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345

Light at the end of the tunnel: here’s the multiplier effect of going cashless

By  for TechInAsia

Long before demonetization and a scramble to find alternatives to cash, India had laid out a unique tech infrastructure for a digital economy. Its cornerstones were a unique biometrics-based Aadhaar ID for every citizen to enable authentication, and a unified payments interface (UPI) to simplify money transfer. (more…)

Banks, Cashless, Fintech news, India, Mobile payments/banking

December 10, 2016

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275

Askari Bank introduces cardless cash withdrawals

By Finextra

In association with TPS as its trusted technology partner, Askari Bank Limited has launched Cardless Cash Withdrawal service for the first time in Pakistan. With this service, Askari Bank’s customers can withdraw cash without any ATM card. The service is available at all Askari Bank ATMs across Pakistan.

(more…)

Banks, Cashless, eWallets, Fintech news

December 6, 2016

Shopper with Cart in Supermarket --- Image by © Dave & Les Jacobs/cultura/Corbis

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Amazon looks to make shoplifting legal with Amazon Go

By  for TNW

There’s a term used to describe people who walk into a store, help themselves to a sandwich or a cupcake, and then promptly walk out: Shoplifters. But maybe not for much longer.  Amazon just lifted the lid on its new Amazon Go technology, which looks to fundamentally transform the retail world. (more…)

About, Cashless, Fintech news

December 6, 2016

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Here’s a tech solution to the killer queues at banks and ATMs in cash-starved India

By

My colleague in Bangalore, Neha, stood for hours at ATMs twice – and failed on both occasions to withdraw cash. Another colleague, Abhilash, was third in the queue after a four-hour wait when the ATM ran out of cash. (more…)

Cashless, Fintech news, India

November 28, 2016

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411

Airtel Bank opens its doors as India grapples with demonetization crisis

By  for TechInAsia

You know what they say about demonetization in India, right? It marches on. (more…)

Banks, Cashless, Fintech news, India, Mobile payments/banking

November 23, 2016

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Mastercard, Visa poised to reap spoils of India’s war on cash

By PaymentsSource

The world’s largest payment networks will see a surge in transactions and cardholders after the Indian government’s decision this month to remove high-denomination bills from circulation, according to analysts who cover the companies. The two networks have been pushing for this kind of change in India, where a McKinsey & Co. study found that more than 90 percent of transactions are still conducted in cash. (more…)

Cashless, Fintech news, Global trends, India

November 23, 2016

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Alibaba-backed Paytm solves the problem of card payments in India

By  for TechInAsia

Chew on this: 740 million debit or credit cards have been issued in India. Only 700,000 merchants accept card payments. And there are only 1.5 million card-swiping machines – point-of-sale (POS) terminals – in the country. (more…)

Cashless, eWallets, Fintech news, India, POS/mPOS and online acquiring

November 23, 2016

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483

PayQwick Aims to Be The PayPal of Pot

By Julie Weed for Forbes

Piles of cash.

It’s often one of the biggest challenges for a marijuana company. (more…)

Banks, Cashless, eWallets, Fintech news

November 19, 2016

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372

How retail brands can shake up stagnant card loyalty

By Lars Holmquist for PaymentsSource

It’s time for financial services to get on board and engage with complementary brands to enhance loyalty.

(more…)

Analytics, Cashless, Mobile payments/banking

November 19, 2016

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Life.SREDA’s portfolio company Fastacash was awarded the biggest award at the Singapore FinTech Awards

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) awarded 10 FinTech companies a total of S$1.15 million at the FinTech Awards.

Between the 10 awardees, Life.SREDA’s portfolio company FASTACASH was awarded a 1st place with a prize of S$250.000 in a category of MAS FintTech award (Singapore-based companies of any size)

(more…)

Cashless, Fintech news, Global trends, Hotnews, Remittances

November 18, 2016

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411

SocGen to offer customers cards with dynamic CVV screens

By Finextra

Societe Generale is to offer customers the opportunity to replace their current Visa cards with a Motion Code card from Oberthur that replaces the three-figure CVV code on the rear of a card with a small screen display that automatically changes periodically. (more…)

Banks, Cashless, Security

November 17, 2016

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288

Citi makes Aussie branches cashless

By Finextra

Citi’s Australian arm is going cashless, telling customers that it will no longer handle notes and coins in branches because of a lack of demand. (more…)

Banks, Cashless, Fintech news

November 17, 2016

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368

Alibaba-backed Paytm is laughing all the way to the bank

By  for TechInAsia

Alibaba-backed mobile ecommerce player Paytm put out an ad on the front pages of newspapers last week congratulating Indian prime minister Narendra Modi for “taking the boldest decision in the financial history of independent India.” Delhi chief minister and Modi rival Arvind Kejriwal blasted the “biggest beneficiary” of the PM’s massive demonetization drive putting up an ad in his praise. But Paytm chief Vijay Shekhar Sharma held his own. (more…)

Cashless, eWallets, Fintech news, India, Mobile payments/banking

November 14, 2016

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The current Indian Currency Demonetization is not a tectonic change by itself, but has the potential to usher in...

