All articles by Verdict Staff
Verdict Staff
Indian prepaid payment processor Yalamanchili expands into Europe
Because prepaid products require different processing systems to traditional debit and credit schemes, many European banks are struggling to find a way to profit from the sector, despite growing demand amongst end users
Card delinquency in UK falls to two-year low
The FICO quarterly cards data report, for the three months to end March, reported that less than 5% percent of the balances on classic (non-premium) credit cards were 30 days delinquent in March, a two-year low In addition, the percentage of accounts that are over limit has also declined over the last six months, hitting a two-year low of 2.6% in March.
MasterCard loses appeal; EU outlaws interchange fees
The General Court of the EU has ruled that the multilateral interchange fees (MIFs) levied by MasterCard are contrary to competition law MIFs are multilaterally agreed inter-bank fees charged by a cardholder’s bank to a merchant’s bank for each card transaction made at the point of sale (POS). The Courts decision confirms a 2007 decision of the European Commission (EC) that prohibited MasterCards MIFs as they could constitute an anticompetitive business practice.
US stay-at-home mothers challenge CARD Act
This is despite the fact that I make 95% of our household purchases, have an impeccable credit score and handle the majority of my familys finances,saidHolly McCall,theauthor of the petitionthat ishostedonwww.change.org.The new rules send a message that stay-at-home parents are not as credit-worthy as young adults still in school without their own income, the petition reads.
Benchmarking ATM operations
Banks are realising this and now a new benchmarking report by Value Partners and Atmia profiles the global ATM market place to provide and insight into the performance and cost structure of ATM estates. The paper, titled ATM Benchmarking Study 2012 and Industry Report, is intended to compare and analyse performance to spur ATM management development and adoption.
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BNP Paribas’ TEB inks deal with Transoft Internation
The Turkish subsidiary of BNP Paribas, TEB, is going to use Transoft Internationals OptiSuite Cash Management Solution to optimise its ATM operations. Its OptiSuite is an end-to-end currency management software solution, which TEB will deploy for cash forecasting, cost balancing, ordering, monitoring, expense tracking as well as other operations.
PCI DSS survey: Barclaycard polls small businesses
The survey, which is conducted in partnership with software security firm Vigitrust and payment network Visa, tries to give SMEs with e-commerce exposure a voice and aims to find out how they comply with the Payment Card Industry Data Security Standard (PCI DSS). By listening to small businesses, we can tailor the help we provide so it fits their needs, making it easier for them to protect their customers and their business, said Neira Jones, head of payment security at Barclaycard
Banks: Intraday liquidity management more essential than ever
As banks and corporates are gearing up to equip themselves with the appropriate strategy, service and products to meet an array of regulatory requirements think SEPA, Basel III, for instance real-time overview of intraday liquidity becomes a more and more essential business stream As the cost structure of financial institutions changes with ongoing economic woes and oncoming regulation, an efficient intraday liquidity system could result in systematic risk reduction and control
Jakarta: Transjakarta, DKI Bank introduce smartcards for public transport
Jakartas bus rapid transit systemTransjakarta will start phasing out paper tickets in its buses by the end of May and replace these with electronic smartcards that will be issued by DKI Bank The new e-payment system will be, initially, available in the Corridor 6, the route with the smallest volume of commuters using a bus inJakarta. The prepaid card will be called JakCard and will be extended to other commuter routes August, provided the pilot in Corridor 6 is successful.
Moneycorp’s ATMs outsourced to VocaLink
Foreign exchange services provider Moneycorp is going to outsource the management of its ATM estate to VocaLink. Moneycorp, whose ATM services are available at four UK airports and in major cities, expects to grow their market share over the next years with this partnership. With VocaLink managing our growing estate of ATMs, we benefit from a feature-rich, end-to-end ATM service which has enabled us to provide DCC and other services to our customers, said Mark Horgan, CEO at Moneycorp