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Ripple plug into Earthport payment hub

Ripple Labs is to plug its real-time settlement protocol into the Earthport payment hub, opening new channels to market for the open source transaction technology. Under the partnership, Earthport’s customers will be able to utilise Ripple’s friction-free cross-border payments technology while operating within strict regulatory boundaries – reports Finextra. “We constantly evaluate new technologies to reduce costs and delays associated… Continue reading >>

Swift and Fiserv win $1 billion Australian payment system overhaul

Australia’s new payment system will be delayed by a year after five institutions stepped back from funding the $1 billion project. It was announced on Tuesday that the Reserve Bank of Australia-backed real time payments network will be built by bank messaging network SWIFT and payments company Fiserv But it also emerged it will be delayed by another year to late 2017. After… Continue reading >>

Compass Plus partner with security solution expert Futurex

Compass Plus, the retail banking and electronic payments software providers, has announced that its open development payment platform, TranzAxis, has now been fully certified to support Futurex’s Excrypt SSP9000 hardware security modules (HSMs). This new partnership with Futurex, a provider of secure, robust, and cost-effective data encryption security solutions, has extended the list of HSMs now supported by the TranzAxis payment… Continue reading >>

Barclaycard completes acquisition of The Logic Group

Further to the announcement on 8 September 2014 regarding the conditional acquisition of The Logic Group by Barclaycard (the Acquisition), Barclays Bank has announced that following receipt of competition authority clearance all completion conditions to the Acquisition have been satisfied and the Acquisition has therefore completed. Valerie Soranno Keating, Chief Executive of Barclaycard, said: “We’re delighted to have completed this transaction…. Continue reading >>

Skrill to acquire Ukash

Skrill Group has announced that it has signed an agreement to acquire Ukash[ii].  On completion, this acquisition will add scale and reach to Skrill Group’s rapidly growing paysafecard, one of Europe’s most popular, proven and secure prepaid payment solutions for purchasing online, making the company a global force in secure online payment. Since its launch in 2000, paysafecard has provided a… Continue reading >>

Discover Financial sues Visa over anti-competitive PIN practices

Discover Financial Services is suing Visa Inc , alleging the largest cards company has been using anti-competitive practices in its debit card business, and sought compensation for lost profit, court documents showed. Discover, through its Pulse Network LLC unit, alleges that “in order to maintain its monopoly, Visa has undertaken a series of illegal actions that undermine competition – harming rival debit networks,… Continue reading >>

Coinbase partners RewardsPay for iTunes bitcoin payments

RewardsPay has opened its payments platform to Coinbase enabling online shoppers to use bitcoin for purchases at iTunes and Facebook. RewardsPay’s service lets people use the cash rewards they get from credit card companies, hotels, airlines and retailers to make online purchases. Coinbase is taking advantage of the firm’s integration with major merchants to expand the pool of sites where… Continue reading >>

McDonald’s deploys NFC mobile payments Softcard

Softcard (formerly Isis Mobile Wallet) has won its first big deal with McDonald’s announcing a union between the two companies, bringing NFC mobile payments to roughly 14,000 McDonald’s restaurants. “We are pleased to announce this national launch after a successful pilot program that began in 2013. Our work with Softcard further reinforces McDonald’s commitment to customer service and convenience,” said Anja… Continue reading >>

Apple Pay pricing + T&C’s revealed for US banks

According to the term sheet, which was picked up by equity analyst at Keefe, Bruyette & Woods, Sanjay Sakhrani, Apple Pay will receive 15 basis points (0.15 percent) per credit card transaction, as well as a half a penny for each debit transaction. The contract also stipulates that issuers must make available at least 95% of the cards in their… Continue reading >>

MasterCard to acquire TNS payment gateway business

Transaction Network Services (TNS), a portfolio company of Siris Capital Group since February 2013, has entered into an agreement to sell its payment gateway services business to MasterCard for an undisclosed sum. MasterCard will acquire TNS’ eCommerce and card-present payment gateways, which will become part of the DataCash payment gateway suite. With the addition of TNS’ Payment Gateway Services, DataCash will be… Continue reading >>