23 October 2014

Latest News

Payments

More banks join Paym

14 October 2014  |  3260 views  |  0

UK bank-backed mobile payment service Paym has confirmed that 20 new institutions have signed up to use the service, with first direct the first into production with a live roll-out.

Cards

Visa and MasterCard face scrutiny by new UK watchdog

14 October 2014  |  7128 views  |  0

The UK government is planning to put supervision of MasterCard and Visa alongside the country's main interbank payment systems into the hands of a new Payment Systems Regulator (PSR), whose chief remit is to inject more competition into the country's payments industry.

Mobile & online

Kotak Mahindra taps India's Immediate Payment Service to offer Facebook transfers

14 October 2014  |  3275 views  |  4

India's Kotak Mahindra Bank (KMB) has launched a bank agnostic mobile money transfer service for Facebook friends.

Payments

Bank-owned ConCardis invests in German iPad POS firm orderbird

14 October 2014  |  2497 views  |  0

ConCardis, a cashless payments outfit owned by a group of German banks, has led a $10 million series b funding round in iPad point-of-sales firm orderbird.

Retail banking

Japanese messaging outfit Line moves into payments

13 October 2014  |  3139 views  |  0

Japanese messaging giant Line has become the latest social media player to enter the payments market, unveiling a service for both online and in-store transactions.

Cards

Kmart joins retailer hall of infamy following eftpos hack

13 October 2014  |  2805 views  |  0

US discount chain Kmart has become the latest big ticket retailer to fall victim to a POS malware breach at its bricks and mortar stores.

Payments

Visa to bring card linked offers to Europe

13 October 2014  |  4463 views  |  2

Visa Europe is to move into the card linked offers business through a partnership with US-based Edo Interactive.

Cards

Cuscal to acquire Strategic Payments Services

13 October 2014  |  2551 views  |  0

Australia's Cuscal is to acquire Strategic Payments Services, a payment processing joint venture launched by Bendigo Bank and MasterCard in 2006, as it strives to carve out a position in the emerging mobile and digital payments market.

Retail banking

Russian faces further counts in POS hacking case

10 October 2014  |  5017 views  |  0

A Russian man accused of hacking into point-of-sale terminals and selling stolen card data on online forums has had a batch of new charges thrown at him ahead of his trial in a US court next month.

Payments

Icahn bullish on Apple Pay prospects

10 October 2014  |  3532 views  |  2

Apple Pay is likely to prove a money spinner, generating revenues of $2.5 billion in 2017 in the US alone, predicts activist investor Carl Icahn.

Retail banking

BBVA opens API to developers for global hackathon

10 October 2014  |  4615 views  |  0

BBVA is to share a EUR60,000 pot with developers who can augment bank API data from card transactions in Mexico with external resources to create innovative new financial applications.

Payments

NZ mobile wallet venture preps for launch

10 October 2014  |  4430 views  |  0

New Zealand banks ASB and BNZ are to participate in live pilot trials of a new national mobile wallet developed by NFS NZ, a joint venture company established by the country's leading mobile networks and bank-owned eftpos firm Paymark.

Retail banking

Digital beer mats driving customers to drink

10 October 2014  |  5296 views  |  0

NFC chip marketing firm Tamoco has partnered with Carlsberg and Uber on a range of 'digital beer mats' that will ply you with free drinks and then order a taxi to take you home.

Start ups

CME venture fund finds value in big data

10 October 2014  |  3770 views  |  0

Liquidity Ventures, the strategic tech innovation fund set up by the Chicago Mercantile Exchange, has completed its fourth transaction this year with an investment in big data company Powerlytics.

Mobile & online

Accenture brings Fintech Innovation Lab to Dublin

09 October 2014  |  6515 views  |  0

Accenture's Fintech Innovation Lab is landing in Ireland, with banking and tech giants throwing their weight behind the Dublin-based accelerator programme.

Payments

UK card transactions top one billion a month for first time

09 October 2014  |  5824 views  |  1

The pound in our pocket is increasingly being displaced by the plastic in our wallet says the UK Cards Association, with new figures showing that the number of debit and credit card transactions made in a single month passed one billion for the first time in August.

Retail banking

CaixaBank to distribute contactless wristbands through branch network

09 October 2014  |  6790 views  |  0

CaixaBank is to distribute contactless wristbands from all of its branches after issuing its first batch of the wearable payments technology to select customers over the summer months.

Retail banking

NAB writes off $297m in under-performing software

09 October 2014  |  3682 views  |  0

National Australia Bank is to write down $297 million in software expenses as the promised benefits of some deployments failed to materialise amid rising costs.

Retail banking

Remittance costs in the spotlight as values grow

09 October 2014  |  3665 views  |  3

A World Bank report puts the global amount of remittances in 2014 at $582 billion and estimates that migrants paid an average of 7.9% in fees on these money transfers.

Retail banking

Pay-by-fridge: Canadians ready for mobile money and more

08 October 2014  |  5552 views  |  0

Forget mobile payments, many Canadians are ready to shop through their internet-enabled fridges and chips implanted in their fingers.

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