Mastercard and The Clearing House partner on tokenization solution — Mastercard — “The Clearing House (TCH) and Mastercard announced they are partnering to enable TCH to provision and manage Mastercard-branded tokens on behalf of banks… The Clearing House will launch its card tokenization solution in the next quarter, and is in the process of extending tokenization to other networks it manages, including Real-Time Payments (RTP).”
Real-time payments
Australian banks to offer real-time payments
Real-time payments to be launched after Australia Day — The Sydney Morning Herald — “The A$1bn project, triggered by a 2012 review of Australia’s payment infrastructure, will mean customers of different banks will be able to make and receive real-time payments, 24 hours a day and seven days a week… It will also allow consumers to arrange payments using their ‘PayID,’ such as a mobile phone number, instead of an account number or BSB. Customers will also be able to include 280 characters of text with a payment, up from 18 now.”
East London gets local currency built on the blockchain
Residents across East London can now make mobile payments at small businesses with a local currency launched by Tel-Aviv-based digital wallet provider Colu which makes use of blockchain technology... More
Nordea Bank: PSD2 will require banks to adopt a ‘totally new way of viewing their customer base’
Significant confusion and a high level of fragmentation can be expected over the next five years as European financial institutions become accustomed to new regulations under the Payment Services Directive (PSD2) which will open the door to new competition within the European payment services market, says Nordea Bank’s vice president of strategic business development, transaction banking and business innovation. More
Mastercard and Visa join ClearXChange
Mastercard and Visa have joined Early Warning’s peer-to-peer network ClearXChange, allowing US consumers to send money to others using their Mastercard or Visa credit and debit cards... More
Capital One joins ClearXChange
Customers of Capital One in the US can now make real-time P2P transactions through Early Warning’s bank-led digital payments network ClearXChange... More
Wells Fargo joins ClearXChange
Customers of Wells Fargo in the US will soon be able to make real-time P2P transactions through Early Warning’s bank-led digital payments network ClearXChange... More
JPMorgan Chase joins ClearXChange
JPMorgan Chase has joined its US rivals in letting its customers transfer money in real time between financial institutions signed up to bank-led digital payments network ClearXChange... More
ICBPI to launch instant payment platform
Istituto Centrale delle Banche Popolari Italiane (ICBPI) is to establish an instant payments solution in the first quarter of 2017 in partnership with Danish payment services provider Nets... More
Seamless authorised to issue electronic money
Swedish mobile payments specialist Seamless has been granted authorisation to issue electronic money by Finansinspektionen, the country’s financial supervisory authority... More
US pilot for real-time payments system
Financial services provider FIS and banking association The Clearing House (TCH) are to pilot a real-time payments system with financial institutions in the US in the first quarter of 2017, with an initial focus on bill payments... More
Santander to offer voice-activated mobile banking
Santander customers in the UK with an Apple iOS device will soon be able to use their voice to interact with their SmartBank mobile banking app in order to make payments, retrieve information such as how much they have spent and perform queries on specific transactions... More
Canada’s Interac debit network launches tokenization service
Canadian debit network Interac has unveiled its own token generation and management service that will enable financial institutions, merchants and its partners to build and manage secure digital payment experiences with support for tokenized digital debit transactions on any device or mobile wallet... More
TCH taps VocaLink to bring real-time payments to the US
Banking association The Clearing House (TCH) has contracted UK payments infrastructure operator VocaLink to develop a national real-time payment service in the US... More
MasterCard extends tokenization platform to clothing, accessories and wearable devices
MasterCard has extended the capabilities of its tokenization service to enable payments to be made using “virtually any device”, including NFC-enabled clothing, jewellery and vehicle keyfobs. “Products will begin rolling out in 2016 in the US,” the payments network says, “with plans to expand to other markets.” More
Eftpos chooses Bell ID for mobile payments in Australia
PARTNER NEWS: Debit card payment network Eftpos is to use Bell ID’s Token Service Provider platform to provide secure tokenization services to the Australian payments industry... More
VocaLink to develop real-time mobile payments for Thailand
UK payment infrastructure operator VocaLink has signed a letter of intent with Thailand’s main interbank payments provider National ITMX to collaborate on the development of a mobile payment solution for banks, consumers and businesses in Thailand... More
ClearXChange offers real-time payments
US bank-led digital payments network clearXchange’s real-time payments system is now available to all member financial institutions, allowing real-time transfers to take place within the same bank or bank to bank... More
BBVA adopts Dwolla for faster payments
US bank BBVA Compass has joined up with Dwolla to offer real-time payments to its account holders for US$0.25 per transaction... More