finextra

China UnionPay to Enter European Market

The world’s largest payment card issuer, China UnionPay, is reportedly planning to enter the European market in a move that could cause serious competition for Visa and Mastercard.

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European Committee Green-lights Tougher Sentences for Digital Payments Fraud

Criminals cashing in on digital payment trends and the rise of cryptocurrencies can expect stiffer jail sentences under new rules approved by a powerful European Parliament committee.

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Advisors Sought for UK Payments Overhaul

The UK’s New Payment System Operator (NPSO) is inviting industry players to apply to join a host of new specialist advisory groups that will help it shape the development of the country’s retail payments infrastructure.

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CFTC and Singapore Central Bank Sign Fintech Pact

The US Commodity Futures Trading Commission (CFTC) and the Monetary Authority of Singapore (MAS) today signed an arrangement to foster greater cooperation in FinTech. The arrangement supports both authorities’ efforts to facilitate FinTech development and innovation in their respective markets.

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State Regulators Refile Lawsuit Over OCC Fintech Charter Plans

US state financial regulators are to renew their litigation efforts over the recent decision by the Office of the Comptroller of the Currency to create a special purpose charter for financial technology firms. It’s the second time that the Conference of State Bank Supervisors (CSBS) has filed suit against OCC.

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Mastercard Unveils Global Trade Platform

Mastercard has launched a global trade platform, powered by Microsoft Azure, that is designed to streamline and automate the procure-to-pay process for companies around the world.Mastercard argues that, while there has been a lot of innovation in consumer payments, the global B2B space is still inefficient and, largely, paper-based.

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The Role of Regulatory Sandboxes in Fintech Innovation

According to KPMG’s latest The Pulse of Fintech report, 2018 is set to be another record-breaking year for Fintech investment. After only two quarters, it’s already reached 57.9 billion, less than 5 billion shy of 2015’s highs of 62.5 billion. Europe and Asia are particularly hot Fintech areas at the moment. With 26 billion and […]

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Fintech Enters the Dictionary

Finally, after decades of usage, the word fintech has made its way into the Merriam-Webster dictionary. The portmanteau of financial technology was one of 840 new entries recently added to the online dictionary.

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UK Looks to Improve Bill Payments With ‘Request to Pay’ Initiative

The UK’s New Payment System Operator (NPSO) is inviting billers to jump aboard its ‘Request to Pay’ initiative, which will give firms and their customers more control, flexibility and transparency in bill payments.

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Australia’s Big Four Roll Out Real-time Payments With Osko

Australia’s New Payments Platform is expecting a surge in transactions as the country’s Big Four banks roll out Osko, an overlay service which enables account-to-account real-time payments via e-mail and mobile phone numbers.

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First Fintech Goes Live on Swift’s Cross-border Payments Scheme

UK-based Ebury has become the first fintech to be a full and active participant on gpi, Swift’s cross-border payments scheme. The move has been hailed as an important milestone by Swift which is looking to encourage new non-bank entrants to join the traditional banks already on the service.

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Starling to Help RBS Develop Digital Bank

Royal Bank of Scotland (RBS) has reportedly enlisted the help of challenger bank Starling in its efforts to develop a digital bank of its own.

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