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MasterCard and Zwipe announce world’s first biometric contactless payment card

MasterCard and Zwipe announced their partnership for the launch of the world’s first biometric contactless payment card featuring an integrated fingerprint sensor. The launch of the card comes after a successful live pilot with Norway’s Sparebanken DIN, aligned to the Eika Group, as an answer to the complex challenge of providing a fast, convenient payment solution that does not compromise on… Continue reading >>

Alibaba make new financial services push

Chinese e-commerce firm Alibaba Group said on Thursday it has folded six different businesses into a single business unit and changed the name of its Alipay financial services affiliate to Ant Financial Services Group as it steps up its push into the financial services industry. Alibaba has been aggressively offering new financial services around Alipay, including a money market fund for consumers,… Continue reading >>

SIA launches mobile money service

Italian payment processor SIA has launched a SEPA-compliant smartphone-based mobile money transfer service, enabling users to send and receive money in real time to and from their phone contacts. The ‘Jiffy’ app, which utilises SEPA credit transfers, is available on Android, iOS and Windows Phone operating systems. The Jiffy app links users’ current accounts, the IBAN code of the account… Continue reading >>

Kotak Mahindra offers Facebook mobile money transfers

Indian bank Kotak Mahindra (KMB) has unveiled a mobile money transfer service enabling Facebook users to make funds transfers to each other. The KayPay application utilises India’s Immediate Payment Service for mobile phone payments, enabling users to register their account details and conduct transfers using their Facebook log-in credentials and a one-time password from KMB. Users also receive instant notifications… Continue reading >>

Japanese social media network Line moves into payments

Japanese social media messaging network Line has entered the payments market with a service for both online and in-store transactions. Line, which has 560 million registered users worldwide, will enable Japanese customers to link the Line mobile app to their bank accounts and credit cards. Users will then be able top up their Line account and make purchases online and… Continue reading >>

New UK regulator will supervise Visa and MasterCard

The UK government is planning to put supervision of MasterCard and Visa alongside the UK’s main interbank payment systems under the remit of the new Payment Systems Regulator (PSR), which has been tasked with promoting competition within the payments industry. Major payment networks such as Visa and MasterCard, interbank systems such as Bacs, CHAPS, Faster Payments, Link and the cheque… Continue reading >>

200 billion card payments worldwide in 2013

A total of 205 billion card payments were made worldwide in 2013, a rise of 13% on 2012, according “Global Payment Cards Data and Forecasts 2013-2019”, a new report from RBR. This growth was slightly higher than the 11% increase in card numbers to 10.8 billion, which reflects an expanding global physical and virtual merchant acceptance network, as well as… Continue reading >>

UK card transactions top 1 billion a month for the first time

The number of UK card transactions, made by either debit and credit, in a single month passed 1 billion for the first time in August, according to the latest figures from The UK Cards Association. 375 transactions are now made every second in the UK, with debit cards leading the rise. Consumers made 1.006 billion transactions using their debit and credit cards in the UK in August, up by 9.2% on the same month in 2013. The… Continue reading >>

Mobile payments, Smartphones, Smartwatches and wearable tech as new ways to pay

PayPal Canada has released the findings of a national study that shows Canadians are keen to embrace future-forward mobile payments options like wearable devices and smartwatches. The study provides insight on how purchasing habits are shifting to include the use of digital and mobile payments, with close to a third of Canadians (29%) having used their mobile phone to make… Continue reading >>

Equity Bank challenges M-Pesa with Thin SIM technology

Kenya’s Equity bank is aiming to challenge mobile money transfer giant M-Pesa with the release of an ultra-thin smart SIM enabling users to access the bank’s mobile money service without needing to use dual-SIM phones. The duoSIM technology from Kenyan company Taisys is applied as an overlay to a customer’s original SIM card to enable mobile financial services irrespective of… Continue reading >>