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.
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 […]
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 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 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.
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.
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.
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.
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.
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 …
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.
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.
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%.
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.
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 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.
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.
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 […]
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.
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.
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 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.
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 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.
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.
Indian bank ICICI and local mobile operator Aircel have launched a mobile financial services offering using Visa’s hosted platform solution.
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.
OTC derivatives trade processing service MarketSERV and banking technology provider Misys have partnered to create a service for CCP clearing of FX derivatives trades.
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.
ATM maker Diebold has developed an ATM that lets customers withdraw cash without using a card – and saves the bank money in the process.
Ten UK payment service providers have committed to MasterCard’s PayPass Online by MasterCard, part of PayPass Wallet Services, allowing them to accept electronic payments across multiple channels.
SK Bank, a Polish cooperative bank in Poland, has signed with First Data, which will provide outsourced issuing and payment processing services for SK bank’s debit, credit and prepaid card portfolios.
First Data will also enable the bank to access card payment data on a 24/7 basis. The bank also intends to implement Proactive Risk Manager, a fraud transaction monitoring system provided by First Data.
SIX Payment Services has chosen Clear2Pay’s CBK solution to support its chargeback business and processes on a single platform. The CBK Chargeback system replaces two old systems and will evolve over time to encompass both acquiring and issuing chargebacks for credit and debit cards. The new system has so far been implemented in Switzerland and […]
