25 October 2014

Latest transaction banking news

Standard Bank deploys IBM's Watson to crunch customer data

14 hours ago  |  1808 views  |  0

Standard Bank of South Africa has become the latest financial institution to enlist IBM's Watson cognitive computing platform to help it make the most of customer data.

MasterCard raises the stakes for Money20/20 hackathon

19 hours ago  |  2231 views  |  0

MasterCard has raised the stakes for developers participating in the Money20/20 hackathon by chucking in a VIP Las Vegas experience and six-month access to its Startpath incubator programme for the winning team.

RBA warns Australian banks not to backtrack on payments modernisation

24 October 2014  |  6431 views  |  1

The Reserve Bank of Australia has warned that it will be "duty bound" to use its regulatory powers should the nation's banks fail to deliver on promises to modernise the country's payments infrastructure.

MIT scientist develops algo to predict bitcoin price

23 October 2014  |  2043 views  |  0

Bitcoin's notoriously volatile price may look like it bounces around arbitrarily but an MIT computer scientist has developed a machine-learning algorithm that appears to have found a pattern in the mayhem, helping him to nearly double his investment in less than two months.

Etsy moves offline with mPOS play

23 October 2014  |  2403 views  |  0

E-commerce marketplace Etsy is setting its sights on the real world, entering the crowded mPOS market with its own app and card reader combo.

MasterCard invests in Mozido

23 October 2014  |  2609 views  |  0

US mobile payment outfit Mozido has completed the first phase of a $400 million funding round with support from MasterCard as it looks to expand its geographical footprint through a series of strategic acquisitions.

Rotten Apple? BofA duplicates Apple Pay transactions

23 October 2014  |  2386 views  |  5

Early reports of a clumsy interface between thumbprint, iPhone and eftpos terminal and an unfortunate case of double-charging by Bank of America has taken the shine off what at first appeared to be a relatively trouble-free introduction of Apple's new mobile payment service.

The Clearing House wakes up to real-time payments

23 October 2014  |  3717 views  |  2

US bank-backed ACH The Clearing House is to undertake a multi-year effort to build a new real-time processing platform, as the country finally begins to get to grips with its antiquated payment systems.

MasterCard offers free WiFi to cardholders visiting the UK

23 October 2014  |  4556 views  |  6

MasterCard has partnered with BSkyB-owned The Cloud to offer cardholders visiting Britain free access to more than 22,000 WiFi hotspots.

Ex-Pimco boss El-Erian invests in P2P lender Payoff

22 October 2014  |  2081 views  |  0

Former Pimco chief executive Mohamed El-Erian has become the latest big name from the world of traditional financial services to take an interest in P2P lending, making an investment in US outfit Payoff.

Payments sector dominates booming fintech M&A activity

22 October 2014  |  3907 views  |  0

The value of fintech-related mergers and acquisitions hit $10 billion in the last three months, with deals involving payments firms dominating, data from investment bank Berkery Noyes shows.

Nordea to take EUR344 million IT charge as core platforms are upgraded

22 October 2014  |  10976 views  |  0

Nordea Bank is to take a EUR344 million impairment charge on its current IT systems as it embarks on a major project to rip and replace its core banking and payments platforms.

Android malware mutations on the rise

22 October 2014  |  3430 views  |  0

The incidence of mobile malware assaults by banking trojans may be overstated, but mutations in attack vectors are growing at an alarming rate, according to a report by Kaspersky Lab and Interpol.

Sign2Pay introduces signature-based mobile commerce payments

21 October 2014  |  3659 views  |  0

European startup Sign2Pay is hoping to crack the abandoned mobile commerce checkout conundrum with technology that lets customers complete purchases by signing their names on their phones' screens.

Staples investigates data breach; Moscow cleared of JPMorgan hack

21 October 2014  |  4143 views  |  1

Office supply retailer Staples has become the latest firm to reveal that it is investigating a possible data breach that could leave customer payment card details at risk.

Government rounds on Bank of England following Chaps breakdown

21 October 2014  |  10204 views  |  5

The Bank of England is coming under intense political pressure to provide a more detailed explanation of the ten-hour breakdown in the operation of the UK's high value payments system, Chaps, on Monday.

Infocomm opens London office; invests in Startupbootcamp

21 October 2014  |  1821 views  |  0

Singapore's Infocomm Investments is looking to tap into London's booming fintech scene with the opening of a new office in the capital and an undisclosed investment in accelerator Startupbootcamp FinTech.

Apple Pay launches

20 October 2014  |  5251 views  |  1

Apple Pay enjoyed a relatively smooth launch in the US today, with customers of some of the country's biggest banks able to use their iPhones to make purchases at a host of bricks-and-mortar and virtual stores.

Visa veterans raise $14.5m for bitcoin processing platform

20 October 2014  |  4194 views  |  0

Bitnet, a bitcoin payments processor targeting large merchants that was set up earlier this year by a gaggle of Visa and CyberSource veterans, has raised $14.5 million in a series a funding round led by Highland Capital Partners.

RBS preps P2P lending platform - FT

20 October 2014  |  4454 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  |  6074 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.

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