All articles by Verdict Staff
Verdict Staff
UK MPs accused of credit card misuse
Calls for greater transparency in the credit card spending behaviour of UK public sector staff are becoming deafening as MPs have once again found themselves in hot water regarding their expenses. MPs have racked up almost a million pounds on taxpayer-funded credit cards in two months and it is feared that if spending data is released, it could provoke a reaction similar to expenses scandal that hit the UK in 2009.
Monarch Airlines axes debit booking fees
Monarch Airlines has blasted its rivals for stinging customers with hidden fees as it makes moves to abolish debit card fees and cap credit card fees for booking flights. All customers using debit cards to book Monarch flights will incur no booking fees, while those using credit card will be a £10 fixed fee, regardless of the value of the transaction and the number of people travelling.
CUP strikes card acceptance deal in Brazil
China UnionPay (CUP) payments cards are to be accepted in Brazil for the first time following an agreement with merchant acquirer Redecard and Latin Americas Banco Itau.The acceptance of UnionPay cards via Itau ATMs and the opening of merchant (POS terminal) acceptance business in Brazil is a significant breakthrough in UnionPays card business in Latin America.
PayPal makes further moves into Brazil
E-commerce solutions provider Digital River is fuelling PayPals expansion into Brazil through its online payment processing solution. PayPal leveraging of Digital Rivers World Payments Solution will aid local online payment processing in Brazil and Mexico and acts as an extension to the companies nine-year existing relationship.
ICBC Asia rewards frequent flyers
The Industrial and Commercial Bank of China (ICBC Asia), together with Hong Kong Airlines, has developed the ICBC Asia Hong Kong Airlines Visa Platinum Card to give added privileges to frequent travellers. The newly launched co-branded card will automatically enrol cardholders into Hong Kong Airlines frequent flyer programme – Fortune Wings Club – where they can exchange points accumulated from card spending for air miles. Cardholders are also granted access to the airlines VIP lounge, can enjoy a 24-hour private concierge service provided by Visa and take advantage of other perks including food and drink, hotels, shopping and golf.
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Life after interchange
The political intrigue in Washington may be far from over as the interchange war rages on but its not too early to envision what the US payments landscape might start to look like, writes Charles Davis
Law firm calls prepaid into question
US law firm Hagens Berman is conducting investigations into potential claims that five prepaid debit card companies engaged in deceptive practices. The investigations follow the issuance of subpoenas by the Office of the Attorney General of Florida to prepaid providers: First Data, Green Dot, Account Now, Netspend Holdings and Unirush Financial Services.
UK Payments Council launches m-payments project
The UK Payments Council has launched a collaborative project between banks and building societies to help facilitate the creation and adoption of P2P mobile payments. The first stage of the m-payments project, which falls under the Pay Your Way consumer education campaign set up by the Council in 2007, will be to scope out what the core service might look like for customers so potential suppliers and project costs can be identified.
U-turn could put mobile payments on track
Isis the consortium of wireless carriers that burst onto the scene in November 2010 with grand plans to launch a payments network to challenge Visa and MasterCard has toned down its ambitions. A wise decision, writes Louise Naughton.
Trust no-one
The recent theft of Sony customers payment details has put e-commerce security in the spotlight. Louise Naughton finds that security measures can easily be improved, with little impact on the consumer experience. What Sony needs is a little less trust in its customers.