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FEATURES

Cover story - Mobile money momentum

As mobile money transfer services like Pingit and Paym gain traction, how will mobile remittances help drive mobile commerce? by Victoria Conroy With all the focus on mobile payments and wallets, and the success of mobile-based money transfer services like Barclays Pingit and Paym in the UK, the spotlight is being shone on the potential of these account-to-account transfer services to bring about greater financial inclusion and reduce cash usage. Since its launch in 2012, Pingit has had over three million downloads and…

The state of SEPA

How is SEPA faring now that migration deadlines have passed, and could banks be doing more? by Victoria Conroy Finally, after a 15-year wait, and a delayed 1 August migration deadline, the Single Euro Payments Area (SEPA) has achieved full implementation of SEPA-compliant credit transfers and direct debits in the euro area. The milestone means that over 500 million consumers and 20 million businesses can use a single bank account for all euro-denominated credit transfers and direct debits in Europe. Countries outside the…

Making the most of merchant loyalty

Creating merchant loyalty – location–based offers, discounts and targeted messaging are helping to place merchants at the centre of consumer engagement. by Victoria Conroy According to research by IDC, 1.5 billion smartphones will be in use globally by 2017, while research firm Gartner predicts that worldwide mobile payment transaction values would reach $235.4 billion in 2013, a 44% increase from 2012’s $163.1 billion. The pressure is now on for merchants and mobile wallet providers to create effective solutions that encourage consumers to leave…

MOBILE PAYMENTS

Mobile commerce worth $516 billion by 2017

Mobile commerce will drive an estimated $516 billion in sales over the next three years, accounting for more than 70% of all mobile internet revenue. That is the prediction of a new report from research firm Digi-Capital, which says that all mobile internet revenue will top $700 billion annually by 2017. The…

ANZ goMoney app reaches A$100bn in transactions

Australia’s ANZ Bank says that its goMoney mobile-to-mobile payments app has reached A$100 billion in transactions since its launch in late 2010. GoMoney enables users to send funds to anyone with an Australian bank account by entering the recipient’s mobile phone number. Customers can also pay bills, move money between…

Amex struggles with mobile payments

A top executive at American Express has acknowledged that the firm’s efforts to engage consumers with mobile payments have so far been a failure – however, as PCM notes, they are certainly not the only big player who has struggled. Speaking at an industry conference in New York, Josh Silverman, Amex’s…

CONTACTLESS

Apple iPhone with NFC is here – but is it…

Apple has finally embraced NFC with its inclusion in the iPhone 6 handset. While the rest of the payments industry is wondering what took Apple so long, the move will undoubtedly spur greater usage of NFC mobile payments worldwide, which can only be a good thing. The company’s new Apple Pay…

Vodafone launches NFC mobile payments with Visa in UK

Vodafone, in partnership with Visa, is developing a new mobile payments system that will allow users to complete contactless payment via NFC-enabled SIM cards. Vodafone and Visa have previously partnered on similar services in Italy, Spain, the Netherlands and Germany. Vodafone is planning a consumer launch of the service in early…

Barclaycard and Orange shut down Quick Tap NFC service

Barclaycard and mobile network operator Orange are to close their Quick Tap NFC mobile payment service at the end of October. Quick Tap was launched in 2011 and was one of the first NFC mobile payment services in the UK. According to Barclaycard, the company will now focus on developing other…

ISSUING & ACQUIRING

China Everbright Bank selects Datacard for instant issuance

Global instant issuance specialist Datacard Group has announced that China Everbright Bank, a financial services provider headquartered in Beijing with 807 branches, is implementing Datacard financial instant issuance solutions for in-branch issuance of permanent credit cards.    The overall solution includes Datacard Group’s flagship Datacard CardWizard instant issuance software and Datacard CE870TM instant issuance systems with embossing and indenting, graphics printing,…

WAY4 Switch chosen for regional interbank switch in Indonesia

The Association of Regional Development Banks in Indonesia (ASBANDA), and OpenWay, a provider of software solutions for issuing and acquiring, payment processing and switching, are starting the switching project which will connect 26 regional development banks of 34 Indonesian provinces. ASBANDA in partnership with OpenWay will implement a BPDNet Online switch solution that consolidates ASBANDA member banks on a single processing…

Russia forges closer ties with UnionPay

Russia’s MDM Bank has partnered with Chinese payment network UnionPay (UP) to issue UP-branded cards. Other Russian banks, including Alfa Bank, Gazprombank and Bank of Moscow are also preparing to start implementing and issuing UP 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 once technical…

RISK & COMPLIANCE

Retail malware: PCI-DSS is part of the problem

When the Payments Card Industry Data Security Programme (PCI-DSS) was first introduced in 2004, the move was in response to a series of breaches that demonstrated how exposed credit and debit card information could be at retailers, large and small, that hadn’t properly considered cyber security. The standard, which has been widely criticised as a prescriptive and expensive tick-box exercise, sought…

POS TERMINALS

Amazon enters mPOS fray

E-commerce giant Amazon has made its widely anticipated move into the burgeoning mPOS market by launching a dongle and app-based solution with a pricing strategy that undercuts rivals Square and PayPal. Amazon enters mPOS fray Amazon Local Register consists of an app and a $10 card swipe reader that plugs into…

MasterCard forces merchant POS contactless upgrade

MasterCard has laid out a six-year timescale for all European merchants to replace their existing POS terminals with contactless-enabled terminals by 2020.  MasterCard is planning a two-phase shift to contactless as a standard by insisting that all new POS terminals must be capable of accepting contactless cards upon deployment from 1…

E-COMMERCE

Digital River expands Brazil payments for online merchants

Digital River, a global provider of commerce-as-a-service solutions, has expanded its Brazilian payments offerings through a partnership with EBANX, a cross-border payments processor in Brazil and Latin America.  Since 2007, Digital River has been facilitating payments in Brazil as a reseller and payments gateway. The joint Digital River and EBANX offering…

Ingenico and Yapital ease handling of cross-channel payments

Ingenico Payment Services has formed an agreement with Yapital, part of the Otto Group, a globally operating retail and services group. This agreement consists of integrating the Yapital solution into Ingenico Payment Services e-commerce platform as well as into the in-store processing platform.  Yapital is a cross-channel payment solution, allowing secure…

Visa begins tokenisation roll-out

Visa has initiated the roll-out of its tokenisation service to US clients. Visa Token Service replaces sensitive payment account information found on plastic cards with a digital account number or token. Because tokens do not carry a consumer’s payment account details, such as the 16-digit account number, they can be…

PRODUCTS AND CONTRACTS

Oberthur acquires NagraID

Digital security specialist Oberthur Technologies has signed an agreement to acquire display card manufacturer NagraID Security. Oberthur will acquire a 100% equity stake of NagraID Security from the Kudelski Group and the company’s management. NagraID Security develops and markets powered display cards to secure access to the cloud, primarily for companies…

Barclaycard to acquire Logic Group

Barclaycard is to acquire The Logic Group’s UK and Spanish businesses in order to build a global omni-channel, managed payments service and customer loyalty group. The Logic Group is a European payment and loyalty specialist business.  As a result of the acquisition, Barclaycard’s global payments business will be able to provide…

Miura Systems launches M010 chip and PIN reader

Miura Systems, a UK-based manufacturer of secure electronic payment hardware to mPOS payment providers, has launched the M010 chip and PIN card reader. The device incorporates wifi and Bluetooth connectivity allowing it to work with a smartphone, tablet and other wifi-enabled devices. Miura Systems’s latest device is compatible with a range…

Payments Cards and Mobile