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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 >>

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 >>

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 >> digital payment service continues to grow in Europe

Visa Europe says that 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 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 >>