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).
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.
Samsung Pay had added eight more credit and debit card issuers and now supports eligible Chase Visa credit, debit and Liquid cards.
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.
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.
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.
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.
U.S. bank credit card active accounts (accounts with sales activity), among the top four U.S. issuers, notched up 0.6% year-on-year (YOY) and sequentially in the third quarter.
After a haircut in its IPO earlier this week, to $9.00 per share, Square’s first day of trading yesterday soared more than 60%, closing at $13.07. It was expected to price in the $11 to $13 range but there has been growing skepticism among institutional investors in regard to tech unicorns.
Five interconnected forces are set to disrupt retail, presenting retailers with powerful challenges and opportunities. Economic, demographic, technology, urban and consumer forces are combining to create new markets, transform consumer expectations and reshape the rules of retail.
FL-based Stonegate Bank becomes the first bank to offer a Debit MasterCard that can be used at any of Cuba’s 10,000 hotels, restaurants and other card-accepting merchants.
U.S. Millennials (aged 16-30) are the most likely to adopt new buying methods such as mobile payments with 9% of U.S. millennials using mobile payment applications daily.