Read more from our PayX analysts from Day 2 of Innovation Project 2016 Fireside chat with Charlie Scharf – CEO – Visa • The kinds of services they’ve delivered for many years to Issuers, they now need to direct their attention to merchants and do a better job by working with these one by…
Recently, three of the world’s biggest financial services firms—Mastercard, Visa and Citi—have promised to ditch their insular approach and open up their platforms to partners. APIs in Payments has become the forefront of Bank strategies to not only retain but grow market share, grow traction and loyalty, and get back to a value-add growth path…
Our regular round up of the latest news in the Payments Industry. If you would like to receive our newsletter straight to your inbox, you can subscribe here Top Stories Visa and MasterCard Support Common Solutions to Enable U.S. Chip Debit Routing North American financial institutions will spend $73.8 billion on IT in…
My kids gave me a new Union Jack wallet for Christmas, forcing me to answer the question in Capital One’s old adverts, “What’s in your wallet?” Capital One credit card (the advert worked!), personal debit card, business debit card, supermarket credit card, 2nd debit card, supermarket loyalty card, petrol loyalty card, 2nd supermarket loyalty card,…
If the recent article published on the Pymnts web site is accepted then it seems that Visa may be considering an exit strategy from Hungary in the face of substantial, and continuing, market share loss to MasterCard. According to the article, and cross referenced pieces, Visa’s problems stem from a commitment made to the EC…
It is becoming increasingly obvious to me that the Global and Regional card payment processing organisations have their sights set, if not on world or territorial domination, certainly on ever increasing size and scale. Where organic growth fails to deliver to aspirations, smaller operations are routinely acquired. Assuming this trend continues, and there is nothing…
Both of the international card schemes Visa and MasterCard, include in their impressive array of member fee tariffs an assessment fee for Issuers that breach a percentage threshold of authorisation referral responses to authorisation requests received. The percentage is 0.5% but that is incidental. Both card schemes are, of course, fiercely protective of their brand…
New products, new channels, massive technological change and all bundled up into two major releases each year by the card schemes, well, as it says in each closing episode of Frasier – ‘What is a boy to do’ Put simply, the ambition to keep interchange fee structures as simple as possible is under constant challenge…
Square payments – a device that plugs into an iPhone or iPad and turns it into a credit card terminal. Today this brainchild of Jack Dorsey’s is worth $3.25 billion having raised another $200 million in its fourth round of funding. To put that in to perspective Square is worth more than Hiscox ($3.1bn) the…
The UK is seeing something of a boom in mobile payments of late. Recently Barclays launched its Pingit smartphone app that lets UK users transfer up to £750 a day to family, friends and small businesses. With nearly half a million downloads its success surprised many and perhaps points the way for others with is…