Mastercard Protests Payments ‘Nationalism’ In India

PYMNTS

government over the use of nationalism by the government in India to promote a domestic payments network there. ” Modi has said that using RuPay is akin to offering a service to the nation, given the fees associated with the use stay in India.

Why Nations Fail

Chris Skinner

Robinson from the University of Chicago and co-author of Why Nations Fail, a book that changed thinking about what makes for successful countries and what makes them fail. I had … The post Why Nations Fail appeared first on Chris Skinner's blog.

National Bank Of Canada Blockchain Pilot Eyes Trade Finance Contracts

PYMNTS

The National Bank of Canada , the country’s sixth-largest bank, is collaborating with business consulting and IT company CGI to launch a blockchain-powered trade finance solution.

When national currencies fail (cryptocurrencies rise)

Chris Skinner

… The post When national currencies fail (cryptocurrencies rise) appeared first on Chris Skinner's blog. Venezuela is the latest country to spin into hyperinflation, showing the same signs as the meltdown in Zimbabwe that created the 100 trillion dollar note.

Apple Launches National Parks Initiative

PYMNTS

Apple has announced a new initiative that will help its customers support and enjoy America’s national parks. 24 through 31, the company is donating $1 to the National Park Foundation for every purchase made with Apple Pay at any Apple Store, online at apple.com or through the Apple Store app in the U.S. The App Store will also spotlight a collection of some of the best apps to help users explore the country’s national parks.

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National Funding Explores AltFin’s Uncertain Growth Trajectory

PYMNTS

However, Dave Gilbert, founder and chief executive officer of SMB alternative lending firm National Funding , said he’s seen a trend of growing traction within the small business community. B2B Payments alternative finance alternative lending B2B Banks economic growth FinTech loans National Funding News regulation SMB SMB finance working capital

China Creates National Cyberattack Database

PYMNTS

China revealed that it is creating a national cyberattack database and will require telecom firms, internet companies and domain name providers to report any threats to it.

Five At Five: Instacart Makes A National Play

PYMNTS

Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes the latest grocery pickup expansion effort, along with SWIFT talking about a rumor of a Ripple integration.

National Retail Federation Projects Halloween Spending Will Hit $9B

PYMNTS

billion in Halloween spending, the National Retail Federation ’s (NRF’s) annual survey projects spending for the occasion will reach $9 billion this year. Retail Consumer Spending Halloween Millennials National Retail Federation News survey What's HotJust under last year’s record $9.1 In addition, celebrants are expected to spend $86.79 on average this year, which is slightly higher than $86.13 last year, the federation said in an announcement.

First National Bank Of Omaha Shutters NRA Visa Card

PYMNTS

First National Bank of Omaha announced that it is not renewing a contract with the National Rifle Association (NRA) to offer customers an NRA-branded Visa card. First National Bank of Omaha offered two NRA cards with a $40 bonus and promoted it as “enough to reimburse your one-year NRA membership!” ” Customers lashed out at the bank via Twitter, promising to take their business elsewhere if First National didn’t cut ties with the NRA.

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An Innovative Nation is a Connected Nation

Let's Talk Payments

The value of connectivity is difficult to overestimate – nations that are most successful in innovation adoption are the most connected nations, where the rate of internet penetration and mobile.

Citigroup Eyes Creation Of National Digital Bank

PYMNTS

Citigroup is gearing up to launch a digital consumer bank that will be national in scope and will arrive within the next three years. Citing Citigroup Chief Financial Officer (CFO) John Gerspach, Reuters reported the executive said at an investor conference that the financial company is “laying the groundwork for having a national digital bank.

Estonia Shelves Plans For National Cryptocurrency

PYMNTS

Estonia has shelved plans to develop its own national cryptocurrency after the idea prompted criticism by banking authorities and Mario Draghi, the Italian economist and president of the European Central Bank. Estonia , which is among the most tech-friendly countries in eastern Europe, had been a leader in potentially issuing a national cryptocurrency, but the plan was criticized by Draghi earlier in the year when he said the euro can be the only currency in the country. “No

Malware Attack On National Stores Inc. Exposed Payment Data

PYMNTS

Following a malware attack that allowed “unauthorized parties” to access customer credit card information, off-price retailer National Stores is seeking to prevent fraudulent activity and improve the security of its point-of-sale (POS) systems, the company said in an announcement. “We Based on National Stores’ investigation, the company believes customers who used their credit cards at its locations between July 16 and Dec.

