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US banks turn to prepaid to recoup lost interchange revenue
The Durbin Amendment is already causing a shift in strategy among US banks with an increasing emphasis on prepaid cards expected and JPMorgan Chase announcing a steer away from debit.
Amex and Cathay Pacific airline launch corporate card
American Express (Amex) and Cathay Pacific, a Hong-Kong based airline, have joined forces to launch a co-branded corporate card offering both companies and their employees Asia Miles.
OCBC Bank launches customisable debit card in Singapore
The Oversea-Chinese Banking Corporation (OCBC Bank), in partnership with MasterCard, has launched the OCBC Business Card, a platinum debit card that can be customised and branded by businesses.
Contactless technology launched in Australia
Visa and MasterCard have brought contactless technology down under for the first time teaming up with fast food outlet McDonalds and retailer 7-Eleven respectively.
G&D's contactless cards hit 50m in US
Contactless payment cards supplied by payment technology provider Giesecke & Devrient (G&D) have become the first to hit the 50 million unit milestone in the US.
UK spending slows in the run-up to Xmas - Visa
With seven weeks to go it seems UK consumers are yet to get into the Christmas spirit as Visa reports a 0.3% dip in total spending across all Visa products when compared to the same point last year.
Co-op Bank offers public sector prepaid cards
UK-based Co-operative Bank has partnered with prepaid card provider Advanced Prepaid Solutions (APS) to offer prepaid card services for public sector organisations.
Korea connects to global network
The Korea Financial Telecommunications and Clearings Institute (KFTC) is upgrading its ATM systems in order to connect to the global ATM network, ensuring that Korean cardholders can make use of ATM machines around the world without restriction or additional commission charges.
Celebrity-hyped' prepaid card falls short
Teen fans are warned not to be blinded by the celebrity status of US reality TV stars, the Kardashian sisters, as hidden fees reveal their prepaid card to be less than glamorous.
Sberbank becomes first Amex issuer in Russia
Sberbank will become the first American Express (Amex) card-issuing partner in Russia in a bid to appeal to the countrys elite.
Amex signs deal with China UnionPay
American Express (Amex) has told Bloomberg a Memorandum of Understanding (MoU) with Chinas bankcard association UnionPay may lead to Amex processing more transactions on its global network According to an Amex statement, the MoU will bring the issuer together with UnionPay to explore the expansion of their current co-operative activities. The current partnership allows Amex cards to run on China UnionPays network, but both companies will now look to work together to develop new areas of co-operation within China and in markets outside of China.
Contactless is key at CARTES 2010
A glance at the programme for the forthcoming CARTES & Identification trade show 2010 shows that contactless technology is ready to revolutionise the world of cards and payments. The show which brings together more than a dozen individual conferences and a huge exhibition in a single location will feature speakers covering every aspect of payment processing technology, but it is the development of contactless that is likely to be the central talking point.
Banco Popular launches credit card rewards scheme
Financial services group Banco Popular North America (BPNA) is set to launch its MasterCard Platinum XTRA credit card with an enhanced rewards scheme, claimed to impose no restrictions on purchases.
EAPS payments grow by 150% in Q3 2010
The Euro Alliance of Payment Schemes (EAPS) has reported its Q3 2010 payment data, showing transaction volumes to have rocketed by 150% when compared to figures from the same period in 2009.
Canada's Tim Hortons to accept Interac debit
Canadian coffee and doughnut chain Tim Hortons will begin a nationwide roll-out of Interac debit cards after fears of a slowing-down of transactions through e-payments were allayed by rigorous piloting.
German credit cards shall go to the ball
As credit cards emerge as the most popular payment method in German e-commerce it is believed a Cinderella label can finally be shaken off as they are allowed to step into the limelight.
G&D launches interactive cards
Payment technology provider Giesecke & Devrient (G&D) has launched interactive cards to combat security fears in online banking.
Brazil slashes payment card fees
Brazils Monetary Council has slashed the number of issuance fees on credit cards from more than 80 to just five.
UK's Havering Council partners with Citi on prepaid
The London Borough of Havering is set to more than halve existing processing costs by issuing Citis prepaid cards for its benefits schemes.
Visa report shows fragile EU recovery
EU consumer spending across Visa products grew by 1.2% in Q3 2010 compared to the same point last year but figures show a fragile European recovery from recession.The Visa Europe EU Consumer Spending Report, produced in conjunction with advisory firm Markit, shows consumer spending rose to 242bn ($317.3bn) from 202bn in Q3 2009. This 19.6% growth is unadjusted for card issuance, payment preference and inflation. Visa claims this figure signals the increasing preference amongst European consumers for card use, particularly debit cards.
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