Skip to content
Remittance RSS
FTC investigates PayPal’s Venmo
PayPal’s P2P payment service Venmo is under investigation by the Federal Trade Commission. PayPal has acknowledged the situation in an SEC filing: “On March 28th, 2016, we received a Civil Investigative Demand (CID) from the Federal Trade Commission as part of its investigation to determine whether we, through our Venmo service, have been or are engaged in deceptive [...]
The post FTC investigates PayPal’s Venmo appeared first on Payments Cards & Mobile.
Analysis of the SWIFT malware threat
In February 2016 one of the largest cyber heists was committed and subsequently disclosed. An unknown attacker gained access to the Bangladesh Bank (BB) using SWIFT malware. The BB SWIFT payment system reportedly instructed an American bank to transfer money from BB’s account to accounts in The Philippines. The attackers attempted to steal $951m, of [...]
The post Analysis of the SWIFT malware threat appeared first on Payments Cards & Mobile.
Blockchain in banking: disruptive threat or tool?
Blockchain could have widespread potential to disrupt financial intermediaries. This in-depth Morgan Stanley study suggests several misconceptions and identifies 10 hurdles to overcome to make blockchain a reality in banking. The opportunity is clear but the blue sky is too far off to impact its 2017/18e. The pot of gold? Higher efficiencies. It’s early days, but industry heavyweights are sponsoring a wide range [...]
The post Blockchain in banking: disruptive threat or tool? appeared first on Payments Cards & Mobile.
MyBank breaks €1 billion milestone
By 25th April 2016, goods and services worth more than €1 billion will have been paid for with MyBank SEPA Credit Transfer (SCT) since its launch. Amounts paid with MyBank range from €2 to €400,000 and cover a wide range of use cases from consumer- to-business and business-to-business transactions to payments to public administration. MyBank SEPA [...]
The post MyBank breaks €1 billion milestone appeared first on Payments Cards & Mobile.
Switzerland launches ISO 20022 payments architecture
Switzerland is set to launch a new interbank payment system, using the ISO 20022 payments architecture and messaging standard to provide new services to bank and corporate users. After 30 years of operation, the SIC system has been completely redeveloped by market operator SIX on behalf of the Swiss National Bank (SNB) and the Swiss financial [...]
The post Switzerland launches ISO 20022 payments architecture appeared first on Payments Cards & Mobile.
