Will the Interchange Cap on Consumer Cards Boost Commercial Cards?

Commercial cards, consisting of Business, Corporate, Purchasing and fuel cards, benefit businesses by controlling expenditure and reducing cash handling costs. Nevertheless, according to RBR’s new study Commercial Cards in Europe 2015, in many countries the sector is still not well established, and represents a major, unexploited opportunity for banks. Looking ahead, the issuance of commercial

FIME, Keysight Technologies Announce World’s First Test Tool to Achieve Complete EMV L1 Qualification

FIME and Keysight Technologies, Inc. announced that the EMVCo global technical body has formally qualified the Keysight and FIME test tool for EMV Level 1 certification of terminals, cards and mobile devices. Fully qualified coverage is now uniquely supported with the Keysight T1141A Test Set. Developers can use just one test system to accelerate comprehensive

UnionPay International Cooperates with “SBM” in Mauritius to Expand the Acceptance Scope of UnionPay Cards

UnionPay International and SBM jointly declared that all merchants and ATMs of the latter have been opened to accept UnionPay cards (card number starting with 62). So far, the coverage of local merchants and ATMs accepting UnionPay cards has been increased to 90% and 60% respectively. It also means that UnionPay International has realized its

HPS Announces Global Partnership with Gemalto for Tokenization

HPS, the market-leading provider of mission-critical solutions to the cards and payments industry, has announced a new global partnership with Gemalto, the world leader in digital security. Tokenization is the process by which payment account information is replaced by an alternate value called a token. Issuers, Merchants and Processors who use tokens are able to

EMVCo Reports 3.4 Billion EMV Chip Payment Cards in Global Circulation

Official figures for Q4 2014 released by the global technical body EMVCo show that significant advances are being made globally in the adoption of EMV chip technology. By the end of last year, the number of EMV payment cards in circulation rose by 1 billion, up 43%, to 3.4 billion, from 2.37 billion in Q4

MasterCard Works with Samsung to Deliver Samsung Pay

Samsung Electronics Co., Ltd, a leading global technology company, has unveiled Samsung Pay, a mobile payment service that will enable MasterCard cardholders to use their Samsung Galaxy S6 for everyday in-store purchases.As consumers increasingly trade cash to use their cards through connected devices, Samsung is enabling a wider audience to take advantage of digital commerce.

Airtel Unveils NFC Payment Service in Tanzania

Airtel Tanzania has unveiled a Near Field Communication (NFC) payment service, that enables holders of Airtel Money accounts settle bills using their cards. Airtel Money Director, Mr Aijaz Khan, said “technology is dynamic. It is key to keep up with emerging global trends by introducing innovative services that will suit the ever growing customer demands.

GlobalCollect and UnionPay International Announce Worldwide Acquiring Partnership

GlobalCollect, an Ingenico Group company, and UnionPay International, a subsidiary of the fast growing global payment network China UnionPay, unveiled a worldwide partnership that sees GlobalCollect become a worldwide acquirer for the UnionPay network. UnionPay is the number one international card brand in the world measured by the number of cards issued. With the agreement,

MasterCard Nearby Launched as the Essential Companion App for Apple Pay Users

Consumers around the United States are loading credit and debit cards from Bank of America, Capital One, Citi and Wells Fargo onto their iPhone 6 and iPhone 6 Plus for use with Apple Pay. One of the first questions being asked is, “Where can I use it?” MasterCard has the answer – MasterCard Nearby. Available

Global Financial Cards Circulation Reaches 25.1 Billion in 2014

Market research company Euromonitor International released new global data on the consumer finance industry. According to the data, 25.1 billion financial cards are currently in circulation globally with USD$56.7 billion dollars in transactions occurring in 2014. The US accounts for 3.4 billion cards and USD$10.1 billion in transactions. Emerging markets such as China and Brazil