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Android cyberattacks on 34 European banks

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The ways your online banking accounts are protected might be full of holes. Banks have been trying to prevent crooks from accessing your online accounts for ages. Passwords, PINs, coordinate cards, TANs, session tokens – all of these were created to help prevent banking fraud and cyberattacks. We recently come across a criminal operation that aims to defeat one of… Continue reading >>

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Hackers attack on European Central Bank

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It seems that no organisation, large or small is safe. The European Central Bank (ECB) has been hacked, with attackers stealing email addresses and contact data from the organisation’s public website. In a statement, the bank said that no internal systems or market sensitive data were compromised. “The database serves parts of the ECB website that gather registrations for events… Continue reading >>

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Apple mobile wallet

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In a further round of speculation and rumour, Apple’s talks with companies in the payment industry have been heating up in recent months regarding the launch of a mobile wallet, according to a new report from The Information. Apple executives have discussed launching a mobile payment solution as soon as this fall, allowing users to pay for physical goods with their… Continue reading >>

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PSD2: A ‘bull by the horns’ approach to open access

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As the European Commission moves closer towards its ambitions of creating a single European payments market, one proposal put forward in Article 58 of the upcoming Payment Services Directive (PSD2) could have a far-reaching effect on the way payments are transacted across the 28-member bloc. The article includes a provision to regulate third party (so-called “third party payment service providers”)… Continue reading >>

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TSYS Q2 revenues upbeat

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TSYS announced its revenues for Q2 2014 increased by 30.4%, while its adjusted earnings per share (EPS) from continuing operations were $0.45, an increase of 19.8%. According to a company press release, total revenues year-to-date were $1.2 billion, an increase of 31.2%. Additionally, TSYS said that company revenues before reimbursable items were $1.1 billion, which is an increase of 35.7%. “We… Continue reading >>

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Daily mobile transactions rise to $71m in Kenya

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Kenyans are transacting Sh6.2 billion ($70.49m) daily through mobile phones, Central Bank of Kenya has said. This is a rise from an average of Sh5.2 billion last year, underlining growing confidence in mobile money and cashless transactions. “The growth has been phenomenal.  It has become an important platform for financial services,” said CBK governor Njuguna Ndung’u in a recent presentation… Continue reading >>

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Amazon Wallet

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Amazon has quietly released a new Android and Fire Phone app, dubbed Amazon Wallet, which lets users scan cards with their phone and save them in the Amazon cloud, so they’re easily accessible when needed. Amazon’s first attempt at its own mobile wallet application, designed for use at POS, has made a quiet debut on the Amazon App store and on Google Play…. Continue reading >>

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UK’s Payments Council in merger talks with British Bankers Association

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The UK banking industry’s main lobbying group, the British Bankers Association, is considering a proposal to merge with at least two of its peers amid pressure from leading members to reduce costs levied by trade organisations. According to Sky News – the British Bankers Association (BBA) discussed potential mergers involving the Payments Council and the UK Cards Association at a… Continue reading >>

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Westpac trials HCE digital wallet technology

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Westpac is trialling Host Card Emulation  mobile payments (HCE digital wallet), the first bank in New Zealand to actively do so and one of only a handful of banks globally to be using the innovative ‘digital wallet’ technology. The three month trial, which uses Carta Worldwide HCE technology, enables credit and debit card details to be securely stored in a… Continue reading >>

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Global Mobile Payments Index Q2 2014: UK Ahead of Rest of World

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Adyen announced findings from its latest global Mobile Payments Index covering the period of April through June 2014.  During this period, on average mobile web payments accounted for almost 22% of all transactions on Adyen’s network worldwide. This represents a 9% increase over Q1 and a 33% increase over June 2013.  Looking specifically at the UK, mobile payments stand at… Continue reading >>

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