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eBay and PayPal Split: What’s Next?

By the end of 2015 eBay and PayPal will become independent, publicly-traded entities. A combination of shareholder pressure and competitive innovation is believed to be the source of eBay’s September 30th announcement to spin off PayPal. Carl Icahn, who acquired a 0.82% stake in eBay, had been calling for a split since January 2014, saying eBay was holding PayPal back… Continue reading >>

Paym signs HSBC for business users

Paym is set to roll out its mobile payments service for Business Internet Banking subscribers of HSBC. Until now HSBC’s Paym service, which launched in the UK in April this year, has been limited to personal current account holders, but now the bank’s 6000,000 online business customers will also be able to sign up to receive payments direct to their… Continue reading >>

EPC updates the SEPA Credit Transfer and SEPA Direct Debit rulebooks

The European Payments Council (EPC), representing the European banking industry in relation to payments, has published updated versions of the SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) Rulebooks. The SCT Rulebook version 8.0, SDD Core Rulebook version 8.0 and SDD Business to Business (B2B) Rulebook version 6.0 and associated implementation guidelines will take effect on 22 November 2015. In… Continue reading >>

Virtual currencies set to disrupt major markets within 5 years

Virtual currencies are likely to be a major disruptive force within five years, according to a new study published by Technology Strategies International. The report titled, The Future of Virtual Currencies, recommends that organizations that are in the path of this disruptive wave starting preparing themselves now. Since the genesis block of Bitcoin appeared in January 2009, more than 1,700… Continue reading >>

Half of UK consumers using digital wallets

More than half of UK consumers (54%) now say they often or always use digital wallets to pay for goods online. This is according to a survey of 2,000 UK adults commissioned by digital payments experts Skrill. More than one in ten 18-24 year olds (14%) now use digital wallets for every purchase they make online. However, a generational gap… Continue reading >>

Visa Europe set to cost $10 billion

Visa Inc. the world’s largest credit and debit card company, believes it might have to pay more than $10 billion to buy its London-based European licensee, Visa Europe Ltd, if its owners exercise their option to sell it. Visa might issue debt or equity, or need third-party financing, to fund the purchase of Visa Europe, it said in an annual filing with… Continue reading >>

US retailers see surge in NFC payment

Retailers in the US are seeing an uplift in NFC payment transactions in the three weeks following the launch of Apple Pay, according to The New York Times. Grocery chain Whole Foods said it had processed more than 150,000 Apple Pay transactions, while Walgreens, the nationwide pharmacy, said mobile wallet payments had doubled since the arrival of Apple’s NFC-based payment service…. Continue reading >>

Data analytics accelerates disruption in banking

Access to data and the ability to effectively manage data analytics will decide which financial institutions prosper and which will be supplanted during this wave of transformation – this was one of the key conclusions taken from a recent report titled ‘Analyse This, Predict That’, which explores the financial services sector’s data analytics capabilities, and how players may use data analytics… 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 >>

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 >>