WorldPay’s world of payments shows huge diversity
Adoption of alternative payment mechanisms is growing more rapidly in developing economies as they leapfrog the legacy infrastructures deployed elsewhere.
Cards
Zapp: putting banks back in the m-payments picture
Formed earlier this year, Zapp expects to launch next year with the backing of most of the major UK retail banks, Peter Keenan, chief executive of the venture, says that at the time of launch the Pay by Zapp service will be available to 40% of UK current account holders, and it will have the backing of 50% of the nation’s online and mobile retailers – including well-known brands.
Lack of EMV means US leads the world in card fraud
The US leads the world in card fraud, at least in part because it has lagged in the adoption of the EMV (Europay, MasterCard and Visa) Chip & PIN standard, and continues to use signatures for verification. One result, said Carolyn Balfany, group head for US product delivery at MasterCard Worldwide, during Money2020 in Las […]
Bangladeshi IFIC bank implements Misys core banking tools
Bangladesh’s International Finance Investment and Commerce Bank has chosen a new core banking platform from Misys as it plans to increase its presence in Bangladesh, Pakistan and Nepal.
Mobile wallets face uphill struggle in UK
Less than one in ten UK consumers has used a mobile wallet, despite the widespread availability of the technology, a new study has found.
SunTec lets Visa put its foot down and Xelerate
Visa Europe is to introduce a new services suite called Xelerate Card Services from revenue management and business assurance firm SunTec, which it will use to track a peak volume of 100 million transactions a day. Xelerate is designed to help bill member banks and approved non-members of Visa Europe in 36 countries. Visa Europe […]
Misys modular back office service will streamline and consolidate
Banking software vendor Misys has launched a modular back office service that it says will centralise and consolidate all processing across asset classes, trading systems and branches globally.
MasterCard and EFL partner to underwrite unbanked SMEs
MasterCard and Entrepreneurial Finance Lab (EFL) have announced a global partnership to promote small business growth in developing countries. The partnership, agreed yesterday at Sibos, provides international issuers in developing markets with new tools to help to improve credit underwriting for unbanked small businesses.
Russia’s TCS bank turns to big data to create value
Clever use of data about customers can be the key to success as customers move from cash to cards, according to Oliver Huwes, chief executive at Russian bank Tinkoff Credit Systems.
Visa Europe, IBM and Monitise plan European mobile revolution
Visa Europe and its majority-owned mobile money specialist Monitise have signed a deal with IBM in a major mobile banking and mobile payment collaboration targeting Europe’s banks.
Visa Europe hires Huss as new chief executive
Visa Europe has appointed Nicolas Huss as its new president and chief executive. Huss will join Visa Europe from investment management firm Apollo Group, where he is chief executive for credit card and customer servicing business Avant Spain and Ireland.
Orange sets out Botswana mobile payments deal with Visa
Telecoms firm Orange is planning to launch a set of mobile payment services in Botswana and other countries in Africa and the Middle East, which it says will easy access to funds around the clock and bring new point of sale, online and ATM transaction options to customers.
EMV – driving the global eradication of card fraud
Authentication, risk management, transaction integrity and cardholder verification, are the four features that define the EMV standard, specified by EMVCo, the organisation that manages the EMV standards and associated compliance processes. These are designed to protect merchants, acquirers and cardholders from fraudulent transactions. However, closing the loop on fraud altogether will be almost impossible without […]
Kalixa NFC mobile wallet targets Europe
A mobile wallet offering built by Kalixa Group claims to be able to turn just about any phone – including the iPhone – into an NFC payment device. The toolkit has launched in the UK, marking the first step in the firm’s plans for Europe-wide NFC mobile payments.
India’s ICICI takes aim at Indian mobile payments
India’s ICICI Bank is to launch a mobile payments service built by Movida, the Indian joint venture between Visa and mobile money specialist firm Monitise, that will draw on the potential to reach unbanked customers in the country.
Mobile payments deadlock begins to unravel as EE debuts Cash on Tap
Mobile operator EE is launching a UK mobile payments service called Cash on Tap, in a move that highlights recent efforts across Europe to make mobile payments a reality.
Slovakia shapes up as centre of excellence for mobile payments
The on-going turf wars that have held back the adoption of using mobile phones as a payment device at the point-of-sale will soon be a thing of the past if the progress made in Bratislava over the past year is any indication. The success of a project involving Visa Europe, Tatra Bank, Telefónica Slovakia’s O2 operation and a substantial number of retailers makes the Slovakian capital a showcase market for contactless technology.
Making contact … eventually
Despite security concerns, contactless payments technology continues to be rolled out globally. Visa International recently estimated that the volumes of contactless transactions it will process during 2013 will quadruple. MasterCard’s figures show that since 2012 there has been a 50% increase in the number of contactless cards it has issued.
