20 October 2014

Latest News

Security

Obama signs chip and PIN executive order

17 October 2014  |  8227 views  |  4

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.

Retail banking

Crook dumps Target card details on Russian forum

17 October 2014  |  2761 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  |  3561 views  |  1

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.

Mobile & online

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

17 October 2014  |  2998 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.

Retail banking

MasterCard looks to bust contactless transaction limits with fingerprint cards

17 October 2014  |  7071 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  |  2840 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.

Cards

Chicago transport system gets mobile ticketing app

17 October 2014  |  2491 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  |  7050 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.

Retail banking

EPC calls for candidates to join Sepa scheme management bodies

16 October 2014  |  1948 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.

Post-trade & ops

DTCC to oversee US market shift to T+2

16 October 2014  |  3067 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  |  6018 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.

Retail banking

CBA launches Innovation Lab

16 October 2014  |  2131 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  |  2146 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  |  4093 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.

Retail banking

W3C standards body looks to improve web payments

15 October 2014  |  3011 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  |  2383 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.

Wholesale banking

Lawsky bows to BitLicense backlash

15 October 2014  |  2033 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.

Payments

Banco do Brasil taps Earthport for multi-currency pre-paid card transfers

15 October 2014  |  2132 views  |  0

Earthport has extended its funds transfer network into the pre-paid card market through a deployment at Banco do Brasil.

Mobile & online

Your cash will be there in a 'Jiffy': SIA launches mobile money service

15 October 2014  |  7737 views  |  1

Italian payment processor SIA has launched a Sepa-compliant mobile money transfer service which lets users send and receive money in real time on their smartphone to and from their phone contacts.

Payments

Smartwatches face challenges as payment devices

15 October 2014  |  4002 views  |  0

Just one-in-three consumers would be interested in using a smartwatch for payments, with fitness tracking, online ID and travel ticketing viewed as more attractive features, according to a survey of 5000 people across five countries by GfK.

Payments

Digital investments top priority for retail banks - BAI

15 October 2014  |  4545 views  |  0

Online and mobile platforms are the leading focus of technology investments for retail banks as they move to increase the functionality of their digital offerings, according to a BAI survey.

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