All articles by Louise Naughton
Louise Naughton
The FTC halts $10 million micro-payment scam
An international micro-payment scam conning consumers out of more than $10 million has been halted by the Federal Trade Commission (FTC).
Ukash launches in New Zealand
Online cash payments company Ukash has announced the launch of its vouchers in New Zealand after signing a deal with electronic payments processor epay.
PayPal to spur m-commerce in Singapore
PayPal has joined forces with government agency Infocomm Development Authority (IDA) to power the m-commerce infrastructure of Singapores Digital Concierge Programme. PayPal aims to accelerate the growth of m-commerce by enabling businesses and consumers to securely conduct transactions and make payments via their mobile devices such as the iPhone and Android devices. Regional head of mobile products for PayPal Asia Pacific Rahul Shinghal made a statement on the company website announcing the deal
Emirates NBD processing unit for sale
Emirates NBD has attracted a wealth of bids from private equity groups following the announcement that it is to sell its payment processing business Network International. According to a report in the Financial Times, the Dubai-based bank is seeking to sell a minority share in Network International, valued at $1bn to $1.5bn, in order to fund the companys growth and shore up its balance sheet Bidders include private equity houses TPG, Abraaj Capital, Silverlake and Emirates Investment Authority, the UAE’s sovereign wealth fund.
Ukash voucher products suspended in Brazil
Online cash payments company Ukashs strategy to further penetrate the Latin American market has had its twists and turns recently with a large-scale launch in Columbia marred by issuing partner eBizznet being forced to halt issuance of Ukash vouchers in Brazil due to technological difficulties. After partnering with local Brazilian banks and companies to soft-launch the availability of Ukash vouchers in Brazil, Patrick Guevens, managing director of eBizznet told EPI that its Brazilian partners technology was not up to the standards expected.
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Boom in mobile payments predicted in China
Technology developments are being cited as one of the triggers for the impending boom in Chinas mobile payment sector, as transaction values are set to increase 308 percent to 9.8 billion yuan in 2010, reports China Securities Journal.
JP Morgan promotes targeting middle ground
Leading global financial services firm JP Morgan has released a report encouraging businesses to target the large untapped middle ground field of transactions using electronic payment technology in order to improve working capital, increase visibility into cash management, and generate higher rebates on accounts payable (AP) spending.
Smart payment card shipments up 16 percent
The demand for increased security and convenience is fuelling the growth seen in smartcard shipments and mobile banking according to the Smart Payment Association (SPA) and mobile money network Monitise
Online satisfaction down at big five US banks
Smaller banks have outscored the big players in the US banking market according to a survey rating online customer satisfaction.
Level Four and GALITT move into Canada
As EMV migration continues to rise worldwide, Level Four and GALITT have expanded their joint testing solution for EMV compliant ATM networks from France to Canada. The partnership combines Level Fours ATM test solution, BRIDGE:test, with GALITTs KaNest-ICC EMV card simulator and aims to enable Canadian-based banks to benefit from the combination of best of breed solutions in their respective areas. EMV migration significantly increases the scope of testing required at the ATM as there is a much greater number of components interacting with each other, said Ian Kerr, CEO at Level Four