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UK’s Bacs payments network hits new heights

The UK’s Bacs Payment Schemes Limited (Bacs), the company behind Direct Debit says UK records were broken in 2014, reaching new highs in levels of transactions, demonstrating automated payments remain in favour with businesses and consumers alike. The total number of transactions processed by Bacs across the year reached record levels, up to just short of 6 billion – an… 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 >>

North American banks disillusioned with big data analytics

Around three-quarters of North American bankers are dissatisfied with data analytics technology, according to research from payment research firm Aite Group. Aite surveyed 141 senior banking IT executives in Asia-Pacific, Europe, the Middle East and Africa (Emea) and North America and found contrasting levels of satisfaction with technology. According to the survey, wherever significantly higher levels of dissatisfaction were found… Continue reading >>

Gemalto completes SafeNet acquisition

Digital security specialist Gemalto has announced the final closing of the acquisition of SafeNet, a provider of data and software protection, after approval by the relevant regulatory and antitrust authorities. SafeNet will be integrated with the Gemalto Payment & Identity segment and its contribution mainly consists of platforms and services activities. ​”The acquisition of SafeNet enables us to further accelerate… Continue reading >>

UK consumers embrace contactless and mobile payments

A survey from payments and loyalty specialists Logic Group has found that UK consumers are embracing new technologies such as contactless and mobile payments. According to the survey, Christmas 2015 will be the year of “tap and pay” versus “click and collect”, a trend which will be helped by the likely increase in the contactless payment limit to £30 from… Continue reading >>

Switzerland gets first contactless debit card

Pan-European payment solution provider SIX Payment Services has teamed with Hypothekarbank Lenzburg to launch the first contactless debit card in Switzerland. In partnership with SIX, Hypothekarbank Lenzburg has replaced its entire portfolio of 22,000 debit cards with new dual-interface Visa V PAY cards that enables both contactless and regular transactions. SIX is supporting the Hypothekarbank Lenzburg with a package that… Continue reading >>

2C2P, Myanmar Citizens Bank launch prepaid Citizen Card

2C2P, a Southeast Asian payment services provider, and Myanmar Citizens Bank have announced the launch of the Citizen Card, a reloadable prepaid card accepted by MasterCard merchants globally. It comes with an optional smartphone application allowing cardholders to manage transactions with real-time monitoring and online support on both iOS and Android platforms. The card is targeted at the retail, and… Continue reading >>

Polish banks and Visa to launch cloud-based mobile payments

Nine Polish banks have confirmed plans to commercially launch Visa cloud-based mobile contactless payment services from early next year, re-enforcing Poland’s reputation as a hotbed for innovation in digital payment services. Banking providers ING Bank Śląski, mBank, Bank Millennium, Raiffeisen Polbank, eurobank, Getin Bank, Bank Polskiej Spółdzielczości and Bank SMART will join Bank Zachodni WBK in rolling out services utilising… Continue reading >>

Square Cash integrates Touch ID for money transfers

mPOS player Square has announced that Square Cash, a service which enables users to make fund transfers, has incorporated the Touch ID feature in later versions of the iPhone so that users can now authenticate money transfers with their fingerprints. Square founder Jack Dorsey is an enthusiastic proponent of biometric authentication, having previously stated that Touch ID would help to… Continue reading >>

Circle adds NFC support to bitcoin app

Bitcoin specialist Circle has added support for contactless mobile payments to its Android app, enabling crypto-currency enthusiasts to make instore purchases with a wave of their phone. The move follows BitPay launching an NFC POS app for merchants, which Circle says means that thousands of high street locations around the world will support its new feature. NFC payment technology is… Continue reading >>