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Ingenico joins Worldpay bid melee

Ingenico has submitted a bid to buy Worldpay, two sources familiar with the matter say, as the contest heats up to take control of Europe’s leading payments processor. Worldpay, owned by private equity firms Advent and Bain, is heading for a London flotation in the autumn that could value it at around £6 billion ($9.2 billion). But the company has… Continue reading >>

Target breach: MasterCard eyes fresh settlement

Target’s recent settlement with Visa to reimburse card issuers up to a reported $67 million for expenses related to the retailer’s 2013 data breach may pave the way for a similar revised settlement with MasterCard. And it could eventually derail banks’ pending lawsuit against retail giant. In May, banks and credit unions rejected MasterCard’s proposed $19 million settlement with Target on… Continue reading >>

The Omni-channel challenge in Retail payments

More and more merchants in Europe feel the need to offer their services via multiple channels (i.e. physical stores, online, mobile etc.), embracing the so-called omni-channel retail approach. “In terms of payments, an omni-channel approach for merchants means accepting a wide variety of (offline and online) payment methods,” explains Evelien Witlox, General Manager Product Management & Innovation at Equens. “As –… Continue reading >>

US retailers to begin public tests of CurrentC

MCX, three years after deciding to enter the mobile payment market with CurrentC, a group of large retailers is finally doing it. Merchant Customer Exchange (MCX), a partnership between large retailers and restaurant companies including Wal-Mart Stores, Target and Darden Restaurants will begin its first public tests of its mobile-payment application at several member retailers and restaurants in Columbus, Ohio, in the… Continue reading >>

Samsung Pay teams with card schemes and banks for launch

Tech giant Samsung will launch its mobile payments service Samsung Pay in South Korea later this month, with Visa, MasterCard and major banks lining up for a US launch in September. Samsung Pay will launch in South Korea on 20 August and the US on 28 September. It will launch in the UK, Spain and China at a later date…. Continue reading >>

PayPal Here enables SMEs to take contactless payments

PayPal is now selling NFC-enabled card readers on its website aimed at small businesses, enabling them to accept contactless payments. The PayPal Here card reader costs £79.95 and is followed by a 2.75% transaction fee. It will accept Visa, MasterCard, Maestro cards as well as Apple Pay. The PayPal Here app and card reader will continue to process chip and… Continue reading >>

EVO and Raiffeisenbank form card acceptance alliance

Global acquirer and payment service provider EVO Payments International has formed a strategic alliance with pan-European banking group Raiffeisenbank for card acceptance in the Czech Republic. As a result of the partnership, all acquiring related services and responsibilities will transfer to a newly-founded Czech subsidiary of EVO, called REVO. The transaction, subject to regulatory approvals, is expected to close at… Continue reading >>

Coinify acquires digital currency rival Coinzone

Danish digital currency processor Coinify has acquired Dutch rival processor Coinzone in order to create a pan-European provider of payment processing for online merchants and payment service providers. The deal will extend Coinify’s merchant customer base to 10,000 online clients and will strengthen the firm’s plans to raise capital in a Series A round of funding. Coinify has embarked on… Continue reading >>

CBA error double-charges transactions

Commonwealth Bank of Australia (CBA) has apologised to its customers following a system error that saw customers being double-charged for debit, credit and mobile payments over a six-day period. The revelation comes just one day after the CBA posted a record A$9.14 billion of profits and announced a The foul-up comes as the bank reported A$1.2 billion investment on initiatives… Continue reading >>

BlackBerry and PayPal team up for P2P payments

BlackBerry has teamed up with e-commerce giant PayPal for a trial that lets BBM users in Canada send and receive money through its messaging service. Upon connecting their PayPal account, BBM users can send money to friends and family within a chat by selecting a PayPal icon and entering the amount. The external beta trial is available for some BlackBerry,… Continue reading >>