MasterCard says a forthcoming wholesale upgrade of the 3DSecure protocol for authenticating online transactions will pave the way for the introduction of more secure biometric and token-based prompts and the ultimate eradication of static passwords.
U.S. Bank is expanding its card-based and cardless corporate payment solutions to Europe. In partnership with Visa, the bank will be the first in Europe to offer Visa Payables Automation, Visa’s paperless electronic payment service that replaces checks, eliminates tedious processing work and can improve an organization’s cash flow by extending credit by more than seven weeks. The bank will also begin offering corporate purchasing cards in Europe.
Visa and MasterCard have finally caved in to pressure from Canadian competition authorities and agreed to set a 1.5% ceiling on interchange rates in the country for the next five years.
Two of the world's biggest financial services firms, Visa and Citi, have promised to ditch their insular approach and open up their platforms to partners.
Visa is to open a new technology centre in Bangalore, India, next year with the aim of recruiting 1000 staff to work on APIs and software development kits by 2017.
China is finally preparing to put an end to China UnionPay's monopoly on clearing bank card transactions in a move that could open up a huge market to Visa and MasterCard.
Visa Inc. (NYSE:V) today announced financial results for the Company's fiscal fourth quarter and full-year 2014. GAAP net income in the fiscal fourth quarter of 2014 was $1.1 billion or $1.72 per share, a decrease of 10% and 7% over the prior year, respectively.
Visa Europe is pleased to announce that V.me by Visa is now in pilot with Member banks in Norway, Sweden, Italy and Germany, taking the number of markets live or in pilot across Europe to nine.
Nearly half of US merchant terminals will accept EMV chip card payments by the end of next year, according to a trade body set up to push the migration from magstripe plastic.
The UK government is planning to put supervision of MasterCard and Visa alongside the country's main interbank payment systems into the hands of a new Payment Systems Regulator (PSR), whose chief remit is to inject more competition into the country's payments industry.
© Finextra Research 2014