JPMorgan Consolidates SMB, Enterprise Payment Operations

PYMNTS

JPMorgan Chase is planning the consolidation its corporate payment operations by combining small business (SMB) and large enterprise solutions, the Financial Times ( FT ) reported on Thursday (Jan. The combined entity will be called the Wholesale Payments unit.

Amex Cleared To Operate In China

PYMNTS

The post did not say when Amex would start operations in the country. In November of 2018, Amex got approval to clear card payments by the PBOC , making it the first company of its kind to get access to what will become the largest card network this year.

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Ready Or Not, Faster Payments Will Impact Corporate Operations

PYMNTS

Corporate payments still don’t have a clear role in driving the adoption of faster payment technologies and systems in the U.S. Still, others have said that B2B payments should be largely left out of the faster payments conversation.

Lithuania Suspends SatchelPay Operations

PYMNTS

The Bank of Lithuania has suspended the majority of activities of payments company SatchelPay , reports said Tuesday, barring the Lithuanian company from issuing electronic money or providing part of its payment services.

PSD2 Creates Turbulence For Travel Operators

PYMNTS

With PSD2 in full swing in the European Union (EU), any merchant dealing with the payment data of EU citizens must upgrade their payment protocols to stay compliant. PSD2 And The Future Of Travel Payments.

Aussie FinTech 3Pay Launches Invoice Finance Operations

PYMNTS

Australian FinTech 3Pay has launched operations, connecting businesses to an invoice financing solution designed to support cash flow and prevent small businesses from being placed on hold by their B2B suppliers.

PBOC Approves Amex Application To Operate In China

PYMNTS

The post did not say when Amex would start operations in the country. In November of 2018, Amex got approval to clear card payments by the PBOC , making it the first company of its kind to get access to what will become the largest card network this year.

Following Brexit, N26 Will No Longer Operate In The UK

PYMNTS

FinTech bank N26 , based in Germany, will no longer operate in the U.K. The timings and framework outlined in the EU Withdrawal Agreement mean that the company will, in due course, be unable to operate in the U.K. following Brexit, according to reports.

BMO’s Digital-First Transformation Unlocks Operational Efficiencies

PYMNTS

These operations are quantifiably more efficient: A recent study found that customers typically spend nine minutes to acquire a check from a bank teller, but only 40 seconds to complete the same task with a self-service kiosk.

Mastercard Names New President Of Canadian Operations

PYMNTS

Mastercard announced on Thursday (May 30) the appointment of Sasha Krstic as president of the company’s Canadian operations. In a press release , Mastercard said Krstic will head up customer relations, product development and sales as the company aims to drive electronic payments in Canada.

Bank Expenditure Operational Risk

Banker to Banker

Operational risk gets the short shrift in banking. Credit and interest rate risk are the big men and woman on campus (just to throw in a back to school metaphor) while operational risk is usually relegated to the shallow end of the pool. Take payment risk for example.

Mumbai Bus Operator To Test India’s National Transit Card

PYMNTS

India’s One Nation One Card will be test-piloted with Mumbai bus operator BEST in November, NFCWorld reported on Tuesday (Aug. The national transit card system uses a bank-issued card that will run on India’s RuPay payments network, the news outlet said.

Dynamics, Sprint Launch Battery-Operated Payment Card

PYMNTS

Dynamics, a unit of telecommunications firms SoftBank and Sprint, announced what it is calling the first battery-powered payment card on Monday (Jan. According to a press release highlighting the new product , Dynamics said the payment card will boast fast data breach response and replacement times. Payment Methods CES Digital Credit Card digital payments Dynamics Jeffrey Mullen News Sprint Wallet card What's Hot

Link, ATM Operator Face Potential Court Fight

PYMNTS

NoteMachine , one of the biggest ATM operators in the U.K., According to a report in The Financial Times , NoteMachine contends Link ran afoul of competition rules by making changes to its payment system. is threatening to sue Link , the U.K.

MasterCard strengthens ties to mobile network operators

Mobile Payments Today

The Purchase, New York-based card network has already helped MNOs such as Vodafone Ukraine, Digicel Group in the Caribbean, Viettel Telecom in Vietnam and Taiwan's Chunghwa Telecom to roll out various services related to digital payments

Key Benfits of Operating Turnkey Payment Business in European Union

Mobile Payments Today

See why many entrepreneurs are operating turnkey payment businesses without the need for a bank license Initiating a financial institution offers many challenges.

Mastercard Names New President For Canadian Operations

PYMNTS

Mastercard, the payments company, announced Thursday (May 30) the appointment of Sasha Krstic as president for the company’s Canadian operations. Interac is using Mastercard Send, a push-payments service to send money cross-border, on the Interac eTransfer platform.

Farmhouse Market’s Remotely Operated, 24/7 Grocery Store

PYMNTS

These retail models cater to customers who are on the go by offering seamless experiences and convenient payment methods. The pair ultimately designed a concept that could operate without any on-site staff to solve this quandary. “We

PULSE Taps New Leaders Of Product Management, Operations

PYMNTS

Previously serving as its executive vice president of operations, Schroeder steps in for Judith McGuire, who is now serving in an executive role with PULSE’s parent company, Discover Financial Services. Jim Lerdal will take over the position of executive vice president of operations.

