All articles by Sarah Fitzmaurice
Sarah Fitzmaurice
WiseKey brings m-banking to unbanked
US security and identity manager WiseKey has introduced WisePay, a mobile payment system for unbanked populations. WisePay offers a platform to enable anyone with a mobile phone to carry out transactions, even if they dont have a bank account The system, based on WiseKey technology, allows financial institutions, mobile operators, e-commerce and catalogue retailers to provide customers with universally trusted services through the most common and secure channels
Akamai and CyberSource launch tokenized payment service
US based IT software provider Akamai Technologies has teamed up with payment management provider CyberSource to launch a tokenized electronic payment security service.
Card fraud in US increases by 32% in H110
Card-not-present payment fraud increased by 32% in the US during the first half of 2010, according to a new report. The Retail Decisions (ReD) study shows the amount of fraudulent attempts to buy goods over the internet, by mail order and telephone using cards reached an estimated $1.14 billion from January to June 2010 Transaction volumes have also increased during the first half of the year with the average transaction value up by an estimated 34 percent compared with the same period last year, from $111 to an estimated $149.
QNB launches first m-payments in Qatar
Qatar National Bank (QNB) has launched mobile banking service eazypay, the first mobile-to-mobile payment system offered in Qatar Eazypay is a real-time payment system that allows retail customers to transfer funds to friends and family using their mobile phones Transactions are completed using a simple SMS text message allowing payment to any other QNB registered individual
SMEs remain dependent on cheque payments
Small and medium sized businesses (SMEs) remain highly dependent on cheques with 79 percent of the businesses using then to pay other organisations, a new study has found The research, conducted by Bacs, the business behind UK direct debits and Bacs direct debit, found that 76 percent of SMEs are still receiving payment by cheque. Cheque clearing facilities are due to be phased out by 2018 and a number of payment providers, including CHAPS and Faster Payments, are vying for businesses use their services as a replacement.
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First Data and SK C&C partner on m-payments
Processor First Data and South Koreas SK C&C has teamed up to bring mobile payment and banking technologies used in South Korea to US customers. SK C&C has provided mobile commerce services to the South Korean market one of the most advanced m-payments markets in the world since 2002 First Data and SK C&C will collaborate with financial institutions, retailers and mobile operators to provide services including mobile wallet and mobile banking to customers
Equens buys Commerz’s montrada unit
Equens has acquired Commerzbanks montrada business, a German card and network service provider. Montrada operates as an independent card-services enterprise offering a complete service package for cashless payments This ranges from consultancy to selecting the ideal payment method, to providing on-site terminal installations and customer support.
BNP Paribas launches ‘Payment Hub’ in Asia
Financial services group BNP Paribas has selected payment solutions provider Clear2Pays Open Payment Framework (OPF) to implement a single payments management Payment Hub in Asia.
MasterCard buys DataCash for £333m
MasterCard is set to acquire European payment service provider DataCash in a deal worth £333 million ($518 million). DataCash develops and provides outsourced electronic payments solutions, fraud prevention and alternative payment options MasterCard wants to acquire the business to drive growth of in the e-commerce section of its business.
M-banking SMSs to hit 90bn a year by 2015
Mobile banking service text messages will treble to 90 billion per year by 2015 if banking lenders utilise new message based services, according to a new study.