Hungary to Begin Mobile Payments Rollout in September (April 1, 2013)

Hungary this fall will roll out a uniform system for paying transportation costs via mobile phone. The National Mobile Payments System will be run by Nemzeti Mobilfizetési, a state-run company, while various mobile payment providers will act as resellers, according to a report in the Budapest Business Times. The platform initially will enable mobile payments […]

White paper: New rules of enterprise application development MEAP, MADP & MORE

Enterprise mobility is a constantly evolving undertaking. As with any technology, just when you think it’s safe to use a term, the wording changes or a new device or solution comes out. This report examines the technology behind mobile application development for the enterprise and takes a look at the platform landscape. Mobile application development […]

Banking on the real economy

Asset finance has had a lower profile than other types of loan. But the overall squeeze on lending and higher business loan rejection rates have led to an increased demand for leasing arrangements by SMEs. As a result, asset finance is now the third most common source of finance for businesses.

Is Visa Europe for Sale? WSJ Thinks So. (March 28, 2013)

Reports have swirled for the past week or more that the European banks that own Visa Europe might soon exercise an option to sell the organization to U.S.-based Visa Inc. and set up a new network of their own. Although Visa Europe members may be driving the sale, taking control of the European network could […]

i2c Adds Multipurse Budgeting Feature to Payments Platform (March 28, 2013)

Redwood City, Calif.-based payment processor i2c Inc. has added enhanced features to its payments platform that enable users to budget spending by using multiple purses within one account. i2c’s platform, known as MCP, enables companies to launch and manage card-based, virtual and mobile payment products to their customers. With the new features, i2c clients can […]

Interac Demos Canada’s First NFC Debit Transaction at Toronto McDonald’s (March 28, 2013)

Canada’s national ATM and debit network Interac this week announced the completion of the nation’s first NFC mobile debit transaction in a demonstration at a Toronto McDonald’s restaurant. The transaction showcasing the contactless EMV Interact Flash technology was conducted with an NFC-ready BlackBerry smartphone linked to a RBC Royal Bank customer’s bank account through mobile […]

Mizuho adopts Basel III compliance toolkit as rules tighten

Japan’s Mizuho International has adopted the common reporting, financial reporting and liquidity coverage ratio modules of Wolters Kluwer’s Basel III toolkit, which is designed to help banks cope as regulators tighten the screws on the banking sector’s capital requirements.

CME Group partners with MarkitServ for OTC FX clearing

US derivatives giant CME Group and OTC trade processing service MarkitServ have connected to support clearing for OTC FX transactions, ahead of new regulations in the US and Europe on the central clearing of OTC contracts.

Omgeo adds banking troika to board

Post-trade services provider Omgeo has appointed Edward Hazel of Goldman Sachs, Richard Taggart of State Street and Susan Cosgrove of the DTCC to its board of managers. The Omgeo board members are responsible for representing the interests of all Omgeo’s clients as decisions about strategy, governance and operations are made. Hazel is the global co-head […]

2013 Paybefore Awards: Best General Purpose Reloadable Card Program-U.S. Solutions

Best use of a consumer-funded reloadable network branded prepaid card for general use, such as ATM access and purchasing. Includes travel, remittance and youth-focused (including campus and student) programs; excludes payroll programs. For Paybefore’s purposes, card may mean a physical card or alternate form factor, including a virtual card. Best in Category: PayPal Prepaid MasterCard  […]

Avoiding spreadsheet Hell

The JP Morgan Task Force Report into its Chief Investment Office’s $6 billion-plus loss found the bank’s Value at Risk was being calculated with an Excel spreadsheet that “required time-consuming manual inputs to entries and formulas, which increased the potential for errors”.

FSA’s swansong opens a fast track for new entrant banks

In future, the possibility of a bank failure will be accepted as a normal market process, and barriers to entry for new start-ups, including a removal of capital requirement obstacles, will be removed, the Financial Services Authority and the Bank of England have confirmed.

Viewpoint: Early Days for NFC (March 2013)

By Lori Breitzke, E&S Consulting LLC In the initial installment of this article, we addressed how trends in EMV will impact the prepaid sector. But developments in near field communication (NFC) merit an equally close watch, as they, too, should have bearing on the prepaid market and how it plays out moving forward. Let’s start […]

Bluebird Adds FDIC Insurance, Direct Deposit of Gov’t Payments (March 26, 2013)

American Express and Walmart today announced that accounts held under the companies’ Bluebird program now will be eligible for FDIC insurance and, as such, will be able to receive direct deposit of government disbursements, including Social Security payments, military pay and tax refunds. The companies also have added a pre-authorized check-writing function, as well as […]

Allpoint ATM Network Passes 55,000 Mark (March 26, 2013)

Allpoint Network, the Bethesda, Md.-based ATM network operator, has expanded its surcharge-free network by 5,000 new cash machines located across the upper Midwest and northern Plains states. Allpoint’s surcharge-free ATM network, already the world’s largest, according to the company, now totals more than 55,000 machines across North America, the U.K. and Australia. An affiliate of […]

Banco Sabadell Launches NFC Pilot with Visa (March 26, 2013)

Spain’s Banco Sabadell, operating under various local bank brands from its headquarters in the city of Sabadell, has launched an NFC payments pilot with mobile network operator Telefónica and BlackBerry. Participating customers will receive an NFC-enabled BlackBerry Curve smartphone with their Visa payment card details stored in the handset, the bank said. Customers may download […]

FATCA woes for US au pairs in Switzerland

They were never going to be happy in Switzerland about the US FATCA legislation that will be used to hunt down people avoiding US taxes, but it’s a surprise to hear that some Swiss burghers are feeling sorry for a group of US citizens who have become part of the fabric of society there.

