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PSD2: A ‘bull by the horns’ approach to open access

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As the European Commission moves closer towards its ambitions of creating a single European payments market, one proposal put forward in Article 58 of the upcoming Payment Services Directive (PSD2) could have a far-reaching effect on the way payments are transacted across the 28-member bloc. The article includes a provision to regulate third party (so-called “third party payment service providers”)… Continue reading >>

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Amazon Wallet

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Amazon has quietly released a new Android and Fire Phone app, dubbed Amazon Wallet, which lets users scan cards with their phone and save them in the Amazon cloud, so they’re easily accessible when needed. Amazon’s first attempt at its own mobile wallet application, designed for use at POS, has made a quiet debut on the Amazon App store and on Google Play…. Continue reading >>

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MasterCard enable card payments in Vietnam

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MasterCard and Sacombank have announced a partnership to equip small merchants at the iconic Ben Thanh market in Vietnam with mobile Point of Sale (mPOS) terminals, enabling consumers to make card payments for the first time in its 100-year history. As a result of this partnership, the Ben Thanh market in Ho Chi Minh, which previously operated on a cash-only basis, has become… Continue reading >>

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Over £7 billion lost by UK SMEs from missed payment opportunities

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Only 42% of UK SMEs currently offer customers the option of paying by card, despite card spending more than doubling in the last decade, according to research from Barclaycard. SMEs are losing out on £7.5 billion each year by not offering customers alternative payments. Despite three-quarters (74.5%) of all retail transactions across the UK now being carried out via cards,… Continue reading >>

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mPOS player Square launches invoicing platform

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mPOS pioneer Square has unveiled an invoicing platform known as Square Invoices. Invoices are free to use for an unlimited number of invoices without a monthly fee, and for customers who pay by cash or cheque. However, a fee of 2.75% is charged for credit and debit card payments. The solution requires users to enter invoice details and a customer… Continue reading >>

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SumUp launches first proprietary Chip & PIN device in Europe

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Mobile point-of-sale (mPOS) company SumUp announced the launch of the first proprietary mobile Chip & PIN device of an mPOS provider in Europe. The device, called PIN+, is available in Poland and Switzerland as of today before being rolled out across Europe in countries including the UK, Germany, Italy and Spain in the following weeks. PIN+ will cost £79. SumUp’s… Continue reading >>

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Groupon to rollout ‘Gnome’ iPad POS system

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Groupon has unveiled Gnome, an iPad POS system with deep integration into Groupon’s infrastructure that the company hopes will spur uptake among merchants that regularly run promotions through the service. Many of Gnome’s features are designed to make it easier for merchants to administer Groupon campaigns. Those with Groupon’s app installed on their phone, for instance, will automatically be recognized as they… Continue reading >>

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mPOS market continues to grow displacing traditional POS players

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The latest Smart Insights Report establishes that mPOS, the combination of smartphone convenience with the needs of the bank card acceptance at the point of sales, will account for 52 million units shipped in 2018. At that time, the installed base of mPOS will be larger than the number of traditional POS terminals. During the study period (2013-2018), the emergence of… Continue reading >>

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Is Square for sale?

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After a number of anonymous sources wagging tongues, the clock is ticking for Square. Jack Dorsey’s payment start-up is burning through massive amounts of cash as it tries to scale its payments business. Recently the Wall Street Journal – citing unnamed people in-the-know – reported that Square lost $100 million in 2013 and is quickly eating up its $340 million supply of venture… Continue reading >>

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MPOS devices could leave millions worldwide open to attack

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Mobile Point of Sale (MPOS) devices can be easily hacked, leaving banks, retailers and millions of customers exposed to serious fraud around the world, global information security firm MWR InfoSecurity has revealed at the SyScan security conference in Singapore. Security researchers from MWR Labs, the research arm of the company, who in 2012 revealed critical vulnerabilities in Chip and Pin devices,… Continue reading >>

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