20 April 2014

Latest News

Payments

Wal-Mart sues Visa over card fees

27 March 2014  |  3992 views  |  2

Wal-Mart has filed a lawsuit against Visa, accusing the card giant of engaging with some of the nation's largest banks to illegally fix interchange fees for merchants.

Wholesale banking

Estimize raises $1.2m; unveils crowdfunded M&A predictions platform

27 March 2014  |  1442 views  |  0

Estimize, a US start-up that pools members' forecasts for earnings results at listed companies, has raised $1.2 million in funding and launched a crowdsourced mergers and acquisitions predictions platform.

Payments

Former Swift CEO Schrank joins Circle funding round

26 March 2014  |  2642 views  |  1

Digital currency start-up Circle Internet Financial has closed a $17 million funding round, including an investment from former Swift chief executive Leonard Schrank.

Wholesale banking

London enjoys fintech investment boom

26 March 2014  |  4127 views  |  0

The UK and Ireland has emerged as the world's fastest growing region for financial technology investment over the last five years as London establishes itself as the fintech capital of Europe.

Retail banking

PCI security vendor Trustwave named in Target breach suit

26 March 2014  |  3503 views  |  0

PCI security vendor Trustwave has been accused of failing to detect vulnerabilities in Target's handling of credit card data ahead of last year's data breach, according to a law suit filed by Trustmark National Bank of New York and Green Bank of Houston.

Wholesale banking

US tax man says bitcoin is property, not currency

26 March 2014  |  1527 views  |  0

America's Internal Revenue Service (IRS) says that it will treat virtual currencies such as bitcoin as property, rather than currency, for tax purposes.

Retail banking

Bradesco and Claro to launch mobile wallet in Brazil

26 March 2014  |  2813 views  |  0

One of Brazil's largest banks, Bradesco is working with telco Claro to kick off a nationwide NFC-based mobile payments programme starting in Sao Paulo in the second half of the year.

Retail banking

£1m London tech startup competition ditched

26 March 2014  |  1928 views  |  4

A high-profile technology startup competition backed by London mayor Boris Johnson and promising a £1 million equity investment to the winner has been shelved.

Cards

Budding entrepreneurs push pre-paid cards to weed sellers

26 March 2014  |  2910 views  |  0

America's stoners will soon be able to pay for their cannabis using a special pre-paid debit card.

Mobile & online

PaymentsNZ launches new standards for mobile payments

26 March 2014  |  2889 views  |  0

National payments umbrella organisation Payments New Zealand has launched new Mobile Device Rules and Standards designed to govern mobile payments system and protect businesses and consumers.

Mobile & online

EBay urges shareholders to reject Icahn's PayPal spin-off plan

25 March 2014  |  1915 views  |  0

The eBay board has written to shareholders calling on them to vote against activist investor Carl Icahn's proposal to spin off PayPal.

Retail banking

Clydesdale and Yorkshire Banks to cut branch network; invest in Internet and mobile

25 March 2014  |  3570 views  |  0

Clydesdale and Yorkshire Banks are to close 28 bank branches and invest £45 million in "improving services" after experiencing a 30% drop in high street footfall over the past three years.

Cards

POS start-up Vend secures $20m funding

25 March 2014  |  2522 views  |  2

New Zealand-based online point-of-sale software vendor Vend has scored US$20 million in a funding round led by PayPal co-founder Peter Thiel's Valar Ventures and Square Peg Capital.

Trade execution

Thomson Reuters bids to ward off FX predators with new spot matching rules

25 March 2014  |  2470 views  |  0

Thomson Reuters is proposing changes to spot matching rules on its FX trading platform in an effort to ward off 'phantom pricing' tactics deployed by high-speed trading firms.

Mobile & online

MasterCard joins £109m Monitise share-placing

25 March 2014  |  4198 views  |  0

Monitise has raised around £109 million in a share-placing which sees MasterCard take a minority stake in the mobile money firm.

Transaction banking

Tungsten seeks approval for bank buy-out

25 March 2014  |  1616 views  |  0

Invoice financing roll-up Tungsten says it expects to take full control of the UK arm of First International Bank of Israel (Fibi) within the next two months, after formally submitting an application for change of control to the UK's Prudential Regulation Authority and the Financial Conduct Authority.

Wholesale banking

Swift: The Future of Financial Standards - Live Blog

25 March 2014  |  4811 views  |  0

Welcome to Finextra's live blog from Swift's Standards Forum event at Level 39 in Canary Wharf, UK. Brought to you by The Swift Institute, the Forum and the London School of Economics (LSE) and Political Science the conference is entitled 'The Future of Financial Standards'.

Retail banking

Diebold FCU pilots mobile-only, cardless ATM

24 March 2014  |  2284 views  |  0

Diebold Federal Credit Union is piloting an ATM without a card reader or PIN pad that relies solely on mobile authentication

Mobile & online

Fraudsters don fake uniforms to con wealthy bank customers

24 March 2014  |  2351 views  |  1

Crooks dressed in fake uniforms are turning up on the doorsteps of wealthy C Hoare & Co clients and duping them into handing over financial data that can be used to empty their accounts.

Payments

California DMV probes card data breach

24 March 2014  |  1952 views  |  0

The Californian Department of Motor Vehicles is investigating a potential security breach within its credit card processing services.

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