Indian government continues push for noncash transactions

India is again stepping up efforts to displace cash with cards for everyday consumer purchases. Last week, the government announced that it will pick up the tab for merchant discount fees on debit card transactions of 2,000 rupees (US$31.16) or...

Study: Merchants to benefit from Europe's PSD2 initiative

Retail companies could become the new face of everyday financial transactions once the Revised Payments Services Directive, known as PSD2, goes into effect in the European Union in January, according to research from Accenture. PSD2 requires banks to grant third-party...

Reserve Bank of Australia concerned about rising merchant costs for contactless payments

The Reserve Bank of Australia is concerned about merchants' rising costs to accept contactless payments as more consumers in the country choose to pay with smartphones, according to local media reports. And the RBA is threatening more bank regulation if...

Fed publishes next steps for improving US payments system

The Federal Reserve has published Strategies for Improving the U.S. Payment System: Federal Reserve Next Steps in the Payments Improvement Journey.

Denmark, Singapore regulatory bodies unite on fintech cooperation

The Monetary Authority of Singapore and the Danish Financial Supervisory Authority have signed a fintech cooperation agreement which aims to help fintech companies in Singapore and Denmark to expand into each other's markets, according to a press release. Representatives from...

Supreme Court decision curtails 'court shopping' by patent trolls

A recent decision by the U.S. Supreme Court could put an end to the practice of shopping for a friendly court by complainants in patent cases. Historically, patent holders have had the ability to select a court likely to favor...

House drops Durbin repeal; retailers ring up a win

The U.S. House of Representatives has dropped wording that would have repealed the controversial Durbin Amendment of the Dodd-Frank Wall Street Financial Reform and Consumer Protection Act voted into law in 2010 under the Obama administration. The amendment imposed caps...

UK authority clears way for MasterCard purchase of VocaLink

The U.K. Competition and Markets Authority has cleared the way for the completion of the planned acquisition by MasterCard of London-based VocaLink Holdings Ltd., according to a press release. The authority has granted final approval for proposed remedies that address...

Australian banks lose decision on Apple Pay

The Australian Competition and Consumer Commission has issued a determination denying authorization to the Commonwealth Bank of Australia, Westpac Banking Corp., National Australia Bank, and Bendigo and Adelaide Bank to collectively bargain with Apple and collectively boycott Apple Pay, according...

UK, Japan to support fintech efforts

The Financial Services Agency of Japan and the Financial Conduct Authority in the U.K. have exchanged letters for a cooperation framework to support innovative fintech companies in each country, according to a press release. The exchange of letters will provide a regulatory referral system for "innovator businesses" from Japan and the U.K.

Mobile Payments Today seeks editorial contributors, bloggers

Mobile Payments Today is seeking editorial content in 2017 from industry thought leaders in the form of contributed articles and blog posts. We're looking for high-level thought leadership pieces that are free of a marketing pitch. Submissions should be between...

Mobile Payments Today publishes new mobile app guide

One of the bigger trends to emerge in 2016 was how payments became a larger focus for retailers as they attempt to keep customers within their app for the entire shopping experience. To that end, Mobile Payments Today is proud...

PayPal chases India's Paytm with copyright suit

PayPal is moving forward with a copyright infringement lawsuit against mobile wallet provider Paytm, claiming that the India-based company's color scheme and logo are too similar to its own. PayPal said in the lawsuit, which the company filed last month...

OCC seeks comment on plan to allow fintechs to seek bank charters

Comptroller of the Currency Thomas J. Curry has announced the Office of the Comptroller of the Currency will consider applications from financial technology companies to become special purpose national banks. Curry has described several reasons for considering special purpose national...

European regulators lay foundation for mobile instant payment products

As tasked by the Euro Retail Payments Board, the European Payments Council has finalized the framework for pan-European instant payment solutions. The SEPA Instant Credit Transfer scheme paves the way for innovative payment products in euros — for example P2P...

Court allows merchants to proceed with EMV case against card networks

District Court Judge William H. Alsup has denied the credit card networks' motions to dismiss B & R Supermarket, Inc., et al.

Alipay, WeChat begin overseas expansion

Two Chinese financial institutions have started their plans to expand overseas as the companies have won approval to operate digital wallets for customers in Hong Kong, according to a report from Bloomberg. Ant Financial and Tencent Holdings received the approval in Hong Kong after a setback earlier this year.

Australian banks continue Apple Pay fight

The Australian Competition and Consumer Commission is continuing to assess the applications for authorization in regards to Apple Pay by five banks in the country after deciding not to grant the banks' request for interim authorization at this early stage...

Mobile Payments Today releases new Mobile Wallet Comparison Guide

Choosing the right mobile wallet can be tricky and time consuming, but we've done the research for you! The 2016 Mobile Wallet Comparison Guide gathers in one spot a compendium of the industry's top mobile wallets, compiling their differing capabilities...

UK competition authority makes banks 'work harder for customers'

The Competition and Market Authority in the U.K. has released a set of reforms intended to "ensure that [bank] customers benefit from from technological advances and that new entrants and smaller providers are able to compete more fairly," according to...

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LG Pay brings more questions than answers