Thursday, April 2, 2020
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US banks roll out Zelle P2P money transfer app to take on Venmo

US banks roll out Zelle P2P money transfer app to take on Venmo

A consortium of US banks, including Wells Fargo, JPMorgan Chase and Bank of America, are rolling out a new P2P money transfer app to take on Venmo and other mobile payment upstarts. The app, named Zelle,...

China leads, US lags in m-banking

China is leading the world in the uptake of mobile finance, with 77% of consumers using their phones to conduct financial transactions, according to a global survey carried out by KPMG. The consultancy surveyed 5,627...

MTN staff stole $3.5 million

MTN's Ugandan subsidiary has confirmed that staff had conspired to exploit a loophole in its mobile banking service and stole USh9 billion (US$3.5 million) from the company. No customers lost any funds during the fraud...
A fingerprint on a mobile phone

Right finger forward: Why consumer technologies are driving biometric banking

When Apple and Samsung released new devices with fingerprint sensor technology, biometrics suddenly went mainstream and, as consumers, we’ve quickly become familiar with the technology. Fingerprint recognition has long been used as a means of...

Indian government to permit rural m-banking from July

People will be able to withdraw cash and transfer funds using their mobile phones in rural areas after the government approved the framework for introduction of such facilities by the banks. The government wants them...
The Zapp app

Barclays shuns Apple Pay and sign Zapp

Barclays has signed a deal with the digital payments service Zapp, enabling customers to make online transactions through the “pay by bank” application on mobile devices. The tie-up comes a week before the launch of...

Banks must wake up to mobile virus threat

Banks offering mobile payment services must wake up to the threat of malware viruses or risk having to play catch-up with criminals, Ovum has warned. A new report by the independent technology analyst states that...

Citibank launches paperless mobile payment system

Citibank India announced a new paperless mobile payment system for its credit and debit card customers that would do away with the charge slips and be implemented for the entire global network of its...

Customer service is key but resources are a challenge

This week we held a breakfast briefing on mobile banking that drew in a crowd of financial institutions and consultants to the industry. The agenda included talks from IE, KPMG and Barclaycard - all...

Digital banking demands new technologies – and new vendors

Banks face intense pressure to increase efficiencies and reduce costs while delivering next-generation digital banking services; however, incumbent application vendors have been slow to respond to new requirements, according to a new report from...

Latest News

Payment industry history with first AES DUKPT key management implementation

Verifone says it has implemented AES DUKPT with its end-to-end encryption solution, VeriShield Total Protect, its Engage family of payment devices, and Carbon 8 & 10. Co-designed by Verifone, AES DUKPT...
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