to promote financial capability among the young. Created by a 2013 executive order from President Obama, the President’s Advisory Council on Financial […]

PSR papers set out scope for Payments Strategy Forum

The UK’s Payment Systems Regulator has published a series of papers describing its work on the creation of the Payments Strategy Forum, the body it is creating under independent leadership to bring together regulators, industry and users.

N.Y. DOL Extends Comment Period for Payroll Card Regs (July 6, 2015)

Payroll card providers now have until July 31, 2015, to respond to the New York Department of Labor’s proposed payroll card regulations, which prohibit fees for inactivity, overdraft, declined transactions or receiving written transaction statements, among other mandates.

Visa Europe sees contactless payments top 1 billion in past year

Visa Europe says that uptake of contactless payments in Europe continues to climb with more than one billion transactions made in the last year. Visa cardholders spent €1.6 billion in March 2015 alone – a three-fold increase over the same period in 2014.

The new payments landscape: we need a new mind-set

Popmoney, Dwolla, Square Cash, Funding Circle, Venmo, Nutmeg, Transferwise, Stellar, Kabbage … this is not a list of the latest box office hits or some weird shopping list, but a handful of the emergent FinTech companies that are sprouting up everywhere like wild mushrooms. These companies are, to a certain extent, beginning to reshape and […]

Harmonisation of ISO 20022 is crucial – but who should be in charge?

It seems not a day goes by without seeing those three little letters and five numbers – ISO 20022 – appearing in headlines or articles. But hang on a minute, what’s all the commotion about? It’s just another message format that I need to make sure my systems can handle, right?

EBA Clearing sets out roadmap for pan-European instant payments

EBA Clearing has published a blueprint document spelling out high-level business requirements for the pan-European instant payment infrastructure it hopes to start piloting in 2017 following consultation with a task force composed of more than 20 representatives of EBA Clearing service users.

Europol Busts Cybercrime Ring, Enlists Barclays to Fight Attacks (June 30, 2015)

Cybercrime investigators from six European countries joined forces and recently busted a large gang of cybercriminals that had used malware in a widespread attack on online banking systems across the Eurozone, resulting in losses of at least €2 million (US$2.22 million), according to Europol, the EU’s law enforcement agency.

Payments infrastructures must support innovation says regulator

New payments options are springing up all over the place – except for the underlying infrastructure where current arrangement for access and governance may be a hinderance to innovation, according to the head of the UK’s Payment Systems Regulator.