Payments News

On The Web

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Global

As U.S. Contactless Card Payments Ramp Up, Canada and the U.K. Point the Way to Mass Adoption

“Canada’s largest merchant acquirer, Toronto-based Moneris Solutions Corp., says that in the first quarter contactless for the first time accounted for more than half of card-present transactions—51.5%. Contactless payments grew nearly 25% year-over-year while overall credit and debit card spending rose only 2.5%, Moneris reported. Meanwhile, nearly one-third of all credit and debit card transactions in […]
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Global

Venezuela to Ditch Visa & Mastercard by Early 2020 – Reports

“The central bank of Venezuela will develop an independent national payment system to get rid of international giants Visa and Mastercard in response to US sanctions, according to local media citing the regulator. The document, which also separately mentions multi-national debit card service Maestro owned by Mastercard, orders a suspension of debit card operations starting […]
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Global

Starbucks Rewards Chinese Customers With Mobile Order & Pay Service

“Coffee giant Starbucks has begun rolling out its Starbucks Now mobile-based, pre-order and pay service to 300 stores in Beijing and Shanghai . The company plans to introduce Starbucks Now across China this year as it seeks to build a closer relationship with its customers in the country. The Mobile Order & Pay service is […]
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Global

Sberbank to Open First Branch in McDonald’s Restaurant

“Under the agreement, signed at the St. Petersburg International Economic Forum, the companies intend to partner in card acquiring and a number of other more innovative areas such as using technical systems to analyze data, developing consumer behavior analysis systems, speeding up bank card payments, developing a payroll project for employees, and the opening of […]
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Global

PayU Launches Operations in Kenya to Enable Global Organisations Seamless Access to East African Markets | Africanews

“PayU’s successful Kenyan operation has been approved by the Central Bank of Kenya, cementing its standing and local approval. The launch of PayU in Kenya provides organisations with on-the-ground local liaisons, strong relationships, improved stability and reduced downtime, and localised customer support. With PayU Kenya, users are able to transact in volume at the approval […]
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Global

3 Biggest Fintech Trends Shaping Latin America

“Latin America is one of the fastest-growing regions in the world for mobile usage. In fact, the region ranks third for smartphone adoption globally, behind North America and Europe In 2017, the percentage of the Latin American population with smartphones hit 61% , and LAVCA predicts it will reach 76% by 2025. In Brazil, for […]

On The Wires

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Global

RBI publishes ‘Payment and Settlement Systems in India: Vision 2019 – 2021’

“The Reserve Bank of India has today placed on its website the “ Payment and Settlement Systems in India: Vision 2019 – 2021 ”. The Payment Systems Vision 2021 with its core theme of ‘Empowering Exceptional (E)payment Experience’ aims at empowering every Indian with access to a bouquet of e-payment options that is safe, secure, convenient, […]