All articles by Verdict Staff
Verdict Staff
Samsung and Visa bring mobile payments to the 2012 Olympics
Samsung and Visa both official Olympic partners have announced joint plans to offer mobile payments in time for the London Olympic Games.A new mobile handset produced by Samsung will incorporate Visa contactless technology. Seokpil Kim, president & CEO of Samsung Electronics Europe said: In London next year, we regard the greatest show on earth as the perfect opportunity to showcase how this technology can make a positive difference to peoples lives – enabling them to feel closer to the Olympic and Paralympic Games.
Amex enters digital arena with Serve
American Express (Amex) has launched digital P2P platform Serve, designed to unify multiple payment options and aimed at cash-led consumers.Consumers can make purchases and P2P payments online via mobile phones and at any merchant that accepts Amex cards. Serve accounts can be funded by a bank account, credit, debit or charge card, or by receiving money from another Serve account.
Amazon and Google talk m-payments
Amazon is considering plans to strengthen its presence in the bricks-and-mortar space by launching mobile wallets equipped with near-field communication (NFC), according to a report by Bloomberg.The online retailer is the latest company to express interest in m-commerce and this move will place it in direct competition with other major players such as Google, Apple and Microsoft.
Store cards a major force in Latin America
Retailers store card programmes play a major role in Latin Americas payments industry, since so many Latin American consumers do not qualify for bank-issued credit cards. But store card issuers are facing competition from banks prospecting for cardholders at lower socio-economic levels. Robin Arnfield reports.
Agent banking in Latin America
Through partnerships with banks, retailers play an important role in providing financial services such as loans, deposits, withdrawals, account-opening and bill payments to low-income Latin American consumers in a model known as agent- or correspondent-banking.
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Country Survey: Russia
The Russian cards market is one of the fastest growing in the world, with consumers becoming increasingly comfortable with credit card products and online card payments. Despite this, card payments represent a small opportunity in Russia, with cash withdrawals at ATMs estimated at making up 90% of all card transactions.
Face first?
Alternative payments solutions are arriving on the market thick and fast. One of them, FaceCash, promises to eliminate security problems by using their customers face as a means of identifying them at point of sale. Charles Davis looks at the product in more detail.
Tuxedo launches e-quality prepaid card
Prepaid card provider Tuxedo Money Solutions has partnered with social and financial business solutions company Fair Advantage to launch an e-quality prepaid MasterCard to increase financial inclusion in the UK.The card has been developed to become a long term solution to economic problems that beset poorer neighborhoods and aims to improve social and financial well-being, facilitate entry to employment and create financial stability for those who are unbanked or frequently affected by bank charges and debt.
MasterCard’s five-year plan Down Under
All MasterCard payment cards in Australia will be PayPass-enabled by October 2012 as part of the networks five-year roadmap to grow the countrys payment system. More than 5.3 million MasterCard PayPass contactless cards have been issued in Australia and are currently accepted at 35,000 merchant locations, according to MasterCards divisional president Eddie Grobler. The growth of PayPass transactions grew 235% between June and December 2010 and this figure is set to grow even further under MasterCards new plans.
A cause for celebration?
While UK card fraud figures continue to plummet, Louise Naughton asks whether the payments industry can afford to relax, with fraudsters increasingly moving into the online world and more e-commerce and digital goods merchants finding themselves exposed and vulnerable to risk.