23 October 2014

Latest News

Cards

MasterCard offers free WiFi to cardholders visiting the UK

4 hours ago  |  1077 views  |  0

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

Start ups

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

8 hours ago  |  1091 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

Payments sector dominates booming fintech M&A activity

11 hours ago  |  1982 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.

Mobile & online

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

16 hours ago  |  7528 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.

Mobile & online

Android malware mutations on the rise

16 hours ago  |  1967 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.

Payments

Sign2Pay introduces signature-based mobile commerce payments

21 October 2014  |  2977 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.

Security

Staples investigates data breach; Moscow cleared of JPMorgan hack

21 October 2014  |  3302 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.

Retail banking

Government rounds on Bank of England following Chaps breakdown

21 October 2014  |  9638 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.

Retail banking

Infocomm opens London office; invests in Startupbootcamp

21 October 2014  |  1432 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.

Retail banking

Apple Pay launches

20 October 2014  |  4941 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.

Virtual currency

Visa veterans raise $14.5m for bitcoin processing platform

20 October 2014  |  3779 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.

Retail banking

RBS preps P2P lending platform - FT

20 October 2014  |  4015 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.

Wholesale banking

UK's high value payment system Chaps goes down

20 October 2014  |  5676 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.

Virtual currency

Coinfloor to expand trading to wider range of currencies

20 October 2014  |  2744 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.

Retail banking

Westpac rolls out PayTag contactless stickers

20 October 2014  |  2286 views  |  0

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

Payments

Obama signs chip and PIN executive order

17 October 2014  |  11361 views  |  8

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.

Payments

Crook dumps Target card details on Russian forum

17 October 2014  |  3828 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.

Cards

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

17 October 2014  |  4998 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  |  3836 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.

Retail banking

MasterCard looks to bust contactless transaction limits with fingerprint cards

17 October 2014  |  8928 views  |  5

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

Post-trade & ops

First Derivatives to take controlling interest in Kx Systems

17 October 2014  |  3849 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.

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