For Pakistan to harness the full potential of digital commerce, strong collaboration is required among mobile operators, financial and payments companies and governmental agencies. By 2020, 3G coverage is expected to reach 90% of the country’s population.
The retail industry suffers from pervasive web application weaknesses from legacy software systems which are soft targets for attackers once inside a company’s network. Also, the most sophisticated point-of-sale malware ever seen to date is now lurking in retailers systems waiting to launch.
U.S. cards-in-force (CIF) for Visa and MasterCard credit cards increased 5.4% year-on-year (YOY) while CIF for debit cards rose 7.3% YOY, in the third quarter, according to CardData. Visa is leading U.S. credit card CIF in YOY growth, while MasterCard leads U.S. debit cards CIF YOY gains in 3Q/15.
CardFlash News Briefs: GPN (talech); MYPINPAD (VocaLink); AZIMO (Nigeria); and UNIONPAY (Hong Kong).
Wincor Nixdorf and Diebold have entered into a business combination agreement in a deal valued at $1.8 billion, or €1.7 billion.
The transaction is expected to yield approximately $160 million of annual cost synergies.
India’s Navi Mumbai Municipal Corporation (NMMC), held a Smart Banking Connect conference for seeking avenues for smart banking for the citizens. An idea of a smart mobile application and a smart NMMC card for payment of water, electricity, property bills etc from one point was discussed.
Among consumers that are currently in the market for a new credit card, 54% cite zero percent introductory rates as a feature that would prompt them to apply for a new credit card. Annual cash back rewards programs are cited by 50% of consumers, while 42% cite ID theft protection as a key motivator.
SC-based Uphold is now enabling U.S. members to fund their Uphold accounts by linking their bank accounts, debit or credit cards, in addition to bitcoin.
Samsung Pay had added eight more credit and debit card issuers and now supports eligible Chase Visa credit, debit and Liquid cards.
MasterCard launched the first session of the Private Sector Frontiers Round Table Series. The series, which will consist of 11 sessions in total, aims to strengthen the role of the private sector in terms of humanitarian assistance as well as build sustainable partnerships with the sector across the UAE.
As the European Banking Authority (EBA) develops its Regulatory Technical Standards, and as the EU Member States consider the detail of PSD2, any regulation governing online payments should enable and encourage the e-commerce sector to balance the twin considerations of risk and convenience (otherwise growth would be stifled and costs would increase).
U.S. Purchase Dollar Volume (PDV) among the four U.S. bank card networks rose 8.1% year-on-year (YOY) and 0.8% sequentially in the third quarter. Visa, with a 57% marketshare, led the way with a YOY gain of 9.7%.