Misys targets branch innovation in Middle East
Rising technological sophistication offers the chance to reinvent retail banking in the Middle East, says Chris Weddell, business solutions group director Middle East and Africa at bank software and systems vendor Misys.
Online payments on rise in Turkey
A partnership between German and Turkish payments specialists aims to take advantage of Turkey’s rising levels of online commerce, with the help of three Turkish banks.
Misys shows its post-merger mettle
For the first three months of 2012, Misys was the subject of a protracted bidding war. Misys is clearly not the company it was a year ago:the firm has endured some painful change, but it has at least been quick. It has also produced what promise to be tangible benefits for users …
Unlocking the mobile wallet
Speakers at the Digital Services Conference hosted by Informa in London on Tuesday expressed frustration at the lack of progress made by mobile wallets in the UK and called for more innovative solutions to bypass the impasse.
Notch one up for the War on Cash
The latest figures from UK retailers show a significant move to debit cards and new mechanisms like PayPal as consumers shy away from cash and credit cards.
Cards top target list for fraudsters
Credit and store cards have returned to the top of the list of fraud targets, with a 28% increase in the first four months of the year – at a time when overall fraud levels fell by 16.5%.
Tearing up the financial services value chain
Traditional finance is not as we once knew it. The internet has completely disrupted the financial services value chain. The banks are struggling to keep up with advancing technology. Understanding mobile, cloud computing, social media, big data and how to utilise each capability are key challenges for the banks to overcome.
Identity and mobile figure large at payments and cards event
The themes of security, identity and mobility ran strongly through the Cards and Payments Middle East conference in Dubai this week – and not just because the event itself is sandwiched between related and interlinked events focusing on Mobile and Identity.
Brazil brings mobile payments home
Brazil is to gain its first ever mobile payment service this month, with the launch of a joint service provided by Spanish and South American telecom firm Telefónica and MasterCard.
Making more of mobile
Mobile banking can be more secure than online banking – but the real challenge is to move from closed circuit payments to a world in which customers of any bank can use any mobile app to send funds to any recipient, according to Hannes van Rensberg, founder and chief executive at mobile payments specialist Fundamo.
Immediate mobile payments come to Europe, M-Pesa to India
Payment processing firm Visa Europe has introduced a service allowing consumers to make mobile payments across the region immediately and using any European currency. Meanwhile in India, popular money transfer and payment service M-Pesa has now been fully launched. Visa Europe’s Personal Payments service enables Visa credit, debit or prepaid card users to accept payments […]
Kalixa Group unveils “disruptive” payments tools
Payments company Kalixa Group has launched a set of tools including an mPOS, e-wallet and acceptance kit, which it says will disrupt the global payments market in Europe, the Americas, Asia Pacific and the Middle East.
NCR, MasterCard, ING Bank Slaski pilot contactless ATMs in Poland
Technology company NCR has introduced contactless ATMs in Poland that allow customers to withdraw cash without inserting a card, through a joint project with MasterCard and ING Bank Slaski.
Banking on digital solutions to build trust and innovation
Rising to the challenge of reconnecting with customers, rebuilding trust and renewing the banking experience, banks are starting to explore digital technologies and solutions.
MasterCard integrates multiplatform e-commerce authentication across devices
MasterCard has announced the roll-out of a new integrated authorisation tool that straddles the card, online and mobile payments areas, while allowing merchants and digital wallet providers to integrate it with their services.
Wagner aims at m-commerce gap
Dan Wagner is pretty sure that he has an idea how the use of mobile devices will play out in the commercial world and how the relationships between banks, merchant acquirers, merchants and customers will change.
The changing face of payments
The Payments Council’s latest report, The Way We Pay, shows rapid changes in use of payment methods over the past decade – but cash is still in the mix.
iZettle and Santander “democratise” cheap card payments
Spanish bank Banco Santander has signed a deal with iZettle, a fledgling Swedish payments specialist that focuses on ‘social’ payments. The two companies plan to distribute mini chip-card readers to customers, so that they can accept card payments with smartphones and tablets.
India’s ICICI teams with mobile operator for Visa service
Indian bank ICICI and local mobile operator Aircel have launched a mobile financial services offering using Visa’s hosted platform solution.
War on Cash making slow progress in Europe
While card payments continue to grow – up by 10% in 2011 – the use of cash is still growing “at a more than healthy pace”, says the latest edition of the European Payment Cards Yearbook. The use of cards to withdraw cash at automated teller machines was also up – with 17.3% more ATMs issuing 2% more cash during the year.
MarkitSERV and Misys team for FX derivatives clearing service
OTC derivatives trade processing service MarketSERV and banking technology provider Misys have partnered to create a service for CCP clearing of FX derivatives trades.
Misys markets “competitive advantages” for trade finance
Banking software provider Misys has incorporated global processing into its trade finance solution, TI Plus, in a move that the firm says will help banks gain a competitive advantage through improved customer service and reduced costs.
