Cards

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Physical cash retains its popularity in face of electronic onslaught

A new survey of 47 countries conducted by G4S reveals that demand for cash continues to rise globally, despite the increase in electronic payment options, including mobile in recent years.

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Major card schemes zero in on single 'buy' button for online commerce

Major card schemes are rallying around the the new EMVCo Secure Remote Commerce (SRC) framework in a bid to create a ubiquitous online shopping technology standard backed by token-only storage of payment details.

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iZettle sets up e-commerce marketplace for small traders; Qapital raises $30 million

Swedish mPOS outfit iZettle has launched an e-commerce marketplace for small business owners to sell their wares online.

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Mastercard to hire 175 new staff in Ireland to expand innovation agenda

Mastercard is to grow its presence in Ireland, hiring 175 new people with experience in a range of IT roles, including blockchain and data sciences.

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PayPal to offer debit cards and mobile cheque deposits to unbanked

PayPal is moving deeper into plain vanilla banking, with plans to roll out a new debit card for online and offline shopping and an FDIC-insured cheque deposit system for account holders.

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SEC KO's Mayweather-backed ICO over fraud allegations

An initial coin offering (ICO) that raised $32m and was backed by celebrity boxer Floyd Mayweather has been dealt a knockout blow after the US Securities and Exchange Commission (SEC) arrested the company's founders for fraud.

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Hackers steal 5m cards from Saks Fifth Avenue and Lord & Taylor

Notorious hacking collective JokerStash has been fingered for an attack that has compromised more than five million card numbers from customers of Saks Fifth Avenue and Lord & Taylor.

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Barclays to shut off online services over holiday weekend to complete ring-fencing

Barclays customers will not be able to manage their accounts online, by phone or by app between Saturday night and Sunday afternoon as the bank carries out work on its systems to meet new regulations.

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NatWest rolls out ClearSpend app for company card accounts

NatWest has partnered with Silicon Valley start up SpendLabs to develop a new app to help businesses digitally manage company spending.

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BofA lets customers link cards to PayPal accounts from mobile app

Bank of America customers can now add credit and debit cards to their PayPal accounts directly from the lender's mobile app.

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BBVA tests 'invisible payments' technology at inhouse cafe

BBVA is testing a facial recognition system at its inhouse cafetaria that is capable of recognising users and their orders and charging their cards as part of a strategy to render checkouts and payments 'invisible'.

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APP scam data published for first time

UK consumers lost £236 million to authorised push payment scams in 2017, the first year that Britain's banks have reported data on the fraudulent activity, in which bank customers are duped into transferring cash to criminal accounts.

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UK could scrap 1p and 2p coins

With Brits increasingly turning to electronic payments, the UK government has raised the possibility of ditching 1p and 2p coins and even £50 notes.

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Capital One virtual assistant can now issue virtual card numbers

US bank Capital One is bidding to make online shopping safer through a new feature within its Eno chatbot that lets customers use virtual card numbers for ecommerce purchases.

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Riyad Bank to issue contactless bracelets

Saudi Arabia's Riyad Bank is getting into the wearables market, launching a contactless bracelet and stickers for cell phones.

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Sydney ferries go contactless

Sydneysiders hopping on and off the city's busy commuter ferries and light rail services can now pass through the turnstiles with a tap of their payment cards and smartphones.

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Babb raises $20m for blockchain banking platform

Having just raised $20 million in a sold-out token sale, British blockchain-based banking platform Babb has set its sights on opening its first bank accounts before the end of the year.

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Mastercard acquires Oltio from Standard Bank

Furthering its ambitions to displace cash in emerging markets, Mastercard has acquired mobile payments technology company Oltio from South Africa's Standard Bank.

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EBAday agenda to spell out new payments paradigm

Innovations in technology and practitioner insights into payment trends will top the agenda at EBAday 2018, Europe's leading payments and transaction banking conference, which is being staged this year at the ICM-Internationales Congress Centre in Munich.

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MegaFon embeds virtual card into subscriber accounts for mobile payments

Russian telco MegaFon is to embed a virtual card from Mastercard into its mobile phone accounts to enable subscribers to pay for goods and services using Apple and Samsung handsets.