PaymentsNews

On The Web

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Global

Payment Systems Regulator confirms market review into card acquiring services

“The PSR is carrying out this review following concerns that the market may not be working well for merchants, and therefore consumers. The regulator published the draft terms of reference for this market review in July 2018. The final terms of reference take into account the valuable feedback the PSR received during the consultation period.”
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Deals

Zafin Raises $17.2M in Series B Funding

“Established in 2002 by Al Karim Somji, CEO, Zafin designs customer centric financial services software used by many of the world’s largest financial institutions to power pricing, product and customer strategies. Its solutions enable banks to increase revenue generation, drive customer transparency and aid in regulatory compliance, ultimately enhancing their agility and their ability to […]
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Global

On trial: travel with a bank card or credit card

“Today, the recruitment of test travelers on the Leiden-The Hague route starts with their payment card instead of the OV chip card. Interested travelers can now register for the test that starts in two weeks and will take half a year. At the stations between Leiden Central and The Hague, participants check in and out at NS […]
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Global

Ecosystem must evolve to make euro instant payments a success

“Europe is currently mapping out its potential road to instant payments – that is, real-time payments in euro, which can be sent end-to-end within seconds, 24 hours a day, seven days a week, 365 days a year, with instant notification to the payer and the payee. Yet as European Central Bank executive board member Yves Mersch […]
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Global

Southeast Asian merchants lead in benefiting from Chinese mobile payment: Nielsen report

“Southeast Asian merchants are leading those in other regions in benefiting from Chinese mobile payment, according to data from the 2018 Trends for Mobile Payment in Chinese Outbound Tourism survey conducted by Nielsen and Alipay. Specifically about three quarters of Chinese tourists used mobile payments on their most recent trips to Singapore, Thailand, or Malaysia, surpassing […]
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Global

Mobile money transactions equivalent of half of Kenya’s GDP

“Central Bank of Kenya (CBK) data shows that mobile money transactions stood at Sh3.98 trillion ($38.5 billion) last year, having increased by Sh346 billion (10%) from 2017. This translates to an average value of Sh10.92 ($108 million) billion mobile cash transactions per day. n short, Kenyans moved nearly half the equivalent of the country’s gross domestic […]
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Global

U.S. set to lose its position as world’s biggest retail market |Chain Store Age

“China’s economy may be slowing, but it is on track to overtake the United States and become the world’s top retail market this year. The latest forecast by eMarketer predicts that retail sales in China will increase 7.5% to $5.636 trillion in 2019. That’s approximately $100 billion more than the United States, where retail sales are […]

On The Wires

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Global

ACI Worldwide, T-Systems Hungary and Takarékinfo Partner to Ready Hungarian Banks for Real-Time Payments

“ACI’s UP Immediate Payments solution will enable 17 Hungarian banks to connect to the country’s domestic real-time payments scheme, set to launch in June 2019. UP Immediate Payments offers a complete range of capabilities for processing real-time payments, including origination, processing, clearing and settlement, fraud detection and connectivity, all on a single platform.”