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Half of US POS terminals to accept EMV in 2015

The Payments Security Task Force (PST) has announced a forecast of participating acquirers estimating that at least 47% of US POS terminals will be enabled for EMV chip technology by the end of 2015. The estimates are based on forecasts provided by acquirers representing approximately 80% of USpurchase volume. Organizations participating in the forecast include First Data, Bank of America Merchant Services,… Continue reading >>

MasterCard and Zwipe announce world’s first biometric contactless payment card

MasterCard and Zwipe announced their partnership for the launch of the world’s first biometric contactless payment card featuring an integrated fingerprint sensor. The launch of the card comes after a successful live pilot with Norway’s Sparebanken DIN, aligned to the Eika Group, as an answer to the complex challenge of providing a fast, convenient payment solution that does not compromise on… Continue reading >>

Smartwatches face challenges as payment system

A recent GfK survey in China, Germany, South Korea, the UK and the US indicates that people in these countries see potential in using smartwatches to ‘carry’ tickets for passenger transport or as security keys to their computers and online accounts. The ability to transmit healthcare data via a smartwatch is also of particular interest to the majority of people…. Continue reading >>

200 billion card payments worldwide in 2013

A total of 205 billion card payments were made worldwide in 2013, a rise of 13% on 2012, according “Global Payment Cards Data and Forecasts 2013-2019”, a new report from RBR. This growth was slightly higher than the 11% increase in card numbers to 10.8 billion, which reflects an expanding global physical and virtual merchant acceptance network, as well as… Continue reading >>

Cross Border Acquiring interchange concessions – new risks for acquiring?

The recent card scheme cross border acquiring (CBA) concessions have created a new model for cross-border acquiring. By default they have become the European Commission’s ‘Plan A’ as a result of the delayed cards regulation sign-off. Merchants have once again outmanoeuvred banks and have won major benefits from the interchange caps and the significant changes in the terms of the… Continue reading >>

Germany to launch XML-based card clearing service

The German central bank says it is working on a new XML-based infrastructure for debit card clearing transactions for the country’s financial institutions. The central bank will work with EBA Clearing and will provide full reach to the German banking community for card clearing based on the Girocard scheme. The infrastructure is based on the pan European SEPA card clearing framework developed… Continue reading >>

World Payments Report 2014

Non-cash payments volumes are expected to grow 9.4% to reach 366 billion transactions in 20131, fueled by strong growth in developing markets and the use of credit (up 9.9%) and debit cards (up 13.4%[1]). With the continued acceleration of electronic and mobile payments growth and ongoing regulatory pressures, the payments industry is seeking to find new and innovative ways to… Continue reading >>

US debit card interchange cap to remain unchanged

According to news out of the US, the Federal Reserve Board says it will leave its debit card interchange cap for large issuers unchanged despite finding that some of their important expenses either declined last year or had changed little from levels found by an earlier survey. A major retailer trade group said the findings show debit card issuers continue to… Continue reading >>

ECB accelerates SEPA for cards plans

Now that SEPA direct debits and credit transfers are firmly established in Europe, the European Central Bank (ECB) is aiming to speed up SEPA for cards. In a new report, the ECB says that attention must now be focused on the harmonisation of cards. In 2012 there were around 40 billion card payments in the EU, compared to 26 million… Continue reading >>

The potential of payment data analytics

Payment data analytics is presenting significant opportunities for banks to drive additional revenues and enhance their value proposition. Banks are exploring numerous ways to generate real value from their payment data, with card-linked offerings and personal finance management (PFM) services leading the way, according to a report from Efma and Kurt Salmon, Payment innovation: Maximizing the potential of payment analytics…. Continue reading >>