Swiss Central Bank Nixes National Crypto

PYMNTS

Schweizerische Nationalbank Board Director Thomas Moser said he doesn’t think it’s the right time to talk about issuing a national cryptocurrency for the country. The point is that, since blockchain technology can still be developed further, launching a national cryptocurrency on a technology that’s still practically “in beta” isn’t feasible. Switzerland isn’t the only country putting plans for a national crypto on hold.

Driverless Cars A Threat To National Security

PYMNTS

Transportation and public health experts maintain that self-driving cars will reduce the number of auto-related fatalities and injuries that are typically caused by human error, but Assistant Attorney General John Carlin, head of the national security division at the Justice Department, told Reuters: “The internet on wheels … clearly is going to present national security risks.”.

National Bank of Australia Adds Google Pay

Bank Innovation

National Australia Bank (NAB) today added Google Pay to its roster of mobile payments services. NAB customers can now use Google Pay to make contactless payments.

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JPMorgan Chase and National Bank of Canada Complete Blockchain Test

Bank Innovation

and the National Bank of Canada (NBC) announced today that they tested a debt insurance simulation on a new blockchain platform. JPMorgan Chase & Co.

First National Bank Plans Online SMB Lending Portal

PYMNTS

First National Bank and Trust Company is planning the launch of a digital small business lending portal and has tapped a partner to create the solution. In its announcement, First National Bank alluded to the rise of alternative and marketplace lenders, many of which have changed the way small businesses apply for and receive financing. “We

Happy National Coffee Day: Let’s All Celebrate Contextual Commerce

PYMNTS

As a nation of awake-earliers, up-very-laters, last-minute-crammers and entrepreneurs who simply never sleep at all, in this country, we like our coffee. Welcome To National (Free) Coffee Day. If you happened to have missed it, National Coffee Day was technically yesterday, Friday (Oct. Not to be outdone, Tim Horton’s has declared this National Coffee Week and will be topping customers off, free of charge, through Oct. National Taco day is next week (Oct.

Internet Association Says Companies Support National Data Privacy Rules

PYMNTS

that are more modern, but urged lawmakers to approach the issue nationally. Internet companies support an economy-wide, national approach to regulation that protects the privacy of all Americans,” the group said, adding that it backed ideas that would make sure consumers have “meaningful controls over the personal information they provide.”

National Australia Bank Builds SME Lending Features

PYMNTS

With home loan growth expected to slow to 4 percent in 2018, National Australia Bank (NAB) wants to build its business elsewhere, namely in SME lending. Finally, National Australia Bank is also looking to streamline SME customer on-boarding, allowing sole traders to open an online account in about 10 minutes. Australian regulators have been pressuring the nation’s top banks to improve their small business lending practices.

Poorer Nations Are Teaching Their Richer Counterparts About Cybersecurity

PYMNTS

A new United Nations (U.N.) The United Nations ranked the countries based on legal, technical and organizational institutions in the country, the educational and research capabilities of their citizens and the cooperation in information-sharing networks. The degree of interconnectivity of networks implies that anything and everything can be exposed, and everything from national critical infrastructure to our basic human rights can be compromised.”.

Israel Considers Issuing National Cryptocurrency

Bank Innovation

The Israeli government is creating its own “digital shekel,” according to multiple reports. The move is apparently driven by the desire to reduce black market activity, which makes up 22% of the country’s GDP, the report says.

Glitch At National Bank of Canada Exposes Personal Information

PYMNTS

The National Bank of Canada, the sixth largest lender in Canada, has become the latest high-profile firm to announce a data breach. According to a report in Reuters , the National Bank of Canada said Thursday (Sept. The revelation on the part of National Bank of Canada comes as consumers in the U.S. Security & Fraud customer information cyber-security data breach glitch National Bank of Canada News security & fraud What's Hot

Hackers Find New Avenues for Attacks Via Developing Nations

PYMNTS

Hackers are on the lookout for new ways to attack, and now it looks like developing nations may be a favored conduit. Security & Fraud china Cyber crime darktrace developing nations fraud Hackers india malware News North Korea ransomware Recorded Future Security Symantec Taiwan What's HotAs noted by The New York Times , some sophisticated attacks are surfacing, and they show bells and whistles such as artificial intelligence.

Qatar National Bank Reportedly Breached

PYMNTS

Qatar National Bank (QNB) is looking into allegations that the names and passwords of many of its customers were compromised, Reuters reported on Wednesday (April 27). Security & Fraud Cybersecurity data breach Qatar National Bank security breach what's howThe largest lender in the Middle East and Africa by assets may have become the victim of a cybersecurity data breach.

