Survey: P2P an Opportunity for E-Payments Providers (Oct. 15, 2013)
While digital payments have become commonplace for paying bills and making purchases, person-to-person payments still have much unlocked potential for electronic payment providers, according to a new report from financial services technology provider Fiserv. In its 2013 “How Americans Pay Each Other” survey, the Brookfield, Wisc.-based company polled 2,533 Americans on how they made payments. […]
Kenyan Regulators’ Call for Interoperability Could End M-Pesa Dominance (Oct. 15, 2013)
Proposed new regulations from Kenya’s central bank could force leading telecom provider Safaricom to open its M-Pesa electronic money transfer service to other providers, possibly bringing an end to the company’s dominance of the Kenyan e-money market.
EE rolls out mobile voice recording for financial services firms
UK operator EE has launched mobile voice recording services to help UK organisations to fully comply with the FCA’s mobile trading regulations.
Citi builds out global eBAM service and cross-border payments
Citi has expanded its electronic bank account management service to 55 countries, in a move that the bank says will help corporate treasurers to better manage risk. The bank also expanded its cross-border WorldLink payment service into new emerging markets.
Google Wallet Revamps App, Welcoming iPhone; While NFC’s Momentum Sputters
Google Wallet’s latest makeover—a revised mobile app pushing merchant offers through more channels that’s available now for the first time to Apple Inc.’s iPhone users—means millions more consumers may give it a try.
BATS Chi-X Europe will bring down the cost of European ETFs says Mark Hemsley
BATS Chi-X Europe’s upcoming move into the European listings space will help bring a much-needed reduction in costs that could help to make the European ETFs market stronger, according to Mark Hemsley, chief executive at BATS Chi-X Europe.
Nasdaq signs algo testing deal with Thesys
Nasdaq OMX is planning to launch a test facility for algo trading early next year. The Algo Test Facility will be developed jointly with Thesys Technologies, a subsidiary of Tradeworx,
Pay Mobile: Money2020 Edition (Oct. 11, 2013)
This week in Las Vegas more than 4,500 attendees gathered for the second annual Money2020 conference. Companies across the payments value chain took the opportunity to showcase their latest partnerships, technology or programs with a deluge of announcements charting the future of money.
Tanzanian CRDB Bank adopts CR2 self-service banking tools in Burundi
Tanzania’s CRDB Bank has migrated its Burundi subsidiary to software provider CR2’s BankWorld platform, in a bid to bring self-service banking to customers across the East African country.
Financial institutions are “missing out” on big data says TeleWare
As financial regulation on mobile phone recording grows ever tighter in Europe, a significant proportion of financial institutions still haven’t put in place any technology to handle it. They could be missing out, according to Steve Haworth, chief executive at computer telephony specialist TeleWare.
Money2020: PayPal Cracks QR Codes (Oct. 10, 2013)
PayPal added another key piece to its POS strategy this week with the introduction of Payment Code, a QR code-based approach enabling consumers to pay by scanning the PayPal mobile app at checkout.
MasterCard to Acquire Turkish Processor Provus (Oct. 10, 2013)
Turkey’s large unbanked population, relatively industry-friendly regulatory environment and growing popularity of payment cards, including prepaid and contactless, has made it an attractive and expanding market.
Suze Orman Approves i2c for Prepaid Processing (Oct. 10. 2013)
Prepaid processor i2c Inc. has been chosen to provide processing services for The Approved Card from Suze Orman MasterCard. Redwood City, Calif.-based i2c will bolster the card with new features, including an integrated communications engine that responds in real-time to cardholders’ behavior with personalized messages to help them better manage their finances. “Of the platforms […]
Amazon Charts Course into Online Payments (Oct. 10, 2013)
Online retail titan Amazon is making a major foray into electronic payments, unveiling a new service that enables e-commerce merchants to let customers pay with the cards saved in their Amazon accounts. Dubbed Login and Pay with Amazon, the feature gives participating retailers access to Amazon’s 215 million active account holders, who can make purchases […]
U.K. to Create New Payments Regulator (Oct. 10, 2013)
The U.K. government has decided to create a new regulatory body for retail payment systems that will be charged with ensuring a level playing field in the noncash payments market by promoting modernization, innovation and meeting the needs of consumers—all of which might otherwise be stifled by a lack of competition, according to Her Majesty’s […]
London Stock Exchange prepares millimetre wave trading link
The London Stock Exchange is planning to roll out a new millimetre wave wireless communication link between its data centre in the City of London and the Equinix data centre in Slough, in a deal that will provide faster access and benefit HFT firms looking to arbitrage between multiple trading venues.
PayPal points to global reach
Don Kingsborough, vice president of retail and prepaid products at PayPal, had a clear message for Money2020 delegates in Las Vegas yesterday: “The future is actually now.”
Sapient rolls out FATCA compliance service
Sapient Global Markets has released a suite of software and services designed to help companies meet FATCA, the controversial new US regulation that obliges banks to report their US customers so that they can be taxed.
American Express aims to serve unbanked and underbanked
Amex, home of that object of envy, the Black Card, is expanding in an unexpected direction – to provide services to the unbanked and underbanked.
WorldPay’s world of payments shows huge diversity
Adoption of alternative payment mechanisms is growing more rapidly in developing economies as they leapfrog the legacy infrastructures deployed elsewhere.
US-Europe derivatives rulemaking deal “falls at first hurdle”
Senior financial industry executives have expressed disappointment at the failure of the US and European securities regulators to realise a deal over derivatives reforms and swap execution facilities, the new category of US execution venues brought in under the Dodd-Frank Act.
