All articles by Verdict Staff
Verdict Staff
Service matters for HNWIs in GCC
Credit card penetration remains underdeveloped in the Middle Easts wealthiest cluster of countries but there are signs that high net worth individuals are beginning to swap cash for diamond-encrusted cards in the six-nation Gulf Cooperation Council Bordered by the Red Sea the Arabian Gulf, the oil-rich cluster of lands which form the Gulf Cooperation Council (GCC) represents one of the largest concentrations of high net worth individuals in the world.
Contis Group makes new hires and outlines end-to-end prepaid model
Contis Group has made two leadership team appointments and consolidated after a run of acquisitions that have turned it into a fully-owned end-to-end prepaid payment solutions provider, the company says According to the firm, Contis Group has become the only end-to-end prepaid provider in Europe that does not to outsource any part of the implementation and programme management process. Other companies outsource at least one stage: but weve been there and we know this adds complexity and cost, Contis group managing director Mike Fromant said.
UnionPay cardholders to get emergency cash at MoneyGram
The global money transfer company MoneyGram has partnered with the Chinese card network UnionPay to offer emergency cash services to UnionPay cardholders. UnionPay credit cardholders will be able to access cash in emergency situations such as stolen, lost or malfunctioning card abroad, if their card issuing bank joins the initiative. Every issuing bank will set its own cash advance limit, up to a maximum of USD5000.MoneyGram chief executive and chairman Pamela Patsley said: “MoneyGram and UnionPay share the goal of providing safe, fast and reliable financial transactions. Through the MoneyGram network, we can often help UnionPay customers to get their emergency cash in minutes.
MasterCard and Everything Everywhere team up
MasterCard has entered a 5-year partnership with the UKs largest mobile operator, Everything Everywhere (EE), to develop new payment solutions for mobile phones, starting with a NFC pre-paid e-wallet. EE customers who own NFC enabled devices will be able to make in-store payments by tapping their phones on 100,000 retail outlets supporting the technology in the country. The president of MasterCard UK and Ireland Marion King said: As the use of cash continues to decline, we will be able to provide Everything Everywheres 27 million customers with an attractive range of new payment services backed by the processing power and security of MasterCard.
Visa launches mobile POS in Thailand
Visa International Thailand has rolled out a Square-style mobile POS device in Thailand, which connects via a smartphones headphone jack and allows merchants to process card transactions through a magstripe reader.
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Azerbaijan’s first instalment credit card finds market
Azerbaijans ASB bank said it has sold 5,000 of its interest-free instalment credit card – the Extra Card – since it was launched two months ago. The co-branded ASB-MasterCard card allows users to pay for good and services with customised and interest-free instalments over a year, in Azerbaijan and abroad.Eldair Jabrailov head of plastic cards at ASB told Cards International that the product targets the Azerbaijani middle class. If people want to buy goods that are a little bit expensive, such as laptops or TVs, they may not be able to afford to pay the whole amount the at the end of the month, as happens with other credit cards, he said. But with Extra Card, they can spread the payments over a year, and they can afford to buy those goods more easily. Jabrailov said cardholders setting up instalments also earn rewards, redeemable in 90 partner merchants, designed to spurring the use of cards in the country.Azerbaijan is progressively moving towards cashless payment methods. In April 2012, MasterCard said it was introducing its contactless payment technology PayPass in the country. Earlier this year Azerbaijani authorities also announced plans to improve the countrys cards and payments infrastructure to tackle corruption an increase transparency in payments.
Singapore largest telcos launch NFC payments
Singapore mobile operators SingTel and M1 have launched a contactless payments service, in a sign of growing interest in the technology generated by Singapore governments efforts to build a SGD40m (USD32m) NFC infrastructure
Verifone reports growth in “Cashless Lagos”
POS manufacturer VeriFone has reported a significant rise in sales in Nigeria, as banks and merchants rush to meet the requirements of the central banks Cashless Lagos initiative According to the firm, this represents more than half of the 150,000 total systems that the central bank expects will be deployed by the end of this year
Czech Komercní banka partners to offer NFC-enabled card
Visa Europe, Czech c, Telefonica and Samsung have partnered to provide 2,000 users of Samsung Galaxy SIII with an NFC-enabled SIM card. Users will
UK: Barclaycard reports 1m contactless transactions a month
The UKs largest acquirer Barclaycard Merchant Services has said it is recording over a million contactless transactions every month. A Barclaycard consumer survey also found over eight out of ten UK respondents know the meaning of the contactless symbol, doubling last years figure A shift in consumer preferences also emerged in the increased usage of cards, with 61% of interviewed saying they prefer cards over cash to buy items up to GBP20