28 November 2014

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Santander, Telefonica and MasterCard are to invest £49.2 million in Monitise, providing a welcome boost to the London-based mobile money outfit after Visa decided to sell off its stake in the company.

Skrill Group is to acquire Ukash, a UK-based electronic money system that allows users to exchange their cash for a secure code to make payments online.

In an uncontrollable fit of ATM rage, a Chinese man took a hammer to nine cash machines in the City of Guangzhou after his bank card was rejected.

Much derided mobile payments startup Clinkle has unveiled its customer acquisition strategy: bribing students with $20 bills from a vending machine stuffed with cash.

Discover has filed a lawsuit accusing rival card scheme Visa of anti-competitve practices in its debit card business.

UK transport company FirstGroup has deployed bluetooth low energy beacons on buses in Norwich to deliver messages and discounts from local retailers to passenger smartphones as they travel through the city.

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Swipp, a mobile payments service owned by a consortium of Danish banks, has acquired Paii, a rival outfit formed by a group of telcos.

In its latest foray into the commerce sphere, Twitter is testing a feature that lets users add discounts from advertisers on the social network to their payment cards.

Paylib, a PayPal-style online payment system set up last year by French banks, is extending its reach thanks to the addition of Crédit Agricole as a member and a deal with MasterCard that will let people use the service abroad.

Dutch bank ING is to cut 1700 jobs and spend EUR200 million to simplify and upgrade its IT systems over the next three years.

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