25 October 2014

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

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.

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.

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.

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.

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.

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