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Man gambles away $1.5m after bank glitch lets him withdraw unlimited cash

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Man gambles away $1.5m after bank glitch lets him withdraw unlimited cash

A Detroit man who took advantage of a Bank of America glitch to withdraw $1.5 million he didn't have from ATMs and gamble it away in casinos is facing a jail term.

MasterCard joins EUR25m iZettle funding round

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MasterCard joins EUR25m iZettle funding round

Swedish start-up iZettle, which provides technology that turns mobile phones into card payment terminals, has raised EUR25 million in a series b funding round as it prepares to launch across Europe.

Dutchman faces US card fraud charges

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Dutchman faces US card fraud charges

A Dutch citizen has appeared in a US court this week accused of building Web sites through which he sold tens of thousands of stolen credit card details obtained though hacking by his co-conspirators.

Global Payments breach extends to merchant accounts

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Global Payments breach extends to merchant accounts

Global Payments, which disclosed in March a serious breach of its payment processing system affecting 1.5 million card details, says that the intruders may also have escaped with the personal banking details of merchants who had applied for accounts with the processor.

RBS adds ATM cash dispensing to mobile banking app

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RBS adds ATM cash dispensing to mobile banking app

Royal Bank of Scotland and NatWest customers who forget or lose their cards can now withdraw money from ATMs using their mobile banking app.

IZettle releases API for app developers

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IZettle releases API for app developers

IZettle, the European start-up that turns mobile phones into card payment terminals, is extending its reach with an API that enables third-party developers to integrate its system into their apps.

NCR ATM software ditches cards and PINs for mobiles and barcodes

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NCR ATM software ditches cards and PINs for mobiles and barcodes

NCR has introduced a card-less and PIN-less ATM withdrawal system that sees customers initiate transactions through their mobile phones and then scan 2D barcodes on the machines' screens.

UK high-street cash use on the rise - BRC

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UK high-street cash use on the rise - BRC

Paying in-store with cash is more common than a year ago as recession-hit customers try to keep track of their spending, according to the British Retail Consortium (BRC), which is also calling for action to force down interchange fees.

Half of world's POS terminals will be NFC-ready by 2017 - Berg Insight

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Half of world's POS terminals will be NFC-ready by 2017 - Berg Insight

The number of NFC-ready point-of-sale terminals around the world is set to soar over the next few years, from 3.9 million in 2011 to 43.4 million in 2017, claims Swedish research firm Berg Insight.

Visa runs into criticism over Olympic ATM plans

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Visa runs into criticism over Olympic ATM plans

Visa has run into hot water again over its controversial Olympics sponsorship deal after it emerged that the card scheme has insisted on replacing 27 ATMS at various Olympic sites with just eight of its own machines.

Mobile NFC fails TfL's need-for-speed transit tests

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Mobile NFC fails TfL's need-for-speed transit tests

A senior Transport for London executive says the read-speed of NFC-enabled mobile devices is too slow for practical use on the capital's transit network.

Flagging contactless gets a boost from UK Post Office

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Flagging contactless gets a boost from UK Post Office

The UK Post Office is to roll out contactless payment terminals across 30,000 counter positions in its national network of over 11,500 branches, in a move which exponents of the technology hope will help to boost awareness among a reluctant populace.

Russian bank issues Angry Birds card

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Russian bank issues Angry Birds card

Game developer Rovio is spreading its wings, teaming up with Russia's Promsvyazbank on an Angry Birds branded debit card.

Google wallet anniversary falls flat as new software problems emerge

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Google wallet anniversary falls flat as new software problems emerge

The celebrations marking the first anniversary of the launch of Google Wallet promise to be a gloomy affair, with the emergence of a new flaw that disables the wallet functionality following a simple factory reset on NFC-equipped Android handsets.

Central banks need to step up data collection on retail payments innovation - BIS

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Central banks need to step up data collection on retail payments innovation - BIS

Central banks may need to step up collection of statistical data on new developments in retail payments to help them carry out analytical research, says a new Bank for International Settlements (BIS) report which warns that failure to assess the market properly and offer correct guidance will see them face a reputational hit.

PayPal signs 15 retailers to in-store payments; Groupon tests mobile payments

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PayPal signs 15 retailers to in-store payments; Groupon tests mobile payments

PayPal has continued its assault on the bricks-and-mortar world, signing 15 major US retailers to its in-store payment system.

Google launches pre-paid NFC transit card in Kenya

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Google launches pre-paid NFC transit card in Kenya

Google has launched an NFC-enabled pre-paid card for transit payments in Kenya.

PayPal targets big retailers through VeriFone and Equinox partnerships

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PayPal targets big retailers through VeriFone and Equinox partnerships

PayPal has inked a licensing, marketing and implementation agreement with terminal manufacturers VeriFone and Equinox in a bid to bring its alternative payment methods to America's biggest retailers.

MasterCard loses court challenge to EC interchange ruling

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MasterCard loses court challenge to EC interchange ruling

An EU court has dismissed MasterCard's challenge against a European Commission ruling that the firm's cross-border interchange fees violated competition law.

Olympics false start for TfL as London contactless bank card plan is delayed

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Olympics false start for TfL as London contactless bank card plan is delayed

Transport for London (TfL) has delayed the roll out of a system enabling travellers to pay for their journeys using contactless bank cards.

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