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Payments UK issues code of conduct

Trade association Payments UK has published an initial code of conduct covering ‘indirect access’ to the UK’s payment systems. The principal aim of the code is to improve the experience of indirect payment service providers by clearly setting out the responsibilities of indirect access providers that have subscribed to the voluntary standard. The code has been developed by Payments UK… Continue reading >>

EVO acquires Citi’s Merchant Acquiring business in Mexico

EVO Payments International (EVO) has announced the successful completion of the purchase of Citigroup’s merchant acquiring business in Mexico, conducted through Banco Nacional de Mexico S.A. (Banamex), a wholly-owned subsidiary of Citigroup. As part of the transaction, Banamex and EVO entered into a 10 year strategic marketing alliance that includes an exclusive referral arrangement covering card acquiring and related products for Banamex’s… Continue reading >>

How European Issuers can win with Tokenised NFC m-payments

Apple Pay’s 14th July expansion into the UK arrival promises to expand m-payment capabilities into retail locations and greatly increase consumer awareness of the benefits and availability of m-payments. Most of the recent m-payment solutions — including Apple Pay, Android Pay, Samsung Pay and even the Swatch smartwatch — rely on Near Field Communication (NFC) technology and tokenisation. In this… Continue reading >>

PayPal raises US prices

PayPal says it will increase prices for thousands of businesses as the company looks to maintain revenue growth and boost profit margins as a stand-alone business separate from eBay. PayPal says it is introducing for US merchant flat rate of 2.9% plus 30 cents for domestic transactions and 3.9% plus a fee that varies by country for international transactions. The change takes effect… Continue reading >>

Wirecard smashes into Worldpay bid at $9.4bn

The enigmatic German payments processor Wirecard is heavily rumoured to have joined the bidding for UK rival Worldpay. Wirecard is competing against private-equity bidders, including a joint proposal from Blackstone Group and Hellman & Friedman, as Worldpay also prepares for a possibleinitial public offering, the people said, asking not to be identified because the process is private – according to Bloomberg…. Continue reading >>

EVO and Raiffeisenbank form card acceptance alliance

Global acquirer and payment service provider EVO Payments International has formed a strategic alliance with pan-European banking group Raiffeisenbank for card acceptance in the Czech Republic. As a result of the partnership, all acquiring related services and responsibilities will transfer to a newly-founded Czech subsidiary of EVO, called REVO. The transaction, subject to regulatory approvals, is expected to close at… Continue reading >>

Coinify acquires digital currency rival Coinzone

Danish digital currency processor Coinify has acquired Dutch rival processor Coinzone in order to create a pan-European provider of payment processing for online merchants and payment service providers. The deal will extend Coinify’s merchant customer base to 10,000 online clients and will strengthen the firm’s plans to raise capital in a Series A round of funding. Coinify has embarked on… Continue reading >>

MCX loses participating merchant Rite Aid

US mobile payments consortium MCX has suffered a blow after US drugstore chain Rite Aid announced activation support for rival products from Google and Apple across its 4,600 outlets across the US, joining Best Buy in dropping support for MCX. The decision to support Google and Apple reverses Rite Aid’s earlier move to switch off support for Apple Pay in… Continue reading >>

Japan Post Bank selects Earthport payment network

Cross-border payment transaction processor Earthport has forged an agreement to enable cross-border services for Japan Post Bank, one of Japan’s largest retail banks. The partnership will enable the bank to provide improved customer experience and reach for cross-border consumer remittances. Japan Post Bank provides consumers with financial services through a network of local post offices and ATM’s throughout Japan. Japan… Continue reading >>

Optimal Payments completes Skrill acquisition for €1.1bn

Global payment processor Optimal Payments has completed its acquisition of e-commerce and e-money solution provider Skrill Group for €1.1 billion. The acquisition will create a payment and e-wallet provider with significant international scale and reach, and a product portfolio that includes Skrill, paysafecard, Payolution, NETELLER, Net+ NETBANX and FANS Entertainment. The combined business is positioned in the straight-through processing payment… Continue reading >>