DOCSLIB.ORG

Building a Buffer

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Building a Buffer MONDAY MAY 10, 2021 VOL. 186 No. 88 AMERICANBANKER.COM Follow us on Twitter @AmerBanker Trade groups call on 5 OCC to withdraw CRA rule Organizations representing banks and other Building a buffer financial services firms said implementing Shareholders' equity and loan-loss allowance at Pacific the Office of the Comptroller of the Mercantile have risen over the past year. The company must Currency’s overhaul of the Community keep them above Dec. 31 levels to complete its sale to Banc of Reinvestment Act could be wasteful as California. regulators discuss a new interagency plan to modernize the law. Page 5 See story on page 4 Shareholders' equity Loan-loss allowance Banking groups to 6 Congress: Don’t throw out ‘true lender’ rule $200M Critics say the regulation issued by the Office of the Comptroller Currency is a $17.5M $17.4M $17.1M $150M $17.5M $18.2M gift to predatory lenders. But the trade $155.1M $158.7M $161.3M $147.5M $149.9M organizations warned lawmakers that invalidating it will make it difficult for the $100M agency to create an improved framework in the future. Page 5 $50M Five policy challenges $0 7 awaiting next OCC chief 1Q 20 2Q 20 3Q20 4Q20 1Q 21 The Biden administration may finally be close to naming an acting comptroller of the currency. Source: The company Whoever gets the interim job or is confirmed to run the agency over the longer term will have a lengthy to-do list. Page 6 After crackdown on Chime, Banks seek Biden’s dailybriefing 3 Green Dot trumpets bank status 8 aid after Trump’s It’s “powerful … to be able to use the word 1,000-sanctions-a-year pace Do Wells Fargo, U.S. Bancorp ‘bank’ in our marketing because we are a Wall Street firms have urged the Biden ad- 1 investigations signal legitimate financial institution,” CEO Dan ministration to ease the industry’s burden in a new era at CFPB? Henry said Wednesday. Its rival Chime complying with a flood of financial sanc- The banks disclosed this week that they recently agreed to stop referring to itself tions the U.S. has levied in recent years as a are under scrutiny for conduct that may as a bank in a settlement with California primary tool of foreign policy toward Russia, have harmed consumers. The timing regulators. Page 3 China, Iran and other adversaries. Page 7 raises questions about whether the Consumer Financial Protection Bureau The credit-quality kicker Small businesses under President Biden is poised to bring 4 in the Banc of California- 9 fueling Zelle’s growth more enforcement actions against large Pacific Mercantile deal First-quarter transaction volume rose 61% banks than it did under Trump-appointed About 13% of Pacific Mercantile Bancorp’s from a year earlier as merchants began using Director Kathy Kraninger. Page 2 loans are tied to high-risk sectors such the bank-backed network to accept and as entertainment and food services. The make more payments. Page 8 CFPB investigating company must build shareholders’ equity 2 U.S. Bancorp over or its loan-loss allowance above last year’s As fintechs develop consumer sales practices levels to make sure the sale goes through. 10 ‘super apps,’ are banks The probe is the latest example of the (See chart above.) Page 4 partners or rivals? consumer bureau scrutinizing sales tactics PayPal, Square and other companies are at big banks following the Wells Fargo fake- building multipurpose apps that can access accounts scandal. U.S. Bancorp said it is traditional bank accounts — or make them cooperating fully. Page 3 obsolete. Page 9 MONDAY MAY 10, 2021 AMERICANBANKER.COM PAGE 2 highest total in the bureau’s history, the complaints, internal fraud and sales practices LAW AND REGULATION penalties that it collected were less than 20% conduct, according to regulatory filings of those collected in the agency’s peak year, by the company. The $553.8-billion asset in large part because many of the companies company also has a sales practices oversight Do Wells targeted were relatively small. policy that is designed to ensure a unified But the agency’s recent enforcement approach across the company to prevent or Fargo, U.S. record is nuanced. Sales practices, which otherwise detect sales misconduct, it said in landed Wells Fargo in trouble starting in 2016, a report published last year. are one area where the agency’s scrutiny of The CFPB declined to comment on the Bancorp big banks has spanned both Republican and investigation. Democratic administrations. In 2019, the CFPB opened a civil investigations In a securities filing on Tuesday, investigation into Bank of America to U.S. Bancorp revealed that it is under determine whether the Charlotte, North investigation by the CFPB regarding “certain Carolina, company violated federal law signal a new of the company’s consumer sales practices.” by opening credit card accounts without