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Instant payments at POS – overcoming customer and merchant barriers

Over the past several years, instant payments have become an increasingly important part of the payments landscape. The Euro Retail Payments Board (ERPB), European Central Bank (ECB), European Payments Council (EPC) and several national organisations have recently made announcements addressing the implications and regulation of this new payment option, as well as the impact of its rise on the operations… Continue reading >>

HKT launches NFC mobile payments

HKT Payment, a subsidiary of  Hong Kong Telecommunications (HKT) has launched a SIM-based NFC mobile payments service to let customers pay at more than 3 million locations worldwide which accept MasterCard PayPass, using funds stored in their Tap & Go mobile wallet account. In addition to in-store payments, the service lets users make P2P transfers by tapping their devices together through its… 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 >>

Cyber attack Open Threat Exchange sharing platform

Banking bosses say that a cyber attack is among their biggest fears, with nearly 80% of chief executives of financial services firms worrying about this potential risk. But five months after the world’s biggest bank raid – where cyber criminals stole £650m from financial firms around the world – is the FS sector doing enough to protect itself? While cyber… 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 >>

Wind of Change for Card Acquirers – Challenges for the card acquirer service model

Obviously, the consolidation within the European acquiring industry market is underway. The country profiles of the Payment Cards Statistical Yearbooks provide the individual background of the card acquirers by country, including new challenges, joint ventures, investments and acquisitions. In 2014, Europe had a fragmented card acquirer market with more than 300 acquirers accepting cards at millions of POS terminals, on the… Continue reading >>

Social media to drive mobile money transfer market

In a new report from Juniper Research it is projected that the number of mobile money transfers globally will increase by nearly 150% in 2015 to more than 13bn, with several social media firms already seeing a dramatic rise in service usage. The research observes that with US social payment service Venmo now experiencing traffic worth nearly $1bn per quarter, leading social media… Continue reading >>

Square files “confidential” IPO

Square is rumoured to have filed an IPO, a person familiar with the matter said. Square filed its prospectus under the Jumpstart Our Business Startups Act, which permits companies with under $1 billion in annual revenue to file their IPO paperwork confidentially, the person said. Square’s IPO could test the market for tech offerings, which has been quiet as more companies… Continue reading >>

Wearables for retail payments?

Wearable technology is set to become an everyday part of retail on the shelves, on the shop floor, in the stock room and in the back office. In just a handful of years, wearable technology has moved right into the mainstream. Who would have thought five years ago that pensioners, for instance, would be casually walking around with fitness monitoring… Continue reading >>

$5.6 trillion SME international money transfer market

The SME international money transfer market is large and well-established with over 100m businesses worldwide, increasing by nearly 8% annually. These businesses represent a huge FX and money transfer market, making a combined $5.6 trillion in international payments each year with volumes and transaction sizes growing steadily year-on-year. Despite the market size, SMEs are underserved and overcharged by banks and money… Continue reading >>