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MasterCard plans end of passwords for online payments

MasterCard has outlined its vision for online payments beyond passwords, making life simpler for cardholders while increasing security. The company has been leading the co-creation of a new authentication standard, which when adopted, will be the largest wholesale upgrade to online payment security.  It will benefit consumers, banks and merchants alike, with invisible authentication and far fewer prompts for passwords. By… Continue reading >>

V.me digital payment service continues to grow in Europe

Visa Europe says that V.me is now in pilot with Member banks in Norway, Sweden, Italy and Germany, taking the number of markets live or in pilot across Europe to 9. Visa Europe confirms ING Direct (Italy), Landesbank Berlin (Germany) and BW-Bank (Germany) have all now made their first live V.me transactions (supported by WorldPay as European acquirer) and will join leading… Continue reading >>

MyBank SEPA Direct Debit core mandates go live

MyBank went live with MyBank Mandates for SEPA Core Direct Debits today following the successful conclusion of the first Joining Window. Financial institutions and service providers are in the process of rolling out this pan- European electronic mandate solution for SEPA Core Direct Debits (SDDs) to corporate and retail customers across Europe. By enabling buyers to conveniently pay via SDD… Continue reading >>

PCI SSC warning: European online transactions under cyber attack

European merchants need to pay more attention to securing electronic payments, warns the Payment Card Industry Security Standards Council (PCI SSC), in a stark warning over cyber attack. This was one of the key messages at the recent Annual European Community Meeting in Berlin, Germany of the PCI SSC, which administers the industry’s data security standard (PCI DSS). “Cyber criminals have intensified… Continue reading >>

Apple Pay launches

Apple’s new payment system, Apple Pay, rolls out at some retailers and promises more protection from hackers. With cybersecurity threats showing no sign of slowing down, perhaps it is time to reconsider the way we pay. Enter Apple Pay, the system that encrypts credit card data from retailers. Apple Pay is available on new iPhone 6 models with the iOS 8.1 update. The payment system… Continue reading >>

Compass Plus powers Klarna’s global expansion

Compass Plus has announced that it has successfully completed the implementation of its open development payments platform TranzAxis with Klarna, a leading European online payment provider. Klarna makes online payments easier and safer, enabling consumers to purchase goods using just their email address and postcode, cutting out the need for passwords. The TranzAxis platform, which was implemented in just six… Continue reading >>

Alibaba make new financial services push

Chinese e-commerce firm Alibaba Group said on Thursday it has folded six different businesses into a single business unit and changed the name of its Alipay financial services affiliate to Ant Financial Services Group as it steps up its push into the financial services industry. Alibaba has been aggressively offering new financial services around Alipay, including a money market fund for consumers,… Continue reading >>

W3C launches web payments initiative and reduce fraud

The World Wide Web Consortium (W3C) says it will begin a new initiative to integrate payments seamlessly into the Open Web Platform and help tackle fraud. W3C calls upon all industry stakeholders – banks, credit card companies, governments, mobile network operators, payment solution providers, technology companies, retailers and content creators – to join the new Web Payments Interest Group and leverage the unique ability of the Web… Continue reading >>

Japanese social media network Line moves into payments

Japanese social media messaging network Line has entered the payments market with a service for both online and in-store transactions. Line, which has 560 million registered users worldwide, will enable Japanese customers to link the Line mobile app to their bank accounts and credit cards. Users will then be able top up their Line account and make purchases online and… Continue reading >>

Payments matter as e-commerce sites lose revenue through lack of choice

E-commerce merchants based outside of the UK could be losing out on vital global sales from Generation Y by failing to convert browsers into buyers at the checkout. New research[1] into the online buying habits of 1,000 UK adults commissioned by The PPRO Group found that, of those who have tried to buy goods from overseas retailers, a massive 64%… Continue reading >>