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Author archives: Kaye Skinner

The economics of hacking

After a series of high-profile hacking attacks, many companies are considering more aggressive tactics to fight back against cyber crime, including “active defence” strategies. The most controversial is “hacking back” against cyber criminals, which is against US law and, according to several bank officials, a bad idea because of the difficulty in definitively identifying culprits. Instead, they are fighting back… Continue reading >>

Global NFC handset sales drive payments cool factor

As the world mourns the loss of a former king of the handset manufacturing world and Microsoft licks its wounds in writing down about $7.6 billion on the Nokia division, there is reason for optimism and excitement elsewhere in the handset manufacturing industry and this spells excellent news for the payments industry. The good news is based around three small… Continue reading >>

ING Bank launches voice biometric payment system

While banking customers have already been able to use the voice control mode on the ING Netherlands app, now they can also make voice-activated payments leveraging voice biometric technology. A smart alternative to PINs and passwords, voice biometrics makes mobile banking easier in the ING Netherlands mobile banking app. Over 100,000 ING Netherlands’ customers already use the virtual assistant in… Continue reading >>

Regulation helps drive continued expansion of China ATM market

China remained the world’s largest ATM market in 2014, with installations increasing by 18% to reach 615,000 ATMs. The research by RBR also notes the significant impact that government regulation and guidance is having on banks’ ATM deployment strategies. Bank ATM deployers continue to expand their fleets to keep up with huge customer demand – the adult population grew by five million… Continue reading >>

Stripe lands new funding with Visa

Stripe has won a new round of funding from investors that include Visa, Sequoia Capital and American Express, the funding values the company at $5 billion. The actual value of the funding has not been confirmed, but speculation suggests it is near the $100 million mark. The most interesting aspect of the deal is the recruitment of Visa to Stripe. The company says it has… Continue reading >>

CEE joint venture to provide merchant payment services

Erste Group Bank AG (Erste Group) has entered into an agreement with Global Payments to establish a joint venture providing merchant acquiring and payment processing services (merchant payment services) to retailers in the Czech Republic, Romania and Slovakia. Upon completion of the transaction and pending regulatory approvals, Erste Group will sell 51% of its merchant acquiring businesses in the three… Continue reading >>

Global smartphone shipments increase 11.6%

Global smartphone shipments rose 11.6% year-on-year in the second quarter to 337.2 million, according to market researcher IDC. This is the second highest quarterly total on record, with growth sustained after a strong Q1 by robust demand in many emerging markets. IDC said more affordable smartphones, often from local vendors, were driving the growth in the market, rather than the… Continue reading >>

Death of pocket money – parents pay digitally

Traditional cash pocket money is dying out as increasing numbers of parents are paying their children’s pocket money digitally, according to new research from Intelligent Environments. However, in spite of an increasingly digitally-native generation of youngsters, only two UK high street banks cater for children under the age of 11. An online poll of 2,000 parents shows that the way… Continue reading >>

UK businesses losing out if they do not have contactless

As usage of contactless cards has trebled, just under half of consumers (47%) expect, or would prefer, businesses to offer contactless payment for low-value transactions, according to new research from Lloyds Bank Cardnet. Despite its relative recent introduction, over a tenth (12%) of consumers state that they do not think enough retailers offer contactless and just under a tenth (9%)… Continue reading >>

Innovation in payments initiatives

A global study of over 300 banking and financial services executives shows that, for the first time, innovation is ranked as important as regulation. The research also reveals that mobile first has now become mainstream, while innovative disruptive technologies such as block-chain will potentially become a very attractive alternative to traditional payment methods, transforming payment processing and acting as significant… Continue reading >>