All articles by Verdict Staff
Verdict Staff
Analysis: Electronic Bank Account Management
Electronic Bank Account Management (EBAM) is a hot talking point for treasurers worldwide. We investigate what the fuss is about and what corporate treasurers want to know exactly
Ukash expands distribution reach in Argentina
Ukash vouchers are now available in the whole of Argentina. Previously, the service was only available Buenos Aires.Ukash breaks now into the whole Argentinean market teaming up with local store More Money through its partnership with Raberil Trading. Ukash vouchers can be ordered verbally by simply confirming name and address, once the customer is registered with their nearest More stores, the company said. Ukashs alternative cash payment method seems to suit the Argentinean market, where bank account penetration is low, while rates of internet access and e-commerce are on the rise. We knew the opportunity to shop online using cash would be well received, said David Hunter , CEO of Ukash, said. Research conducted by the online payments company in Argentina showed that cash transactions accounted for 42% of all purchases against 4.6% of those made by card. In February last year, Ukash launched its prepaid e-voucher services in Brazil, aiming to capitalise on the growth of e-commerce in the region. Ukash had made a previous attempt to enter the Cariocas market a year before. However, in April 2010 it was forced to cease activity due to technical problems with issuing partners.Ukashs distribution network now spans 50 countries.
Google Wallet hit by vulnerability claims
Google wallet has taken a hit when a senior engineer at a Colorado, US-based security firm developed an app that can crack the four-digit PIN of the wallet. The engineer, Joshua Rubin, from zvelo, developed the Wallet Cracker app and showed just how vulnerable Google is to fraudsters on a video posted on his blog.
The Debanked – watch out for them if you are into prepaid
We have the banked, the unbanked and now, according to Aite Group, it is time to look at another customer segment the debanked.The debanked is the segment of customers who already have a bank account, but no longer are satisfied with the services they receive from banks. One key characteristic of the debanked is that they ditch traditional banking services not because they have to, but because they want to.The debanked therefore represent a major market opportunity for prepaid and alternative debit card providers such as Green Dot, NetSpend and even retail chains like Walmart, says the latest Aite Group report.
HSBC Merchant Services inks deal to process UnionPay card payments in UK
HSBC Merchant Services is going to process UnionPay card transactions made in the UK directly from now on. For HSBC Merchant Services, this is a first until now, the acquirer processed foreign card payments via an international system. The deal should provide the merchant acquiring arm of Global Payments with ample revenue opportunities: Currently, average card transactions on UnionPay cards are in the region of $1,265 – $1,890.
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FiTeq Technolgies: Dynamic authentication with EMV magnetic stripe card
Payment solutions provider FiTeq Technologies has launched a payment card that incorporates an approved EMV payment applet which enables a cryptogram to be created within the magnetic stripe data packet for each transaction FiTeq said this solution will ensure dynamic authentication when the card is used at EMV terminals or legacy magnetic stripe terminals Dynamic authentication is used to safeguard cardholder data by making it valid for only one transaction, immediately expiring afterwards which aims to thwart fraudsters
bpost, MasterCard issue PayPass prepaid card in Belgium
MasterCard is getting ready for the launch of its first PayPass prepaid card in Belgium on 13 February. The card network has consulted Clear2Pay for the roll out process and will use Luxembourg-based Cetrels network for processing and Oberthur Technologies for the issuance of dual interface cards.
EPC: 2nd white paper for m- payments
The new white papers release comes after the first in July 2010, which explored how m-payment services can be delivered through cooperation between service providers in the payment industry and players within the mobile ecosystem The updated version describes mobile wallets in more detail and aims to respond to the changing needs in the payments area, demonstrating how m-payments can increase efficiency and convenience
Turkey’s Isbank completes biometric ATM trial
Isbank, the largest bank by assets in Turkey, is rolling out biometric authentication technology across 2,400 of its ATMs and in 1,000 of its branches The bank is implementing Hitachi’s Finger Vein authentication system, and has engaged systems integration specialists MIG International to upgrade its network.
SagePay acquires Integral Computers
The deal, which is worth 20m ($26.5), will allow SagePay to provide its SME customers with fully integrated multi-channel payment services, enabling them to accept card payments however and wherever they run their business SagePay said the solution is a response to merchants increasing need to find a single payment processing supplier for both their offline and online presence, as multi-channel retailing becomes the norm and payment methods merge