All articles by Verdict Staff
Verdict Staff
New markets for Malaysia
Payment cards are beginning to penetrate all segments of the Malaysian market, aided by the rise of Islamic banking and an expanding consumer base. Truong Mellor reports on how concerted efforts by bank and the government are driving up levels of non-cash usage.
Banche Popolari closes in on CartaSi
Istituto Centrale delle Banche Popolari Italiane (ICBPI) is in advanced talks to buy CartaSi, Italys largest card issuing and acquiring business and could complete the deal by October.
Ivobank stakes claim in online payment
Reportedly the first new privately funded bank in the UK for 200 years, Ivobank is the latest player to enter the UK online payments market. Roy Driver caught up with CEO Tim Sawyer to understand what is behind this new bank, along with his forecasts on the end of UK free current accounts.
Debit’s domination in Germany
German banks are playing a key role in shaping the future of Europes cards and payments industry, as they seek to find a way to keep the national debit scheme alive under SEPA However, with economies of scale hard to find, card growth levels have some way to go to match the rest of Europe.
Amex drops lawsuit and settles with MasterCard for $1.8bn
Amid faltering economic conditions that are not boding well for US card issuers, American Express (Amex) has received a timely $1.8 billion windfall from card network rival MasterCard in exchange for dropping an anti-trust lawsuit alleging that MasterCard had illegally blocked Amex from the bank-issued card business in the US.
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Anti-trust probe threat sees Visa drop PINs for low-value purchases
Visa Inc has dropped a requirement that consumers enter PINs when using Visa-branded debit cards to make low-value purchases in the US Had Visa not dropped the PIN requirement, it would have been facing another anti-trust probe from the US Department of Justice.
TD aims to boost private-label business
Charles Davis reports on how Toronto Dominion Bank is aiming to boost its private-label card business in the US and Canada, as other private-label players struggle with the impact of the credit crunch. Alongside a rebranding initiative, TD is also considering portfolio acquisitions to boost its market share.
E-payments a catalyst for Malaysia
A recent speech from the governor of Malaysias central bank highlights the benefits that Malaysia can reap from increased usage of electronic payment channels, including greater consumption and enhanced financial services Electronic-based payment systems can generate annual savings of up to 1 percent of the gross domestic product (GDP), Bank Negara Malaysias governor Tan Sri Dr Zeti Akhtar Aziz stated in a recent speech at the Mobile Digital Signature Symposium.
Giving credit to Italy
Italy’s payment card market is characterised by heavy debt usage, but as Victoria Conroy reports, innovations such as prepaid cards and contactless technology are making their mark. Credit card usage is also holding up amid strong promotional efforts by Italian banks.
Not all doom and gloom in the US
Despite a faltering economic outlook, US card issuers and networks are managing to drive growth in some areas.Changes in consumer payment behaviour are also pushing a greater number of payments towards debit cards.