Card Notes

Here are our twenty most recent articles on Card Notes.

Standard Bank introduce P2P system

Standard Bank’ new service, Instant Money, will use Spar's 850 stores throughout South Africa to reach communities in some of the most remote parts of the country. The money is sent and received at Spar outlets, using a mobile phone to transfer information. Instant Money will initially be available from Spar stores in the Eastern Cape.

The Mobile Money Revolution?

A majority of Kenyan adults have used mobile money (m-money) services, according to the 2009 AudienceScapes national survey of Kenya conducted by InterMedia. However, most of the m-money crowd is only sending or receiving cash transfers, the survey indicates.

Gartner rubbishes Citi mobile trial

Gartner analyst Kristin Moyer has taken issue with recent reports praising Citi's 'Tap and Pay' mobile payments trial in India (MPW 137, 141, 144), arguing that the data released fails to back up claims made by the bank and researchers over the success of the programme.

Boost for mobile banking for the unbanked

CGAP has announced a new partnership with the UK Department for International Development (DFID) to expand ongoing global efforts to use information and communication technologies (ICT), especially mobile phones, to increase access to basic financial services for the poor. In addition to a 2006 grant from the Bill & Melinda Gates Foundation and CGAP funding, DFID will provide £8 million to the CGAP Technology Program.

Visa in Africa: compete or partner

Global payments technology company Visa International is courting mobile phone network operators with a view to tying up partnerships that could give the company a foothold in the emerging mobile phone banking services, the group’s general manager for Sub Saharan Africa has said.

Pudong Development Bank plans to sell stake to China Mobile

Chinese mobile telecommunication operator China Mobile or its state-owned parent may buy 20% of Shanghai Pudong Development Bank for $5.9 billion, Bloomberg reports.

Cashless future

Visa is expecting cashless alternatives such as contactless payments to gain traction this year. A recent Visa study on cash's societal costs noted estimates from the European Commission that cash, checks, and payment cards together account for 2% to 3% of gross domestic product-with cash comprising more than 66% of the total cost.

Just months to replace old wireless payments systems

Merchants and caterers have a six-month deadline to replace old wireless payments systems in order to comply with the PCI Data Security Standard, which was amended in 2008 to prohibit the use of Wired Equivalent Privacy (WEP) technology in the transmission of card details from mobile card terminals to the system's main component.

Card fraud costs US $8.6bn

The US card payments industry loses an estimated $8.6 billion to card fraud annually, according to a new Aite Group report.

EPC consultation on SEPA mobile payments

The European Payments Council (EPC), the decision-making and coordination body of the European banking industry in relation to payments, and GSMA, representing the interests of the worldwide mobile communications industry, have released the paper “TSM Service Management Requirements and Specifications” in the Single Euro Payments Area (SEPA) for public consultation.

Banks and operators go head to head

Banks and mobile network operators are set to go head to head in a bid to control the market for NFC mobile payments services, according to a new research report.

Voice Commerce accepted as a Principal Member of Visa Europe

Voice Commerce has become the first Payments Institution (PI), under the Payments Services Directive (PSD), to become a Principal Member of Visa Europe. The membership means Voice Commerce can start providing its own payment services to businesses including acquiring payment transactions.

Card firms press US to file WTO complaint on access to China

Card companies, including MasterCard and Visa, have approached the US government about filing a WTO trade complaint against China for cutting them out of the country's fast-growing, $723 billion, payment processing market, according to Bloomberg.

DIBS Payment Services turns to TNS

International payment service provider DIBS Payment Services is streamlining its payment connectivity by replacing multiple local suppliers with just one connection into Transaction Network Services’ PCI DSS certified global backbone network.

EPC defends Sepa Direct Debits

The European Payments Council has hit out at accusations by consumer groups that customer protection and security procedures are being undermined by the roll-out of the new Sepa Direct Debits (SDD) scheme.

Visa Europe calls for payments infrastructure to meet the digital age

The UK is on the verge of a revolution in the way people pay for goods and services says Visa Europe. But retailers, banks, the Government and payments systems need to do more to make sure the UK isn’t left behind as the world embraces digital money.

UK banks vote to bounce cheques by 2018

The UK's major banks have voted to stop clearing cheques by 31 October 2018, bringing to an end the 350 year old payment method. Last May the Payments Council delivered its first national payments plan which includes proposals for the "managed decline" of paper-based cheques.

SK Telecom acquires stake in Hana Card

SK Telecom says that its board decided to take over a 49% stake (or 57,647,058 shares) in Hana Card Co. for some KRW 400 billion ($355 million). The deal will make SK Telecom the second largest shareholder of Hana Card after Hana Financial Group Inc with 51% stake.

Mobile money to reach $202 billion in 2012

The magnitude of global mobile banking is forecast to hit $202 billion by 2012, and 60% of that will emanate from the Asia Pacific region.

Giant US retailer Best Buy drops Visa contactless

Best Buy has stopped accepting Visa payWave contactless payments at its 1000 stores in protest at the card giant's fee structure, according to retail technology blog.

Card Notes

Standard Bank introduce P2P system

The Mobile Money Revolution?

Gartner rubbishes Citi mobile trial

Boost for mobile banking for the unbanked

Visa in Africa: compete or partner

Pudong Development Bank plans to sell stake to China Mobile

Cashless future

Just months to replace old wireless payments systems

Card fraud costs US $8.6bn

EPC consultation on SEPA mobile payments

Banks and operators go head to head

Voice Commerce accepted as a Principal Member of Visa Europe

Card firms press US to file WTO complaint on access to China

DIBS Payment Services turns to TNS

EPC defends Sepa Direct Debits

Visa Europe calls for payments infrastructure to meet the digital age

UK banks vote to bounce cheques by 2018

SK Telecom acquires stake in Hana Card

Mobile money to reach $202 billion in 2012

Giant US retailer Best Buy drops Visa contactless

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