Visa is to provide bank card issuers with an API to enable customers to set spending controls, receive transaction alerts and temporarily suspend their accounts with an on/off feature.
EBA Clearing has signed a letter of intent with Italian ACH SIA to develop a pan-European real-time payment system by the fourth quarter of 2017.
The ability to transfer funds using just a mobile phone number is growing in popularity in the UK, as national P2P service Paym reports a near-doubling in transaction volumes over the past six months.
UK banking startup Tandem is taking a 'pay-as-you-grow' approach to its technology backbone, selecting Fiserv's on-demand Agiliti platform to provide the core infrastructure for its forthcoming launch.
A Russian hacking group is infecting bank IT systems with malware that lets it hide fraudulent ATM transactions by automatically rolling back the withdrawals so that balances appear unchanged.
The UK government has thrown its weight behind a report calling for the creation of an open banking standard that makes it easy to share and use financial data, arguing that the move would improve choice for customers, promote competition and stimulate innovation.
Web giants Alibaba, Tencent and Baidu have been fighting it out to win the Chinese New Year red envelopes battle, enticing hundreds of millions of people to take the practice of gifting cash digital.
Peter Sands, former chief executive of Standard Chartered Bank in the UK has called for the elimination of high denomination bank notes, including the $100 bill and £50 note, in order to crack down on illicit cash flows.
American cloud-based data supplier Xignite is setting its sights on the Asian market after raising $20.5 million in a Series C funding round led by a unit of Japan's biggest financial information provider, Nikkei.
Switzerland's potential as a European fintech hub is being damaged by lack of Government and bank support and a shortage of investment capital, according to a new report by Ernst & Young and Swiss Finance + Technology Association.
© Finextra Research 2016