25 October 2014

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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.

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 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.

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.

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Cards

Etsy moves offline with mPOS play

23 October 2014  |  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.

Fingers on smartphone keypad
Retail banking

MasterCard invests in Mozido

23 October 2014  |  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.

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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.

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

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.

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