The Top Payments News Stories in May 2017

I haven’t been posting much recently, most of May was spent preparing for a wedding (not mine!). Anyway creating this payments news summary was a good way to catch up and see what was going on. The spotlight was yet again on Cyber-security (WannaCry), mobile payments went from strength to strength with various deployments (Android Pay, Samsung Pay, AliPay), banks continued to go digital with new offerings and there are plenty of reports to read at your leisure. Check out the following top payments news stories that caught my eye during May 2017:

1. Payments News – Cyber Security

  • Hackers exploit weaknesses in the Signalling System (SS7) – the method used by mobile phone operators to exchange information between one another – to fraudulently authorise payment transfers
  • Macau implements ATM facial recognition to combat Chinese money laundering
  • Barclays launch a £10million UK national digital safety initiative
  • The Hong Kong Securities and Futures Commission has launched a 2 month consultation to combat internet trading hacks
  • WannaCry ransomware attack hits 74 countries
  • Google and PayPal collaborate to make mobile shopping easier for customers by using their fingerprint
  • The BBC trick the HSBC voice recognition security system
  • Bank of England governor Mark Carney is tricked by email prankster
  • Barclays chief Jes Staley is tricked by email prankster

2. Payments News – Mobile Payments

  • Bank of America survey reveals P2P Payments are the New ‘Social Norm’
  • Samsung Pay launches in the UK
  • Payments UK forecast that debit cards usage will overtake cash by the end of 2018
  • Digital payments can facilitate financial inclusion say delegates at the Payments Canada Summit in Toronto
  • AliPay lands in Hong Kong
  • Android Pay arrives in Taiwan and Canada

3. Payments News: Digital / Crypto-currencies

4. Payments News: Banks

5. Payments News: Fintech

  • German and European companies collaborate to create a cross-industry platform for online registration, e-identity and data services
  • KPMG acquire Matchi – a global fintech innovation and matchmaking platform which connects FIs, banks and insurance companies with Fintech companies and solutions worldwide
  • American Express unveil “Amex skill for Amazon Alexa”
  • China’s central bank sets up a fintech committee
  • 6 years after being founded, TransferWise breaks-even
  • Paytm Payments Bank will launch next week!
  • TransferWise will introduce multi-currency accounts
  • WorldPay demo making payments inside as virtual reality world
  • BNP Paribas rolls out virtual reality based services
Thanks for stopping by – Take a look around…!!

6. Payments News: SWIFT

7. Payments News: Reports

That’s it folks! Let me know below if I missed anything important…

Leave a Reply