Latest Payments News: Finextra Research

OFT charged with cutting payments profiteering

UK banks could lose £1 billion in 'excess profits' on payment systems under new government proposals aimed at injecting fresh competition into the market for money transmission services.

22 December 2000

/payments

PayPal to issue MasterCard debit cards

Person-to-person payments operator PayPal is to issue a co-branded MasterCard debit card to enable customer spending at the point-of-sale and facilitate ATM cash withdrawals direct from PayPal accounts.

22 December 2000

/payments

Visa adds sound and vision to online payments

Visa is to bring sound and vision to the e-payments markets with the introduction of an animated logo and audible signal every time a Visa product is used in an online transaction.

22 December 2000

/payments

FDC's European expansion continues with Fexco stake

Atlanta-based First Data Corp. has acquired a 25% equity interest in Irish financial services and payments company Fexco. Financial terms of the transaction were not disclosed.

21 December 2000

/payments

CIBC first customer for VeriSign, iPlanet, Gemplus Identrus system

VeriSign, iPlanet and Gemplus are teaming up to provide Identrus-enabled digital certification services to banks. Canadian Imperial Bank of Commerce has been named as the first customer for the integrated solution.

21 December 2000

/payments

Banks unmoved by CLS says SunGard survey

Banks worldwide remain uncertain about the impact of continuous linked settlement on foreign exchange trading, with more than a third believing the risk reduction effort will inadvertently add new layers of complexity to back office operations.

20 December 2000

/payments

Bolero signs first insurance company

Japanese underwriting agency Tokio Marine has committed to use the Internet-based trade finance platform bolero.net as the "de facto" mechanism for issuing insurance certificates to customers.

18 December 2000

/payments

Heyde eyes payments with Gifts acquisition

European IT services group Heyde has acquired US-based payments systems company Gifts Software for an undisclosed sum.

18 December 2000

/payments

ACI targets trade finance payments market

ACI Worldwide has set its sights on the mushrooming market for online trade finance and payment related solutions with an agreement to distribute VistaTrade, a Web-based trade finance system developed by Xytec International.

15 December 2000

/payments

CyberCash acquires Network 1

CyberCash and Network 1 Financial are to merge in a move designed to deliver an integrated payment solution for both Internet and physical world merchants.

15 December 2000

/payments

Brief: Investors Bank selects Cognotec for online FX

Global custodian Investors Bank & Trust is to use Cognotec's AutoDeal Lite product to deliver Internet-based currency dealing to its clients.

15 December 2000

/payments

PayPal hits five million user mark

Online person-to-person payment service PayPal says it has reached more than five million registered users and processed more than $1 billion in payments since launching just over a year ago.

14 December 2000

Latest news