RBI Upgrades Star Global’s FFMC License to Add 17 New Money Services

Wirecard’s Star Global Currency Exchange received an upgrade of its license issued by Reserve Bank of India to Authorized Dealer in Foreign Exchange (Category II). The earlier license was a Full Fledged Money Changers (FFMC) Licensee with limited authority to deal only in buying and selling foreign currencies, traveller cheques and prepaid cards for travel…

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Single Ledger Blockchain to Transform the Payments Industry by 2025

A new report finds within a decade, value capture and creation will steer the payments industry as innovative start-ups unbundle the existing logistics supply chain, focusing on certain aspects of it and breaking down the value chain. Using novel business models that are app- or marketplace-based with online brokerage services and aggregated end-to-end visibility across…

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U.K. Credit Card Outstandings Growth Hits 9% YOY – CardData

U.K. consumer credit continued to expand at a brisk pace in October, topping 10% year-on-year (YOY). In October total consumer credit grew to £190.1 billion. The three-month annualized and twelve-month growth rates, seasonally adjusted (SA), were 10.6% and 10.5% respectively. The Bank of England (BOE) reports consumer credit increased by £1.6 billion in October, in…

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Anon Coin Market Ready for a Big Shakeout in Wake of Ponzi Cryptocurrency Scams

UK-based cryptocurrency CLOAKCOIN is ready to take on the so-called anon coin market currently being dominated by the latecomers like Monero, ZCash, and others. There are also examples of many people abusing the anon coin market to turn it into an “easy come, easy go” market by creating Ponzi-like schemes around it. These fraudulent actions on…

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Australia Credit Card Outstandings Up Single Digits in Oct – CardData.com

Australian credit card outstandings rose by 1.6% year-on-year (YOY) in October. Credit card credit limits increased 2.3% YOY and the number of credit card accounts rose 2.6% YOY in October. The average balance per account in October declined 1.0% YOY to AU$3070, compared to AU$3074 for September, and AU$3102 for October 2015.

Credit card outstandings for…

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First Data’s Clover Go Reader Among Top Innovative Products of 2016

Among this year biggest payments innovations and product introductions is First Data’s new Clover Go “All-In-One” reader. It is the first fully integrated payment card reader that accepts payments via card swipes, EMV and NFC transactions (including Apple Pay, Android Pay & Samsung Pay) all through a single device.   Beyond its convenient all-in-one functionality,…

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Nationwide Continues Blistering Battle with CFPB Operation Choke Point Litigation

Nationwide Biweekly Administration (Nationwide) has been allowed to move forward with its Operation Choke Point claims against the Consumer Financial Protection Bureau (CFPB). Operation Choke Point is a U. S. Department of Justice initiative meant to block access to payment systems by targeted businesses and shut them down without a court order. In an order…

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Turkish Airlines Joins 35 International Airlines Accepting China’s UnionPay

UnionPay reports the official website of Turkish Airlines accepts UnionPay and the website of AirAsia support multi-currency payment with UnionPay cards. So far, 35 international airlines outside mainland China support online ticket booking with UnionPay cards, and many also provide exclusive offers for UnionPay cards. Recently, UnionPay International has reached cooperation with two more internationally…

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