Hasty unilateral moves by individual countries could undermine the ability of financial institutions and markets to benefit from new regulations and weaken efforts to improve financial stability, delegates at the BBA conference in London heard yesterday.
Banks in the UK are increasingly shifting jobs away from London, with the result that while the overall number of banking jobs fell 0.5% between 2013-14, 77 local authorities in the UK saw the number of banking jobs grow faster than in London.
LG Electronics may be next to join the growing parade of mobile payments providers, and the biggest clue is the South Korean handset maker’s recent move to file a U.S. trademark application for “LG Pay.”
Visa Inc. is giving small and midsize credit and debit card issuers a new tool to optimize their marketing efforts.
The National Retail Federation’s annual holiday survey puts gift cards on top as the most requested holiday gift for the ninth consecutive year. Plus, consumers share plans for their most mobile holiday shopping season yet.
Several new entries appear in the shortlist of vendors whose products and services have been voted for by Banking Technology readers – and several previous winners re-appear under new ownership following acquisitions.
MasterCard is bolstering security on several fronts, launching tokenization for MasterPass and a new tool to help banks and processors reduce the threat of cyberattacks.
UniRush LLC last week disclosed a major service interruption with its RushCard GPR product that resulted in many of its customers experiencing difficulty using their cards and accessing funds over several days, resulting in apologies from RushCard co-founder Russell Simmons and a four-month holiday from card fees that will run Nov. 1, 2015, through Feb. 29, 2016.
Paris-based global card manufacturer Oberthur Technologies is planning to go public in what its owner, private equity firm Advent International Corp., is saying will be the largest technology IPO in Europe this year, according to reports.
Walmart this week joins major merchants participating in MCX’s CurrentC mobile payments test underway in Columbus, Ohio, with Exxon Mobil and Shell coming soon, the consortium confirms.
With the holiday season approaching, consumers will be able to purchase lottery gift cards to give as gifts or for self-use through a partnership with InComm and Scientific Games International. The Atlanta-based prepaid product and technology provider signed a five-year deal with Scientific Games to provide lottery gift cards in North America.
GPR card fees in the U.K. have been trending downward over the past few years, but forthcoming limits on interchange revenue could pressure issuers to reconsider their fee structures, according to Polymath Consulting’s David Parker.
Banks from around the world are among the candidates on the shortlist for the Banking Technology 2015 Awards, announced today, showing the continuing competitive edge regional institutions are gaining over the large international players through technology.
More transparency is urgently needed to restore trust in the FX industry, according to a new report by foreign exchange MTF LMAX Exchange – but to make that happen, the industry will have to collaborate.
Atlanta-based payments processing and technology provider First Data sets U.S. IPO record raising $2.5 billion, pricing its IPO of 160 million shares of Class A common stock at $16 per share.
A lack of information in securities messages creates problems for financial institutions screening them for regulatory compliance. But if the audience in a session yesterday is representative, only around half of them are screening anyway.
Banks have been quick to participate in the China International Payment System (Cips) and Sibos has provided the perfect opportunity for them to boast of their involvement. The payments infrastructure, which was launched on 8 October, was described as a “milestone” by Helen Yun, managing director and head of financial institutions China, Bank of America Merrill Lynch. Speaking during the Developing your transaction business with China session on Tuesday, she said the launch came at the right time, just a few days before Sibos opened.
With today’s launch of its Capital One Wallet, Capital One is the first U.S. bank to enter the mobile wallet race. But with 22 million active mobile customers, Chase may not be far behind.
Blackhawk Network Inc. today announced a key partnership with the 5-year-old Palo Alto, Calif. based startup Stockpile Inc., to distribute a line of gift cards representing U.S. stock market shares that can turn recipients into equity investors for as little as $50.
Dan Henry has been mostly quiet since leaving his role as CEO of NetSpend last year, but the payments pioneer has now dipped a toe back into the industry, investing in m-POS provider CardFlight.
Court considers whether it’s permissible for a discount for using cash or a surcharge for using credit cards.
A high-end fitness company selling tickets to reserve a spot in a specific class at a designated date and time comes under scrutiny for violating the CARD Act.
Borders gift cardholders do not get to claim $210 million in unredeemed gift card funds.
Target Corp., Amazon.com and a host of other retailers continue to challenge MasterCard, Visa and several large banks over the terms of a $7.25 billion settlement reached in 2013. The settlement was supposed to end the retailers’ claims that the banks and MasterCard and Visa artificially inflated interchange fees. Several of the largest retailers, however, […]
America has led Europe in payments innovation. Europe has led in payments regulation. The recent rubberstamping of PSD2 in Brussels suggests that’s likely to continue.
Correspondent banking business models will continue as they are but adapt to changes in customer needs rather than replace existing infrastructures with new technologies such as blockchain.
There is no longer an issue of whether to offer real-time payments but rather how to offer them, according to the panellists in yesterday’s Real time: how fast is too fast? session. And now the demand has stepped up a gear from peer to peer payments to the corporate world.
SmartStream has extended the capabilities of its Trade Lifecycle Management suite with the launch of an adaptor. The adaptor will provide a full lifecycle of trading messages for the non-clearing OTC derivatives market and TLM Cash Management module for the front-office, which will provide a global real-time view of cash positions across all settlement channels […]
Card marketing and production service provider Arroweye Solutions has named Jeff Lipa vice president of business development.
The Bancorp has hired Steven Turowski as executive vice president, chief risk officer.
DH Corp., a provider of technology solutions to financial institutions globally, announced that it has rebranded Fundtech as its new Global Transaction Banking Solution (GTBS) business.
Ingenico Group, a global payment solutions provider, has received the Smart Card Alliance “Center of Excellence” designation for 2015—its second year in a row.
JetPay Payment Services, a division of JetPay Corp., has appointed Thomas Tesmer chief operating officer.
Stripe, which specializes in mobile and online payments technology, has appointed Will Gaybrick chief financial officer.
Payments processor The Members Group (TMG), a credit union service organization, has hired Pam Brodsack as chief technology officer.
Twitter’s board of directors has appointed Jack Dorsey CEO and named Adam Bain chief operating officer.
CPI Card Group rang the bell to open Friday trading, signifying the Littleton, Colo.-based card producer’s initial public offering. The company is trading its common stock on the Nasdaq Global Select Market (ticker symbol: PMTS) and the Toronto Stock Exchange. “This is an exciting time for us, our shareholders, our customers and our employees, as […]
Atlanta-based IDology Inc., is augmenting its ammo to battle against fraudsters in the mobile payments and e-commerce channels with a strategic investment in Payfone Inc., combining IDology’s online identity verification and fraud prevention services with Payfone’s mobile security services with a new service, ExpectID Mobile, to verify customers’ identities in the mobile space.
Money is a significant source of stress among millennials, with financial concerns affecting their emotional and physical well-being, personal relationships and work performance, a new report says.
SETL, the institutional payment and settlement infrastructure based on blockchain technology, claims to have which has broken the 1 billion transactions-per-day capacity barrier for blockchain movements in a test network.
