Apple Inc. will officially launch its NFC-based Apple Pay service on Monday, CEO Tim Cook said today during an event to unveil new devices at the company’s Cupertino, Calif., headquarters.
eBay Inc. subsidiary PayPal continued its growth streak during the third quarter, as the unit’s mobile payment volume surged 72 percent and 4.4 million new users came aboard during the period ended Sept. 30.
Prepaid was a bright spot for spending dollar volume growth in September at 5.7 percent compared with an overall drop in same-store spending growth, which came in at a 3.1 percent increase year-over-year compared to a 3.9 percent year-over-year jump in August.
Merchants continue reshaping their strategies to meet the demand for online shopping, and the latest to do so in a significant way is Walmart.
Italian payment processing specialist SIA has released a new P2P payments service that allows users to send and receive funds on their smartphone using their phone contacts. Called Jiffy, the app has been welcomed by Italian retail banks – but SIA’s ambitious plan calls for the service to be rolled out to 400 million European current account holders.
Bowen ‘Bo’ Ranney has joined Ballard Spahr’s Consumer Financial Services Group in New York City. He will help clients prepare for CFPB exams and assist them during the exam process or when they’re being investigated by the CFPB. Ranney previously was examiner-in-charge at the CFPB, where he worked in compliance and enforcement. He has been […]
Bank of America Merrill Lynch has been honored by EMEA Finance magazine in its 2014 Treasury Services Awards, winning the award for Best Treasury Services in Europe, recognizing the bank’s proactive and consultative client approach, product enhancements and focus on thought leadership.
First Data has announced a series of appointments to its senior leadership team.
Global law firm Paul Hastings LLP announced that Gerald Sachs has joined the firm’s global banking and payments systems practices in Washington, D.C., as of counsel.
Online payment voucher provider paysafecard has appointed Walter Tauchner vice president of partner management.
Mooresville, N.C.-based SightSpan Inc., which advises organizations on risk-management and AML programs, announced that Saskia Rietbroek has joined its advisory board.
Meta Financial Group has announced the purchase of AFS/IBEX Financial Services Inc. Under terms of the deal, Meta Financial’s bank subsidiary, MetaBank, will acquire the $80 million loan portfolio, related assets and workforce of Dallas-based AFS.
ATM operator Cardtronics has hit on a new way to keep its cash-dispensing machines relevant in the digital age: harness them for in-store marketing and promotions via customers’ smartphones.
P2P money transfer continues to gain momentum with a trio of new services announced this week in three countries, all of which use a different medium to facilitate transfer.
DOJ’s Operation Choke Point, which encourages financial institutions to scrutinize clients that process payments for certain types of businesses, continues to draw criticism from lawmakers and industry advocates, who argue that the policy is harmful to legitimate, legal businesses.
When Hamed Shahbazi graduated from the University of British Columbia in 1997, many people were still calling the Internet a “fad.” But the Vancouver native knew better.
Corporate treasurers are increasingly looking beyond traditional of finance to a wider range of alternative funding options that support their working capital requirements, including supply chain finance, trade receivable securitisation and factoring.
Apple Pay may go live as early as Saturday, and it’s likely to include an option for users to initiate a payment via voice command with Apple’s Siri feature, according to a number of reports.
Visa Europe today announced an exclusive partnership with edo Interactive to bring targeted card-linked offers to Visa debit and credit cardholders in Europe.
With B2B prepaid programs on the rise globally as corporations look to streamline and control expenses, Wave Crest Group Ltd. is rolling out a new B2B prepaid platform for European businesses.
Data breaches continue to hit some of the U.S.’s largest corporations, with a spate of financial institutions and retailers announcing incidents over the past two weeks.
Major credit and debit card providers in the U.K. are among the main “payment systems” the government is proposing to bring under the purview of the new Payment Systems Regulator (PSR), beginning next April.
The European Commission has introduced new rules designed to encourage investment and trigger liquidity – including the use of “high quality” securitisation. The move has been welcomed cautiously by experts, despite the controversial role of securitisation in the financial crisis.
CaixaBank, one of Spain’s largest banks, has moved into the wearable payment technology space with the launch of an NFC-enabled wristband capable of making contactless payments. Security vendor Gemalto has supplied its Optelio Contactless MiniTag, which links the wristband to the user’s existing payment card.
The CFPB is gathering information about the methods banks and credit unions use to screen consumers before approving or denying them a checking account.
League Service Corp. (LSC), a national credit union service organization, has tapped Cachet Financial Solutions to power its prepaid mobile application, which currently is offered by 900 credit unions.
ATM network operator Cardtronics Inc. has been named exclusive ATM services provider for natural grocery chain Fresh & Easy.
The introduction of T+2 settlement in 27 European markets this week could be having some interesting indirect effects on securities trading – including an increase in securities lending, and uncertainty over the status of OTC trades, according to senior financial market observers.
Banks and other financial institutions are finally spending more on growing new products in areas such as mobile and data analytics rather than maintaining legacy systems, according to a new report by Capgemini.
Financial market participants have criticised plans for the New York Stock Exchange to begin monitoring itself through its non-profit division, NYSE Regulation, describing the move as a “retrograde step” that will never work in practice. NYSE is currently monitored by FINRA, an independent organisation.
Facebook looks to be planning to add a money transfer function to its Messenger app—and the social media giant reportedly already has installed the underlying code to the popular messaging service.
Dunkin’ Donuts plans to launch a new service that enables customers to order ahead and prepay for menu items via their smartphones, then visit a store location to pick up their orders.
Chinese e-commerce giant Alibaba Group has moved further into financial services now that its affiliate Alipay, an online payments platform provider, received approval to establish a privately owned bank.
Carrier billing specialist Boku Inc. has acquired one of its largest competitors, Germany-based mopay.
More than 7,500 Walgreens and Duane Reade drugstores throughout the U.S. now offer Western Union domestic and international money transfers through touchscreen kiosks that are part of the Walgreens Balance Financial platform.
Banks and brokers in Europe are bracing themselves for ‘double witching day’ on Wednesday, in which two days’ worth of trades are expected to settle on a single day, as 25 European nations move to T+2 settlement for the first time.
A trio of major U.K. mobile network operators—including O2, EE and Vodafone—has partnered with carrier billing specialist Boku Inc. to enable mobile phone customers in the U.K. to charge the purchase of physical goods and services up to £30 (US$48) to their phone bills.
Mobile payment provider Square has landed $150 million in new venture capital in a funding round valuing the company at around $6 billion, and financial app developer Yodlee Inc. raised $75 million in its initial public offering last week.
New Jersey legislation (A3480) introduced last June, which would eliminate the need to collect consumer data when purchasing GPR prepaid cards, was advanced last week by the Assembly Consumer Affairs Committee and has been referred to the Assembly Appropriations Committee.
UK financial services firms are increasing their spending on IT but may still not be doing enough to fend off competition, according to the latest survey of the sector from the Confederation of British Industry and PwC.
