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Safaricom sues Airtel over M-pesa

Safaricom has taken rival telecommunications company Airtel to court on claims that it is infringing on its M-Pesa trademark by including its symbols on its advertising billboards. Safaricom has filed pictures in court that it claims show evidence of Airtel Kenya’s usage of signs that are identical to two of its registered M-Pesa trademarks for the promotion and marketing of Airtel… Continue reading >>

Fintech Investment triples in 2014

Fintech investments continued at a remarkable pace last year, nearly tripling in the US in 2014, according to a new report by Accenture and the Partnership Fund for New York City. The value of fintech investment in the US soared to $9.89 billion in 2014, up from $3.39 billion in 2013. This 191% increase dwarfs the increase in 2013, when fintech… Continue reading >>

Barclays explores the blockchain

Barclays has entered a Proof-of-Concept (PoC) trial with bitcoin exchange Safello, in an attempt to see if blockchain technology can improve its performance financial services sector. In an interview with CoinDesk, Safello CEO Frank Schuil said that the latest news is a huge step for the cryptocurrency, and that the partnership could open the door for more financial institutions in the UK… Continue reading >>

First Data launches Clover Mini POS

First Data has launched a tablet-based mini POS system dubbed Clover Mini. Aimed at small businesses, the Clover Mini is a small POS system that is aimed at competing with Poynt, former Google Wallet lead Osama Bedier’s recently launched point-of-sale. The Mini will accept NFC-based payments from mobile wallets like Apple Pay, Android Pay and even the soon-to-launch Samsung Pay. It… Continue reading >>

MasterCard extends tokenization support for Apps and e-commerce

MasterCard says it will offer tokenization services to merchants with apps, e-commerce, and recurring billing card-on-file programs, further protecting consumers and increasing convenience when storing cards in merchant databases. By expanding its Digital Enablement Services (MDES) to serve merchants’ needs it continues to lead the industry in securing cardholder credentials – no matter where they are stored. To speed and simplify the… Continue reading >>

Mobile biometrics market to reach $35 billion

According to a research conducted by Acuity Market Intelligence annual revenues from mobile biometrics embedded in smart mobile devices will spike from $1.6 billion in 2014 to $34.6 billion in 2020. According to the research, the increase in the mobile biometrics market represents a CAGR of nearly 67% with total forecast period revenues exceeding $117 billion. The report segments the mobile… Continue reading >>

ClearXchange introduces real-time payments in US

ClearXchange, the US bank-owned digital payments network, is rolling out a system that enables real-time bank-to-bank transfers. ClearXchange acts as a clearing house for person-to-person online payments transfer, enabling customers to send funds directly from their bank accounts to the recipients’ using only an email address or mobile phone number. The platform is owned by Bank of America, JPMorgan, Wells Fargo, Capital… Continue reading >>

Banks lose out as half of online banking applications fail

Jumio has launched new research that benchmarks high street banks in their approach to digital account opening. The research report is based on interviews with eight leading high street banks which analyse and benchmark online account opening processes and technologies as banks and wider financial services attempt to reduce the volume of over-the-counter transactions. The common theme to all the banks interviewed… Continue reading >>

Ixaris announce €4m Open Payments Ecosystem project

Ixaris has announced the initial phase of its €4m Open Payments Ecosystem (OPE) project. The pioneering two year project is financially backed by EU Horizon2020 under the Open Disruptive Innovation Scheme (ODI). EU Horizon2020 is the flagship initiative aimed at securing Europe’s global competitiveness and driving success through innovation. The OPE will enable any developer to write payment applications which will… Continue reading >>

Apple Pay comes to the UK in July

Apple Pay is coming to the UK in July, enabling millions of Apple device owners to use the tech giant’s mobile payments service. So far, MasterCard, Visa, eight UK banks and other payment players like First Data have announced support for Apple Pay. MasterCard says that for consumers and merchants alike, every purchase made with a MasterCard using an iPhone… Continue reading >>