News


Payelp Partners with Qiwi for Reloadable Prepaid Visa Card in Eastern Europe (Jan. 14, 2013)

Jan. 14, 2013 Payelp Global, a Los Angeles-based e-commerce platform serving merchants via 300 different payment gateways worldwide, is expanding its services to include a reloadable virtual prepaid card for consumers in regions that lack broad credit and debit card penetration. The offering builds on Payelp’s existing partnership with Moscow-based Qiwi Ltd., which recently introduced […]

Report: Mobile Banking Users to Reach 1 Billion Globally (Jan. 14, 2013)

Jan. 14, 2013 Nearly twice as many mobile phone users by the end of 2017 will have used their devices for mobile banking, compared with this year—1 billion versus 590 million—according to a new report from U.K.-based Juniper Research. The developed markets of Far East & China, North America and Western Europe will have the […]

Boku Earns E-Money License in Europe (Jan. 14, 2013)

Jan. 14, 2013 San Francisco-based mobile direct carrier biller Boku has received an e-money license for its European payments platform. Boku said the approval from the U.K.’s Financial Services Authority will enable the company to expand its platform in Europe. Currently operating in more than 65 countries, Boku has direct billing deals with about 250 […]

Consumer Attitudes on Mobile Banking Impact Mobile Commerce (January 2013)

January 2013   By Bill Grabarek, Senior Editor Financial institutions must combat persistent consumer indifference toward mobile banking in the United States if they want to see consumers move toward mobile commerce, according to a recent report by Javelin Strategy & Research. The research, which outlines financial services trends in 2013 as well as how […]

People on the Move: Dan Åkhagen, Payair (January 2013)

January 2013 Payair, a Swedish mobile commerce company, has hired Dan Åkhagen as human resources director. He will be responsible for the recruitment of new staff and the development of existing employees. Åkhagen has extensive experience with human resources issues in both public and private sectors. Before joining Payair, he was employed by game developer […]

People on the Move: Yunsok Chang, Ari Sarker and TV Seshadri, MasterCard Worldwide (January 2013)

January 2013 MasterCard Worldwide has announced three new appointments to bolster its Asia-Pacific, Middle East & Africa (APMEA) leadership teams. TV Seshadri is moving from India to Singapore as group executive, global products and solutions (GP&S) for APMEA. Seshadri will assume responsibilities for developing, driving and implementing product strategies and solutions for MasterCard to maximize the […]

Wall Street Systems acquires IT2 Treasury Solutions

IT2 Treasury Solutions, a UK company that provides treasury management software and services for large corporations and small and mid-sized financial institutions, has been sold to Wall Street Systems, a subsidiary of trading technology provider ION Trading.

Bank AlJazira upgrades Saudi data centres with Siemon

Bank AlJazira has commissioned infrastructure specialist Siemon to supply the IT infrastructure for new data centres across Saudi Arabia as part of its strategy for growth and to secure technical advantage. Siemon was selected as the supplier of choice in a competitive tender with two other industry-leading manufacturers. According to Ahmed Al Hassan, head of […]

March deadline for code to tackle fixing of interbank lending rates

European regulators have until March to impose a code of conduct on banks contributing to the creation of the Euribor interbank lending rate benchmark. The deadline is included in recommendations published by the European Securities and Markets Authority and the European Banking Authority following their joint work on benchmark rate-setting processes in the wake of the Barclays Libor scandal and other rate-fixing revelations.

BATS trading errors highlight perils of technology arms race

US exchange operator BATS Global Markets’ revelation earlier this week that it may have accidentally breached best execution regulation on thousands of client transactions over a four-year period has been criticised by senior buy-side traders, who have expressed disappointment at the failure of exchanges to serve long-term investors.

Mobile banking to hit 1 billion users by 2017

As uptake of mobile banking services is predicted to reach 1 billion by 2017, banks are starting to view the mobile channel as an indispensable revenue stream, according to Nitin Bhas, senior analyst at telecoms research firm Juniper Research.

Swift appoints Kennel to head market infrastructure efforts

Swift, the Brussels-based financial messaging consortium has appointed Juliette Kennel to the newly-created post of head of market infrastructures. Kennel, formerly head of standards, will be responsible for bringing together Swift’s activities in this area. Swift’s relationships with other market infrastructures is a focus for Gottfried Leibbrandt, who took over as chief executive last summer, […]

Citi targets “dangerous” global collateral shortfall

Citi has established a set of alliances with Clearstream and Euroclear Bank that it says will transform the way broker-dealers manage their collateral, freeing up precious resources as onerous new regulations in the US and Europe burden banks with tougher collateral requirements.

Push for Pan-European Account Access Could Spur Prepaid Card Growth (Jan. 10, 2013)

Jan. 10, 2013 European banks and prepaid card marketers are weighing their options as they await word on a European Parliament initiative to guarantee all European Union citizens access to a payment account, according to observers. The push to bring payment services to all springs from a European Commission announcement in March 2012 that laid […]

U.S. Bank Launches NFC Payment Pilot in Salt Lake City, Portland (Jan. 10, 2013)

Jan. 10, 2013 Salt Lake City’s focus as a hotbed of NFC-based mobile payment intensified today as U.S. Bank announced the launch of its “Go Mobile” app enabling some of its credit card customers to convert their iPhones to an NFC payment device. Salt Lake City residents can now wave their phones to pay at […]

First Data: Slow Spending Growth in December (Jan. 10, 2013)

Jan. 10, 2013 Down-to-the-wire drama over the U.S. economy and the “fiscal cliff,” lasting effects of Hurricane Sandy and relatively modest retail discounts during the holidays are likely contributors to December having the lowest monthly dollar volume growth in three years, according to the latest SpendTrend data released by First Data Corp., an Atlanta-based payments […]

Brink’s Enters Payroll Card Business with NetSpend (Jan. 10, 2013)

Jan. 10, 2013 NetSpend Holdings Inc. has added another partner to its growing payroll card business. The Brink’s Company, which is best known for supplying security-related logistics and transportation services, will offer a new payroll card in partnership with NetSpend, which will serve as exclusive program manager and processor. The Brink’s Money prepaid card, set […]

BancorpSouth to Offer New Prepaid Card through Community Bank Program (Jan. 10, 2013)

Jan. 10, 2013 Tupelo, Miss.-based BancorpSouth Inc. has announced the launch of a new GPR prepaid card targeted at travelers, students and online shoppers. The MasterCard-branded card can be used at retailers, online and for cash withdrawal at ATMs, and features an online account management system that enables reloads over the Web. BancorpSouth said there […]

ConvergEx targets “dark” Asia Pacific capital markets

Western investment firms looking to trade in Asia Pacific should not rely on algorithms that have been ported from the US or Europe, according to William Capuzzi, president of trading technology company ConvergEx’s global execution business – instead, they should adopt dedicated tools built from the ground up.