Earthport, the cross-border payments service provider has announced that IFC, a member of the World Bank Group, has agreed to invest $10 million in the company. The funding will be used to expand Earthport’s presence and payments service infrastructure, particularly in developing countries. Through this investment, Earthport also becomes part of IFC’s extensive network which
A combination of open and closed loop pre-paid payment cards in both the government and enterprise sectors will result in cumulative shipments totalling 3.6 billion between 2013 and 2018. ABI Research forecasts that 53% of 2018 shipments will be smart card enabled, up from 24% in 2013. The sharp rise is driven by an increasing
Kalixa Group today announced that it has been selected by MasterCard® to issue a version of its award winning Kalixa Pay prepaid card to every newly accredited acquirer for testing. The card enables live testing of MasterCard acceptance – including online and PayPass™ transactions – to ensure a simple, seamless and secure integration process for
Square announced Square Stand, new hardware for brick and mortar businesses that turns an iPad into a complete point of sale. With local businesses increasingly tearing out their old point of sale systems to run Square Register, Square Stand gives merchants a remarkable new way to manage and grow their business, all for the price
JPMorgan Chase announced that Mike Passilla has been named chief executive officer of Merchant Services. This newly created role will oversee Chase’s growing payments and merchant services business including Chase Paymentech, Chase’s merchant offers business, as well as Chase’s recently-announced merchant payments initiative. In 2012, Chase Paymentech processed 29.5 billion transactions with a value of
Ogone Payment Services, an Ingenico company, announced the new assignment of Peter de Caluwe as Executive Vice President e-payment taking care of the global e-payment strategy while remaining CEO of Ogone. Jurgen Verstraete, Ogone’s Chief Operating Officer (COO), will be taking up the role of Managing Director Ogone and lead the daily operational management, starting
Square has recently announced availability of its mobile POS offering in Japan. Square Register is a free app that serves as a free full point-of-sale system for businesses of all types and sizes from a mobile device. Over 4 million individuals and businesses can already accept credit cards with Square in North America, and Square
The CNP Expo is an annual event which addresses the challenges around card not present payments and is a meeting place for merchants, banks, processors, anti-fraud software providers, legal experts, alternative payment providers, card networks and others to learn how to leverage CNP payments in an increasingly multi-channel retail sales environment. At this year’s Expo, held in
The first EMV compliant ATM in the U.S. is live and in use. NCR Corporation has begun upgrading ATMs at People’s United Bank with the new consumer card security technology, in conjunction with Vantiv and Pendum, the nation’s largest independent ATM service provider. The first upgraded ATMs are the People’s United Bank ATMs located at
The REWE Group, a diversified trading, travel and tourism group with turnover of 50 billion euros, is always testing new ways to make its IT systems more energy-efficient. The most recent example is the deployment of extremely low-power POS terminals. Over the next three to four years, the group will collaborate with its IT solutions