Mayzus Financial Now Operating as Money Polo

Mobile Payments Today

The co-owners of a large FX business numbering about 40 thousand active clients-traders turned to us with the task to create a single payment service for the purpose of minimization of expenses for operations

London’s Paysend Licensed To Operate In Canada

PYMNTS

has received a license to operate in Canada in a move that will expand the company’s global reach, according to reports. Paysend has partnered with Visa , Mastercard and UnionPay to help facilitate faster payments. Paysend , a FinTech out of the U.K.,

Bank Of England COO Joins New Payment System Operator

PYMNTS

The Bank of England’s chief operating officer is joining the U.K.’s s New Payment System Operator (NPSO). Payments Administration’s current Deputy CEO, Jenny Crawford, is joining the NPSO as its chief people officer. The Payment System Operator Delivery Group is closing to hand down operation of the nation’s payment systems to the New Payment System Operator in an effort to streamline the payment ecosystem.

PULSE Debit/ATM Network Taps New Product Management, Operations Leaders

PYMNTS

Previously serving as its executive vice president of operations, Schroeder steps in for Judith McGuire, who is now serving in an executive role with PULSE’s parent company, Discover Financial Services. Jim Lerdal will take over the position of executive vice president of operations.

Investors Upbeat On Shopify’s ‘Global Retail Operating System’

PYMNTS

COO Harley Finkelstein, in a post-earnings interview with MarketWatch , said that strong outcomes were seen across the board from the firm’s efforts to transform itself from a software platform for digital and physical retail into “the first global retail operating system.”.

Santander acquiring Elavon’s Mexican operation

American Banker

Bancorp Elavon Payment processingBanco Santander’s global digital transformation has led it to Mexico, where the bank has agreed to acquire U.S. Bancorp’s Elavon Mexico merchant acquiring unit for about $84 million. Santander Mexico U.S.

Sage Sells Off US Payroll Operations In Cloud Push

PYMNTS

However, the company has been investing more into its cloud operations as of late. B2B Payments B2B cloud accounting payroll Sage small business accounting Software-as-a-Service What's Hot In B2B

Jollypay Gets License To Operate In The UAE

PYMNTS

Online payment system Jollypay has received a license to operate in the United Arab Emirates (UAE), and it’s one of the first foreign companies to do so, according to a release. . Jollypay is the payment arm of Jollychic, a shopping platform. It was started in 2017 to aid in the company’s creation of a payment and services endeavor. . International Jollychic Jollypay News payments UAE What's Hot

SoftBank’s New ‘Operating Group’ Encourages Startup Collaborations

PYMNTS

In an effort to create a relationship between its portfolio of investors, SoftBank has created an “operating group” within its Vision Fund. For both funds, the operating team is tasked with advising startups on growth strategies, hiring, procurement and international expansion. “We

Deep Dive: How Restaurant Operators Are Driving mPOS Evolution

PYMNTS

Recent research indicates that restaurant operators are no longer interested in taking a back seat when it comes to industry evolution, and instead want to be active participants as new POS and payment options are unveiled. Impacts on Day-to-Day Operations.

Fed Seeks Comment On New Operating Hours For Fedwire Funds

PYMNTS

13, 2018, NACHA , the rules and standards body for the ACH network, announced that its voting members had approved amendments to the NACHA Operating Rules & Guidelines to establish a third Same Day ACH processing and settlement window,” the Federal Reserve wrote in the announcement.

Stablecoins can help companies unlock their operations

Payments Source

Blockchain Cross border payments Digital payments ISO and agent CryptocurrenciesStablecoins, with their instant settlement and high liquidity, averts the issues that have long plagued cross-border transactions.

Santander acquiring Elavon’s Mexican operation

Payments Source

Bancorp Elavon Payment processingBanco Santander’s global digital transformation has led it to Mexico, where the bank has agreed to acquire U.S. Bancorp’s Elavon Mexico merchant acquiring unit for about $84 million. Santander Mexico U.S.

Bitcoin Daily: Nigeria’s Crypto Market Surges; Alleged Crypto Capital Operator Charged With Fraud

PYMNTS

Reginald Fowler, “an alleged operator behind payment processor Crypto Capital , was charged with wire fraud” on Friday (Feb. This is in addition to charges of bank fraud, an unlicensed money transfer operation and conspiracy.

Asian mobile operators can disrupt the online payments industry

Mobile Payments Today

Gerri Kordes, chief business officer at Fortumo, believes the growing mobile population in the region is a good opportunity for operators there to take advantage of the growth

Free Up Operational Time With Simpler Payment Processes

PYMNTS

The adage holds true in payments, especially, and manual processes are to blame. Jon Burrell, vice president of operations at international payments platform   Currencycloud ,  takes PYMNTS through the ways firms in B2B and beyond can keep customers happy and the coffers full — even when operating across borders, and all while the clock is ticking. That’s when operational streamlining through financial technology becomes key. Time is money in business.