i2c to Provide Processing for New Japan Prepaid Card (Jan. 15, 2014)
Prepaid processor i2c Inc. will launch a new prepaid card in Japan in partnership with Shinsei Bank and CardFlex Japan, a subsidiary of Japanese electronics and media retailer Tay Two Corp.
Five U.K. Banks to Offer Zapp’s Mobile Payments Service (Jan. 15, 2014)
Zapp has partnered with five banks in the U.K. that have approximately 18 million customers combined to provide the financial institutions with its mobile payments service.
Derivatives reform chaos “stupid and self-inflicted”
Reforms to the way derivatives trade in the US and Europe are causing a conflict between consumer desire for bespoke solutions and regulatory attempts at standardisation – and the self-inflicted panic as the deadline approaches indicates the cost may be too high, according to a panel of senior capital markets representatives speaking at an event organised by the Futures and Options Association in London on Tuesday.
Alibaba Nixes Bitcoin; Canada to Demo Gov’t-Backed Digital Currency (Jan. 14, 2014)
Digital currency continued to receive a hot-and-cold reception around the world this week, with Chinese e-commerce provider Alibaba banning Bitcoin payments, just as the Royal Canadian Mint prepared to demo a digital currency of its own.
Better ATM Services Expands Reseller Network in California (Jan. 14, 2014)
Better ATM Services today announced a reseller agreement with Advanced Network Inc., in which ANI becomes a member of Better ATM Services’ reseller network.
An Inside Look at the CFPB (Jan. 14, 2014)
As the payments industry awaits new rules on GPR prepaid cards set to be issued by the Consumer Financial Protection Bureau in May, an in-depth piece in Sunday’s Washington Post offers a fascinating look at the inner workings of the agency—and valuable insights into the CFPB’s origins, culture and motivations.
Swiss Zürcher Kantonalbank targets trade speed with Corvil
Switzerland’s Zürcher Kantonalbank has installed a performance monitoring system from latency management specialist firm Corvil to monitor the performance of its market making and FX business, including market data quality, transaction analysis and FX order flow.
Swift targets EMIR compliance with trade reporting tools
Financial messaging cooperative Swift is looking to capitalise on the impending trade reporting deadline for EMIR, the European Commission’s new rulebook for derivatives, which comes into effect next month.
2013 Holiday Sales Tick Up in U.S. and Canada (Jan. 13, 2014)
The 2013 holiday shopping season generated brisk sales figures in the U.S. and Canada, according to newly released reports from both sides of the border.
Scope of Target Data Breach Widens; Neiman Marcus Also Hit (Jan. 13, 2014)
The scope of the data breach Target Corp. initially disclosed last month has expanded from 40 million credit and debit card customers to as many as 70 million more Target customers whose names, mailing addresses, phone numbers or emails may have been exposed, the retailer said on Jan. 10. The second set of data, which […]
RBC, Bell Wallet Now Live in Canada (Jan. 13, 2014)
Royal Bank of Canada and telecom provider Bell Canada have gone live with a mobile payment system that enables RBC customers to make purchases online and in stores using NFC-compatible smartphones over Bell’s mobile network.
FinTech Innovation Lab London announces 2014 line-up
Seven startup financial services companies have been chosen by the FinTech Innovation Lab London for its annual innovation-focused competition, which is designed to give support and recognition to promising new ideas in financial services.
People on the Move: Laurie Minarik, The Members Group
The Members Group, a Des Moines, Iowa-based card processing and payment solutions provider, announced that Laurie Minarik has been named senior director of client relations.
LSE reforms international order book as T+2 draws near
The London Stock Exchange has introduced a set of changes for its international order book, including a shift to T+2 settlement, a reduction in tick sizes and changed opening hours, ahead of upcoming EU regulations designed to harmonise settlement across Europe.
People on the Move: Mark Miller and Pete Sinisgalli, Billtrust
Billtrust, a Hamilton, N.J.-based provider of outsourced billing services, announced the addition of Mark Miller, chairman and CEO of consumer digital services company Allconnect, and Pete Sinisgalli, director of supply chain solutions provider Manhattan Associates, to its board of directors.
People on the Move: Kamran Zaki, Adyen
Adyen, an Amsterdam-based provider of international and multichannel payment solutions, has appointed Kamran Zaki president of Adyen North America.
MasterCard snaps up Turkish payments specialist Provus
MasterCard has acquired Turkish payments provider Provus in a deal that the firm says will increase its processing presence in a “high growth” payments market.
Breaking News – Sen. Warner Introduces Bill Targeting Prepaid Card Fee Disclosures (Jan. 10, 2014)
Expected by the payments industry for weeks, U.S. Sen. Mark R. Warner (D-Va.) yesterday introduced a bill calling for banks to “more fully disclose the hidden fees often charged for the use” of prepaid cards.
