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BPCE pilots dynamic CVV code for online shopping

France’s Banque Populaire and Caisse d’Epargne (BPCE) are piloting a payment card that replaces the three-figure CVV code on the rear of the card with a small screen display that automatically changes periodically. The cards will be offered to 1,000 customers of the banking group from September 2015. The bank says the technology, developed by Oberthur, will improve security for consumers… Continue reading >>

Banks rethink business models as PSD2 comes into effect

According to the PSD2 and XS2A – regulation or opportunity report, Europe’s banks are engaged in a do-or-die effort to prepare for the 2016 introduction of new payments regulations that are expected to usher in a wave of fresh competition and innovation across the sector. The revised Payment Services Directive (PSD2) is being introduced by the European Commission to further open the markets… Continue reading >>

The fall and rise of Tokenization

Apple Pay has breathed new life into tokenization and the use of tokenization has seen a revival due to new technology approaches that remove associated operational risks and complexities and enable increased scale and high performance transaction processing, especially in financial services and banking. PCM investigates how this technology made a comeback and is taking its place in the driving… Continue reading >>

Over €100 million of payments initiated via MyBank

PRETA S.A.S. announced today that the growing take-up of MyBank by consumers and businesses has started to translate into a significant pick-up of the value of transactions initiated via MyBank. In late April 2015, MyBank passed the mark of €100 million in transaction value. While MyBank had been processing transactions for a total value of €1 million during the month… Continue reading >>

Shipments of secure elements jump by over 12% in 2014

Eurosmart has released the 2014 figures for the worldwide secure elements shipments and the smart secure contactless markets as well as the corresponding 2015 forecast. The data provided by Eurosmart consist of the consolidated figures supplied by its member companies which comprise all major players in the industry. They are the reference point for information on and in the industry…. Continue reading >>

HPS partners with Gemalto for tokenization

HPS announced a new global partnership with Gemalto for tokenization. Tokenization is the process by which payment account information is replaced by an alternate value called a token. Issuers, Merchants and Processors who use tokens are able to significantly reduce the risk that sensitive cardholder data may be stolen by data thieves. This is widely regarded as one of the… Continue reading >>

3.4 billion EMV chip payment cards in global circulation

Official figures for Q4 2014 released by the global technical body EMVCo show that significant advances are being made globally in the adoption of EMV chip technology. By the end of last year, the number of EMV payment cards in circulation rose by 1 billion, up 43%, to 3.4 billion, from 2.37 billion in Q4 2013. According to the latest… Continue reading >>

Payment Card Tokenization

Tokenization is a technology that allows for more secure payments by substituting sensitive consumer account data for a random number that is unique to each transaction – a digital token. This token contains no consumer account data, and instead is simply a map to where the bank has stored a consumer’s data within its own secure systems. Because tokens are… Continue reading >>

Coinbase opens exchange in UK

Coinbase, the world’s most well-funded bitcoin company, has opened its exchange and online wallet in the UK, targeting British enthusiasm for the digital currency as it eyes international expansion. The San Francisco-based start-up launched its UK services on Tuesday after securing a banking partnership with an unnamed European bank – according to an article in the FT. The launch is… Continue reading >>

Instant Payments – the future retail payments market – an ECB viewpoint

Should payments be as quick as emails or messaging with smartphone apps? Should funds be transferred instantly from sender to receiver around the clock? Many actors are paying more attention to instant payments and often cooperative initiatives are emerging in different regions of the world. In Europe, both the industry and public authorities are involved in discussions and projects to… Continue reading >>