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Author archives: Kaye Skinner

Bitcoin ATMs paying off initial investments in months

An industry that was non existent a mere 12 months ago is flourishing and profitable, according to Bitcoin ATM pioneers, Lamassu. Internal Lamassu surveys show that standard cash-to-Bitcoin ATM locations are averaging $20,000 worth of transactions per month, whereas prime locations are averaging $40,000 – $60,000 per month. With an average commission of 5.5%, operators are looking at $1,000-$3,000 in… Continue reading >>

Asia-Pacific overtakes North America to become the largest EFTPOS region

New research from London-based strategic research and consulting firm RBR shows that there were 61 million EFTPOS terminals installed at 40 million merchant outlets around the world, at the end of 2013. This represents a 12% increase on 2012. Asia-Pacific’s installed base expanded by 30%, overtaking North America to become the largest region for EFTPOS terminals in 2013. The rapid growth in… Continue reading >>

Making the most of merchant loyalty

Creating merchant loyalty – location–based offers, discounts and targeted messaging are helping to place merchants at the centre of consumer engagement. According to research by IDC, 1.5 billion smartphones will be in use globally by 2017, while research firm Gartner predicts that worldwide mobile payment transaction values would reach $235.4 billion in 2013, a 44% increase from 2012’s $163.1 billion…. Continue reading >>

Research reveals banks’ attitudes to HCE

Global bank-led industry association, Mobey Forum, has published a white paper detailing the results of a survey that outlines the attitudes of its international membership toward the adoption of host card emulation (HCE). The survey reveals members’ appetites for third-party support with HCE solution development and ranks their key criteria for the selection of a technology partner. With close to… Continue reading >>

The state of SEPA

How is SEPA faring now that migration deadlines have passed, and could banks be doing more? Finally, after a 15-year wait, and a delayed 1 August migration deadline, the Single Euro Payments Area (SEPA) has achieved full implementation of SEPA-compliant credit transfers and direct debits in the euro area- reports Victoria Conroy. The milestone means that over 500 million consumers and 20… Continue reading >>

Mobile money momentum

As mobile money transfer services like Pingit and Paym gain traction, how will mobile remittances help drive mobile commerce? With all the focus on mobile payments and wallets, and the success of mobile-based money transfer services like Barclays Pingit and Paym in the UK, the spotlight is being shone on the potential of these account-to-account transfer services to bring about… Continue reading >>

One Single Market needs one set of rules for card fees

This week, Europe’s politicians begin trialogue talks to decide final rules on how much payment cards will cost merchants and consumers in card fees. The end goal is more competition and innovation in our payments market. The commerce sector fears that unless MEPs make crucial changes to the Council’s text, we will fail to achieve these aims. EuroCommerce Director-General, Christian… Continue reading >>

UK contactless transactions pass £1billion

Contactless has shaken off its novelty tag and is surging towards the mainstream according to Worldpay, which announced it processed over £1 billion payments using the technology in the last three years. Data from the UK’s leading payment processing company shows the number of contactless transactions rose by more than 150% in the last six months (6.65m contactless transactions processed… Continue reading >>

Anti-fraud technology keeping UK card fraud losses at bay

FICO says that card-not-present (CNP) fraud accounted for three-quarters of card fraud cases and fraud losses in the UK from 2012-2014, based on the payment cards in the FICO Falcon Fraud Consortium for Europe. Despite the dominance of CNP fraud, UK issuers have used anti-fraud technology to keep loss rates below their 2008 level. CNP fraud targets transactions made online or over the phone,… Continue reading >>