30 October 2014

Latest News

Retail banking

RBS preps P2P lending platform - FT

20 October 2014  |  5186 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.


UK's high value payment system Chaps goes down

20 October 2014  |  6410 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.


Coinfloor to expand trading to wider range of currencies

20 October 2014  |  4351 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.


Westpac rolls out PayTag contactless stickers

20 October 2014  |  2679 views  |  0

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

Mobile & online

Obama signs chip and PIN executive order

17 October 2014  |  12770 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  |  4250 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.

Retail banking

Half of US POS terminals to accept chip cards by end of 2015

17 October 2014  |  5623 views  |  2

Nearly half of US merchant terminals will accept EMV chip card payments by the end of next year, according to a trade body set up to push the migration from magstripe plastic.

Retail banking

iZettle to promote mPOS through pop-up store in Central London

17 October 2014  |  4459 views  |  1

Six small businesses are to be given the opportunity to conduct a day's trading from a branded store front in South Molton Street, Central London, with the only stipulation that all transactions are conducted using mPOS technology from Swedish vendor iZettle.


MasterCard looks to bust contactless transaction limits with fingerprint cards

17 October 2014  |  9921 views  |  5

MasterCard has partnered with Norwegian firm Zwipe to launch a contactless payment card with built-in fingerprint sensor.

Wholesale banking

First Derivatives to take controlling interest in Kx Systems

17 October 2014  |  5064 views  |  0

First Derivatives has agreed a £36 million deal to acquire a further 46.47% stake in high performance database outfit Kx Systems, giving the firm a leg-up into the market for big data systems in capital markets and other vertical industries.


Chicago transport system gets mobile ticketing app

17 October 2014  |  3445 views  |  0

From early next year Chicagoans will be able to pay for their bus and train journeys through a mobile ticketing app, although NFC m-payments will not be an option until 2016.


Apple Pay to launch on Monday; banks rush to sign up

16 October 2014  |  8556 views  |  3

Apple Pay will launch in the US on Monday, enabling Americans to use their iPhones to make payments at the likes of Target, Uber, Groupon, and Starbucks.


EPC calls for candidates to join Sepa scheme management bodies

16 October 2014  |  2657 views  |  0

The European Payments Council (EPC) is calling for independent candidates to join a host of new bodies being set up to manage the Single euro payments area (Sepa) scheme.

Trade execution

DTCC to oversee US market shift to T+2

16 October 2014  |  4645 views  |  0

Within a week of European markets moving to a T+2 settlement cycle, the DTCC in the US has formed a steering committee and working group to oversee a similar shift for trades in equities, corporate and municipal bonds, and unit investment trusts (UITs).

Retail banking

Watch out banks, Alibaba is after your business

16 October 2014  |  7162 views  |  0

Chinese e-commerce giant Alibaba has folded six different businesses into a single business unit as part of a concerted push into the financial services industry.

Retail banking

CBA launches Innovation Lab

16 October 2014  |  2942 views  |  0

Commonwealth Bank of Australia has launched an Innovation Lab in the heart of Sydney's Central Business District with a view to developing cutting-edge products, and services in collaboration with customers, partners, start-ups and industry experts.

Retail banking

TD Bank slapped with $850,000 fine over 2012 data breach

16 October 2014  |  2544 views  |  0

TD Bank has agreed an $850,000 settlement with the Attorney General of New York over a data breach in 2012 that compromised the financial records of 260,000 customers nationwide.


Commercial Bank of Dubai opens 'Facebook branch'

16 October 2014  |  5064 views  |  2

Commercial Bank of Dubai (CBD) has introduced a 'Facebook branch', enabling customers to check their accounts and transfer funds from within the social network.

Virtual currency

W3C standards body looks to improve web payments

15 October 2014  |  3805 views  |  0

The World Wide Web standards organisation, W3C, is bringing together banks, retailers and tech firms in an effort to develop standards for payments on the open web.


Chase launches site for personalised rewards

15 October 2014  |  2967 views  |  0

With research showing that many Americans consider a strong rewards programme more important that interest rates when choosing which credit card to use, Chase has launched a new site promising to make its rewards more personalised.

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