Worldwide


Algorithms create new highs (and lows) at Barclays

As we’re broadly in agreement with the view of a character in Carla Lane’s 1970s sit-com The Liver Birds that opera is “just Italians arguing to music”, we’d best pass on this news with as little critical comment as possible. Following the success of oddball opera subjects – Nixon in China, Jerry Springer: The Opera […]

“Lobby wars” will hurt buy-side interests in Brussels says SunGard exec

As the European Commission prepares new rules that will reform Europe’s capital markets, buy-side market participants must be careful to ensure that they are not misunderstood and even side-lined by politicians in Brussels, warns David Morgan, director for trading and client connectivity, capital markets at financial technology provider SunGard.

Chinese NFC Takes another Step Forward with ZTE, China UnionPay Pact (Jan. 7, 2013)

Jan. 7, 2013 Telecom network and equipment provider ZTE Corp. has been selected by Shanghai-based card network China UnionPay (CUP) to provide mobile payment services to CUP cardholders. As part of the deal, ZTE—the world’s fifth-largest maker of telecom equipment—plans to develop an NFC-based mobile phone. The firms also said they would explore the development […]

Report: Despite Smartphone Penetration, Mobile Banking Lags (Jan. 7, 2013)

Jan. 7, 2013 Financial institutions and mobile wallet vendors will encourage consumers to use mobile payments over the next few years through hybrid solutions intended to bridge the gap between the physical, online and mobile channels, according to a recent report by Javelin Strategy & Research that outlines financial services trends in 2013, as well […]

Heartland Nabs Payroll Firm (Jan. 7, 2013)

Jan. 7, 2013 Payment processor Heartland Payment Systems has acquired Ovation Payroll, a Rochester, N.Y.-based payroll services firm. In addition to bolstering Heartland’s payroll business, the acquisition brings Ovation’s affinity partner network under Heartland’s umbrella, providing Heartland with “high quality sales leads that can be leveraged throughout the Heartland sales force,” the company said. With […]

Gift Card Weekend Site Draws 1 Million-Plus Consumer Visitors (Jan. 7, 2013)

Jan. 7, 2013 Publicity and news stories touting Gift Card Weekend on Jan. 4-6 drove more than 1 million unique visitors to its Website, suggesting a dramatic uptick in consumer interest in the second annual event, according to Kansas City, Mo.-based Gift Card Impressions, which created the concept. The event’s success has prompted Gift Card […]

Starbucks Sells Square Card Readers to Boost Small Business (Jan. 4, 2013)

Jan. 4, 2013 Customers now can purchase a Square mobile payment card reader along with their venti Caffè lattes and blueberry scones at all of Starbucks’ 7,000 company-operated stores in the United States. Square enables anyone with an iPhone, iPad or Android device to accept credit and debit cards with its card reader that plugs […]

Tagit, Smartlink Offer Smartphone-Based Banking in Vietnam (Jan. 4, 2013)

Jan. 4, 2013 In a bid to capitalize on the rapid growth of smartphone use in Vietnam, Singapore-based mobile banking provider Tagit is partnering with mobile switch operator Smartlink to launch a new platform that will enable Vietnamese banks to launch cost-effective smartphone-based financial services, the companies said. By partnering with Smartlink, Tagit gains access […]

mPowa Eyes Global Expansion (Jan. 4, 2013)

Jan. 4, 2013 Mobile payment provider mPowa is starting the new year in expansion mode, as the U.K.-based company unveils plans to enter new markets, including new cities in the U.S. and India. mPowa, which offers merchants a card reader that plugs into a mobile device for payment card acceptance, is competing with Square—the market […]

NYC Startup Banks on Virtual ‘Kurrenci’ (Jan. 4, 2013)

Jan. 4, 2013 New York City-based startup Kurrenci has developed a virtual currency it says will help online retailers earn and retain customers by using a unique discounting method. Kurrenci’s platform is based on the company’s eponymous virtual currency, which can be purchased or earned online by users, and then exchanged for goods at participating online […]

Celoxica debuts HFT futures trading tools

UK technology company Celoxica has launched a new futures trading platform, which it says will make automated trading strategies even faster and more efficient.

Unbundling tops banking reform recommendations

Global investment banks need to stop focusing on easy opportunities and start innovating, according to a new report by US business consultancy AlixPartners – even if that means unbundling services and embracing smaller financial institutions as allies.

