The frequency of credit card usage in the UK increased at a CAGR of 9.4% during 2012-2014 and the frequency of transaction is expected to reach up to 61 times by 2020. According to the P&S Market Research “UK Cards and Payments Market – Size, Share, Development, Growth and Forecast to 2020” report, the total…
The increased use of electronic payment products, including credit, debit and prepaid cards, added US$296B to GDP, while raising household consumption of goods and services by an average of 0.18% per year. The 2016 study conducted by Moody’s Analytics for found the equivalent to 2.6 million new jobs were created on average, annually, over the…
Vancouver-based Bit-X Financial’s Digital Asset Exchange, DIGATRADE, has enabled instant Bitcoin buying with US Dollars (USD), British Pounds (GBP), Euros (EUR) and Canadian Dollars (CAD).
Toronto-based BitGold, pioneer of gold-based digital payments, gobbles up Jersey, British Channel Islands-based GoldMoney. GoldMoney has CAD 1.5 billion in assets under vault management.
The biggest Croatian bank, Zagrebačka Banka, has inked a deal with UK-based Paysera, an e-money institution licensed in Europe. The partnership will drive the costs of international money transfers to Croatia
to 1 HRK (0.13 EUR).
Consumer debt in the UK hit a seven-year high during the fourth quarter topping £1.25 billion. Borrowing on credit cards, loans and overdrafts by Brits is now growing at an annual rate of 6.9%.
HyperWallet has recently launched low-cost payment services to Nigeria, enabling companies to pay individuals in-country via direct-to-bank money transfers and reloadable prepaid debit cards. With hyperWALLET, corporates can make fully-compliant electronic payments to Nigerian bank accounts in NGN currency, typically within 1-2 business days. Additionally, corporates can pay Nigerians instantly using reloadable prepaid debit cards in USD, EUR or GBP currencies. With the addition of payments to Nigeria, hyperWALLET continues to expand their global financial network and support the diverse payment needs of corporate customers and their payees worldwide. The global payment platform lets users send mass manage their funds with their e-wallets, bank deposit, prepaid cards, cash pickup and via mobile phone.
Gresham real-time financial transaction control software to the global matching and reconciliation market, reports 1H/14 revenues up 67% to GBP 2.0m and profit before tax of GBP 0.6m (H1 13: £0.7m). Since May 2014, four new customers have signed for CTC. A major bank purchased CTC for real-time intersystems matching and reconciliation, expanding the use…
MasterCard’s new prepaid travel card takes aim at young UK travelers. The Chip and PIN card can handle seven currencies and is supported fully by MasterCard’s global network.
EcoPayz global payments solutions provider launched its one-use payment card allowing consumers to securely pay for goods online and over the phone. The new ecoVirtualcard can be immediately acquired and used to spend around the world wherever MasterCard is accepted. With the ability to run the card independent of the customer’s bank account, the card offers maximum security and privacy – and expires once used, ensuring it can never be lost or stolen. The competitively priced virtual card is already being hailed as the best alternative to similar products offered by banks, and owners of the card have ambitious plans for its future adoption around the globe. With the card available in GBP, USD and Euros and support staff fluent in 7 different languages the card is swiftly attracting a global customer base. Previously hesitant shoppers citing security fears as a barrier to online shopping are now also being drawn to the card.
Allpay invested £3m in a new facility at its head office following substantial expansion plans, which will follow the opening of two other brand new office locations. The Company processes over 50 million transactions and handles over GBP 4.5 billion each year. Allpay has already won some significant deals providing payment collection services and card services. The new state-of-the-art bureau and card production facility, due to be fully operational by June 2014 will see an influx of the latest card manufacturing machinery which, will double the current capacity of card production. allpay is also a well-established manufacturer of plastic cards accredited by MasterCard® and Visa with a growing global client base. With secure production facilities in Hereford, allpay provides a fully managed fulfilment service for credit and debit cards to prepaid, transit and ID cards.
Travelex joined MasterCard and Access Prepaid to introduce a new tool for international travelers with the launch of the new Multi-Currency Cash Passport Prepaid MasterCard. The new travel money card is the first of its kind available in the U.S. and can carry up to five foreign currencies simultaneously. The Multi-Currency Cash Passport is sold exclusively at www.travelex.com and more than 200 Travelex stores throughout the U.S, including locations in most major airports, cities and key tourist areas. Money can be seamlessly reloaded to the card online or in Travelex stores as needed (subject to card limits). Funds can also be transferred from one currency to another, particularly beneficial to multi-destination travelers.