Payments News

On The Web

nbsp;

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 […]
nbsp; nbsp; nbsp;

Deals

Citigroup Enters Banking’s Hottest Business With New Payments Unit

“Banks, meanwhile, are bolstering their own payment offerings, especially for massive merchants such as Amazon.com Inc. U.S. banks last year ramped up a nascent real-time payments network to move money instantly between consumer accounts. In January, JPMorgan Chase & Co. said it was combining its once-separate merchant-to-consumer unit with its broader corporate-transactions business to create a […]
nbsp;

Providers

How U.S. Banks Took Over the World

“A decade after fueling a crisis that nearly brought down the global financial system, America’s banks are ruling it. They earned 62% of global investment-banking fees last year, up from 53% in 2011, according to Coalition, an industry data provider. Last year, U.S. banks took home $7 of every $10 in merger fees, $6 of […]
nbsp; nbsp;

Providers

CIT Expands Direct Bank Offering With Launch of EChecking

“CIT’s national direct bank, CIT Bank , today announced the launch of eChecking , a new digital checking account featuring no monthly fee, up to .25% APY and an ATM Fee reimbursement of up to $15 a month. To enhance the banking experience, the new account also features a wide variety of electronic transfer and payment solutions, […]
nbsp;

Providers

EU Banks Plot Pan-European Rival to Visa and Mastercard

“A group of 20 European banks are working together on “setting up a pan-European payment system to challenge the dominance of Visa, Mastercard and technology companies such as Google and PayPal,” French news agency AFP reports . “The Pan European Payment System Initiative (PEPSI) would handle all forms of cashless transactions,” AFP was told.”
nbsp; nbsp;