Processing & Systems RSS
BACS reaches 100 million payments a day
Over 103 million payments were processed in just one day at the end of July by BACS, the UK payment processing organisation. BACS has already achieved a number of transaction records this year, but reached this major milestone on 31 July – the equivalent of 6.65 million payments an hour, or nearly 111,000 every single [...]
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NatWest online banking crashes again
UK bank NatWest, part of the RBS group, has suffered another online banking crash which has affected thousands of users. The latest IT failure comes only six weeks after the bank suffered a crash that caused over 600,000 transactions and hundreds of thousands of pounds in payments to go missing. The bank’s IT team is [...]
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Global NFC handset sales drive payments cool factor
As the world mourns the loss of a former king of the handset manufacturing world and Microsoft licks its wounds in writing down about $7.6 billion on the Nokia division, there is reason for optimism and excitement elsewhere in the handset manufacturing industry and this spells excellent news for the payments industry. The good news [...]
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Instant payments at POS – overcoming customer and merchant barriers
Over the past several years, instant payments have become an increasingly important part of the payments landscape. The Euro Retail Payments Board (ERPB), European Central Bank (ECB), European Payments Council (EPC) and several national organisations have recently made announcements addressing the implications and regulation of this new payment option, as well as the impact of [...]
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CEE joint venture to provide merchant payment services
Erste Group Bank AG (Erste Group) has entered into an agreement with Global Payments to establish a joint venture providing merchant acquiring and payment processing services (merchant payment services) to retailers in the Czech Republic, Romania and Slovakia. Upon completion of the transaction and pending regulatory approvals, Erste Group will sell 51% of its merchant [...]
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