CU Wallet, a collaborative credit union owned and directed mobile payments technology provider, today reported record growth, signing 65 credit unions representing more than seven million members since the company’s launch just nine months ago. CU Wallet continues to gain momentum, positioning the provider to make a substantial impact on mobile payments.
World First has today announced the launch of a ground-breaking new mobile app which will allow clients to make high-speed currency transfers directly from their portable device. The World First Money Transfer App is available to download on iTunes and other app stores for free. It enables clients to manage their international payments on-the-go, so they could be making a secure transfer whilst on the Eurostar from London to Europe, and the money will be in their local account before they arrive.
Former top executive of Mitsubishi UFJ Financial Group joins JCB and is named President and CEO. Ichiro Hamakawa joined JCB in an advisory capacity in May 2014 and was named President and CEO on June 26. He was also named Vice Chairman of JCBI the international operations subsidiary of JCB.
Mobile banking users will likely exceed online banking users for the first time by 2019. A new report predicts 1.75 billion mobile phone users will have used their devices for banking purposes by the end of 2019, compared to 800 million this year. The scale of the mobile banking challenge has been confirmed by the decreasing number of branch visits by consumers and also the closure of physical bank branches over the past 12-24 months.
Among the Big 4 Visa and MasterCard issuers for the second quarter, Chase posted the strongest gain of 1.4% Y/Y and Capital One came in second place with a 1.0% Y/Y gain. Bank of America and Citibank posted Y/Y declines of 1.7% and 2.9%, respectively. The reason for the sluggish growth is simply more Americans see bank credit cards as bank payments cards. This trend is also confirmed by a recent ABA study which found the share of cardholders who are transactor increased from 28.6% to 29.0% this year, the highest share on record.
Worldclear has announced the official launch of its new payment clearing platform for corporates and financial institutions worldwide. Worldclear offers bank-to-bank wire transfers in any major currency and settlement accounts in USD, EUR, NZD and SGD.
Boldon James has been selected to provide DeltaCredit with user-driven data classification technology to protect its critical information assets. DeltaCredit is one of the largest banks in the Russian Federation in terms of mortgage lending volumes and is owned by Société Générale, one of Europe’s leading banking and financial services groups. This will see DeltaCredit implement Email, Office and File Classifier along with Outlook Web Application (OWA) and SharePoint Classifier across their 700-strong workforce. The products will be integrated with DeltaCredit’s existing Data Loss Prevention (DLP) solution provided by InfoWatch, giving predictable and meaningful metadata that greatly improves the performance and reliability of the DLP decision making process whilst reducing the likelihood of data loss.
ProPay announced today a partnership with ThreatMetrix® to provide advanced fraud prevention solutions to its customers. Through this partnership, ProPay customers can have access to state-of-the-art tools to help protect them against cybercriminals. The solution ” a cloud-based, real-time identity verification tool ” helps validate returning customers and prospects, while protecting a wide range of transactions, including account creation, login authentication, and payment authorization.
Paysera has developed a technology that will replace existing parking habits in parking lots all over the world. The new technology links the vehicle registration plate with an e-wallet and ensures that the driver can pay for parking without leaving the vehicle.
The Google Wallet app* for Android and iOS devices are now make it easier to shop in stores and get paid by friends and family. You can also request money from friends, which means you can settle the dinner bill while you’re still at the table. Lastly, sending money with your debit card is now free, making it even easier to pay your friends or the babysitter using Wallet. You can already store your loyalty cards and offers in Google Wallet, and now you can easily keep your gift cards in Wallet too. Add your cards to Wallet just by snapping a picture of them or typing in the card info. Then, when you want to use the gift card at the store, just show your phone to the cashier at checkout.For certain gift cards, you can check your gift card balance in real-time and get reminders to use your card when you are near stores. You can also send money for free in Wallet by using your debit card.
Visa has opened its One Market innovation center and office space at One Market Street in San Francisco. The move provides Visa technologists, clients, partners and the Bay Area tech community an innovative space to jointly develop the next generation of commerce applications.The centerpiece of One Market will be an innovation center designed to provide an immersive experience for clients and partners, where they can interact with Visa subject-matter experts, and explore new products and technologies that advance the payment experience in areas such as mobile, security and cloud-based technologies. The space has been designed to encourage dynamic interaction and real-time experimentation, and is expected to attract Bay Area technology talent who want to develop the next generation of commerce solutions by working with the industry leader in payments.
Visa announced the launch of Visa Checkout, a quick and easy payment service that enables consumers throughout the United States, Canada and Australia to pay for goods online, on any device. For consumers and online retailers, Visa Checkout offers an easy and secure way to pay online. Enrolling in Visa Checkout is intuitive and simple, and shoppers can use any Visa debit or credit card or even other branded cards to make purchases from a PC, mobile device or within a mobile app. Once enrolled, shoppers simply provide their username and password to complete the payment process — without ever having to leave the merchant’s website. Visa Checkout replaces the V.me by Visa service, first introduced in 2012. Leading payments card issuers, community banks, and credit unions are all participating in Visa Checkout.