Five French citizens have been convicted of manipulating vulnerabilities in the #chipandpinsystem with a card-switching technique that included substituting the PIN on a stolen card with a cheap piece of plastic.
Non-cash payment volumes are expected to continue on a high growth trajectory. They are projected to grow at a rate of 8.9% to reach a record high of 389.7 billion transactions,2 up from 2013’s 7.6% growth rate.
VocaLink and NITMX collaboration in Thailand intends to deliver immediate #mobilepayments and services to banks, consumers and businesses, underpinned by an instant payment capability based on the ISO20022 standard.
According to figures released by the British Retail Consortium (BRC), UK retailers are preparing for a record-breaking Black Friday, with almost £1bn in online sales expected, while online sales over the Black Friday and Cyber Monday weekend (27 – 30th November) could exceed £2.2bn.
With all tech majors like Google, Apple and Samsung already offering mobile payment services, Microsoft has announced that is also planning to join the action. The payment system allows users to store credit cards, debit cards, loyalty cards, gift cards and other similar things.
Niklas Arvidsson, a researcher in industrial economics and management at KTH, says that the widespread and growing embrace of the #mobilepaymentsystem, Swish, is helping hasten the day when Sweden replaces cash altogether.
Sweden is on track to becoming the world's first cashless society, thanks to the country's embrace of IT, as well as a crackdown on organized crime and terror, according to a study from Stockholm's KTH Royal Institute of Technology.
The digital revolution sweeping through the banking sector is set to wipe out almost two-thirds of earnings on some financial products as new technology companies drive down prices and erode lenders’ profit margins.
The Strawhecker Group (TSG) released survey results that illustrate only 27% of US merchants will be EMV-ready by the October 1st liability shift. This represents a sizable decline from 34% estimated in March.
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