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Card fraud credit cards using quantum physics?

Dutch researchers claim to have enabled the power of quantum mechanics in a way that could be used to make card fraud a thing of the past. In a paper posted in journal Optica, the team outline how the peculiar quantum properties of photons, that allow them to be in multiple locations at the same time, can be used to authenticate… Continue reading >>

Swift and Fiserv win $1 billion Australian payment system overhaul

Australia’s new payment system will be delayed by a year after five institutions stepped back from funding the $1 billion project. It was announced on Tuesday that the Reserve Bank of Australia-backed real time payments network will be built by bank messaging network SWIFT and payments company Fiserv But it also emerged it will be delayed by another year to late 2017. After… Continue reading >>

Data analytics accelerates disruption in banking

Access to data and the ability to effectively manage data analytics will decide which financial institutions prosper and which will be supplanted during this wave of transformation – this was one of the key conclusions taken from a recent report titled ‘Analyse This, Predict That’, which explores the financial services sector’s data analytics capabilities, and how players may use data analytics… Continue reading >>

Coinbase partners RewardsPay for iTunes bitcoin payments

RewardsPay has opened its payments platform to Coinbase enabling online shoppers to use bitcoin for purchases at iTunes and Facebook. RewardsPay’s service lets people use the cash rewards they get from credit card companies, hotels, airlines and retailers to make online purchases. Coinbase is taking advantage of the firm’s integration with major merchants to expand the pool of sites where… 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 >>

Universal tokenization platform

Carta Worldwide says it has released its tokenization service for digital payments. The solution, the company says, simplifies deployment and management of mobile payment products while delivering enhanced security and fraud protection. Developed in line with the EMVCo Tokenization framework, and payment network standards, Carta’s advanced system, which has been deployed globally for NFC mobile payments will support all transaction types including… 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 >>

MCX and Softcard state Apple Pay overthrow plan

At Money 2020, and in the wake of Apple Pay and its dominance of the headlines, US mobile money ventures, Softcard (formally ISIS) and merchant-run MCX, have been setting out their strategies for wining over customers. MCX has endured a difficult couple of weeks thanks to the controversy surrounding its policy on barring member merchants from accepting Apple Pay and… Continue reading >>

Amex pushes tokenisation as replacement for credit card numbers

American Express this week launched a tokenisation service in the US that aims to replace payment card numbers with unique tokens. “With American Express Token Service, traditional card account numbers are replaced with unique ‘tokens,’ which can then be used to complete payment transactions online, in a mobile app or in-store with a mobile Near Field Communication (NFC)-enabled device,” the… Continue reading >>