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Russian e-commerce market hits new highs to reach €16 billion
The Russian e-commerce was worth €14.85 billion in 2016, an increase of 20% when compared to 2015, and is expected to rise rapidly to reach €16.14 billion at the end of 2017. These findings come from a study conducted by the Association of Online Retail Companies (AKIT), which shows that Russian consumers increasingly prefer foreign [...]
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PSD2 and its impact: Changing Europe’s banks for the better
Banking has always been a very conservative industry. If liquidity drops too low, entire markets can grind to a halt. Open yourself up too much and you become susceptible to fraud and theft. Striking the perfect balance is difficult. In every economy, one of the government’s primary concerns is securing a steady flow of money [...]
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New UK cheque clearing system to be rolled out
The UK is set to roll-out an image-based cheque clearing system from 30 October 2017. The Cheque and Credit Clearing Company have announced that waiting for five to six working days to get money through your accounts will be cut down to just one day. Initially, only a few banks and building societies will be able [...]
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How can API standardisation be achieved in the context of PSD2?
In less than a year the revised Payment Services Directive (PSD2) will be implemented in European Union (EU) Member States, and the acronym ‘API’ is on the minds of Payment Service Provider (PSP) professionals. Application Programming Interfaces (APIs) are considered key to the implementation of PSD2, the main goal of which is to create a [...]
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Google adds P2P payments to Gmail Android app
Google is to revisit history going back back to P2P payments, adding the feature to its Gmail Android app that allows sending friends funds by attaching a file to an email. Google first began letting US users send and receive money through Gmail on desktop back in 2013 but is only now bringing the feature to the Android [...]
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