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Market Overview: Payments in Russia
On the centenary of the Russian Revolution, we examine payments in the world’s largest country. How do Russians pay today? And given the state bank dynamic, a new domestic card scheme and an internet-connected, tech-savvy population, what does the future hold for payments in Russia? Russia covers 13 percent of the world’s surface, spans eleven time [...]
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BoE allows UK’s non-bank PSPs to gain access to RTGS accounts
The Bank of England has extended direct access to Real Time Gross Settlement (RTGS) accounts to non-bank payment service providers as part of a wide-ranging effort to inject more competition and innovation into the UK’s payments systems. The widely-trailed move is expected to open up a competitive space which has long been the preserve of [...]
The post BoE allows UK’s non-bank PSPs to gain access to RTGS accounts appeared first on Payments Cards & Mobile.
Creating an integrated European market for Payment Initiation Services
The revised Payment Services Directive (PSD2) was adopted with payment innovation and safety to the fore. One of its purposes is to regulate at the European Union (EU) level practices and players currently unregulated in the EU. Among other things, PSD2 regulates the role of Payment Initiation Services (PIS) providers (PISPs). PISPs facilitate the use of online banking to [...]
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Wearable tech: A growing payment opportunity
From watches, wristbands and jewellery to glasses and clothing, the popularity of wearable technology is booming, and so is wearable tech as growing payment opportunity. Despite a relatively slow start, industry analysts estimate that 48 million wearable tech units were shipped in 2016. And, according to data from IDC, fitness bands topped the best sellers list, [...]
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An update on the implementation of the SEPA Instant Credit Transfer scheme
In less than five months, the EPC’s SEPA Instant Credit Transfer (SCT Inst) scheme will be operational. The implementation of this new and optional scheme – the exact starting date of which is 21 November 2017 – is a hot topic within the European payment community. It is also a challenging one, as the published the rulebook in [...]
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