21 November 2014

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Investment management and services group BNY Mellon has set up an innovation centre in Silicon Valley as it seeks to harness the power of big data, cloud computing and the Internet of Things.

South Korean Web giant Daum Kakao has teamed up with 16 banks to launch a mobile wallet service for online, offline and person-to-person payments.

Woman with shopping bag

Snapchat partners Square on P2P payments

17 November 2014  |  1

Snapchat has teamed up with Square to enable users to send each other money through the Photo sharing app.

Despite the fanfare that accompanied Apple Pay's launch, less than a third of Americans would consider obtaining a mobile wallet app from the iPhone maker, while more than two thirds would take a bank's offering, according to a survey from Phoenix Marketing International.

The war of words between retailers and banks over cyber-security failures has moved to the political stage, as lobby groups for both parties petition the political elite on Capitol Hill for legislative action to curb future data breaches.

MasterCard says a forthcoming wholesale upgrade of the 3DSecure protocol for authenticating online transactions will pave the way for the introduction of more secure biometric and token-based prompts and the ultimate eradication of static passwords.

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