New York Venture Bank Seeks National Bank Charter

PYMNTS

New York Venture Bank, a new financial institution (FI) created by big names in the financial services industry, has applied for a national bank charter. Banking Bank Applications commercial lending FDIC Judith Erwin National Charter Nationally Charted Banks New York Venture Bank News OC&C What's HotAccording to a Wednesday (Nov.

National Oil IPO?

Bankelele

The post National Oil IPO?

National Australia Bank Cuts 6,000 Jobs, Shifts Staff to Digital

Bank Innovation

The National Australia Bank today announced it is slashing its workforce by 12%, or 6,000 job losses, over the next three years. Exclusive Online National Australia Bank Nordea

JPMorgan’s Interest In National And International RTP

PYMNTS

banks before it can become interoperable with other nations’ schemes, according to Art Brieske, head of faster payments at JPMorgan Chase. financial scene and ensuring those on the network can mesh with other nation’s schemes are high priority. Countries from the U.K.

PYMNTS Daily Data Dive: National Returns Day

PYMNTS

On this year’s National Returns Day — January 5, 2017 — more than 1.3 That’s up nearly 30 percent from 1 million packages on last year’s National Returns Day. Here are the numbers: 1/5/17 | National Returns Day. million | Items returned on National Returns Day in 2017. Daily Data Dive National Returns Day PYMNTS Daily Data Dive returns UPSmillion packages were shipped back to retailers, with a total of 5.8

Island Nation Mauritius To Set Up Fintech Fund

Bank Innovation

The island nation of Mauritius will now have a sovereign fund dedicated to investment in fintech.

ITFC partners with National Bank of Tajikistan

The Paypers

(The Paypers) International Islamic Trade Finance Corporation , National Bank of Tajikistan have hosted a workshop on Trade Finance Solutions for Financial Institutions

How Singapore Is Fueling A ‘Smart Nation’

PYMNTS

Singapore is on a mission to build up a Smart Nation by utilizing innovation and technology to create opportunities and strengthen communities. Startups are estimated to employ nearly 300,000 on the island nation. Singapore is poised to become the world’s first country to make the notion of a “Smart Nation” an actual reality. percent, Singapore stands as a nation with a lot to offer a growing and evolving tech ecosystem.

National Business Systems VP: For Some SMBs, It’s Still Wait-And-See On EMV

PYMNTS

In an interview with PYMNTS, National Business Systems VP David Riley noted a lack of awareness in the field for smaller firms across several verticals. Security & Fraud Credit Card Security EMV Featured News integrated payments national business systems News payments security POSAfter nearly three years, the transition to EMV in the United States still has its challenges.

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SGR enters the Nairobi National Park

Bankelele

Kenya’s National Land Commission (NLC) has again published a list of land titles it is seeking to acquire on behalf of Kenya Railways for the construction of Phase 2A of the Standard Gauge Railway (SGR) between Nairobi and Naivasha.

City National Bank acquires Exactuals

The Paypers

(The Paypers) City National Bank has announced the acquisition of Exactuals , a metadata company that provides solutions for complex payments across the entertainment industry

More Arrests In Punjab National Bank Diamond Fraud Case

PYMNTS

India’s police took more action in their investigation of the loan scam at Punjab National Bank (PNB), arresting three more employees of the bank. Security & Fraud bank fraud finance ministry Financial Crime india Indian Police Mumbai Banks News Punjab National Bank Reserve Bank Of India What's Hot

Startup Roundup: A Look At Local, National And Global Expansions

PYMNTS

As startups such as DadeSystems , FitPay and Jewel Paymentech expand across devices and functions, Tipalti , AvidXchange and Emailage announce new growth for their local, national and global footprints. In the life of a startup, there’s no better news than growth, be it across new verticals, devices or geographies.

Misinvoicing Costing Nations Billions, Warns UNCTAD

PYMNTS

For others, however, entire national economies can be affected. According to the UN Conference on Trade and Development (UNCTAD), that’s exactly what’s happening in some developing nations, in which invoice errors across Africa and South America are leading to the loss of up to two-thirds of commodity export value. According to UNCTAD, the trading practices of trading partners should be examined just as carefully as the practices of exporting nations.

Digital Services Mean Every Bank Is a National Bank

Bank Innovation

But the most significant revelation from the company’s earnings call yesterday may be that digital banking allows any bank to become national.

Venezuela launches national cryptocurrency

The Paypers

(The Paypers) Venezuela`s officials have announced the launch of a national cryptocurrency called Petro as a solution to fix the current economic state