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On the Wire: U.S. Bank’s Mobile Milestone; College Card Provider Lands Funding; 4 Million P2P Users in a ‘Jiffy’; More

A snapshot of payments-related press releases is available to you throughout the week.


MoneyGram Board Says Company Can Further Consider Euronet Proposal

Money transfer giant MoneyGram can give further consideration to Euronet’s surprise bid to acquire the company from under the nose of Ant Financial, which in January entered a definitive agreement to buy MoneyGram.


Wells Fargo Faces New Pressure from Top Democrat over Fake Accounts

The top Democrat on the U.S. House Financial Services Committee wants to interview executives from Wells Fargo over a scandal about fake accounts its employees set up for customers. Last year, the CFPB announced a $100 million fine against Wells Fargo for what the agency called “widespread unlawful sales practices.” The agency said the fine was the largest such penalty it has ever issued.


On the Wire: Blackhawk Adds to Board; First Data, Synchrony Make Buys; Mitek’s B2B Move

A snapshot of payments-related press releases is available to you throughout the week.


The Buzz: Chase Pay Makes a Mobile Tech Buy; Bancorp Hires for Compliance; Cachet Prices Public Offering; Fintech Gains Capital; More

See what’s hot on Paybefore.com from last week, including the voting for the Compliance Titans of Payments; Chase Pay’s mobile wallet technology buy; an important Bancorp hire; and payment industry investment trends.


Under Renewed Fire, the OCC Moves Forward with its Fintech Charter Plan

The Office of the Comptroller of the Currency is moving forward with its plan to enable fintech companies to become special purpose national banks (SPNBs), releasing a licensing manual draft supplement which provides guidance on how the OCC “will apply the licensing standards and requirements in its existing regulations and policies to fintech companies applying for [SPNB] charters“ and another document that summarizes public comments about the plan to allow SPNBs for fintech companies. The special purpose charter has no shortage of critics, but perhaps the most vocal—New York State—has turned up the dial on its opposition.


Flywire Crosses into New B2B Payment Verticals

Cross-border payments specialist Flywire is expanding beyond tuition and health care payments to offer B2B payments in several new segments, including travel, luxury goods, publishing, import/export, business/professional services and technology. Flywire already has several deployments of its new services underway, the company tells Paybefore.

P2P open

India to Open Payment Interface, Ease Transactions between M-Wallets

As India’s war on cash wages on, mobile wallets continue to reap the rewards. Although some experts suggested the advent of the Reserve Bank of India’s Unified Payment Interface platform could make mobile wallets obsolete, a new plan for interoperability could be a boon for Paytm, MobiKwik, Freecharge and other mobile wallet providers.


Consumers Are Open to Payment Innovation, But First Improve Existing Tools

Retail transactions promise to become more vocal and mobile in 2017, according to a new U.K. survey report. Even so, the mainstreaming of chat bots and other new tools appears a while off, given the relatively low level of awareness enjoyed by those innovative technologies.


The Bancorp Hires Neurohr to Lead Compliance

With federal and state payments regulation in near-constant flux, compliance strategy continues to be of utmost importance, especially for issuers. Amid this landscape, The Bancorp has named Bill Neurohr to head its compliance operations and serve as the point man for the company’s interactions with regulators.

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