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CaixaBank to invest €500m in next-generation ATMs

Spain’s CaixaBank has signed an agreement with ATM manufacturer Fujitsu to manufacture 8,500 new terminals featuring cutting-edge technology and to innovate jointly on a global scale. The new ATMs are fitted with contactless readers capable of scanning cards, mobile phones and wearables, and all offer banknote recognition technology, among other improvements. CaixaBank boasts Spain’s largest ATM network and the third-largest… Continue reading >>

PFS launches first prepaid MasterCard for Finland

UK prepaid solution provider Prepaid Financial Services (PFS) has announced the launch of the Airopay card, the first prepaid MasterCard in Finland. The card is denominated in euros and is available to the public. The card is aimed specifically at loan pay-outs – cardholders can load directly from a bank account using several Finnish banks. Noel Moran, CEO of PFS,… Continue reading >>

Russia forges closer ties with China UnionPay

Russia’s MDM Bank has partnered with Chinese payment network China UnionPay (CUP) to issue CUP-branded cards. Other Russian banks, including Alfa Bank, Gazprombank and Bank of Moscow are also preparing to start implementing and issuing CUP card capability, according to Russian press reports. MDM Bank has also stated that CUP cardholders will be able withdraw cash at MDM Bank’s ATMs… Continue reading >>

UK banks launch bounced fee system

UK banks are launching a ‘retry’ system that will give customers a second chance to avoid bounced payments and their associated fees. From 1 September, when a customer’s standing order, direct debit or future-dated payment bounces because of insufficient funds in the account, the payment will be processed again by their bank or building society later the same day. This… Continue reading >>

Oberthur Technologies acquires NagraID

Digital security specialist Oberthur Technologies has signed an agreement to acquire display card manufacturer NagraID Security. Oberthur will acquire a 100% equity stake of NagraID Security from the Kudelski Group and the company’s management. NagraID Security develops and markets powered display cards to secure access to the cloud, primarily for companies operating in the field of financial payments, authentication and… Continue reading >>

First Annapolis highlights US EMV push

US consultancy First Annapolis has highlighted how issuers are feeling heightened pressure to migrate card portfolios to EMV as the October 2015 liability shift deadline quickly approaches. After a spate of data breaches at major merchants over the past six months, and the recent resolution of the Durbin-related litigation and announcement of cross-licensing agreements among several debit networks for use… Continue reading >>

US EMV cards to top 575 million by 2015

More than 575 million US EMV payment cards will be in issue by the end of next year, according to a statement issued jointly from Visa and MasterCard on Wednesday (13/08/2014). That number is partially based on EMV shipment plans from nine key card issuers: Bank of America, Capital One, Chase, Citi, Discover, Independent Community Bankers of America (representing issuing members), Navy Federal Credit Union, US… Continue reading >>

European card fraud losses hit new high

FICO has published its latest map of card fraud in Europe, showing that card fraud losses in 2013 for the 19 European countries studied reached €1.55 billion. This figure was a new high, and slightly more than the previous peak in 2008, according to data supplied by Euromonitor International. While the UK experienced £450 million in losses, the highest level… Continue reading >>

PSD2: A ‘bull by the horns’ approach to open access

As the European Commission moves closer towards its ambitions of creating a single European payments market, one proposal put forward in Article 58 of the upcoming Payment Services Directive (PSD2) could have a far-reaching effect on the way payments are transacted across the 28-member bloc. The article includes a provision to regulate third party (so-called “third party payment service providers”)… Continue reading >>

UK banks face competition probe

The UK Competition and Markets Authority (CMA) is planning to launch an investigation into the UK retail banking sector in a move which could see high-street giants being broken up. The CMA has made a provisional decision to go ahead with a full-scale, 18-month long inquiry into the industry, although it will first carry out a consultation before making a… Continue reading >>