Ex-Deutsche Bank head trader launches investor app
A new app-based social network that uses gamification concepts to train traders and help them to hone their skills has been launched by a former Deutsche Bank trader.
News
Data veteran Dalglish takes transformation role at SmartStream
Industry veteran Tom Dalglish has joined SmartStream Technologies as head of transformation services, managing post-trade processing and data management projects for global clients. Initially he will be responsible for managing the back-office transformation programme at an unnamed European bank.
UniRush Strikes Deal with MetaBank, while Considering New Revenue Streams (Aug. 28, 2014)
Meta Payment Systems, a division of MetaBank, has entered into a multi-year agreement with UniRush LLC, to issue the RushCard Visa-branded GPR card.
Citi Wallet Debuts, Leverages MasterPass One-Click Checkout (Aug. 28, 2014)
Ready for the battle of the bank-branded digital wallets? New York-based Citi this week introduced Citi Wallet, to streamline online shopping for credit card customers.
Ingo Money: 85% of OK’d RDC Checks Available in Minutes (Aug. 28, 2014)
More than 85 percent of approved checks sent over the Ingo Money platform, accounting for more than 90 percent of the platform’s total check value, now are funded to customer accounts and available to spend within minutes, according to Ingo Inc., the Georgia-based electronic funding specialist that operates Ingo Money.
Aussie Group to Beef Up Country’s Payments System (Aug. 28, 2014)
Australian banks, retailers and other payments stakeholders have formed the Australian Payments Council to ensure the country’s payments system meets the needs of consumers and businesses by fostering development of innovative, secure and competitive payment services, according to an announcement.
Report: With Data Breaches on Rise, Issuers Should Up Protections (Aug. 26, 2014)
As payment card data security breaches become more common, financial institutions must step up to protect customer data, a new report says.
CFPB Finalizes Remittance Transfer Rule; Extends Temporary Exception (Aug. 26, 2014)
The CFPB has finalized its remittance transfer rule requiring remittance transfer providers to disclose certain third-party fees and any exchange rates applicable to the transfer.
Domestic Routing Mandate Could Hinder CNP Transactions in India (Aug. 26, 2014)
India’s central bank now requires all card-not-present transactions for purchases within the country to be routed through a bank in India, with funds settled only in Indian currency.
CPI Card Group to Acquire EFT Source (Aug. 26, 2014)
Littleton, Colo.-based card producer CPI Card Group is acquiring EFT Source, a provider of card programs and personalization services for the financial payments industry.
NACS Merchants Challenge Fixed Cost Component, Relent on Network Routing (Aug. 25, 2014)
The merchant groups embroiled in a long-running legal battle over debit interchange fees have petitioned the U.S. Supreme Court to review the case on the grounds that the Federal Reserve improperly took into account certain costs incurred by card issuers when calculating debit interchange fee limits. However, the retailers have not challenged a separate rule governing the number of unaffiliated debit card networks that must be available for debit and prepaid card transactions, which is good news for card issuers because it gives much longed-for certainty around a challenging issue.
CBA Takes Umbrage with CFPB’s ‘Vague Allegations’ (Aug. 25, 2014)
The Consumer Bankers Association is taking umbrage over what it says are vague allegations by the CFPB’s private education loan ombudsman regarding agreements colleges and universities have with financial institutions to provide financial products to students.
More Time to Comment on N.Y.’s Bitlicense Proposal (Aug. 25, 2014)
In the wake of a flood of interest in a regulatory framework for digital currency companies proposed by New York State’s Department of Financial Services, the DFS has doubled the length of the comment period to 90 days.
PayPal, Braintree Rolling Out ‘One Touch’ Mobile Payment Service (Aug. 20, 2014)
PayPal and Braintree, which is part of PayPal’s business unit, are rolling out the One Touch mobile payment solution, which will enable consumers to make purchases on their mobile devices from PayPal merchants with one touch of the screen, rather than entering user IDs, passwords and payment card information.
Merchants Petition Supreme Court in Debit Interchange Case (Aug. 20, 2014)
A group of merchant associations this week petitioned the U.S. Supreme Court to review a March decision by the U.S. Court of Appeals for the District of Columbia.
M-Pesa Slashes Fees as Possible Rival Emerges (Aug. 20, 2014)
Users of Kenya’s popular M-Pesa P2P payments platform can send funds at lower costs now that telecom provider Safaricom has slashed transaction fees for most transfers by more than two-thirds.
People on the Move: Jon Round and Terry Murray, CARD.com
CARD.com, a mobile-focused financial product provider, has hired Jon Round as chief operating officer and Terry Murray as head of prepaid operations.
People on the Move: Jamie Topolski, Fiserv Inc.
Fiserv Inc., a Brookfield, Wis.-based financial services technology provider, has named Jamie Topolski director of alternative payment strategies, output solutions.
People on the Move: Martha Weaver, Gift Card Network
The Gift Card Network, a gift card-specific marketing and collaboration platform, has named Martha Weaver director.
