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Instant payments at POS – overcoming customer and merchant barriers

Over the past several years, instant payments have become an increasingly important part of the payments landscape. The Euro Retail Payments Board (ERPB), European Central Bank (ECB), European Payments Council (EPC) and several national organisations have recently made announcements addressing the implications and regulation of this new payment option, as well as the impact of its rise on the operations… Continue reading >>

CEE joint venture to provide merchant payment services

Erste Group Bank AG (Erste Group) has entered into an agreement with Global Payments to establish a joint venture providing merchant acquiring and payment processing services (merchant payment services) to retailers in the Czech Republic, Romania and Slovakia. Upon completion of the transaction and pending regulatory approvals, Erste Group will sell 51% of its merchant acquiring businesses in the three… Continue reading >>

Wind of Change for Card Acquirers – Challenges for the card acquirer service model

Obviously, the consolidation within the European acquiring industry market is underway. The country profiles of the Payment Cards Statistical Yearbooks provide the individual background of the card acquirers by country, including new challenges, joint ventures, investments and acquisitions. In 2014, Europe had a fragmented card acquirer market with more than 300 acquirers accepting cards at millions of POS terminals, on the… Continue reading >>

First Data to IPO

First Data has taken its initial step towards a multibillion-dollar listing. First Data filed its paperwork for an IPO on Monday, but gave few details on the upcoming deal. The filing said it could raise $100m in the offering, but this was a place holder amount that is certain to change and no underwriters were listed. KKR will continue to control the company after… Continue reading >>

Samsung Pay trial launches in Korea

Samsung has announced the launch of its new mobile payments platform trial in Korea. The Samsung Pay month-long trial is in preparation for a global roll out to more regions. The company announced on the Samsung official blog that owners of the Galaxy S6 and Galaxy S6 edge are the first to be able to use Samsung Pay. The company boasts that… Continue reading >>

The millennials have arrived

The digital decade has re-shaped industries as far afield as healthcare and retail. By contrast, the financial services industry has remained relatively unaffected, until now. With a generation of ‘digital natives’ now coming of age however, what does this mean for the future of banking? And how should the world’s banks respond to the shifting expectations of the millennial generation? “The… Continue reading >>

US credit card use growth rate overtaking debit

US credit card use appears to be growing faster than debit card use, according to a new Federal Reserve Bank of Philadelphia report. The report shows between 2007 and 2012, credit cards’ share of payments increased 5% at gas stations and grocery stores, and 2% at discount stores. “The larger share gains by credit cards during that five-year period suggest… Continue reading >>

Danish Bitcoin outfit launches Bitcoin debit card

The Danish Bitcoin outfit CCEDK has announced that it is coming out with its own Bitcoin debit card. In addition to strictly storing the funds as Bitcoin or USD, the user will have the option to store their money as BitShares, which would be pegged to the value of the dollar or another major currency. This is a fundamentally lacking feature… Continue reading >>

Debit card dominates Australian payments market

Debit card transaction values increased from $274.9 billion in 2010 to $315.3 billion in 2014, at a CAGR of 4.90%; while, the credit card transaction values recorded a CAGR of 4.00%, increasing from $179.6 billion to $196.9 billion during the same period. Some of this changing preference away from credit card use can be explained by factors, such as an… Continue reading >>

Antitrust: Commission sends Statement of Objections to MasterCard on cross-border rules and inter-regional interchange fees

The European Commission has sent a Statement of Objections to MasterCard. The Statement of Objections outlines the Commission’s preliminary view that MasterCard’s rules prevent banks from offering lower interchange fees to retailers based in another Member State of the European Economic Area (EEA), where interchange fees may be higher. As a result, retailers cannot benefit from lower fees elsewhere and… Continue reading >>