The Best Payments News Stories in January, 2017

Okay, this is a bumper edition of the best payments news stories in January, 2017. There has been plenty happening at the start of 2017; AliPay or Ant Financial is freely expressing its global ambitions, India is going digital with blockchain and digital payments initiatives, banks are embracing various technologies while at the same time struggling with legacy, fintech gets robotic and machine learning, there are a couple of cybersecurity incidents and there is a deluge of financial services related reports. Check out the following top payments news stories for January 2017:

1. Payments News – Cyber Security

  • National Australia Bank accidentally sends customer bank account details to a ‘bad’ email address
  • Prof Richard Benham predicts a major bank will fail as a result of a cyberattack in 2017
  • US data breaches in 2016 reach an all time high, up 40% from 2015 according to a report by Identity Theft Resource Center (ITRC) and CyberScout
  • The FT reported that an international criminal gang brought down digital services at Lloyds earlier this month

2. Payments News – Mobile Payments

  • Paytm recieves permission from Reserve Bank of India to launch Paytm Payments Bank
  • Daimler Financial Services buys PayCash in preparation for a Mercedes Pay launch!
  • AliPay aims for 2 billion customers in 10 years
  • AliPay or Ant Financial – Alibaba’s payments arm – aims to have 2 billion customers in 10 years
  • Ant Financial buys MoneyGram for $880m

3. Payments News: Digital / Crypto-currencies

  • YES Bank implements a blockchain vendor financing solution
  • India’s Axis Bank will use Ripple’s network for cross border transactions
  • Deloitte launches Blockchain Lab in New York
  • 7 European banks join forces to develop a blockchain based trade finance platform called Digital Trade Chain
  • Nasdaq build and conduct a successful proof of concept e-voting blockchain platform trial at their Estonia Tallinn

4. Payments News: Banks

  • Cash withdrawals hit a record high leading up to Christmas
  • Commerzbank launches #openspace – a digitalisation platform for SMEs
  • HSBC creates tech advisory board
  • HSBC cut back branch network, and move IT jobs offshore
  • Rabobank partners with ACI Worldwide to implement real time payments
  • DBS Bank’s POSB launches online chat banking on Facebook Messenger
  • Starling Bank joins Faster Payments as a direct partner
  • the Post Office and UK banks link up to provide local banking services
  • Citi launches Mobile-PASS, an app-based mobile login solution for Citidirect BE – to be rolled out in Asia Pacific

5. Payments News: Fintech

Thanks for stopping by – Take a look around…!!

6. Payments News: SWIFT

  • SWIFT delves into blockchain for its Global Payments Innovation (GPI) initiative

7. Payments News: Reports

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

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