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Can SEPA-style work in Asia-Pacific?

Regulators in the Asia-pacific region are looking at rolling out a SEPA-style single payment area, but what will be the challenges of such a project in one of the most fragmented payments markets in the world? Increased trade flow between Asia-Pacific and Europe is driving payment activities between financial institutions within these two regions. But while the SEPA project is… Continue reading >>

Global Payments 2014 – revenues show upward trend

The global payments and transaction-banking businesses continue to represent vital elements of the banking industry and the global financial-services landscape. The importance of these businesses both as critical sources of stable revenues and as the foundation of customer relationships and loyalty has grown steadily in recent years and shows no signs of slowing down. The growth in payments and transaction… Continue reading >>

Domestic schemes – set for domination?

The launch of RuPay in India and plans for a Russian payment network indicate a resurgence in domestic schemes, but at what cost to the international players? While Europe’s banks and regulators are still mulling over the possibility of a third debit scheme in Europe to rival Visa and MasterCard, India and Russia are getting down to business, albeit for… Continue reading >>

Mobile operators scrap Weve

As history repeats its self, Weve, owned by EE, O2 and Vodafone, has ditched plans for a joint mobile wallet, based on NFC, which was meant to help the operators enter the £14.2 billion payment market. In June 2005, Simpay, a different joint venture between the big telcos also relating to payment services collapsed after T-Mobile could not agree to… Continue reading >>

World Retail Banking Report 2014

For the first time in three years, global Customer Experience has declined reflecting an inflection point in customer expectations finds the World Retail Banking Report 2014. Future customers, mainly Gen Y or millennial, value technology, have high digital expectations, and are the largest users of social media, requiring banks to digitally transform to meet this segment’s expectations. Key findings: Featuring… Continue reading >>

Bank of England selects plastic bank note supplier

The Bank of England has named De La Rue as the preferred bidder for the 10-year printing contract of its new plastic bank notes. De La Rue has been printing notes for the central bank since the job was first outsourced in 2003. Although a contract has not been signed, the firm is expected to get confirmation in October and begin… Continue reading >>

Barclaycard to acquire payment and loyalty specialist The Logic Group

The Logic Group has announced that it is to be acquired by Barclaycard. This includes The Logic Group’s UK and Spanish businesses, laying the foundations for a global omni-channel, managed payments service and customer loyalty group that will build on the company’s heritage as one of the most highly regarded businesses in its field. As a result of the acquisition,… Continue reading >>

Apple agrees interchange fee rebates for m-payments

Ahead of the launch of the iPhone 6 next week, tech giant Apple has reportedly negotiated deals with several US issuers to give Apple back a portion of card-present interchange fees, around 15 to 25 basis points, on each transaction. The issuers have also agreed to extend card-present rates to Apple for all transactions involving their cards with Apple’s new… Continue reading >>

Barclays launches biometric reader for corporate clients

Barclays corporate customers will be able to log into their online accounts by scanning their fingers with biometric readers using vein authentication technology from Hitachi. From 2015, corporate customers will be able to access their accounts and authorise payments with the reader, eliminating the need for , PINs, passwords and authentication codes. According to Hitachi, vein patterns offer a stronger… Continue reading >>

US Federal Reserve moves towards faster payments

Federal Reserve banks in the US are moving ahead with plans to implement a faster payments system in order to improve the country’s payment infrastructure. The Federal Reserve banks are planning to publish a roadmap in the coming months, having released a consultation paper in September 2013 soliciting comments on gaps and opportunities in the payment system. By the close… Continue reading >>