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First Internet Bank uses Eyeprint ID biometrics for app

Users of the First Internet Bank (FIB) mobile banking app can now login using Eyeprint ID verification technology, allowing customers to access their bank account with a smartphone camera and an ‘‘eyeprint’’ instead of a username and password. FIB joins a select number of banks that have integrated biometric technology within its payment applications. Available for iOS and Android smartphones, customers… Continue reading >>

Dwolla starts white-label service

Dwolla has launched a “white-label” payments processing service, meaning other businesses and banks can sign on to use Dwolla’s money-transfer system, but won’t have to put Dwolla’s label on it. Dwolla CEO Ben Milne said the white-label service is intended for companies that want to use the money-transfer system Dwolla has built without having to ask others to sign up for a Dwolla account…. Continue reading >>

Real-time cross-border payments – ISO 20022

Real-time cross-border payments might soon be a reality, thanks to the efforts of a new payments industry group. But is there a business case for adopting the ISO 20022 standard? With multiple countries implementing real-time payments initiatives around the globe, interoperability between systems is key. Therefore, the ISO Real Time Payments Group (RTPG), a collection of payments experts brought together… Continue reading >>

Four in ten won’t need cash in ten years time

The latest research from Lloyds Bank on the future of payments shows many people believe they won’t need cash in the near future as they increasingly turn to cards, contactless payments and other new technologies. Over four in ten (43%) agree that contactless payments are the future, whilst a quarter (25%) think that in five years’ time they will no longer… Continue reading >>

Payments UK issues code of conduct

Trade association Payments UK has published an initial code of conduct covering ‘indirect access’ to the UK’s payment systems. The principal aim of the code is to improve the experience of indirect payment service providers by clearly setting out the responsibilities of indirect access providers that have subscribed to the voluntary standard. The code has been developed by Payments UK… Continue reading >>

EVO acquires Citi’s Merchant Acquiring business in Mexico

EVO Payments International (EVO) has announced the successful completion of the purchase of Citigroup’s merchant acquiring business in Mexico, conducted through Banco Nacional de Mexico S.A. (Banamex), a wholly-owned subsidiary of Citigroup. As part of the transaction, Banamex and EVO entered into a 10 year strategic marketing alliance that includes an exclusive referral arrangement covering card acquiring and related products for Banamex’s… Continue reading >>

TSYS signs payments agreement with Metro Bank

TSYS announced that it has signed an agreement to process Metro Bank’s credit and debit card portfolios on TSYS’ TS2 processing platform, as well as provide Metro Bank fraud management services through TSYS Managed Services EMEA. Metro Bank is the UK’s first new high street bank in more than 100 years. It offers personal, business and private banking. Aisling Kane, chief operating… Continue reading >>

India joins Better Than Cash Alliance

India has joined the UN-based Better Than Cash Alliance as it bids to accelerate the country’s migration to electronic payments as part of a more general strategy to boost financial inclusion. The Better Than Cash Alliance was set up in 2012 by a group of development organisations, foundations and private companies, including Citi and Visa, to lobby for a shift… Continue reading >>

How European Issuers can win with Tokenised NFC m-payments

Apple Pay’s 14th July expansion into the UK arrival promises to expand m-payment capabilities into retail locations and greatly increase consumer awareness of the benefits and availability of m-payments. Most of the recent m-payment solutions — including Apple Pay, Android Pay, Samsung Pay and even the Swatch smartwatch — rely on Near Field Communication (NFC) technology and tokenisation. In this… Continue reading >>

UK spend limit on contactless cards lifted

UK consumers will now be able to spend up to £30 using contactless cards after the limit was increased. The limit per transaction for contactless cards, which do not require a PIN or a signature to authorise payment, was previously £20. The move follows a huge rise in the number of people using contactless cards in the UK. Transactions for the… Continue reading >>