20 December 2014

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US community banks are calling for a crackdown on merchant security protocols after reissuing nearly 7.5 million credit and debit cards at a total cost of more than $90 million as a result of the Home Depot data breach.

Apple Pay has the ability to significantly transform the mobile payment space says ITG Research, on the release of figures which show that iPhone users were responsible for one percent of digital payment dollars spent in the month of November.

With the price of bitcoin continuing to crater, Silicon Valley-based crypto-mining outfit PeerNova has raised $8.6 million in funding to refocus its business on blockchain-based enterprise products.

The UK's Payments Council has committed to explore options for incorporating richer data sets alongside business and consumer electronic payment transactions.

British consumers are increasingly prepared to switch banks to access mobile payments, as anticipation for new ways to pay builds, according to new research from mobile payments company Zapp.

Royal Bank of Canada has implemented Host Card Emulation for its mobile banking app, enabling customers to pay with most Android mobile phones without worrying about being on the right mobile network or having the right SIM card.

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Consolidation among domestic vendors of core banking products in North America has created a rare opportunity for international players such as Temenos, Infosys, and TCS to establish a toehold in a market forecast to be worth $3.3 billion by 2017, according to a report by Celent.

Retail banking

EU agrees interchange reforms

18 December 2014  |  12

The fees that banks charge retailers to process shoppers’ payments should be capped under uniform rules across the EU following a deal struck by Economic and Monetary Affairs Committee and EU Council negotiators.

Apple claims that banks representing up to 90% of credit purchase volume in the US are now signed up to its Apple Pay product.

Cards

Toronto subway gets card payment option

17 December 2014  |  0

From next month, Toronto's commuters will finally be able to pay for subway journeys with their debit and credit cards, although contactless payments on the city's antiquated public transport network are still some way off.

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