Justin Bieber to Promote New BillMyParents Prepaid Card (Jan. 2, 2013)

Jan. 2, 2013 Bieber Fever is spreading beyond music and fragrances to prepaid cards. Pop star Justin Bieber soon will be promoting a MasterCard-branded prepaid card offered by BillMyParents Inc. The San Diego-based provider of payment solutions targeted to teens, young adults and their parents, announced late last year that Bieber will act as “brand […]

FIs Continue Daily Deals Push as Chase Nabs Startup for $35 Million (Jan. 2, 2013)

Jan. 2, 2013 JP Morgan Chase & Co. will pay $35 million to acquire San Francisco-based daily deals startup Bloomspot Inc. in a bid to bolster the local merchant discounts the bank can offer its Chase credit card customers. Bloomspot, which competes with daily Web deals titan Groupon Inc. as well as other city-specific deals […]

The Hottest Payments Topics of 2012 (January 2013)

January 2013   By Bill Grabarek, Senior Editor If anyone thought last year couldn’t compare with the events of 2011, they quickly were proved wrong as 2012 turned out to be every bit as transformational. In the U.S. market, we saw a fledgling federal watchdog agency, the Consumer Financial Protection Bureau (CFPB), go from crawling […]

MasterCard signs 10 PSPs for PayPass Online

Ten UK payment service providers have committed to MasterCard’s PayPass Online by MasterCard, part of PayPass Wallet Services, allowing them to accept electronic payments across multiple channels.

Man Group goes live with Swift’s global ETC messaging service

Alternative investment management firm Man Group has gone live with Swift’s Global Electronic Trade Confirmation messaging service, and successfully confirmed its first trades with Morgan Stanley using the Cor Financial Salerio post-trade management service.

Payza Launches New Remittance Service in Bangladesh (Dec. 20, 2012)

Dec. 20, 2012 A new money transfer service from online payment platform Payza will enable Bangladeshis living in the U.S. to quickly and easily send money to relatives and friends back home. With its new SimplySendBD service, Payza aims to capture a piece of the $14 billion annual Bangladeshi remittance market—and establish a successful template […]

BMO Seals Deal with Monitise to Enhance Mobile Banking, Payments Services (Dec. 20, 2012)

December 20, 2012 Canada’s mobile payments offerings continue to multiply. BMO Bank of Montreal is poised to boost its mobile banking and payments offerings through a strategic alliance with London-based Monitise plc to develop a range of new smartphone applications, mobile Web offerings and text-notification services for online and mobile banking. The deal builds on […]

SumUp Mobile POS Device Available in 10 European Markets (Dec. 20, 2012)

Dec. 20, 2012 In a highly competitive European market, SumUp, a London-based provider of mobile POS card readers, has expanded its reach to 10 markets with recent product launches in Belgium, France and Portugal. SumUp enables merchants to accept debit and credit card payments using their smartphones and tablets as a POS device. SumUp is capable […]

NY opening for Consult Hyperion

Electronic transaction specialist Consult Hyperion has opened a New York office. Lanny Byers and Howard Hall will serve as co-managing directors, reporting to chief executive Neil McEvoy.

Investment in innovation is still key

Despite conflicting priorities and the sluggish economic climate, 2012 saw banks increase their investment in innovation. In fact, a survey conducted in the latter half of the year showed that 76% of banks have increased their investment in innovation from the previous year, writes Mohit Joshi of Infosys. The global study of 300 bankers also […]

Letter from the Editor: Happy Holidays from Paybefore (December 2012)

December 2012   It’s been an exciting year for prepaid and emerging payments. We’ve seen intriguing, unexpected partnerships (Starbucks and Square, PayPal and Discover), a steady stream of new mobile entrants attracting investors and, in the past few months, prepaid card launches in the Middle East, Russia and Africa. We expect 2013 to bring even […]

Brokers face grim prospects for 2013

Brokers are being forced to consider novel approaches to doing business – including outsourcing of areas that have been previously seen as core – as they struggle to work out viable economic models for their products and services.

Russian Bank Looks to Grow via Prepaid Cards (Dec. 18, 2012)

Dec. 18, 2012 In a bid to serve a growing market demand and increase its customer base, Russia’s Svyaznoy Bank will issue its first large-scale prepaid card, the bank announced this week. The card will be available in versions branded by MasterCard and Visa, with Gemalto providing deployment and other card services. Svyaznoy already is […]

VeriFone Inks NFC, Mobile Marketing Deal in China (Dec. 18, 2012)

Dec. 18, 2012 On the heels of announcing it would cease marketing its mobile POS system directly to merchants, electronic payments service provider VeriFone Systems Inc. has signed a deal to provide NFC payments and mobile marketing in the city of Shen Yang, China. Under the new partnership with China Mobile and Bank of China, […]

FDIC Report: Mobile Payments Could Threaten Banks’ Security, Market Share (Dec. 18, 2012)

Dec. 18, 2012 Mobile payments could present serious security and competitive threats to financial institutions and other established payments industry players, according to a new FDIC report. In the latest edition of its semi-annual publication “Supervisory Insights,” a team of senior FDIC researchers explained that if consumers adopt mobile payments widely, nonbank players with little […]

The ART of risk management

Since the 2007 global financial crisis there has been a lot of debate on potential changes across the banking services industry and the potential consequences. Recent market surveys suggest that surprisingly little progress has been made in risk and compliance management and some lack of clarity as to what to do next. Reacting to regulatory change is one thing, but the real goal is to build clarity and confidence that banks are doing the right thing in the right way at the right time