The financial services sector may be heavily regulated, but it is poorly standardised. A British Standards Institute-led initiative to drive more adoption of voluntary standards could reap considerable benefits for the industry.
The rising cost of KYC at global banks is threatening to disconnect smaller regional banks and even entire countries, according to Joachim von Hänisch, head of Swiss start-up company KYC Exchange, which plans to launch next Wednesday.
Following the tumultuous change that came in the wake of the subprime crisis, capital markets firms have yet to regain a strong foothold but 2014 is showing increasing evidence of a shift to a higher gear.
PayPal is vowing to make it simpler for consumers to use its brand.
MasterCard has finalized a licensing deal with pan-African banking group Ecobank under which the bank’s customers will have access to MasterCard’s payment solutions.
Bank of America may close up to 150 branches by the end of the year as the bank’s heavy investment into mobile banking continues to bear fruit, the company said.
TD Bank, the Cherry Hill, N.J.-based subsidiary of The Toronto-Dominion Bank, has launched a Visa-branded GPR prepaid card for teenagers—giving them the ability to make purchases in stores and online and enabling parents to track spending and set limits.
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.
Contactless transit payment is coming to the nation’s capital.
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.
One of the largest prepaid programs in the U.S. has an RFP out for issuers.
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 today announced a reseller agreement with Advanced Network Inc., in which ANI becomes a member of Better ATM Services’ reseller network.
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.
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.
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 […]
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.
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.
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.
Adyen, an Amsterdam-based provider of international and multichannel payment solutions, has appointed Kamran Zaki president of Adyen North America.
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.
JPMorgan Chase & Co. is seeking to exit the corporate and public prepaid sectors.
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 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.
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.
Another day, another government weighing in on the ongoing Bitcoin brouhaha.
Thames Card Technology Ltd. (TCT) has landed a capital infusion of £3.2 million (US$5.3 million) to expand its operations.
To kick off 2014, we asked payments industry thought leaders in the U.S. and Europe to reflect on the year that turned out not to be the “Year of NFC” and to look ahead at what will dominate prepaid and emerging payments for the next 12 months. We also asked them what the industry’s New Year’s resolutions should be.
Industry thought leaders weigh in on priorities for 2014.
HSBC has rolled out a service that will allow online retailers to give customers the choice to pay in various international currencies.
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.
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.
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.
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.
When he can’t sleep at 2 a.m., Mark Schatz, managing director of Stored Value Solutions, will get up and run eight miles. Akin to a phoenix, running invokes renewed clarity that supports his mission in managing one of the companies that gave birth to the closed-loop gift card industry.
The likes and dislikes of mobile banking customers around the world suggest that there is an opportunity to expand mobile services globally – but providers need to be careful they are targeting the right information to the right people, according to a new survey by analytics firm FICO.
Zynga Inc., the maker of popular social media games like FarmVille, has announced it will begin accepting Bitcoin as payment for in-game virtual goods.
The uptake of mobile banking in India has been hampered by a lack of cooperation between banks and telecoms, among other issues, according to a report by the Reserve Bank of India.
Mobile payments tech company Spindle Inc. today announced it’s closed a deal to buy Yowza!!, a Los Angeles-based mobile couponing platform, adding some scale to Spindle’s service.
Law firm Bryan Cave LLP has named Therese D. Pritchard the next chair of the firm, beginning Oct. 1, 2014, following a planned transition period.
