All articles by Verdict Staff
Verdict Staff
The holy grail in fighting fraud?
The fight against fraud utilises many tools such as online secure authentication, PCI DSS and EMV, but data breaches still occur Could end-to-end encryption be the all-encompassing solution that merchants have been looking for
Think tank lambasts recent US reforms
The war of words between US consumer activists and card issuers continues unabated, with a leading consumer think tank alleging that the ballyhooed reforms ushered in by Congress are not making a dent in industry practices.
Focusing on small business savings
While the consumer credit card market stagnates due to economic pressures, the small business card market has seen a noticeable uptake in activity MasterCard is now taking a small business savings programme pioneered in the US and hoping to replicate its success in the UK
Small business spending on the rise
A new report from US payment consultancy Aite Group highlights the growth potential of small business credit cards despite difficult economic circumstances In the midst of a lingering recession that has hit small businesses especially hard, small business credit cards remain a growth opportunity, perhaps because of the tough economy, according to a recent report from US payment consultancy Aite Group.
Visa’s contactless push suffers setback due to US merchants
The payment industrys push towards contactless payment has seen payment networks, issuers, retailers and technology vendors unite in a concerted effort to roll out the technology worldwide, but it appears that in the US, some merchants are willing to use contactless as a stick to beat the networks and issuers over the contentious issue of interchange. US home entertainment retailer Best Buy, which has 1,023 outlets, signed up to accept Visa contactless payments in August 2007 and Visa was not shy about using Best Buy as an example of the attractiveness of its contactless proposition. But over recent months, Best Buy has become one of several major retailers to become increasingly vocal over Visas requirement for merchants to accept signature authorisation for contactless payment, rather than PIN authorisation which carries a much lower level of interchange and therefore lower revenue for issuers.
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Discover loses high-stakes gamble against Morgan Stanley
Discover Financial Services may have hoped to have severed all ties with its former owner Morgan Stanley following Discovers spin-off from the US financial services giant in 2007 But a protracted legal dispute could now see Discover having to hand over $800 million to Morgan Stanley. The case has its roots in 2004, when Discover initiated an anti-trust lawsuit against its much larger network rivals Visa and MasterCard, accusing them of blocking access to the bank-issued card market in the US
Country Survey: Saudi Arabia
Intensive investment and modernisation in all aspects of its society has made Saudi Arabia a fertile growth spot for cards and electronic payments Although debit dominates, credit cards are also proving increasingly popular, and banks in the kingdom are rolling out innovative propositions
China’s changing card dynamics
A new report from US payment consultancy Celent, Credit Card Systems in China: Technology and Vendor Overview, charts the development of the Chinese credit card industry to date, and how rapid growth in a short space of time has driven the need for banks in the country to increase their processing capabilities to handle the growing volume of card payments.
UK and Italy prepaid card usage trends
At the recent Prepaid Cards Summit, held in Rome in November 2009, VRL, publisher of Cards International, presented exclusive research on the awareness and usage of prepaid by UK and Italian consumers One of the key presentations of the 2009 Prepaid Cards Summit held in November in Rome came from VRL, publisher of Cards International, in conjunction with global market research firm TNS, which updated its groundbreaking 2008 research into prepaid awareness in the UK by widening 2009s research to over 6,000 consumers in the UK and Italy.
All quiet on the western front
Card Internationals dealwatch keeps track of the mergers and acquisitions taking place in the global payment industry This month, while deals are still being forged between the smaller players, many of the larger firms are looking to welcome the New Year in as quietly as possible. Several small deals and joint ventures marked the usually quiet period between December and the New Year