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Fraud victims less confident with affected businesses

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Around 72% of US consumers affected by fraud have also been victims of data breaches, according to data from the National Consumers League and US research company Javelin Strategy and Research. Research examined the impact of data breaches and identity fraud on consumer victims in four key regions in the US, including the Chicago metropolitan area. Results indicate that US… Continue reading >>

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Square plans US EMV card reader

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mPOS payment player Square has revealed plans to launch a EMV-compliant chip and signature version of its mPOS dongle as the US continues to implement EMV. Square has built a new version of its card reader which includes a slot for customers to place their cards in during transactions. Square has not built a PIN pad into its reader, with… Continue reading >>

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Juncker considers creating financial services tsar

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A new European Union (EU) financial services tsar tasked with regulation and ensuring financial stability in the EU would be appointed in Brussels under new plans being considered by Jean-Claude Juncker, the incoming European Commission president. Juncker is considering creating a stand-alone finance directorate. The plans will give a single commissioner a united financial services portfolio. At present EU financial… Continue reading >>

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MNOs could save millions on compliance

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Europe’s mobile network operators (MNOs) could save millions of euros per year with better management of mobile payments compliance, according to  mobile monitoring experts Empello. In the UK, a market with 80 million mobile subscribers, Empello estimates that £400,000 could be saved per year by the big four UK operators, just from the reduction in call centre costs. Across Europe,… Continue reading >>

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Google Bank unlikely to happen – Forrester

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Google is unlikely to launch a traditional bank because of the associated costs and regulation, according to a new report from research firm Forrester. Instead, Google will likely become a hub for financial services, facilitating relationships between consumers and financial service providers. According to report author Oliwia Berdak, this will cause disruption in the areas of payments, money management, product… Continue reading >>

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Nintendo launches NFC payments on Wii U in Japan

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Japanese game console maker Nintendo is enabling gamers in Japan to purchase titles on Nintendo’s eShop by tapping their contactless NFC payment cards against their Wii U controllers. Nintendo is leveraging the console’s built-in NFC capabilities to let customers make payments with various contactless cards, including Suica, Pasmo Kitaca, Toica, Manaca, Icoca. Nintendo’s deal with the East Japan Railway Company… Continue reading >>

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China becomes the world’s largest ATM market

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China became the world’s largest ATM market in 2013, surpassing the US, according to the latest report “ATMs in China 2014” strategic research and consulting firm Retail Banking Research (RBR). The number of ATMs in China has grown dramatically in recent years, but despite the large installed base and already high growth rate, growth still managed to accelerate in 2013…. Continue reading >>

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TSYS Q2 revenues upbeat

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TSYS announced its revenues for Q2 2014 increased by 30.4%, while its adjusted earnings per share (EPS) from continuing operations were $0.45, an increase of 19.8%. According to a company press release, total revenues year-to-date were $1.2 billion, an increase of 31.2%. Additionally, TSYS said that company revenues before reimbursable items were $1.1 billion, which is an increase of 35.7%. “We… Continue reading >>

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UK’s Payments Council in merger talks with British Bankers Association

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The UK banking industry’s main lobbying group, the British Bankers Association, is considering a proposal to merge with at least two of its peers amid pressure from leading members to reduce costs levied by trade organisations. According to Sky News – the British Bankers Association (BBA) discussed potential mergers involving the Payments Council and the UK Cards Association at a… Continue reading >>

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