Major financial market infrastructures (FMIs) and central banks have thrown their weight behind a Swift initiative to prevent further fragmentation of the ISO 20022 messaging standard as its adoption grows by signing a charter backing principles to harmonise implementations.
Cyber attacks cost little to perpetrate, but plenty to prevent. A focus on external and internal factors will help financial institutions to mitigate the threat.
T2S, Europe’s harmonised settlement platform, is live. With a series of migration waves scheduled up until full live operation in July 2017, the next few years are likely to be characterised by intense activity as market participants finalise their strategies …
A prosperous, clean and safe place to visit, Singapore also offers a wide variety of culinary delights.
Click to launch the full edition in a new window Publishing Software from YUDU
Mobile transactions continue to increase their share of the market, accounting for up to half of online transactions, according to a new report by global payments technology company Adyen.
The recent surge of mobile payments services including Apple Pay, Android Pay and Samsung Pay is impressive, but what’s more significant is that payments-enabled mobile devices are on track to expand tenfold over the next five years, creating major challenges and opportunities for developers of consumer digital wallets, said Matt Barr, MasterCard’s group head, North America, emerging payments, speaking at this week’s NFC Solutions Summit in Phoenix.
There’s never a good time for a data breach, but yesterday it was reported that LoopPay, a subsidiary of Samsung Electronics Co., suffered an attack on its network.
The yeas have it. The European Parliament today has passed the second major payments regulation in 2015, with 578 votes in favor of the Revised Payment Services Directive (PSD2).
Steve Harvey will be promoting all products issued by Green Dot Bank as part of a multiyear marketing partnership, Green Dot announced today.
Two McDonald’s franchise owners have appealed a judge’s refusal to dismiss a class-action lawsuit alleging they illegally mandated employees be paid via prepaid cards.
The Payments Market Practice Group has endorsed the use of Swift messages for intraday liquidity reporting. The Swift message set for intraday liquidity reporting underpins a rulebook created by the Liquidity Implementation Task Force, an industry group of twenty five large clearing banks, custodian banks and global brokers, to support compliance with Basel Committee on Banking Supervision requirements.
The convergence of mobile payments and commerce will be the payoff for merchants investing in m-payments technology, but the payments industry has a lot of work ahead to help marry payments with the shopping experience to enrich consumers’ experiences, Phil Kumnick, senior vice president of global acquirer processing for Visa Inc., told attendees today at the NFC Solutions Summit in Phoenix.
Prior to today’s field hearing in Denver, the CFPB has announced it’s considering proposing rules that would restrict consumer financial companies from using certain types of arbitration clauses that block consumers from forming class action lawsuits to obtain compensation.
Europe’s top court has struck down a longstanding agreement that enabled U.S. companies to handle the personal data of users in the European Union without being subjected to EU privacy rules, in a decision that will significantly affect not only tech giants like Google and Facebook, but payments and financial services companies, as well.
The controversial prospect of new regulations for arbitration agreements will be front and center during a CFPB field hearing on the matter tomorrow morning in Denver.
Mobile payments’ drive into the fuel station sector continues, with Visa Inc. announcing a new NFC pilot at more than 20 Chevron stations around San Francisco and Silicon Valley.
The rise of mobile and contactless payments technology caused non-cash payment volumes to soar last year, surpassing the growth rate of GDP in all worldwide regions, according to a new report from Capgemini and the Royal Bank of Scotland.
EBA Clearing, a bank-owned provider of European payment infrastructure solutions, this week announced an RFP to build the framework for a pan-European service that could support real-time payments within the next two years.
Mobile payments development has exploded with the arrival of Apple Pay, Android Pay and Samsung Pay, but it will take “organic demand” from consumers to drive broad adoption of mobile wallets, according to payments experts speaking at PayThink last week in Las Vegas.
Employers need to “step up their gifting game” with the holiday season approaching, according to the latest research from Gyft. The First Data company released the findings to coincide with its launch of a B2B bulk gift card purchasing program, enabling businesses to conveniently reward their employees with gift cards from more than 200 retailers.
Emerging payments and fintech continue to draw investment dollars. Dutch payments processor Adyen has landed financing from a fund comprised of some of the biggest names in Silicon Valley, while alternative financing startup SoFi pulled in $1 billion in what the company is calling the biggest fintech investment to date. Meanwhile, mobile money transfer kept up its hot streak as Sequoia Capital got in on the ground floor of an India-based P2P app.
South Africa’s Nedbank has chosen Volante Technologies to help it revamp its payments message service using VolPay Foundation, which focuses on validating and processing payments. The move comes ahead of regulatory change next year, which will force all South African institutions to change the way they handle payments.
Three challenger banks have committed to take advantage of a new way to guarantee settlement between banks of payments made through Faster Payments, the UK’s 24/7 real-time payments service, when it becomes available next year.
Although it may not be as large as analysts initially predicted, First Data Corp.’s IPO could be the largest public offering of 2015.
I recently received my EMV debit card from a top 5 U.S. issuer.Tell us about your experiences with EMV at the POS.
Rep. Scott Tipton (R-Colo.) and more than 40 other lawmakers are urging CFPB Director Richard Cordray to be cautious in prepaid rulemaking and to make sure the government Direct Express program is not adversely affected by the forthcoming rule.
You’d think an A-list celebrity had shown up when Apple Pay launched in the U.K. in July. Despite some speed bumps related to transit and international acceptance, prepaid providers shouldn’t ignore the mobile wallet.
Fundamental shifts in the way socially connected and digital-savvy consumers connect have altered the customer-engagement and marketing landscape forever. To succeed, retailers and consumer brands must use data-driven engagement strategies.
The time has come for financial institutions to truly reap the benefits mobile connectivity offers, and the place to begin is with customer onboarding.
Despite Apple Pay’s high-profile U.S. launch, recent First Annapolis primary consumer research suggests that only one in five iPhone 6 users has actually made a purchase with Apple Pay. But, that’s not the only stat that matters.
Payments processor First Data has appointed Himanshu Patel chief financial officer.
The CFPB has appointed new consumer finance experts from outside the federal government to the Consumer Advisory Board, Community Bank Advisory Council and Credit Union Advisory Council.
Digital payments security provider Gemalto has won the Juniper Research 2015 Award for Digital Payments for its Allynis Trusted Services Hub.
Kerv, a London-based fintech startup, has announced that David Hunter has been appointed chairman of its board of directors.
NXT-ID Inc., a biometrics authentication company focused on mobile commerce, announced that William Fields has joined its advisory board.
Payveris LLC, a digital payments company serving banks and credit unions across the U.S., has hired Ted Chaney as senior vice president, strategic alliances.
Brian Brunner has joined the board of directors of PeoplesBank, Codorus Valley Company.
