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FIS Clear2Pay confirmed by VISA as CVES provider

FIS says that its FIS’ Clear2Pay Open Test Solutions group has been confirmed by Visa for Chip Vendor Enabled Service (CVES) to help streamline and support the deployment of EMV enabled contact and contactless payment devices in the United States. The Visa CVES enables third-party companies to manage the execution, analysis and submission of the mandatory reporting for both EMV contact… 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 >>

Global smartphone sales of $96bn set a new Q1 record

In the first quarter of 2015, global smartphone unit demand increased +7%, compared to the same period last year. Sales reached 310m units, with growth down from +19% year-on-year in Q4 2014. This slowdown was caused by a year-on-year decline in demand for smartphones in China and Developed Asia, down -14% and -5%, respectively. Smartphone sales value in Western Europe… Continue reading >>

What do millennials want from an ATM

Millennials are the biggest population group since the baby boomers and they couldn’t be more different from that post-war generation. Most obviously, because they’ve grown up behind a screen – computer, game console, smartphone, you get the picture. For the financial services industry, the Big Question is “What are they looking for when they’re face to face with an ATM screen?” In… Continue reading >>

Fujitsu iris-recognition technology

Iris-scanning technology promises to kill the password with the launch of a new smartphone that looks into users’ eyes to unlock it. The new smartphone made by Fujitsu and sold by Japan’s largest mobile phone operator, NTT Docomo, uses an infrared LED and a special camera to snap a picture of the iris of a person’s eye. The phone recognises… 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 >>

The fall and rise of Tokenization

Apple Pay has breathed new life into tokenization and the use of tokenization has seen a revival due to new technology approaches that remove associated operational risks and complexities and enable increased scale and high performance transaction processing, especially in financial services and banking. PCM investigates how this technology made a comeback and is taking its place in the driving… 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 >>

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 >>

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 >>