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Weekly top reads

Industry news top reads 23 Sept - 29 Sept 2016

30 September 2016

Below are our top reads from the last seven days of industry news*. Every Friday we'll publish our picks from industry developments, stories and announcements right here so you can keep you up to date with what's happening in payments here and overseas.

If you'd like to have our top reads emailed to you every Friday, let us know by emailing

Top reads        

VocaLink and ACI Worldwide join forces to create payments network
VocaLink and ACI Worldwide are partnering to offer a first of its kind complete end-to-end immediate payments solution. The partnership will offer a pre-integrated solution, enabling quicker on-boarding to the payments scheme amongst other benefits. “Together, we will be able to offer the market-leading, real-time payments system to a far greater number of banking customers”, said Paul Stoddart, Managing Director of VocaLink. Paul will be at The Point 2016 in November talking more about the immediate payments revolution.

Rule change see US banks get same-day payment processing
Our payments association colleagues at NACHA in the US have announced the launch of the first phase of same-day payments and settlements for US banks. All US financial institutions will now be able to receive same-day transactions, prior to the new rules ACH payments processing took two to four business days. The change could have an impact on how US customers and more than 80 percent of the nearly 28 million businesses there move some $40 trillion in funds every year. The change could dramatically affect the nation's cash flow control, profit margins, consumer experiences, and business models.

Digital payments continue to grow worldwide
Digital payments have reached 10% growth for the first time according to the World Payment Report 2016, particularly in key developing countries. The report is urging banks to “think digital” to accelerate their shift towards digitalisation and to foster a more collaborative approach.

Pay by sound
Sound waves technology is widening the scope for digital payments and might be the next big disruptor. A mobile app equipped with sound-based payments technology is making financial transactions possible between devices without the need for an internet connection or communication tools such as NFC.

Mastercard is making moves to stay ahead of the curve
Mastercard has launched a new platform to engage with software developers looking to integrate its payments functionality into their applications. They have access to more than 25 APIs that can be used to make in app payments easier and more secure. At the same time, Mastercard has also announced a partnership with Stripe to make it easier for customers to get paid in the ‘sharing economy’, using Mastercard Send.

PayPal, Intel and Lenovo partner to cut need for laptop passwords
PayPal has partnered with Intel, Lenovo, and Synaptics to eliminate the need for laptop passwords by using fingerprint authentication. Biometric authentication has become common for smartphones, but has yet to spread to computers. The biometric capability will unlock a range of functions, including letting users make PayPal payments. This is one of a series of moves by companies trying to make computer payments as convenient as smartphone payments.

Banks create a collective group for blockchain payments
A number of global banks have joined together and created the Global Payments Steering Group (GPSG) for global payments based on distributed ledger technology. The GPSG will oversee Ripple payment transaction rules and other actions to support the implementation of Ripple payment capabilities. This is the first time that major banks have formed policies to govern the transfer of money across borders around the use of blockchain.


*These articles cover a range of topics from broad payments industry news here and overseas. They do not represent the views of Payments NZ and are not endorsements.

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