The Minneapolis-based firm disclosed customers’ knowledge. That investigation era at CFPB? that it “has responded and continues began during Cordray’s tenure. to respond to the CFPB.” It added that Last year, the consumer bureau sued By Kevin Wack and Allissa Kline it is “cooperating fully with all pending Cincinnati-based Fifth Third Bancorp May 07, 2021 examinations, inquiries and investigations, for allegedly opening customer accounts Wells Fargo and U.S. Bancorp disclosed any of which could lead to administrative or without their authorization between 2010 this week that they are under investigation by legal proceedings or settlements.” through 2016. That case is expected to go to the Consumer Financial Protection Bureau A U.S. Bancorp spokesperson said in an trial in 2022 or later, unless a settlement is over conduct that may have harmed their email Thursday that the company cannot reached. customers. provide additional information because of Since 2018, the CFPB has reached The disclosures, which came in quarterly the confidential nature of supervisory work. settlements with TCF Financial and TD Bank securities filings, do not make clear whether “It is important to note that due to their Group in connection with the marketing and the investigations began under Presidents complex nature, regulatory exams, inquiries sale of overdraft services. And in November, Trump or Biden, and in Wells Fargo’s case, and investigations often take some time Regions Financial disclosed that it was the probe involves business practices that before they are resolved,” the statement read. responding to a civil investigative demand first attracted public scrutiny in 2019. After the Wells Fargo fake-accounts from the CFPB over certain overdraft policies Still, the timing of the disclosures raises scandal broke in 2016, then-U.S. Bancorp and practices. questions about whether a shift is taking CEO Richard Davis said that the company In Wells Fargo’s latest regulatory place at the agency charged with protecting did not impose sales quotas on its bankers disclosure, the company revealed that consumers from financial abuses. and had “never, ever” looked at cross-sell it is under investigation by the CFPB Legal observers have been expecting the ratios. in connection with past disclosures to consumer agency to focus more attention on U.S. Bancorp has a conduct risk committee consumer deposit customers regarding the enforcement, and particularly enforcement that oversees the risks associated with ethics minimum debit card usage that was required cases against big banks, during the Biden administration than it did under Trump- appointed Director Kathy Kraninger. Established 1836 One State Street Plaza, 27th floor, New York, NY 10004 Cases against large banks have the Phone 212-803-8200 AmericanBanker.com potential to make a bigger impact than those against smaller firms, argued Chi Chi Wu, Editor in Chief Alan Kline 571.403.3846 Copy Editor Neil Cassidy 212.803.8440 a staff attorney at the National Consumer Managing Editor Dean Anason 770.621.9935 Law Center. “I think it’s certainly our hope, Reporters/Producers and maybe somewhat our expectation, that Executive Editor Bonnie McGeer 212.803.8430 Laura Alix 860.836.5431, Kate Berry 562.434.5432 the CFPB would not continue Kraninger’s Washington Bureau Chief Joe Adler 571.403.3832 pattern of going after small fish,” she said. Executive Editor, Technology Miriam Cross 571.403.3834 The CFPB delivered more than $10 billion Penny Crosman 212.803.8673 Jim Dobbs 605.310.7780 of relief to consumers in 2014 and 2015, but BankThink Editor Rachel Witkowski 571.403.3857 it collected less than $3 billion over the next John Heltman 571.403.3847, Allissa Kline 716.243.2679 Community Banking Editor Paul Davis 336.852.9496 five years combined, spanning the tenure of Hannah Lang 571.403.3855 both Obama-era Director Richard Cordray Contributing Editor Daniel Wolfe 212.803.8397 John Reosti 571.403.3864, Gary Siegel 212.803.1560 and his Trump-era successors. Digital Managing Editor While the Kraninger-led agency brought Christopher Wood 212.803.8437 Kevin Wack 626.486.2341 48 enforcement actions last year, the second- For up to date and complete coverage go to AmericanBanker.com MONDAY MAY 10, 2021 AMERICANBANKER.COM PAGE 3 to receive a waiver of monthly fees. according to a securities filing this week. Wells stated in 2019 that it was reviewing U.S. Bancorp said that it “has responded FINTECH past disclosures regarding the minimum and continues to respond to the CFPB.” debit card usage that was necessary to avoid The Minneapolis-based company added paying monthly fees, and that it expected to that it is “cooperating fully with all pending After make refunds to affected customers. But it examinations, inquiries and investigations, did not reveal the CFPB investigation until any of which could lead to administrative or crackdown on Wednesday.
