Friday 28 October 2016 | RSS


    Peer-to-peer payments

    News about Peer-to-peer payments.

    French electronic wallets merge to create ‘universal mobile payment solution’

    October 21st, 2016

    French bank BNP Paribas and supermarket giant Carrefour are to merge their Wa! and Fivory electronic wallets to create a “unified, universal mobile payment solution”, allowing customers to make payments, receive loyalty rewards and make… More

    Nordea Bank ditches Swipp for MobilePay partnership

    October 17th, 2016

    Nordea Bank Denmark is ending its support for Swipp, the mobile payment joint venture it formed alongside other Danish banks in 2014, by deciding to “join a partnership” to develop Danske Bank’s MobilePay platform. With the… More

    Mobile-only bank goes live in Germany

    July 26th, 2016

    Mobile network operator Telefónica Deutschland has launched a mobile-only bank in partnership with Fidor Bank in Germany. The service will allow peer-to-peer (P2P) transactions to be made using mobile phone numbers and will come with a Mastercard debit card for in-store and ATM transactions. More

    Capital One joins ClearXChange

    July 12th, 2016

    Customers of Capital One in the US can now make real-time P2P transactions through Early Warning’s bank-led digital payments network ClearXChange. The bank joins Bank of America, US Bank, JP Morgan Chase and Wells Fargo in supporting the service which was made available to all member financial institutions in June 2015.

    ING and KBC to combine mobile payments and loyalty in Belgium

    July 11th, 2016

    ING and Belgian bank KBC are to launch a mobile payment and loyalty platform in Belgium that will combine ING’s Payconiq mobile payment app with loyalty platforms Qustomer and CityLife in a single service. More

    Singapore banks to allow transfers with social media IDs

    July 6th, 2016

    Banks in Singapore are working on a service that would let consumers make payments using their Facebook ID or Twitter username. “The system will allow electronic transfers between account holders who have registered their social media identities with their banks,” The Financial Times reports. “The service will be based on Singapore’s existing internal fund transfer system, known as FAST, which brings together 20 banks to allow near-instant fund transfers.” A pilot is due to take place in early 2017.

    Jiffy signs up more than 350,000 users

    July 1st, 2016

    More than 350,000 Italians have now registered to use Jiffy, the P2P payment service launched by payment processor SIA in October 2014. “The average value of an individual transaction is around €52 (US$58), while transfers under €25 represent 44% of the total,” SIA says. “23 bank groups have joined the SIA P2P payments service since it was launched.” The service added support for in-store payments via QR code last month.

    Wells Fargo joins ClearXChange

    June 28th, 2016

    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. “Beginning August 1, Wells Fargo’s service will allow its customers to send funds in real-time at no cost to any customer of a bank that participates in the real-time service,” the bank says. ClearXChange was made available to all member financial institutions in June 2015. JPMorgan Chase also signed up to the service earlier this month.

    Jiffy payments launches in-store in Milan and Bergamo

    June 23rd, 2016

    Italian consumers are now piloting in-store mobile payments using Jiffy, the person-to-person (P2P) payment service launched by payment processor SIA in October 2014. The service makes use of QR codes at the point of sale. More

    More US consumers open to mobile payments

    June 22nd, 2016

    Two out of five US consumers (40%) have or would use in-store mobile payments, up from 34% in 2015, research from Bank of America reveals. “The majority (57%) of consumers would consider or are already using a P2P money transfer service from their bank,” the bank adds. “Nearly two in three (62%) respondents use mobile or online as their preferred method of banking. More than half (54%) of consumers also say they are active users of a mobile banking app, up from 48% last year.”

    MintChip launches for in-store and P2P payments in Canada

    June 21st, 2016

    Canadians can now use the MintChip virtual currency to send and receive money through a P2P mobile app and make payments at participating merchants in Toronto’s Liberty Village neighbourhood by scanning a barcode. A partnership with… More

    Thai banks to launch P2P payments with PromptPay

    June 20th, 2016

    Fifteen commercial banks and four specialised financial institutions in Thailand are to begin registration for PromptPay, a mobile P2P service developed by Bank of Thailand (BOT) and the Thai Bankers’ Association. “With this new money transfer service, transferees simply need to link their national ID or mobile phone numbers to their accounts for successful transactions,” BOT says. “All banks confirmed their readiness for the official launch of public registration nationwide from July 15, 2016.”

    JPMorgan Chase joins ClearXChange

    June 16th, 2016

    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. “JPMorgan, whose Chase QuickPay product handled US$20bn in P2P transfers last year, began offering the service Sunday after customers requested it,” Bloomberg reports. ClearXChange was made available to all member financial institutions in June 2015.

    Android Pay comes out on top in US survey

    June 14th, 2016

    Android Pay tops the list of the most popular mobile payment services used by US consumers with 19% saying they have made an in-store payment via the service, research from Walker Sands reveals.  More

    ICBPI to launch instant payment platform

    June 7th, 2016

    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. “Based on the very successful implementation of Nets RealTime24/7 solution in Denmark, the ICBPI’s instant payment platform will serve the Italian Payment Service Providers (PSPs),” Nets says. “There will be no limit to the use cases but the focus will be on mobile payments, initially targeting P2P payments.”

    MyPay to launch mobile wallet in Myanmar

    May 24th, 2016

    Customers of mobile financial services provider MyPay in Myanmar will soon be able to make payments using their mobile phone through a new service based on technology from mobile wallet provider Cellum. “Cellum Mobile Next, Cellum’s market-tested mobile commerce wallet, will be available under the MyPay brand,” Cellum says. “The innovative wallet offers the latest functions like payment by QR code, P2P transfers, online checkout, airtime top-up and bill payment. At a later stage, NFC services will also be added.”

    Telefonica and Fidor Bank to launch mobile bank in Germany

    May 13th, 2016

    Mobile network operator Telefonica is to launch a mobile banking service in Germany this summer using technology supplied by Fidor Bank. Customers who sign up for an account will receive an O2 MasterCard for cash withdrawals and shopping, and a mobile app that will allow P2P transfers. “This cooperation is the first disruptive alliance in Germany between a telecommunications company and an innovative digital bank,” says Fidor Bank CEO Matthias Kröner.

    Seamless authorised to issue electronic money

    May 11th, 2016

    Swedish mobile payments specialist Seamless has been granted authorisation to issue electronic money by Finansinspektionen, the country’s financial supervisory authority. “This means that Seqr users can send and receive money, worldwide, in real time,” the company says. “Under the terms of the authorisation, Seqr can also be used by minors. Money received can be accessed instantly to make payments anywhere in the world where NFC payments are accepted.”

    Jetco launches P2P payment service with Gemalto

    May 10th, 2016

    PARTNER NEWS: Hong Kong ATM network Jetco has selected Gemalto’s Ezio Mobile Suite for the launch of its Jetco Pay P2P payment service in conjunction with 12 Hong Kong banks. The service, which will be made available from the Jetco mobile app, will allow users to send and receive funds using mobile phone numbers. Jetco announced its plans to launch the P2P service in January 2016.

    UK businesses to get payment service via Pingit and Paym

    May 10th, 2016

    UK businesses using digital banking solutions provider Bottomline Technologies’ C-Series payments processing module will soon be able to send payments to recipients using only their mobile phone number through the Barclays’ Pingit mobile app or… More

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