23 August 2014

Latest News

Retail banking

Square gets defensive about 'totally bogus' myths

15 August 2014  |  5241 views  |  0

With Amazon threatening to eat its lunch and rumours swirling about a lack of strategy and profits, Square has gone on the defensive with a blog post explaining why "myths" about Jack Dorsey's baby are "totally bogus".

Mobile & online

Life.Sreda leads SumUp funding round

15 August 2014  |  3640 views  |  0

European mPOS contender SumUp has closed a "double digit million dollar" series c financing round led by Russian fintech venture capital fund Life.Sreda.

Cards

Payments Council names Barclays veteran Maurice Cleaves interim CEO

15 August 2014  |  4374 views  |  0

The UK Payments Council has brought in Barclays veteran Maurice Cleaves as interim CEO to guide the body as it prepares for a change of direction ahead of the introduction of a new payments regulator.

Payments

US supermarket chain Supervalu confirms network hit by 'criminal intrusion'

15 August 2014  |  4832 views  |  0

US supermarket chain Supervalu has become the latest retailer to admit that it has been hacked and that customer card data may have been stolen.

Cards

Heartland buys mPOS outfit Leaf

15 August 2014  |  3112 views  |  0

Payment processing giant Heartland Payment Systems has acquired Leaf, a Boston-based mPOS start-up with its own purpose-built tablet. Financial terms of the deal were not disclosed.

Retail banking

BitPay brings in Visa, PayPal and Jumio talent

14 August 2014  |  3610 views  |  0

BitPay has begun putting the proceeds of its recent $30 million funding round to use, embarking on a hiring spree that sees talent from Visa, PayPal and Jumio join the digital currency startup.

Wholesale banking

Markit beats forecasts with first public results

14 August 2014  |  3363 views  |  0

Financial data outfit Markit beat market estimates in its first set of reports as a public company, recording an 11% rise in second quarter revenues.

Payments

Barclaycard takes bPay wristbands beyond payments

14 August 2014  |  8301 views  |  0

Barclaycard is bidding to increase the reach of its bPay contactless wristbands beyond payments by offering businesses customer behavioural data gleaned from the wearable devices.

Cards

US migration to EMV gathers momentum

13 August 2014  |  6532 views  |  1

More than 575 million US payments cards will feature EMV chip security by the end of next year, according to a trade body set up to push the migration from magstripe plastic.

Retail banking

Hammer time: ATM attacker ID'd through facebook

13 August 2014  |  2391 views  |  0

A man who took a decidedly low-tech approach to theft by using a hammer to smash his way to the cash inside an ATM has been caught thanks to social media.

Payments

Alibaba strengthens Alipay ties ahead of IPO

13 August 2014  |  2457 views  |  0

Chinese e-commerce giant Alibaba has sold its SME loan business to the parent of Alipay in a move designed to increase the profits made on any future sale of the payments unit.

Cards

Amazon undercuts Square and PayPal with mPOS launch

13 August 2014  |  7453 views  |  0

Amazon has made its widely anticipated move into the crowded mPOS market, launching its dongle and app-based contender with an aggressive pricing strategy that undercuts both Square and PayPal.

Security

Guilty plea in $23m card fraud case

12 August 2014  |  3635 views  |  0

A US man has admitted leading a stolen credit card trafficking ring that racked up fraud losses of more than $23 million.

Mobile & online

Bank Leumi to run fintech hackathon

12 August 2014  |  3611 views  |  0

Israel's Bank Leumi is joining the fintech hackathon craze, calling on developers to come to Tel Aviv and build financial services-related apps for the chance to win a cash prize.

Retail banking

Intesa Sanpaolo backs Startupbootcamp fintech accelerator

12 August 2014  |  4123 views  |  0

Italy's Intesa Sanpaolo has become the latest big name bank to throw its weight behind the Startupbootcamp fintech accelerator programme.

Cards

Russian pleads not guilty to POS hacking

11 August 2014  |  2992 views  |  0

A Russian man has pleaded not guilty in a US court to charges that he hacked into point-of-sale terminals and sold stolen card data on online forums.

Wholesale banking

Misys acquires Custom Credit Systems

11 August 2014  |  2999 views  |  0

Misys is looking to extend its footprint into the multi-billion dollar market for commercial lending software with the acquisition of Custom Credit Systems (CCS), a US-based provider of commercial loan origination and workflow management software.

Wholesale banking

Finextra Leadership: The rise of the bank challengers

11 August 2014  |  7638 views  |  2

After stints at some of the world's biggest banks, Udayan Goyal is now helping to build up a new generation of challengers through his roles at Anthemis Group and Apis Partners. He talks to Finextra about how technology is changing the financial services industry and what the established players need to do to prosper in the digital age.

Retail banking

Global retail bank IT spend to soar - Ovum

08 August 2014  |  5069 views  |  1

Global retail bank IT spending is to set to rise 19.9% over the next four years to hit $150 billion in 2018, according to figures from Ovum.

Payments

VCs join fintech gold rush

08 August 2014  |  7910 views  |  0

There has been a surge in venture funding for fintech firms over the last six months, culminating in a number of big bets in July, according to data from CrunchBase.

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