22 August 2014

Latest News

Mobile & online

EBay ponders PayPal spin-off - report

5 hours ago  |  1427 views  |  0

Shares in eBay rose nearly five per cent yesterday afternoon off the back of a media report that the online auction house could spin off its PayPal unit as early as next year.

Mobile & online

St George preps fingerprint login for iPhone app

6 hours ago  |  1394 views  |  0

Australia's St George Bank will soon let iPhone-owning mobile customers log into their accounts with only a fingerprint.

Retail banking

ATM spy camera fraudsters jailed

6 hours ago  |  1259 views  |  1

Members of a gang which used ATM spy cameras and skimmers to steal the card details of 36,000 people across the UK have been jailed.

Payments

Cash is a pain in the ass: Blackpool donkey goes contactless

16 hours ago  |  3179 views  |  0

Blackpool's famous donkeys have made London's tube network look like an ass by beating it to the contactless payments punch.

Transaction banking

ECB fingers systemically important payment systems for oversight

21 August 2014  |  2828 views  |  0

The European Central Bank has named four key payment systems - Target2, Euro1, Step2-T and Core(Fr) - as "systemically important", and so subject to new regulations.

Cards

Google's Aussie chief rejects Wallet for 'more exciting' things

21 August 2014  |  3271 views  |  0

Google Wallet is not coming to Australia anytime soon, with the company's boss in the country declaring she has "more exciting" things to concentrate on.

Wholesale banking

RBS settles loan software copyright suit

21 August 2014  |  1525 views  |  0

The Royal Bank of Scotland has reached a settlement that lets it use critical trade finance software from vendor Complex Systems that a US judge had banned it from over copyright infringement.

Security

UPS becomes latest data breach victim

21 August 2014  |  2899 views  |  1

Package delivery giant UPS has become the latest company to admit that customer payment card details may be at risk after it discovered malware at 51 of its US stores.

Security

Wells Fargo to invest in fintech startups through accelerator

20 August 2014  |  5523 views  |  0

Wells Fargo has become the latest bank to launch an accelerator programme, promising mentoring and hard cash to selected fintech startups.

Mobile & online

As Equity Bank preps rival, Safaricom slashes M-Pesa fees

20 August 2014  |  2522 views  |  1

Kenyan telco Safaricom is slashing its transaction fees for low value person-to-person payments made using its wildly popular M-Pesa mobile money service.

Security

Credit Karma settles with FTC over app security failings

20 August 2014  |  2151 views  |  1

Credit and financial management service Credit Karma has been ordered to beef up its security after a US watchdog found that its mobile app left users' sensitive personal information vulnerable.

Payments

PayPal taps Venmo for one-touch in-app payments

20 August 2014  |  2913 views  |  0

PayPal has taken advantage of technology from its Braintree unit to build a system which lets mobile shoppers make in-app purchases with a single touch.

Payments

Square scores investment to extend cash advance service

19 August 2014  |  3170 views  |  0

Square is ramping up its small business financing programme after securing investment from Victory Park Capital.

Retail banking

UK banks introduces 'retry' system to tackle bounced payment fees

19 August 2014  |  3469 views  |  0

The UK banking industry has introduced a 'retry' process that will give customers a second chance to avoid bounced payments and their associated charges.

Wholesale banking

PwC fined $25m for whitewashing bank's sanctions violations

19 August 2014  |  2912 views  |  0

PricewaterhouseCoopers has been fined $25 million by New York State's financial watchdog after it sanitised a report for regulators into anti-money laundering at Bank of Tokyo-Mitsubishi UFJ (BTMU).

Wholesale banking

Deutsche Bank hires Goldman and RBS IT execs

19 August 2014  |  3511 views  |  0

Deutsche Bank has raided Goldman Sachs and Royal Bank of Scotland to bring in two senior technology and operations executives.

Trade execution

Finra charges Wedbush Securities with market access violations

18 August 2014  |  2145 views  |  0

Wall Street regulator Finra has charged brokerage Wedbush Securities with systemic market access violations and anti-money laundering and supervisory failures.

Payments

Liberty Reserve manager pleads guilty to money laundering

18 August 2014  |  2531 views  |  0

A manager at Liberty Reserve, a digital currency outfit described by authorities as the criminal underworld's "bank of choice", has pleaded guilty to money laundering charges.

Payments

BBVA unveils European startup contest finalists

18 August 2014  |  5888 views  |  0

Spanish bank BBVA has named the 20 finalists for the European leg of its startup competition, whittling down the chosen few from more than 400 entrants.

Retail banking

Braintree could soon accept bitcoin

15 August 2014  |  5527 views  |  0

EBay is preparing to integrate bitcoin into its Braintree payments service, according to the Wall Street Journal, giving the crypto-currency a firm nudge into the mainstream.

Payments

Square gets defensive about 'totally bogus' myths

15 August 2014  |  5169 views  |  0

With Amazon threatening to eat its lunch and rumours swirling about a lack of strategy and profits, Square has gone on the defensive with a blog post explaining why "myths" about Jack Dorsey's baby are "totally bogus".

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