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UK spend limit on contactless cards lifted

UK consumers will now be able to spend up to £30 using contactless cards after the limit was increased. The limit per transaction for contactless cards, which do not require a PIN or a signature to authorise payment, was previously £20. The move follows a huge rise in the number of people using contactless cards in the UK. Transactions for the… Continue reading >>

Retailers extremely focused on payment innovation

Payment innovation in the retail industry is rapidly changing, driven by consumer adoption of mobile smart devices.  Because of recent well-publicized data breaches and payment card fraud, retailers have turned their attention to the dual challenges of data security and fraud prevention, even as they try to keep up with the demands of digitally enabled consumers. Retail Systems Research (RSR) recently released… Continue reading >>

FIME revolutionises payment terminal kernel design

In a move which will assist EMV payment terminal, mobile point of sale (mPOS) and kernel developers to bring their products to market more efficiently, quickly and cost effectively, FIME has launched its EVAL 4dev cloud-based service. According to FIME, this is a breakthrough in the testing world, enabling users to validate EMV Level 2 payment terminal kernels throughout the development… 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 >>

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 >>

Japan’s payment paradox

A new report from payment consultancy Aite Group states that despite Japan being viewed as one of the most advanced payments nations in the world, it remains a cash-intensive society. Japan has had mobile payments since 2004, with thousands of contactless POS terminals deployed in its transit systems, and terminals gracing nearly 50,000 retail locations across the country. Based on… Continue reading >>

Global mPOS installed base to quadruple to 54 million units

Mobile point of sale (mPOS) growth continues as the technology deepens its reach across vertical industries, merchant tiers and geographies. 451 Research projects the global mPOS installed base will grow from 13.3 million units today to 54.03 million units in 2019. Diverse factors including enterprise deployments, expansion into new vertical industries and financial inclusion in developing economies will serve to… Continue reading >>

Instant payments at POS – overcoming customer and merchant barriers

Over the past several years, instant payments have become an increasingly important part of the payments landscape. The Euro Retail Payments Board (ERPB), European Central Bank (ECB), European Payments Council (EPC) and several national organisations have recently made announcements addressing the implications and regulation of this new payment option, as well as the impact of its rise on the operations… Continue reading >>

Wearables for retail payments?

Wearable technology is set to become an everyday part of retail on the shelves, on the shop floor, in the stock room and in the back office. In just a handful of years, wearable technology has moved right into the mainstream. Who would have thought five years ago that pensioners, for instance, would be casually walking around with fitness monitoring… Continue reading >>

UK businesses losing out if they do not have contactless

As usage of contactless cards has trebled, just under half of consumers (47%) expect, or would prefer, businesses to offer contactless payment for low-value transactions, according to new research from Lloyds Bank Cardnet. Despite its relative recent introduction, over a tenth (12%) of consumers state that they do not think enough retailers offer contactless and just under a tenth (9%)… Continue reading >>