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Archive for: March, 2008

Paul Penrose - Finextra - London | 31/03/2008 | 3264 views

European exchanges had best get ready for another round of fierce price cutting following the announcement by the US-based Bats ECN that it is to set up an operation in London. The Bats ECN launched in the US two years ago and now claims an 8-10% market share in US equities. Much of its success stemmed from an agressive pricing plan introduced in J... Tags: Trade execution, Wholesale bankingGroup: Finextra50 fintech index

Paul Penrose - Finextra - London | 31/03/2008 | 2833 views

PCI compliance fails to prevent Hannaford hacking

The Hannaford card security breach is a worrying development for the payment card industry. The exploit - which would appear to be an inside job - exposes weaknesses in the PCI compliance standards explicitly and expensively promoted by the card companies as a solution to restoring consumer confidence in payment card security.Unlike TJX, Hannaford ... Tags: Security, PaymentsGroup: Trends in Financial Services

Paul Penrose - Finextra - London | 31/03/2008 | 3910 views | 3 comments

Citi's bank-branded mobile handset

From the public filings of the US Federal Communications Commission - a mobile phone manufactured by Mobicom but branded by Citibank. The phone has no numeric keypad but instead uses basic navigation buttons to interact with onscreen menus. Features include an MP3 player, speakerphone, PIN entry and NFC technology for making credit card payments.Ci... Tags: Payments, Retail bankingGroup: Futuristic Banking

Paul Penrose - Finextra - London | 26/03/2008 | 3753 views

Retailers count the cost of interchange

The European Retail Round Table has warmly welcomed the announcement of the European Commission that it is opening competition proceedings against Visa in relation to its multilateral interchange fees (MIF) for cross-border point of sale transactions. The lobby group, which represents 15 of Europe's largest retailers, is urging the Commission t... Tags: Cards, PaymentsGroup: EBAday

Paul Penrose - Finextra - London | 26/03/2008 | 2834 views

First contact for contactless payments

Sandwich chain EAT has become the first UK retailer to go live with an integrated contactless point of sale terminal. The upgraded Chip and PIN terminal has been installed at EAT’s Moorgate branch and enables the retailer to select the method of payment that customers want to use – either cash, Chip and PIN or contactless. Over the com... Tags: Cards, Retail bankingGroup: Trends in Financial Services