All articles by EPI editorial
EPI editorial
Global remittance growth stalls
Global remittance growth stalls After years of robust growth, the global remittance market has fallen victim to the financial crisis that has left the world economy in turmoil Combined with increasing competition, stalling growth in remittance volumes could hasten the end of ultra-high fees charged on many major country-to-country channels.
Merchant Solutions talks up prospects for growth in Asia
Global economic problems have not dented the optimism of Singapore-based merchant acquirer Merchant Solutions which reports robust business and skyrocketing payment card transaction volumes. Formed in November 2007 by US payments processor First Data and UK bank Standard Chartered, Merchant Solutions now operates in Bangladesh, Brunei, Hong Kong, India, Macau, Malaysia, Singapore, Sri Lanka and China Merchant Solutions CEO and MD, Sean Hesh, spoke especially enthusiastically about developments in India.
Rahaxi brings China’s online buying power to Europe
Consumers in China will soon be able to use their payment cards to purchase directly from internet-based European retailers thanks to a co-operation agreement between Ireland-headquartered payments processor Rahaxi and ChinaPay, the online payment unit of Chinas only card organisation, China UnionPay (CUP) Rahaxis payments platform will facilitate online, real-time processing and dynamic currency conversion Rahaxi is taking the lead as the only service provider with this offering, said Rahaxis global sales director, Paul Warren
European banks take a look into the future
When it comes to the future, European banks hold strong and divergent views on key issues ranging from SEPA to mobile banking, a survey of 23 major banks undertaken by US banking software and service vendor Fundtech reveals When it comes to the future, European banks hold strong and divergent views on key issues ranging from SEPA to mobile banking, a survey of 23 major banks undertaken by US banking software and service vendor Fundtech reveals. Undoubtedly the biggest change facing European banks is SEPA and its negative impact on profitability, which two thirds of respondents believe will be considerable.
Postilion security solution removes human factor
There are 1.6 million ATMs in use worldwide, each one housing a unique master encryption security key that facilitates secure communication between the ATM and the operating system However, time can erode security requiring that the security key must be changed at frequent intervals There are 1.6 million ATMs in use worldwide, each one housing a unique master encryption security key that facilitates secure communication between the ATM and the operating system
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Shoddy backup can cost dearly
UK companies and organisations rely heavily on payments processor Bacs direct credit and direct debit services which last year processed 5.5 billion payments valued at a total of £3.7 trillion ($7.2 trillion).
Small US businesses shun electronic payments
Most US small businesses shun electronic payments as their preferred means of payments Despite this the majority accept that the trend towards electronic payments is unstoppable, indicates a survey unveiled at industry body the National Automated Clearing House Associations Payments (NACHA) 2008 Conference held in Las Vegas in late May Most US small businesses shun electronic payments as their preferred means of payments
Cheques in steady decline in the UK
Continuing a long term trend, cheques continued to loose ground as a means of payment at retailers in the UK in 2007 reveal statistics published by payment industry body Apacs.
UK gets faster payments at last
After a six month delay the UKs new Faster Payments Service (FPS) is now on target to meet its revised launch date of 27 May, payment industry body APACS has announced.
Cash’s big comeback in he UK
A seemingly irreversible trend away from the use of cash by UK consumers was dealt a blow in 2007, reveals a study by industry body the British Retail Consortium (BRC).