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Blockchain, blockchain payments, Daily News, IIN, Interbank Information Network, Issuing & Acquiring, Products, Remittance -

75 of the world’s biggest banks are turning to the Interbank Information Network (IIN) a blockchain payments platform to fight the threat of new payments rivals in what will be the regulated banking industry’s largest application of the distributed ledger technology. More than 70 additional banks, including Société Générale and Santander, are joining the Interbank Information [...]

The post Major global banks go mainstream on blockchain payments with Interbank Information Network appeared first on Payments Cards & Mobile.

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AI, Artificial intelligence, Artificial Intelligence (AI), Daily News, Issuing & Acquiring, Products, Regulation, Risk & Compliance -

Artificial intelligence will face a backlash from the public unless researchers and companies make a much greater effort to engage society in its development, one of Britain’s leading scientists has warned. Jim Al-Khalili, professor of physics at Surrey university and incoming president of the British Science Association, said AI was more important than all other [...]

The post Use of artificial intelligence set to face public backlash appeared first on Payments Cards & Mobile.

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AISP, API, Daily News, E-Money, FinTech, Issuing & Acquiring, Open Banking, PISP, Products, PSD2, Worldline -

Worldline has obtained two new licenses, linked to the PSD2, from the National Bank of Belgium enabling the company to become a Payment Initiation Service Provider (PISP) and an Account Information Service Provider (AISP). These licenses will be immediately extended to the other countries in the European Economic Area. The purpose of the revised Payment [...]

The post Worldline obtains its “pan-European” Third Party Provider (TPP) license appeared first on Payments Cards & Mobile.

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AliPay, Ant Financial, Blockchain, Daily News, Issuing & Acquiring, Mobile Remittance, MoneyGram, Processing & Systems, Products, Remittance -

After the disappointment of US regulators blocking its purchase of MoneyGram, Ant Financial has taken a step towards dramatically lowering the cost of remitting money overseas in a move that will, in its initial stages, help the hundreds of thousands of Filipinos working in Hong Kong, who collectively remit about HK$4.4 billion ($561 million) annually [...]

The post Ant Financial fights back from MoneyGram disappointment with rival blockchain remittance service appeared first on Payments Cards & Mobile.

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API, Cloud based banking, cloud computing, cloud payment services, Cyber Security, Daily News, FinTech, Fraud & Security, GDPR, Issuing & Acquiring, Mobile Payments, Open Banking, Processing & Systems, Products, PSD2, Tokenisation -

The financial sector, while forging ahead in other areas of digital transformation, has been relatively slow to adopt the cloud and there has been good reason for it: banks have to deal with highly sensitive data and sharing data storage and compute resources with others could not even be envisaged, let alone adopted. However, just [...]

The post Cloud scalability seduces the financial sector – but there are challenges appeared first on Payments Cards & Mobile.

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