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FEATURES

Cover story - Heralding the age of HCE

How will host card emulation technology drive usage of NFC and what are the implications for consumers, merchants and payment providers? Host card emulation (HCE) is the hot topic within the payments industry right now, and for good reason. For years, banks, networks and technology providers have been doing their utmost to get NFC up and running, but usage did not live up to the hype. Although contactless card usage is growing exponentially in several markets around the world, there are…

Domestic schemes - set for domination?

The launch of RuPay in India and plans for a Russian payment network indicate a resurgence in domestic schemes, but at what cost to the international players? While Europe’s banks and regulators are still mulling over the possibility of a third debit scheme in Europe to rival Visa and MasterCard, India and Russia are getting down to business, albeit for differing reasons, while China’s China UnionPay brand is already well on the way to challenging the incumbents. In May 2014, India’s RuPay…

SEPA-style in Asia-Pacific

Regulators in the Asia-Pacific region are looking at rolling out a SEPA-style single payment area, but what will be the challenges of such a project in one of the most fragmented payments markets in the world? Increased trade flow between Asia-Pacific and Europe is driving payment activities between financial institutions within these two regions. But while the SEPA project is now firmly established in Europe, the Asia-Pacific region is only just embarking on economic integration and it will be some time before a…

MOBILE PAYMENTS

Prepaid a defining force in future of m-commerce

The rapid convergence of prepaid and mobile commerce is creating significant opportunities for merchants and other stakeholder groups to push banks and other day-to-day money management service providers down the value chain further and faster than ever before. This is the view expressed by Mobey Forum in “The Prepaid Mobile Wallet:…

ZapZap and Payzone partner for smartphone mobile credit

ZapZap has partnered with Payzone to enhance their app-based mobile wallet, which will give the UK’s 5.8 million pay-as-you-go smartphone users the ability to top up their phones directly from their devices. ZapZap Mobile Wallet will utilise Payzone’s payments acceptance network to give pay-as-you-go mobile users the ability to top up…

Apple’s 5S fingerprint scanner will create new opportunities

Apple’s announcement that developers will be able to use the iPhone 5S fingerprint scanner for third-party apps is a revolutionary move for the financial services industry, according to digital banking software provider Intelligent Environments.  Speaking to PCM, head of strategy and innovation, Simon Cadbury, said: “This technology is set to trigger…

CONTACTLESS

Over half of UK consumers now aware of contactless

A wareness of contactless payments in the UK has made big strides over the last two years, according to the Contactless Payment Index results from eDigitalResearch. Over half (58%) of consumers now report to seeing a contactless payment point or symbol, an increase from just 15% in 2012. The survey of 2,000…

CaixaBank launches Visa contactless wristband

Spain’s CaixaBank has launched a contactless Visa-branded wristband, making it the largest programme in Europe to use wearable devices to make Visa payments at more than 300,000 locations across Spain. CaixaBank plans to distribute 15,000 contactless wristbands to those customers who have made the most use of their contactless cards. The…

BBVA and Visa launch first commercial solution for cloud-based m-payments…

Spain’s BBVA banking group has become the first global banking group to commercially launch mobile NFC payments based on the new cloud-based payment specifications from Visa. The new system will allow BBVA customers with NFC-enabled Android handsets to make contactless purchases by  downloading an updated version of the BBVA Wallet…

ISSUING & ACQUIRING

US embraces EMV cards

Spurred by major data breaches at Target and other stores, the US banking and retail sectors are turning to more secure EMV payment cards, causing US shipments of these cards to rise by more than a factor of fifteen:seven by 2019. US shipments of microchip-enabled payment cards that comply with the Europay, MasterCard and Visa (EMV) standard will expand to 344…

UK card spend tops £0.5 trillion for first time

Annual domestic card spending by UK consumers passed £0.5 trillion for the first ever time in 2013 as shoppers increasingly choose cards over cash, according to a report published by the UK Cards Association. Around 74.5% of all retail spending is now made using debit and credit cards, up from less than half (46.5%) in 2003, highlighting a clear shift…

Over £7 billion lost by UK SMEs in missed payment…

Only 42% of UK SMEs currently offer customers the option of paying by card, despite card spending more than doubling in the last decade, according to research from Barclaycard.  SMEs are losing out on £7.5 billion each year by not offering customers alternative payments. Despite three-quarters (74.5%) of all retail transactions across the UK now being carried out via cards, three in…

POS TERMINALS

Research reveals only 2% of UK micro-businesses use mPOS solution

New research carried out on behalf of Kalixa Group shows only 2% of micro-businesses in the UK use mPOS to accept payments. It also identifies the number one barrier to business growth as cashflow.  The research reveals that many micro-businesses identify cashflow (45%) as the number one barrier to growth. In…

Italy to distribute mPOS

Telecom Italia is to equip small business customers with mPOS chip card readers as Italy enacts new legislation requiring firms to accept debit card payments for any transaction over €30. The new laws are intended to crack down on the underground cash economy and are mandatory for all businesses and…

2014 mPOS World highlights rapid growth in mobile payments technology

This year’s mPOS World event, which took place in Frankfurt on 24-25 June and which was organised by the Empiria Group, welcomed over 240 attendees and 38 speakers from around the world. Tom Conlon, vice-president of marketing and business development for EMEA at POS terminal manufacturer VeriFone, described how the mPOS…

E-COMMERCE

iDEAL transactions rise again

The year 2013 saw strong growth in the use of the Dutch online payment system iDEAL, operator Currence has reported in its annual report for 2013. The number of transactions rose by over 21% to a total value of €10.8 billion. In total, consumers with a Dutch bank account chose…

B2B e-commerce adds value to business revenues – survey

US businesses say that B2B e-commerce raises revenues by increasing sales volumes, according to a survey commissioned by the provider of online commerce technology EPIServer for the consultancy firm Forrester Consulting. In April 2014, Forrester surveyed 100 B2B companies in the US that had implemented e-commerce within the past seven years. Three-quarters…

Telefonica, CaixaBank and Santander JV launches loyalty service

Yaap, the digital services joint venture set up by Spain’s CaixaBank, Banco Santander and Telefónica, has launched a service to help small businesses push offers to customers. Yapp Shopping is a loyalty network for small local businesses with limited online presences, allowing them to interact with hundreds of thousands of…

PRODUCTS AND CONTRACTS

OpenWay announced certified mPOS solution for Russia

OpenWay and SBC Technologies have announced certification of the first mPOS chip and PIN solution in Russia for compliance with OpenWay technical requirements for EMV support and compatibility with the WAY4 payment card issuing software solution. A mobile payment batch service for acquirers using WAY4 card processing by OpenWay has been…

RS2 signs top global processor

Award-winning, high-performance and high-availability card management solutions provider RS2 has signed a five-year licence deal with a major global processor. RS2 Software, the company behind the comprehensive, high-performance and high-availability card management solution BankWORKS, has announced a major licence and services agreement with a global payments processing company. The comprehensive licence and…

Powa acquires MPayMe in $75 million deal

UK-based digital commerce specialist Powa Technologies has acquired Hong Kong-based MPayMe in an all-share deal worth $75 million. Powa has paid 3% of its stock, which would give a value of $27 billion on the combined firm. In March this year, Powa launched its hybrid technology PowaTag proposition, which comprises a…

Payments Cards and Mobile