Resistant to digital banking? Consumers have never demanded it more.

In today’s multi-channel age, banks cannot afford to focus all their efforts on a single digital strategy any more than solely on the branch experience – the winners will be those that can see beyond channel-specific efforts and provide a truly integrated offering.

Millennials Leaning on Prepaid through Economic Recovery (March 25, 2013)

The U.S. economy’s slow recovery from the recession is driving millions of consumers between 18 and 34 years old to use prepaid cards as an alternative to a traditional bank account, forcing banks to rethink how they market financial services to young adults, various experts suggest. And as underemployed young adults in the so-called Millennial […]

More U.S. Consumers Pay Bills Online; Plan to Use Mobile (March 25, 2013)

More U.S. consumers are paying bills online and more are considering using their mobile phones to pay bills as well, according to the Western Union Payments Money Mindset Index, released today. The online survey of more than 3,000 respondents conducted by Javelin Strategy & Research, found that consumer preference for online and mobile bill payments […]

Report: Contactless Card Payments Rise in Turkey (March 25, 2013)

Contactless payment cards are gaining a significant foothold in Turkey, passing the 10 million card milestone in 2012, according to a new report from the Interbank Card Center of Turkey (BKM). The pace of growth has been rapid, with the number of contactless prepaid, debit and credit cards expanding to 10.3 million in 2012, up […]

TransCard Expands Product Line with Student Prepaid Card (March 25, 2013)

The growing student card market has a new entrant. Chattanooga, Tenn.-based processor and program manager TransCard is targeting banks that want to offer prepaid cards to college students with its newest reloadable prepaid product. The company’s announcement of its Student Prepaid Card comes just weeks after unveiling a prepaid card for banks to offer customers […]

Indonesian bank BCA adopts Nice Actimize AML tools

Indonesian bank PT Bank Central Asia Tbk has adopted an anti-money laundering toolkit from specialist security firm Nice Actimize, to help the bank monitor for suspicious market activity and ensure regulatory compliance.

Haynes leads new venture to tackle European equities

Following a period of equity market consolidation, the time is right for a new entrant to step forward and transform the exchange business, according to Alasdair Haynes, chief executive of startup trading venue Aquis Exchange.

Debit Network Consortium Selects Discover’s Technology to Resolve Debit Network-Routing Dilemma (March 21, 2013)

March 21, 2013 A troublesome roadblock to U.S. EMV adoption crumbled this week when 10 debit networks agreed to license a common U.S. debit application identifier (AID) from Discover Financial Services as the foundation solution for routing debit transactions under the EMV, or chip-card standard. The Secure Remote Payments Council’s decision resolves a stalemate that […]

Western Union Launches Platform for Global Product Development (March 21, 2013)

March 21, 2013 Western Union Co. continues to expand its prepaid offerings globally and yesterday announced the rollout of its Global Share platform, which the company says will enable it to work more easily with partner companies that offer complementary products and services. The platform will facilitate better collaboration and improve products’ speed to market, […]

LevelUp Seeks Scale with Heartland Partnership (March 21, 2013)

March 21, 2013 For mobile wallet providers, reaching scale with consumers and merchants has proved to be the 800-pound gorilla. However, Heartland Payment Systems, the Princeton, N.J.-based merchant processor, and LevelUp, a promotion-based mobile payment and loyalty network from Boston-based SCVNGR, believe their partnership will solve the problem. Following pilot programs in New York City, Boston, […]

EMCF and EuroCCP merger to target collateral efficiencies

As tough new collateral requirements bring ever greater pressure to bear on banks and financial market participants, the union of European clearing houses EMCF and EuroCCP into a new combined entity will help make clearing and settlement more efficient, according to Diana Chan, chief executive at EuroCCP.

FinCEN Clarifies Stance on MSB Regs for Virtual Currency Participants (March 19, 2013)

March 19, 2013 The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has issued clarification of its regulatory stance on persons and entities engaged in the use, exchange and administration of virtual currencies. According to a guidance notice issued by FinCEN this week, users of virtual currencies, such as Bitcoin and Amazon Coins are not considered […]

UnionPay Inks e-Commerce Deal for U.S., Canada (March 19, 2013)

March 19, 2013 International payment processor Planet Payment Inc. has joined with China UnionPay to enable UnionPay card users to shop online at e-commerce merchants based in the U.S. and Canada. The deal grants such retailers access to one of the largest card brands in the world, while continuing UnionPay’s recent efforts to expand acceptance […]

Billtrust Offers Integrated QR Codes for Mobile Billing (March 19, 2013)

March 19, 2013 Billtrust today has launched QR codes for biller statements, a service enabling consumers and businesses to pay their bills online by scanning the QR code with their smartphones. The Hamilton, N.J.-based provider of outsourced billing services can imprint a QR code on any outbound billing document, according to the company. When the […]

Information Mosaic strikes corporate actions deal with Thomson Reuters

Information Mosaic and Thomson Reuters have agreed to integrate the latter’s ISO-based corporate actions data feed with the former’s corporate actions solution, IMActions. Customers will get access to corporate actions data covering 94,000 companies in more than 93. “Corporate actions is a complex market where customers are balancing a global set of requirements combined with […]