The five-year agreement combines Wirecard software and Verifone devices, with Indonesia as the first target market. The strategic alliance will see the Indonesian subsidiary of Wirecard, PT Prima Vista Solusi, collaborating with the local operations of Verifone. Steve Aliferis, president of Verifone Asia Pacific, says that the company is now establishing “a local team and […]
Markit, an international provider of financial information services, is buying Prism Valuation, a specialist in independent valuation and risk analysis of derivatives and structured products. Markit says this acquisition will complement its portfolio valuations service, as it will provide enhanced coverage of complex OTC derivatives and structured OTC products. It will also expand Markit’s customer […]
A host of major banks have adopted Ripple to improve their cross-border payments, the vendor says, and many have completed trial blockchain projects. The latest banks to join Ripple’s network are Santander, UniCredit, UBS, ReiseBank, CIBC, National Bank of Abu Dhabi (NBAD) and ATB Financial. Ripple says its network now includes 12 of the top […]
Commerzbank says it’s the first major bank in Germany to develop this type of digital financing marketplace. Main Funders is aimed at SMEs. Main Funders enables clients of Commerzbank’s Mittelstandsbank (MSB) business division (which caters for SMEs) to present concrete investment projects to potential investors and secure financing. The financing volumes are between €200,000 and […]
Card fulfillment and manufacturing specialist CPI Card Group has announced the appointment of Jason Bohrer as senior vice president of operations.
Global financial solutions provider GoSwiff International has appointed Sherlina Chew and Damien Kopp to leadership positions.
Cause Mobile Wallet, a mobile wallet that creates sustainable funding for charitable causes, has announced the appointment of Eric Choi as president.
Blackhawk Network has appointed Sachin Dhawan as senior vice president, chief technology officer.
Global payments processor and commerce solutions provider i2c Inc. has made personnel additions to its global client engagement team and its product marketing and management leadership.
For the second year in a row, Discover has been selected as a top company in Utah by the Best of State award program.
The National Merchants Association, a global merchant advocacy group and services provider, has appointed Butch Hildebrand to the role of director of sales.
Eugene Licker, a well-known litigator who focuses on consumer finance cases, securities litigation and enforcement, and white-collar defense, has joined Ballard Spahr LLP’s New York office as of counsel in the firm’s litigation department.
Payments and fintech investment firm FT Partners has hired Stephen Stout as managing director in the firm’s New York office.
Fintech collaboration platform Next Money is celebrating the launch of its Tampa Bay chapter with its first meet-up on Thursday, June 30, at 6 p.m. at the Tampa Bay WaVE Venture Center.
Jiffy – the instant mobile payments service developed by SIA – is coming to Italian stores. The person-to-business (P2B) project is piloted in Milan and Bergamo, allowing customers to pay via app at participating retail outlets authorised by UBI Banca. SIA says that “other major Italian banks have expressed interest in offering P2B the service […]
Toronto-based start-up, nanoPay, which acquired the assets of the digital currency business of the Royal Canadian Mint (RCM), MintChip, in early 2016, launches new digital cash. The first commercial application of MintChip is in Toronto’s Liberty Village neighbourhood, where consumers shopping or dining at participating merchants can use MintChip to pay for goods and services. […]
Virgin Money UK, a financial services brainchild of Richard Branson, is understood to be looking for new core and digital channels banking software. Virgin Money’s underlying technology in the UK stems from a number of acquisitions, including a small outsource firm, Intelligent Managed Services (IMS), in 2010, and a larger, well-established bank, Northern Rock, in 2012 (the […]
European Securities and Markets Authority (ESMA), a pan-European financial regulatory body, has finally approved CME Group’s application to offer central counterparty (CCP) services in the EU. The temporary approval was granted last autumn, but it is only now that ESMA has added CME to its list of recognised CCPs for Europe on a permanent basis. […]
BMCE Bank International, a UK-based subsidiary of Morocco’s BMCE Group, is live on a new regulatory reporting platform supplied by specialist vendor AxiomSL. The vendor says BMCE Bank International is using its solution to comply with its Bank of England (BOE) statistical reporting requirements (including FSA 047/048, ELS and balance sheet returns). The platform is […]
Simcorp is implementing its flagship investment management system, Simcorp Dimension, at Exane to support its middle and back office ops for listed and OTC derivatives. Paris-based Exane is an independent investment firm that focuses on asset management, derivatives and brokerage in cash equities. Exane has been running a number of disparate systems and decided to […]
The participants are BNP Paribas Securities Services, Caisse des Dépôts, Euroclear, Euronext, S2iEM, Société Générale and Paris Europlace. They have signed a memorandum of understanding (MoU) to study and develop a post-trade blockchain infrastructure for SMEs in Europe. The agreement is open to other interested parties. The aim is “to improve SME’s access to capital […]
Acquisitive banking software start-up Nymbus takes over yet another fellow vendor, Sharp BancSystems (SBS). SBS is a long-standing fintech provider in the US, having been set up in Texas back in 1987. This is Nymbus’ largest acquisition to date – earlier this year, the company bought R. C. Olmstead (RCO) and KMR. Alex Lopatine, founder and CEO […]
Americans are more reliant than ever on mobile devices to manage their finances, presenting a major opportunity for providers of emerging payments services like mobile wallets and P2P, according to a new study from Bank of America. The bank’s third annual Trends in Consumer Mobility Report collected and analyzed data from more than 1,300 U.S. adults over the age of 18 who have a bank account and own a smartphone.