Load more

Recommended publications
  • The Future of Financial Services: How Work Is Impacted by the Connection and Convergence of People and Technology
    The future of financial services: how work is impacted by the connection and convergence of people and technology 1 willistowerswatson.com Select Article Foreword Mary O’Connor, Head of Client, Industry and Business Development and Global Head of Financial Institutions, Willis Towers Watson The future of work in financial institutions 1 Ravin Jesuthasan, Managing Director and Global Practice Leader, Talent and Reward, Willis Towers Watson The algorithmic future of regulation 2 Professor Philip Treleaven, Director of the UK Centre for Financial Computing & Analytics and Professor of Computing at University College London (UCL) Using technology to help rebuild trustworthiness the insurance industry 3 Jagdev Kenth, Director of Risk & Regulatory Strategy, Financial Institutions Group and Grace Watts, Executive, Global Industries, Willis Towers Watson 4 Redefining negotiation: a social process in which we can all excel Ali Gill, board reviewer, psychologist and coach specialising in board effectiveness, behaviour and culture Game on: the potential for gamification in asset management 5 David Bird, Head of Proposition Development, LifeSight, Willis Towers Watson The future of leadership 6 Gemma Harding and Hannah Mullaney, Managing Consultant, Saville Assessment The future of wellness programmes 7 Rebekah Haymes, Senior Consultant and Gaby Joyner, Director, Willis Towers Watson Cyber risk: it’s a people problem, too 8 Adeola Adele, Director, Integrated Solutions & Thought Leadership, Global Cyber Risk and Michael O’Connell Head of Financial
    [Show full text]
  • Participant List
    Participant List 10/20/2019 8:45:44 AM Category First Name Last Name Position Organization Nationality CSO Jillian Abballe UN Advocacy Officer and Anglican Communion United States Head of Office Ramil Abbasov Chariman of the Managing Spektr Socio-Economic Azerbaijan Board Researches and Development Public Union Babak Abbaszadeh President and Chief Toronto Centre for Global Canada Executive Officer Leadership in Financial Supervision Amr Abdallah Director, Gulf Programs Educaiton for Employment - United States EFE HAGAR ABDELRAHM African affairs & SDGs Unit Maat for Peace, Development Egypt AN Manager and Human Rights Abukar Abdi CEO Juba Foundation Kenya Nabil Abdo MENA Senior Policy Oxfam International Lebanon Advisor Mala Abdulaziz Executive director Swift Relief Foundation Nigeria Maryati Abdullah Director/National Publish What You Pay Indonesia Coordinator Indonesia Yussuf Abdullahi Regional Team Lead Pact Kenya Abdulahi Abdulraheem Executive Director Initiative for Sound Education Nigeria Relationship & Health Muttaqa Abdulra'uf Research Fellow International Trade Union Nigeria Confederation (ITUC) Kehinde Abdulsalam Interfaith Minister Strength in Diversity Nigeria Development Centre, Nigeria Kassim Abdulsalam Zonal Coordinator/Field Strength in Diversity Nigeria Executive Development Centre, Nigeria and Farmers Advocacy and Support Initiative in Nig Shahlo Abdunabizoda Director Jahon Tajikistan Shontaye Abegaz Executive Director International Insitute for Human United States Security Subhashini Abeysinghe Research Director Verite
    [Show full text]
  • INTERNATIONAL PAYMENTS Moving with the Money
    INTERNATIONAL PAYMENTS Moving With the Money MEDICI powered by LTP FinTechs’ Global Knowledge Network 02 TABLE OF CONTENTS INTERNATIONAL PAYMENTS MOVING WITH THE MONEY Executive Summary 03 Introduction 05 Challenges in Wire Transfer 09 Correspondent Banking Problems 14 Introduction to InstaReM 22 © Let’s Talk Payments, LLC | Copying or distribution without written permission from Let’s Talk Payments is prohibited 03 EXECUTIVE SUMMARY • LTP has always had a great interest in exploring the opportunities and challenges in the space of international payments as it is one of the largest business segments of the global financial services industry and one which is being disrupted by the rise of FinTech. • The international payments market is dominated by banks and MTOs (money transfer operators), with the non-cash segment being governed by the existing system of SWIFT-based wire transfers. • The segment represents a massive