University researchers in Belgium will work with payments companies to research Near Field Communication applications. The collaboration involves researchers from universities in Brussels, Gent and Leuven. It also involves three Belgium-based firms: Integri, a supplier of test tools and services for payments, ticketing and mobile applications; its parent, financial-technology company Clear2Pay; and Keyware, which sells electronic payment, loyalty and related services, according to a statement Integri released Tuesday. Participants plan to focus on NFC vouchers used for meals, gifts and coupons. Dozens of NFC tests have taken place around the world, but the technology, which essentially turns mobile phones into contactless payment and ticketing devices, has seen no large-scale rollouts.
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In its annual survey of industry consolidators, DeVoe and Co. detects signs that the upward march of RIA deal valuations may soon come to a halt.
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Three former senior enforcement officials at the Consumer Financial Protection Bureau have launched Halperin Petersen & Mikkilineni LLP, a new public interest law firm; Ally Financial taps Mark Mathewson as chief information and data officer; Provident Bank names Anthony Petrazzuoli SVP, deposits & payments operations director; and more in this week's banking news roundup.
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PayPal's board of directors is reportedly unimpressed with Stripe and Advent International's $53 billion offer to buy the company. Analysts had speculated that the offer may be low, despite the fact that it came in at a 30% premium compared with other merchant processors.
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Banks must tell regulators of a serious breach within 36 hours under a codified rule. Regulators say they will tell banks 72 hours of their own data breaches, in a memo nobody can enforce.
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By establishing direct connections to clearing networks such as Japan's central bank, the cross-border payment firm avoids intermediaries, feeding its strategy to undercut traditional financial institutions.
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