Chase has expanded its P2P QuickPay service, so its customers can send and receive money in real time with one another as well as customers of Bank of America and U.S. Bank. Later this month, customers with smartphones can use the Chase mobile app to enroll in QuickPay and add payment recipients from their contact lists.
Hackers have apparently hit the online store operated by Taiwan-based computer maker Acer, potentially making off with customers’ card numbers, expiration dates and security codes.
Royal Bank of Scotland (RBS) will cut about 900 tech jobs in the UK, according to a Reuters report. At the end of last year, RBS’s domestic workforce stood at 64,000 people. Since March this year, the bank has cut at least 2,700 jobs in the UK, mainly across its branch network. The latest job […]
DB1 Ventures is Deutche Börse’s new dedicated corporate venture capital platform, set up as part of the group’s “Accelerate” growth strategy. The DB1 Ventures team will be primarily based in Frankfurt and will undertake new investments and also manage Deutsche Börse’s existing minority shareholdings. “DB1 Ventures will invest only in areas that are strategic to Deutsche […]
Welch State Bank, a small bank in Oklahoma with assets of $227 million, is implementing a range of Fiserv’s solutions. These include the Precision core processing platform; Source Capture Solutions for image capture; and Director for enterprise content management. The bank will also use Fiserv’s electronic fund transfer and card services. According to Fiserv, Welch […]
Two large-scale trends are coming to a head with merchants at the crux: the digitization of payments and increasing card-not-present fraud. Merchants need the right tools, including data analytics and fraud-prevention systems, to help them meet customer demand for a frictionless experience, while keeping fraudsters at bay.
Visa Inc and Visa Europe are united again. The combined company provides digital payment products, services and processing to about 17,100 financial institution clients and partners, 40+ million merchant outlets, and three billion Visa accounts worldwide. The company says its branded cards and payment products amount to approximately $6.8 trillion in global payments volume annually. […]
You weighed in on Women Driving Payments Change, Top 10 Payments Lawyers and the Smartest People in Payments. Now we want to know which chief technology officers deserve the title of Top Payments Tech Guru. Enter your picks by July 1. We’ll tally the top vote-getters and have final voting from the short list next month. The Top Payments Tech Gurus will be featured in our Spring issue of Pay Magazine.
Project Sentinel, a collaborative initiative by a group of banks to mutualise the cost of MiFID II implementation in the OTC front office, has announced the creation of a normalised regulatory data model that assists investment firms to meet their MiFID II OTC sales and trading requirements. Etrading Software, which has the project management office […]
Today, 20 June, sees the England-Slovakia game of the 2016 UEFA European Championship in France. In the spirit of that football tournament, PPRO has created an e-commerce guide to these two countries. Click here to see all the countries: Euro 2016
Symphony, a new instant messaging service, and Markit have partnered to promote the adoption of a Collaboration-Platform-as-a-Service (CPaaS), “to enable richer workflow and collaboration throughout the financial industry and other sectors”. As part of the agreement, Markit will develop hosted applications and data delivery services, which will be made available via the Symphony service. Brad […]
Oklahoma Governor Mary Fallin says state law enforcement will delay using devices that read the magnetic stripes on payment cards, following outcries from lawmakers and consumer groups about privacy and legal concerns. But mention of a supplemental proposed rulemaking suggests FinCEN may be looking to revisit card readers at the border.
As consumers pack up their cars or board their planes for summer getaways, prepaid cards will be just as important as sunblock or a comfortable pair of walking shoes. Many travelers plan to bring prepaid cards because of convenience, security and budgeting, according to an InComm consumer survey.
Nine fledgling fintech companies have won $250,000 each from the Center for Financial Services Innovation, or CFSI. At least week’s Emerge Conference in New Orleans, CFSI announced the FinLab winners from more than 300 applicants.
CPI Card Group has been targeted in a new class action lawsuit over claims the card manufacturing and fulfillment specialist failed to disclose important information to shareholders in the run-up to its IPO last year.
A savings and credit co-operative society (Sacco) in Kenya, Puan Sacco Society, has issued an RFP for new banking solutions. The Sacco is looking for core banking, SMS banking and mobile lending software, and a payroll management system. Provision of point-to-point connectivity services and office internet services, plus hardware maintenance are also included in the […]
US-based Silicon Valley Bank (SVB) and MasterCard are calling on US start-ups to apply for their Commerce.Innovated accelerator programme. The application process closes on 10th July, and the programme will run September to December. Commerce.Innovated is a four-month, bi-annual virtual accelerator, and this will be the fifth time it is held. Its organisers say it […]
