Tanzania is taking steps to tighten up electronic payments against fraud, with the government working to establish best practices, regulations and supervision of efficient, effective payment, clearing and settlement systems, according to Finance Minister Saada Mkuya Salum.
Long-term investors are deeply concerned about their ability to find liquidity, with nearly 90% afraid that predatory high-frequency traders are preying on their flows, according to a new survey by block-trading network Liquidnet.
Santander has launched the UK’s first standalone ISA mobile app , which was designed and developed with mobile specialist company Monitise.
Türk Ekonomi Bankası is to launch a mobile contactless payment application using Visa Europe’s host card emulation functionality to provide secure contactless payments.
Standard Chartered has named Michael Gorriz as group chief information officer, replacing Jan Verplancke, whose departure was announced earlier this year. Gorriz is currently vice president and CIO at Daimler.
Square Inc. this week poured more heat into P2P with the debut of Square Cash for Business, an extension of its consumer-targeted Square Cash P2P product launched in 2013.
The CFPB received nearly 5,800 comments on its proposed prepaid regulations before yesterday’s deadline.
A quartet of congressmen has formed a group to explore and support emerging payment technologies.
Hotspot, the institutional foreign exchange market owned and operated by BATS Global Markets, is to expand its European presence with the launch of its first Europe-based FX matching engine later this year. The new matching engine will be located in the London Slough Campus data centres and will target Europe and Asia and specific FX currencies that dominate the European and Asian trading hours.
The Banking Industry Architecture Network has announced six new members including ACI Worldwide, Atos, EY and Zafin. Its global network now numbers 58 banks, service providers, software vendors and academic partners.
Adoption of innovative technology will be central to the fulfilment of bullish growth predictions of 25% or more for transaction banks in the Middle East, according to a survey of market participants during a recent conference in Dubai.
The NBPCA is calling on the CFPB to limit the scope of its proposed prepaid regulations to focus on primary transaction accounts and to, among other things, simplify disclosures rather than adding complexity for consumers.
Two of Europe’s biggest e-commerce brands are coming together. Optimal Payments today announced plans to acquire rival Skrill Group for €1.1 billion (US$1.2 billion).
Following a November 2014 request for information, the U.K. government plans to apply anti-money laundering regulation to digital currency exchanges, which it says will support innovation and deter crime.
The European Parliament’s Payment Accounts Directive creates a right to a basic bank account, which must be enshrined in national law across Europe by September 2016. But the rules represent a challenge to banks’ ability to manage their business – one that speaks to the heart of the current regulatory debate, according to delegates at the Payments International conference in London this week.
The UK should lead the development of an EU Capital Markets Union because of its better-established markets, according to a report from a House of Lords committee published today.
The Plato Partnership is a consortium of asset managers and broker-dealers working to build a non-profit trading utility in Europe. The group has just signed four more asset managers, including AXA Investment Managers, JP Morgan, Union Investment and Fidelity Worldwide.
Banks have been warned that new entrants will come and ‘eat their lunch’ if they fail to remain relevant to the modern consumer in the face of an ‘unstoppable revolution’. The point was made repeatedly during sessions at the Payments International conference in London this week.
Now that Facebook has made its move to launch P2P within its Messenger app, the question is how it may affect competitors—including financial services providers pushing P2P—and fit into the company’s long-term goals.
Building on the growth of electronic payments MasterCard has been experiencing in Brazil, the card network this week signed a 20-year deal with Itaú Unibanco, resulting in a new electronic payments network in the country, according to an announcement.
The CFPB is finalizing its consumer narrative policy and, 90 days after the policy is published in the Federal Register, consumers who have opted in will be able to make their complaints about financial products and services in the bureau’s Consumer Complaint Database public.
Following its February Pay World Best-in-Category win for its Paylution Prepaid Card, Vancouver, B.C.-based Hyperwallet yesterday unveiled a new brand identity and revamped product line of Mass Payments Solutions.
MasterCard Worldwide has appointed Betty DeVita as chief commercial officer of MasterCard Labs, the company’s global research and development arm focused on payments innovations.
Global online payment solutions provider Optimal Payments has appointed Shane Hibbeler as vice president of sales.
Ripple Labs, creators of the Ripple payment protocol, has named Anja Manuel, a former U.S. Department of State official, as an adviser to the company.
Grass Roots, a provider of employee and customer engagement solutions, has appointed Simon Mitchell to the role of global account director.
Wave Crest Group Limited, a global digital payments provider, has named John Racine as its executive chairman.
The CFPB on March 17 announced a request for public comments on how the credit card market is functioning and the impact of credit card protections on consumers and issuers. The inquiry, which is required by the CARD Act every two years, will focus on issues including credit card terms, the use of consumer disclosures, […]
Walmart’s Paybefore Award-winning Rapid Reload service now is enabling reloads for more than 100 prepaid card programs with the integration of the Visa ReadyLink reload network.
Gyft, a San Francisco-based mobile gift card company and subsidiary of First Data Corp., has announced plans to use bitcoin to enable gift card providers to issue more secure, consumer-friendly digital products, according to Gyft CEO Vinny Lingham, who spoke during the South by Southwest (SXSW) Conferences & Festivals this week in Austin, Texas.
Alibaba Founder Jack Ma this week wowed the audience at a computer technology conference in Germany with a live demonstration of “Smile to Pay,” a facial recognition technology the China-based e-commerce giant is developing for mobile shopping and payments.
Myanmar’s Yoma Bank is to install a new core banking system provided by vendor Misys, as part of a major transformation project at the privately-owned bank. Yoma especially wanted to be in a position to benefit from the growth of mobile technology in the country.
The Colorado congressman suggests having too many disclosures is a disservice to consumers.
Misys has launched a banking app prototype for the upcoming Apple Watch, which is due to launch in April, that allows users to make transactions by speaking at their watch.
The value of bitcoin at around $300 is a far cry from its 2013 peak of more than $1,000, but blockchain—the underlying technology that serves as a record of all bitcoin transactions—is garnering a lot of attention.
The Apple Watch is still more than five weeks away from rollout, but thousands of developers are scurrying to ready apps for April 24 when the device goes on sale.
The CFPB will be holding a field hearing concerning payday lending at noon EDT, Thurs., March 26, in Richmond, Va.
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Four out of five banks believe they will have to replace their core banking system in the next three to five years, with nearly 90% in favour of including SaaS or cloud based services as part of the infrastructure, according to a new survey of senior bank executives.
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