Payments News » Systems

SWIFT Chief Announces Integration With R3 At Paris Fintech Forum

January 30 2019

“SWIFT, the global banking payments network, is to begin testing its GPI payments standard through R3’s Corda platform. Speaking on stage at the Paris Fintech Forum this morning, SWIFT CEO Gottfried Leibbrandt said: “Later today we are announcing an integration with R3.” In a follow-up announcement, the firm explained that the “integration” will be a trial that will […]

Systems

Mojaloop Bootcamp Application

January 30 2019

in
Mobile Money

“Some of the biggest challenges for retail financial services in developing countries include poor or missing payment APIs, a lack of standardization, and limited interoperability between various mobile money and bank-based domains within the payment system. These problems increase costs, create bad user experiences, and limit use cases. The Gates Foundation are working to create […]

Risk & Fraud

A fake check causes a real headache – The Boston Globe

January 29 2019

“A counterfeit check may seem old-fashioned in today’s world of cyber crimes, but one estimate I found online put the annual cost of such scams in the billions of dollars. Remember, a scam artist needs only one purloined check, blank or canceled, to fabricate another.”

Systems

The Fed Should Develop Its Own Real-Time Payments, Say Three Former Fed Payment Experts

January 31 2019

in
Faster payments

“She is one of three former Fed executives who responded to the Fed’s request for comments on whether the central bank should develop its own real-time payments system which would compete with a system being slowly rolled out by The Clearing House. All three think the Fed should develop and operate a real-time payments system.”

Reports

Same-Day and P2P Volumes Boom on the ACH While Back-Office Conversions Stage a Comeback

February 1 2019

in
ACH

“The big ACH news for the past couple of years has been same-day transactions, which promise to meet demand for faster clearing and settlement, and help the network meet growing competition from financial-technology companies. Same-day ACH transactions—credits and debits combined—grew 46% year-over-year to 51.3 million from 35.2 million in 2017’s last quarter, Herndon, Va.-based NACHA reported this week. Growing slightly […]

Risk & Fraud

Glowing reviews tout counterfeit cash on the dark web

February 4 2019

in
Cash

“An analysis by Secret Service experts linked the fraudulent bills to thousands of others that had been passed with a total face value of $4.1 million. That made Billmaker the nation’s most prolific domestic counterfeiter. Britsch’s buy sparked a nine-month investigation into the murkiest corners of the dark web, where cyber-savvy criminals use online bazaars to anonymously […]

Deals

Crypto exchange Kraken acquires Crypto Facilities

February 4 2019

in
Cryptocurrencies

“Cryptocurrency exchange Kraken just closed its biggest acquisition to date. The company is buying Crypto Facilities in a nine-figure deal. Crypto Facilities is an exchange and index provider regulated by the Financial Conduct Authority in the U.K. In particular, Crypto Facilities lets you trade futures on multiple cryptocurrency pairs.”

Systems

Cheques to be excluded from UK’s New Payments Architecture

February 4 2019

in
Checks

“Once again cheques in the UK are facing their demise, this time as a consequence of their being excluded from the New Payments Architecture project, or “NPA”. This time it will be a slow and lingering death over a 10-15 year period, as investment is channeled into other services and the cheque service withers on […]

Systems

Synchrony HOME™ Credit Card Launches, Offers 2% Cash Back and Promotional Financing on Home-Related Purchases

February 4 2019

“From furniture and décor to flooring and appliances, the all-in-one card is designed for people who seek simplicity and value for their home purchases. The Synchrony HOME Credit Card gives consumers financing options for all their home needs at more than a million large, medium, and small retail locations nationwide.”

Systems

DFS Lab Announces Open Applications for Fintech Hackathon Focused on the Mojaloop Software

January 31 2019

“Digital Financial Services Lab (DFS Lab), today announced it was hosting a hackathon in Dar es Salaam, Tanzania April 8 to 12. The Hackathon will offer participants an in-depth look Mojaloop, which is open-source software for financial services companies, government regulators, and others taking on the challenges of interoperability and financial inclusion. Interested applicants can apply on the DFS […]