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All in one wallet card – Swyp

As the race to win space in your wallet gains further momentum there is a new player in town: Swyp. Everybody, from Apple to Google, has a digital wallet these days that takes the credit cards, loyalty cards, and other cards out of our pockets and moves them onto our mobile phones. But to Qvivr, the startup behind Swyp, the… Continue reading >>

EU agree caps on debit and credit card interchange fees

Following the release of the final compromise text for the proposed Regulation on interchange fees for card-based payment transactions (the MIF Regulation) on 19 January 2015, European countries have finally endorsed the legislation (21 January 2015). The European Commission originally proposed the MIF Regulation in July 2013, but it has taken considerable time for the various EU governments and the… Continue reading >>

Supreme Court rejects debit card interchange challenge

The Supreme Court handed US banks a victory as it declined to consider a challenge by a group of retailers to Federal Reserve regulations setting fees for processing debit-card transactions, debit card interchange. The high court’s action on Tuesday, which came in a brief written order, removes uncertainty for the banking industry by ending a three-year federal court battle over… Continue reading >>

EMV banking cards extend reach of Vodacom m-pesa mobile wallet

The deployment of prepaid EMV banking cards to complement Vodacom’s m-pesa mobile wallet service in South Africa will significantly extend the reach of the South African operator’s services. The card is certified by the major international payment schemes and accepted at any of the 240,000 EMV-compliant payment terminals and over 27,000 ATMs throughout the country. The card links seamlessly to… Continue reading >>

Diners Club International expands acceptance throughout Europe

Diners Club International, a business unit of Discover Financial Services and part of the Discover Global Network, and The Logic Group, announced a signed agreement that will grow Discover and Diners Club card acceptance in the UK and Europe. This agreement is part of Discover Global Network’s overall strategy to partner with key payment service providers to help drive increased… Continue reading >>

Microsoft deploy PayPal mobile payments

PayPal has joined forces with Microsoft to bring its PayPal Here hardware card readers to Windows devices, as well as develop EMV-compliant readers. The collaboration is aimed at small and midsize businesses (SMBs) and merchants looking to enahnce their in-store experiences with mobile devices. The card reader will become available later in 2015 for several Microsoft devices, including the Surface… Continue reading >>

Multiple payment options critical to merchants

A lack of payment options are forcing customers to abandon their baskets and merchants to miss out on sales. Online retailers are dramatically losing out on sales by failing to address customers’ preferred payment methods. According to research[i] by international electronic payment specialists, The PPRO Group, 68% of UK consumers have abandoned an online retail site due to the payment process. Over… Continue reading >>

US cards will fall short on fraud as issuers shun PIN

Big US banks are steering clear of an advanced security measure used in credit cards around the world, opting for a system that is more convenient for shoppers but may leave them vulnerable to fraud. In 2015, firms ranging from J.P. Morgan Chase & Co. to Discover Financial Services are expected to roll out more than a half-billion new credit cards… Continue reading >>

MasterCard agrees to process transactions in Russia

MasterCard says it has reached an agreement with Russian authorities to process its payments in Russia, the Russian central bank announced on Monday. MasterCard and Russia’s national payment system agreed on December 30th to gradually move the processing of the US company’s transactions within Russia under the roof of its Russian counterpart, the central bank said. The Bank of Russia will act… Continue reading >>

Behalf, Comdata and MasterCard collaborate on SMB financing

MasterCard, Comdata and Behalf have teamed up to enable small- and mid-sized businesses (SMBs) to have a more flexible and convenient way to pay their vendors. The initiative helps improve cashflow for SMBs by providing alternative payment terms for their payments to merchants that accept MasterCard and are approved for participation by Behalf. Behalf provides working capital lines to small… Continue reading >>