Latest Cards News: Finextra Research

American Express wins approval to enter Chinese payment card market

American Express has become the first foreign card scheme to win direct access to China's bank card market after winning approval for a clearing and settlement licence from the country's central bank.

09 November 2018

News/Cards

UK retailers win appeal court ruling over ATM charges

The UK's high street retailers have scored a major victory in a long-running case over the payment of business rates for ATM's installed at their stores.

09 November 2018

News/security

PNC pilots dynamic CVV2 tech to fight card-not-present fraud

PNC Bank's treasury management unit is trialling technology that guards against card-not-present fraud by automatically changing the three digit CVV code on the back of credit cards.

09 November 2018

News/Cards

Intesa Sanpaolo to test fingerprint cards

Intesa Sanpaolo is the latest to try its hand at fingerprint cards in a collaboration with Gemalto and Nordic startup Zwipe.

08 November 2018

News/security

'Almost all' Pakistani banks hit by hackers

Customer card data from nearly all of Pakistan's major banks has been stolen in a cyberattack, says the country's Federal Investigation Agency (FIA).

07 November 2018

News/payments

BofE launches cash vs cashless challenge

As part of a new open forum on the future of money, the Bank of England is challenging Brits to see if they can live for a week either using only cash or not using cash at all.

05 November 2018

News/Cards

Mastercard complains to US govt about Indian PM's RuPay promotion

Mastercard has complained to the US government about the behaviour of Indian prime minister Narendra Modi, claiming that he is using nationalism to push the country's domestic payments network, hurting foreign rivals, according to Reuters.

02 November 2018

News/Cards

Anna launches debit card that miaows

As any cat owner will testify, moggies are capable of making humans wither under their judgemental glare. Now, money management startup Anna is tapping into man's deep fear of his feline overlord with a debit card that miaows every time it is used.

02 November 2018

News/security

Hacking scam hits California ATMs

The US National ATM Council is warning cash machine operators of an emerging scam in which criminals re-programme the terminal to dispense notes even when a transaction is denied.

01 November 2018

News/payments

The revolution of money is in the hands of the consumer – a Money 20/20 round-up

For the seventh year running, Money 20/20 put on an impressive show in Las Vegas and welcomed thousands of innovators from the fintech and banking industries to learn about disruption and forge business connections.

01 November 2018

News/startups

South Africa's app-only Bank Zero gets license

Bank Zero, a digital-only South African bank co-founded by former FNB chief executive Michael Jordaan, has begun alpha testing its app after securing a mutual banking license.

01 November 2018

News/Cards

Hitachi and SBI form payments joint venture

Hitachi is moving into the merchant acquiring business, buying a 26% stake in SBI Payment Services in India.

29 October 2018

News/security

British Airways warns another 185,000 cards compromised by data breach

British Airways is warning that another 185,000 customers may have had their payment card details stolen in a data breach.

25 October 2018

News/Cards

Ride-hailing app Grab launches prepaid Mastercard

Southeast Asian ride-hailing app Grab is pushing further into payments through the launch of a prepaid Mastercard card.

25 October 2018

News/security

NAB and Microsoft test facial recognition for ATM withdrawals

National Australia Bank has teamed up with Microsoft on a proof-of-concept that taps AI to let customers make ATM withdrawals using facial recognition and a PIN.

24 October 2018

News/payments

Bank of Canada asks: Is a cashless society problematic?

If the long-predicted cashless society ever materialises it will be unlikely to cause material system-wide problems, according to a Bank of Canada paper, which nevertheless warns that options such as central bank digital currencies might be needed to tackle operational reliability and contestability issues.

23 October 2018

News/payments

QRails bags $7 million from prominent angel investors

Cloud-based payment processing startup QRails has secured $7 million in funding from a group of heavyweight angel investors, including Gary Hoffman, chairman of Hastings Insurance, former CEO of Barclaycard and board member at Visa, Jonathan Hughes, previously a senior executive at Worldpay, and Alan Morgan of Adfisco.

22 October 2018

News/security

SoGen tests biometric cards for limitless contactless payments

Societe Generale is trialling a payments card with a built in fingerprint reader that enables users to make contactless payments of any amount.

19 October 2018

News/Cards

Mastercard signs off on removal of card signature panel

Mastercard is embracing new modes of authentication across its network, introducing a voluntary programme for banks to eliminate the signature panel on physical plastic, and enabling token services on all cards by 2020 for shopping online.

18 October 2018

News/Cards

Payments revenue to hit $2.4 trillion by 2027

The payments industry remains one of the brightest spots on the financial services landscape, according to a report from the Boston Consulting Group (BCG) and Swift, which predicts global revenue to grow by more than $1 trillion by 2027.

18 October 2018