Sept. 24, 2013 Payment systems provider ACI Worldwide has bolstered its position in the bill payment business with the $109 million acquisition of Official Payments Holdings Inc., which provides bill payment solutions to federal, state and local governments, utilities, higher education institutions and charitable organizations throughout the U.S. Based in Norcross, Ga., Official Payments has […]
Sept. 23, 2013 PayPal Inc. reportedly is nearing a deal to acquire e-commerce payments processor Braintree Payment Solutions, which processes nearly $10 billion in annual payments for popular startups, including Uber Technologies, Rovio and Airbnb. Sources familiar with the discussions did not disclose financial terms of the potential deal, and cautioned that the talks could […]
Europe-headquartered mobile payments provider payleven has inked a deal to make the company’s mobile payment card reader system available to clients of Italian bank BancoPosta.
Sept. 23, 2013 TransCard is continuing its acquisition spree with the announcement last week that it’s acquiring PayPartners Inc., a provider of payroll and other corporate prepaid cards. PayPartners’ platform and cloud-based back-office portal complement TransCard’s services, making it easy to on-board, issue and manage payroll card portfolios, according to the Tenn.-based prepaid processor and […]
Sept. 23, 2013 Occupy Wall Street’s second anniversary last week did not draw large crowds, but organizers are pushing forward with plans to launch a reloadable prepaid card backed by a nonprofit cooperative, a spokesperson tells Paybefore. The Occupy Card, envisioned as an FDIC-insured Visa prepaid card, is designed so that anyone—including millions excluded by banks—may qualify […]
Dissatisfaction with global regulators has been expressed during the entire Sibos week, with the topic being raised in sessions across the board.
The Basel Committee on Banking Supervision’s April 2013 report, Monitoring tools for intraday liquidity management, has provided banks with the “trigger to reset their current infrastructures”, said Detlef Braun, senior consultant at vendor SmartStream.
The National Bank of Abu Dhabi (NBAD) has signed a deal with Deutsche Bank to use its Guaranteed US Plus payment solution, which it promises will improve price transparency for clients with individual US dollar flows into the US.
Google Wallet has cracked the iPhone barrier, proving, some would say, there’s no reason to wait for NFC to advance mobile payments.
Younger consumers likely will lead the charge toward mobile payments ubiquity over the coming years, but they have certain expectations that must be met by providers who seek to harness that demand, according to a new report from payments processor Vantiv Inc.
Sept. 19, 2013 The State Bank of India has selected international payments solutions provider Yalamanchili to provide the processing platform for the bank’s new State Bank Xpress Money Card, which enables cardholders to receive instant money transfers from the United Arab Emirates. The prepaid Visa card is co-branded by the State Bank of India and […]
Sept. 19, 2013 The Bitcoin Foundation is pushing for permission to allow bitcoins as a source of federal political contributions. The trade group this week made its pitch to the U.S. Federal Election Commission in a letter announcing its support for the concept, which the Conservative Action Fund PAC (CAF) proposed earlier this month. The […]
Infosys has launched Finacle 11E, a banking solution it said will help banks to modernise their operations, reduce cost and time to market and minimise risk. The product has a modular structure: banks can choose which parts they need and replace their existing systems one step at a time, depending on how far or fast they want to proceed.
In a time when information is king, the battle for data is not so much where to get it as how to get it and what to do with it. For many generation Y savers and spenders, the vast majority of their transactions are carried out online and their relationships with traditional banks are practically non-existent.
Clear2Pay has launched Business-in-a-Box, based on the company’s existing corporate payments hub (CPH) and open payments framework (OPF). The two products are aligned with the company’s new Virtual Vault Account Solution (Vivas) in a package that can be used to establish a virtual financial institution.
As trade flows shift across regions and economic headwinds blow, the trade finance business is facing challenges. Anne Queree examines how correspondent banking networks are adapting
As the Chinese Government continues its phased internationalisation of the renminbi, financial institutions are evaluating their strategies. Daily News at Sibos asked some Sibos delegates what financial institutions need to do to take full advantage of the opportunities offered by RMB internationalisation.
Sibos delegates have sent a blunt message to the world’s financial regulators that new regulations are neither well planned nor well implemented. Eighty per cent of delegates expressed their negative views regarding regulation in yesterday’s regulation plenary session.
A round-up of shorter news items from Sibos 2013 in Dubai
Visa Europe is to introduce a new services suite called Xelerate Card Services from revenue management and business assurance firm SunTec, which it will use to track a peak volume of 100 million transactions a day. Xelerate is designed to help bill member banks and approved non-members of Visa Europe in 36 countries. Visa Europe […]
Despite making headlines for all the wrong reasons for decades, Afghanistan is now trying to persuade the international banking community that there is a brighter future ahead for the country
Front and centre of the agenda that Swift set out at the beginning of this week’s Sibos is the concept of collaboration and cooperation – a perennial theme for Swift, but Leibbrandt told Daily News at Sibos there is a change in the air.
As the focus on operational risk increases, Nicholas Pratt discovers that the greatest threats to a bank’s security lie outside of its four walls
Innovation in financial services may not generate products quite so world-changing as the inventions of Edison, but the principle of finding better ways to do something does inform most developments.
The complexity of corporate actions has stymied automation efforts for more than a decade. But there could be light at the end of the tunnel …
Houston-based provider launches bill pay/mobile app combo as ‘ideal hook’ to establish customer relationship that expands to other financial services, including prepaid.
How is the global custody and asset servicing model changing? Will consolidation occur? What do clients want? Daily News at Sibos finds out
Crawling from the wreckage – Daily News at Sibos asks whether the industry will experience another Lehman Brothers-type crisis. Have market participants learned their lesson?
Two years on from the merger of Accuity and Bankers Almanac, the company has combined its counterparty and payment databases into a new tool that allows users to integrate them into their own workflows.
New technologies are transforming the consumer experience in retailing and in banking. For banks to remain relevant, they need to work with innovators, writes Paul Skeldon
Deutsche Bank has signed deals with Dubai Islamic Bank, Abu Dhabi Commercial Bank, Agricultural Bank of China and China Merchant Bank to use its products and services in Europe, the Middle East and Asia.
With implementation of Europe’s Target2-Securities beginning in 2015, financial institutions are still defining their strategies and business models. Some questions remain to be answered.
Barclays is making a determined effort to capitalise on the two-year lead it has built up with its Pingit mobile payments application with two new applications intended to allow retailers to integrate mobile payments into their services.
Standard Chartered has launched a mobile wallet service targeted at corporate clients in Kenya. The service has been developed in partnership with Safaricom, which operates the mobile money transfer service M-Pesa. The bank hopes the deal will herald the start of a major drive to open up financial inclusion in emerging markets.
The partnerships banks are forming with financial technology suppliers today look very different than routine client-vendor relationships of past decades, and one of the most interesting aspects of the trend is how both sides are transforming each other.
Sept. 17, 2013 The prepaid industry has a big opportunity in reaching the financially excluded and underserved across Europe, but it also has a lot of work to do to bridge the consumer education gap, according to new research from MasterCard Worldwide. The payment network today unveiled the “Road to Inclusion,” a report that shows while […]
Visa’s Japanese subsidiary Visa Worldwide (Japan) Co. is joining with mobile telecom provider NTT Docomo Inc. to launch what the companies are calling Japan’s first mobile-based virtual prepaid card for online shopping.
