RBR | Card Spending Rises as COVID-19 Encourages New Spending Habits

The credit card sector was hit hard by COVID-19 lockdowns and the economic downturn, but increased spending on debit cards as consumers shunned cash drove overall growth in card expenditure Concerns about COVID-19 saw consumers turn to contactless New research shows that, despite a decline in the amount spent on credit card purchases last year

TNM Mpamba and Mastercard Empower Millions of Consumers in Malawi to Make In-person and Online Payments on Global Platforms

The partnership will see the introduction of Malawi’s first Mastercard debit card linked to a mobile money wallet The physical debit card will connect TNM Mpamba customers to a global marketplace, enabling them to use mobile money to make safe online and in-person payments on the Mastercard network Mastercard’s’ technology will deliver a seamless digital

Nigerian Digital Bank Carbon Signs with Network International to Boost Digital Payment Offering

Agreement to support greater financial inclusion among unbanked in Nigeria Pan-African fintech startup and digital bank Carbon Bank has partnered with Network International, the leading enabler of digital commerce across Africa and the Middle East, as part of its plan to boost its digital payment offering. Under the agreement, Network International will issue and process

Industry Feedback Drives Updates to PCI P2PE Standard

The PCI Security Standards Council (PCI SSC) published a minor revision to the PCI Point-to-Point Encryption (P2PE) Standard. The PCI P2PE Standard provides a comprehensive set of security requirements for the validation of PCI P2PE solutions to protect payment card data via encryption. PCI P2PE v3.1 includes clarifications and updates previously released via bulletins and

EMVCo Publishes EMV® 3-D Secure 2.3 to Support More Secure and Convenient E-Commerce Authentication

EMV® 3DS Version 2.3 expands support for digital channels and devices to help issuers, acquirers and merchants fight card-not-present fraud, while improving the consumer experience. Global technical body EMVCo has enhanced the EMV® 3-D Secure (3DS) Specifications to improve the consumer experience and fraud fighting capabilities for issuers, acquirers and merchants across e-commerce channels and devices. The latest version,

Mastercard Partners with Digital PayGo to Drive Secure Payments for SMEs in Zambia

SME-in-a-Box solution will enhance the Small and Medium Enterprise (SME) customer value proposition  and support the enablement of a digital-first approach for merchant mobile payments Partnership will drive secure electronic payments and digital transformation of SMEs, which represent 97% of all businesses in Zambia Mastercard has partnered with Zambian-based fintech company, Digital PayGo, to launch

OpenWay report | Buy Now, Pay Later — what’s your place in the consumer financing revolution?

Buy Now, Pay Later (BPNL) services are making headlines this year. Fintechs, big tech and merchants are forming new alliances to produce attractive financing options that are surging in popularity. How is this diffferent from instalment plans? How will this affect credit card companies and international payment schemes? Can you be sure that this is

Mastercard Welcomes NymCard as its Newest Network Enablement Partner

Mastercard has welcomed the banking-as-a-service (BaaS) provider and modern card issuing platform, NymCard, as the newest company to join its Network Enablement Partner program, providing it with the ability to deliver Issuances in record time. As a Network Enablement Partner, NymCard gets a direct connectivity with Mastercard, providing it with privileged access to Mastercard’s core

Mastercard Partners with Lulu Exchange to Enable Speedy and Secure Online Remittances

Lulu Exchange will be the first exchange house in the UAE to enable debit cards on its payments app LuLu Money Service will use multi-rail processing gateway MPGS (Mastercard Payment Gateway Services) to enable power, speed, and security of transactions Mastercard has entered a strategic partnership with Lulu Exchange to enable UAE consumers to carry

Mastercard Launches Strive: A Global Small Business Initiative to Accelerate Economic Recovery

Strive kicks off with initial commitment of $25 million in philanthropic funding to strengthen financial resilience and growth of small businesses globally   Micro and small enterprises are important contributors to job creation and global economic development, representing approximately 90% of business and more than 50% of employment worldwide. However, the pandemic necessitated a rapid shift