In a spate of recent announcements, MasterCard revealed it is actively expanding the reach of its MasterPass digital wallet. The company has sought to boost the wallet's acceptance through partnerships with Citibank India, the payment gateway PAY.ON, and through multiple partnerships in the travel industry.
The U.K. arm of Santander has launched a collective savings app that lets users create and manage pools of money with friends and colleagues. The bank says the app, called KiTTi, is the U.K.'s...
Newly independent PayPal saw its shares rise 5.4 percent on its first day of trading, compared with its former parent eBay, which saw a 2.4 percent rise. The rise meant PayPal's share price closed for the day at $40.47, for a market cap of $49 billion, far larger than eBay, which closed for the day at $28.57, giving it a market cap of $35 billion.
The blockchain has potential to drastically cut transaction costs while improving the security, transparency and auditability of transactions, Standard Chartered chief innovation officer Anju Patwardhan wrote in a blog posted on LinkedIn. Patwardhan is the latest in a string of financial industry executives to voice support for blockchain technology as a potential disruptive force for transforming financial services.
JPMorgan Chase has revamped its website to be similar to the style of its mobile app, which was redesigned last year. Ad Age describes the new website as having "evocative lifestyle images...
American Express made a stronger grab for the online payment space late last week with a new fast, secure online checkout service that gives customers a shortcut through entering full account details. The new service compares to PayPal in ease-of-use, and gives the credit card giant a more secure online solution at a time when industry observers are warning that the planned move to EMV chip cards could push more credit card fraud online.
Capital One's announcement last week of its acquisition of Oakland, California-based Monsoon gives the company another technology design and development team to add to its strategy of making technology innovation a component of its financial services offering. Capital One and Monsoon had been working together for approximately six months on a product for small business customers, and the synergies between the two companies as they worked on that project reportedly prompted the acquisition.
Citigroup is reportedly testing its own bitcoin-like cryptocurrency, as well as three separate systems that deploy blockchain distributed ledger technology, according to International Business Times....
PayPal chief executive Dan Schulman recently told the Financial Times that exploring acquisitions would be part of the company's strategy once it splits from eBay later this month. It's acquisition of Xoom Corporation last week may give a first glimpse of what the focus of that strategy may be.
The crisis in Greece appears to be prompting a surge in bitcoin buying, particularly in Europe where the Greek crisis has strongest implications. But the buying is not coming from Greece itself, bitcoin observers said, as Greeks are currently restricted in their access to cash with which to buy bitcoin.