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BPC Banking Technologies says that the multifunctional end-to-end SmartVista solution will be implemented in Consolidated Bank of Kenya. The deal was signed with the help of BPC partner Tracom Services Ltd., Kenya. Previously relying on an outsourced solution the Bank wished to take direct control over its payments business – a key strategic focus within [...]

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U.S. Sen. Dick Durbin (D-Ill.) wants to guarantee that the debit interchange fee cap is not doing harm to small banks by bolstering the exemption for such institutions. In a little-noticed provision of an appropriations bill, the Federal Trade Commission would disclose whether Visa, MasterCard, and large banks have undermined the small bank exemption, as [...]

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Cybersecurity experts say stricter laws are needed to spur companies into taking stronger action to protect their customers’ information. The Obama administration has proposed giving the federal government the authority to review the initiatives of private-sector networks for defending their infrastructure against hackers. The White House also proposed a law mandating firms to disclose the [...]

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Visa and MasterCard will attempt to convince U.S. District Judge John Gleeson to dismiss multibillion-dollar litigation charging them with price-fixing because the suing retailers do not pay directly for the fees at issue. The plaintiffs claim that Visa, MasterCard, and the largest U.S. banks broke antitrust laws by illegally inflating interchange fees charged to merchants [...]

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Experts say that it will take several years before EMV chip-and-PIN technology becomes a significant factor in curtailing card skimming fraud in the US. "We would need to see the percentage of chip-to-chip transactions rise to about 75% of all transactions in order to see a drop in counterfeit card crime," says Mercator Advisory Group’s [...]

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