All articles by Verdict Staff
Verdict Staff
New regs threaten US prepaid market
An almighty row has broken out in the US prepaid market after a proposed change to the Bank Secrecy Act, largely used to catch tax-dodging multimillionaires, to include prepaid cards. The proposals have received an angry response from prepaid companies and retailers alike.
Country snapshot: Latin America
Following the economic crisis that hit Argentina in 2001-02, domestic credit card issuers adopted a cautious approach to lending. Consequently, Argentinas credit card industry managed to avoid the effects of the recent global financial crisis, Robin Arnfield writes.
Comment: Freeing up e-commerce in Europe
At a time when consumers are making more and more of their purchases online, cross-border online spending in Europe is stagnant.
Singapore sets the standard in APAC
Debit, credit and contactless card usage are all on the up in Singapore as the payments industry benefits from government support and the city-states reputation as a financial hub. Maryrose Fison reports on the latest developments in this small but highly-influential market.
China’s e-payments rollercoaster
September was a busy month for China UnionPay, the countrys domestic card scheme. First, it signed agreements to partner with both MasterCard and Global Payments in the country. Days later it found itself at the centre of a political dispute between the US and China about foreign access to the countrys market.
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US prepaid funds set to double
The amount loaded onto US prepaid cards is predicted to reach $672 billion over the next three years, more than double the $330 billion placed onto these cards in 2009.
Maybank, Amex issue Malaysian healthcare card
American Express, Maybank and Pantai Holdings, to offer Malaysias and Asias first co-branded card for the healthcare industry The Pantai American Express Credit Card offers benefits at the chain of 10 Pantai hospitals nationwide It is the first such co-branded card issued on the American Express global network targeting consumers in Malaysia
ANZ faces $50m lawsuit on bank, card fees
The group lawsuit against ANZ was filed in Melbourne on behalf of 27,000 of the banks customers looking to recover fees related to overdrawn credit card and bank accounts, late credit card payments and charges for insufficient funds paid over the past six years
Mellon gift cards pass 5 million mark
Non-banking card sales have hit 5 million for the first time at Mellon Technologies, a Greece-based card solutions provider. The company, whose private label card clients include Carrefour, Adidas, Attica Department Stores, Makro, Avin Oil, and EasyCruise, has sold more than 100 million cards, including those in the banking and wider public sector. Over the past 10 years the company has developed card-based solutions for different sectors in the Greek market, and has contributed to the implementation and support of card-based loyalty and gift card campaigns
Voila, Unibank bring m-payments to Haiti
Wireless Operator Voila, Unibank and international relief agency Mercy Corps have teamed up to introduce a mobile money solution in Haiti. Voila, a subsidiary of Seattle-based Trilogy International Partners, will offer a mobile money service allowing Mercy Corps cash-for-work, grant and food voucher recipients to use their phones as mobile wallets This partnership will use wireless technology to spur recovery and development in Haiti and will allow Haitians to store value, withdraw money, transfer funds and make payments using their mobile phones