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BNP Paribas trails dynamic CVV card codes

BNP Paribas is set to pilot Oberthur’s OT Motion Code technology, replacing the three-figure CVV code on the rear of a card with a dynamic CVV small screen display that automatically changes periodically. The bank will issue 1000 of the cards, which have a screen on their back displaying a security code that is regularly refreshed, to selected customers for use… Continue reading >>

Turkey launches a national payment system

Turkey is set to launch a national payment system, the national payment scheme is due to be implemented by 2016 and is currently being branded as TROY. “Our sector is moving fast, both locally and globally.  We need a local solution, that will bring independence and economies required to innovate in payments,”comments Soner Canko, CEO, BKM (Interbank Card Center of Turkey ). “The Turkish banking sector has the know… Continue reading >>

US EMV migration will take years

Its October the 1st. The deadline for US merchants to accept secure chip-enabled credit and debit cards,the US EMV migration, may take years for the conversion to be fully implemented. “Realistically, we should expect the adoption of chip cards in the US to take a few years,” says Gartner analyst Avivah Litan.  Banks are issuing chip cards to millions of customers… Continue reading >>

European real-time payments progress

While the outlook for real-time payments in the US market remains fragmented and uncertain for the time being, in Europe the pace of development and usage is quickening and real-time payments (or “instant payments”) is clearly a key strategic topic for today. Instant payment schemes for retail payments based on bank transfer are now present in around 10 markets worldwide, depending on… Continue reading >>

Discover start accepting Apple Pay

Discover has announced it will integrate with Apple Pay. Apple Pay already accepts users with MasterCard, American Express, and Visa, and Discover’s participation means Apple Pay is now compatible with all major credit cards. Discover also is trying to lure Apple Pay users to be more active by offering an additional 10% cashback bonus on up to $10,000 of in-store purchases…. Continue reading >>

$20 trillion spent on payment cards worldwide in 2014

New research by RBR shows that the number of payment cards in circulation worldwide increased by 11% in 2014 to reach 12 billion, largely driven by strong growth in Asia-Pacific and the Middle East and Africa. The migration away from cash and cheques helped boost worldwide card spend to $20 trillion, a 15% year-on-year growth. 78% of the 235 billion… Continue reading >>

Visa US EMV figures show slow progress

18% of the 720 million Visa-branded credit, debit, and prepaid cards in the US contained an EMV chip as of July, according to new Visa figures. Visa’s figures also indicate about 295,000 merchant locations were enabled for chip card acceptance at the end of July, up 19% from the 247,000 at the end of June. However, despite these gains, support for… Continue reading >>

EVO acquires Citi’s Merchant Acquiring business in Mexico

EVO Payments International (EVO) has announced the successful completion of the purchase of Citigroup’s merchant acquiring business in Mexico, conducted through Banco Nacional de Mexico S.A. (Banamex), a wholly-owned subsidiary of Citigroup. As part of the transaction, Banamex and EVO entered into a 10 year strategic marketing alliance that includes an exclusive referral arrangement covering card acquiring and related products for Banamex’s… Continue reading >>

TSYS signs payments agreement with Metro Bank

TSYS announced that it has signed an agreement to process Metro Bank’s credit and debit card portfolios on TSYS’ TS2 processing platform, as well as provide Metro Bank fraud management services through TSYS Managed Services EMEA. Metro Bank is the UK’s first new high street bank in more than 100 years. It offers personal, business and private banking. Aisling Kane, chief operating… Continue reading >>

UK spend limit on contactless cards lifted

UK consumers will now be able to spend up to £30 using contactless cards after the limit was increased. The limit per transaction for contactless cards, which do not require a PIN or a signature to authorise payment, was previously £20. The move follows a huge rise in the number of people using contactless cards in the UK. Transactions for the… Continue reading >>