20 October 2014

Latest News

Retail banking

RBS preps P2P lending platform - FT

45 minutes ago  |  371 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.

Payments

UK's high value payment system Chaps goes down

2 hours ago  |  2008 views  |  3

The Bank of England has suspended its real-time gross settlement system Chaps, while it investigates an unspecified technical glitch.

Trade execution

Coinfloor to expand trading to wider range of currencies

4 hours ago  |  973 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.

Mobile & online

Westpac rolls out PayTag contactless stickers

4 hours ago  |  895 views  |  0

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

Security

Obama signs chip and PIN executive order

17 October 2014  |  8941 views  |  6

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.

Security

Crook dumps Target card details on Russian forum

17 October 2014  |  2960 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.

Security

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

17 October 2014  |  4000 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.

Payments

iZettle to promote mPOS through pop-up store in Central London

17 October 2014  |  3314 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.

Cards

MasterCard looks to bust contactless transaction limits with fingerprint cards

17 October 2014  |  7540 views  |  4

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

Wholesale banking

First Derivatives to take controlling interest in Kx Systems

17 October 2014  |  3008 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.

Retail banking

Chicago transport system gets mobile ticketing app

17 October 2014  |  2661 views  |  0

From early next year Chicagoans will be able to pay for their bus and train journeys through a mobile ticketing app, although NFC m-payments will not be an option until 2016.

Security

Apple Pay to launch on Monday; banks rush to sign up

16 October 2014  |  7263 views  |  3

Apple Pay will launch in the US on Monday, enabling Americans to use their iPhones to make payments at the likes of Target, Uber, Groupon, and Starbucks.

Payments

EPC calls for candidates to join Sepa scheme management bodies

16 October 2014  |  2013 views  |  0

The European Payments Council (EPC) is calling for independent candidates to join a host of new bodies being set up to manage the Single euro payments area (Sepa) scheme.

Wholesale banking

DTCC to oversee US market shift to T+2

16 October 2014  |  3186 views  |  0

Within a week of European markets moving to a T+2 settlement cycle, the DTCC in the US has formed a steering committee and working group to oversee a similar shift for trades in equities, corporate and municipal bonds, and unit investment trusts (UITs).

Retail banking

Watch out banks, Alibaba is after your business

16 October 2014  |  6132 views  |  0

Chinese e-commerce giant Alibaba has folded six different businesses into a single business unit as part of a concerted push into the financial services industry.

Start ups

CBA launches Innovation Lab

16 October 2014  |  2214 views  |  0

Commonwealth Bank of Australia has launched an Innovation Lab in the heart of Sydney's Central Business District with a view to developing cutting-edge products, and services in collaboration with customers, partners, start-ups and industry experts.

Security

TD Bank slapped with $850,000 fine over 2012 data breach

16 October 2014  |  2187 views  |  0

TD Bank has agreed an $850,000 settlement with the Attorney General of New York over a data breach in 2012 that compromised the financial records of 260,000 customers nationwide.

Payments

Commercial Bank of Dubai opens 'Facebook branch'

16 October 2014  |  4196 views  |  2

Commercial Bank of Dubai (CBD) has introduced a 'Facebook branch', enabling customers to check their accounts and transfer funds from within the social network.

Security

W3C standards body looks to improve web payments

15 October 2014  |  3085 views  |  0

The World Wide Web standards organisation, W3C, is bringing together banks, retailers and tech firms in an effort to develop standards for payments on the open web.

Cards

Chase launches site for personalised rewards

15 October 2014  |  2428 views  |  0

With research showing that many Americans consider a strong rewards programme more important that interest rates when choosing which credit card to use, Chase has launched a new site promising to make its rewards more personalised.

Virtual currency

Lawsky bows to BitLicense backlash

15 October 2014  |  2065 views  |  0

Individual users, software developers and bitcoin miners will be exempt from new regulations being drawn up to regulate the crypto-currency markets by New York's State Department of Financial Services.

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