The Central Bank of the UAE (CBUAE) has issued a statement strongly encouraging banking customers “to take advantage of digital and online banking services as a measure to protect the health and safety for UAE residents.”... More
“Whenever possible, use cashless payments, contactless and mobile payments,” Georgia’s central bank has urged the country’s citizens... More
Royal Bank of Canada has added new features to its mobile app that make it quicker and easier for customers opening a new bank account at a branch to prove their identity... More
The number of consumers using open banking has doubled in the past six months to more than one million, the UK’s Open Banking Implementation Entity (OBIE) reports, and there are now a total of 204 regulated service providers — up from 100 at the end of 2018... More
Mutual Trust Bank has announced it is to be the first bank in Bangladesh to go live with Bangla QR, an interoperable QR payments system backed by the country’s central bank... More
Tinkoff super-app boosts digital leadership in European fintech space — Tinkoff — “The super-app is both our own version of the App Store, with its own mini apps, and the first WeChat-like app in the Russian or any European financial market, featuring products and services from our partners… External partners can connect to the marketplace (via open API) using the ‘app-in-app’ model and offer targeted products and services within the Tinkoff app.”
Istanbul travel card top-ups are fast, easy, and free with Garanti BBVA’s mobile app — BBVA — “To take advantage of this feature, customers simply need to register their card with the app. They can then add to the balance directly from their Garanti BBVA account, free of charge. Customers can also refill travel cards for friends and family.”
PARTNER NEWS: Iceland’s Arion Bank has added NFC mobile payments to its mobile banking app — a key step, the bank has told What’s New in Payments, towards achieving its goal of ensuring the app’s status as the country’s leading all-in-one mobile financial service... More
Orange Bank launches in Spain — Orange — “Orange Bank in Spain will be 100% mobile based, offering Orange customers a choice of savings account, cheque account, Mastercard debit card, group management, as well as discounts on Orange phone bills.”
Bó — the digital bank to help people do money better — is now live in App Store and Google Play — NatWest — “As we’re part of NatWest, people can rely on Bó to keep their money safe. But as a digital bank, built entirely on a separate cloud-based technology, Bó is also able to harness new technology and develop rapidly in line with our customers’ needs and expectations.”
Bank of America updates Android app to support Pixel 4 face unlock — 9to5Google — “Release notes for version 8.3.11 of Bank of America for Android prominently mentions the ‘Ability to sign in with face unlock (Pixel 4 only)’… After updating, you’ll need to enter your password one more time, and select the ‘Set up biometric sign-in’ checkbox. After completing BofA’s process, Pixel 4 face unlock will work on all subsequent sign-in attempts.”
A new open banking system which is set to cut transaction fees by 90% has now entered pilot testing, Korea’s Financial Services Commission (FSC) has announced... More
Customers of Canada’s CIBC bank can now replace a lost or stolen credit card “in a few simple steps through mobile or online banking and instantly use the new card with their mobile wallet before the physical card arrives”... More
Uber announces deeper push into financial services with Uber Money — CNBC — “The company announced on Monday the formation of a new division called Uber Money to house its efforts, which include a digital wallet and upgraded debit and credit cards. The emphasis, at first, will be expanding Uber’s efforts to give its four million-plus drivers and couriers around the world access to a mobile bank account so they can get paid after each ride. Uber could one day offer a bank account to consumers on its platform, according to Uber Money head Peter Hazlehurst.”
Mastercard has signed up four WHSmith retail brands for Pay by Bank (PbBa), a strong customer authentication-compliant payments service that uses customers’ mobile banking apps and the UK’s faster payments system to let online retailers accept payments direct from shoppers’ bank accounts... More
Apple Pay “has caught the eye of EU antitrust investigators, who have asked payment companies for feedback on the service,” regulatory risk specialist MLex reports... More
PARTNER NEWS: Raiffeisen Bank has launched an Android NFC mobile payments service in Romania and the Czech Republic that uses Antelop Solutions’ digital payments and tokenization platform... More
Mexico’s Cobro Digital national mobile payments platform — known as CoDi — is now live across the country, enabling consumers to make NFC and QR payments via their mobile banking app and letting merchants receive funds instantly with no commission charges to pay... More
UK-based neobank Revolut has implemented a Strong Customer Authentication (SCA) system that lets customers use their mobile banking app to authenticate their contactless card as they get close to reaching the new contactless transaction limit, avoiding the risk of having their card declined when they next attempt to make an in-store purchase... More
Banks are at risk of losing up to 15% of global payments revenue, valued at US$280bn, due to “the growth of digital payments and competition from non-banks”, Accenture predicts — but they also have the opportunity to capture US$500bn in new payments-related revenues “if they adopt innovative business models”... More
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