PayPal Founder’s New App ‘Simplifies’ Mobile Shopping (Feb. 28, 2013)

Feb. 28, 2013 A new startup from PayPal co-founder Max Levchin is aiming to improve the process of making online purchases via mobile device—an improvement he says is a boon to customers and retailers alike. Known as Affirm, the new company is the brainchild of Levchin’s tech incubator Hard, Valuable, Fun and is launching a […]

CO-OP Financial Services to Offer TMG Prepaid Cards (Feb. 28, 2013)

Feb. 28, 2013 As part of a partnership established last year with The Members Group (TMG), a Des Moines, Iowa-based card processing and payment solutions provider, CO-OP Financial Services today announced it will be offering TMG’s reloadable prepaid cards to all of its client credit unions. The TMG reloadable prepaid cards are in addition to […]

AccountNow Reports Major Call Volume Shift with VoltDelta (Feb. 28, 2013)

Feb. 28, 2013 Customer service is in the news for the second time this week as prepaid card provider AccountNow Inc. reported that more than 90 percent of its call volume is now resolved in the automated system rather than via live agent. The increase follows AccountNow’s move to VoltDelta for customer service 18 months […]

Blog: New Credit Card Surcharges Could Impact Prepaid Market (February 2013)

February 2013   By Lori Breitzke, E&S Consulting LLC A proposed settlement agreement in the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation—filed in 2005 on behalf of approximately 7 million merchants alleging, among other claims, that MasterCard and Visa had separately colluded with banks to eliminate competition and increase interchange (swipe) […]

Wincor Nixdorf predicts mobile cash withdrawal explosion

While most large banks in the UK offer a mobile app, some do not yet offer mobile cash withdrawal as a feature. That is likely to change soon, according to Ian Byrne, banking director UK and Ireland at ATM maker Wincor Nixdorf.

Data protection: the next Y2K?

Transatlantic friction over data protection isn’t exactly a new problem – the industry has been faced with pending regulations for over a decade, but the conflicting demands of European data privacy and US intelligence gathering legislation are coming together to make the issue a serious problem for banking technologists.

Rawbank revamps internet banking services with Clear2Pay

Kinshasa-based Rawbank has selected Clear2Pay’s e-Banking solution to revamp its online and customer loyalty strategy. Since its launch 10 years ago, Rawbank has become the largest bank by total deposits and total assets in the Democratic Republic of Congo, with a network of branches 30+ providing a local service to retail and corporate clients. Rawbank, […]

Ready for retail revival

Today, maximising profit is harder than ever for banks. The large retail banks have been forced to sell off branches and their investment arms are under increasing scrutiny, writes Tim FitzGerald, finance & banking sales manager, Casewise. The need to change – be it adapting to newly-imposed regulatory frameworks, to differentiating yourself from the competition and […]

Early warning for trading failures

Technology companies Verdande and ITRS have developed an early warning system designed to detect trading outages and system failures before they happen.

Mauritius adopts e-payment as PeX turns to BPC-HP

Payment service provider Payment Exchange has moved its Mauritius operation onto BPC Banking Technologies’ HP Integrity NonStop platform, which is designed to make it easier, faster and cheaper to launch new products.

U.S. EMV Migration Forum Sketching Plans for One-City EMV Pilot (Feb. 26, 2013)

Feb. 26, 2013 Payments industry experts eyeing the October 2015 target date for the U.S. migration to EMV card technology are contemplating plans to set up an EMV pilot in a single U.S. city to boost EMV planning and to work out the bugs in chip-card deployment. The concept, hatched by a committee within the […]

paysafecard Launches Online Shopping Account (Feb. 26, 2013)

Feb. 26, 2013 European e-voucher provider paysafecard group has launched a new service it says will simplify the process of Internet shopping for its customers. The Paybefore Award-winning firm’s new system—dubbed “my paysafecard”—enables customers to combine all of their paysafecard e-vouchers into a single account. Instead of having to enter separate 16-digit PINs for each […]

GOP Leaders Talking Tough on Interchange Fee Cap (Feb. 26, 2013)

Feb. 26. 2013 Rep. Spencer Bachus (R-Ala.) today told attendees at a Credit Union National Association Government Affairs Conference in Washington, D.C., that federal lawmakers may revisit the debit interchange fee cap created by the Durbin Amendment this year, according to CUNA’s News Now. The publication also reports the Rep. Jeb Hensarling (R-Texas) said earlier […]

Prepaid Customer Service Takes Center Stage at Philly Fed Workshop (Feb. 26, 2013)

Feb. 26, 2013 The Payment Cards Center of the Federal Reserve Bank of Philadelphia hosted a workshop last week focused on customer service in the prepaid card industry. Susan Herbst-Murphy, a senior industry specialist at the PCC, says the center was eager to learn more about customer service issues in light of the Treasury’s mandate […]

Omani Bank Stung by Travel Card Fraud (Feb. 26, 2013)

Feb. 26, 2013 Oman’s largest bank said a dozen of its prepaid travel cards were compromised outside of the country. Bank Muscat will take an impairment charge of up to 15 million rials (US$39 million) as a result of the unspecified fraud—a figure representing more than 10 percent of the bank’s latest annual earnings.   […]

Heightened banking cyber threats require clear focus

As the US Federal Reserve joins a growing list of financial institutions targeted by cyber criminals, reports of an organised campaign to recruit hackers for a large-scale malware attack, dubbed Project Blitzkrieg, has further highlighted the challenge facing the banking sector.

