mPOS (mobile point of sale) in Europe will take off dramatically in 2014, driven by changing perceptions towards card acceptance usage by small businesses (SMEs) and micro-merchants. The number of European merchants signing up for Chip and PIN mPOS increased by more than 60% in the last quarter of 2013.
CHAPS Clearing Company announced BNY Mellon has joined CHAPS as a Direct Participant. BNY Mellon is a global investments company which provides financial services for institutions, corporations or individual investors. As of March 31st 2014, BNY Mellon had $27.9 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon is an established provider in the UK and contributes substantially to the CHAPS daily value flows. BNY Mellon has joined CHAPS as a result of the introduction of tiering criteria by CHAPS and the Bank of England. This dovetails with BNY Mellon’s strategic aims to expand their global payment capabilities to better support their clients’ needs as the global payments landscape continues to evolve.
Internet and tech entrepreneur Halsey Minor announced the launch of Bitreserve, a bitcoin platform that addresses bitcoin volatility and provides real-time transparency, transaction traceability, and proof of solvency. Bitreserve Members can hold bitcoin denominated in dollars, euros, yuan, yen, and pounds. These “bitcurrencies” are backed by a full reserve of real-world currencies.
SecureKey today announced that its briidge.net Connect™ Platform has been chosen by the Royal Canadian Mint to provide device-based multi-factor user authentication for its new MintChip cloud-based digital currency. The briidge.net Connect Mobile SDK built into the MintChip consumer mobile app, combined with the briidge.net Connect service, will enable consumers to make cash-like MintChip payments using their smartphones and other mobile devices more conveniently and securely than current contactless payment card transactions. The briidge.net Connect Mobile SDK embedded in the mobile app allows the MintChip system to positively identify the mobile device connecting to the consumer cloud account through a unique device ID. Prior to a payment transaction, the software authenticates the user by their 4-digit QuickCode PIN.
FleetCor Technologies fuel cards and workforce payment products to businesses signed a long-term agreement with Visa Europe. FleetCor will utilize its Global FleetNet (“GFN”) fuel card processing system together with Visa Europe’s EMV standard chip and PIN intelligent technology to deliver new fuel card solutions across Visa Europe territories. The companies plan to develop new fuel card propositions together with the first planned implementation in FleetCor’s Allstar business in the UK. Allstar will be the first to offer this Visa Europe chip and PIN technology in the commercial fuel card space.
Visa launched a new partner program designed to accelerate the introduction of innovative payment solutions globally and further drive the global migration from cash to electronic payments. The Visa Ready Partner Program paves the way for mobile device manufacturers, technology partners, mobile network operators, and others, to easily navigate the complexities of the payments ecosystem, and to gain access to Visa IP, licenses and best practices. The Program is designed to provide innovators a path to ensure that devices, software and solutions used to initiate or accept Visa payments are compatible with Visa’s requirements, which may vary by country. It also provides a framework for the collaboration with Visa, as well as guidance and best practices to access the power of the Visa network. Mobile point-of-sale acceptance (mPOS) providers, mobile NFC-enabled device manufacturers, and chip and platform providers are among the stakeholders that are already playing a critical role in enabling new ways to pay and that will benefit from the Visa Ready Partner Program.
Visa, in collaboration with mobile operators is set to demonstrate at the Mobile World Congress 2013 in Spain. Visa’s product showcase will provide attendees the NFC Mobile Payment Experience, for which it partnered with Telefonica, La Caixa and the GSMA to provide select Mobile World Congress attendees with a hands-on mobile payments experience. Also Visa and GSMA will release a new five-country study, “Unlocking the Potential: Women and Mobile Financial Services in Emerging Markets,” offering insights on how mobile financial services can better support the complex financial lives of women at the base of the pyramid.
CaixaBank, Gemalto, Telefónica and Visa Europe are set to deliver a payments application which will be offered to 3,500 delegates at Mobile World Congress on February 25-28th. The app, developed by Telefónica Digital, will allow delegates to make mobile contactless payments using a pre-paid card especially developed for mobile payments, which has been enabled to work with Visa’s contactless payment technology. The card is issued by MoneyToPay, the new subsidiary for the prepaid business created by CaixaBank.
Annual spend on Visa debit cards across Europe has exceeded €1trillion for an annual increase of 8.8%, reports payments technology company Visa Europe. Total spend by Visa cardholders grew by 8.0% to €1.3 trillion. This was underpinned by a 16% growth in e-commerce, the fastest growing part of the Visa Europe business. Online spending on Visa cards in Europe topped €200 billion (€202bn) for the first time and accounts for more than 20% of Visa Europe’s processed business. €1 in every €6.75 spent in Europe is on a Visa card, a figure that rises to £1 in every £3 in the UK. Growth was also strong in other core areas of the Visa Europe business, with spending on commercial cards increasing by 17.6% and on prepaid cards by 18.3%. In the UK, total spend increased by 6.1% to £407bn with spend on debit cards increasing by 7.1% to £360bn. E-commerce grew by 11.5% to £96bn, representing almost a quarter of total spend. Contactless transactions in Europe quadrupled in 2012 and Visa Europe expects to repeat this growth in 2013.
Transact24 migrated its three unique Visa prepaid card programs in partnership with CashFlows, improving the services that the T24 Prepaid division can offer to its valued customers and partners and widening the geographical area from which applications for our prepaid cards can be accepted. These include the T24 Black prepaid card, offering priority pass and international travel insurance. The T24 BlackShield offers a unique travel protection membership program allowing medical and travel claims can be paid directly to the prepaid card, thereby streamlining procedures for the business to consumer sector. The T24 PayVault – a dedicated corporate pay-out / payroll product with a custom designed and automated back office, offers full integration to corporate clients.
Visa announced during the London 2012 Games it will showcase the latest payment innovations, namely payments via mobile phone and chip-enabled payment cards. During the London 2012 Olympic and Paralympic Games, Visa and its partners are enabling Visa sponsored athletes, trialists, and visitors to experience the new solution. To make purchases, consumers select the Visa icon on the Samsung device and hold the phone to a contactless payment terminal to pay. The application also users to manage their spending by checking account history and balances real time. There are around 37 million Visa payWave-enabled credit, debit and prepaid cards in circulation across Europe. Contactless cards will enable visitors to the London 2012 Games to make “wave and pay” purchases at thousands of retailers. PIN or passcode is not required for purchases below £20 (limits vary by country). By the end of 2012, Visa Europe expects to have more than 50 million Visa payWave cards in circulation in Europe.
Since 2012 STUZZA provides an e-Service Scheme Operator for payment institutions which is operated by ARZ Innsbruck as technical provider. With this central Scheme Operator various e-Services can be operated and managed by using existing banking infrastructures like Online-Banking applications for e.g. e-payments. This e-Service Scheme Operator serves as central routing and validation platform for…