Category: payments systems

Explore the RegTech Revolution

Welcome to the Google Bank – Your Everyday Banking from Google, NOT a Bank.

Google is the latest tech company trying to get a stronger footprint into financial services. The project is codenamed Cache, and the Alphabet subsidiary is expected to launch a checking account sometime next year. The accounts will be managed by Citibank, and a small credit union at Stanford University. According to Google, Citibank will handle the financial plumbing. In this regard, is…
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9th December 2019 0

For data compliance, banks and payment firms show signs of ‘getting it’

New data protection laws are changing marketing forever for merchants, payment firms and other companies. It started with GDPR, the EU’s landmark privacy regulation that ensured consumers must consent to receive digital communications from corporations. California is next: The California Consumer Privacy Act, modelled largely after GDPR, will go into effect Jan. 1, 2020. As…
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4th December 2019 0

Kaspersky Eyes to Tackle Crypto Crimes That Are Costing the Industry Billions

With the total market capitalization of cryptocurrencies estimated to be more than US$200 billion, it’s evident to industry observers that the crypto industry has been rapidly on the rise in recent times. Inevitably, with the rise, comes bad actors who see it as an opportunity profit from it in unscrupulous ways. In the first half…
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3rd December 2019 0

Revolut launches GBP Direct Debits, providing another key service to customers

Revolut has today launched GBP Direct Debits for all EEA customers with local UK account details, the latest feature added to its global financial retail and business platforms, as it continues to scale and build towards becoming a global bank. The new functionality will utilise Modulr’s Direct Debits Mandate service, adding another essential feature that…
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29th November 2019 0

APEXX announces transformative partnership with eShopWorld

APEXX Global, the first single marketplace for global payments, has today announced a partnership between itself and international Irish cross-border e-commerce giant, eShopWorld. The partnership, which aims to transform the payments process for its clients whilst also reducing associated costs, kicked off with APEXX processing payments for eShopWorld’s Russia based clients. APEXX Global’s co-founder and…
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28th November 2019 0

The Bank of Google

In 1994, Bill Gates said: “We need banking, but we don’t need banks anymore.” So why hasn’t Bill Gates opened a bank? Well, because technology giants don’t really want to be banks. Banking has a lot of the audit and compliance overhead, that tech giants don’t need or want. Big tech companies, Microsoft and GAFAs (Google,…
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19th November 2019 0

Coinfirm partners with Kroll to help users recover lost or stolen crypto

Pawel Kuskowski, CEO at London-based Coinfirm, a company focused on developing regulations technology, or Regtech, for blockchain-based financial assets, estimates that there’s $10 billion in stolen cryptocurrencies. In order to help victims recover their funds, Coinfirm has partnered with cybersecurity firm Krollwire to launch ReclaimCrypto.com. There’s usually no recourse for people who’ve lost their crypto…
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4th November 2019 0

Wirecard launches payment app boon Planet

Wirecard has announced the launch boon Planet, a payment app with neo-banking services. Users can manage their entire everyday financial life within the app and will benefit in the future from additional services such as insurance, mobility, and loyalty features, along with additional financial services. With boon Planet, a fully comprehensive digital bank account can…
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31st October 2019 0

New Zealand just became the first country to legalize salary payments in cryptocurrencies

New Zealand now legally allow companies to pay salaries in cryptocurrency starting September 1, becoming the first nation to do so, according to a Financial Times report. The country requires the preferred cryptocurrency to be pegged to a standard currency and directly convertible into a normal form of payment. This stipulation allows bitcoin to replace…
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4th October 2019 0

AISPs: The Future of Money Management

Business models and tech aside, Open Banking companies look set to change the way we handle our cash Since the European Union introduced the second Payment Services Directive – or PSD2 – in January of last year, there’s been an explosion in the number of new financial technology companies entering the market. In the UK,…
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23rd September 2019 0