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US merchant card processing fees rising

With more Americans using credit, debit and prepaid goods to pay for goods and services, the merchant card processing fees to process those cards continues to rise. General purpose and private label credit, debit, and prepaid cards generated $5.165 trillion in payments for goods and services in 2014.  Processing fees, including interchange paid by US merchants to handle that business, were… Continue reading >>

JCB begins card issuing in India

National Payments Corporation of India (NPCI), an organization established by the Reserve Bank of India and being an umbrella for all India’s payments system, and JCB International say that both parties entered into a strategic partnership for acceptance of JCB cards at all NPCI acceptance locations under the NPCI network, which has 1 million card merchants and 200,000 ATMs across India…. Continue reading >>

Banks adopting biometrics against fraud

A new impact report finds that the use of knowledge-based analytics are on a fast decline, while various forms of behavioural analytics continue to see strong growth. The report, “Digital Channel Fraud Mitigation: The Mobile Force Awakens,” details the latest threats to banks and their customers, and looks at the technologies being used by banks. The research, which is based on spring… Continue reading >>

Amex loses out at POS

After years of prohibiting merchants who accept its cards from steering customers to other brands, American Express is being forced to lift those restrictions. The change comes after a federal judge in February found that AmEx’s rules on the matter were anticompetitive; a separate court this week denied the company’s request to keep the rules in place pending its appeal. That… Continue reading >>

Western Union remittance deal with MasterCard in Romania

Western Union, the global remittance specialist, and MasterCard have entered into a deal that will enable remittances originated from nearly anywhere across the globe to be received on Maestro and MasterCard consumer cards using ATMs across Romania, one of the largest remittance receivers in Eastern Europe. An innovative tripartite agreement between Western Union, MasterCard and Banca Transilvania (BT) will provide… Continue reading >>

UK cardholders spend £26 billion abroad

Last year UK holidaymakers spent £26.4 billion using their cards overseas, making almost 14 transactions every second, according to figures from the UK Cards Association. For the first time annual overseas card spending figures have been published that do not include transactions from UK internet retailers made in pound sterling but processed abroad, giving a clearer picture of how people… Continue reading >>

ICA Banken goes contactless with Oberthur

Oberthur Technologies, a global digital security solutions specialist, and Sweden’s ICA Banken have announced the launch of the first dual interface contactless payment cards in Sweden. ICA Banken and Oberthur will distribute 500,000 cards to ICA Banken customers in the coming months. The Swedish group will take advantage of OT’s expertise in dual interface NFC migrations and capacity to produce… Continue reading >>

Domestic Card Schemes in Europe – A Status

The landscape of domestic card schemes in Europe has changed dramatically following the implementation of the European Economic Area, the Payment Services Directive and the SEPA Cards Framework. The domestic card schemes in the UK, Ireland, Luxembourg, the Netherlands, and Finland have been phased-out and are replaced by cards by international cards branded VISA Debit, Debit MasterCard, Maestro or V PAY,… Continue reading >>

Virgin Money chooses MasterCard for debit cards

MasterCard has announced that Virgin Money has entered a long-term agreement to issue contactless-enabled MasterCard debit cards to the bank’s growing customer base. According to MasterCard, it has developed a strong proposition and track record of working with challenger banks and new entrants to the banking sector to add to the choice and competition available to customers. The new agreement between… Continue reading >>

UnionPay hits 5 billion issued mark

China UnionPay aims to become a global bank card company, Ge Huayong, chairman of China UnionPay and UnionPay International, said on Wednesday. Ge made the remarks after a speech at the Shanghai City Campaign Forum of the Milan Expo, where he briefed an audience of about 200 industry experts on the growth history and functions of China UnionPay. He also… Continue reading >>