News


U.S. Judge Rules Bitcoin Is Currency (Aug. 8, 2013)

Aug. 8, 2013 A federal judge ruled that Bitcoin, a decentralized virtual currency, is a form of money. U.S. Magistrate Judge Amos L. Mazzant’s decision this week is part of a charge levied by the U.S. Securities and Exchange Commission against Trendon Shavers for allegedly defrauding investors of approximately $150,000 worth of bitcoins in a […]

New PreCash Platform Aims to Fix ‘Broken’ Online Bill Pay Experience (Aug. 8, 2013)

Aug. 8, 2013 Payments processor PreCash has unveiled a new virtual payments platform the Houston company says will help fix the “broken” consumer online and mobile bill payment experience. Dubbed PreCash PayConnect, the new platform is built on PreCash’s cloud-based processing system and offers mobile and online payment for more than 10,000 service providers, including […]

Visa Europe hires Huss as new chief executive

Visa Europe has appointed Nicolas Huss as its new president and chief executive. Huss will join Visa Europe from investment management firm Apollo Group, where he is chief executive for credit card and customer servicing business Avant Spain and Ireland.

PayPal partners with MoneyGram for cash withdrawal

PayPal users can withdraw money from their accounts and pick up the funds via money transfer company MoneyGram, following a deal between the two US firms that also will see PayPal customers loading funds into their accounts via MoneyGram by the end of the year.

Orange sets out Botswana mobile payments deal with Visa

Telecoms firm Orange is planning to launch a set of mobile payment services in Botswana and other countries in Africa and the Middle East, which it says will easy access to funds around the clock and bring new point of sale, online and ATM transaction options to customers.

Western Union debuts Nigerian mobile money transfer

Western Union has launched a mobile money service in Nigeria, which it says will help boost financial inclusion and provide new methods of money transfer for people sending and receiving money to Africa.

Former UBS MTF chief Robert Barnes to join Turquoise

Robert Barnes, former chief executive of UBS MTF, is to take up a new role at Turquoise, the MTF owned by the London Stock Exchange. Barnes, who had been advising in a consultancy since he left UBS in February, will replace outgoing Turquoise chief Natan Tiefenbrun, who is understood to be leaving for his own reasons.

PayPal Enables Account Withdrawals via MoneyGram, Loads Coming Soon (Aug. 6, 2013)

Aug. 6, 2013 Online payments titan PayPal continues its march into the brick-and-mortar world, striking a deal that will enable its 55 million U.S. account holders to withdraw funds at MoneyGram locations across the country. Later this month, customers in Dallas, New York and San Francisco also will be able to load money into their […]

i2c Supports Prepaid Card Geared to Protect Seniors from Scams (Aug. 6, 2013)

 Aug. 6, 2013 Although many senior citizens use prepaid cards, such as those issued for Social Security benefits delivery or the AARP Card, there’s a new card on the market that’s using fraud mitigation tools to help protect seniors from financial scams.   i2c Inc., a Silicon Valley-based provider of cloud payment processing, today announced that […]

Norwegian Telecom, Bank Plan NFC-Based Wallet (Aug. 6, 2013)

Aug. 6, 2013 Norwegian telecom provider Telenor and DNB, the country’s largest bank, are teaming up to launch an NFC-based mobile wallet. Dubbed Valyou, the wallet is managed through a smartphone app that enables users to make purchases up to NOK200 (US$33.76) via contactless tap; for higher amounts, users must enter a PIN. After a […]

Study: M-Payments Gain Traction with SMBs (Aug. 6, 2013)

Aug. 6, 2013 A growing number of small and midsize businesses (SMBs) are using m-payments and social networks to improve efficiencies and increase customer traffic. Forty percent of businesses surveyed accept POS payments using a mobile card reader attached to a smartphone or tablet, and 16 percent of respondents plan to add this capability within […]

T+2: Moscow’s “biggest move in 20 years”

As the Moscow Exchange launches a new liquidity incentive promotion, Sergey Sinkevich, head of DMA at Russian broker Otkritie, argues that Russia’s move to adopt T+2 settlement is the most important development in the last 20 years for the country’s capital markets.

Judge Dismisses Lawsuit Challenging Dodd-Frank, CFPB (Aug. 5, 2013)

Aug. 5, 2013 A federal judge has dismissed a lawsuit challenging the constitutionality of portions of the Dodd-Frank Act, including the formation of the Consumer Financial Protection Bureau (CFPB) and the appointment of its director, Richard Cordray. U.S. District Judge Ellen Segal Huvelle last week determined that the claims in State National Bank of Big […]

Ukash Bolsters Retail Presence in Italy with Epipoli (Aug. 5, 2013)

Aug. 5, 2013 Online cash payment provider Ukash has struck a deal that will expand its retail network across Italy. The London-based company’s new partnership with prepaid distributor and producer Epipoli gives Ukash entry to the 145 locations of grocery retailer Esselunga in which Epipoli is already present, along with the firm’s other retail partners. […]

IDT Eyes Latin America, Beyond with New Remittance Service (Aug. 5, 2013)

Aug. 5, 2013 Telecom and payment services provider IDT Corp. has added a new international money transfer service to its Boss Revolution payment platform. The remittance service currently is live for recipients in Mexico, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua and Panama. IDT Payment Services—the IDT Corp. subsidiary that runs Boss Revolution—said within […]

Virtual Currency Firms to Establish Industry Group, Best Practices (Aug. 5, 2013)

Aug. 5, 2013 On the heels of Thailand’s central bank banning the use of Bitcoin, virtual currency companies, including virtual currency exchanges, have spelled out plans to establish a self-regulating industry group called the Digital Asset Transfer Authority. “Our companies are pioneering new services with potential to reduce the friction and cost of payments substantially […]

Ukraine’s Ukrsotsbank turns to Fiserv for cash management

Ukraine’s UniCredit ‘Ukrsotsbank’ has chosen US technology firm Fiserv to provide its Integrated Currency Manager tool, which the bank will use to improve its supply chain management and make better use of its available resources.