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07.27.17

SIX Buys girocard Network

Swiss company SIX Payment Services is establishing a larger presence in the German market with its acquisition of the Frankfurt-based girocard network operations.

07.25.17

Ant Financial Forms JV with CIMB Subsidiary for Digital Financial Services

In another step to expand its global footprint and promote financial inclusion, Ant Financial Services Group on July 24 announced it’s entering into an equity joint venture with CIMB Group Holdings Berhad subsidiary Touch ‘n Go Sdn Bhd (TNG). The JV will introduce a “world-class mobile platform for payments and other financial services,” the companies said.

07.24.17

Paysafe to Acquire Merchants’ Choice, Considering $3.7 Billion Buyout Bid

It’s hard to say which is more compelling. On July 21, Paysafe Group plc announced plans to acquire Merchants’ Choice Payment Solutions for $470 million while also considering its own buyout bid from Blackstone and CVC Capital Partners, which the Telegraph reports is worth £2.9 billion (US$3.7 billion).

07.24.17

New Indian SME Digital Bank Open Readies for Launch

India’s SME-focused digital challenger bank Open is getting ready for its mid-August launch with a round of seed funding.

07.23.17

An Ant Can Teach A Big Lesson To U.S. FIs

Ant Financial created the world’s largest money market fund in four years by enabling mobile wallet users to move money to the fund simply within the mobile app. The program’s meteoric rise shows that consumers are willing to adopt financial services from new players and the mobile device can supercharge that consumer shift of assets if incumbents don’t react quickly enough.

07.21.17

Mastercard Triumphs against £14 Billion Collective Action Lawsuit

Mastercard can breathe a sigh of relief as the £14 billion (US$18.15 billion) lawsuit—a collective action over card charges that were passed on to shoppers—has been stopped by the U.K.’s Competition Appeals Tribunal.

07.19.17

U.K. Bans Surcharging, Load Fees Could Be at Risk

The U.K.’s HM Treasury is banning surcharges on credit and debit card payments. For prepaid card providers, the new rules put significant fee income related to card-loading at risk, according to Polymath Consulting.

07.19.17

Episode Six Opens Tokyo Office, Hires Industry Veteran Oko Okamoto

Payments software technology provider, Episode Six is opening an office in Tokyo to meet “the growing demand” for fintech solutions in Asia. The company also announced that payments and finance industry veteran, Oko Okamoto, will oversee Episode Six’s new Tokyo office as general manager.

07.19.17

M-Wallet Roundup: Apple Pay, ANZ, CaixaBank, Starling, Samsung

It’s been a busy week for mobile wallet partnerships. Several companies announced deals to offer mobile wallets to their customers in the U.K., Australia and Europe. Challenger bank Starling says it’s the first in the U.K. to offer in-app provisioning.

07.17.17

mVisa Takes on M-PESA with Free Domestic Mobile Money Transfers

Move over M-PESA, customers of a Visa-led bank partnership in Kenya will be able to send money to each other domestically without paying transaction fees using mVisa, and the payments network has added additional in-store merchant acceptance for the QR-code-based payment method.