Blockchain

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/Blockchain

Ebay faces Paypal suit over 'monopolising' payments

Online flea market eBay is facing a class action lawsuit in California over allegations that its PayPal subsidiary has sought to improperly monopolise the forms of payment that sellers can use on the auction site.

/Blockchain

Apacs says cashless society as likely as paperless office

Figures on the use of cash in the UK, released by the payments association Apacs to coincide with the launch of a new £20 note, show that Britons show no signs of abandoning cash any time soon. This is despite predictions from Visa of a cashless society by 2012.

/Blockchain

Transport for London issues 10 millionth Oyster card

Transport for London says that more than 10 million Oyster smart cards have been issued since the e-ticketing system was launched three years ago, with just five per cent of journeys on the tube and bus networks now paid for by cash.

/Blockchain

Consumers turning to plastic for small value payments

More than 67 million Americans have used a credit or debit card for a purchase of less than $5 in the past 30 days, according to research conducted by Ipsos Insight and micropayments outfit Peppercoin.

/Blockchain

Netcash pitches digital currency service to retailers

UK EFT firm netcash has begun marketing a new digital currency service to the retail community as an alternative to plastic card and PayPal payments.

/Blockchain

Neteller aims at banking markets with Gagie appointment

AIM-listed Neteller, a provider of Web payments services to the online gambling industry, has appointed payments industry veteran David Gagie as president of financial services as it looks to move into the more mainstream banking markets.

/Blockchain

Pre-paid card launched for gamers' virtual funds

The company behind online science fiction game Entropia Universe - a role-playing game that has a real world cash economy - is introducing a new pre-paid card that allows gamers to deposit money into virtual accounts without having to use a personal debit or credit card.

/Blockchain

Neteller expands in Europe and Asia

UK online payment transfer firm Neteller is launching German, French, Spanish and Italian versions of its service as well as a new payments platform, called 1-Pay, in Asia.

/Blockchain

Cash card allows gamers to withdraw virtual funds at ATMs

The company behind online science fiction game Entropia Universe is launching a 'real world' ATM card that allows players to convert virtual money into hard cash that can be withdrawn at the hole-in-the-wall.

/Blockchain

Intel invests Y5bn in EDY e-money system

US chip maker Intel Corporation has invested Y5 billion (US$ 42.4 million) in Bitwallet, the Toyko-based firm that provides the EDY pre-paid contactless electronic money system.

/Blockchain

Banks can't compete with PayPal - Gartner

Banks and credit card companies should consider reselling PayPal payments to merchant customers, instead of devising ways to compete with the online payments platform, according to research group Gartner.

/Blockchain

Europe to review e-money rules

The European Commission is to revisit the E-Money Directive to address recent developments in mobile telephony and Internet payment schemes.

/Blockchain

Bank of Tokyo Mitsubishi introduces telebanking and e-money services

The Bank of Tokyo Mitsubishi is to introduce broadband video conferencing between customers and staff through a network of 'Telebank' terminals at branches.

/Blockchain

UseMyBank slams competing bank 'bully-boy' tactics

Canadian e-payments processor UseMyBank has taken legal action against Bank of Nova Scotia and made a formal complaint to the national Competition Bureau over alleged 'bully-boy' tactics by the major Canadian banks in the run-up to the launch of their competing Interac Online payments service.

/Blockchain

PayPal grows business

PayPal, the e-mail funds tansfer business of electronic auction house eBay, has reported a 44% increase in the value of total payment transactions handled to $6.2 billion for the first quarter 2005.