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Visa unveils global expansion plans for Checkout

Visa Inc. has announced that Visa Checkout will become available in a total of 16 markets in 2015, continuing the growth the proposition has experienced since launching in three markets in the summer of 2014. Consumers from ten countries can now sign up for Visa Checkout and start using the service. In the coming months, Visa will extend the service… Continue reading >>

Sub-Saharan African mobile money market set to soar

The sub-Saharan mobile money market is set to provide telcos and banks with as much as $1.5 billion in fees by 2019, according to research from the Boston Consulting Group (BCG). Banks and MNOs can capitalise on growth opportunities because with the exception of M-Pesa-dominated Kenya, there are no countries in the region that have seen one dominant player establish… Continue reading >>

Google retires Bebapay card in Kenya

Google is to close its Bebapay prepaid card in the Kenya market in order to shift its focus onto the payments space. Bebapay was launched in 2013 as a prepaid card for contactless transit fares, but the service will be discontinued in March 2014. Google partnered with Kenya’s Equity Bank to launch the scheme, which has over 100,000 cardholders. The… Continue reading >>

Raiffeisen Bank, Tieto enable contactless Visa cards across Bosnia and Herzegovina

European software specialist Tieto has helped Raiffeisen Bank become one of the first banks in Bosnia and Herzegovina to provide contactless payment services for Visa cards. With the Card Suite solution developed by Tieto, Raiffeisen Bank in Bosnia and Herzegovina was able to introduce contactless cards in the market with an additional option of gradual credit repayment. This extra option… Continue reading >>

Global smartphone sales set new record

Global smartphone sales set a new milestone in the fourth quarter of 2014, reaching $115 billion for the quarter, an increase of 20% year-on-year, according to data from research firm GfK. The number of units sold globally increased to almost 346 million, up 19% on the same period in 2013. In Q4 2014, all regions saw year-on-year growth in smartphones,… Continue reading >>

iZettle launches free chip and PIN reader

Swedish mPOS specialist iZettle is launching the world’s first free-of-charge chip and PIN reader for merchant customers across Europe. The new iZettle Card Reader Lite connects to tablets and smartphones via cable. iZettle has enjoyed rapid growth over the past year, with its transaction volumes more than doubling in 2014. It is currently operating at a total annual transaction rate… Continue reading >>

US EMV POS migration gathers pace

By the end of 2015, approximately 59% of US POS locations will be EMV-enabled, according to a report from payment consultancy Aite Group. Awareness of the migration to EMV among small to mid-size US retailers has increased, with two-thirds of merchants aware of the standard. However, Aite states that a significant awareness gap still needs to be addressed for the… Continue reading >>

Apple Pay 2.0 includes coupon redemption and ticketing

The new version of Apple Pay will include coupon redemption, loyalty and ticketing functionalities, according to a patent filed with the US Patent and Trademark Office. The updated Apple Pay will also feature Lower NFC Power Mode Feature, which will enable management of NFC features by using low power modes of an electronic device such as an iPhone. This feature… Continue reading >>

Hackers steal $1 billion in global cyber attack

Around $1 billion may have been stolen by hackers from 100 banks worldwide in an unprecedented cyber attack, according to a report by security specialist Kaspersky Lab. The attacks, which took place a two-year timeframe beginning in 2013, are thought to have been perpetrated by a hacker gang with links to Russia, China and Ukraine. According to Kaspersky, at least… Continue reading >>

Mobeewave gains $6.5 million investment

Canadian NFC payments entrant Mobeewave has secured a $6.5 million funding round led by SBT Venture Capital. According to the company, the investment will be used to support market expansion and the accelerated roll-out of its products. Mobeewave’s proposition enables any NFC-enabled phone to be used as a contactless mPOS terminal to receive payments from ApplePay, contactless cards or NFC wallets… Continue reading >>