US consumers reject mobile wallets, survey says
The overwhelming majority of US consumers would not use a mobile wallet, according to a survey carried out by consultancy Consult Hyperion during September.
Deutsche Börse targets Asia through Bombay SE market data alliance
Market data from Germany’s Deutsche Börse and India’s Bombay Stock Exchange will be available under a single licence agreement, following a deal between the two exchanges.
Telefónica appoints MasterCard chief to head financial services team
Operator group Telefónica has appointed a financial services veteran to lead up its Digital Financial Services unit. Pilar Aurrecoechea has been in the financial services sector for 25 years and will join the operator group’s innovation arm, Telefónica Digital, reporting into Vivek Dev, CEO of Digital Services. Aurrecoechea joins Telefónica from MasterCard where she was general manager for Spain and Portugal.
Race for speed intensifies as HFT goes global
Trading firms need to upgrade their technology as often as every three months or face getting left behind by the ferocious pace of competition, according to specialists behind the HFT industry’s breakneck expansion into the world’s emerging markets and untamed asset classes.
Lack of EMV means US leads the world in card fraud
The US leads the world in card fraud, at least in part because it has lagged in the adoption of the EMV (Europay, MasterCard and Visa) Chip & PIN standard, and continues to use signatures for verification. One result, said Carolyn Balfany, group head for US product delivery at MasterCard Worldwide, during Money2020 in Las […]
Viewpoint: Payroll: Proof of Prepaid Power in Numbers
A group of like-minded companies came together this summer to address the recent melee in payroll cards. The work is far from over, but their activity points to the power of pooling resources and relationships for real progress and impact.
Bitcoin is the future, Money2020 delegates told
Bitcoin is here to stay and will continue to grow, according to experts speaking on separate panels at Money2020 in Las Vegas.
Money 2020: Innovation, Mobile-Centric Money Take Center Stage (Oct. 8, 2013)
Innovative and mobile-centric financial services are taking center stage this week at Money2020, which has drawn more than 4,500 attendees to Las Vegas.
Amex Relaunches Serve with Free Cash Reloads through InComm (Oct. 8, 2013)
American Express today announced a relaunch of its Serve prepaid account, packing the card with a raft of new features and benefits, including free cash-reload services at CVS and 7-Eleven stores nationwide, plus online bill payment and money management tools, for $1 a month.
Big Names among Group Aiming to Bolster Card-Linked Offers (Oct. 8, 2013)
Some of the heaviest hitters in e-commerce, banking and tech have joined together to enhance customers’ experience with card-linked offers. The newly formed CardLinx Association counts among its ranks a number of big names, including Bank of America Merrill Lynch, Discover, Facebook, First Data Corp., LivingSocial, MasterCard and Microsoft Corp. Announced this week at the […]
MasterCard Report Outlines Global Shift Away from Cash (Oct. 8, 2013)
Economies around the world are making the move away from cash, and the shift largely is being driven by new technologies, government initiative and consumer preference, according to a new report by MasterCard Advisors. Among the countries the report describes as the most “cashless” are: Belgium, where 93 percent of total consumer spending in 2011 […]
MasterCard and Visa Launch Prepaid Cards in Myanmar and Ghana (Oct. 8, 2013)
MasterCard and Visa separately have launched prepaid cards this week in Myanmar and Ghana, respectively. CB Bank is rolling out a prepaid travel card for citizens of the Southeast Asian country called the CB Bank EASI Travel Prepaid MasterCard card. The financial institution says the reloadable prepaid card is the first of its kind in […]
Markit masses support for open messaging service
Financial information services company Markit is aiming to create the largest financial markets messaging community and remove barriers to cross-market communication through its open messaging initiative and supporting technology, Markit Collaboration Services.
FIS sets sights on eastern Europe with new cloud banking platform
US banking and payments technology specialist FIS has launched a cloud-based real time core banking utility aimed at mid-tier banks in central and eastern Europe, which it says will help client to roll out new products faster and cheaper than ever before.
Cloud makes inroads into UK mid-tier as Leeds Building Society joins HP alliance
Leeds Building Society has joined the shared services alliance founded by HP Enterprise Services and the Yorkshire Building Society in September, in a deal that will see the society move its core application for mortgages and savings to the cloud. The deal also marks a growing recognition among the UK’s mid-tier institutions of the power of cloud to help them move with the times.
Trading arms race intensifies with new social media tool
A new tool designed to help banks and their clients gain a decisive trading advantage over their rivals based on Twitter posts has been launched by UK-based fin tech firm Eagle Alpha.
Money2020: MetaBank, TSYS Execs Say Third-Party Oversight, Compliance Key (Oct. 7, 2013)
The explosion of innovation in financial service products is driving a growing reliance on third parties to help process and distribute products that, in turn, is making third-party oversight a key priority integrated with daily operations, according to top prepaid card industry experts at preliminary sessions during Money2020 in Las Vegas on Oct. 6. Because […]
Card News: Bancorp to Issue TFG Payroll; InComm Partners with Jackson Hewitt on GPR Card (Oct. 7, 2013)
GPR and payroll cards—two of the fastest-growing segments in prepaid—continue to expand as a new GPR program and a new payroll card partnership were unveiled today. In separate announcements, InComm and tax preparer Jackson Hewitt said they’re working together on a new GPR program, while The Bancorp Inc. said it will issue payroll cards to TFG Card Solutions’ […]
Sprint’s NFC Answer to Isis (Oct. 7, 2013)
When Isis, backed by AT&T Mobility, T-Mobile and Verizon, was announced nearly three years ago, Sprint was notably missing from the group of top U.S. telcos involved in the mobile wallet project.