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Apple’s digital wallet patent references ‘virtualised currencies’

With tech giant Apple positioning itself to enter the mobile payment space, interest has been piqued by a recent digital wallet patent application that has just been made public. The patent application reveals the back-end architecture for a versatile mobile ‘omni-wallet’, which also references ‘virtualised currencies’. The back-end patent application outlines a digital wallet system that can handle digital debit… Continue reading >>

GoCoin brings bitcoin to 1,000 businesses

Digital currency processor GoCoin has announced a partnership with Apriva, a major payment processor, to enable bitcoin payments for more than 1,000 clients of Apriva. GoCoin is the first payment gateway solution designed from the ground up to support both bitcoin and emerging altcoins at checkout. According to GoCoin, merchant acceptance is vital for the long-term growth of bitcoin and… Continue reading >>

Ingenico and First Data launch mPOS in India

Ingenico Roam, part of Ingenico Mobile Solutions, has partnered with global payment processor First Data to launch an mPOS solution into the Indian market. Leveraging ROAM’s mobile solution and Ingenico’s global EMV expertise, First Data India has launched its own fully-branded chip and PIN mPOS solution. This new mPOS offering enables merchants in India to accept payments, incorporating ROAM’s RP750x… Continue reading >>

CaixaBank to invest €500m in next-generation ATMs

Spain’s CaixaBank has signed an agreement with ATM manufacturer Fujitsu to manufacture 8,500 new terminals featuring cutting-edge technology and to innovate jointly on a global scale. The new ATMs are fitted with contactless readers capable of scanning cards, mobile phones and wearables, and all offer banknote recognition technology, among other improvements. CaixaBank boasts Spain’s largest ATM network and the third-largest… Continue reading >>

BPC SmartVista selected for Ethiopian national payment system

BPC Banking Technologies, a global provider of open system payment solutions, has been selected by Ethiopia’s EthSwitch to power its national switching operations in Ethiopia. BPC’s SmartVista solution was selected because of its functionality, technology and track record in helping payment businesses worldwide capitalise on opportunities presented by the changing payments landscape. EthSwitch was formed by all the banks in… Continue reading >>

ECB identifies payment systems for oversight

The European Central Bank (ECB) has named four key payment systems – Target2, Euro1, Step2-T and Core(Fr) – as “systemically important”, and as a result they will be subject to new regulations covering large-value and retail payment systems in the euro area operated by both central banks and private entities. The ECB says the aim is to promote the “smooth… Continue reading >>

Russia forges closer ties with China UnionPay

Russia’s MDM Bank has partnered with Chinese payment network China UnionPay (CUP) to issue CUP-branded cards. Other Russian banks, including Alfa Bank, Gazprombank and Bank of Moscow are also preparing to start implementing and issuing CUP card capability, according to Russian press reports. MDM Bank has also stated that CUP cardholders will be able withdraw cash at MDM Bank’s ATMs… Continue reading >>

UK banks launch bounced fee system

UK banks are launching a ‘retry’ system that will give customers a second chance to avoid bounced payments and their associated fees. From 1 September, when a customer’s standing order, direct debit or future-dated payment bounces because of insufficient funds in the account, the payment will be processed again by their bank or building society later the same day. This… Continue reading >>

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

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 >>

Daily mobile transactions rise to $71m in Kenya

Kenyans are transacting Sh6.2 billion ($70.49m) daily through mobile phones, Central Bank of Kenya has said. This is a rise from an average of Sh5.2 billion last year, underlining growing confidence in mobile money and cashless transactions. “The growth has been phenomenal.  It has become an important platform for financial services,” said CBK governor Njuguna Ndung’u in a recent presentation… Continue reading >>