Consumer uptake of innovative fintech products is set to be embraced by the mainstream as adoption levels surge among digitally-savvy consumers, according to a study by Ernst & Young.
Trade groups representing over 5000 European savings and co-operative banks have called on the European Banking Authority to reject Commission amendments to the revised Payment Services Directive which would require banks to provide a fall-back interface to screen-scraping technology for third party access to consumer bank data.
Seeking to profit from a booming sharing economy, Mastercard has identified trust, experience and regulation as vital to unlocking the potential of the new commerce models that are emerging.
ABN Amro is undertaking tests of wearable technology to make contactless payments, with the aim of rolling out its first card-free tap-and-pay product to customers by the end of the year.
Fresh from a stint at the Fintech Pavillion at this year's EBAday in Dublin, social payments startup PayKey reports that it has secured more than half of its second- round funding target of $10 million.
The European Central Bank has outlined plans to build an instant payment settlement system that will let people and businesses send money anywhere in the euro area within seconds.
Users of the Dankort app and mobile wallets from more than 60 Danish banks can now tap-and-go for low value payments with their phones.
Asia remains home to most payments innovation but Europe is making a charge, leapfrogging Africa, North America and Latin America, according to a survey of industry execs which also calls out distributed ledger technology as over-hyped.
With its new real-time payment platform set to go live in the next few months, EBA Clearing is turning its attention to Euro1, kicking off an investigation into how the flagship single euro payment system should be positioned in the rapidly-evolving landscape.
Visa has announced that its Everywhere Initiative, an innovation program designed to encourage the development of the “next big thing” in payments, will expand into the Middle East and North Africa (MENA) region.
© Finextra Research 2017