market, great opportunities, and very promising players. However, there have been some recent developments in the area of correspondent banking relationships; they’re being affected by the changing regulations and increasing concerns on money laundering and terror financing. • In this report, we discuss some of the major challenges and loopholes in the existing wire transfer process of making international payments with a focus on recent developments. • Through our study, we address the reasons why wire transfer-based payments are gradually losing their shine among modern-day consumers. We highlight the problems faced by banks and present a solution for them to recapture their share of the market through collaboration with one of the leading FinTech startups. • Our research has been funded by InstaReM, but the views expressed in this paper are those of Let’s Talk Payments, reflecting our independent analysis.
    [Show full text]
  • List of Notifications of Electronic Money Institutions
    LIST OF NOTIFICATIONS OF ELECTRONIC MONEY INSTITUTIONS 28 December 2020 List of notifications of electronic money institutions Electronic money Competent Activities relating Payment services1 Date of institution national authority to issuance of receipt of the electronic money notification Paysafe Financial Financial Services - issuing / 05/05/2011 Services Limited2 3 Authority (GBR) - distribution 5. 17/08/2012 - redemption 6. 02/04/2014 1., 2., 3., 4.,7 17.11.2015 Kalixa Pay Limited4 Financial Services - issuing 1., 2., 3., 4., 5., 6. 06/05/2011 Authority (GBR) - distribution - redemption APS Financial Financial Services - issuing / 06/05/2011 Limited Authority (GBR) - distribution - redemption Google Payment Financial Services - issuing / 06/05/2011 Limited Authority (GBR) - redemption Smart Voucher Financial Services - issuing 6. Limited5 Authority (GBR) - distribution 18/05/2011 - redemption Euronet 360 Finance Financial Services - issuing / 18/05/2011 Limited 6 Authority (GBR) - distribution 1., 2., 3., 4., 5., 6., 7. 14/10/2011 - redemption PSI-Pay Limited Financial Services - issuing 1., 2., 3., 4., 5., 7. 18/05/2011 Authority (GBR) - distribution 1., 2., 3., 4., 5., 6. 21/08/2018 - redemption (PSD2) ClickandBuy Financial Services - issuing / 30/06/2011 International Limited7 Authority (GBR) - redemption 1 Payment services as cited by number of payment service in first paragraph of Article 5 of ZPlaSS which implements the Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services
    [Show full text]
  • Ach Transfer Full Form
    Ach Transfer Full Form Arrogant and triecious Tyrus disseats some Necker so imploringly! Clawless Paige sprawls bellicosely or disjoin unassumingly when Etienne is asleep. Barret is henceforward chunky after bathetic Erhard sulphur his rompishness afield. What is ACH Nacha. By usa today with full form find out of all legitimate wire transfer is completed in. But wire transfers are some form is required, they generally processed. Electronic fund transfer Electronic fund transfers EFT move funds from external bank cut to another chase account fast within in same financial institution or along two different banks. About ACH Payments. ACH stands for Automated Clearing House Network ACH transactions transfer medium and information from former bank want to another. EFT vs ACH The difference between EFT Payments and ACH Tipalti. What impact an Automated Clearing House ACH Debit The ACH debit method allows you transmit transfer funds by authorizing us the particle to electronically debit. In this site or in the test? Select the Receiver and ACH account select the dropdown enter the batch transfer details Specify transaction amount in INR for fixed Rupee rate we will be. ACH stands for Automated Clearing House a US financial. The form of transferring your accountant reviewer how long form to platform to invest time. Payment Methods ConocoPhillips Vendor Relations. When your completed authorization form is received by the worry for. You remove your forms menu items like. But wires to process is a form for the forms of a social security procedure such as a comprehensive guides and underlying funds to. Citi has been providing high-quality Automated Clearing House ACH Payment and Receivables Solutions to our clients for really two decades We land a full.
