Banks back Swift KYC Registry initiative
A group of major international banks have agreed to jointly develop and use the centralised Know Your Customer Registry announced by Swift at the start of the year.
PayTech
Paybefore Recognizes Consumer Champions at APEX; Amex Serve Takes Crown (March 3, 2014)
Paybefore held a special 2014 Paybefore Awards presentation on the kickoff day of All Payments Expo (APEX) in Las Vegas today, honoring three winners in the new Consumer Champion category.
CFSI Issues Compass Guide for Small-Dollar Credit (March 3, 2014)
Millions of Americans use small-dollar credit products each year to deal with unexpected expenses, smooth income fluctuations or build credit history.
Pew Unveils GPR Model Disclosure Box to Promote Comparison Shopping (March 3, 2014)
JPMorgan Chase & Co. last week announced plans to adopt Pew’s GPR model disclosure box for its Chase Liquid GPR card, sold only at its bank branches.
InComm Lands New Partnerships in Asia, U.S. (March 3, 2014)
InComm has partnered with a major Asian online payment service provider to launch a POS-activated gift card mall platform in Southeast Asia.
Ex-HSBC CIO takes chairman role at CLS as Hartsink steps down
Ken Harvey, the erstwhile HSBC group chief technology and services officer and group chief information officer, is to become chairman of CLS Group Holdings and CLS Bank International, succeeding Gerard Hartsink who will retire in October.
People on the Move: Tom Britz, Aurora Financial Systems Inc.
Purchase, N.Y.-based Aurora Financial Systems Inc. announced that Tom Britz has joined the firm as senior vice president and general manager of the new corporate services division.
People on the Move: Jeffrey Shanahan, CardConnect
CardConnect, a Philadelphia-based payments technology company, announced that Jeffrey Shanahan, who has served as president of the company since 2008, has been appointed CEO.
People on the Move: Amru Kotb, Cryptomathic
Cryptomathic, an e-security solutions provider with offices in Europe and North America, has appointed Amru Kotb senior vice president.
People on the Move: David Anderson, Enacomm Inc.
Enacomm Inc., a Tulsa, Okla.-based provider of voice processing infrastructure, has hired David Anderson, who will serve as vice president and chief marketing officer.
People on the Move: Andrew Patterson, Mercury Payment Systems LLC
Mercury Payment Systems LLC, Mercury Payment Systems, a Durango, Colo.-based payment processor, has appointed Andrew Patterson chief technology officer.
People on the Move: Scott Sandlin, Mozido LLC
Mozido LLC, a startup that focuses on cloud-based, white-label mobile payments services for banks and merchants, has named Scott Sandlin president and a member of the board of directors.
People on the Move: Michael Mueller and Udo Mueller, paysafecard group
Michael Mueller, co-founder and, for the last nine years, CEO of paysafecard group, has decided to leave the company board. Udo Mueller assumes the role of CEO.
People on the Move: Carl J. Williams, Planet Payment Inc.
Planet Payment Inc., a Long Beach, N.Y.-based payments processor, has appointed Carl J. Williams CEO.
Getin goes for biometric signature verification in virtual branch roll-out
Poland’s Getin Bank has implemented biometric signature verification in a roll-out of unstaffed remote branches using Virtual Teller Machines under its Getin Point brand. The technology allows customers to carry out banking tasks that require a signature without having to go to a traditional branch.
Paybefore Exclusive: Visa’s New Weapon for Fighting Prepaid Fraud (Feb. 27, 2014)
The fight against fraudsters who attack prepaid cards is getting some major network muscle. Visa Inc. announced it has completed technical development on the first industry-wide prepaid database to detect and prevent fraud schemes that target prepaid cards.
Swift speeds client onboarding with standards testing service
Swift has announced the availability of a cloud-based application designed to eases the client onboarding process between financial institutions and their clients. First outlined at the Sibos 2012 event in Osaka, the MyStandards Readiness Portal, is backed by some big names in the business – HSBC, Citi and Clearstream spoke at a Standards Forum session […]
New Smartphone Offers PayPal Payments with the Swipe of a Finger (Feb. 25, 2014)
Owners of the new Samsung Galaxy S5 smartphone soon will be able to make in-store payments via their PayPal accounts by just lifting—or rather, swiping—a finger.
Fiserv: Rising ACH and Wire-Transfer Fraud Demands Broader Defenses (Feb. 25, 2014)
Fraud associated with ACH transactions and wire transfers is on the rise, creating fresh challenges for financial institutions already grappling with higher risks from data breaches, malware and account hijacking, according to Fiserv.
BBVA Keeps It Simple; Ezetap, mCASH Rake in Funding (Feb. 25, 2014)
Spanish financial services group BBVA has announced it is acquiring Paybefore Award-winning Simple, the Portland-Ore.-based digital banking company founded in 2009, for $117 million.
