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Illinois Regulator Joins Global Virtual Currency Consortium

The Illinois Department of Financial and Professional Regulation has become the first U.S. regulatory agency to join the R3 Consortium, a global partnership of banks and other parties working to develop distributed ledger-based applications for financial services. The agency oversees the regulation and licensing of banks and financial institutions, among other businesses, in the state.

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Do Collect $200 on Android, Don’t Get Out of Gmail

Google has revealed that Android payments can now be made within the Gmail app. Whether it’s splitting a dinner bill or planning a group trip, the service offers a fee-free way to work out the details and settle up without leaving the Gmail app on Android.

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Abu Dhabi, Singapore to Promote Fintech Innovation

The Monetary Authority of Singapore (MAS) and Abu Dhabi Global Market (ADGM) have signed an agreement to assist fintech entrepreneurs and support financial services innovation in Singapore and Abu Dhabi, according to Paybefore sister publication Banking Technology.


Visa Settles with U.K. Retailers in Interchange Lawsuit

Visa Inc. has settled a lawsuit with all but one of the U.K. retailers that were seeking £500 million in antitrust damages stemming from the payments network allegedly overcharging for cross-border interchange.


EU Regulators Propose Central Contact Points for AML/CTF Enforcement

EU banking regulators have unveiled a plan to standardize requirements for payments providers to establish contact points with authorities in various member states in which they operate. The initiative is aimed at improving enforcement of anti-money laundering and counter-terrorist financing measures enacted by the Fourth Anti-Money Laundering Directive.


Mastercard, Transport Authority Test Contactless Cards While Eying Mobile Payments

Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot program enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system. Although the tap-and-go pilot hasn’t begun yet, the next step of enabling consumers to use mobile wallets and wearables already is in the works.


Survey Finds Payment Schemes Worldwide Optimistic, Looking to Cooperate

Developing new services, adopting the latest technologies and collaboration are the top priorities among payment schemes worldwide, according to a new study.


First New Clearing Bank in 250 years Enters U.K. Market

There’s a newcomer on the U.K. challenger bank scene, but it’s not wooing consumers. As a bank for banks, other FIs and fintech companies, ClearBank will offer customers access to U.K. payment systems and core banking technology to support current account capabilities.

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Mastercard Gives its Mobile Payments a Bigger Global Stage

Mastercard significantly will expand the scope and capabilities of its Qkr with Masterpass mobile payment service, the network said Feb. 27. Not only is the technology set to debut in the U.S. and five other countries, but it will now integrate with retail software provider Oracle.


Mogo’s New Prepaid Product Taps into Growing Canadian Market

Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada.

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