【Trend】The Top Payments News Stories

1. Payments News – Cyber Security

  • Wanna Cry kill switch finder, Marcus Hitchins, is arrested in the US
  • Commonwealth Bank of Australia (CBA) intelligent deposit ATMs are allegedly used for money laundering purposes
  • Organised crime – including money laundering and digital currencies – are costing the Australian economy $28 billion a year
  • UK clearing houses will be subject to cybersecurity reporting based on laws to be implemented by May 2018

2. Payments News – Mobile Payments

  • Paytm, a leading digital payments firm in India, will launch a messaging service to compete with WhatsApp
  • China’s central bank looks to force mobile payments companies to route their transactions through a clearing house and share data
  • UK Finance reveals that cash is still king in the UK, but the number of cash payments fell by 11% between 2015 and 2016
  • Meanwhile WorldPay reveals that contactless mobile spending is up 336% in 2017 compared with first 6 months in 2016
  • MasterCard to pilot accepting contactless payments in Poland using only a smartphone

3. Payments News: Blockchain / Digital / Crypto-currencies

  • ING, Calypso Technology and the R3 consortium successfully test a blockchain powered trade confirmation platform
  • Overstock will accept all major cryptocurrencies – such as Etheruem and Bitcoin Cash
  • IBM partner with Kasikorn Bank in Thailand to process Letters of Guarantee over a distributed ledger platform
  • Australia looks to regulate digital currencies
  • The “Atomic Ledger” project uses atomic clocks to timestamp trades that are subsequently recorded on a distributed ledger
  • 6 banks collaborate to form a Utility Settlement Coin (USC) digital currency
  • The Russian state owner development bank, Vnesheconombank (VEB), will open a blockchain research centre in Moscow

4. Payments News: Banks

  • RBC enables bill payments using Siri
  • Natwest celebrate the 50th anniversary of the launch of its first ATM with cash rewards for some customers
  • European Commission shares “statement of objections” with Visa regarding inter-regional interchange fees
  • Tandem acquires Harrods Bank
  • HSBC leverage IBM’s cognitive intelligence and character recognition technology to develop a trade finance automation solution
  • DBS Bank launches DBS Car MarketPlace – an online portal for buying and selling cars
  • Barclays launch SmartBusiness Dashboard to help SMEs manage their data in 1 place
  • Simple (a US digital bank) lays off 33 employees in an effort to build better technology
  • RBS to hold a Disrupt 17 event in Edinburgh and will welcome Silicon Valley’s finest
  • Barclays anticipates weekend service outages as the banks sets up its ring fenced bank
  • Barclays utilises heat sensing devices to see how often bankers are at their desks
  • Bank of America uses AI (artificial intelligence) to AR (account receivable) to help companies determine who’s paid for what
  • Rabobank builds 3D model of its IT landscape to help highlight opportunities for improvement
  • Post Brexit, will Frankfurt be the new London…?
  • The Singapore Payments Council will establish a Singapore QR code Taskforce (SGQR) with a view to developing a common QR Code in Singapore
  • Singapore’s OCBC Bank launches “OCBC Keyboard” enabling e-payments to any bank in Singapore from any mobile app
  • Credit Suisse invests in Sapience Analytics – “a market leader in People Analytics”

5. Payments News: Fintech

  • Finnu, a fintech startup in the process of applying for a full UK banking license, announces some appointments to its board
  • Oxford University with GetSmarter launch an online 10 week FinTech programme
  • Blackstone and CVC buy PaySafe
  • Abu Dhabi looks to bolster its FinTech interests by issuing a Innovation Challenge in October
  • Banks and startups collabroate in Norway to form a FinTech “Finance Innovation” hub
  • Fiserv acquires Dovetail
  • Amazon enables, via Amazon Top Up, UK users to pay for goods on its platform via cash!
  • The ride hailing platform Grab launches a peer to peer payments transfer app – GrabPay - in Singapore
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6. Payments News: SWIFT

  • Ripple will run a conference “Swell: The Future is Here” at pretty much the same time and city as the SWIFT annual flagship Sibos

7. Payments News: Reports

 

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