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Ingenico joins Worldpay bid melee

Ingenico has submitted a bid to buy Worldpay, two sources familiar with the matter say, as the contest heats up to take control of Europe’s leading payments processor. Worldpay, owned by private equity firms Advent and Bain, is heading for a London flotation in the autumn that could value it at around £6 billion ($9.2 billion). But the company has… Continue reading >>

Facebook creates AI-powered virtual assistant

You might wander why an AI story is appearing in a payments blog, but AI payments may well be here sooner than you think. Facebook has created a virtual assistant powered by artificial intelligence that can do everything from organising birthday parties to calling companies so users do not have to spend hours on hold. The M service — which… Continue reading >>

Credit card: unsuitable for online payments

The credit card was originally designed for making cashless purchases at stationary retailers. The idea was that the cardholder would produce the signed card when paying – when he or she then signed the receipt, the two signatures would be compared, conclusively confirming the link between the cardholder and the card. In some cases, picture ID was even asked for as… Continue reading >>

Visa Checkout a hit with online consumers

Visa says that online shoppers using its Visa Checkout payment service are 17% more likely to complete their purchases than those using PayPal. Visa Checkout, which allows shoppers to store their payment information without having to re-enter it every time they make a purchase online, said 66% of its enrolled customers completed their transactions after putting items in their shopping cart compared to 49% of… Continue reading >>

Advanced Payments – Which paths to success?

PCM in partnership with Edgar, Dunn & Co. and American Express unveil the findings of the latest Advanced Payments Survey. The annual Advanced Payments Survey, which this year has been produced by PCM in conjunction with American Express and written by consultancy Edgar, Dunn & Co. (EDC), has become one of the benchmark indicators of where the payment industry is… Continue reading >>

The Omni-channel challenge in Retail payments

More and more merchants in Europe feel the need to offer their services via multiple channels (i.e. physical stores, online, mobile etc.), embracing the so-called omni-channel retail approach. “In terms of payments, an omni-channel approach for merchants means accepting a wide variety of (offline and online) payment methods,” explains Evelien Witlox, General Manager Product Management & Innovation at Equens. “As –… Continue reading >>

Coinify acquires digital currency rival Coinzone

Danish digital currency processor Coinify has acquired Dutch rival processor Coinzone in order to create a pan-European provider of payment processing for online merchants and payment service providers. The deal will extend Coinify’s merchant customer base to 10,000 online clients and will strengthen the firm’s plans to raise capital in a Series A round of funding. Coinify has embarked on… Continue reading >>

Android accounts for most mobile fraud – Kount

The rate of mobile fraud is highest on Android devices, according to new data from fraud specialists Kount, with mobile fraud also outpacing that of online and in-store fraud for the first time this year. The company analysed over 100 million transactions across various devices from its customer base of thousands of merchants across all retail categories from 2011 to… Continue reading >>

PayPoint launches Advanced Payment suite

PayPoint, a global payment technology provider has launched its third generation “Advanced Payments” platform for mobile and online merchants. According to PayPoint, the new digital platform has been designed from the ground-up to address the needs of fast-growing businesses through robust, innovative and highly flexible features. The platform includes two flagship products, Cashier and CardLock, which address the most common… Continue reading >>

Australian Senate: treat digital currency as regular currency

The Australian Senate has stated that digital currency transactions should be treated in the same way as regular currency for the purposes of taxation. An earlier judgment from Australia’s Taxation Office that labelled bitcoin holdings as “intangible assets” was protested by Australia’s bitcoin community, which viewed an additional 10% tax as punitive. This judgment has now been overturned. The Australian… Continue reading >>