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Bank Examiners Told to Address Swift Risks
Federal financial regulators are incorporating lessons learned from the Swift hacks in their examinations, they told a lawmaker in a joint letter last week.  more »
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Alibaba Group Holding Ltd.’s finance affiliate is considering an initial public offering in Hong Kong in the first half of next year after running into regulatory hurdles for a dual listing that would have included Shanghai, according to people familiar with the matter. more »
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Ant Financial and Tencent Holdings Ltd. have won approval to operate digital wallets for customers in Hong Kong, a significant step in the two Chinese internet giants’ overseas expansion. more »
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With the Consumer Financial Protection Bureau expected to release tighter rules for prepaid cards in the next several weeks, prepaid issuers are pushing what they see as advantages over banks, such as fast access to payroll funds. more »
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Some of blockchain’s biggest backers, including people with ties to IBM and JPMorgan, will gather Wednesday to work on the biggest issue hobbling the technology behind digital currency -- the absence of grown-up governance. more »
Nacha CEO Janet Estep says some banks aren't ready for the Sept. 23 deadline.
Financial institutions across the country are in the final stages of readying for the same-day processing of electronic payments, which are scheduled to begin on Sept. 23. more »
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Diebold Nixdorf’s shiny new corporate moniker is already threatened by a possible deep investigation by U.K. authorities into the company’s possible anti-competitive violations. more »
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For the first time, EMVCo, the card network-operated EMV standards body, has established an approval process to formally certify that contactless mobile payment devices can operate at EMV approved terminals. more »
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California state lawmakers have dropped plans for legislation this year to create a new license for bitcoin companies. more »
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Whether it is EMV, NFC, HCE or TSP, there is certainly no shortage of acronyms within the payments ecosystem. And this is one trend that is here to stay. more »
Bloomberg News
MoneyGram International Inc., the world’s second-largest money transfer provider, fell the most in five months after posting profit that missed analysts’ estimates and lowering its revenue forecast for the year. more »
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Retailers insist that the EMV migration in the U.S. is weak because there is no PIN requirement to verify chip-card transactions, a process that is standard practice in other nations. more »
Bloomberg News
"We have worked with PayPal for many years and the relationship is good," Mastercard CEO Ajay Banga said.
There may be bumps along the way, but PayPal, Mastercard and Visa all share the same goal, according to Mastercard CEO Ajay Banga. more »