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...

Australian banks want access to Apple's NFC chip

Some of Australia's leading financial instituions have joined forces in an attempt to challenge Apple's resistance to letting them offer their own payment services on Apple devices that contain NFC technology. Commonwealth Bank, National Australia Bank, Westpac and Bendingo haved...

North Carolina passes bitcoin bill

North Carolina Governor Pat McCrory recently signed into law a new bill that expands the Money Transmitters Act to include virtual currency. The law defines virtual currency as a "medium of exchange," but not as currency, according to a report by Econo Times. The legislation, H.B.

Seamless granted authorization to issue electronic money in Europe

The Swedish financial supervisory authority has granted Seamless, parent company of mobile wallet provider SEQR, the ability to issue electronic money in the country. Seamless said in a press release the move means SEQR users can send and receive funds worldwide in real time. Under the terms of the authorization, SEQR can also be used by minors.

Mobile operators could win $142 billion or lose big by 2020

If mobile operators are able to overcome certain barriers, they could look at a $142 billion spike in revenue by 2020, according to a new report from DOCOMO Digital and Ovum Research, entitled "Mindset changes and stakeholder collaboration are needed...

UK grants electronic money license to bitcoin company

Boston-based bitcoin company Circle has officially received an electronic money license from Britain. With this license, Circle will be able to work with big banks on money transfers.

Retailers seek further Fed action to lower debit swipe fees

In a letter to the Federal Reserve, the National Retail Federation argued that 24 cents per transaction is still 'substantially higher' than Congress intended.

Western Union expands services in Cuba

The company expects to activate services in a phased approach by end of second quarter 2016.

Sweden's central bank calls for restraint in dash to cashlessness

Riksbank cites 'a high risk' that cash will disappear before alternative means of payment have become widespread, causing financial harm to some Swedish citizens.

US merchants applaud Canadian proposal to cut card fees

The group points to similar reforms in the European Union and Australia and says the same should happen in the U.S.

CFPB: Dwolla misled users about security practices

The agency ordered Dwolla to pay a $100,000 penalty and fix its security practices.

Japan considers making bitcoin legal currency

Japan's Liberal Democratic party is considering changing the laws to define virtual currency as legal currency. With this change, bitcoin and other virtual currencies could be regulated and taxed more closely.

Mobile Payments Today report shows consumers not ready to embrace change

This year's state-of-the-Industry report contains 50-plus pages of charts, comparison data and actionable advice.

Mobile Payments Today seeks editorial contributors, bloggers

We're looking for high-level thought leadership pieces that are free of a marketing pitch.

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