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06.21.17

Mastercard, Western Union Designing Digital Solutions for Refugees

Mastercard and Western Union have teamed up to help refugees around the world access goods, services and financial services within refugee settlements. Announced on June 20—World Refugee Day—the partnership will explore ways to use a digital model to serve the more than 65 million people around the world currently displaced from their homes due to political conflict and natural disasters.

06.21.17

PayPal Speeds up Money Transfers

PayPal users in the U.S. will soon be able to speed up money transfers to their bank accounts via eligible debit cards linked to their PayPal account. This new transfer option will be available for a fee of $0.25 per transfer. It will also be available for PayPal’s mobile payment service Venmo.

06.21.17

SoftBank Invests $100 Million in Cybersecurity Firm Cybereason

Cybereason, a Boston-based cybersecurity startup, continues to rake in the cash, with the latest capital infusion coming from SoftBank Corp. The Japanese telecom and Internet service provider has invested $100 million in Cybereason, according to a June 21 announcement.

06.21.17

Top Payments Consultants: Rick Oglesby, AZ Payments Group

Even when serving in senior manager and director roles with the likes of American Express and TSYS early in his career, Rick Oglesby, AZ Payments Group president, always felt he was destined to be a payments consultant. That vision came true in 2011, and you don’t have to spend too much time with him before his love of consultancy work—helping companies succeed while establishing and nurturing relationships—becomes apparent and likely is the reason why he was selected as one of the industry’s Top Payments Consultants.

06.20.17

Wirecard Lends Speed, Functionality to Partner VEON

Amsterdam-based mobile network operator and technology company VEON has partnered with Wirecard AG as part of a global payments and processing agreement. Wirecard, a Germany-based provider of global payments solutions, now manages third-party payments functionality and airtime top-up on VEON’s Internet platform, enabling customers to upload funds and update mobile payment accounts within seconds, according to an announcement.

06.20.17

Report: How Banks Can Beat the Fintech Threat

Facing disruption from fintech providers, traditional banks must embrace APIs and the open-source model to avoid losing their place at the center of consumers’ financial lives, a new report warns. Capgemini’s 2017 World Retail Banking Report polled thousands of retail banking customers around the world to gauge how the rise of fintech-based financial services has changed the game when it comes to banking.

06.20.17

Eight Fledgling Fintech Providers Win Capital with CFSI Awards

Eight fledgling fintech companies have won $250,000 each from the Center for Financial Services Innovation. Each FinLab winner in this third annual competition from the CFSI receives $250,000 in capital, along with resources to test, enhance and scale their products, in part via the expertise of JPMorgan Chase, a founding lab partner.

06.20.17

Executive Profile: One on One with Richard Steggall, Urban FT

Richard Steggall didn’t even set foot in the U.S. until he was approaching 30. So, what prompted the native Aussie by way of London to set up a fintech shop in New York—first as Waspit, then as Urban FT, the SaaS-based digital payments platform he now heads? It was, of course, American optimism.

06.19.17

Tate Takes Reins at NBPCA

Brian Tate has been named president and CEO of the NBPCA, replacing Brad Fauss, who in May stepped down from his role at the helm of the prepaid industry association to join Wirecard North America. Tate has served with the NBPCA since 2013 as vice president of government affairs, helping lead the organization’s legislative and regulatory policy agenda, including managing the federal political strategy and building relationships with policymakers on the national and state levels.

06.19.17

Klarna Enters the ‘Big Time’ with Banking License

Payments provider Klarna has powered up with a full banking license from Finansinspektionen, the Swedish Financial Supervisory Authority. The license enables Klarna to broaden its product portfolio for customers and merchants, according to the company.