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European privacy regulation moves forward
The payments industry is no stranger to the increasing reach of regulation. With the EU Regulation on interchange fees for card-based payment transactions coming into force earlier this year, together with near-term final approval of the EU’s revised Directive on Payment Services (PSD2), what was once a lightly regulated industry is decidedly no longer so. New regulatory impacts [...]
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Growth in card fraud outstrips sales growth
Fraud losses are at record levels worldwide. Card fraud worldwide grew 19 percent last year compared to card sales which grew only 15%, according to figures released by the Nilson Report. Global card fraud losses topped $16.3 billion in 2014 against global sales of $28.8 trillion. Fraudulent sales accounted for 5.65 cents in every $100 [...]
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Counting the costs of cybercrime
The recent publication of cybercrime statistics by the Bundeskriminalamt (BKA), the German Federal Criminal Office, raises almost as many questions as it answers. As with any official cybercrime statistics, perhaps they should be regarded as best endeavours in an imperfect world. The BKA registered almost 50,000 cybercrime offences equating to a total loss of €39.4 [...]
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Electronic payments grow faster than GDP across all regions
Non-cash payment volumes are expected to continue to grow strongly in 2014, according to the World Payments Report 2015 from Capgemini/Royal Bank of Scotland. Volumes are projected to grow at a rate of 8.9% to reach a record high of 389.7 billion transactions, spurred by economic recovery in mature markets, expansion in China and the [...]
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Worldwide Smartphone shipments surpass 1.4 billion in 2015
A strong holiday quarter boosted worldwide smartphone shipments to new record levels thanks to robust product offerings at numerous price points in both mature and emerging markets. According to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, smartphone vendors shipped a total of 399.5 million units during the fourth quarter of [...]
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