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Global
November 8 2018
“Despite the hype, new research has revealed that mobile payments are almost as unpopular as cheques. In fact, the payment card is still the number one payment method when it comes to in-store purchases for UK consumers according to IDEX Biometrics. Three quarters (75%) of respondents stated that they use cards, including contactless, most often, compared to […]
On The Web
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Global
November 8 2018
“The EU Court of Justice has struck down Hungary’s national mobile payments system, saying the monopoly violates the EU’s Services Directive. The European Commission brought the case against the country. The company Nemzeti Mobilfizetesi operates the national mobile payment system since 2014, and use of its services is mandatory for mobile payments of public parking charges, road […]
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Global
November 7 2018
“FIA director Mohammad Shoaib told local media about the breach shortly after cybersecurity firm Group-IB warned that a dump of Pakistani credit and debit card details has been doing the rounds of carder forums. According to Geo News, six banks have suspended the use of their debit cards outside of Pakistan. Last week, hackers got away […]
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Global
November 8 2018
“Taking on critics of the move who say most of the banned Rs 500 and Rs 1,000 currency notes returned to the banking system, the finance minister in a Facebook post said: “An ill-informed criticism of the Demonetisation is that almost the entire cash money got deposited in the banks. Confiscation of currency was not […]
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Companies
November 9 2018
“The company said Friday that the Chinese central bank has given it preliminary approval to handle payments in yuan. AmEx (AXP) can now start setting up the payments network through a joint venture with LianLian Group, its Chinese partner. In every other market around the world, AmEx processes transactions through its own network, whose hub […]
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Global
November 14 2018
“As a proportion of total payments, mobile transactions in the UK have jumped from 1.3% in Q3 2016 to 5.6% in Q3 2018, representing an overall increase of 331%. Compared to this time last year, mobile payments have increased by 60%. The data comes amid growing popularity among consumers as retailers become increasingly willing and able to […]
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Global
November 14 2018
“As Singapore accelerates its journey towards a cashless society, the use of mobile payments* is gaining traction among Singaporeans. According to The Future of Payments Study** conducted by UnionPay International and Nielsen with 400 Singapore consumers aged 18 to 65, 58% of Singaporeans have used at least one form of mobile payment in the past three months, and close […]
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Global
November 14 2018
“The CBN data show that 120 million PoS transactions were recorded in H1 2018, representing an increase of 103% y/y. The volume of point-of-sale (PoS) transactions indicates the impact of the CBN’s cashless policy on the economy. Meanwhile, mobile payments amounted to 28 million transactions valued at N495bn (US$1.6bn) in H1 2018. The volume of transactions […]
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Companies
November 13 2018
“Google’s aptly named payment service, Google Pay, has been gradually moving into all corners of the globe. The latest country to be added to the list is the United Arab Emirates. While not officially announced, the United Arab Emirates was added to various Google Pay support pages today, indicating its imminent availability.”
On The Wires
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Global
November 7 2018
“Millions of small businesses around the globe turn to PayPal for their payment processing and funding needs. Today, PayPal is expanding its PayPal Working Capital program into Germany with PayPal Businesskredit. PayPal Businesskredit will offer PayPal merchants a financing solution that will help them further grow their business.”
