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Russian banks and Mastercard launch fintech accelerator

Russia

Four Russian banks, Ak Bars, VTB 24, Bank Saint Petersburg and Home Credit Bank have teamed with Mastercard to launch the “first collaborative” acceleration programme for fintech in Russia. Strategic consultancy will be done by Accenture, and representatives of the Central Bank of Russia (aka the Bank of Russia), the Ministry of Communications, the Association […]

Prepaid gains more love from Canadians

Backbase comes to Canada in style

Reloadable prepaid cards are a hit with Canadian consumers, with 95% of them saying they are satisfied with the products in 2016, reports Banking Technology‘s sister publication Paybefore. The figure represents an increase of 22 percentage points from 2015, and stands as the highest satisfaction rate for all payment tools, according to the second annual […]

UniRush and Mastercard ordered to pay $13m over RushCard outage

Paying the fine

In its first enforcement action against prepaid providers, the Consumer Financial Protection Bureau (CFPB) has announced that UniRush and Mastercard will pay a combined $13 million for a 2015 service disruption that left cardholders without access to their funds.

Mastercard victorious in UK interchange lawsuit

Law

Mastercard can put a notch in the win column after a High Court judge ruled in the payment card network’s favor regarding a lawsuit brought on by retailers disputing cross-border interchange fees on debit and credit cards.

Mastercard growing faster than Visa in Americas

mastercard

Mastercard saw faster growth than Visa in the Americas in 2015 but, with 43%, Visa still has significantly the largest market share, according to research by Retail Banking Research (RBR). According to RBR’s Global Payment Cards Data and Forecasts to 2021 study, the number of Mastercard cards grew by 6% in the Americas in 2015, […]

CMA comments on current account switching plans & VocaLink’s takeover by Mastercard

UK flag

The Competition and Markets Authority (CMA) in the UK has accepted undertakings from the Bacs payment scheme that commit it to delivering the improvements required by the CMA retail banking market investigation within a year.

Top fintech stories this week – 6 January 2017

Banking Tech 2

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The first weekly news round-up of 2017. Happy 2017! Let it be a year of discovery and success.

CMA voices concerns over VocaLink’s takeover by Mastercard

ClauseMatch and JWG team up for new reg reporting development

The Competition and Markets Authority (CMA) has found that Mastercard’s acquisition of VocaLink gives rise to competition concerns.

Top ten blockchain stories in 2016

Blockchain

It felt like there was a blockchain story every day in 2016, but we look back at some of the bigger stories with Banking Technology’s top ten! Microsoft and AMIS launch Asia’s first blockchain consortium Microsoft says it is also in “collaboration” with banks such as Ubon Financial, Cathay Financial Holdings and MegaBank to further […]

Repay your way with Mastercard and Verifone instalment app

mastercard

Mastercard has teamed with Verifone to roll out a new instalment pay application at retailers across the UK. Called Mastercard Instalments, it is designed for shopping online or in-store, and cardholders can choose their instalment option upon checking out. For example, when purchasing a new TV or flight, customers could repay it in fixed instalments. […]

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