All articles by Verdict Staff
Verdict Staff
Loyalty schemes setting the credit agenda worldwide
Loyalty is a theme which runs through this edition of Cards International, and it is hard to think of a time when the subject has been more of an industry focus. Two in five consumers surveyed by Groupe Aeroplan, the group which owns the UKs Nectar loyalty programme, feel the schemes are more relevant to them this year than last
Cards add $1.1trn to global consumption
It is widely acknowledged that card payments have made the global payments system more dynamic, but some of the worlds biggest retailers maintain cash still has a part to play Recent research from Moodys Analytics attempts to put a figure on the contribution of electronic payments to global economic growth. Card usage and electronic payments added $1.1trn to private consumption and worldwide GDP between 2003 and 2008, according to research.
Brazil banks ‘in talks’ on biometric EMV
US technology provider SmartMetric is continuing to drive EMV migration across Latin America as it looks to set up its first biometric SmartCard manufacturing facility in the region. SmartMetric CEO Colin Hendrick cites the Smart Card Alliance Latin America (SCALA) research report on EMV migration in Mexico and Brazil to support its strategy to push SmartCard technology forward.
MasterCard pushes e-bill payments in LatAm
Latin American consumers are being encouraged to switch to electronic bill payments as MasterCard launch multiple enhancements to its Worldwide Network MasterCard plan to introduce ATM Bill Payments which enables cardholders to use their credit or debit cards to pay household bills at participating domestic ATMs in Argentina and Uruguay
Cap on Brazil card charges hits processors
The Brazilian governments proposals to cap unjust credit card fees may hit bank profits, according to a Bloomberg report. Justice Minister Luiz Paulo Barreto said the government is targeting charges such as the non-activity fee, which is a levy on consumers who dont use their card Barreto argues that such regulations are required to protect more than 30 million people who have emerged from poverty and now have access to credit and mobile phones for the first time.
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Turkey’s Garanti Bank and Avea launch NFC SIM
Turkish Garanti Bank and mobile phone operator Avea have joined forces to launch the first NFC enabled SIM card that converts existing mobile handsets to NFC technology. The SIM card will enable users to make payments using their mobile phones by debiting their Garanti credit cards or by using pre-paid credit Customers will also be able to use their mobile phone to pay for public transport where contactless functionality is available.
Currency conversion service to be launched in the Philippines
Global Payments has launched currency conversion service Global HomeCurrencyPay in the Philippines through its merchant acquiring joint venture with HSBC. It means international customers can choose make payments in either their card billing currencies or the Philippine Peso using their Visa or Mastercard payment cards at participating merchants. The transactions are automatically converted to the customers card billing currencies at the point of sale allowing the consumer to immediately recognise the payment amount.
20 million m-banking enquiries in 6 months
Mobile money network Monitise has revealed that its smartphone applications are being used at the rate of a million hits a week as UK and US consumers turn to mobile banking. Monitise provides mobile banking services to 240 banks in the UK and USA and has processed more than 20 million mobile app banking enquiries and transactions in the last six months A sea change is well underway in how people manage their day-to-day finances as they realise how simple, slick and fast mobile banking is as easy as a few taps on a keypad, said Alastair Lukies, chief executive officer of Monitise
Banks face spike in World Cup fraud
Card fraud in South Africa is already on the up ahead of the World Cup and banks face an even more difficult fraud problem when football fans travel to the country this June. Sharp increases in fraud were seen at previous World’ Cup competitions in Germany and Japan and Korea, as well as at the Beijing Olympics Industry data shows that fraud levels increased as soon as FIFA announced the event would be held in South Africa.
Mastercard extends P2P mobile platform across US
Continuing its bid to drive innovation in the P2P transfer market, MasterCard is to expand its MoneySend P2P mobile platform across the US by the end of this month.