Payments Cards & Mobile

BIAN issue new API guidelines to support global Open Banking

Alex Rolfe — Wed, 28 Feb 2018 11:59:17 +0000

The Banking Industry Architecture Network (BIAN), an independent, not-for-profit association, has published an updated version of its standardised global IT architecture model for Open Banking. Titled, Service Landscape 6.0 (SL6.0), the model contains definitions for 26 new types of semantic API, like “Execute Customer Onboarding” and “Customer Offer for Consumer Loan”, providing banks and software [...]

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Success of contactless peaks as shoppers demand wearable payments

Alex Rolfe — Wed, 28 Feb 2018 11:15:19 +0000

One quarter (26%) of British shoppers expect to start using contactless payments with a smartwatch, bracelet, keyring or other forms of wearable payments, according to new figures from Mastercard. In the UK, contactless spend on Mastercard grew by 139% in the last year, and the huge success of contactless has seen many Brits willing to [...]

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Turning a smartphone into a payment terminal – Mobeewave announces agreement with Samsung

Alex Rolfe — Wed, 28 Feb 2018 09:00:40 +0000

Mobeewave say they have signed a global partnership agreement with Samsung that will allow Mobeewave to offer its patented in-person contactless payment acceptance solution on Samsung devices. The solution enables people to accept payment from a contactless card or mobile wallet using only their phone – essentially turning a smartphone into a payment terminal. Under [...]

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Deutsche Börse presents CollCo blockchain concept for risk free cash transfer

Alex Rolfe — Tue, 27 Feb 2018 12:39:36 +0000

Deutsche Börse Group has developed a concept for riskless transfer of commercial bank money via an infrastructure based on distributed ledger technology (DLT). By combining blockchain technology with its proven post-trade infrastructure, it aims to achieve efficiencies while at the same time investigating possible new business opportunities enabled by this technology. DLT is often perceived [...]

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World FinTech Report highlights symbiotic collaboration as key to future financial services

Alex Rolfe — Tue, 27 Feb 2018 10:50:35 +0000

The rise of FinTechs[1] continues to revitalise the financial services customer journey; however, many startups have realised they will struggle to succeed alone. With complementary strengths, FinTechs are increasingly looking to symbiotic collaboration with the traditional financial services firms they once sought to overthrow, according to the World FinTech Report 2018 from Capgemini and LinkedIn, [...]

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Open Banking can contribute £1bn to UK economy

Alex Rolfe — Mon, 26 Feb 2018 12:43:45 +0000

Implementing Open Banking reforms, which came into force in the UK last month could contribute more than £1bn annually to the UK economy, CEBR research has claimed. Under pen Banking customers are given the keys to their own financial data, enabling them to change providers in minutes online with a few clicks. It also enables consumers [...]

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Venezuela launches petro a government backed cryptocurrency

Alex Rolfe — Mon, 26 Feb 2018 10:38:52 +0000

The Venezuelan government says it raised $735m in the first day of the pre-sale of its cryptocurrency, the petro. President Nicolás Maduro tweeted late on Tuesday that the cryptocurrency reaffirmed the country’s economic sovereignty and celebrated the petro as a “big solution” to Venezuela’s ills, as the country economy is battered by hyper inflation and US [...]

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Faster payments equal real-time fraud – the Zelle story

Alex Rolfe — Mon, 26 Feb 2018 10:12:41 +0000

There has been an increasing amount of fraud perpetrated against Zelle, the mobile P2P platform running on faster payments rails and backed by the biggest banks in the US. The scam itself is straightforward, a Craigslist user reaches out to a seller on the marketplace to buy something like concert tickets. The seller, in turn, asks the [...]

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The cryptocurrency revolution has barely begun – viva la blockchain

Alex Rolfe — Tue, 20 Feb 2018 13:29:41 +0000

Upset that you missed the boat on the cryptocurrency craze last year? Millionaires were minted overnight as bitcoin returned 1,700% in 2017, only to see prices crash by more than half since December. The bubble seems to have popped, and not everyone got out in time. While we may be past the peak temporarily, the [...]

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UK retailers self-restricting growth potential due to limited payment options

Alex Rolfe — Tue, 20 Feb 2018 13:20:12 +0000

The UK’s top retailers are inhibiting their online sales potential by up to 30% by not offering a range of payment options for customers. The study, carried out by Visualsoft, found that almost one in five (19%) of the UK’s top 240 retailers are failing to offer a payment choice aside from a mainstream credit or debit card. This [...]

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