RBS’ global transaction services business is exploring collaboration with a number of startup companies as a way of combining its own services with the innovation provided by smaller companies, through API agreements. The move comes as banks around the globe increasingly seek to bring products to market faster and reap the rewards of innovation.
Swift is planning to open two new offices in 2015 in Accra, Ghana and Nairobi, Kenya as the organisation seeks to expand its presence in east and west Africa.
Overall sales from the holiday sales season rose a healthy 4 percent, reaching their highest level since 2011, the National Retail Federation (NRF) announced this week.
PayPal this week announced a partnership with Microsoft to provide a new POS approach for small businesses to accept cards payments using the computer titan’s Surface Pro 3 tablet and certain Windows-based phones.
The Consumer Financial Protection Bureau (CFPB) is creating a guide to help colleges evaluate institutions that offer financial accounts to students—and the CFPB is seeking input in devising the document.
As in any complex document, there are some ambiguities in the FAQs and time will tell how those will play out. But, what’s clear is that for many banks, the FAQs raise the cost of doing business, which will (or should) precipitate a review of business models.
Diliger, a start-up offering research tools for buyers of capital markets services, is looking to raise £500,000 through crowdfunding using the Crowdcube site.
Retailers and payments executives who were hoping to get an answer from the Supreme Court this week on whether the court will hear NACS et al v. Board of Governors of the Federal Reserve System will be waiting a bit longer.
President Obama is throwing support behind new legislation to further protect consumers from data breaches, while backing another new bill that would prevent companies from misusing student data. At a Federal Trade Commission presentation Jan. 12, President Obama outlined the Personal Data Notification & Protection Act, which would require U.S. companies to notify customers within […]
PayPal this week rolled out a set of enriched features for PayPal Credit and introduced a new Business Consulting service to enhance retailers’ e-commerce operations.
MasterCard is joining with the Indian state of Gujarat to accelerate the adoption of electronic payments across multiple sectors, including commercial, government and transit.
The London Stock Exchange is to begin trading Turkish futures and options, following a deal with Borsa Istanbul. The agreement will help to open up the Turkish market to more investors; it will also help to deepen the LSE’s derivatives market, which it has been trying to build up in recent years.
We asked a number of prominent players in emerging payments to give us their opinions on what the shift in the 114th Congress might mean to payments.
1to1 Card, a leader and innovator in prepaid card management services, has announced that Daniel Grotto has joined the company as CFO and member of the company’s advisory board.
Card marketing and production service provider Arroweye Solutions has appointed Reiner Vanooteghem vice president of market development.
Merchant Warehouse, a provider of payment technologies and processing solutions, has changed its name to Cayan.
The CFPB has appointed Tony Alexis head of enforcement.
Emerging Payments Association (EPA) announced that David Hunter, CEO of London-based Ukash, has joined the association’s advisory board.
Green Dot Corp. has appointed Chief Technology Officer and Executive Vice President of Product Development, Kuan Archer, to chief operating officer.
MasterCard has named Michael Fiore as the new head of the payment network’s global prepaid strategies.
TMG Financial Services (TMGFS), a Des Moines, Iowa-based payments solutions provider, has announced several additions to the team.
TSYS announced that Thomas Boyer has been named president of TSYS Merchant Solutions, its direct acquiring business unit.
BT has formally today the availability of a personalised video capability as part of its Cloud Contact portfolio of services following pilot project with two UK retail banks. The system, which allows businesses to email individually tailored videos to millions of customers by integrating relevant data with video templates, was developed by Israeli marketing technology specialist Idomoo.
Prepaid provider UniRush LLC has made a move into the payroll vertical, striking a deal to acquire the rapid! PayCard business from WEX Inc.
Community banks, which continue to show interest in prepaid but may not have the resources to build their own programs, have a new quick way to enter the market, according to Cachet Financial Solutions.
Shortly after Softcard unveiled Tappy, a puppet starring in a campaign to educate consumers about Softcard and mobile payments, the NFC-based mobile payment initiative backed by AT&T Mobility, Verizon Wireless and T-Mobile has laid off approximately 60 employees.
Comments are due Feb. 9, 2015, for a multisite program the CFPB plans to launch early this year to provide one-on-one and group financial counseling to individuals with disabilities transitioning into the workplace or who already are employed.
London-based financial services professionals moving to new jobs in 2014 boosted their salaries by an average of 18% – and an increasing number of people did so, with year-on-year figures showing a 51% increase in people looking for new positions. But gloomy economic forecasts, combined with the seasonal drop in hiring over the Christmas period suggest that firms have postponed major hires to the current quarter.
Jan Verplancke is stepping down as chief information officer and group head of technology and operations at Standard Chartered, as is Richard Goulding, chief risk officer. The news of their departure comes as the banks announced further restructuring, including the closure of its institutional cash equities, equity research and equity capital markets businesses as part of a strategic plan to ditch “non-core or underperforming businesses”.
Switzerland’s SIX Payment Services has begun distributing the country’s first contactless debit cards, through a partnership with local bank Hypothekarbank Lenzburg, based in Aargau. The project, which began in December, replaces the bank’s entire portfolio of 22,000 debit cards with dual interface V PAY cards that enable contactless and regular transactions.
US exchange BATS Global Markets is calling for an 80% reduction in access fees to the US stock market’s most liquid securities, on grounds that nearly a billion dollars in fees could be slashed without adversely affecting the market. In an open letter to the industry, the exchange also rejected what it calls a “grand compromise” on exchange fees and called for greater transparency and the avoidance of anti-competitive rules.
Nearly 200 ATMs in the Chicago area are going cardless under a new initiative from Wintrust Financial and FIS.
Nine banks in Poland are preparing to launch mobile payments services via host card emulation (HCE) technology early this year, according to Visa Europe.
Seven startup financial services companies have been chosen by the FinTech Innovation Lab London, which returns to the city for its third year running. Candidates include a web-based program for real-time geopolitical risk assessment, tools that help small business owners manage their finances and faster data exchange and reconciliation technologies.
The U.S. Supreme Court has scheduled a conference this Friday to determine whether it will grant certiorari and move forward with oral arguments in NACS v. Board of Governors of the Federal Reserve System, which pertains to debit interchange fees and network routing requirements.
The FDIC has issued guidance to promote consistency by insured depository institutions in identifying, accepting and reporting brokered deposits. The guidance, which is in the form of “frequently asked questions,” addresses prepaid cards.
Payment processor i2c Inc., and Melbourne, Australia-based program manager Corporate Prepaid Solutions (CPS) have launched the Visa-branded uChoose corporate rewards gift card in Australia, setting the stage for global collaboration on additional corporate prepaid programs.
Several major British banks reportedly are in negotiations with Apple to bring the tech giant’s Apple Pay service to the U.K. before the midway point of this year.
Derivatives market participants are concerned about the impact of new margin requirements for non-cleared derivatives under Basel III, with a large number unsure whether they will even have to comply with the rules, according to new survey published today by the International Swaps and Derivatives Association.
The NBPCA and the Electronic Transactions Association (ETA), the global trade association representing the payments technology industry, submitted a joint letter today requesting a 60-day extension to the comment period for the CFPB’s NPRM on prepaid.
