The Top Payments News Stories in July, 2016 1

I have been pretty busy lately and am getting ready for a couple of weeks off – Woohoo! So i am going to keep this edition of Payments news stories in July 2016 short and sweet. There seem to be featured quite a few cosying up stories and a couple of technical glitches too. And of course the usual stuff – fintech, bank branch closures, the move to contactless payments. Check out the following top payments news stories for July 2016:

1. Payments News – Cyber Security

  • The Payments Association of South Africa cosy up with MasterCard and Visa to deliver a standardised solution for biometric authentication
  • Visa survey reveals that Europeans are ready to use biometrics to secure their payments

2. Payments News – Mobile Payments

  • MasterCard and Paypal getting cosy according to the FT
  • Aussie banks get ready to rumble with Apple Pay
  • The death of cash in the US…?
  • MasterCard will acquire VocaLink
  • Digital wallets will replace card based payments within a decade says ANZ CEO
  • MasterCard pays Sainsbury £68.6 million over credit card fees
  • Visa promote wearable payments in Rio
  • TfL licensing deal with Cubic takes London’s contactless ticketing technology global

3. Payments News: Digital / Crypto-currencies

4. Payments News: Banks

  • Ex-Citibank guy imprisoned for sabotaging the banks computer system
  • DBS cosy up with Amazon Web Services
  • BBVA gets ready to stir up their management structure
  • Lloyds, Brexit, the economic slowdown and the banks cost cutting program
  • Deutsche Bank profits crumble in a weak economic environment

5. Payments News: Fintech

  • The UK Payment Systems Regulator (PSR) says the UK infrastructure has been rumbled and needs reform
  • The European Commission (EC) issues an invitation to tender for a study on the fintech sector
  • UK and South Korea cosy up and establish a fintech bridge
  • Thomson Reuters and Imperial College London cosy up to lead FinTech and RegTech innovation
  • Square will come to Europe in the form of Squareup Europe Ltd, registered in the UK
  • Santander InnoVentures committed to fintech with $100 million investment from the Santander Group
  • The German Regulator and banks clash over PSD2
  • Lloyds launch mentoring scheme for fintech start ups
  • Thought Machine aim to ‘fix’ banking with Vault OS, banking software in the cloud

6. Payments News: IT Glitches

  • A BT power fault at a partner site hurts broadband users and banks
  • WorldPay experiences an outage and causes duplicate charge havoc for many users such as Etsy,
  • Citigroup fined $7 million by SEC for computer coding error
  • Singapore Exchange (SGX) experiences another technical glitch and suspended trading from 11:38am for the whole day
Thanks for stopping by – Take a look around…!!

7. Payments News: Reports

    • Finextra publish a report on A Roadmap for Fintech Standards
    • A Google and BCG study highlights the huge expected growth in Indian digital payments to $500 million by 2020
    • Finextra publish a paper on How to get ahead on operational resilience: Strategies for financial institutions
    • BBA publish their annual The Way We Bank Now report – and here is a nice little summary by Payments UK
    • Bank of England publish a working paper on The macroeconomics of central bank issued digital currencies
    • Cifas release a report Fraudscape – UK Fraud Trends
    • Bain publish Distributed Ledgers in Payments: Beyond the Bitcoin Hype
    • Citi publish their report on EMEA fintech, focusing on Payments – Sinatra was Right: The best is yet to come
    • The UK Payments Strategy Forum publishes a draft strategy for Payments systems in the UK



  • SWIFT call in BAE systems and Fox-IT and establish a Customer Security Intelligence Team

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

One comment on “The Top Payments News Stories in July, 2016

  1. Pingback: 4 Epic Global Payments Trends Highlighted by BCG & Google

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