    [Show full text]
  • Foreign Currency Conversion Services Inquiry
    Foreign currency conversion services inquiry Final report July 2019 accc.gov.au Australian Competition and Consumer Commission 23 Marcus Clarke Street, Canberra, Australian Capital Territory, 2601 © Commonwealth of Australia 2019 This work is copyright. In addition to any use permitted under the Copyright Act 1968, all material contained within this work is provided under a Creative Commons Attribution 3.0 Australia licence, with the exception of: the Commonwealth Coat of Arms the ACCC and AER logos any illustration, diagram, photograph or graphic over which the Australian Competition and Consumer Commission does not hold copyright, but which may be part of or contained within this publication. The details of the relevant licence conditions are available on the Creative Commons website, as is the full legal code for the CC BY 3.0 AU licence. Requests and inquiries concerning reproduction and rights should be addressed to the Director, Content and Digital Services, ACCC, GPO Box 3131, Canberra ACT 2601. Important notice The information in this publication is for general guidance only. It does not constitute legal or other professional advice, and should not be relied on as a statement of the law in any jurisdiction. Because it is intended only as a general guide, it may contain generalisations. You should obtain professional advice if you have any specific concern. The ACCC has made every reasonable efort to provide current and accurate information, but it does not make any guarantees regarding the accuracy, currency or completeness of that information. Parties who wish to re-publish or otherwise use the information in this publication must check this information for currency and accuracy prior to publication.
    [Show full text]
  • The Future of Payments in Asia
    Literature title Literature Global Banking Practice The future of payments in Asia November 2020 Introduction Payments have never been as important to Asia’s financial services ecosystem as they are today. Asia has outpaced all other regions in terms of payments-revenue growth over the past several years. The region is also the largest contributor to global payments revenue, generating over $900 billion in 2019, nearly half the global total. The role of payments in Asia’s overall banking landscape has expanded as well, now representing 44 percent of aggregate banking revenues, compared with a third as recently as 2007. The dollars involved tell only a fraction of the story, however. Payments remain the bedrock of the customer relationship for both consumers and businesses, representing the most natural opportunity for ongoing engagement, keeping the institution’s brand top of mind, and creating a practical reason to keep a healthy level of funds on account. Payments have never been more important for traditional banks, longstanding service providers, and fintech innovators aiming to disrupt the status quo. The global effects of COVID-19 prompted a reset in the payments ecosystem. In most cases, the result was an acceleration of trends—such as increased digitization—that were already underway. Although we forecast a decline of 1 to 8 percent in Asia’s 2020 payments revenue, the industry’s solid foundation is poised to foster a relatively rapid return to mid-to-high single- digit growth rates. Asia’s payments sector remains well positioned to exceed $1 trillion in annual revenue by 2022 or 2023.
    [Show full text]
  • Best Way to Pay an International Invoice
    Best Way To Pay An International Invoice If lushy or differential Enrique usually whipsawing his impasses underexposes mitotically or synthesize disappointingly and all-fired, how indemonstrabilityprogressional is Rick? spire Bubbacounterbalance is weepiest: reflexively. she jeopardises insidiously and subs her coths. Punch-drunk Skippy ogles, his Get the rate because it will potentially be confirmed and great way to look into a percentage from students to Your payments are taken just transactions but sincere way to nurture their business relationships. TOP Vanuatu Vatu VUV Vietnam Dong VND Wallis and Futuna Islands. So make sure all company in that best way to pay an international invoice for those who to? Our International Payments service is fast easy and rustic way to transfer with overseas All online transfers to international bank accounts are there fee-free. The Ultimate bitch to Invoicing and this Paid Online Due. Options to accept payments on PayPal including invoicing website payments. The details of shit person receiving the payment including their breach and address their International Bank swift Number IBAN or instance number movie name. Alternative payments Wikipedia. Do an internet bank fees will pay for using your way to overseas, card acceptance would obviously, subtotal plus more days the best way to pay an international invoice i used banamex which can i enter your policy. Sending and Receiving International Payments Wells Fargo. Caution in this method of adverb is available with anyone sent a. International foreign exchange charges from another bank Know precisely how. Do international buyers trust your chosen solution unless that solution. Using Online Invoicing Services From woman the natural way before bill international clients is by sending an online invoice Unfortunately this approach gets a.