By Rajesh Dhuddu for LTP

The Government of India took a bold decision to demonetize INR 500 and INR 1000 notes and replace them with notes of newer denomination and also introduce notes of INR 2000. This herculean initiative, that involves exchange of Rs 14 lakh crores (USD 206 bn) was trending worldwide on the same scale as US election results. The gigantic effort to replace 2203 crore (22 billion) pieces of currency notes will easily make its entry into Guinness Book of records as the biggest exchange that human history has ever seen or will see in the future. (more…)

Cashless, Government activities, India

November 13, 2016

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274

Prepaid Cards Finally Get Fraud Protection

By Canh Tran for LTP

We knew this was coming when the Federal Reserve issued guidance applying the Customer Identification Program (CIP) to prepaid cards in March of this year. Customers are able to reload prepaid cards, use direct deposit and in some cases, receive overdraft protection, which the federal agency determined enough for it to be considered an account relationship. And now that reloadable prepaid cards are considered an account relationship, it’s not surprising that the Consumer Financial Protection Bureau recently issued new rules requiring fraud protection support for those using them. (more…)

Cashless, Fintech news, Government activities, Security

November 10, 2016

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376

How to Invest in the Credit Card Boom

By  for Fortune

Stronger consumer spending means big profits, especially for these two companies. (more…)

About, Cashless, Fintech news, Payment processors/providers/gateways

November 10, 2016

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343

How the First-Ever Blockchain Platform Aims to Connect the World’s Poor to the Global Economy

By Elena Mesropyan for LTP

With around 2 billion financially excluded people around the world and 232 million undocumented migrants internationally – a large part of which does not have a formal identification document at the new place of residence – a secure and scalable tech-power solution is required to help such a large group build a resilience to hardships.

(more…)

Blockchain, Cashless, eWallets, Fintech news, Mobile payments/banking, PFM/PFP services

November 9, 2016

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Why India took such a drastic step to go cashless

By  for TechInAsia

Higher denomination currency notes of INR 500 (US$7.5) and INR 1,000 (US$15) are suddenly just pieces of paper from today. The Indian prime minister, Narendra Modi, made the shocking announcement in a speech last evening that these notes stand abolished as of midnight. They are no longer legal tender. (more…)

Cashless, Fintech news, India

November 9, 2016

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Russia wants to make new payments system compatible with China

By Finextra

Russia’s prime minister, Dmitry Medvedev, says he wants to make the country’s new payments system compatible with China’s UnionPay as a way to guard against Western sanctions. (more…)

Cashless, China, Government activities

November 5, 2016

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EMV’s marketing benefit should expedite the migration

By Tom Caporaso for PaymentsSource

While the main benefit of chip cards is more security for consumers, which can also work to a retailer’s advantage, particularly if it can make the change quickly. (more…)

About, Cashless, Security

November 2, 2016

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Credit Cards Lose Their Charge

By Neil Howe for Forbes

Earlier this month, Goldman Sachs debuted an online retail servicedesigned to offer loans to consumers searching for an alternative to credit card borrowing. The move adds yet another competitor to an industry already struggling to add new customers. Late in the economic cycle, credit card companies usually rely more on interest payments than on additional debtors. But today’s frozen credit cycle has experts worried that credit cards are experiencing all the costs (defaults) with none of the benefits (revolving interest charges). Worse yet, a large share of Generation-X and Millennial consumers simply doesn’t use or trust credit cards. (more…)

Banks, Cashless, Global trends

November 1, 2016

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245

Prepaid is a force for good for payroll, travel, budgeting

By Michael Fiore for PaymentsSourceFor lots of us, prepaid cards are synonymous with gift cards. But, that’s like saying the internet is limited to online shopping.

(more…)

About, Cashless

November 1, 2016

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ANZ issues debit cards for vision impaired customers

By Finextra

ANZ today became the first major Australian bank to introduce accessible features to debit cards, to help make everyday banking easier, particularly for customers with low vision. (more…)

Banks, Cashless, Fintech news

October 31, 2016

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394

Will Future Payment Methods Get Under Your Skin?

By Sascha Width for LTP

The abolition of cash due to new electronic payment options is on everyone’s radar. More and more banks are issuing contactless cards and the number of merchants accepting Near Field Communication (NFC) cards is growing steadily. (more…)

Cashless, Fintech news, Global trends

October 29, 2016

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277

Contactless a hit at summer festivals

By Finextra

Compared to 2015, there has been a significant increase in the number of festivals where Festipay Zrt provided the cashless payment solution. (more…)

Cashless, Fintech news

October 27, 2016

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Fintech Meets Travel

By

Fintech meets travel! Experts have been talking about this for quite a while now. But is it really happening? In short, it already has! (more…)

About, Cashless, Fintech news, Global trends, Mobile payments/banking

October 24, 2016

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Developers Build Credit, Debit and Prepaid Card Products With Real-Time Access to Open APIs

By LTP

First issuer-processor to offer developers direct access to payment card platform (more…)

Cashless, Fintech news, p2p-payments

October 23, 2016

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Payment Wallet Support App Innovation Wins Ingenico UK App Challenge 2016

By LTP

Ingenico Group, a global leader in seamless payment, is pleased to announce the winner of its 2016 Telium TETRA App Challenge. Participants in the challenge were asked to submit HTML5 application ideas to reinvent convenience at the point of sale. (more…)

Cashless, eWallets, Fintech news, POS/mPOS and online acquiring, SME

October 23, 2016

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Philippines-based mobile payment service Abra joins hands with Codapay

By Yon Heong Tung for e27

With this new deal, Abra users in the Philippines will be able to purchase Steam wallet codes, Skype credit, Amazon gift cards and Battle.net cards by paying with Abra at Codapay’s retail site, Codashop. (more…)

Blockchain, Cashless, Fintech news, Mobile payments/banking, p2p-payments, Remittances

October 22, 2016

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326

Bank of America Partners with Digital Payments Firm

By Bryan Yurcan for American Banker

Bank of America has entered into a strategic partnership with digital payments firm ModoPayments that will give the bank access to Modo’s digital payments hub. (more…)

Banks, Cashless, Mobile payments/banking, POS/mPOS and online acquiring, Remittances

October 21, 2016