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People’s Bank of Kazakhstan to launch UnionPay chip card issuing and acquiring

People’s Bank of Kazakhstan (Halyk Bank), the largest bank in Kazakhstan and Central Asia, together with OpenWay, have launched issuing and acquiring of UnionPay UICC chip cards. This is the first project of its kind in Central Asia. The project to support the issuing of UnionPay chip cards and acquiring at ATMs and POS terminals was completed in just four… Continue reading >>

5 fraud predictions for 2015: Technology will shape the fight

Technology will give fraudsters an edge in 2015, but it will also provide new tools for organisations and investigators, according to experts from the Association of Certified Fraud Examiners (ACFE) who were asked for their top fraud predictions for 2015. The experts weighed in on digital currencies, information security and other issues that will help shape the effort to prevent… Continue reading >>

Apple Pay early adoption stats

ITG Research has released  figures which show that iPhone users, via Apple Pay, were responsible for 1% of digital payment dollars spent in the month of November. The ITG Mobile Payments report, which uses data from the firm’s proprietary consumer panel, found that Apple Pay customers used the service roughly 1.4 times per week, with a return rate of 66% for future transactions… Continue reading >>

Consumers will switch banks to access mobile payments

21 million British consumers say they will switch banks to access mobile payments, as anticipation for new ways to pay builds, according to new research from Zapp. 44% of consumers plan to switch accounts if their current bank was unable to offer mobile payments and had no plans to do so. Of these, a third (33%) say they would do so… Continue reading >>

Do we need a new EU network for EU payments interoperability?

Suddenly the key EU’s stakeholders (ECB/EC) are talking again about technical payments interoperability and new payments networks.  Many may ask why, for they have struggled over 10 years to fully understand EU market dynamics.  Surely, the regulators simplistically ask, we can make our 28 domestic networks more efficient and create a common infrastructure to enable any scheme and any payment… Continue reading >>

Banks still top for consumer trust

Consumers trust banks far more than they do companies like Google, Apple and Amazon to protect their card details and personal financial information, according to research by Bizrate Insights. Bizrate Insights, a division of Connexity (formerly Shopzilla), found in a survey of over 6200 online buyers, a considerable lack of trust around credit card and personal information security among even… Continue reading >>

Card fraud credit cards using quantum physics?

Dutch researchers claim to have enabled the power of quantum mechanics in a way that could be used to make card fraud a thing of the past. In a paper posted in journal Optica, the team outline how the peculiar quantum properties of photons, that allow them to be in multiple locations at the same time, can be used to authenticate… Continue reading >>

EU agrees caps on debit and credit card interchange fees

Interchange fees to process debit and credit card transactions are to be capped under an EU law that attempts to wrap-up a protracted battle with payment groups such as Visa Europe and MasterCard. Negotiators for EU member states and the European Parliament on Wednesday night agreed draft terms to introduce maximum fees to handle card transactions, scaling back a multi… Continue reading >>

MBNA launch digital wallet with MasterPass

MBNA has, in partnership with MasterCard, launched a trial of a digital wallet. Once the trial is complete in early 2015, the MBNA Wallet could be quickly rolled out to customers. This will enable customers to securely store their credit and debit cards in their ‘e-wallet’ and, at the checkout for their online shopping, select which card to use to… Continue reading >>

Global ATM market expected to hit $22 billion in 2020

A new report by Allied Market Research predicts that the global ATM market will expand at a compound annual growth rate of 7.6% between 2014 and 2020, to a total of $21.9 billion. The report, “Global ATM Market — Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013-2020,” correlates the integration of wireless communicating devices (i.e., smart phones) with ATMs globally… Continue reading >>