03 September 2014
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Payments

Banks and retailers sign on for new Australian Payments Council

26 August 2014  |  5342 views  |  1

Australian banks, retailers and payments specialists have signed on to a new co-ordination body that aims to step up the pace of innovation in the country's payments industry.

Mobile & online

Americans embrace mobile banking but the branch makes comeback

26 August 2014  |  5452 views  |  8

The Internet continues to be America's most popular banking channel but is losing ground to mobile, ATMs and even branches, according to an ABA survey.

Mobile & online

EBay ponders PayPal spin-off - report

22 August 2014  |  6610 views  |  0

Shares in eBay rose nearly five per cent yesterday afternoon off the back of a media report that the online auction house could spin off its PayPal unit as early as next year.

Retail banking

St George preps fingerprint login for iPhone app

22 August 2014  |  5366 views  |  1

Australia's St George Bank will soon let iPhone-owning mobile customers log into their accounts with only a fingerprint.

Cards

ATM spy camera fraudsters jailed

22 August 2014  |  4145 views  |  1

Members of a gang which used ATM spy cameras and skimmers to steal the card details of 36,000 people across the UK have been jailed.

Retail banking

Cash is a pain in the ass: Blackpool donkey goes contactless

22 August 2014  |  7153 views  |  0

Blackpool's famous donkeys have made London's tube network look like an ass by beating it to the contactless payments punch.

Transaction banking

ECB fingers systemically important payment systems for oversight

21 August 2014  |  6840 views  |  0

The European Central Bank has named four key payment systems - Target2, Euro1, Step2-T and Core(Fr) - as "systemically important", and so subject to new regulations.

Payments

Google's Aussie chief rejects Wallet for 'more exciting' things

21 August 2014  |  5529 views  |  4

Google Wallet is not coming to Australia anytime soon, with the company's boss in the country declaring she has "more exciting" things to concentrate on.

Wholesale banking

RBS settles loan software copyright suit

21 August 2014  |  2721 views  |  0

The Royal Bank of Scotland has reached a settlement that lets it use critical trade finance software from vendor Complex Systems that a US judge had banned it from over copyright infringement.

Security

UPS becomes latest data breach victim

21 August 2014  |  8786 views  |  1

Package delivery giant UPS has become the latest company to admit that customer payment card details may be at risk after it discovered malware at 51 of its US stores.

Wholesale banking

Wells Fargo to invest in fintech startups through accelerator

20 August 2014  |  8654 views  |  0

Wells Fargo has become the latest bank to launch an accelerator programme, promising mentoring and hard cash to selected fintech startups.

Payments

As Equity Bank preps rival, Safaricom slashes M-Pesa fees

20 August 2014  |  3899 views  |  1

Kenyan telco Safaricom is slashing its transaction fees for low value person-to-person payments made using its wildly popular M-Pesa mobile money service.

Security

Credit Karma settles with FTC over app security failings

20 August 2014  |  3065 views  |  1

Credit and financial management service Credit Karma has been ordered to beef up its security after a US watchdog found that its mobile app left users' sensitive personal information vulnerable.

Payments

PayPal taps Venmo for one-touch in-app payments

20 August 2014  |  4170 views  |  0

PayPal has taken advantage of technology from its Braintree unit to build a system which lets mobile shoppers make in-app purchases with a single touch.

Mobile & online

Square scores investment to extend cash advance service

19 August 2014  |  4187 views  |  0

Square is ramping up its small business financing programme after securing investment from Victory Park Capital.

Retail banking

UK banks introduces 'retry' system to tackle bounced payment fees

19 August 2014  |  4349 views  |  0

The UK banking industry has introduced a 'retry' process that will give customers a second chance to avoid bounced payments and their associated charges.

Risk & regulation

PwC fined $25m for whitewashing bank's sanctions violations

19 August 2014  |  3722 views  |  0

PricewaterhouseCoopers has been fined $25 million by New York State's financial watchdog after it sanitised a report for regulators into anti-money laundering at Bank of Tokyo-Mitsubishi UFJ (BTMU).

Wholesale banking

Deutsche Bank hires Goldman and RBS IT execs

19 August 2014  |  4460 views  |  0

Deutsche Bank has raided Goldman Sachs and Royal Bank of Scotland to bring in two senior technology and operations executives.

Risk & regulation

Finra charges Wedbush Securities with market access violations

18 August 2014  |  2918 views  |  0

Wall Street regulator Finra has charged brokerage Wedbush Securities with systemic market access violations and anti-money laundering and supervisory failures.

Payments

Liberty Reserve manager pleads guilty to money laundering

18 August 2014  |  2876 views  |  0

A manager at Liberty Reserve, a digital currency outfit described by authorities as the criminal underworld's "bank of choice", has pleaded guilty to money laundering charges.

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