Payment news stories in July seemed to slow up a little, perhaps people were too busy enjoying the cricket, tennis and the lovely warm weather. Although, as this post reveals there was still plenty going on. Check out the top payment news stories from July 2019:
1. Payments News – Cyber Security
- RSM survey highlights big increases in the number of cyber incidents reported by financial services
- Facebook’s move into the cryptocurrency has led to a flurry, some potentially dodgy, Libra and Calibra related domain registrations
- Marriott International to be fined £99 million for GDPR infringement
- British Airways to be fined £183 millon for GDPR infringement
- Capital One data breach hits about 106 million individuals
2. Payments News – Mobile Payments
- I couldn’t find any interesting new stories!! 🙂
3. Payments News: Blockchain / Digital / Crypto-currencies
- US House Committee asks Facebook to hold their cryptocurrency plans
- FCA proposes a ban on selling cryptocurrency derivatives to retail consumers
- President Trump says Facebook cryptocurrency will need to be regulated
- David Marcus explains Facebook’s Libra will be regulated by the Swiss government
4. Payments News: Banks
- Deutsche Bank shed jobs and invest €13 billion in tech in a “fundamental transformation of [the] bank”
5. Payments News: Fintech
- BIS (Bank for International Settlements) will establish an Innovation Hub for banks
- UK Fintech investment goes from strength to strength in H1 2019, reaching a record half year value of $2.9 billion – on track to exceed the 2018 total
- Facebook prepares to roll out WhatsApp Pay in India later this year
6. Payments News: Europe – SEPA, PSD2, Open Banking, GDRP
- Christine Lagarde has been nominated as, and is likely to become, the next European Central Bank (ECB) President
- Tink analysis highlights bank APIs do not meet PSD2 quality requirements
- EPSM calls for 18 month delays to SCA (strong Customer Authentication) rules
7. Payments News: SWIFT
- SWIFT trials SWIFT gpi with Singapore’s FAST (Fast and Secure Transfer) network to enable instant cross border payments in Asia-Pacific, Europe and North America
8. Payments News: Reports
- Finastra – Digital Disruption Comes to the Corporate Treasury
- Deutsche Bank – Heike Mai (analyst) – Cash empowers the individual through data protection
- ESMA – European Securities and Markeys Authority – Licensing of FinTech business models
- Finextra – Data integrity, Cloud and Regulatory Change
- IMF – International Monetary Fund – The Rise of Digital Money
- United States Senate Hearing – Testimony of David Marcus, Head of Calibra, Facebook
- World Economic Forum & Accenture – Building Value with Blockchain Technology
- Open Banking UK – Open Banking, Preparing for Liftoff
- United States Senate Committee – Examining Regulatory Frameworks for Digital Currencies and Blockchain
- BCG and SWIFT – APIs in Securities Services
That’s it folks! Let me know below if I missed anything important…