All articles by Louise Naughton
Louise Naughton
Visa Inc acquires Playspan
Visa Inc has acquired payment solutions provider PlaySpan in a deal worth $190m in a bid to extend its reach into digital and mobile commerce. PlaySpans Monetisation-as-a-Service payment platform handles transactions for digital goods in online games, digital media and social networks. This allows merchants to monetise their content using a suite if payment and commerce-related solutions in fraud and risk management, analytics, merchandising and global payment connectivity.
WorldPay hacker ‘fully admits guilt’
A member of the hacking ring responsible for the 2008 cyber-attack on WorldPay, a former payment processing division of the Royal Bank of Scotland, has been handed a five-year suspended sentence.According to Russian news agency RIA Novosti, Yeygeny Anikin pleaded guilty to the fraud charges, whereby $9.4m was stolen from more than 2,100 ATM terminals across 280 cities in a 12-hour window on the 8 November 2008.
HSBC joins Dubai Trade’s Rosoom
HSBC is set to join forces with the online portal and trade facilitator of Dubai World, offering its Direct Debit services to Dubai Trade customers through the centralised e-payment gateway Rosoom.According to Middle Eastern website ameinfo.com, the agreement will allow Dubais trade community access to their HSBC accounts online and give them the ability to carry out transactions with terminal operators DP World, Jafza and DMCC.
Spil Games selects Adyen’s payment platform
Online social gaming platform Spil Games has selected e-commerce solutions provider Adyens payment platform to break into emerging markets such as Latin America. With a network of online social gaming platforms tailored to girls, teens and families offered in up to 19 different languages, Spil Games has voiced its desire to partner an internet payment service provider with the capability to adapt to the specific requirements of local markets around the world and the flexibility to support multiple payment methods.
Q & A: Jens Bader
Online payment method paysafecard has never been shy in expanding its presence into new markets across the globe. Although its orgins are firmly routed in Europe, recent years has seen the company look increasingly to markets such as the US and Latin America. Jens Bader, paysafecard’s newly appointed chief commercial officer, speaks to EPI and explains why a refocus into Europe is just what the company needs.
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Telcos turn up the heat in the m-payments race
More mobile phone operators are throwing down the gauntlet to alternative payment providers, revealing plans to rival players such as PayPal and Google Checkout.According to the Financial Times, customers of three of Frances mobile phone operators Orange, Bouygues Telecom and SFR will be able to pay for goods and services via an online payments service, Buyster. The service is expected to launch during the middle of 2011 and works by linking a mobile phone number to a bank card.
MasterCard, airtel Africa and Stan Chart join forces
The unbanked population of Africa are set to leapfrog traditional payment methods as the worlds first virtual card located on a mobile phone will soon become available in Kenya.The Airtel 1time Shopping Card is a collaborative effort between mobile phone operator airtel Africa, Standard Chartered Bank and MasterCard Worldwide. The service will have its initial launch in Kenya, although no time-specific information has been released, and then be rolled-out across Africa, subject to regulatory approvals.
MoneyGram extends remittance in Mexico
Money transfer company MoneyGram has extended its remittance relationship with Visa, allowing US consumers to send funds directly to Visa account holders in Mexico. The programme is built from MoneyGrams cash-to-Visa service in Guatemala and allows consumers to visit any of the 35,000 MoneyGram locations in the US to send funds to eligible Visa accounts in Mexico.
Ixaris automates corporate purchasing
E-payments solutions provider Ixaris has developed Opn Card Guardian, a payment application designed to automate the corporate purchasing functionality process through one-time-use virtual Visa cards.It is claimed that, upon using the solution, developers and businesses can integrate corporate purchasing functionalities into third-party procurement systems without having to partner with a financial institution or card processors for the first time.
For real: virtual currency is on the way
Virtual currency used to be associated only with online games, but recent studies have found its use could reach $5bn a year. And with Facebook rumoured to be looking at ways of translating its virtual credits to the real world, the payments industry is keeping a close eye on developments. Louise Naughton reports.It is hard to imagine handing over hard-earned cash for something that does not exist. But for an increasing segment of the population, this type of “virtual” purchase is commonplace and is part of an online world that is growing rapidly.For those not accustomed to the virtual world, or those that do not want to know of its workings and operations, it would be easy to dismiss these online communities as a flash in the pan; doomed to die out once something else comes along to entertain and titillate those virtual dwellers.