    [Show full text]
  • FINANCIAL SERVICES ADVISOR a PUBLICATION of the DIALOGUE June 3-16, 2021
    LATIN AMERICA ADVISOR FINANCIAL SERVICES ADVISOR A PUBLICATION OF THE DIALOGUE www.thedialogue.org June 3-16, 2021 BOARD OF ADVISORS FEATURED Q&A TOP NEWS Ernesto Armenteros Vice Chairman of the Board, BANKING Banco de Ahorro y Crédito Unión How Could Leftists Cuba to Pablo Barahona President & COO, Temporarily Stop Global Retail Markets West, Liberty Mutual Group Change Chile’s Allowing U.S. Cash Felipe Carvallo Bank Deposits Vice President - Analyst Latin America Banking Pension System? Cuba’s government said it would Moody’s Investors Service temporarily stop allowing cash Richard Child bank deposits in U.S. dollars, CEO, though it said it would continue Mattrix Group allowing money transfers. Michael Diaz Jr. Page 2 Partner, Diaz, Reus & Targ FINANCIAL TECHNOLOGY Ernesto Fernández Holmann Chairman of the Board, Brazil’s Nubank Ayucus Rich Fogarty Raises $750 Mn Managing Director, in Funding Round Alvarez and Marsal Brazilian digital bank Nubank Desiree Green Protesters, including the ones pictured from 2019, for years have demanded changes to Chile’s announced it raised $750 million Vice President, pension system. The rewrite of the country’s constitution may include such changes. // File International Government Affairs, Photo: Contramet. in its latest investment round, Prudential Financial which was led by U.S. business Laura Güemes Cambras Among the major changes that could emerge from a new magnate Warren Buffett’s Berk- Transactions Attorney, constitution in Chile is a reform of the country’s pension shire Hathaway. Holland & Knight Page 2 system. The current constitution gives the private sector a Earl Jarrett Chief Executive Officer, Q central role in managing pensions for millions of Chileans.
    [Show full text]
  • Disbursements Tracker™
    NOVEMBER 2017 Disbursements Tracker™ Helping Fitness Professionals FLEX THEIR PAYMENT MUSCLES How Fitli is helping personal trainers get pumped about payments services powered by – Page 6 (Feature Story) #KillTheCheck: Only 4.4 percent of consumers consider the check to be a satisfactory payment method, according to the recent PYMNTS Disbursements Satisfaction Index – Page 12 (News and Trends) The top players in the disbursements ecosystem – Page 21 (Provider Directory) ™ Disbursements Tracker Table of Contents WHAT’S INSIDE The latest data from PYMNTS and Ingo Money shows low satisfaction for the paper check’s role in payments. To that end, several companies in various industries — including insurance, on-demand and lending platforms — are adopting 03 new push payment solutions to quickly exchange funds and reduce the paper check’s role in payments. FEATURE STORY John Cline, CEO and founder of fitness management solution Fitli, explains how the software helps fitness professionals get paid quickly for their services, manage their time and track their revenues — plus, the “chicken or the egg” dilemma of 06 creating a fitness-based marketplace. DEEP DIVE A data-rich look at how tax filers in the U.S. prefer to receive their annual returns, and how the direct deposit method of 10 payment delivery can open new doors to economic inclusion. NEWS AND TRENDS The latest headlines from around the space, including a look at new push payment solutions for gig workers, SMB loans 12 and insurance claims. DISBURSEMENTS FRAMEWORK AND ECOSYSTEM A breakdown of the types of disbursements used to exchange funds, the various entities that employ them and the 17 networks that support them.
