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Fintech earnings round-up: 31 July 2017

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Several major payments companies have released Q2 earnings, including The Bancorp, Discover, Mastercard and PayPal. Overall, payments volume is on the rise and partnerships are proving particularly important for PayPal, which has been on tear with recent strategic announcements.

Mastercard triumphs against £14bn collective action lawsuit

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Mastercard can breathe a sigh of relief as the £14 billion lawsuit – a collective action over card charges that were passed on to shoppers – has been stopped by the UK’s Competition Appeal Tribunal. As reported last year, Mastercard faced the massive lawsuit. The claim was headed by ex-financial services ombudsman Walter Merricks, who […]

Mastercard buys in to AI with Brighterion

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Mastercard has entered into an agreement to acquire Brighterion, a software company specialising in artificial intelligence (AI), reports Banking Technology‘s sister publication Paybefore. This acquisition follows Mastercard’s March acquisition of NuData Security and will further expand Mastercard’s capabilities to “deliver an enhanced customer experience and security”. Brighterion’s portfolio of AI and machine learning technologies provide real-time […]

FitPay and Mastercard take prepaid to wearables and IoT

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FitPay Inc, a US-based provider of payment, credential management and authentication platform services, is planning to offer prepaid capabilities on wearable and other devices connected to its FitPay Payment Platform.

Mastercard makes digital payments push in Asia-Pacific transit

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Mastercard is making headway in advancing digital payments for transit passengers in Australia and bike-sharing consumers in Singapore.

Top fintech stories this week – 23 June 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Mastercard and Western Union designing digital solutions for refugees

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Mastercard and Western Union have teamed up to help refugees around the world access goods, services and financial services within refugee settlements. Paybefore, Banking Technology‘s sister publication, reports that the partnership will explore ways to use a digital model to serve the more than 65 million people around the world currently displaced from their homes […]

Mastercard launches competition for African financial inclusion

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The Mastercard Foundation Fund for Rural Prosperity (FRP) has launched a new competition to find financial products and services that improve the lives of poor people in rural areas of Africa. The 2017 competition will follow a rolling format and will be open throughout the year with applications submitted and evaluated periodically. The first submission […]

TSB drops Visa to issue Mastercard debit and credit cards in 2018

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Visa is no longer a pleaser as TSB will issue Mastercard debit cards to all its current account customers in 2018 as part of a seven-year agreement. The bank says it will continue to issue Mastercard credit cards over the same term. The agreement means the two organisations “will partner to offer additional payment solutions”. […]

Mastercard and Oxford University plan helps banks breathe life into biometrics

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With increasing global smartphone penetration and a willing consumer base, financial institutions recognise the potential of biometrics to offer more convenience and security to their customers – but a lack of familiarity with the still-new technology among top banking brass remains a significant barrier to adoption, a new report from Mastercard and Oxford University found.

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