Generation Y leads UK towards mobile banking
Nearly two-thirds (64%) of UK current account holders would prefer to bank online or via a mobile app than via telephone or in-branch banking (29%), according to a recent survey by YouGov and business process specialist Genpact.
Pass Go, Do Not Go to Jail: EC backs down on SEPA deadline
The EC proposes that banks and payment services providers will not be penalised for continuing to process legacy payments during a six-month “transition period” after the February deadline for SEPA migration.
LSE launches first China A shares ETF in London
The London Stock Exchange has launched the first Chinese renminbi ETF listed in London, in a deal that will help open the Chinese A shares market up to international investors.
Breaking News – Chase to Exit Corporate, Public Prepaid (Jan. 9, 2014)
JPMorgan Chase & Co. is seeking to exit the corporate and public prepaid sectors.
Breaking News – U.K.’s O2 Wallet Shuts Down after 18 Months (Jan. 9, 2014)
O2 Wallet, which made a splash when it launched in April 2012 as the U.K.’s first mobile wallet, is shutting down after just 18 months.
PayPal in Asia Launches ‘mo.bi.pay’ Website Checkout Feature for SMBs (Jan. 9, 2014)
PayPal is making it easier for small and midsize businesses to add mobile payment capabilities to existing Websites with mo.bi.pay, a new service announced this week.
Sluggish Transition Leads to SEPA Deadline Extension (Jan. 9, 2014)
The European Commission today has announced a six-month grace period from the Feb. 1 migration deadline for electronic payments that don’t meet Single Euro Payments Area (SEPA) requirements.
Singapore Issues Bitcoin Tax Guidance (Jan. 9, 2014)
Another day, another government weighing in on the ongoing Bitcoin brouhaha.
Card Manufacturer TCT Lands £3.2 Million Infusion to Grow Operations (Jan. 9, 2014)
Thames Card Technology Ltd. (TCT) has landed a capital infusion of £3.2 million (US$5.3 million) to expand its operations.
Belgian bank offers real-time tools to mobile users
Belgium’s Record Bank has introduced a new mobile banking platform that it says will help customers better manage their money in real time. The features of the new mobile banking service include SEPA payment abilities and the ability for customers to check the status, transaction history and details of their own account. Established in 2001, […]
ABN Amro joins Eurex OTC Clear
Dutch bank ABN Amro has become a member of German derivatives exchange Eurex’s OTC Clear service, which clears interest rate swaps, as part of the bank’s compliance with EMIR.
HSBC targets online commerce with FX conversion for retailers
HSBC has rolled out a service that will allow online retailers to give customers the choice to pay in various international currencies.
No SEFs please, we’re bankers …
Most banks are still not ready for the arrival of Swap Execution Facilities, the new category of trading venues created by the Dodd-Frank act in the US to handle OTC derivatives. Worse still, market participants are almost universally negative about SEFs, according to a new paper by research house GreySpark Partners.
Aizawa Securities fuels expansion plans with Fidessa algos
Japan’s Aizawa Securities has chosen vendor Fidessa as its new proprietary and wholesale agency trading system, as the Japanese firm prepares to revamp its algo trading against the backdrop of last year’s Japan Exchange Group merger and the upcoming integration of the derivatives market in two months’ time.
Japanese mobile payments hold promise reports Celent
Japan’s evolving payments industry offers an opportunity for financial institutions and card issuers to capitalise on mobile technology and card schemes, according to a new report by analyst firm Celent.
Saudi Arabia’s NCB revamps tech platform Islamic finance
Islamic finance specialist firm NCB Capital Company has installed a Charles River front and middle office investment management platform, as part of a drive to improve internal efficiencies in its Saudi business.
Swift boosts collaboration push with Financial Crime Compliance unit
Swift has created a dedicated Financial Compliance Services unit to manage a growing number of service offerings. The new unit will focus initially on the development of a Know Your Customer Registry planned for launch later this year as well as the integration and development of existing services.
Senate Confirms Yellen as Next Fed Chief (Jan. 7, 2014)
The U.S. Senate on Monday confirmed Janet Yellen as chairman of the Federal Reserve, succeeding Ben Bernanke, whose term expires Jan. 31, after eight years in that post.
Report: Smartphone, Tablet Sales to Top $700 Billion in 2018 (Jan. 7, 2014)
Mobile payments via smartphones and tablets are set to surge over the next few years, reaching $707 billion worldwide in 2018, according to a new report by Juniper Research.
Industry Groups Release Latest SEPA Standardization Requirements (Jan. 7, 2014)
The European Payments Council (EPC), which represents the European banking industry in relation to payments, and the Cards Stakeholders Group (CSG), which represents retailers, vendors, processors, card schemes and the EPC, have published the latest version of the Single Euro Payments Area (SEPA) Cards Standardisation Volume.