BlackBerry Limited today announced a new three-year agreement with EnStream LP, a mobile payments joint venture owned by Canadian wireless carriers Bell, Rogers and TELUS, to provide a secure platform that supports transaction services between leading banks and consumers. EnStream will leverage BlackBerry’s proven and reliable infrastructure to enable financial institutions, including Royal Bank of Canada, TD Bank Group, CIBC and Desjardins, and mobile operators to securely provision sensitive payment card credentials into any smartphone capable of near field communication.
Vietnam Export Import Commercial Joint Stock Bank (Eximbank) and JCB International Co., Ltd. (JCBI) have launched Eximbank – JCB Credit Card in order to diversify the products to meet various demands of customers. With today’s launch event of Eximbank and JCBI, Eximbank will join the member of issuing international card bearing JCB brand in Vietnam. Cardmembers are also entitled to enjoy many privileges upon card issuance, such as: Waiver of first-year annual fee for primary card and supplementary card, receive 300,000VND cashback for the cardmembers who spend over 1,000,000 VND and travel to Japan for a cardmember who spends the most from today to 11/03/2014.
Mobey Forum released its whitepaper, ‘The MPOS Strategy: Shifting the Balance of Power’, which examines the changing market dynamics brought about by disruptive MPOS providers and offers a strategic evaluation framework designed to help banks maintain their position and take advantage of the rapidly evolving MPOS market. The paper examines how MPOS disrupts the established four-party model (cardholder, merchant, acquirer, issuer) and identifies the potential winners and losers in the marketplace. Pushing beyond the traditional MPOS ‘dongle plus smartphone’ concept, the paper addresses issues surrounding interchange models, payment service provider models, networked commerce and the merchant-customer relationship. The paper then investigates how banks and financial institutions are currently reacting to the influx and utilisation of MPOS solutions, before proposing a structure through which banks and other stakeholders can weigh their strategic options, protect their interests and move to take advantage of the wave of change occurring in this complex environment.
MasterCard Worldwide announced record growth of its contactless payments technology, MasterCard® PayPass™, across the Asia/Pacific, Middle East and Africa (APMEA) region in 2012, citing a 28% (YoY) increase in merchant locations. MasterCard’s PayPass contactless payment network now boasts nearly 700,000 merchant locations in 51 countries as of Q4 2012. Growth data reflects a strong demand from consumers for fast and convenient alternative to cash for everyday purchases in region, including those in emerging markets like Vietnam, which last month launched contactless payments for the first time. In Australia, more than one-in-ten card transactions under $100 is now being made with PayPass. In Singapore, transactions made using PayPass at last year’s Great Singapore Sale (GSS) grew 100-fold, with total spend up by more than 54%. In New Zealand, all new consumer credit and debit cards issued are enabled with PayPass. Consumer-led demand for contactless technology drove uptake among the country’s most popular retailers, including Bunnings, Kmart, The Warehouse, Resene, Repco, and BP.
Vietnam Eximbank, a division of Vietnam Export Import Commercial Joint Stock Bank acquiring bank started to recruit JCB credit card merchants across Vietnam. Vietnam Eximbank will phase in enabling JCB cardmembers to use their JCB credit cards for purchases at Eximbank merchants. The bank targets to complete enabling JCB cards to be accepted at all their existing merchants by 2011. JCB entered into this arrangement with the aim of enhancing convenience for 64.21 million JCB cardmembers largely based in Asia, including Japan, China, Taiwan, and Korea, who travel to Vietnam. Vietnam Eximbank aims to strengthen services for their merchants by accepting JCB, the international credit card brand, giving more payment options for customers and generating more sales opportunities with a growing JCB cardmember base in Asia.