Technology

Mastercard Launches Real-Time Bill Payments via Banking Apps

Mastercard announced that it is launching Mastercard Bill Pay Exchange – a real-time bill payment and presentment service. This will give issuers the opportunity to recapture ground lost by consumers opting out of online and mobile bill-pay services in favor of visiting biller sites directly to pay their bills.

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Banks Face Continued IT Woes as Legacy Infrastructure Holds Them Down

It was 5am on an otherwise ordinary Friday morning when the first signs of trouble emerged.As Natwest and Royal Bank of Scotland customers began waking, early reports appeared about serious issues with their online banking systems.The problems meant thousands were locked out of their accounts and unable to make crucial transactions.

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Western Union Makes Digital Push Amid Fierce Competition for Money Transfers

Western Union Co. is aggressively expanding its digital services as the money-transfer giant tries to keep pace with competitors vying for international transfers.

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More Mobile Payments-Related Updates Emerge for Bank of America

Weve heard plenty out of Bank of America lately, and its done a whopping lot to augment its mobile presence over the last few months. Now, its loosed word our way that its once again augmented its mobile app.

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IMF Issues Stark Warning Over Bitcoin and Crypto ‘Rapid’ Growth

The International Monetary Fund (IMF) has warned the rapid growth of bitcoin and cryptocurrency assets could create new vulnerabilities in the international financial system, as the world’s banks adjust to the recent bitcoin and blockchain boom.

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Mastercard Awarded Patent for Partitioned, Multi-Currency Blockchain

Mastercard has been awarded a patent for a method to partition a blockchain, making it capable of storing multiple transaction types and formats. The patent filing was published by the U.S. Patent and Trademark Office (USPTO) on Oct. 9.

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Blockchain’s Implications for Society

While the concepts of cryptocurrency and blockchain have been around for years, it wasn’t until Bitcoin’s recent and dramatic explosion in value that these terms became mainstream.

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Mobile Wallet Use Growing Fast, Research Finds

Apple Pay is far and away the leader for mobile wallet transactions, according to new research from Auriemma Consulting Group. The app accounts for 77 percent of mobile wallet transactions, while competitors Samsung Pay and Google Pay account for just 17 percent and 6 percent, respectively.

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Payments at the Speed of Now

Those responsible for implementing faster payments on the industry side seem to have taken the faster part literally. In little over one year, from late 2016 to late 2017, three new faster payments solutions went live: NACHA’s same-day ACH functionality, the Zelle P2P network and the Clearing House’s Real-Time Payments service, which was the first new U.S. payments architecture launched […]

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Blockchain Grows Up as Bankers Take the Place of ‘Crypto Cowboys’

Crypto is all grown up. Sort of. Across San Francisco this week, throngs of crypto enthusiasts packed hotels, event venues and bars for Blockchain Week, a series of conferences, seminars and workshops focused on blockchain applications.

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The Massive Untapped Sales Opportunities of Mobile Banking Users

The mobile banking consumer is one of the most active segments, yet financial institutions usually do an inadequate job of onboarding and cross-selling this base. The result can be seen in measures that show a low level of mobile engagement beyond balance inquiries money transfers on mobile devices.

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Should Banks Be More Open to Cryptocurrencies?

The jury is still out on cryptocurrency. In the first several years following the inception of Bitcoin, banks had little to say about them. More recently, however, as cryptocurrencies have come to regularly dominate the news agenda and have become of interest to a much wider consumer audience, banks have had to decide where they […]

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