27 May 2017
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Latest payments news

Bank of England to take over running of Chaps as RTGS make-over comes onstream

Bank of England to take over running of Chaps as RTGS make-over comes onstream

09 May 2017  |  10140 views  |  1 comments | 16 tweets | 29 linkedin

The Bank of England is to take over the direct running of the UK's Chaps high value payment system as part of a blueprint for a rebuild of its real-time gross settlement platform to accommodate new market entrants and a future-proofed interface to distributed ledger technology.

Swift Business Forum, Nordics - live blog

Swift Business Forum, Nordics - live blog

09 May 2017  |  4510 views  |  0 comments | 1 tweets | 2 linkedin

Welcome to Finextra's live coverage of the Swift Business Forum in Stockholm. This event will explore how banks can think in new and innovative ways as different business models impact the majority of existing banking revenues.

Macau to implement facial recognition at ATMs

Macau to implement facial recognition at ATMs

08 May 2017  |  7451 views  |  0 comments | 9 tweets | 12 linkedin

Macau is to introduce facial recognition for UnionPay cardholders at ATMs in an attempt to curb money laundering in the island territory.

Correspondent banking wilts under weight of compliance red-tape

Correspondent banking wilts under weight of compliance red-tape

08 May 2017  |  7224 views  |  1 comments | 8 tweets | 8 linkedin

The correspondent banking model governing bank-to-bank relationships is being eviscerated under the increasing weight of compliance challenges, experiencing a 25% drop in global connections over the past eight years, according to research from financial crime vendor Accuity.

Barclays campaigns to take on fraudsters

Barclays campaigns to take on fraudsters

08 May 2017  |  7905 views  |  12 comments | 14 tweets | 14 linkedin

The UK's Barclays Bank is rolling out a service to enable customers to switch off debit cards direct from their mobile app as part of a £10m nationwide drive to increase the public’s awareness of financial fraud risks.

Bitcoin set to go boom

Bitcoin set to go boom

08 May 2017  |  24904 views  |  0 comments | 35 tweets | 32 linkedin

Adam Davies, consultant at Altus Consulting believes the value of a single bitcoin will reach £3000 by the end of the year. He explains why.

Hackers exploit SS7 telco flaw to raid German bank accounts

Hackers exploit SS7 telco flaw to raid German bank accounts

05 May 2017  |  12277 views  |  0 comments | 18 tweets | 34 linkedin

02 has confirmed that hackers exploited long-known weaknesses in a protocol that connects back-end telco networks to intercept and re-route two-factor verification codes sent by German banks to customer mobiles to authorise online funds transfers.

CIBC ditches NFC payments app

CIBC ditches NFC payments app

05 May 2017  |  5317 views  |  1 comments

Canadian Imperial Bank of Commerce (CIBC) has quietly pulled its SIM-based NFC mobile payments app from the Google Play Store, citing the popularity of alternatives from Samsung and Apple.

Delivery plan agreed for consolidation of UK payment schemes

Delivery plan agreed for consolidation of UK payment schemes

04 May 2017  |  8342 views  |  1 comments | 12 tweets | 22 linkedin

The UK's Payment Systems Regulator and the Bank of England have agreed a framework for the consolidation of Bacs, the Cheque and Credit Clearing Company and the Faster Payments Scheme.

Hyundai builds bespoke 'Contactless Car'

Hyundai builds bespoke 'Contactless Car'

03 May 2017  |  7319 views  |  0 comments | 15 tweets | 13 linkedin

Hyundai is launching a 'Contactless Car' in the UK capable of accepting donations for national charity Stand Up To Cancer.

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