Regional

PEPSI: A European Payment System to Rival Visa and Mastercard?

Twenty European banks are reported to be working on setting up a pan-European payment system in order to challenge the perceived dominance of Visa and Mastercard as well as technology companies such as Google, Apple, AliPay and WeChat Pay. At the end of 2018, there was a total of 6,088 banks operating in the European […]

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U.S. Holiday Sales Could Top $1 Trillion, With Mobile Payments Growing 32%

Research firm eMarketer Inc. forecasted that 2019 U.S. holiday sales will surpass $1 trillion in value for the first time. Cyber Monday, the Monday following Thanksgiving, is expected to be the biggest online shopping day and could approach $10 billion in sales.

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US Mobile Payments Staging a Strong Consumer Led Comeback

A new report reveals that the use of mobile wallets and mobile payments by US consumers has rebounded to 2016 levels or higher after a two-year decline. The use of any mobile payment has increased from 48% in 2018 to 60% in 2019. In comparison, in 2016 53% reported using a mobile wallet.

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China Announces New Regulatory Authority to Certify Digital Payments, Blockchain Products

China’s central bank, the People’s Bank of China, will certify 11 types of financial technology hardware and software that are widely used for digital payment and blockchain services with its new verification system called the Certification of Fintech Products.

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Machine Learning in UK Financial Services

In the financial services industry, the application of machine learning (ML) methods has the potential to improve outcomes for both businesses and consumers. In recent years, improved software and hardware as well as increasing volumes of data have accelerated the pace of ML development.

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Mexico’s New QR-based Payments System – Will It Succeed?

A few weeks ago, Banco de Mxico (Banxico), Mexico’s central bank, rolled out CoDi – a smartphone and QR-based payments system. How did QR codes become so popular? What does this mean for Mexico, a heavily cash-dependent country? And what does it mean for the ATM industry? To understand more, let’s step back 45 years.

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Why PayPal’s Approval to Enter China’s Payments Market May Be Less Than It Seems

PayPal Holdings has become the first foreign payments company to gain a foothold in China, more than a year after Beijing said it would open the space to foreign firms. But the deal may be less than it seems, as PayPal, a leader in U.S. digital payments processing, enters China as a bit player.

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Not Only in Beijing…the Chinese Way of Paying Is Rapidly Spreading Around the World

“How would you like to pay for that, sir?” For most of my lifetime, there have been three possible answers to that question: cash, a check, or a plastic card. Go to Beijing, however, and you will see very few payments in those forms.

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Nissan to Build RFID Payments Into All Cars Sold in Brazil

All Nissan vehicles manufactured in Brazil are to come factory-installed with Sem Parar RFID tags, enabling them to be used to make in-vehicle payments for electronic tolls, car parking, fuel and retail transactions – including at McDonald’s drive-thrus across the country.

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1.4 Million Brazilian Point-of-Sale Devices to Support Crypto Payments

Cielo, the largest credit card processing company in Brazil, recently announced support for cryptocurrency payments on its point-of-sale devices.

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Alibaba, Tencent, Five Others to Receive First Chinese Government Cryptocurrency

China’s central bank will launch a state-backed cryptocurrency and issue it to seven institutions in the coming months, according to a former employee of one of the institutions who is now an independent researcher.

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New Ways to Pay in Store: Ideas From Around the World

With the UK high street experiencing its worst footfall in six years, retail brands are working harder than ever to convert shoppers into buyers – and payment is a big part of that. If bricks-and-mortar stores are to compete with online retailers, then payments need to be just as convenient and seamless.

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