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Payments bodies to standardise ISO 20022 real-time payments

Global interoperability of real-time payments systems will require harmonisation of market practices and standards. A group of international clearing houses, banks, vendors, payments associations and other parties have proposed setting up an activity to look at how to deliver this under the aegis of the International Standards Organisation – and set an ambitious target of collating an initial variant of… Continue reading >>

MasterCard launches personal payments service

MasterCard has launched MasterCard Send, a service designed to make it seamless for businesses, governments and others to send money to consumers around the world. Live in the US, MasterCard Send is being touted as a personal payments service that gives the likes of merchants and non-profits access to a platform from which they can send money to consumers whether… Continue reading >>

Powa Technologies to revolutionise advertising

Rai Advertising, the exclusive advertising group for Rai, Italy’s largest broadcaster, has signed a strategic partnership with mobile technology leader Powa Technologies Limited to introduce its innovative PowaTag mobile commerce solution across all media channels. The PowaTag platform will be available to all Rai dealership trading partners. It will enable consumers to make instant transactions through any advertising medium with… Continue reading >>

Banks rethink business models as PSD2 comes into effect

According to the PSD2 and XS2A – regulation or opportunity report, Europe’s banks are engaged in a do-or-die effort to prepare for the 2016 introduction of new payments regulations that are expected to usher in a wave of fresh competition and innovation across the sector. The revised Payment Services Directive (PSD2) is being introduced by the European Commission to further open the markets… Continue reading >>

Bit by Bitcoin: Decrypting the crypto-currency phenomenon

Such is the fervour around virtual currencies that barely a day goes by without some form of news or announcement about the growth and threat of digital currencies but what is the reality behind the scaremongering? And how much of a threat or opportunity is the growth of these new forms of digital money? At a payment industry conference in… Continue reading >>

Over €100 million of payments initiated via MyBank

PRETA S.A.S. announced today that the growing take-up of MyBank by consumers and businesses has started to translate into a significant pick-up of the value of transactions initiated via MyBank. In late April 2015, MyBank passed the mark of €100 million in transaction value. While MyBank had been processing transactions for a total value of €1 million during the month… Continue reading >>

ACI commits to expansion of UK Faster Payments

ACI has signed a Letter of Commitment in support of the UK Faster Payments Scheme’s New Access Model, to operate as both ‘single tenant’ and ‘multi-tenanted’ aggregator. Launched in December 2014, the New Access Model is designed to broaden access to the Faster Payments Scheme, ensuring real-time payments are widely available to UK consumers and that Payments Service Providers (PSPs) are… Continue reading >>

Visa Inc offers $20 billion for Visa Europe

Visa Inc is rumoured to be in early-stage talks to buy its former European subsidiary in a deal that could be worth as much as $20bn, people familiar with the matter said on Friday. The world’s largest electronic payments company has tried buying Visa Europe before but failed to reach an agreement with the more than 3,000 banks that control it…. Continue reading >>

New European payments processor Nuapay launches

According to press reports, Irish payments group Sentenia has launched a service called Nuapay that will offer businesses a non-bank alternative for payment processing. This follows legislation introduced by the European Commission making it possible for non-banks to obtain a Payment Institution licence. Nuapay is a cloud-based service that manages direct debit and credit transfer payments for businesses. It says the… Continue reading >>

European Commission agree on Payments Services Directive

Back in 2013, the European Commission set out proposals for a Payments Services Directive 2 (PSD2) in an effort to improve cross-border payments, tackling what it says is still a fragmented market in areas such as cards, mobile and online. Following “trilogue” negotiations between the Commission, the European Parliament and the Council of Ministers, an informal deal has now been… Continue reading >>