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SIX Payment Services and MasterCard will jointly provide the wallet payment platform MasterPass for card issuing banks. The digital wallet simplifies payments on the internet and offers financial institutions in Europe an advanced payment solution for digital e-commerce and m-commerce. By the end of 2014 all holders of payment cards issued by Swiss banks will [...]

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In 2013, ACH volume grew to almost 22 billion electronic payments[1], an increase of 4% over 2012 volume, according to new statistics released by NACHA — The Electronic Payments Association. A total of $38.7 trillion was transferred over the ACH Network during 2013, increasing almost 5% compared to 2012, supporting a wide variety of consumer, [...]

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According to a report from IHS, contactless payments could be about to receive a significant boost, with global Near Field Communication (NFC)-enabled handset shipments set to soar four-fold in the next five years. To date NFC payments have struggled to take off as a mainstream technology, so will the sheer increase in NFC-enabled handsets be [...]

The post NFC: A technology in search of a problem? appeared first on Payments Cards & Mobile.

Just three months after announcing its Bitcoin rival MintChip, The Royal Canadian Mint has shut its cloud-based digital currency and is looking to offload the business. The Mint unveiled plans for MintChip in 2012, promising to bring the benefits of cash into the digital age, providing users with instant, private, secure, and fee-free access to [...]

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Barclaycard has announced that its customers are spending £6.6 million per month on their contactless cards. The latest figures from Barclaycard show that contactless payments have increased threefold since 2012, with 90 million transactions predicted during 2014 – according to Finextra. Barclays launched contactless cards to all customers in March 2009 and there are now [...]

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