VocaLink celebrates five years of Faster Payments
VocaLink, the international payments provider, is celebrating the five year anniversary of the Faster Payments Service in the UK, with 2.5 billion transactions securely processed since its launch in 2008. Against a tough economic backdrop, the service has flourished and real time processing is now the standard time for phone or internet initiated domestic UK payments. The Faster Payments Service is the largest real time payment system in the world that operates 24 hours a day, 7 days a week, offering direct customer initiation and almost instantaneous transfer of value to the beneficiary.
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Q1 2013: U.S. Credit Card Issuer Performance Snapshot
The nation’s largest credit card issuers reported strong profits in the first quarter of 2013, but the lack of asset and revenue growth is a common, recurring theme while purchase volumes increased compared to the prior year. Many credit card issuers continue to post receivables declines as loan demand is clearly soft and issuers remain cautious at marketing to the lower ends of the risk spectrum.
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Authorize.Net now available in the United Kingdom
Authorize.Net, the small business solution from CyberSource, announced that small business merchants based in the UK can now use Authorize.Net’s popular payment platform to accept and manage bank card transactions, fight fraud, store sensitive data and automate recurring transactions.
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Elavon and Banco Santander close deal to deliver merchant services in Spain
Elavon and Banco Santander, an international financial institution operating in 10 major markets with more than 100 million clients serviced by 15,000 branches, today confirm the establishment of a joint venture (JV) relationship in Spain, originally announced and proposed for regulatory approval in October 2012. Elavon is a wholly owned subsidiary of U.S. Bancorp.
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Monarch Airlines Welcomes aboard Adyen’s payment solution
Adyen announced that Monarch, the UK’s leading scheduled leisure airline and independent travel group, has chosen to roll out the Adyen payment solution across its online and mobile websites. The move follows the airline’s need to implement real-time dynamic switching of card volumes between acquiring banks and rationalize the number of merchant accounts it operates, both of which have been achieved by using Adyen.
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Outsourcing servicing sunctions to Credit Card Processors
The prevailing operating model for the largest consumer credit card issuers in the U.S. is to deliver key portfolio servicing functions (e.g., customer service, collections, etc.) in-house or, in the case of the very largest issuers, use a combination of internal and specialized BPO providers for delivery. However, many large issuers still leverage third party credit card processors to deliver select servicing functions such as fraud detection, lost/ stolen or chargeback processing. This allows them to take advantage of specialized skills, scale, and other capabilities provided by their card processor.
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Visa announces strategic processing relationship with Planet Payment
Visa recently announced the opening of the Myanmar market to ATM and POS acceptance through their licensing agreements with Co-operative Bank, Kanbawza Bank, and Myanmar Overseas Bank. This represents significant progress for Myanmar’s electronic payments infrastructure as it provides the country with a platform to participate in the global financial system. By joining the Visa network, the banks agree to adopt Visa’s global security standards for electronic payment.
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B+S Card Service launch European Payments in the UK
B+S Card Service, one of Germany’s largest acquirers and a one source solution for electronic payment processing, today officially launched in the UK.
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Equens processes billionth SEPA transaction
Equens processed its billionth SEPA transaction last week. Since the launch of the SEPA Credit Transfer (SCT) scheme in January 2008 and the introduction of SEPA Direct Debit (SDD) in November 2009, transaction volumes have shown progressive growth.
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VeriFone and SK C&C team on mobile wallet acceptance
VeriFone and SK C&C, the Korea-based global IT services company, announced they are partnering on deployment of open interface standards and technology platforms for management of digital wallet services, acceptance solutions and mobile commerce. The two companies are currently in deployment activity with several large mobile network operators (MNOs).
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SIX Payment Services and Diners Club Italy sign a long-term merchant acquisition agreement
SIX Payment Services (Europe) S.A., the international provider of card-based payment solutions, and Diners Club Italia S.r.l., which belongs to Discover Network and Diners Club International, today announced the signing of a long-term merchant acquisition agreement for Italy. The purpose of the agreement is to promote the acceptance of Diners Club and Discover cards in Italy.
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MasterCard enhances the processing of transactions in Europe
MasterCard Europe today announced the introduction of a number of improvements for pre-authorized transactions applicable as of November 2013 in the Europe Region. As pre-authorization volumes continue to grow fueled by a steady growth of international travel and e-commerce, MasterCard takes the lead and designs new rules to proactively address existing problems with pre-authorizations.
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SIX Payment Services is a founding member of UnionPay International
SIX Payment Services is taking a stake in UnionPay International Corporation Limited (UPI), which was set up by China UnionPay (CUP) at the end of 2012 with the aim of more selectively promoting use of the UnionPay card across the globe. Members of the new enterprise include companies from the financial industry throughout the world.
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Ukrainian banks can connect up to 400 types of paid services on "Global Money"
Integration of the "Global Money" Ukrainian payment system with WAY4, payment processing system developed by OpenWay, makes it possible for Ukrainian banks to connect up to 400 types of paid services and develop alternative channels for interacting with clients.
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zooplus Goes live with Adyen to power payments across Europe
Adyen has announced that zooplus, Europe’s leading online retailer for pet products, has become the latest merchant to switch its online payment processing to Adyen. Increasing sales and continued expansion across Europe has led to very high growth rates for zooplus, making it a necessity to implement a payment solution that could be hosted from a single platform across different countries.
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OpenWay and LICARD’s IT project promotes cashless and contactless payments
LICARD, a key player in the Russian and CIS fuel card market, and OpenWay, a leading international developer of IT solutions for payment card issuing and acquiring, have implemented a unique project. For the first time in the history of the Russian fuel and energy industry, all types of bank, fuel and loyalty cards were united on a single processing platform. LICARD’s choice is the WAY4 platform from OpenWay.
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Ogone Payment Services processes €16.6 billion over its platforms in 2012 - up 35.4%
Despite the economic crisis, Ogone has enjoyed a 35.4% increase in turnover processed on its platforms in 2012 and expects similar growth figures for 2013. This significant evolution opens up promising opportunities for the online market in general, for Ogone’s future and its 40,000 clients in particular.
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SIA central Europe: new transactions record achieved in Hungary in 2012
SIA Central Europe achieved a new record in transactions in Hungary over the last year. In 2012, the hub of the SIA Group in Central Europe also focusing on card issuing and acquiring services, processed 192 million payment transactions compared to 170 million in 2011 (+13%). Of the total amount, 116 million are related to bankcards.
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Money transfer system empowers Financial Institutions to define and manage payment processing
ACI today the release of ACI Money Transfer System 5.0 the company’s leading wholesale banking solution. The newest version of Money Transfer System offers financial institutions the utmost flexibility in defining and managing their payment processing flows. This most recent update was developed as the result of a large scale collaborative effort between ACI and a number of its customers whose design input and suggestions were included in the final version.
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Banco Popular and EVO Agree to form Merchant Acquiring JV in Spain
Banco Popular has reached an agreement with EVO Payments International, one of the largest merchant acquirers in the United States, to form a joint venture to provide merchant acquiring services to the Spanish market. Under the proposed transaction, EVO Payments International will acquire a controlling interest in Banco Popular's merchant acquiring business in Spain.
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Mobile Payments World Published 22 times a year with an opt-in database of more than 6,000 users, MPW provides up to the minute news and analysis of developments, trends and key players in the mobile and NFC payments industry.
Payment Card Statistical Yearbooks - European Payment Cards Yearbook 2012-13, containing 33 individual country profiles and Eurasian Payment Cards Yearbook 2012-13, containing 10 individual country profiles.
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