All articles by Verdict Staff
Verdict Staff
Wonga buys German payment firm BillPay
UK-based payday lender Wonga has expanded its presence in the global online payments market with the acquisition of Rocket Internet’s BillPay, a provider of payment solutions to online retailers in Germany.
IBM develops two-factor authentication security technology for mobile transactions
IBM has developed a new two-factor authentication security that is based on near-field communication (NFC) technology to perform mobile transactions including online banking and digital signatures.
Nine new retail brands sign up to accept Park Groups Love2shop flexecash card
UK-based gift voucher and prepaid gift card provider Park Groups Love2shop flexecash cards have been signed up by nine new retail brands, which brings the total number of brands accepting the cards to 59.
Country Survey: Rwanda
Rwanda’s card payments channel experienced rapid growth during the review period. The number of cards in circulation increased at a CAGR of 148.95%, from 12,045 cards in 2008 to 460,914 in 2012. This growth was primarily driven by banks’ aggressive marketing strategies and the central bank’s measures to increase the awareness of card-based payments among consumers. The number of cards in circulation is expected to increase from 690,967 in 2013 to 1.4m in 2017, after registering a forecast-period CAGR of 19.78%.
Country Survey: Oman
Steady economic growth, a rise in the volume of the banked population and improvements in payment infrastructure drove the growth of Oman’s card payments channel during the review period (2008-2012). In terms of the volume of cards in circulation, Oman’s card payments channel posted a review-period CAGR of 14.26%. This was mainly driven by growth in the credit and charge card categories. The total volume of cards in circulation increased from 1.9m cards in 2008 to 3.3m in 2012. Over the forecast period (2013-2017), the card payments channel is forecast to grow at a CAGR of 5.22%, from 3.6m cards in 2013 to 4.4m in 2017.
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Country Survey: Rwanda
Rwanda’s card payments channel experienced rapid growth during the review period. The number of cards in circulation increased at a CAGR of 148.95%, from 12,045 cards in 2008 to 460,914 in 2012. This growth was primarily driven by banks’ aggressive marketing strategies and the central bank’s measures to increase the awareness of card-based payments among consumers. The number of cards in circulation is expected to increase from 690,967 in 2013 to 1.4m in 2017, after registering a forecast-period CAGR of 19.78%.
Country Survey: Oman
Steady economic growth, a rise in the volume of the banked population and improvements in payment infrastructure drove the growth of Oman’s card payments channel during the review period (2008-2012). In terms of the volume of cards in circulation, Oman’s card payments channel posted a review-period CAGR of 14.26%. This was mainly driven by growth in the credit and charge card categories. The total volume of cards in circulation increased from 1.9m cards in 2008 to 3.3m in 2012. Over the forecast period (2013-2017), the card payments channel is forecast to grow at a CAGR of 5.22%, from 3.6m cards in 2013 to 4.4m in 2017.
M-payments overhyped? Banks remain most trusted provider
Publication of the annual World Payments Report is among the highlights of the consumer finance reporting calendar. The 2013 report, the ninth such annual report published by CapGemini and sponsored by Royal Bank of Scotland does not disappoint writes Douglas Blakey.
UK cardholders have more credit- but will they use it?
Recently, The Bank of England upgraded its growth forecast for the UK economy, now expecting Q3 growth to be 0.7%, up from the forecast of 0.5% last month. Britain’s Organisation for Economic Cooperation and Development also predicted that economic growth would accelerate by a relatively brisk 1.7 percent between June and December this year. While this is pleasing news for all of us, will consumers have the credit they need to keep the momentum going throughout this economic pick-up, or will the “credit gap” stall their spending? – asks Daniel Melo
Country Survey: Estonia
Estonia’s cards and payments channel went through a difficult time between 2008-2012. This looks set to turn around in 2013, with the country expecting to see some growth in the market. CI explores how the market is set to shift over the coming years