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The World Economic Forum: Disruptive Innovations are Reshaping Financial Services

We have recently come across this impressive document published by the World Economic Forum.  Our members should add it to their list of summer readings.  Especially those members who work in credit information services.  Credit and information are intertwined and whatever happens in the financial services sector will ultimately impact credit information.  Intelligent trading platforms which link buyers and sellers ... Read More »

Payment Security: MIDAS Alliance Launched in Europe

MIDAS Alliance Created to Solve Payments Security Challenges Raised by Mobile Wallet Security industry collaboration seeks to create solution before August deadline for new payment rules. While the introduction of the mobile wallet has created a lot of excitement across the retail and financial services industries, the European Central Bank (ECB) is pushing for greater security standards. When the ECB’s ... Read More »

Alibaba.com Helps SMEs Build Trust in Cross-Border Trade with Trade Assurance

Alibaba enters trade assurance business as a free service to buyers who trade with Alibaba Trade Assurance suppliers Alibaba.com launched Trade Assurance, a free service designed to create trust in trade by giving businesses peace of mind when trading with China.  The ‘ultimate payer’ for the service are customers of Alibaba (suppliers) who qualify as Trade Assurance Suppliers. Through the ... Read More »

Acxiom Selected by GlobeOne for Database Solution

GlobeOne ®, LLC, a financial technology company collaborating with a network of financial institutions around the world, has selected Acxiom® (Nasdaq: ACXM), an enterprise data, analytics and software-as-a-service company to develop a database and processing platform to collect, process, calculate and return data to partner banks in the GlobeOne network. GlobeOne, founded by a community of socially conscious entrepreneurs with experience in the ... Read More »

Rakuten to Accept Bitcoin on Global Marketplaces

Bitnet payment processing provides enhanced security, privacy, and convenience – Rakuten, Inc. announced that it plans to enable customers to choose bitcoin as a payment option by integrating Bitnet’s payment processing platform on a number of its marketplaces. The Internet services giant will begin accepting the new payment method first on Rakuten.com in the US, to be followed by Rakuten.de ... Read More »

Alibaba’s Jack Ma Introduces ‘Pay-With-Selfie’ Technology

Alibaba CEO Jack Ma has been showing off a technology that uses facial recognition to allow you to make payments with a selfie taken with your smartphone.  It’s currently being tested by Ant Financial, an Alibaba affiliate that runs the Alipay payment service.  Mr. Ma unveiled the system at the CeBit conference in Hanover, Germany just as he was about to finish his ... Read More »

Equifax, Zoot Join Forces in All-In-One Mobile Banking Solution for Enhanced Decisioning

MobilityPlus allows consumers to capture a photo of their ID on their smartphone or tablet to assist in auto-filling significant portions of their application, and in a matter of seconds, it performs a search-match analysis to help authenticate the consumer’s identity, and determine whether the device in use may be associated with fraudulent activity. These processes pull in leading, knowledge-based ... Read More »

Bitcoin Exchange Suspension Unlikely to Derail Growth of Digital Currencies

London-based Bitstamp, the second largest exchange for alternative currency Bitcoin, suspended services following a hack that accounted for more than $5 million in losses. Nobody said the rise of digital currency would be a smooth ride.  Proof of that came again this week as one of the oldest, relatively speaking, Bitcoin currency exchanges went offline following a hacking incident. But ... Read More »

Payment Systems:  Creditreform Introduces CrefoPay

Creditreform Germany introduced its new payment system CrefoPay at the recent CeBIT* Convention and Exhibit Center in Hannover.  In making this announcement, Creditreform President Christian Wolfram stated: “CrefoPay is a complete solution for payment processing in online trading.  More and more consumers take advantage of shopping on the Internet – mobile generated sales in 2014 has risen 42% alone in ... Read More »

UPU Adopts Ambitious Work Plan to Adapt to Growth in E-commerce.

In reaction to the phenomenal increase in parcel and small packet traffic in the international system, and the corresponding decrease in letter mail, the UPU’s Postal Operations Council last week adopted a multi-faceted E-commerce program.  This is known by the acronym “ECOMPRO” and calls for an aggressive set of activities.  Five categories of action have been identified: market development, postal electronic services, logistics, ... Read More »

Payment Systems: Borderless Digital Wallet

RBL Bank of India will distribute multi-currency borderless prepaid card of travel firm Thomas Cook through its 185 branches. The card offers travelers the advantage of loading up to eight currencies on a single prepaid card (US dollars, British pounds, euro, Australian dollars, Canadian dollars, Swiss francs, Singapore dollars and Japanese yen), which would provide enhanced access and convenient to ... Read More »

Apple Eyes Pay-by-touch for next iPhone

Apple is working with Dutch chipmaker NXP to add secure short-range wireless technology into the next iPhone, enabling new pay-by-touch capabilities in the latest bid for the smartphone to replace the wallet.   Several people familiar with Apple’s plans say NXP will provide the secure near-field communications chips that will allow an iPhone to connect with payment terminals or ticketing ... Read More »

Rise of Mobile Commerce Fuels Rash of Rival Payment Solutions

If you are in the business of facilitating payment transaction you will know details of buyers and sellers.  Therefore the data will be useful for cross selling.  Key to these transactions will be the correct identity of the parties plus their credit standing, thus credit bureaus will be keen to serve you. People want convenience and low cost transactions.  Take ... Read More »

Hearst Corporation to Acquire 80% Stake in KUBRA Data Transfer Ltd.

B-to-B Investment Puts Hearst in Leading Position to Provide Enhanced Digital Bill Delivery & Payment Services to Customers Across Many Industries Hearst Corporation announced the acquisition of an 80 percent stake in KUBRA Data Transfer Ltd., a leading provider of digital bill delivery and payment services with offices across North America.  The investment puts Hearst in a leading position to provide ... Read More »