23 October 2014

Latest News

Mobile & online

Etsy moves offline with mPOS play

44 minutes ago  |  46 views  |  0

E-commerce marketplace Etsy is setting its sights on the real world, entering the crowded mPOS market with its own app and card reader combo.

Retail banking

MasterCard invests in Mozido

5 hours ago  |  1345 views  |  0

US mobile payment outfit Mozido has completed the first phase of a $400 million funding round with support from MasterCard as it looks to expand its geographical footprint through a series of strategic acquisitions.

Mobile & online

Rotten Apple? BofA duplicates Apple Pay transactions

5 hours ago  |  1127 views  |  3

Early reports of a clumsy interface between thumbprint, iPhone and eftpos terminal and an unfortunate case of double-charging by Bank of America has taken the shine off what at first appeared to be a relatively trouble-free introduction of Apple's new mobile payment service.

Payments

The Clearing House wakes up to real-time payments

6 hours ago  |  1980 views  |  1

US bank-backed ACH The Clearing House is to undertake a multi-year effort to build a new real-time processing platform, as the country finally begins to get to grips with its antiquated payment systems.

Retail banking

MasterCard offers free WiFi to cardholders visiting the UK

16 hours ago  |  3192 views  |  3

MasterCard has partnered with BSkyB-owned The Cloud to offer cardholders visiting Britain free access to more than 22,000 WiFi hotspots.

Retail banking

Ex-Pimco boss El-Erian invests in P2P lender Payoff

20 hours ago  |  1549 views  |  0

Former Pimco chief executive Mohamed El-Erian has become the latest big name from the world of traditional financial services to take an interest in P2P lending, making an investment in US outfit Payoff.

Retail banking

Payments sector dominates booming fintech M&A activity

22 October 2014  |  3242 views  |  0

The value of fintech-related mergers and acquisitions hit $10 billion in the last three months, with deals involving payments firms dominating, data from investment bank Berkery Noyes shows.

Payments

Nordea to take EUR344 million IT charge as core platforms are upgraded

22 October 2014  |  10376 views  |  0

Nordea Bank is to take a EUR344 million impairment charge on its current IT systems as it embarks on a major project to rip and replace its core banking and payments platforms.

Security

Android malware mutations on the rise

22 October 2014  |  2522 views  |  0

The incidence of mobile malware assaults by banking trojans may be overstated, but mutations in attack vectors are growing at an alarming rate, according to a report by Kaspersky Lab and Interpol.

Start ups

Sign2Pay introduces signature-based mobile commerce payments

21 October 2014  |  3249 views  |  0

European startup Sign2Pay is hoping to crack the abandoned mobile commerce checkout conundrum with technology that lets customers complete purchases by signing their names on their phones' screens.

Cards

Staples investigates data breach; Moscow cleared of JPMorgan hack

21 October 2014  |  3563 views  |  1

Office supply retailer Staples has become the latest firm to reveal that it is investigating a possible data breach that could leave customer payment card details at risk.

Payments

Government rounds on Bank of England following Chaps breakdown

21 October 2014  |  9854 views  |  5

The Bank of England is coming under intense political pressure to provide a more detailed explanation of the ten-hour breakdown in the operation of the UK's high value payments system, Chaps, on Monday.

Start ups

Infocomm opens London office; invests in Startupbootcamp

21 October 2014  |  1624 views  |  0

Singapore's Infocomm Investments is looking to tap into London's booming fintech scene with the opening of a new office in the capital and an undisclosed investment in accelerator Startupbootcamp FinTech.

Payments

Apple Pay launches

20 October 2014  |  5035 views  |  1

Apple Pay enjoyed a relatively smooth launch in the US today, with customers of some of the country's biggest banks able to use their iPhones to make purchases at a host of bricks-and-mortar and virtual stores.

Security

Visa veterans raise $14.5m for bitcoin processing platform

20 October 2014  |  3958 views  |  0

Bitnet, a bitcoin payments processor targeting large merchants that was set up earlier this year by a gaggle of Visa and CyberSource veterans, has raised $14.5 million in a series a funding round led by Highland Capital Partners.

Retail banking

RBS preps P2P lending platform - FT

20 October 2014  |  4148 views  |  0

The Royal Bank of Scotland is set to begin piloting an online peer-to-peer lending platform for SMEs by the end of the year, according to the Financial Times.

Payments

UK's high value payment system Chaps goes down

20 October 2014  |  5779 views  |  5

The Bank of England was forced to suspend the UK's real-time gross settlement system Chaps for several hours on Monday while it investigated an unspecified technical glitch.

Virtual currency

Coinfloor to expand trading to wider range of currencies

20 October 2014  |  2920 views  |  0

London-based bitcoin exchange Coinfloor is to open up to new currencies, accepting deposits in US dollars, euros and Polish zloty, this Tuesday. Coinfloor is already the the biggest exchange for bitcoin-to-sterling transactions by volume of currency traded.

Retail banking

Westpac rolls out PayTag contactless stickers

20 October 2014  |  2344 views  |  0

Westpac NZ is to issue customers with NFC stickers that can be attached to phones for contactless payments of up to $80.

Retail banking

Obama signs chip and PIN executive order

17 October 2014  |  11616 views  |  9

US president Barack Obama has signed an executive order mandating the use of chip and PIN technology at executive departments and agencies for card payments.

Mobile & online

Crook dumps Target card details on Russian forum

17 October 2014  |  3883 views  |  0

A cyber-crook has uploaded the details of more than five million cards, many of them stolen during the data breach at US retailer Target, to a Russian carding site, says security firm Group-IB.

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