People on the Move: Maurice Cleaves, The Payments Council
The Payments Council, a U.K.-based payments industry association has appointed Maurice Cleaves interim CEO, effective Nov. 3, 2014.
People on the Move: Marcell L. King, Payveris
Payveris, an online and mobile payments company, has announced plans to create a merchant solutions division, which will be led by payments industry veteran Marcell L. King as president, merchant solutions.
DHgate Becomes First Chinese Merchant to Deploy MasterPass (Aug. 19, 2014)
Beijing-based e-commerce platform DHgate is integrating MasterCard’s MasterPass online payment service to simplify online purchasing for customers.
Global Payout to Acquire M-Payments Provider Focused on Underserved (Aug. 19, 2014)
Global Payout Inc., an electronic payment and prepaid solutions provider, today announced plans to acquire Maxie Mobile LLC, a global mobile payments provider focused on the underserved.
SumUp Nets New Funding for mPOS Expansion (Aug. 19, 2014)
European mPOS provider SumUp has landed a new investment of more than $10 million to expand operations, including propelling adoption of its recently launched chip and PIN card reader.
QR Code Patent Latest Clue on Apple’s Mobile Wallet Plans
Details of Apple Inc.’s mobile wallet plans continue to trickle out, with the latest clue found in a patent filing that illustrates a QR code. Published late last month, the application describes a parental control system that would enable parents to control payment authorization on their children’s mobile devices.
PCI Council: Merchants Should Scrutinize Vendors’ Data Security
The Payment Card Industry Security Standards Council has issued new guidance to help merchants ensure that third-party providers have implemented sufficient security measures to protect shoppers’ payment card data.
FIS Providing Services for Univision MasterCard Prepaid Card
Spanish-language media company Univision has chosen payment technology supplier FIS to provide end-to-end prepaid services for the Paybefore Award-winning Univision MasterCard Prepaid Card.
Heartland Acquires mPOS Tablet Maker Leaf
Heartland Payment Systems has acquired Leaf, creator of an mPOS tablet, a deal the payments processor said demonstrates its commitment to providing resources and support for small- to medium-sized businesses.
FIX may yet be the Alpha and Omega of post-trade messaging
Capital markets participants may be able to achieve significant cost savings by making greater use of the FIX Protocol, according to a new study by post-trade specialists Alpha Omega Financial Systems.
FX industry calls for greater accountability on IBOR benchmarks
ACI, the foreign exchange industry body, has called for the adoption of a new Model Code for sell-side and buy-side firms on financial benchmarks, to harmonise codes of conduct and prevent a recurrence of the Libor and other recent rate fixing scandals.
FleetCor Acquires Comdata for $3.45 Billion (Aug. 15, 2014)
Corporate payments provider Comdata Inc. has been acquired for $3.45 billion by FleetCor Technologies Inc., a global provider of fuel cards and other workforce payments.
A Sad Goodbye to Terry Maher, One of the Industry’s Good Guys
On Aug. 12, we lost a dear colleague, friend and frequent contributor to Paybefore.
Smart Card Alliance: HCE Unlocks NFC Potential, Poses Hacker Risks (Aug. 14, 2014)
Host card emulation (HCE) unlocks the potential for NFC to expand mobile payments by making them more convenient and consumer-friendly, but developers must proceed with caution because of various security risks HCE poses, according to a new white paper from the Smart Card Alliance.
575 Million EMV Cards by End of 2015, Says Group (Aug. 14, 2014)
More than 575 million payment cards in the U.S. will be equipped with EMV chip security technology by the end of 2015, according to the latest projections from an industry group managing EMV implementation.
Consumers in 190 Countries Can Use Payza to Buy Bitcoin (Aug. 14, 2014)
Payza, an online payment processing and e-wallet services provider, announced that customers in 190 countries can now buy bitcoins from their Payza account and then transfer the digital currency into their Bitcoin wallets.
Indian E-Gifting Platform Adds Pair of Leading Retailers (Aug. 14, 2014)
Electronic gifting is growing in India, where retailers have adopted e-gifting to drive sales and increase brand awareness.
More Lawmakers Try to Influence DOE on Campus Card Rules (Aug. 13, 2014)
Letter writing among U.S. lawmakers has been fast and furious lately as they try to influence how the U.S. Department of Education handles new rules governing universities’ and colleges’ arrangements with financial service providers that deliver financial aid dollars.
Amazon Dives into mPOS Market (Aug. 13, 2014)
There’s a new player in the mPOS arena—and it’s a heavyweight.
The Small Business Opportunity for Digital Banking (Aug. 13, 2014)
Financial institutions looking to attract and retain small business customers can do so by beefing up their digital banking services, according to a new white paper from Fiserv.
paysafecard Debuts Prepaid MasterCard (Aug. 13, 2014)
Online payment voucher provider paysafecard has launched a new prepaid MasterCard, giving customers of the Vienna-based company a way to pay for offline purchases, as well.
