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Bank of England: The economics of digital currencies

Digital currencies represent both innovations in payment systems and a new form of currency. This article examines the economics of digital currencies and presents an initial assessment of the risks that they may, in time, pose to the Bank of England’s objectives for monetary and financial stability. A companion piece provides an introduction to digital currency schemes, including some historical… Continue reading >>

ECB: Digital currencies unstable

The European Central Bank has published a new report on digital currencies, describing them as “inherently unstable” whilst remaining upbeat about the potentially transformative benefits they may offer in payments. The ECB study builds off an earlier study published in 2012, offering both a general overview of digital currencies as well as follow-up analysis on the potential benefits and risk of using so-called virtual… Continue reading >>

EMV Liability Shift – 212 Days to Go

October 2015 marks a major milestone in the US payment industry’s migration to EMV as the liability shift comes into effect. After the liability shift, the party on a card transaction—the issuer, acquirer, or merchant—who does not support EMV assumes the liability for counterfeit card transactions and, in some cases, for lost and stolen card transactions. According to a survey… Continue reading >>

Bank of England considering digital currency

The Bank of England says that it is considering issuing its own digital currency in the future in the same way that it issues bank notes. A research paper from the bank, One Bank Research Agenda, said bitcoin has proved it is possible to transfer value securely without a trust. “While existing private digital currencies have economic flaws which make… Continue reading >>

Can we trust cryptocurrencies?

It is a truth universally acknowledged, that a currency system seeking successful adoption must be in want of trust. Trust that a representation of value, such as a paper note, is backed by real value or a genuine obligation to repay; trust that those representations will be accepted by others as such; and trust that the representations of value are… Continue reading >>

Online payment methods around the world

Not all countries have cards as the predominant payment method when paying for goods and services online. Payment methods can be quite diverse from country to country. Expert Market have designed a map to display the different online payment methods of 29 countries around the world. The data has been compiled by global payment company Adyen who have processed over… Continue reading >>

Visa Europe launches payment tokenisation and expands P2P payments capabilities

Visa Europe has announced its plan to launch a payment tokenisation service customized for the needs of the European market. Tokenisation technology will be at the heart of new mobile payment solutions and has been hailed as one of the best data protection and fraud prevention methods available.  The new service will be available for financial institutions from mid-April 2015…. Continue reading >>

Should mobile payments be handled in-app, or by the bank?

For the past five years, mobile payments have been trumpeted as ‘this year’s big thing’ – but finally, this year, the claim is being substantiated. For me 2014 marked a watershed, when the idea of using a mobile phone to pay for actual goods in a shop became truly mainstream. But why is now the time for mobile payments? I’d… Continue reading >>

Amazon payments business trebles

Momentum for Amazon’s payments service Login and Pay With Amazon appears to be building after a sluggish start. In January, Amazon reported strong growth in the service among mobile users last year, with more than a quarter of such payments made with a mobile device while orders processed by businesses using Login and Pay With Amazon during the holiday season… Continue reading >>

Banque Populaire selects HPS to expand pan-african payments

Banque Populaire says that will now be using the HPS’s PowerCARD solution to process electronic payment transactions of all of its subsidiaries in Africa. The partnership between Banque Populaire and HPS dates back to 2001 when the PowerCARD solution was implemented to manage all Moroccan electronic payment activities of the Group that offers today a comprehensive card payment service with… Continue reading >>