30 September 2014

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EBay and PayPal to split

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EBay is to spin off Paypal into a publicly traded company in 2015 and has appointed American Express executive Dan Schulman as president and CEO of the payments business in anticipation of the move.

After closing a $50 million funding round, Reddit could create its own cryptocurrency as a way of handing over shares in the platform to its massive user-base.

Yodlee Interactive is launching a private beta programme that will marry its transactional data with geo-location information in an effort to make app offerings more personalised.

Dwolla has raised $9.7 million in a funding round led by exchange operator CME Group in a move that signals the digital payments startup's intentions to move beyond the retail world.

General Catalyst Partners is to invest $10 million in venture capital for market-changing businesses and applications built on the Stripe Connect platform.

Bank of America Merrill Lynch is tapping the technology behind its P2P payments service to launch a system that lets companies send money directly to customers' accounts using their mobile number or email address.

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Non-cash payments volumes are expected to increase by nearly 10% percent to reach 366 billion transactions in 2013, fueled by strong growth in developing markets and mobile payments, according to the 10th annual World Payments Report from Capgemini and Royal Bank of Scotland (RBS).

Financial services firms will be able to use '.bank' domains from next year after a collection of industry organisations struck a deal with Icann.

Germany's central bank is working with EBA Clearing to build a new XML-based infrastructure for clearing debit card transactions for the country's financial institutions.

Swift will give free access to its new KYC Registry throughout 2015 to banks that contribute their own data to the service.

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