21 October 2014

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Bitnet, a bitcoin payments processor targeting large merchants that was set up earlier this year by a gaggle of Visa and CyberSource veterans, has raised $14.5 million in a series a funding round led by Highland Capital Partners.

London-based bitcoin exchange Coinfloor is to open up to new currencies, accepting deposits in US dollars, euros and Polish zloty, this Tuesday. Coinfloor is already the the biggest exchange for bitcoin-to-sterling transactions by volume of currency traded.

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Obama signs chip and PIN executive order

17 October 2014  |  8

US president Barack Obama has signed an executive order mandating the use of chip and PIN technology at executive departments and agencies for card payments.

A cyber-crook has uploaded the details of more than five million cards, many of them stolen during the data breach at US retailer Target, to a Russian carding site, says security firm Group-IB.

Nearly half of US merchant terminals will accept EMV chip card payments by the end of next year, according to a trade body set up to push the migration from magstripe plastic.

Apple Pay will launch in the US on Monday, enabling Americans to use their iPhones to make payments at the likes of Target, Uber, Groupon, and Starbucks.

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