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A managed decline of cheques for payment has emerged as one of the main priorities in the UK National Payments Plan, released on May 14 2008 by the Payments Council. The Payments Council is the organisation that sets strategy for UK payments. It was created in March 2007 to lead the future development of co-operative [...]

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Payments News -

Discover Financial Services announced in April 2008 that it has signed an agreement with Citi to acquire Diners Club International, the world’s oldest premium card brand, for $165 million in an all cash transaction. Under the terms of the agreement, Discover will acquire the Diners Club International network with more than $30 billion per year [...]

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Payments News -

UK bank-owned electronic payments and transactions company Vocalink is searching for external funding. At present it is in discussions with undisclosed investors about a possible minority stake sale. ‘It’s a significant sum and it will be a significant investor,” says Vocalink’s chief commercial officer Martin Wilson. He hopes the deal will conclude this year. ‘But [...]

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Payments News -

Just how likely are the SEPA Cards Framework (SCF) and the European Payments Council’s (EPC) ambitious plans to restructure the European Union’s (EU) fragmented national debit card schemes to deliver anything of value by the end of 2010? This was a question asked several times by speakers and attendees at the European Card Acquiring Forum [...]

The post Is it on a road to nowhere? appeared first on Payments Cards & Mobile.

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Payments News -

On June 21 2008 MasterCard took the path of least resistance and temporarily repealed its MasterCard and Maestro intra-EEA cross border consumer card interchange fees to conform with the European Commission’s December 2007 decision. It is continuing with its appeal of that decision to the European Court of First Instance, filed in March 2008. It [...]

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