20 April 2014

Latest News

Payments

Wal-Mart sues Visa over card fees

27 March 2014  |  3985 views  |  2

Wal-Mart has filed a lawsuit against Visa, accusing the card giant of engaging with some of the nation's largest banks to illegally fix interchange fees for merchants.

Wholesale banking

Estimize raises $1.2m; unveils crowdfunded M&A predictions platform

27 March 2014  |  1439 views  |  0

Estimize, a US start-up that pools members' forecasts for earnings results at listed companies, has raised $1.2 million in funding and launched a crowdsourced mergers and acquisitions predictions platform.

Wholesale banking

Former Swift CEO Schrank joins Circle funding round

26 March 2014  |  2636 views  |  1

Digital currency start-up Circle Internet Financial has closed a $17 million funding round, including an investment from former Swift chief executive Leonard Schrank.

Wholesale banking

London enjoys fintech investment boom

26 March 2014  |  4121 views  |  0

The UK and Ireland has emerged as the world's fastest growing region for financial technology investment over the last five years as London establishes itself as the fintech capital of Europe.

Security

PCI security vendor Trustwave named in Target breach suit

26 March 2014  |  3493 views  |  0

PCI security vendor Trustwave has been accused of failing to detect vulnerabilities in Target's handling of credit card data ahead of last year's data breach, according to a law suit filed by Trustmark National Bank of New York and Green Bank of Houston.

Payments

US tax man says bitcoin is property, not currency

26 March 2014  |  1523 views  |  0

America's Internal Revenue Service (IRS) says that it will treat virtual currencies such as bitcoin as property, rather than currency, for tax purposes.

Cards

Bradesco and Claro to launch mobile wallet in Brazil

26 March 2014  |  2806 views  |  0

One of Brazil's largest banks, Bradesco is working with telco Claro to kick off a nationwide NFC-based mobile payments programme starting in Sao Paulo in the second half of the year.

Retail banking

£1m London tech startup competition ditched

26 March 2014  |  1924 views  |  4

A high-profile technology startup competition backed by London mayor Boris Johnson and promising a £1 million equity investment to the winner has been shelved.

Payments

Budding entrepreneurs push pre-paid cards to weed sellers

26 March 2014  |  2908 views  |  0

America's stoners will soon be able to pay for their cannabis using a special pre-paid debit card.

Retail banking

PaymentsNZ launches new standards for mobile payments

26 March 2014  |  2886 views  |  0

National payments umbrella organisation Payments New Zealand has launched new Mobile Device Rules and Standards designed to govern mobile payments system and protect businesses and consumers.

Retail banking

EBay urges shareholders to reject Icahn's PayPal spin-off plan

25 March 2014  |  1913 views  |  0

The eBay board has written to shareholders calling on them to vote against activist investor Carl Icahn's proposal to spin off PayPal.

Retail banking

Clydesdale and Yorkshire Banks to cut branch network; invest in Internet and mobile

25 March 2014  |  3566 views  |  0

Clydesdale and Yorkshire Banks are to close 28 bank branches and invest £45 million in "improving services" after experiencing a 30% drop in high street footfall over the past three years.

Payments

POS start-up Vend secures $20m funding

25 March 2014  |  2513 views  |  2

New Zealand-based online point-of-sale software vendor Vend has scored US$20 million in a funding round led by PayPal co-founder Peter Thiel's Valar Ventures and Square Peg Capital.

Trade execution

Thomson Reuters bids to ward off FX predators with new spot matching rules

25 March 2014  |  2466 views  |  0

Thomson Reuters is proposing changes to spot matching rules on its FX trading platform in an effort to ward off 'phantom pricing' tactics deployed by high-speed trading firms.

Payments

MasterCard joins £109m Monitise share-placing

25 March 2014  |  4188 views  |  0

Monitise has raised around £109 million in a share-placing which sees MasterCard take a minority stake in the mobile money firm.

Payments

Tungsten seeks approval for bank buy-out

25 March 2014  |  1606 views  |  0

Invoice financing roll-up Tungsten says it expects to take full control of the UK arm of First International Bank of Israel (Fibi) within the next two months, after formally submitting an application for change of control to the UK's Prudential Regulation Authority and the Financial Conduct Authority.

Post-trade & ops

Swift: The Future of Financial Standards - Live Blog

25 March 2014  |  4789 views  |  0

Welcome to Finextra's live blog from Swift's Standards Forum event at Level 39 in Canary Wharf, UK. Brought to you by The Swift Institute, the Forum and the London School of Economics (LSE) and Political Science the conference is entitled 'The Future of Financial Standards'.

Retail banking

Diebold FCU pilots mobile-only, cardless ATM

24 March 2014  |  2280 views  |  0

Diebold Federal Credit Union is piloting an ATM without a card reader or PIN pad that relies solely on mobile authentication

Retail banking

Fraudsters don fake uniforms to con wealthy bank customers

24 March 2014  |  2348 views  |  1

Crooks dressed in fake uniforms are turning up on the doorsteps of wealthy C Hoare & Co clients and duping them into handing over financial data that can be used to empty their accounts.

Security

California DMV probes card data breach

24 March 2014  |  1950 views  |  0

The Californian Department of Motor Vehicles is investigating a potential security breach within its credit card processing services.

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