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A New EU directive coming will make it illegal to surcharge for Debit and Credit cards. In the UK the government has extended this to include American Express and PayPal. In 2010 alone consumers spent £473m on such charges, according to estimates by the UK Treasury. A side affect though of his new directive is that loads [...]
The post EU prepaid wallets and cards may need to change fees appeared first on Payments Cards & Mobile.
Credit cards continued to gain share against all other forms of payment in the US in 2015 according to the The Nilson Report, after measuring 11 methods of consumer payments in the US. “Our model measures the payment instruments consumers use to make Personal Consumption Expenditures calculated by the US Bureau of Economic Analysis,” explains David Robertson, publisher [...]
The post US payments: credit cards continue dominance over debit cards and cash appeared first on Payments Cards & Mobile.
Prepaid cards are witnessing a fast rise in popularity, with the global market expected to grow to $535bn by 2020. What was once seen predominantly as a tool for promoting financial inclusion among the unbanked and underbanked population, has now evolved to a payment method that delivers convenience and security to consumers across a wide [...]
The post Prepaid Cards: Opening up a new world of financial possibilities appeared first on Payments Cards & Mobile.
In an ill advised move, the European Commission is proposing expanding its anti-money-laundering rules to cover virtual currencies and prepaid cards, in a bid to fight terror financing and tax evasion as revealed in the Paris attacks and the Panama Papers disclosures. The proposals from the commission, the EU’s executive arm, also seek to strengthen oversight [...]
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According to a new report, prepaid cards in Italy increased from 19.4 million in 2009 to 45.5 million in 2013, with an expected further growth of 17,42%. It estimates that a total number of payment cards will increase from 57.2 million in 2014 to 108.7 million in 2018. The value of prepaid card transactions increased [...]