13 Nov 2016

  • GSMA releases API definition for mobile money providers 

  • Builds on learning from market leading mobile money services

  • Visa Developer Program rolls out mVisa with OEM Micromax 

  • Udio mobile app users across India, supported by processor Transerv and RDL Bank

  • Equity Bank in Kenya opens APIs to developers 

Sources: GSMA; ...

ACCC to monitor big banks buying Fintechs and blocking collaboration

Includes blockchain monopolization

Banks accused of paying lip service to Fintech collaboration

Cautious response from start-ups

Sources: Reuters; The Coin Telegraph; Australian FinTech; Smart Company

Summary: The ACCC is to monitor the big banks to ensure innovation is not clo...

  • KYC changes to boost fintech sector

  • Productivity Commission ushers in the new ‘data’ age

  • Draft report invites comments by 12th November 2016

Sources: Fintech Business; King & Wood Mallesons

Point of View

The wording in the amended regulations “Anti‑Money Laundering and Counter‑Terrorism Financing Rules Instrument 2007 (No. 1)” is...

  • Six Asia-Pacific countries adopt UnionPay chip card standard 

  • CBA in payments deal with China's Alipay 

  • First Data and Alipay bring Chinese mobile payments to the US

  • PBoC reports significant rise in mobile payments 

  • Non-bank mobile payments in Q2 2016 up 111% year-on-year to 23.35tn yuan

Sources: China Daily; AFR; Pay...

28 Oct 2016

  • Personal data of 550,000 Red Cross blood donors was breached

  • Database dump available in the clear for 2 months

  • Mandatory Data Breach Bill finally introduced into Parliament

  • Individuals could be fined $340,000, organisations up to $1.7m

Sources: CSO; Norton Rose

Point of View

The Privacy Amendment (Notifiable Data Breaches) B...

27 Oct 2016

  • Qualcomm to Buy NXP Semiconductors in USD$47 Billion Dea

  • General Motors, IBM partner to deploy OnStar Go for in-car payments era

  • Chinese IoT device manufacturer recalls products amidst mass DDoS attacks

  • Alibaba and Gemalto work hand-in-hand to secure China’s IoT market

Sources: Bloomberg; The Paypers; SC Media; Gemalto

Poin...

26 Oct 2016

  • Souped-up SIM allows mobile payments where there’s no network 

  • Aims to extend mobile payments to communities without network coverage

Sources: New Scientist

Point of View

The solution, DigiTally project from Cambridge University, utilises a chip to process and authenticate transaction without SMS or network access on electronics that...

  • FIDO Developing mPayment Standard with EMVCo

  • FIDO aim to support CDCVM with authentication standard

  • EMVCo and PCI partner on payment authentication

  • Collaboration to support launch 3DS 2.0

Sources: FindBiometrics; Business Insider

Point of View

At the recent Money2020 show in Las Vegas, the FIDO Alliance announced working wit...

24 Oct 2016

  • MasterCard app lets online shoppers pay with a selfie

  • MasterCard’s "selfie pay" will be coming to Europe next year after trials in the US, Canada and the Netherlands

  • Mastercard and BMO make Fingerprint and ‘Selfie’ Payment Technology a Reality in North America

  • 74% of respondents said biometrics—like fingerprints of selfies—w...

21 Oct 2016

  • Visa Introduces International B2B Payment Solution Built on Chain’s Blockchain Technology 

  • Previewing Visa B2B Connect, near real-time high-value international payments

  • CBA and Wells Fargo combine blockchain and IoT to revolutionise trade finance 

  • Physical IoT supply chain location trigger and distributed ledger for transact...

12 Oct 2016

  • MasterCard Makes Commerce More Conversational With Launch of Chatbots for Banks and Merchants

  • Piloting on Facebook Messenger, aiming for 2017 launch

  • For banks, partnering with Kasisto

  • For merchants, being developed by MasterCard Labs

  • Tribe raises $3 million to bring conversational commerce to video chat

  • Tribe’s cur...

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