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Fintech Favorites

By David Penn for Finovate Blog

Blockchain

  • Visa (FD14) partners with blockchain innovator Chain (FD15) to develop a “near real-time,” high value, fund transfer system between banks and corporate customers called Visa B2B Connect. The technology is expect to pilot in 2017, and could add much needed transparency and security as well as speed to B2B payments.

  • Five banks including Credit Suisse, Barclays, and Citi announce successful test of smart contract prototype developed by blockchain startup, Axoni. The project specifically tested ways to manage and synchronize single stock, index, and portfolio swaps.

Go East, Young Developer

  • Mizuho announces new innovation lab in Tokyo supported by Mitsubishi Estate and Dentsu. Remember that Finovate is headed to Hong Kong on November 8th forFinovateAsia 2016. Check out our FinovateAsia information page for details.

Payments

  • CVS Pharmacy launches mobile payment technology CVS Pay nationwide. The technology, part of CVS’ mobile app, incorporates payment, prescription pickup, and the pharmacy’s loyalty program.
  • Ingo Money unveils its Instant Payments, a white-label, API-based, push payments technology. According to Ingo founder and CEO Drew Edwards, the solution “makes it easy for any company to implement push payments quickly and begin originating real-time, guaranteed payments to any customer or employee within their own proprietary user flows and branded experience.”
  • Australia introduces the New Payment Platform (NPP), a version of the U.K.’s Faster Payments service. The real-time bank transfer service that works with just a phone number or an email address is expected to debut in 2017.
  • Android Pay goes live at more than 5,000 retail locations in Hong Kong including 7-Eleven, McDonalds, and Circle K. The technology also supports gift and loyalty cards.

First appeared at Finovate Blog

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