27 November 2014

Latest News

Cards

Skrill adds scale in pre-paid with plans to acquire Ukash

7 hours ago  |  2306 views  |  0

Skrill Group is to acquire Ukash, a UK-based electronic money system that allows users to exchange their cash for a secure code to make payments online.

Cards

Man goes on ATM rampage after machine rejects his card

9 hours ago  |  1720 views  |  1

In an uncontrollable fit of ATM rage, a Chinese man took a hammer to nine cash machines in the City of Guangzhou after his bank card was rejected.

Retail banking

Monitise gets £49.2 million boost from Santander, Telefonica and IBM

11 hours ago  |  4458 views  |  1

Santander, Telefonica and MasterCard are to invest £49.2 million in Monitise, providing a welcome boost to the London-based mobile money outfit after Visa decided to sell off its stake in the company.

Start ups

Clinkle entices students with vending machine full of free cash

26 November 2014  |  2752 views  |  0

Much derided mobile payments startup Clinkle has unveiled its customer acquisition strategy: bribing students with $20 bills from a vending machine stuffed with cash.

Cards

Discover fires lawsuit alleging anti-competitive practices at Visa

26 November 2014  |  2713 views  |  3

Discover has filed a lawsuit accusing rival card scheme Visa of anti-competitve practices in its debit card business.

Mobile & online

Retailers to beam offers to passengers travelling on Norwich buses

26 November 2014  |  2711 views  |  0

UK transport company FirstGroup has deployed bluetooth low energy beacons on buses in Norwich to deliver messages and discounts from local retailers to passenger smartphones as they travel through the city.

Payments

Danish telcos sell m-payments venture to bank-owned rival

26 November 2014  |  5031 views  |  0

Swipp, a mobile payments service owned by a consortium of Danish banks, has acquired Paii, a rival outfit formed by a group of telcos.

Cards

Twitter lets users add coupons to cards for in-store redemption

25 November 2014  |  2718 views  |  0

In its latest foray into the commerce sphere, Twitter is testing a feature that lets users add discounts from advertisers on the social network to their payment cards.

Mobile & online

Crédit Agricole joins French bank-run e-payments service

25 November 2014  |  3422 views  |  1

Paylib, a PayPal-style online payment system set up last year by French banks, is extending its reach thanks to the addition of Crédit Agricole as a member and a deal with MasterCard that will let people use the service abroad.

Retail banking

ING to cut 1700 staff and grow digital investment

25 November 2014  |  4011 views  |  2

Dutch bank ING is to cut 1700 jobs and spend EUR200 million to simplify and upgrade its IT systems over the next three years.

Wholesale banking

Neptune bids to FIX liquidity shortage in bond trading

25 November 2014  |  3094 views  |  0

The FIX trading community has agreed a set of best practices for use of the messaging protocol for the exchange of pre-trade information in the bond market, as banks and asset managers work together to overcome a liquidity shortage in fixed income trading.

Wholesale banking

NAB decommissions 37 legacy servers as it deploys new credit risk engine

25 November 2014  |  2657 views  |  0

NAB has decommissioned 37 legacy servers that supported its old credit risk engine, following the successful roll-out of a new analytics layer as part of the Australian bank’s NextGen programme.

Mobile & online

Startup taps Indiegogo for BLE-enabled wallet

24 November 2014  |  2946 views  |  0

Half of Silicon Valley may be bidding to make it a relic of the past, but the old fashioned leather wallet is getting a new lease of life through a high-tech makeover.

Retail banking

Man spends five hours locked in bank branch

24 November 2014  |  3880 views  |  3

A man spent nearly five hours trapped inside a bank branch yesterday after a technology failure locked the door on him.

Risk & regulation

Bank of England appoints Deloitte to probe Chaps breakdown

24 November 2014  |  4151 views  |  0

The Bank of England has appointed Deloitte to conduct an independent review of the ten-hour breakdown in the operation of the UK's high value payments system, Chaps, last month.

Trade execution

Goldman takes stake in data analytics platform Kensho

24 November 2014  |  5366 views  |  0

Goldman Sachs has led a $15 million investment round in Kensho, a startup that is seeking to supplant human equity analysts with intelligent big data mining bots.

Cards

Visa Inc frets over $10 billion price tag on European brand

24 November 2014  |  8625 views  |  0

Visa Inc says that it may have to find $10 billion to fund the acquisition of Visa Europe should European banks exercise their option to sell the business to its US counterpart.

Payments

RBS suffers another IT glitch

21 November 2014  |  7500 views  |  2

The day after it was fined £56 million over an IT meltdown, Royal Bank of Scotland has suffered a minor glitch which has seen some customers unable to use their credit and debit cards.

Payments

HSBC rolls out Paym for business customers

21 November 2014  |  7414 views  |  1

HSBC business customers can now take payments using just a mobile phone number, as the UK bank rolls out the Paym service for Business Internet Banking subscribers.

Retail banking

Contactless makes Oxford Dictionaries word of the year shortlist

21 November 2014  |  16036 views  |  0

After a breakout 12 months for tap and pay, 'contactless' has made Oxford Dictionaries' shortlist for international word of the year.

Start ups

Fintech angel network gears up for launch

21 November 2014  |  5709 views  |  0

Susanne Chisti, a former global project manager at Deutsche Bank, is to launch a new angel network focused solely on opportunities in the fintech sector.

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