All articles by Louise Naughton
Louise Naughton
TSC reopens cheque inquiry
The UK governments Treasury Select Committee (TSC) is set to reopen its inquiry on the future of cheques after receiving a flurry of letters from the public concerned about the 2018 phasing out of the paper payment type. The Committee launched an investigation in February 2010 and took evidence from a range of organisations, including the UK Payments Council.
ECB responds to EC’s SEPA end-dates proposal
The European Central Bank (ECB) has warned the European Commission (EC) the Single European Payments Area (SEPA) initiative faces a serious risk of failure if it does not impose end-dates for migration to the standards. In a formal response to the ECs SEPA regulation proposal the ECB claims although the benefits of the SEPA project are substantial, the primarily market-driven approach currently used cannot be characterised as being entirely successful.
LatAm’s Quepasa teams up with Tutudo
Latin Americas online social network and gaming platform Quepasa has joined forces with eWallet and processing platforms provider Tutudo to further monetise its digital content.The Tutudo eWallet solution enables customers to purchase game currency credits through a network of 70,000 points-of-sale in Brazil, including newsstands and Internet cafes.
Study reveals slow US Direct Deposit take-up
Two thirds of US small businesses do not offer Direct Deposits to their employees, believing they are too small to justify the perceived expensive costs associated with the payment service.According to a study by US Electronic Payments Association NACHA and banking and payments technology provider FIS research division eCom Advisors, over 3 million companies are still issuing payroll by cheques and 18 million employees still do not have the option to be paid electronically.
Broadridge sets its sights on Japan
Technology services company Broadridge Financial Solutions has announced a software purchase agreement with Japans Mitsui Knowledge Industry (MKI) in a bid to increase its processing abilities.Under the agreement, Broadridge has acquired all intellectual property rights of MKIs B-Fund solution. The technology provides connectivity and associated processing for Japanese government bonds and Japanese yen payments that are cleared and settled through the Bank of Japans BOJ-Net system.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
Western Union offers last-minute payments
Online financial services company Online Resources has teamed up with payment services provider Western Union to facilitate last-minute bill payments.Under the agreement, it is claimed the options available to consumers who wish to make last-minute payments to billers through the websites of more than 500 financial institutions will be significantly enhanced.
OBePs tackle transaction trust issues
Lack of trust between consumers and foreign merchants is part of the reason why cross-border transactions have continued to grow at such a sluggish pace. If the European Commissions Digital Agenda targets are to be met, Online Banking enabled Payment networks may have the solution to the problem, writes Louise Naughton.
CyberSource launches real-time fraud detection
Payments management company Cybersource has developed Decision Manager – a real-time fraud detection radar for online merchants.The wholly-owned subsidiary of Visa claims the solution is a world-first for fraud detection and prevention and enables merchants to conduct more accurate analyses of their inbound orders.
NetOne and Gemato team up on mobile money
Zimbabwes mobile network operator NetOne has teamed up with digital security provider Gemalto to offer its unbanked customers a mobile money transfer service – OneWallet. The OneWallet service allows NetOne subscribers to make P2P payments, pay bills and top-up prepaid phone cards. In a bid to empower the unbanked the platform will also allow users to have their salaries paid directly onto their mobile phones.
India’s IDBI Bank enhances link with Fundtech
Indias IDBI Bank has strengthened its relationship with transaction banking solutions provider Fundtech in a bid to compete on a global scale by deploying the payments and receivables module of Global CASHplus – Fundtechs cash management and financial supply chain product.Through the enhanced partnership IDBIs corporate clients will have access to advanced cash flow planning and working capital optimisation applications.