Prepaid Cards Play Key Role in New Contactless Transit-Payment Systems
When upgraded public transit fare-payment systems went live recently in Chicago and Salt Lake City, contactless payment transactions soared into the millions.
MasterCard Acquires M-Payments Partner C-SAM, Launches In-App Payments (Feb. 24, 2014)
MasterCard has entered into an agreement to acquire Chicago-based mobile payment technology provider C-SAM.
Nevada Gaming Commission OKs Prepaid for Slot Machines (Feb. 24, 2014)
The Nevada Gaming Commission has approved the use of prepaid cards for wagering on slot machines in the state.
Amazon Coins Expand to All Android Devices (Feb. 24, 2014)
Amazon has announced that customers in the U.S., U.K. and Germany now can use the e-retail giant’s Amazon Coins in-app currency on all Android-based smartphones and tablets.
Millicom debuts Rwanda and Tanzania mobile currency conversion
Luxembourg telecoms company Millicom has launched an African cross-border mobile payments service in Rwanda and Tanzania, which it claims is the first to automatically include currency conversion.
Raincoats, taxis and the future of banking
What do taxis, the weather, mobile wallets and raincoats have in common? They are all potential variables in determining a person’s daily spend – and they provide a great opportunity for banks to use data to save customers money, according to Aman Narain, global head of digital banking Singapore at Standard Chartered.
Google Nabs Audio Authentication Startup (Feb. 20, 2014)
Google has acquired Israeli startup SlickLogin, which has developed technology that uses high-frequency sound waves to authenticate user identity when logging into Websites.
NBPCA Teams with Consumer Action for Payroll Guides to Educate, Ensure Compliance (Feb. 20, 2014)
With a growing number of U.S. employers offering their employees the option of payroll cards, the Network Branded Prepaid Card Association (NBPCA) has joined with consumer advocacy group Consumer Action to develop a pair of guides to help companies and employees learn about payroll cards, including how they work, options for accessing wages and how to avoid or limit fees.
European Parliament Committee Endorses Proposed Payments Rules; Plenary Vote Set for April (Feb. 21, 2014)
The European Parliament’s ECON Committee today voted to endorse proposed amendments to the European Union’s “Payments Package” legislation, which includes the revised Payment Services Directive (PSD2) and the regulation on interchange fees for card-based payment transactions (MIF Regulation).
Blog: Tackling Financial Literacy Is a Team Effort
Wherever you sit in the industry, you can help the end users of prepaid products (or future users) by supporting basic financial education. The key is to make it fun.
Blog: From Atoms to Bits: The Digital Age of Money
As we move to digitize everything, the transition to digital wallets hasn’t been an easy feat. O2 recently announced it would discontinue its mobile wallet and despite efforts by industry heavyweights, mass adoption of a digital/mobile wallet still is proving elusive.
Visa and MasterCard Green-Light HCE, Giving Banks and Merchants New NFC Options (Feb. 19, 2014)
Visa and MasterCard today announced plans to support Host Card Emulation, which enables storage of card credentials in the cloud, rather than using the secure element embedded in handsets, a move observers say could reignite prospects for NFC.
Orange Cash Expands to Spain (Feb. 19, 2014)
Mobile network operator Orange is launching its Paybefore Award-winning Orange Cash prepaid MasterCard in Spain.
Executive Profile: One on One with Mark Putman, First Data
As a startup veteran with five companies under his belt, Mark Putman never foresaw his future as an executive for a large company. Today, he oversees the prepaid business at First Data Corp., one of the world’s largest payments processors, as senior vice president of prepaid solutions.
MyBank Mandate SEPA direct debit scheme gears up for launch
EBA Clearing, the European payment services provider owned by 62 European banks, has reported that its MyBank Mandate pilot scheme, which allows online merchants, public institutions and utility companies in Europe to collect SEPA direct debits online, has passed the first and second phases of testing before it launches later this year.
Innovators’ Spotlight: Planet Payment
A global multicurrency processor is breaking down borders to make global shopping a local experience.
Earthport launches payments route to Mexico and Colombia
Cross-border payments company Earthport has launched two new routes into Mexico and Colombia, as part of a drive to open up Latin America for faster, more efficient and transparent payments.
U.S. Bancorp, Monitise Unveil Digital Watermark-Based Mobile Shopping Platform (Feb. 18, 2014)
U.S. Bancorp and U.K.-based Monitise plc have partnered to launch a white-label mobile commerce platform dubbed Peri.
Congressional Agency Calls for Clearer Campus Card Guidelines (Feb. 18, 2014)
The Government Accountability Office is the latest government agency to scrutinize the increasingly popular campus-based debit and prepaid cards.
RBI Report Outlines Technology for Banks, Telcos to Develop Mobile Banking (Feb. 18, 2014)
The Reserve Bank of India continues to encourage development of mobile banking across its nation, where 870 million consumers have a mobile handset but fewer than half of those have bank accounts.