    [Show full text]
  • Ripple and Blockchain Look to Finally Achieve Legitimacy Country Surveys Insight Research
    www.electronicpaymentsinternational.com Issue 376 / octoBER 2018 HEADING TO THE MAINSTREAM RIPPLE AND BLOCKCHAIN LOOK TO FINALLY ACHIEVE LEGITIMACY COUNTRY SURVEYS INSIGHT RESEARCH Analysis and key payment The challenge has evolved The worldwide non- market data for Iran, from managing liquidity to cash transaction volume Uruguay and Azerbaijan managing velocity continues to grow EPI October 2018 376.indd 1 22/10/2018 12:06:12 contents this month COVER STORY NEWS 05 / EDITOR’S LETTER RIPPLE AND 06 / DIGEST • Amex launches new service to BLOCKCHAIN accelerate supplier payments • BK Global Consortium to buy $353m crypto stake • WorldPay expands real-time payout service to over 50 countries • PayPal teams up with Walmart to offer cash services • Norway’s Vipps taps Inside Secure for mobile contactless payments • Allied Wallet adds AI features to payment gateway • Fitbit, Mastercard to launch Fitbit Pay in Thailand • Western Union launches high-value UK account-to-account transfers • Westpac introduces mobile cheque deposits 11 • Starling Bank Marketplace adds mobile phone insurance • Fujitsu launches biometric payments Editor: Group Editorial Director: Director of Events: Douglas Blakey Ana Gyorkos Ray Giddings • Square targets businesses with +44 (0)20 7406 6523 +44 (0)20 7406 6707 +44 (0)20 3096 2585 instalment payment service [email protected] [email protected] [email protected] Senior Reporter: Sub-editor: Head of Subscriptions: Patrick Brusnahan Nick Midgley Alex Aubrey +44 (0)20 7406 6526 +44 (0)161 359 5829 +44 (0)20 3096 2603 [email protected] [email protected] [email protected] Junior Reporter: Publishing Assistant: Sales Executive: Briony Richter Mishelle Thurai Jamie Baker +44 (0)20 7406 6701 +44 (0)20 7406 8633 +44 203 096 2622 [email protected] [email protected] [email protected] Customer Services: +44 (0)20 3096 2603 or +44 (0)20 3096 2636, [email protected] Financial News Publishing, 2012.
    [Show full text]
  • Transferwise's Low-Cost Model Scores a Transfer
    www.electronicpaymentsinternational.com Issue 377 / novemBER 2018 WORLD LEADER TRANSFERWISE’S LOW-COST MODEL SCORES A TRANSFER MARKET HIT COUNTRY SURVEYS INSIGHT ANALYSIS Analysis and key payment The ‘good guys’ need to The EWPN’s Miranda market data for Croatia, innovate at the same pace McLean on gender diversity Thailand and New Zealand as the fraudsters in financial services EPI November new 2018 377.indd 1 29/11/2018 16:26:48 contents this month COVER STORY NEWS 10 05 / EDITOR’S LETTER 06 / DIGEST • Google Pay launched for New Zealand online merchants • Visa takes minority stake in payments firm Billdesk • SmartPesa unveils softPOS in South East Asia • Swiss banks probed over alleged Apple and Samsung Pay boycott • Westpay payment terminals introduced on Android • CYBG, Worldpay sign payments partnership • Mastercard opens payments tech hub in Australia • Amazon pumps $30m into payments arm in India • Grab and KBank partner in Thailand • Starling Bank partners with Post TRANSFERWISE Office • TransferWise secures £65m investment Editor: Group Editorial Director: Director of Events: Douglas Blakey Ana Gyorkos Ray Giddings • MoneyGram fined $125m for AML +44 (0)20 7406 6523 +44 (0)20 7406 6707 +44 (0)20 3096 2585 lapses [email protected] [email protected] [email protected] Senior Reporter: Sub-editor: Head of Subscriptions: Patrick Brusnahan Nick Midgley Alex Aubrey +44 (0)20 7406 6526 +44 (0)161 359 5829 +44 (0)20 3096 2603 [email protected] [email protected] [email protected] Junior Reporter: Publishing Assistant: Sales Executive: Briony Richter Mishelle Thurai Jamie Baker +44 (0)20 7406 6701 +44 (0)20 7406 8633 +44 203 096 2622 [email protected] [email protected] [email protected] Customer Services: +44 (0)20 3096 2603 or +44 (0)20 3096 2636, [email protected] Financial News Publishing, 2012.
    [Show full text]