24 September 2014

Latest News

Retail banking

Nigerian bank falls victim to $40 million insider cyber-heist

15 September 2014  |  4773 views  |  3

Nigerian police are on the hunt for an IT staffer at Skye Bank who hacked into the bank's systems and transferred $40 million to a raft of bogus accounts before going on the run.

Retail banking

Blockstock bitcoin festival gets ready to rock

12 September 2014  |  5471 views  |  0

A ten-day festival promoting the use of bitcoin kicks off with a round of drinks at the Old Shoreditch Station pub in London on Friday evening.

Retail banking

UK earmarks £10k prize for £1 coin design contest

12 September 2014  |  2939 views  |  2

The UK Government is inviting the general public to enter a competition to design the 'tails' side of a new 12-sided £1 coin, which is set to go into circulation in 2017.

Security

JPMorgan yet to detect rise in fraud from recent cyber-attack

12 September 2014  |  4443 views  |  0

JPMorgan says it has not seen any unusual customer fraud related to a recent cyber-attack on the bank.

Mobile & online

Tink personal finance app raises $4 million

12 September 2014  |  4020 views  |  0

Swedish personal finance app outfit Tink has raised $4 million in Series A funding to expand internationally and recruit new staff.

Mobile & online

BBVA to invest $1.2 billion to become South America's leading digital bank

12 September 2014  |  7253 views  |  4

Spain's BBVA is to invest $1.2 billion on technology projects in South America over the next two years as it looks to grow the number of customers using digital and mobile channels to access the bank.

Payments

Bank of England takes a closer look at bitcoin potential

11 September 2014  |  5552 views  |  0

Digital currencies do not currently pose a material risk to monetary or financial stability in the United Kingdom, says the Bank of England, but the underlying technology does have the potential to transform the financial system more generally.

Retail banking

UK bank switch used by over one million customers in first year

11 September 2014  |  3372 views  |  1

Over one million people have used the UK's Current Account Switch Service to move banks since the scheme was introduced less than a year ago, heralding a new era for competition in the banking industry declares the Payments Council.

Payments

MasterCard loses EU appeal over cross-border interchange fees

11 September 2014  |  6055 views  |  13

MasterCard has lost a seven-year battle with the European Commission over the validity of its interchange fees for cross-border card payments, following a decisive judgement at the EU's highest court.

Security

Bitcoin ATM network introduces palm vein authentication

11 September 2014  |  5281 views  |  0

Bitcoin ATM manufacturer Robocoin is to use PalmSecure biometric technology from Fujitu to strengthen authentication in its worldwide network of kiosks.

Wholesale banking

Sabadell opens API to developers in first hackathon

10 September 2014  |  4414 views  |  1

Spain's Banco Sabadell is hosting its first hackathon, providing competing teams of developers with open access to its bank service API to generate fresh ideas and innovative financial applications.

Security

Visa begins tokenisation roll out

10 September 2014  |  7696 views  |  9

Visa has taken advantage of the hoopla surrounding Apple's application of digital account tokens to replace card numbers for online and mobile purchasing by initiating the roll out of its Token Service to US clients.

Mobile & online

MasterCard forces merchant POS upgrade to contactless as standard

10 September 2014  |  8048 views  |  7

MasterCard has set a six-year timescale for all European merchants to replace their existing point-of-sale terminals with contactless-enabled tills by 2020.

Retail banking

Surprise! Apple makes payments play

10 September 2014  |  9758 views  |  31

After weeks of rumour, hype and speculation, Apple has made its long-awaited entry into the payments business with a compelling mix of NFC technology, tokenisation, biometrics and must-have mobile form factors, including the new iPhone 6 and forthcoming Apple Watch.

Risk & regulation

Banks could make big T2S-related savings - research

09 September 2014  |  4206 views  |  0

Banks and brokers could save millions of euros if they act fast to adapt their securities and cash supply chains for Target2-Securities (T2S), according to Clearstream commissioned research.

Retail banking

Home Depot confirms data breach

09 September 2014  |  3907 views  |  0

Home improvement chain Home Depot has finally confirmed that its payment data systems have been breached, putting the card details of tens of millions of US and Canadian customers at risk.

Mobile & online

PayPal pips Apple with One Touch mobile and bitcoin payments

09 September 2014  |  6845 views  |  0

With the Apple juggernaut about to steamroller all other payments-related news, PayPal has pushed the innovation bar a little higher by announcing plans to enable 'One Touch' transactions on iOS and Android phones and adding support for bitcoin purchasing.

Retail banking

Twitter starts testing 'buy' button

08 September 2014  |  4149 views  |  0

Twitter has begun testing a 'buy' button that merchants can embed in tweets so that shoppers are able to make purchases from within the social network.

Retail banking

Barclaycard buys The Logic Group

08 September 2014  |  5715 views  |  0

Barclaycard is boosting its capabilities in the lucrative rewards market through the acquisition of payments and loyalty specialist The Logic Group. Financial terms have not been disclosed.

Retail banking

New Zealand's Heartland Bank invests in P2P lending platform

08 September 2014  |  2408 views  |  0

New Zealand's Heartland Bank has bought a 10% stake in local online peer-to-peer lending platform HarMoney. Financial terms were not disclosed.

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