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Bank of England develop blueprint to facelift UK payments system
The Bank of England is set to develop a blueprint for the modernisation of the UK payments system. The document will highlight the changes from a 20-year old real-time gross settlement system to the changing payment habits and the emergence of distributed ledger technology. In a speech to payment stakeholders, Minouche Shafik, deputy governor for markets and banking, says [...]
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The changing payments landscape
It was only a few years ago that banks owned the financial sector – the only way to pay, transfer and save money was via a traditional bank. The supremacy of the banks was maintained principally due to the fact the industry was highly regulated and therefore an exclusive club of licence holders. As such, [...]
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TSYS to acquire TransFirst for $2.35 billion
TSYS announced it has entered into a definitive agreement with Vista Equity Partners to acquire TransFirst, a Vista portfolio company and leading US merchant solutions provider, in an all-cash transaction valued at approximately $2.35 billion. TransFirst delivers merchant solutions to more than 235,000 small and medium-sized businesses in the US through its proprietary technology, end-to-end customized [...]
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MasterCard introduces MasterCard Instalments
MasterCard has announced the upcoming launch of MasterCard Instalments, an innovative way to pay that offers consumers flexible and convenient access to funds when needed. With MasterCard Instalments, cardholders will be able to split transactions across equal monthly instalments using their existing debit, credit or commercial card at the time of purchase. This makes high-value purchases, [...]
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Global study shows increasing security risks to payment data
With acceptance of mobile and other new forms of payments expected to double in the next two years, a new global study shows a critical need for organisations to improve their payment data security practices. This is according to a recent survey of more than 3,700 IT security practitioners from more than a dozen major [...]
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