All articles by Verdict Staff
Verdict Staff
Aite report shines spotlight on industry
Aite report shines spotlight on industry The US card industry is in turmoil, with rising delinquencies and a wave of pro-consumer regulations only adding to profitability pressures
Promising signs from the Eastern front
The 22nd Cards and Payments Europe conference and awards, organised by CI and VRL, brought together an array of distinguished industry experts to debate the pressing issues facing Europes cards industry, with a special focus on the increasingly important Central and Eastern European region.
Highlighting outstanding innovation
The payment landscape has changed considerably since last years Cards and Payments Europe event, and this years CPE Awards gala dinner acknowledged some of the outstanding innovations that are helping payment players to recruit and retain customers in an uncertain economic climate .
News Digest
REMITTANCESWestern Union triumphs in dispute with ArizonaA long-running legal battle between Arizona and Western Union has ended with the US states Supreme Court ruling in the remittance giants favour.The saga began in September 2006 when Arizonas attorney general, Terry Goddard, obtained a warrant seeking to seize all Western Union transfers over $500 sent by anyone in 28 US states to locations in the Mexican state of Sonora The objective of the seizures was to crack down on the illegal transfers federal investigators estimate earn criminals in Arizona alone between $1.7 billion and $2.5 billion annually in fees.A temporary restraining order blocking the seizures by Goddard obtained by Western Union was affirmed by the Arizona Superior Court, which quashed the warrant However, the state appealed, and the Court of Appeals reversed the Superior Court decision.Western Union then appealed to the Arizona Supreme Court, resulting in the Supreme Courts ruling in favour of Western Union.Following the Supreme Courts decision Western Union commented in a statement: This matter involved Western Union protecting the interest of our consumers
Highlighting outstanding innovation
The payment landscape has changed considerably since last years Cards and Payments Europe event, and this years CPE Awards gala dinner acknowledged some of the outstanding innovations that are helping payment players to recruit and retain customers in an uncertain economic climate The prestigious black-tie event included senior payment industry executives from all over the world, and this years roster of winners is noteworthy in that it includes not just large and long-established players such as Standard Chartered and BNP Paribas, but also many relatively small, nimble players who are also making an impact on the cards industry
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A market ripe for major expansion
In recent years, significant progress has been made in implementing a modern electronic infrastructure in Latin America However, that a significant amount of work needs to be done is abundantly clear from a series of interviews conducted by Robin Arnfield with analysts and players in the Latin American payments market A region encompassing 20 countries large and small, Latin America represents a vast market with a population of some 570 million people and a total GDP of $3.33 trillion in 2008
Drop in delinquencies is good news
It would appear so following the latest report from credit ratings agency Fitch, which has reported that US delinquency levels are receding from previous highs
Region Round-up
JCB International teams with Ping An Bank Japanese payment card consortium JCB has announced that its international subsidiary JCB International (JCBI) has signed an agreement with Chinese bank Ping An for the issuance of JCB cards in China. The Ping An Bank BE@RBRICK JCB card features the popular BE@RBRICK bear-shaped block-type figure owned by Medicom, a Japanese toy maker.
Czech card growth – the ‘cool’ factor
In a little over a decade, the Czech Republics card payment industry has emerged as one of the most forward-thinking in Europe, thanks to a concerted focus on flexible offerings, enhanced technology and an eye on the increasingly important and e-commerce savvy youth consumer segment The Czech Republic has successfully transformed itself into a capitalist society since the overthrow of communism nearly 20 years ago, and a burgeoning consumer class is embracing new payment methods in ever greater numbers year after year.
Are cheques checking out?
Although cards are biting into cash and cheque usage in the US, certain consumer segments are still heavily dependant on paper-based payment methods A new alliance between a cash-chequeing company and a real-time decision technology provider is hoping to change that, as Charles Davis reports. The largest cash-chequeing firm in the United States has teamed up with a real-time decision technology firm in an effort to transition its cash and cheque customers toward card-based products.