All articles by EPI editorial
EPI editorial
Deutsche Bundesbank leads the way
However, reducing consumers still-high preference for cash in the retail environment remains a challenge.Pivotal to the adoption of electronic payments in Germany has been the role played by its central bank, the Deutsche Bundesbank (DB), which itself offers services in the field of payments and processing
Ireland takes a step in the right direction
Delivering his national budget in October, Irelands minister of finance Brian Lenihan announced significant steps aimed at eroding the dominant position cheques and cash retain in the countrys payments system The most significant step is a 50 percent cut in annual stamp duty on ATM and Laser cards (Irelands main debit card system) from 10 ($13.50) to 5 The cut follows a cut in stamp duty on ATM and Laser cards from 20 to 10 and a reduction from 40 to 30 on credit cards implemented in December 2007.
Winning the battle against cash
In a world where few countries have a clear picture of the migration from cash to electronic payments Australia is an exception Encouragingly, all indicators point towards electronic payments eroding cashs position in Australia, to an extent that a major upgrade of the countrys payment system is being mooted.
GSMA unveils bold mobile wallet plan
GSMA unveils bold mobile wallet plan In a move aimed at fast-tracking its Pay-Buy-Mobile initiative, mobile network industry body the GSM Association (GSMA) has called for all new mobile devices to be equipped with near-field communication (NFC) contactless payments functionality from mid-2009. From a technology perspective the GSMAs call would require manufacturers to adopt the single-wire protocol (SWP) standard to provide the interface between the universal integrated circuit card which incorporates three key applications including the SIM card and the embedded NFC chipset in the handset
NCR and Diebold hold up well
MAnufacturers of ATMs and other payments automation equipment are weathering the global financial turmoil well, as solid third quarter 2008 results from major market players NCR and Diebold indicate.
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Making TV ad-spend work a little harder
UK advertisers spent almost £3.3 billion ($5.1 billion) marketing products and services on TV in 2008, estimates media investment management company GroupM Translating more of those billions into sales is the key objective of VoicePay TV, a payments processing service launched by Voice Commerce Group (VCG) VoicePay TV is in extension of VoicePay a phone-based voice authentication solution launched in early-2007 by VCG, a company founded by online payments pioneer Nick Ogden.
Another big win for Obopay
US payments processor Fidelity National Information Services (FIS) has entered the mobile race with the launch of a person-to-person (P2P) mobile money transfer service for financial institutions using its core processing services The move marks the first entry of a core processing services provider into the mobile payments arena and for FIS alliance partner in the venture, US mobile technology developer Obopay, represents another major milestone. The alliance brings with it the potential to offer a branded mobile payments service to FIS substantial client base which includes 40 of the 50 top global banks and totals 13,000 financial institutions in more than 80 countries.
Zimbabwe’s remittance lifeline
How does an economy in which the annual inflation rate is 2 million percent and rising, and 90 percent of the population is without formal employment keep going The country is, of course, Zimbabwe and the answer is the lifeline offered by international remittances into the country.
eBay’s Australian PayPal-only plan runs into stiff opposition
A proposal by eBay that its PayPal unit would become the sole avenue of payments for purchases on its Australian website met stiff opposition from the Australian Bankers Association, the Reserve Bank of Australia and rivals such as internet payments specialist Paymate A proposal by eBay that its PayPal unit would become the sole avenue of payments for purchases on its Australian website met stiff opposition from the Australian Bankers Association, the Reserve Bank of Australia and rivals such as internet payments specialist Paymate
No end to criminal ingenuity
Used by banks and credit card companies in the UK, the Address Verification System (AVS) is designed to protect retailers and consumers from credit card fraud Used by banks and credit card companies in the UK, the Address Verification System (AVS) is designed to protect retailers and consumers from credit card fraud. However, what would appear to be a simple yet effective security feature is being exploited by criminals to steal goods from online retailers, an analyst at card fraud protection specialist 3rd Man has discovered while monitoring daily card transactions for a retailer client.