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ECB: Digital currencies unstable

The European Central Bank has published a new report on digital currencies, describing them as “inherently unstable” whilst remaining upbeat about the potentially transformative benefits they may offer in payments. The ECB study builds off an earlier study published in 2012, offering both a general overview of digital currencies as well as follow-up analysis on the potential benefits and risk of using so-called virtual… Continue reading >>

Mobile money for the unbanked – an industry report

The GSMA Mobile Money for the Unbanked (MMU) programme has releases its 2014 State of the Industry Report on mobile financial services. Published annually, the report provides industry practitioners with insights into the important developments taking place in mobile money, mobile insurance, mobile savings and mobile credit. The mobile financial services sector continued to expand in 2014, boosted by the creation… Continue reading >>

Evaluation of mobile banking at the top Latin American banks

Celent has explored mobile technology and the breakthrough of mobile banking apps in the retail banking industry in Latin America, focusing on the top 10 institutions. The next logical move is to push the boundaries of services into consumer-related activities tied to financial services products, taking advantage of the huge amount of data banks have and the geolocation capabilities of… Continue reading >>

Apple Pay experiencing high fraud exposure

Apple Pay has gained momentum quickly, in typical Apple fashion, with 2,000 financial institutions committed to support it, millions of cardholders actively enrolled, and two-thirds of all contactless transactions in December 2014 coming from Apple Pay devices. But Apple Pay is not without growing pains, including higher-than-expected fraud rates in certain cases. As a result, some participants are learning hard… Continue reading >>

EMV Liability Shift – 212 Days to Go

October 2015 marks a major milestone in the US payment industry’s migration to EMV as the liability shift comes into effect. After the liability shift, the party on a card transaction—the issuer, acquirer, or merchant—who does not support EMV assumes the liability for counterfeit card transactions and, in some cases, for lost and stolen card transactions. According to a survey… Continue reading >>

Egyptian Government and MasterCard collaborate to extend financial inclusion

The Government of Egypt, represented by the Ministry of Communications and Information Technology, and MasterCard announced the details of a recent Memorandum of Understanding (MoU) that will aim to extend financial services to 54 million Egyptians. As part of the agreement, MasterCard will work with the government to roll out a digital ID program that links citizens’ national ID to the… Continue reading >>

PayPal acquires mobile payments firm Paydiant

PayPal has agreed to buy Paydiant. In an announcement on the PayPal website, Dan Schulman, PayPal President and CEO, said: “Today, I am excited to announce that we agreed to acquire Paydiant, another great company that is focused on reinventing mobile payments. While Paydiant may not be a name you recognize, if you like to pay with mobile apps, you are… Continue reading >>

Ingenico introduces mPOS

Ingenico has launched the RP170c, an audio jack-based mPOS dongle that can accept payments made by mobile phone. The RP170c offers support for both NFC/contactless and mag-stripe payments via a 3.5mm standard audio jack that can be plugged into any iOS or Android device. The kit comes with an audible buzzer and color LEDs to signal completed contactless transaction and a software developer… Continue reading >>

Samsung unveils Galaxy S6 and Samsung Pay

Samsung has launched its latest flagship devices at Mobile World Congress, with its Galaxy S6 joined by Galaxy S6 edge – a smartphone with a curved display on both sides. While remaining the dominant player in the Android space, Samsung did not have an easy ride in 2014 – something the company acknowledged in a statement. “By listening to our customers,… Continue reading >>

SIA continues strong European growth

The Board of SIA, meeting under the chairmanship of Giuliano Asperti, has approved the Financial Statement at 31 December 2014. The results achieved by SIA show a further improvement after that recorded in the previous financial year, which had already shown an extremely positive trend. All economic targets in terms of revenues and profitability in the 2014 Budget were amply… Continue reading >>