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Charge Anywhere admits security breach

It has been revealed that for the last five years, hackers have been using a banking malware to siphon unencrypted credit/debit card information from the computer networks of Charge Anywhere, an electronic payment service used by millions of merchants worldwide. Charge Anywhere, an electronic payment service provider to merchant publicly admitted to a security breach that may have compromise the account… Continue reading >>

Global banks investment in payment technology as top priority

It has been revealed that payment technology is set to be a key area of focus for banks across the globe in 2015 – according to the Ovum ICT Enterprise Insights* program, based on interviews with 6,500 senior IT executives. The shift in payment technology modernisation, brought on by diversification and mobile channels in particular, is a truly global phenomenon. In most instances, less… Continue reading >>

Bitcoin ATMs paying off initial investments in months

An industry that was non existent a mere 12 months ago is flourishing and profitable, according to Bitcoin ATM pioneers, Lamassu. Internal Lamassu surveys show that standard cash-to-Bitcoin ATM locations are averaging $20,000 worth of transactions per month, whereas prime locations are averaging $40,000 – $60,000 per month. With an average commission of 5.5%, operators are looking at $1,000-$3,000 in… Continue reading >>

Asia-Pacific overtakes North America to become the largest EFTPOS region

New research from London-based strategic research and consulting firm RBR shows that there were 61 million EFTPOS terminals installed at 40 million merchant outlets around the world, at the end of 2013. This represents a 12% increase on 2012. Asia-Pacific’s installed base expanded by 30%, overtaking North America to become the largest region for EFTPOS terminals in 2013. The rapid growth in… Continue reading >>

Square begins EMV chip-card reader launch

Mobile payments platform provider Square has made an EMV chip-card reader available to its customers. But rather than offering the reader for free, Square is charging customers $29 as part of a pre-sale, and it won’t ship until early 2015. Short for Europay, MasterCard, and Visa, EMV is the payments standard at the center of the upcoming migration planned for… Continue reading >>

SumUp integrates Bitcoin payments through BitPay

SumUp has announced that it has integrated Bitcoin into its mPOS solution through BitPay, the world’s largest Bitcoin payment processor. The integration means that any bricks and mortar retailer can now easily accept Bitcoin payments. With SumUp’s streamlined checkout process, the customer simply confirms the amount with a single click on their smartphone after scanning a QR code or using NFC… Continue reading >>

First Data unveils Clover Mobile

First Data has unveiled Clover Mobile, a new mPOS business solution that brings new flexibility and versatility to the Clover family. Clover Mobile enables more personal consumer engagement for innovative small- to mid-sized businesses by taking the functionality of the popular Clover Station off the counter and on to the floor. Armed with Clover Mobile, merchants can place orders, take… Continue reading >>

EMV chip transaction figures published by EMVCo

Official figures released by the global technical body EMVCo show that nearly 30% of all card-present transactions conducted globally between July 2013 and June 2014 used EMV chip technology. The data represents all EMV chip card-present transactions – both contact and contactless – as processed by EMVCo’s members, American Express, Discover, JCB, MasterCard, UnionPay and Visa. To qualify as an… Continue reading >>

Apple’s payments move a tipping point – Verifone

Apple’s move into payments with its Apple Pay service represents a tipping point for contactless payments, according to Verifone Europe president June Yee Felix, speaking at the Cartes 2014 event in Paris. The benefits of the tech giant adopting NFC are considerable, she said. “Apple Pay is something wonderful for our industry,” she told several hundred delegates attending the opening… Continue reading >>