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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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Facebook gets busy in payments

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Social network giant Facebook is testing a “buy” button which would enable users to purchase products featured on advertisements or page posts on the social network. Users can pay with a card that Facebook has already on file or enter new details and save them for future use. No payment details are shared with advertisers. Initially, the feature is only… Continue reading >>

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UK banks face competition probe

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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 >>

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Venture capital funding for payments on the wane

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Despite a slew of funding rounds for payment industry start-ups over the last few years, venture capital providers are backing away, according to data from CrunchBase. The research firm found that the number of venture-backed payments companies has declined from a high of 59 start-ups in the third quarter of 2013 to just 41 in the second quarter of 2014…. Continue reading >>

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ACI Worldwide acquires anti-fraud specialist ReD

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Global payment solution vendor ACI Worldwide is to acquire UK-based payment fraud prevention outfit Retail Decisions (ReD) for $205 million in cash. ReD’s suite of products includes solutions for merchants and payment service providers, issuers and acquirers, processors and switch networks. According to ACI Worldwide, the ReD acquisition is another step forward in capitalising on the growth in online and… Continue reading >>

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Could this be Apple’s biggest innovation since the iPhone?

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This spring, Apple CEO Tim Cook offered a vision of the company’s future – to anyone reading between the lines. “We have almost 800 million iTunes accounts and the majority of those have credit cards behind them,” Cook said in a quarterly conference call with analysts. “We already have people using Touch ID [Apple’s fingerprint reader] to buy things across our… Continue reading >>

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Visa Europe sees end of payment cards

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Visa Europe is predicting an end to plastic payment cards as changing consumer preferences and new technologies take hold. The network is looking at how to overhaul security standards and protect transactions in the omni-channel digital age. Peter Bailey, an executive director at Visa Europe, says in a blog post on the network’s website that with EMV now being rolled… Continue reading >>

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Mt. Gox CEO sells bitcoins.com domain

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Mt. Gox CEO Mark Karpeles is putting the domain name bitcoins.com up for sale and states that the proceeds will be used to reimburse users of the bankrupt currency exchange. The bidding for the domain name will begin at $185,000 and is expected to reach more than $750,000. “We are hoping, with the sale of Bitcoins.com, to provide some relief… Continue reading >>

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