SEPA Uncertainty

Big banks and their large corporate clients are in the final stages of preparation for the SEPA end date of February next year, but what about the smaller clients in the non-euro countries?

Jefferies adopts IPC extranet service

US investment bank Jefferies is to use a financial extranet and data service from IPC Systems, a New Jersey-based technology specialist.

Wagner aims at m-commerce gap

Dan Wagner is pretty sure that he has an idea how the use of mobile devices will play out in the commercial world and how the relationships between banks, merchant acquirers, merchants and customers will change.

Saxo Bank revamps mobile trading app

Saxo Bank has added new features to its trading app SaxoTrader, which works on iPhone and iPad and is designed to make trading more mobile.

Qatar Exchange introduces sponsored access

The Qatar Exchange has introduced sponsored access and market making for the first time, in a move intended to boost liquidity and make it easier for a wider pool of investors to access the market.

Visa Inks Deals with Samsung, Roam for ‘Ready Partner’ Program (Feb. 25, 2013)

Feb. 25, 2013 Aiming to speed up development of mobile payment technologies, Visa Inc. on the eve of this week’s Mobile World Congress in Barcelona announced the Visa Ready Partner Program, a framework it hopes will make it easier for mobile device manufacturers, mobile network operators and various of their technology partners around the world […]

MasterCard Unveils MasterPass for ‘Simple’ Shopping Experience (Feb. 25, 2013)

Feb. 25, 2013 MasterCard Inc. today unveiled MasterPass, a cloud-based service that builds on its PayPass Wallet Services by eliminating the need for consumers to enter card or shipping details with each purchase and adding new tools to enhance online, mobile and in-store shopping. MasterPass will roll out through banks in Canada and Australia beginning […]

PayPal to Enter Crowded European Mobile Card Reader Market (Feb. 25, 2013)

Feb. 25, 2013 PayPal continues its diversification into brick-and-mortar payments with the announcement that it will expand its PayPal Here mobile card reader to Europe, beginning in the U.K. this summer. The European iteration of PayPal Here will differ from the version launched in the U.S. nearly a year ago in some key ways, due […]

ATM Survey Suggests Prepaid Card Opportunity for FIs (Feb. 25, 2013)

Feb. 25, 2013 Recent research into the prepaid card-buying habits of ATM users indicates an opportunity for credit unions and banks to capture a portion of the prepaid card market by leveraging the convenience of ATMs. More than 85 percent of credit union members use ATMs and 70 percent of those ATM-using members also buy […]

China UnionPay Continues NFC Push with Gemalto Pact (Feb. 25, 2013)

Feb. 25, 2013 Shanghai-based payment card network China UnionPay (CUP) continues its efforts to develop NFC payments, signing an agreement with Dutch digital payment security provider Gemalto to build “a secure mobile NFC ecosystem.” The partnership will cover deployment issues including trusted service manager interoperability, along with technology standards and specifications, the firms said. China […]

CLS hires Kos to head regulatory affairs

Foreign exchange utility CLS Group has appointed Dino Kos as head of global regulatory affairs. In his new role, he will report to David Puth, chief executive at CLS from his base in New York.

ESMA guidelines could reshape European market making

New guidelines published earlier this month by European regulator ESMA could have a major impact on market making across Europe, according to Matthew Coupe, director of regulation and market structure at NICE Actimize.

PayPal rolls out Chip & PIN reader in Europe

Payment provider PayPal has launched a card reader device that handles Chip & PIN and PayPal payments in Europe. The device will be available to select UK businesses over the coming months before becoming generally available this summer.

The changing face of payments

The Payments Council’s latest report, The Way We Pay, shows rapid changes in use of payment methods over the past decade – but cash is still in the mix.

EU/US face-off over FISA on the cards

It has been clear for some time now that some of the regulations coming into force around the globe contain contradictions and inconsistencies. A large part of the work done by JWG, Banking Technology‘s  partner for our regular RegTech coverage, has been in identifying these, working out their impact on systems and processes and what issues […]

iZettle and Santander “democratise” cheap card payments

Spanish bank Banco Santander has signed a deal with iZettle, a fledgling Swedish payments specialist that focuses on ‘social’ payments. The two companies plan to distribute mini chip-card readers to customers, so that they can accept card payments with smartphones and tablets.

European exchanges unveil MSCI derivatives

European exchanges Eurex and NYSE Liffe are soon to list a host of new derivatives, based on MSCI indices. From March, market participants will be able to trade futures and options based on the MSCI World, MSCI Europe, MSCI All Countries Asia Pacific ex-Japan and futures on the MSCI Frontier Markets.