24 October 2014

Latest News

Retail banking

RBA warns Australian banks not to backtrack on payments modernisation

9 hours ago  |  1635 views  |  0

The Reserve Bank of Australia has warned that it will be "duty bound" to use its regulatory powers if the nation's banks fail to deliver on promises to modernise the country's payments infrastructure.

Virtual currency

MIT scientist develops algo to predict bitcoin price

14 hours ago  |  1277 views  |  0

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.


Etsy moves offline with mPOS play

17 hours ago  |  1745 views  |  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.


MasterCard invests in Mozido

22 hours ago  |  2104 views  |  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.

Retail banking

Rotten Apple? BofA duplicates Apple Pay transactions

22 hours ago  |  1766 views  |  5

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.

Retail banking

The Clearing House wakes up to real-time payments

23 hours ago  |  3126 views  |  2

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 offers free WiFi to cardholders visiting the UK

23 October 2014  |  4051 views  |  6

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

Retail banking

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

22 October 2014  |  1881 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.

Retail banking

Payments sector dominates booming fintech M&A activity

22 October 2014  |  3624 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.

Wholesale banking

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

22 October 2014  |  10695 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

22 October 2014  |  3001 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.

Retail banking

Sign2Pay introduces signature-based mobile commerce payments

21 October 2014  |  3458 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.

Wholesale banking

Staples investigates data breach; Moscow cleared of JPMorgan hack

21 October 2014  |  3838 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  |  10045 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.

Wholesale banking

Infocomm opens London office; invests in Startupbootcamp

21 October 2014  |  1718 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.

Mobile & online

Apple Pay launches

20 October 2014  |  5127 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.

Mobile & online

Visa veterans raise $14.5m for bitcoin processing platform

20 October 2014  |  4055 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  |  4304 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  |  5912 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.

Wholesale banking

Coinfloor to expand trading to wider range of currencies

20 October 2014  |  3143 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.


Westpac rolls out PayTag contactless stickers

20 October 2014  |  2440 views  |  0

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

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