21 October 2014

Latest News

Retail banking

Cuscal to acquire Strategic Payments Services

13 October 2014  |  2511 views  |  0

Australia's Cuscal is to acquire Strategic Payments Services, a payment processing joint venture launched by Bendigo Bank and MasterCard in 2006, as it strives to carve out a position in the emerging mobile and digital payments market.

Security

Russian faces further counts in POS hacking case

10 October 2014  |  4985 views  |  0

A Russian man accused of hacking into point-of-sale terminals and selling stolen card data on online forums has had a batch of new charges thrown at him ahead of his trial in a US court next month.

Payments

Icahn bullish on Apple Pay prospects

10 October 2014  |  3510 views  |  2

Apple Pay is likely to prove a money spinner, generating revenues of $2.5 billion in 2017 in the US alone, predicts activist investor Carl Icahn.

Retail banking

BBVA opens API to developers for global hackathon

10 October 2014  |  4513 views  |  0

BBVA is to share a EUR60,000 pot with developers who can augment bank API data from card transactions in Mexico with external resources to create innovative new financial applications.

Cards

NZ mobile wallet venture preps for launch

10 October 2014  |  4398 views  |  0

New Zealand banks ASB and BNZ are to participate in live pilot trials of a new national mobile wallet developed by NFS NZ, a joint venture company established by the country's leading mobile networks and bank-owned eftpos firm Paymark.

Mobile & online

Digital beer mats driving customers to drink

10 October 2014  |  5252 views  |  0

NFC chip marketing firm Tamoco has partnered with Carlsberg and Uber on a range of 'digital beer mats' that will ply you with free drinks and then order a taxi to take you home.

Retail banking

CME venture fund finds value in big data

10 October 2014  |  3732 views  |  0

Liquidity Ventures, the strategic tech innovation fund set up by the Chicago Mercantile Exchange, has completed its fourth transaction this year with an investment in big data company Powerlytics.

Start ups

Accenture brings Fintech Innovation Lab to Dublin

09 October 2014  |  6436 views  |  0

Accenture's Fintech Innovation Lab is landing in Ireland, with banking and tech giants throwing their weight behind the Dublin-based accelerator programme.

Retail banking

UK card transactions top one billion a month for first time

09 October 2014  |  5710 views  |  1

The pound in our pocket is increasingly being displaced by the plastic in our wallet says the UK Cards Association, with new figures showing that the number of debit and credit card transactions made in a single month passed one billion for the first time in August.

Mobile & online

CaixaBank to distribute contactless wristbands through branch network

09 October 2014  |  6692 views  |  0

CaixaBank is to distribute contactless wristbands from all of its branches after issuing its first batch of the wearable payments technology to select customers over the summer months.

Wholesale banking

NAB writes off $297m in under-performing software

09 October 2014  |  3654 views  |  0

National Australia Bank is to write down $297 million in software expenses as the promised benefits of some deployments failed to materialise amid rising costs.

Retail banking

Remittance costs in the spotlight as values grow

09 October 2014  |  3646 views  |  3

A World Bank report puts the global amount of remittances in 2014 at $582 billion and estimates that migrants paid an average of 7.9% in fees on these money transfers.

Retail banking

Pay-by-fridge: Canadians ready for mobile money and more

08 October 2014  |  5490 views  |  0

Forget mobile payments, many Canadians are ready to shop through their internet-enabled fridges and chips implanted in their fingers.

Trade execution

HFT dealing turns sour for Thomson Reuters as Bloomberg takes on consumer confidence data

08 October 2014  |  4373 views  |  0

An agreement by the University of Michigan to distribute its market moving consumer confidence survey via Bloomberg terminals, rather than exclusively through Thomson Reuters, has been applauded by the New York Attorney General as a victory in his prolonged battle against high frequency trading.

Payments

Nationwide bargains on discount voucher app

08 October 2014  |  3779 views  |  0

Nationwide Building Society is looking to tap into Brits' love of a bargain with a new mobile app offering discounts from local and national retail brands.

Payments

Mobile payment network Zapp wins big-ticket retailer support

08 October 2014  |  6005 views  |  1

VocaLink-backed mobile payment venture Zapp claims to have won the the largest coalition of retailer support for a new payment method ever announced in the UK, as leading brands representing a customer base of some 35 million people sign up ahead of a projected 2015 launch.

Start ups

Sydney eyes fintech hub status

08 October 2014  |  3230 views  |  1

A new report has called on the Australian government to provide more support for the startup ecosystem in Sydney, contending the Australian capital has the potential to become an Asia/Pacific fintech hub, mirroring developments in London and New York.

Cards

Crooks use malware to empty cash machines

07 October 2014  |  6339 views  |  1

Criminals are using malware to clean out cash machines around the world, stealing millions of dollars without having to insert a credit card.

Mobile & online

Equity Bank to take on M-Pesa with Thin SIM technology

07 October 2014  |  4359 views  |  0

Kenya's Equity bank is looking to take on M-Pesa with the release of an ultra-thin smart SIM that users can apply to access the bank's mobile money service without needing to use dual-SIM phones.

Trade execution

Overstock hires developers to create crypto-securities exchange

07 October 2014  |  2987 views  |  0

Online retailer Overstock has hired developers who worked on the P2P decentralised exchange Counterparty to build a marketplace for corporate stocks issued as 'cryptosecurities'.

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