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FTC investigates PayPal’s Venmo
PayPal’s P2P payment service Venmo is under investigation by the Federal Trade Commission. PayPal has acknowledged the situation in an SEC filing: “On March 28th, 2016, we received a Civil Investigative Demand (CID) from the Federal Trade Commission as part of its investigation to determine whether we, through our Venmo service, have been or are engaged in deceptive [...]
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Alternative payments impact South Africa’s payments market
Alternative payments are gaining traction in South Africa, with banks and payment companies introducing new solutions. Recent initiatives include the launch of MasterPass, Zapper, FlickPay and SnapScan. The MasterPass digital wallet was introduced in association with Standard Bank in July 2014. Users can shop online without disclosing payment and shipping information with every purchase. Zapper, [...]
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India’s Unified Payments Interface (UPI) goes live
A project from National Payments Corporation of India (NPCI), The Unified Payments Interface (UPI), goes live today, April 11. UPI is expected to bring about a significant shift in the way mobile banking transactions are conducted in India by allowing users to make payments using mobile phones as the primary device without the need to download [...]
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Cross border B2B payments – Today’s landscape
Saxo Payments launched a white paper revealing the results of exclusive research into the cross border payments industry. Those surveyed included issuers, acquirers and PSPs as well as merchants, for a rounded view of the market, covering issues such as speed of money transfer, fees for international payments, and FX rates. The survey reveals that [...]
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Chase Bank Kenya rolls out aggressive African strategy with OpenWay
Chase Bank Kenya, an innovative and fast-growing bank with an ambitious strategy across Africa, has successfully migrated its full card portfolio to the OpenWay WAY4 payment software platform from Electra Card System. The new card management system enables Chase Bank Kenya to grow its cards business by integrating omni-channel capabilities and enhancing fraud management systems. [...]
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